Finance & Economics | WPN World People News

As part of the government’s long-term economic plan, a new £15 million scheme will allow universities to drive local growth plans and support entrepreneurship and innovation.

The World Bank revised its September Russia growth projection for 2013 from 1.8 percent down to 1.3 percent as part of its quarterly forecast review. The underlying assumption for this revision is weaker than expected domestic demand, with delayed investment recovery coupled with a slowing in consumption growth.

The U.S. House of Representatives has passed a bill to fund the federal government for two years, avoiding the threat of another government shutdown like the one in October. The vote was 332 to 94. It was a busy day on Capitol Hill, as the House worked to finish its business and recess for the year.

Tanzania’s economy is likely to grow at approximately seven percent annually for the next two years, with inflation stabilizing at around five percent largely due to falling food prices and tight monetary policies.

Sweden’s health and elderly care systems deserve their reputation as being among the best in the world. Yet an ageing population with growing chronic conditions and requiring more complex health services are testing Sweden’s ability to continue delivering high-quality care, according to a new OECD report.

An International Monetary Fund (IMF) mission visited Paraguay during December 2-12, 2013 for discussions with government officials, donors, and the private sector, as part of the IMF’s annual Article IV consultations with its member countries.

The European Central Bank (ECB) has played a key role in fighting the crisis in Europe in recent years, making it important to scrutinise what it is doing. It has been part of the troika of international lenders that manage the bailouts for crisis-stricken EU countries and is preparing to take on the supervision over Europe’s largest banks.

The outcome of the Vilnius Eastern Partnership summit of 29 November shows that the EU must do more to support the European aspirations of its eastern partners, say MEPs in a resolution adopted on Thursday. They urge the December EU Council to send a strong political signal that the door to the EU is still open, despite Ukraine's failure to sign the association agreement.

As inclusive innovation can expand poor people’s access to basic goods and service, a new report advises policymakers to develop a strategy to promote inclusive innovation in China. Inclusive innovation is any innovation that leads to affordable access to quality goods and services for the poor on a sustainable basis and with extensive outreach.

EU aid to redundant workers will continue in 2014-2020 and be extended to new categories of workers, such as the self-employed and those on fixed-term contracts, according to an agreement endorsed in plenary session on Wednesday. This EU programme takes effect on 1 January 2014.