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OECD cuts global growth forecast as U.S.-China tensions rise

May 21, 2019 - 10:00 PM

OECD Secretary General Angel Gurria says there is 'an urgent need' for Washington and Beijing to bury their differences

Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. - Global trade tensions and political uncertainty are weighing on the world's economy, the OECD warned on May 21, 2019, cutting its global growth forecast for this year to 3.3 percent, down from the 3.5 percent it predicted in November. (Photo by ERIC PIERMONT / AFP)

OECD cuts global growth forecast over trade, Brexit uncertainty

Mar 06, 2019 - 6:40 PM

(UPDATED) The Organisation for Economic Co-operation and Development lowers its forecast to 3.3% for this year, down from the 3.5% it predicted in November

FORECAST. The Organisation for Economic Co-operation and Development cuts its global growth forecast for this year to 3.3%. Image via Shutterstock

Global demand for food products to slow – FAO

Jul 10, 2017 - 9:09 PM

One of the main reasons given for the decline is a slowdown in growth in China where incomes over the outlook period are projected to flatline driving down spending on foodstuffs

Economic growth, climate policies can go together – OECD report

May 23, 2017 - 4:25 PM

Right climate policies can help governments generate growth that will significantly reduce the risks of climate change an OECD report says

NEW REPORT. German State Secretary Jochen Flasbarth (L) and OECD Secretary General Jose Angel Gurria (R) hold up a copy of the 'Investing in Climate, Investing in Growth' report in a press conference in Berlin, Germany, May 23, 2017. KD Suarez/Rappler

Spend for growth, OECD urges governments

Jun 02, 2016 - 12:45 AM

The Organization for Economic Cooperation and Development says there is an urgent need for governments to ramp up spending

epa05340323 OECD Secretary-General Jose Angel Gurria (C-L) with other Ministers and delegations during the meeting of the OECD (Organisation for Economic Co-operation and Development) Council at ministerial level at the organization headquarter in Paris, France, 01 June 2016. OECD Week places a central emphasis on the need for policies that strengthen productivity, and promote inclusive and sustainable growth. EPA/ETIENNE LAURENT

What does the most vote-rich province want from the next president?

May 05, 2016 - 3:02 PM

Cebu is the most vote rich province in the Philippines with about 2 7 million registered voters

Image courtesy Nico Villarete. Base image of female courtesy Apple Grace Danuco

IMF, World Bank, UN, OECD unite to fight tax evasion

Apr 20, 2016 - 3:25 PM

The 4 organizations announce a joint platform for collaboration on tax issues

epa05259321 International Monetary Fund (IMF) Managing Director Christine Lagarde (R), Spanish Economy and Competitiveness Minister Luis de Guindos (2-R), French Finance Minister Michel Sapin (3-R), German Finance Minister Wolfgang Schaeuble (C), British Chancellor of the Exchequer George Osborne (3-L), Italian Finance Minister Pier Carlo Padoan (2-L), and OECD chief Jose Angel Gurria (L) participate in a press conference of the G5 Ministers of Finance and the Secretary General of the OECD 'Joint action against tax fraud and money laundering - transparency at the global level' at IMF Headquarters in Washington, DC, USA, 14 April 2016. The IMF/World Bank Spring meetings will take place in Washington, DC, on 15-17 April 2016. EPA/SHAWN THEW

Panama squirms as Panama Papers scandal keeps expanding

Apr 12, 2016 - 8:26 AM

President Varela: Panama does not deserve to be singled out on an issue that plagues many countries

Panamanian President Juan Carlos Varela delivers a message to the nation, in Panama City, Panama, April 6, 2016. Alejandro Bolivar/EPA

Panama to deepen talks with OECD after revelations

Apr 08, 2016 - 11:51 AM

Vice President Isabel De Saint Malo: We are going to establish technical level dialogue between Panama and the OECD specifically on exchanging information

TAX HAVEN? A general view shows boats cruising the Panama Bay, in Panama City, Panama, April 6, 2016. Alejandro Bolivar/EPA

Panama urges talks to avert financial crackdown

Apr 07, 2016 - 10:17 AM

UPDATED President Juan Carlos Varela vows firmly to confront whoever comes to put down Panama s image

TAX HAVEN? A general view shows boats cruising the Panama Bay, in Panama City, Panama, April 6, 2016. Alejandro Bolivar/EPA

