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Editorial

Optimism among UK business leaders reach record high

The UK business community’s optimism of a dramatic rebound of the economy is a welcoming sign against the backdrop of overwhelming pessimism that the UK has to pay a greater price for its difficult and costly divorce from the EU, its largest trading partner.  Apart from external trade, one of the principal sources of demand, obviously, is spending.  The current optimism is led by summer spending spree as Britons will commence a multibillion-pound summer spending frenzy after being freed from lockdown. According to three separate studies, on the day that non-essential shops and other businesses in England reopened for the first...

Singapore can play key role in China’s ‘dual circulation’ economy: Vivian Balakrishnan

Singapore’s approach to free trade and constantly striving to upkeep its preeminent position as a business hub in the region is one of the far-sighted policies that would stand test of the time.   Needless to say that successive policies would eventually change the environment in which they were originally implemented, compelling governments to constantly update and renew policies to suit the rapidly changing socio-economic atmosphere. Given the island-state's strong trade and...

South Africa won Global Business Service Award

Despite the covid-induced economic contraction, South Africa’s wining of the Global Business Service Award following a stiff competition against India, The Philippines, Malaysia, Poland, Egypt and Northern Ireland, signals the enormous potential that South Africa has and its ability to become not only a robust economy, but also a global centre of business.    South Africa won the award after earning US$127 million in foreign exchange in the previous year, Trade,...

Covid restrictions on travel cost UK economy £148bn and 307,000 jobs

One of the direct hit industries following the Covid restrictions , obviously, is the leisure Industry.  This resulted in the loss of a large number of jobs; in the UK, it was from 4.27 million in 2019, to 3.96 million in 2020 – a reduction of 7.2 per cent The dramatic decline of the UK’s travel and tourism sector has eaten up a staggering chunk of £148billion from the nation's economy. Drastic...

IMF upgrades Australia’s post-Covid economic outlook

According to IMF’s economic forecast the Australian economy is to grow by 4.5% this year. However, the International Monetary Fund warns that recovery depends, by and large, on vaccine rollout. The IMF’s upgrade reaffirm the fact that  Pacific nation has outperformed all major advanced economies over the past year, the federal treasurer, Josh Frydenberg, has said. The IMF forecasted that the Australian economy would grow by 4.5% this year and 2.8%...

Economic growth to reach 2.6% in South Africa – World Bank

The World Bank’s biannual economic analysis for the region of Africa is like an investor’s guide book that, among other things, forecasted an economic growth by almost 2.6 % for South Africa.      The overall economic growth in Sub-Saharan Africa would have contracted by 2% in 2020 with prospects for rebound again as the global pandemic contains and brings under control. The Future of Work in Africa: Emerging Trends in Digital Technology...

Kangaroos dip

Education has been one of the main sources of foreign exchange for Australia and apart from making a substantial contribution to the Australian economy, the Sector has also provided much-need the man-power base for skilled labour that diverse sectors in the Australian economy requires. It has also been one of the main sources of generating higher quality employments.   The loss income generated by hundreds of thousands of international students, due...