ADB cuts developing Asia growth forecasts July 12, 2012 - 12:41 AMT PanARMENIAN.Net - The Asian Development Bank has cut growth forecasts for developing Asia. It says Europe's worsening financial crisis, sluggish recovery in the U.S. and slower growth in China and India have dampened the region's growth prospects. According to the Associated Press, a report released Thursday, July 12 predicts the region's economies will expand by 6.6 percent this year and 7.1 percent next year. The figures are lower than the bank's earlier growth outlook of 6.9 percent this year and 7.3 percent in 2013. The report says economic growth in developing Asia moderated during the first half of 2012 as slower growth in the U.S. and the eurozone reduced demand for the region's exports.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Get Started: An educational platform for young startuppers  The Get Started program which operates in two phases is an important platform for young startuppers.Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan.Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months.Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |
