15 November 2016
The economics of misplaced anger
Fast growing Asian countries have “eliminated” poverty at an astonishing speed, bringing people out of extreme poverty into mere gut-reaching poverty.
At first blush, the numbers are suggesting of a hopeful future. In 1990, about a third of the people in the world lived on less than US$1.90 a day. By 2013, it was just 10.7%. In actual numbers, that is 1.85 billion in 1990 compared to 767 million in 2013. A second glance puts in perspective the anger of many people in the world, and not in a good way.
Looking ahead, inflation is, however, expected to remain above its long-run average. — Bank Negara Malaysia
Malaysia’s central bank welcomed Ramadan fasts and celebrations through July and August by raising the country’s interest rate for the first time in three years.
As many economists expected, Bank Negara Malaysia (BNM) announced after a routine meeting at the beginning of July that it decided to raise its overnight policy rate by 25 basis points. The new interest rate is 3.25 percent with floor and ceiling rates raised to 3 percent and 3.5 percent accordingly.
16 July 2014
The World Cup is finished, much to the chagrin of our favorite Argentine team that came so close to taking a third cup only to see their chances vanish on a single but great German goal in overtime.
The World Cup is the most watched sporting event in the world. The governing body of football, FIFA, says something like 3.2 billion people watched at least a minute of the World Cup. It is a lot of people. Many of them are in Asia. And almost none of them see any economic benefits.
24 April 2014
When major earthquakes all but destroyed Sumatra, in Indonesia, in 2004, a well-established tradition of volunteer labor made it possible for the region to recover. Known as gotong royong, volunteer labour was key to the reconstruction of irrigation systems and the restoration of rural livelihoods.