Finance & Economics | WPN World People News

While South Africa remains the most appealing investment destination on the African continent, the economy of the continent's most populous nation, Nigeria, is growing quickly. A new survey from a major South African bank predicts that, within the next couple of years, Nigeria will be the most attractive country to investors.

Rural areas adjacent to India’s major metropolitan cities are witnessing faster economic growth and higher employment generation than the mega-cities themselves, says a new World Bank report. Examining the phenomenon of rapid “suburbanization” that India is undergoing, the report offers options to city planners and policymakers to ensure that the movement of economic activity away from city cores does not affect their potential to emerge as powerhouses of growth.

The World Bank released its new report on Fostering Entrepreneurship in Georgia.The report presents the results of a survey of micro, small and medium companies in Georgia, and analyzes factors that inhibit growth of entrepreneurial and innovative activity of Georgian firms.

The practical details of setting up a single bank resolution system and fund, the upcoming bank balance sheet health checks and next steps for Greece were the key issues Economic and Monetary Affairs Committee MEPs raised with European Central Bank President Mario Draghi on Monday. MEPs also discussed the economic risk landscape with Mr Draghi, in his capacity as Chair of the European Systemic Risk Board.

New World Bank report says economic impact of Bulgaria’s aging population can be mitigated.

UK Low Pay Commission (LPC) whose purpose is to provide advice to the Government on matters relating to the minimum wage, apprentice and youth rates is visiting Gloucester and Newport on 3rd and 4th October.

U.S. Regional and state unemployment rates were little changed in August.

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $98.9 billion (preliminary) in the second quarter from $104.9 billion (revised) in the first quarter. The decrease in the current- account deficit was accounted for by a decrease in the deficit on goods, an increase in the surplus on income, and an increase in the surplus on services. These changes were partly offset
by an increase in net outflows of unilateral current transfers, such as government grants, government pensions and other transfers, and private remittances.

Peter Burian, State Secretary of the Slovak Republic’s Ministry of Foreign and European Affairs, Angel Gurría, OECD Secretary-General and DAC Chair Erik Solheim.

The single resolution mechanism for banks can be set up without a treaty change, financial services commissioner Michel Barnier told lawmakers. He added that he was open to improving the mechanism through treaty changes at a later stage. MEPs questions mainly focused on banking union in the light of the concerns raised by some member states.