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As the G8 summit at L'Aquila in Italy nears, China and Russia have stepped up calls for a rethink of how global currency reserves are composed and managed, underlining a power shift to emerging markets from the developed nations that bred the financial crisis. China will attend the summit this week as part of the G5 group of emerging nations which has been invited to meet with the G8. It also includes Brazil, India, Mexico and South Africa. There should be a system to maintain the stability of the major reserve currencies, former Chinese Vice-Premier Zeng Peiyan said in Beijing yesterday. A top Chinese diplomat said later as President Hu Jintao left for Italy that China would not directly raise its proposal for a new global currency to replace the dollar at the summit but was willing to discuss it. Russian President Dmitry... [read full story]
column NOT so many local artistes can speak of their work with as much authority as award-winning filmmaker, Rumbi Katedza. And her fiction writing has been published in Women Writing Zimbabwe (Weaver Press 2008), the...
When Obed Mumba first came to the Zambian copper mining town of Ndola in search of work, it was still known reverently as "Ku kalale" - the land of the white man. In the decades since, he has witnessed his Kabushi township...
Monrovia, Liberia, November 23, 2009— IFC, a member of the World Bank Group, today affirmed its commitment to expanding activities in Liberia to contribute to the country’s development through the private sector. IFC Vice...
NEW YORK, NY--(Marketwire - Now in its 59th year, it has resulted in the presentation of more than $750,000 in scholarships to more than 2,200 students, representing virtually every high school and community in Westchester. It...
