News Round-up from the Commonwealth - 7 April 2014

Asia and the Pacific News

1. Japan, Australia reach agreement on free-trade deal, Channel News Asia

Japan and Australia on Monday said they had reached "substantive agreement" on a long-awaited free-trade deal, in a rare opening of Japan's protected markets.

2. William and Kate arrive in New Zealand with Prince George, BBC News

It is the first official tour for the eight-month-old prince, who was awake in his mother's arms as the trio were greeted at Wellington airport by Prime Minister John Key and waiting media.

3. World Bank optimistic about Bangladesh’s future, bdnews24.com

Visiting World Bank Vice President for the South Asia Region, Philippe Le Houérou, has said that he is optimistic about Bangladesh’s prospects of ending poverty and achieving shared prosperity.

4. Why India is so good at organising elections, The Economist

India’s general election is a massive affair. From April 7th to May 12th, across seven phases, 815m people will be eligible to cast votes in the biggest democratic exercise on Earth.

5. 11 things to know about world's biggest election, CNN

The 11 things you need to know about the world's biggest election.

Africa and Europe News

1. Nigeria becomes Africa’s top economy, The Globe and Mail

In a dramatic boost for African economic confidence, Nigeria has announced a huge rise in its estimated GDP, making it the biggest economy on the continent and the 26th biggest in the world.

2. Rwanda: Rising from the ashes, Africa Renewal

As the world marks the 20th anniversary of the genocide this year, Rwanda has moved on, economically, socially and politically. It has one of the world’s fastest-growing economies, averaging 8% per year over the past decade, according to the International Monetary Fund. The World Bank says Rwanda is the third best place to start a business in Africa, behind Mauritius and South Africa.

3. EU criticised for failure to transfer technology, SciDev.Net

European countries contribute less to global technological development than other developed nations, and are pursuing intellectual property policies that are not “development friendly”, according to a study.

4. Africa strives to rebuild its domestic industries, Africa Renewal

Across Africa, most countries face the problem that Mauritius once did: they produce and export mainly unprocessed crops or minerals, even though such raw materials are fetching lower and lower prices on world markets. In response, some are seeking to follow the example of Mauritius, to consciously and more energetically build up their manufacturing industries.

5. 'Nigeria's Mark Zuckerberg' puts tech into higher learning, CNN

At 23, many people around the world are still at university - at that age, Gossy Ukanwoke had already started one. The young entrepreneur is the founder of Beni American University (BAU), Nigeria's first private online university.

The Caribbean and the Americas

1. Canada created 43,000 jobs in March, CBC News

Canada's economy added 43,000 jobs in March as young people found work, Statistics Canada said today.

2. St Lucia considers economic citizenship to boost investment, Caribbean360

The initiative could attract “the brightest and wealthiest people” to a country for the purpose of investment, while at the same time highlighting the need for safeguards.

3. Trinidad experiencing robust growth - IMF, Jamaica Observer

The International Monetary Fund (IMF) says Trinidad and Tobago is experiencing more robust growth after several years of “sub-par performance.”

4. Small enterprises considered key to a sustainable Caribbean economy, St Lucian News Online

The Commonwealth Secretariat co-hosted, in collaboration with the Government of Saint Lucia, the third Global Biennial Conference on Small States... small, medium and micro enterprises (SMMEs)... should be at the centre of an economic growth strategy for Caribbean states.

5. Bahamas 'remarkable' as offshore center, The Nassau Guardian

The founder of a global private banking group, EFG International, has launched a new private bank in The Bahamas, arguing that this country's financial services sector has continued opportunities to grow notwithstanding ever-evolving global regulatory standards.

The Americas and the Caribbean news

1. Canada welcomes companies from Down Under, Canadian Business, Canada

Australian listings on TSX and TSXV have almost tripled in the last five years, and there are now 33 resource companies with a dual listing on the Australian Securities Exchange (ASX).

2. Harper snubs Sri Lanka while sending delegation to hobnob in China, National Post, Canada

Mr. Harper stayed away from China during his early years as Prime Minister, citing its human rights record. He’s managed to get over that.  Chinese-Canadians may appreciate his change of mind. And Tamils in Canada — the largest Tamil community outside Sri Lanka — may appreciate his hard line towards the regime in Colombo. Both moves are good politics, and the Governor General’s trip is good business.  Pity about the duplicity.

3. Jamaica: growing to full broadband penetration, Jamaican Observer, Jamaica

Estimates show just eight per cent of the population are presently using high-speed Internet service, while studies suggest that for every 10 per cent increase in telecomunications and broadband penetration there is a 1.3 per cent boost to GDP

4. Belize asked the UN for help, Amandala, Belize

Belize Minister of Foreign Affairs and Foreign Trade, Attorney General Wilfred “Sedi” Elrington, raised the profile of illegal incursions by Guatemalans into Belizean territory. Elrington said “the forays” into Belizean territory are “an existential threat” which requires urgent resolution and action on the international front.

5. Quebec secession opens rift in Harper cabinet, Global and Mail, Canada

A split has emerged in the Harper government over a fundamental principle: the rules governing the potential breakup of Canada.

The Americas and the Caribbean news

1. Canada’s fur trade is booming again — thanks to demand from China’s new capitalists, National Post, Canada

The Chinese economic tiger’s appetite for furry Canadian critters has single-handedly revived an industry that, in the North American and European spheres, was left for road kill more than 20 years ago, done in by shifting consumer tastes and catchy animal rights slogans including, perhaps, the most famous of all: “I’d rather go naked than wear fur.”

2. Belize finds Black Gold, Amandala, Belize

The Ministry of Energy, Science and Technology, and Public Utilities confirmed on Tuesday that oil has been found in Orange Walk by Maranco Energy Belize Limited, headed by Paul Marriott, a former director of Belize Natural Energy.

3. Region must focus on being more self-sufficient, Barbados Advocate, Barbados

Part of the challenge for most of the region’s economies going forward will be to how to go about restructuring their energy industry and heightening their food security

4. Canada’s Day, Canada’s era, National Post, Canada

Ed-op, Conrad Black: “Canada should lead the world in imposing some yardstick of currency value based on a combination of the prices of gold, oil, and a range of essential consumer goods.”

5. An Uphill Struggle, Antiga Observer, Antigua and Barbuda

The economies of the Eastern Caribbean continue to struggle from the global economic and financial crisis with 2012 being described as “a very challenging year”.