Economic news

Greece crisis to hit Albanian economy, FM says

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Saturday, 13 March 2010 10:39

Source: World Bulletin

The Greek debt crisis could have an impact on Albania's foreign trade, remittances from 650,000 Albanians living there and the cost of lending by Greek banks.

Greece's financial woes will affect Albania's economy, but should not set back the emerging Western Balkans countries' long-term plans to join the European Union, Albania's foreign minister said on Friday.

Read more: Greece crisis to hit Albanian economy, FM says

 

Mobile Transfers Save Money And Lives In Somalia

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Thursday, 04 March 2010 12:01

Source: New York Times (Reuters)
By Abdiaziz Hassan and David Clarke in Nairobi

About a year ago, Muqtar Ali's brother was shot dead by gunmen in the busy Bakara market of Somalia's capital Mogadishu, and his $200 (132 pounds) in cash was stolen.

Ali says that if a new mobile money transfer service unveiled by Somalia's biggest mobile telecoms firm last month had been in place then, his brother would still be alive.

Read more: Mobile Transfers Save Money And Lives In Somalia

   

Overseas sent remittances of $7.811b during 2008-09: ICCI

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Thursday, 04 March 2010 11:52

Source: The Daily Mail
By Asad Cheema

Overseas Pakistanis are the backbone of our economy as they are contributing significantly to the economic growth by sending in large amounts of remittances and government is taking all possible measures to resolve their problems on priority. This was said by Ms. Neelam Ali, Federal Secretary, Ministry of Overseas Pakistanis while addressing a seminar on “Migration and Wealth of Nation” which was organized by the Economic Freedom Network Pakistan in collaboration with Friedrich Naumann Foundation (FNF) and Islamabad Chamber of Commerce & Industry (ICCI).

Read more: Overseas sent remittances of $7.811b during 2008-09: ICCI

 

Saudi remittances a major source of income for India

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Wednesday, 03 March 2010 17:05

Source: The Economic Times

MoneySaudi Arabia is a major source of income for India as a result of remittances from Indian expatriates, who form one of the largest foreign community in the Kingdom of 25 million people, a report said on Sunday.

Indians form Saudi Arabia's largest expatriate workforce, working in fields from information technology to construction, with most employed as blue-collar workers, the Banque Saudi Fransi report said.

Read more: Saudi remittances a major source of income for India

   

Bangladesh Taka, India Rupee Appreciate Marginally Against U.S. Dollar

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Wednesday, 03 March 2010 10:05

Source: All Headline News
By Siddique Islam

Bangladesh Taka (BDT) and Indian Rupee appreciated marginally against the U.S. dollar in the last two weeks as the inflow of the foreign currency increased in the markets, treasury officials said on Sunday.

The BDT appreciated by 0.19 percent against the U.S. currency during the period while the Indian Rupee gained by 0.77 percent against the greenback, they added.

Read more: Bangladesh Taka, India Rupee Appreciate Marginally Against U.S. Dollar

 

Tourism, remittances, agric tipped to strengthen Gambia's economy

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Tuesday, 02 March 2010 10:47

Source: African Manager
By PANA

The recovery of Gambia's tourism industry and remittance s from indigenes in the diaspora as well as a robust growth in the agriculture s e ctor are expected to play key roles in ensuring the growth of country's economy, PANA reported from here Friday.

The governor of the Central Bank of the Gambia, Mr. Momodou Bamba Saho, said at a press conference that the combination of these factors would reinvigorate economic activities.

Read more: Tourism, remittances, agric tipped to strengthen Gambia's economy

   

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