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Archive for the tag “June”

Iran: New President, New Reforms

When Hassan Rohani won Iran’s presidential election in June, he garnered more votes than his predecessor did when he swept to power eight years before. The 64-year-old lawyer, cleric, and former diplomat will take on an economy that under President Mahmoud Ahmadinejad was defined by falling oil exports because of international sanctions, accelerating inflation, a currency collapse, and stubbornly high unemployment.

Read Here – Businessweek

The Road To California

An official announcement on May 21 revealed that Chinese President Xi Jinping will be visiting the United States in June, where he will meet with U.S. President Barack Obama at a Californian retreat. The visit is a fitting end to the first round of diplomatic outreach by the new Chinese leadership.

Read Here – The Diplomat

World Bank Cuts Growth Forecasts as Developed Nations Lose Steam

The World Bank cut its global growth forecast for this year as austerity measures, high unemployment and low business confidence weigh on economies in developed nations.

The Washington-based bank projects the world economy will expand 2.4 percent, down from a June forecast of 3 percent, after growing 2.3 percent in 2012. It halved its forecast for Japan, cut the U.S. projection by 0.5 percentage point and predicted a second year of contraction in the euro region. It also lowered projections for emerging markets led by BrazilIndia and Mexico.

Read Here – Bloomberg

Every Move By The Egyptian President Has Been Carefully Calibrated To Avoid Controversy

A few months before Egypt’s presidential election in June, one of the country’s leading businessmen quipped that it would take a crazy man to want to lead the Arab world’s most populous country. It made sense to be cynical at that time. No one knew where Egypt was heading or what a military hungry for power had in mind for the future. It was not even clear what the job description of the president would be. Less than three months into that job, however, Mohammed Mursi is defying the sceptics.

Read Here – Gulf News

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