Feature
New ADB Paper Warns of Potential Economic Impacts to Asia of Avian Flu Pandemic
A new ERD Policy Brief examines the potential economic impact of an avian flu pandemic on Asia, finding that a pandemic could halt the region's growth rate to virtually zero. Using different assumptions about the duration and virulence of a pandemic, the report looks at the effect on GDP in various Asian countries, the long run impact, and possible government and international responses to contain avian flu.
For More Information:
Pakistan’s Earthquake
Less than 12 months after the devastating tsunami battered Southeast Asia the region was dealt another blow in the form of a 7.6 magnitude earthquake. The day after the devastating earthquake struck on 8 October, ADB President Haruhiko Kuroda announced plans to reallocate $10 million in existing funds for immediate assistance to the hardest hit areas of Azad Jammu and Kashmir and North West Frontier Province.
“Following the earthquake that devastated parts of Afghanistan, India and Pakistan on Saturday, our deepest sympathies go to the victims and their families, as well as the people and governments of the affected countries, ” he said in a written statement.
Meanwhile, Peter Fedon, ADB’s Country Director in Pakistan, confirmed that ADB project teams already in place for existing projects in the hardest hit districts were immediately mobilized to carry out rehabilitation and reconstruction work that will include rehabilitation of affected school buildings and rural health centers, roads and bridges, and water supply and electricity infrastructure in rural areas.
For More Information:
Financial & Economic News
The Region
Asia’s Inflation Signal Flashing Amber Not Red
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=58659&version=1&template_id=48&parent_id=28
Asia Struggles to Combat Bird Flu
http://www.jang-group.com/thenews/oct2005-daily/28-10-2005/world/w6.htm
China
China to Reform Oil Pricing Mechanism
http://news.xinhuanet.com/english/2005-10/30/content_3702217.htm
Yuan Revaluation Cut Textile Exports by $2.5 Bn
http://news.xinhuanet.com/english/2005-10/30/content_3703085.htm
Experts Predict 7.6% Growth Till 2020
http://news.xinhuanet.com/english/2005-10/27/content_3688807.htm
Energy Shortage Eases in First 9 Months
http://news.xinhuanet.com/english/2005-10/27/content_3691711.htm
India
PM: India’s Economy Can Grow Beyond 8%
http://www.thedailystar.net/2005/10/28/d51028050453.htm
Government Aims for 4% Agricultural Growth
http://economictimes.indiatimes.com/articleshow/1277842.cms
Growth in 6 Core Sector Industries Declines by 4.4% in First Half
http://www.financialexpress.com/fe_full_story.php?content_id=106973
Indonesia
Inflation Will Reduce Car Sales in 2005
http://www.antara.co.id/en/seenws/index.php?id=6991
Export Duty on Coal Could Still be Lowered
http://www.antara.co.id/en/seenws/index.php?id=7014
Privatization of State Firms Delayed This Year
http://www.antara.co.id/en/seenws/index.php?id=7014
Korea
Economy Yet to Recover Fully: Han
http://times.hankooki.com/lpage/biz/200510/kt2005103118420211890.htm
Current Account Swings to Surplus
http://times.hankooki.com/lpage/biz/200510/kt2005102719250211910.htm
Philippines
Government Takes Further Steps to Stem Bird Flu Threat
http://etna.mcot.net/query.php?nid=4055
Central Bank Hikes 2006 Inflation Forecast to 8.0-8.5%
http://www.nationmultimedia.com/2005/10/28/business/index.php?news=business_18998410.html
Thailand
Northern Thailand Reports More Suspected Bird Flu Cases
http://etna.mcot.net/query.php?nid=4055
Fabrics and Garments Sector Sets Out ‘ASEAN One’ Plan
http://www.nationmultimedia.com/2005/10/28/business/index.php?news=business_18998410.html
Inside ADB
ADB’s Auditor General Tours North America with Anticorruption Message
The objective of the five-day speaking tour covering Ottawa, Boston, Washington, and Seattle was to communicate ADB’s anticorruption initiatives to the government, civil society, and academic institutions in the U.S. and Canada. Among the important messages delivered was ADB’s decision to not publicize its sanctions list, which results in a more effective and fair process that subjects all companies to the same rules while providing an appeals process.
For more information and photos:
$58 Million Pledged to Address Growing Avian Flu Threat
Two grant projects are being prepared to stem the threat of the disease to humans. The first $30 million grant project focuses on regional communicable disease control in Cambodia, Lao People’s Democratic Republic, and Viet Nam. The second $28 million project will improve disease surveillance systems and strengthen countries’ response to outbreaks among animal and human populations. The project is being prepared in coordination with the World Health Organization, UN Food and Agriculture Organization, the World Organization for Animal Health, and other development partners.
http://adb.org/Documents/News/2005/nr2005162.asp
ADB Launches $1 Billion Yuan Panda Bonds Issue
The bond issue with a principal amount of CNY1 billion and a bullet maturity of 10 years represents another milestone in ADB's quest to develop the region's bond markets. Since early 2004, ADB has completed three market-opening transactions in the region's local currency bond markets, including India, Malaysia, and Thailand.
ADB will use the proceeds of the bonds in the People’s Republic of China (PRC) for funding private sector development projects. The objective is to help reduce the currency risks for private enterprises who have no foreign exchange earnings. After India and the Philippines, PRC is the third country where ADB plans to undertake local currency financing.
http://adb.org/Documents/News/2005/nr2005153.asp
Results Matter: Ideas and Experiences on Managing for Development Results
ADB’s 2006-2008 Work Program and Budget Framework: Results Focus
The Three-Year Rolling Business Plan quantifies the main parameters of the Bank’s operations. New features that reflect an ongoing effort to strengthen ADB’s results focus include implementation progress of the WPBF will be monitored regularly through periodic results-based reports on lending and disbursement levels, staff deployment rations and delegation of projects to resident missions.
For more information:
http://adb.org/Documents/Periodicals/MfDR/oct-2005.pdf
Feature Publication
Asian Cooperation and Integration: Progress, Prospects, and Challenges
Economic cooperation in Asia has so far been limited mainly to the bilateral or subregional levels and in the areas of trade and investment, money and finance, and infrastructure. More recently, however, the geographic scope of agreements has started to expand across the different subregions, providing initial signs of cooperation and integration in Asia as a whole.
This publication contains papers presented by experts at a high-level conference organized at the Asian Development Bank in July 2004. It evaluates the current state of economic cooperation and integration in Asia, explores the potential benefits of regional cooperation and integration, and discusses possible directions for enhancing economic integration within the region.
For the full publication:
http://adb.org/Documents/Books/Asian-Economic-Cooperation-Integration/default.asp
Employment Opportunities
http://www.adb.org/Opportunities/default.asp
Events In North America
http://www.adb.org/NARO/events.asp
Events In Asia & The Pacific & Europe
http://www.adb.org/News/calendar.asp
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