Panama Papers: Leak sparks backlash against tax evaders

Apr 06, 2016 - 8:22 PM

International attention turns to tax cheats with Panama s role in particular focus

DAYLIGHT. The building where is the office of Panamanian law firm Mossack Fonseca in Panama City, Panama, April 4, 2016. Alejandro Bolivar/EPA

G20 nations pledge all tools to lift growth

Feb 27, 2016 - 5:37 PM

UPDATED The world s top economies cite risks such as falling commodity prices and geopolitical tensions

CHINA G20. Amid slow growth and economic downturns, finance ministers of the world's top 20 economies promise to use all available tools to help lift growth. Photo by Rolex Dela Peña/EPA

Development banks pledge $15B in new climate funds – officials

Oct 10, 2015 - 9:00 AM

World leaders are scrambling to reach the magic number of 100 billion in funding to combat global warming and help vulnerable nations cope with the impact of climate change

NEW CLIMATE FUNDS. IMFC Chairman and Mexico's Bank Governor AgustÌn Carstens speaks at the opening of the IMFC meeting as members listen during the 2015 IMF/World Bank Annual Meetings in Lima, Peru, October 9, 2015. Handout photo by EPA/Stephen Jaffe

China, US rate hike loom over global finance summit

Oct 02, 2015 - 8:02 PM

The prospect of rising US interest rates and China’s slowdown are contributing to uncertainty and higher market volatility the IMF chief says

BE CONCERNED. "There has been a sharp deceleration in the growth of global trade. And the rapid drop in commodity prices is posing problems for resource-based economies," says International Monetary Fund chief Christine Lagarde. File photo by EPA / Jim Lo Scalzo

Hard money, soft standards? Tough questions for China's new bank

Apr 01, 2015 - 1:14 PM

China is basking in the enthusiastic acceptances of its invitations despite US opposition but the victory could end up a case of ‘be careful of what you wish for ’ analyst says

Inequality worst in decades in range of countries – OECD

Dec 09, 2014 - 9:42 AM

The Organization for Economic Cooperation and Development OECD says most of its 34 member countries has seen a growing widening in the inequality gap

NYC'S POOR. A homeless man with a sign asks for money on a street in New York on October 14, 2014. Jewel Samad/AFP

APEC 2015: Technology key to developing SMEs

Dec 08, 2014 - 4:46 PM

Experts agree that using big data on small and medium enterprises provides a significant opportunity in empowering SMEs and enabling inclusive growth

PH joins OECD committee on fiscal affairs by Jan 2015

Nov 17, 2014 - 3:58 PM

The inclusion is seen to aid the country in its fight against base erosion and profit sharing by some multinational firms

APEC delegates praise Aquino's 'economic stewardship'

Nov 11, 2014 - 1:40 PM

President Aquino tells delegates he has a good Cabinet whose members make personal sacrifices to serve the country

Global income equality now back at 1820s levels: OECD

Oct 03, 2014 - 12:18 PM

In a major report the Organization for Economic Cooperation and Development noted inequality shot up after globalization took root in the 1980s

OECD vows to 'change the game' with new tax rules

Sep 17, 2014 - 1:23 AM

Using the basic principle that tax should be paid in the country where it is generated the proposals intend to prevent corporate tax avoidance by multi national companies

Huge discrepancies on heart disease in Europe

Aug 20, 2014 - 11:04 AM

Drawing on data from the World Health Organization WHO and the Organization for Economic Cooperation and Development OECD the report covering 52 countries noted a generally positive trend but with huge discrepancies across the region

Financial crisis spurred obesity –OECD

May 27, 2014 - 10:06 PM

One in 5 children is overweight in OECD countries In the United States Italy and Greece rates are as high as one in 3 children

47 countries move on tax evasion by agreeing to share bank data

May 07, 2014 - 11:17 AM

They agree to pass laws that will allow them to collect information on all bank accounts and exchange it with participating countries

AFP file photo

Japan PM defends 'Abenomics' as panacea for turnaround

May 06, 2014 - 8:51 PM

Shinzo Abe who is on a six nation European tour launches a spirited defense of his Abenomics reforms

ABENOMICS. Japanese PM Shinzo Abe on Tuesday launched a spirited defense of his

England brings in Chinese teachers to boost math grades

Mar 12, 2014 - 9:02 PM

Based on an assessment of the abilities of 15 year olds Britain s score was the same as the OECD average but they were all outshone by Asian nations

File photo of Big Ben and the UK Parliament from EPA/ Facundo Arrizabalaga

PH agriculture: Why is it important?

