Emerging powers news roundup

ECONOMIC TRENDS
Global flows of foreign direct investment fell 39% in 2009, but will pick up modestly this year, the United Nations Conference on Trade and Development said Tuesday. More

China has said its economy expanded by 8.7% in 2009, exceeding even the government's own initial expectations. More

China closes on Japan as growth accelerates More

Sub-Saharan Africa’s economy will probably expand 3.8 percent this year as the global recession eases, though export demand may wane in the second half of the year, the World Bank said. More

The World Bank expects the South African economy, which slumped into its first recession in 17 years during 2009, leading to an estimated 1,8% contraction in gross domestic product (GDP), to grow by 2% during 2010 and 2,7% in 2011 - however, a ‘double-dip' recession would severely undermine the pace and strength of the anticipated recovery.

The forecast is well below the country's now abandoned aspiration for economic growth of more than 6% as from 2010, which was also seen as a necessary condition for curbing South Africa's extremely high unemployment rate and growing levels of inequality. More

A sharp slowdown in China is one of the biggest threats to future prosperity, the World Economic Forum said in its latest assessment of the risks that mankind faces. More

INSIDE CHINA
The US has called on Beijing to investigate the recent cyber attacks on Google that have prompted the search giant to threaten to leave China. More

What’s the real reason behind Google’s new-found love for an open society in China? More

China Paints Google Issue as Not Political More

China Can Stonewall Google, but Its “Great Firewall” is Really a False Front More

Google vs. China represents a clash of what may be the two most powerful forces of the first decade of the 21st century More

300,000 more to move for China's Three Gorges Dam More

Sinopec, the Chinese oil and gas group, is in talks with BP over potential collaboration in the exploration and development of shale gas. The move underlines growing international interest in China’s shale gas fields. More

Economic take-off is reaching China’s hinterland More

CHINA IN AFRICA
Chinese Minister of Commerce Chen Deming has outlined the general principles on the implement of "eight new measures" announced at the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) More

Chinese envoy to Zimbabwe launches celebrations to mark 30 years of diplomatic relations. More

China-Africa Development Fund invests US$540 mln in Africa More

The China-Africa Development Fund has invested nearly US$540 million to support 27 projects in Africa, which will likely lead to investment of about US$3.6 billion in the continent by Chinese companies. More

A Zambian state-owned utility has awarded the key contract for a project partly funded by India to a Chinese company. More

Zambia: Sata accuses China and Malaysia investors of ‘slavery’ More

Tanzania and China have sealed a five-year live stock and fish farming deal under which the East African country will open doors to Chinese investors in aquaculture and livestock development ventures. More

China donates 244,000 doses of anti-malarial drugs to Uganda More

Standard Chartered Bank makes strategic alliance with China Unionpay More

China's Africa footprint gives Algeria a makeover, though not without frictions More

China is thinking about applying to take over Japan's refuelling mission in the Indian Ocean that was scrapped after the Democratic Party of Japan (DPJ) won power late last August. More

Kenya has received the first two (of four) Chinese Z-9WA helicopter gunships. More

INDIA IN AFRICA
India’s minister of commerce and industry Anand Sharma has emphasised the strategic relationship between India and Nigeria and called upon the businesses of the region to forge new partnerships. More

The Economic Community of West African States (ECOWAS) and the Federation of Indian Chambers of Commerce and Industry (FICCI) Thursday signed a Memorandum of Understanding (MOU) on trade relations. More

India and its largest African trading partner Nigeria will conclude by June the talks to sign agreements on trade, investment and double taxation avoidance that will lead to a Comprehensive Economic Partnership Agreement (CEPA). This is to double the bilateral trade to over $20 billion in the next five years. India is also looking to make fresh investments of $10 billion, including in the oil sector, in Nigeria by 2015. More

Mauritius should not be singled out by India in its attempt to curb tax avoidance as the African nation’s image as a financial haven is ill-placed, its visiting Vice Prime Minister Ramakrishna Sithanen told a business roundtable in India. More

Ruchi Soya Industries, one of the leading edible oil processors, on Friday announced a major farm land acquisition in Ethiopia for soybean cultivation. More

India, China build parliaments for better Africa ties More

OTHER AFRICAN NEWS
Spain – the eighth world power and close neighbour of at least northern Africa – has come out to say that it is committed to development in Africa, with its ‘Africa Plan’ for 2009 to 2012. More

Saudi Arabia launches 750 million riyal agricultural project in Sudan More

Brewing giant SABMiller has said it will rely on the strength of its brands and the looming economic recovery to win back lost market share in South Africa, while capital investments will extend its reach through African markets. More

Kenya hosted a Sudanese cultural festival dubbed "Sudan: Cultural Diversity and Historical Perspective", to celebrate peace and highlight co-existence among the Sudanese people following the signing of the Comprehensive Peace Agreement (CPA) in 2005 More

After 4 decades of war, Angola tries to recover More

OTHER EMERGING POWERS NEWS
Russia’s central bank announced on Wednesday that it had started buying Canadian dollars and securities in a bid to diversify its foreign exchange reserves.

Analysts said the move could be a sign of increased diversification of emerging market central bank assets away from the dollar and into investments denominated in other commodity-linked currencies, such as the Australian dollar. More

Copenhagen & beyond: Stage set for BASIC meet in Delhi More

China, India, South Africa and Brazil ministers to discuss moves to fight climate change More

Korea-Algeria Leaders Exchange Congratulatory Messages Marking the 20th Diplomatic Anniversary. More

BROUGHT TO YOU BY PAMBAZUKA NEWS
* Stephen Marks is research associate and project coordinator with Fahamu's China in Africa Project.
* Please send comments to [email protected] or comment online at Pambazuka News.