Indonesia: What Indonesia Really Needs to Kick-Start Growth
As Indonesia awaits the official result of the presidential elections to be announced on 22 July, it is clear that the ultimate victor will need to help fix the country’s infrastructure in order to drive economic growth. (Source: CNBC)

China: China’s Economic Growth Picks Up
China’s economy picked up speed in the April-to-June quarter, a sign that the government’s stimulus moves have started to have an impact. The world’s second-largest economy expanded 7.5%, from a year ago, up from 7.4% growth in the previous quarter. (Source: BBC News)

Spain: Rajoy’s Tax Cuts Seen Threatening Spanish Deficit
The corporate and income tax cuts, planned by the Prime Minister Mariano Rajoy, are seen to be a threat for the government’s budget deficit and public debt. The PM, who is facing election tension, said that the tax overhaul was needed as it was time to lift the burden on Spaniards who has been dealing with austerity measures for four years. (Source: Bloomberg)

Philippines: Typhoon Rammasun Hits Philippines
Typhoon Rammasun has killed at least 10 people and prompted the evacuation of almost more than 370,000 people as it hit the Philippines and shut down Manila. According to the red cross, there was only minor damage in the capital. However, the full extent of the damage is still unknown. (Source: Reuters)

BRICS: BRICS Nations to Create USD 100 Billion Development Bank
The leaders of the five Brics countries have signed a deal to create a new USD 100 billion development bank and emergency reserve fund. (Source: BBC News)

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