Mar 07, 2014 - 9:05 AM

Why is agriculture important for the future and food security of the Philippines?

AGRICULTURE. The Philippines can better address its food security and nutrition issues if the agriculture sector is further improved. Photo by Jay Directo/AFP

OECD delivers new global standard to target tax cheats

Feb 23, 2014 - 12:21 PM

The measures proposed involve countries obtaining information from their financial institutions and exchanging the details automatically with other jurisdictions on an annual basis

AFP Photo

Hit like ton of BRICS: 2013 tough year for emerging markets

Dec 25, 2013 - 8:00 PM

The BRICS – Brazil Russia India China and South Africa – and other emerging markets had for years been the stars of the world economy – but that ground to a halt in 2013

TOP OF THE BRICS. The leaders of the BRICS economies pose for a photo at the G20 summit in Saint Petersburg, Russia, 5 September 2013. From L-R: Pres. Dilma Rousseff (Brazil), PM Manmohan Singh (India), Pres. Vladimir Putin (Russia), Pres. Xi Jinping (China), and Pres. Jacob Zuma (South Africa). AFP/Sergei Karpukhin

Switzerland signs last rites for banking secrecy: OECD

Oct 16, 2013 - 2:13 AM

Switzerland breaks the seal on its banking secrecy by signing an international agreement on fighting tax evasion on October 15

Budget rift pushes Washington to the brink

Oct 16, 2013 - 1:45 AM

Washington s risky game of political brinkmanship neared crisis point with no deal yet nailed down to avoid a catastrophic US debt default just 36 hours before a crucial deadline

NOT OPEN FOR BUSINESS. The United States federal government went into a partial shutdown October 1, 2013, after Congress failed to pass a budget bill. In this photo, a stop sign is seen next to the US Congress building in Washington DC, September 30, 2013. AFP/Mladen Antonov

White House, Republicans bicker, shutdown drags on

Oct 10, 2013 - 10:46 AM

Washington is lurching ever closer to an October 17 deadline to raise the US government s statutory borrowing limit

NOT OPEN FOR BUSINESS. The United States federal government went into a partial shutdown October 1, 2013, after Congress failed to pass a budget bill. In this photo, a stop sign is seen next to the US Congress building in Washington DC, September 30, 2013. AFP/Mladen Antonov

Africa's most biodiverse area endangered by UK oil firm – WWF

Oct 08, 2013 - 8:56 AM

The wildlife charity claims that Soco International s oil exploration activities in and around Virunga National Park puts people animals and habitats at risk

South Korea's Creative Economy Agenda

Sep 10, 2013 - 10:28 AM

The convergence of science and technology with industry the fusion of culture and industry and the blossoming of creativity in the very borders that were once permeated by barriers

'PH only emerging Asian nation with strong momentum'

Sep 09, 2013 - 7:20 PM

The OECD Development Center says the Philippines is the only emerging Asian nation with strong business cycle although China and Singapore have stabilized

France removes PH from blacklist

Sep 01, 2013 - 11:24 AM

France EU s No 2 economy no longer considers the Philippines among the countries considered uncooperative in fighting tax related matters

OECD says crisis worsens income inequality

May 15, 2013 - 8:52 AM

The global economic crisis worsened income inequality in the world s leading economies substantially and there is a growing risk that the most vulnerable will be hit harder still

Don't relax, Davos warns on global economic crisis

Jan 27, 2013 - 10:17 AM

The world s political and business elite headed home Sunday January 27 from this year s Davos forum with warnings that while the worst of the financial crisis seems over there is still much to be done

World faces 'dangerous' economic cocktail: OECD

Oct 16, 2012 - 10:15 PM

The world faces a dangerous cocktail of low growth and high unemployment OECD chief Angel Gurria said

Unemployment rate in rich countries edges up: OECD

Sep 11, 2012 - 10:13 PM

Unemployment rates continued to vary widely in July

Austerity among rich countries hit developing world: OECD

Apr 08, 2012 - 10:52 PM

Rich countries applying budget austerity cut their aid to developing countries by 2 7 in 2011