Middle East and Africa
Protests spread to Sudan with anger of ‘anti-Islam’ film
Protests have erupted in the Sudanese capital Khartoum where both German and British embassies have been attacked after anger was fuelled by a film mocking Islam. The anger has turned into a contagious phenomena with reports of demonstrates arising throughout North Africa in Tripoli, Sanaa and Cairo also. It is not the first time feelings have been fuelled across the region following the Arab spring, which too were felt in Sudan. Islamist groups, including the Muslim Brotherhood, have called for a peaceful “million-man march” in Cairo, but a number of those groups withdrew the calls.
Latin America
Brazil’s growth cast falls to three year low
The growth forecast for Brazil has been cut from 3% to 2% this year. The report has come as the financial crisis hinders exports and has given rise to local debt levels which are affecting domestic consumption. The forecast is the worst the country has seen for three years, showing a dip from a 2010 high of 7.5%. The forecast is damaging to one of the fastest growing economies in the world and one that is due this year to over take the United Kingdom as the sixth biggest economy in the world. It was Brazil who only until recently were tipped as a possible bailout source for the Euro-zone.
Asia
China aggravate Island dispute with Japan
Chinese ships briefly entered waters which are disputed between themselves, Japan and Taiwan. The territorial dispute has been ongoing for some months, but until now neither country has defied others in such a way ahead of formal negotiations. The act of defiance was a “law enforcement” procedure to illustrate legitimate ownership over the islands. The Japanese coast guard said all sic of the ships have since left after only a brief time in the disputed water. Three of the islands were privately owned until last week they were bought by the Japanese government. The Islands were the central topic of a diplomatic row back in 2010. The chief Cabinet Secretary of Japan said “We understand that the dispatch of six ships is surely an unprecedented case, considering past incidents.”
India opens up markets to international chains
The Indian government has overcome fierce opposition with plans to champion foreign supermarkets in its lucrative retail sector. The plans were pushed through after obstacles prevented the bill from coming to pass after a suspension last year. The market will now open up over half the stake of multi-brand retailers to international firms such as Tesco and Walmart. It appears that the move comes as part of a series of stimulus reforms aimed to pick up a stagnating economy. It has been reported that The Prime Minister told his cabinet that, “the time for big bang reform has come; we have to go down fighting”.
Europe
EU told to stop fishing for five years
A London based think tank has released a controversial report stating that Europe should suspend fishing to allow the re-growth of fish stocks. The New Economics Foundations argues that by suspending fishing not only will most species of fish be back to natural levels within five years, but it will generate billions of pounds in profits by 2023. The report argued that private investment could compensate for the interim loss of money and maintenance of boats. Fish stocks have been a cause for concern in recent years as catch volumes have severely decreased and 75% of stocks are overfished annually. A senior UK fishing industry spokesman critiqued the report in saying it failed to acknowledge how stocks are recovering without such an overhaul of policy.
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