Finland: Bank Of Finland Reduces World Economic Growth Outlook
According to the Helsinki Times, the central bank of Finland reduced its world economic growth forecast for 2014 to 3.5%, which is down 0.2 percentage points from the previous estimate. The central bank justified this downward revision by arguing that the conflict in the Ukraine may have a negative short-term impact on growth.
Japan: Japan’s Sales Tax Hike: What You Need To Know
CNBC provides a breakdown of the details and debate surrounding the sales tax hike to be introduced in Japan on 1 April. The sales tax will increase from 5.0% to 8.0% and is the first rate change since 1997.
Ukraine: Ukraine Agrees To 50% Gas Price Hike Amid IMF Talks
BBC reports that Ukraine’s government will raise gas prices by 50% in an attempt to secure an aid package from International Monetary Fund (IMF). A deal between the government and the IMF is expected by this Thursday. The deal will unlock USD 15 billion in funding and further financial aid from EU and US.
United Kingdom: CBI Says Strong UK Growth Is Slowing After Recent Highs
BBC News on the Confederation of British Industry (CBI), which says that the UK economy is still growing strongly, but not at the pace seen in recent months.
India: Congress Poll Manifesto Forward Looking Document: India Inc
India’s Financial Express reported that India Inc. — a common term used by the Indian media to refer to the formal sector of the country– recently said the Congress election manifesto 2014 has pledged to restore India to 8 per cent plus growth rate within three years and boost manufacturing to 10 per cent with special emphasis on small and medium enterprises.