YANGON Supreme x Nike Air Max 98 KPU TPU Men's Black UK Sale , Oct. 22 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC) has been helping Myanmar in development of the country's banking and monetary services by nurturing skilled banking personnel, He Biqing, the general manager of ICBC's Yangon branch, has said.
Speaking here at the opening of the "Belt and Road, Golden Myanmar" Financial Services Summit Supreme x Nike Air Max 98 Men's Sail Silver Red UK Sale , he said that being one of the world's largest banks, ICBC would like to assist Myanmar with its work skill and profession for the development of the country's banking and monetary sector as 80 percent of the bank staff are from Myanmar.
The meeting took place at a time when Myanmar is experiencing an economic reform and ICBC would like to discuss and exchange the experiences with its Myanmar counterparts, he added.
Noting that economic and trade undertakings between Myanmar and China have been continuously increasing, Myanmar Minister of Commerce Than Myint expressed recognition of China as Myanmar's largest foreign investor which has always supported the country's reform, inviting more investment from China for the development of its banking and monetary sector.
Chinese Ambassador Hong Liang said there exists many economic opportunities with Myanmar Nike Air Max 98 Men's UK White Gold UK Sale , and he recalled State Counselor Aung San Suu Kyi attended the Belt and Road Forum for International Cooperation held in China in May, expressing the hope for further enhancement of "Paukphaw" (fraternal) friendship between the two countries.
WASHINGTON, May 5 (Xinhua) -- U.S. trade gap widened further in March, driven by a surge in imports, the Commerce Department said Tuesday.
The country's trade deficit expanded 43 percent from the previous month to 51.4 billion U.S. dollars in March Men's Nike Air Max 98 Gym Red UK Sale , the largest since October 2008. In March, exports increased 1.6 billion dollars from February, or 0.9 percent, to 187.8 billion dollars, while imports rose 7.7 percent to 239.2 billion dollars.
A strong dollar and a labor dispute that disrupted shipping at West Coast ports have continued to affect the trade figures in the month.
The surge in the monthly trade deficit had certain adverse impact over the country's economy in the first quarter of the year. U.S. real gross domestic product increased at an annual rate of 0. 2 percent in the first quarter Nike Air Max 98 Men's QS Thunder Blue UK Sale , due to a bout of blizzards and a strong dollar's drag on exports.
by Mahmoud Fouly
CAIRO, May 1 (Xinhua) -- The Egyptian economy is still struggling with trade and budget deficits as well as upcoming unpaid dues despite the improvement of the country's credit rating and the decline of its external debts, said Egyptian economic experts.
The Central Bank of Egypt (CBE) has recently announced the decline of Egypt's foreign debts to 41.3 billion U.S. dollars in the second quarter of the 20142015 fiscal year compared to 44.8 billion dollars in the first quarter of the same year.
"The Egyptian authorities have recently paid off about three billion dollars of its dues to the external world (in the form of bonds and deposits), which affirms the commitment and ability of the Egyptian economy to pay off its foreign obligations when due," the CBE explained in a recent press release.
Egyptian economic experts Women's Nike Air Max 98 Fossil White Black UK Sale , however, believe that the country's economy is still ailing as the payments of foreign debts mainly came from financial aids worth billions of dollars.
"The issue is that the payment of our debts came from interest-free deposits of Gulf states, not from real domestic resources made inside the country," said Ibrahim Nawwar, economic expert and former spokesman of the Egyptian industry and foreign trade ministry.
Payment of foreign debts would indicate real economic progress if it was made through real dollar resources Nike Air Max 98 Men's Tour Yellow UK Sale , particularly direct foreign investment or extra exports, but the case is different because Egypt suffers insufficient foreign investment besides a trade deficit, Ibrahim told Xinhua.
TRADE & BUDGET DEFECITS
The most populous Arab country suffers a budget deficit of about 31.5 billion dollars for the 20142015 fiscal year, representing 10 percent of the gross domestic product, which the government attempted to minimize through economic reforms including large energy subsidy cuts that led to price hikes in oil products and electricity.
"Despite the economic policy based on austerity and subsidy cuts Nike Air Max 98 Men's Triple White UK Sale , the improvement of foreign debts is merely a number as it is based on financial aids rather than economic development," Nawwar told Xinhua, describing the general economic condition as "alarming."
The trade deficit, representing the gap between the country's imports and exports, has mounted in the first half of the 20142015 fiscal year to reach 20.2 billion dollars according to a recent CBE report.
Experts believe that the trade deficit "swallows" a large part of the foreign currency reserves and contributes to shortage of dollar resources required for investors and importers.
"We cannot judge the whole economic performance by improvement of one indicator like the decline of foreign debts Men's Nike Air Max 98 Gundam White Red UK Sale ," said Ehab al-Desouki, head of the Economy Department of Cairo-based Sadat Academy.
He added that Egypt's exports and its trade deficit have not improved, stressing that "real economic improvement should be reflected in improvement of the people's standard of living along with an economic growth connected with justice in distribution."
DOLLAR SHORTAGE & INVESTMENT
In 2011, Egypt had 36 billion dollars of foreign currency reserves at the central bank, but the country lost about 20 billion dollars of them over the past four years of political turmoil and instability.
Egypt has recently received six billion dollars of aid sent as deposits from the Gulf states to assist the country's ailing economy Nike Air Max 93 UK , raising the foreign currency reserves to exceed 20 billion dollars.
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