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JICA is the Foreign Ministry's
27-09-2018 03:14 AM
Messaggio: #1
JICA is the Foreign Ministry's
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LONDON Nike Air Max 2018 Italia , July 21 (Xinhua) -- With GDP expansion at 3.1 percent expected for 2014, Britain is set to achieve the strongest growth rate among the Group of Seven (G7) economies, said the EY ITEM Club Monday.


British GDP growth rate is higher than the 2 percent for Canada and 1.8 percent for Germany, as well as the 2.9 percent that it given three month before, according the EY ITEM Club's Summer Forecast report.


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Besides consumption acting as the main driving force of the economic recovery in the first half Nike Air VaporMax Uomo Italia , businesses are now expected to pick up the baton with capital investment by firms set top surprise on the upside, said the London-based economic think-tank.


Companies' capital spending might expand significantly by 12.5 percent in 2014, foretasted the report. And consumer spending might grow moderately at 2.5 percent in 2015.


British unemployment rate will continue its descent, falling from 6.5 percent in the three-month to May 2014, to 5.6 percent by the end of 2015.


The country's economy will enjoy a "perfect combination" of consumption financed by strong employment Nike Air VaporMax Italia , rather than wage growth and borrowing, accompanied by low inflation and low interest rate, said the report.


"Business investment is being ramped up generating over half of the growth over the last year and helping to rebalance the economy away from consumption," said Peter Spencer, chief economic adviser to the EY ITEM Club.


"Underpinned by a strong labor market that provides the best of both worlds - boosting incomes via employment rather than wages Nike Air Max 97 Uomo Italia , while keeping inflation low - the UK economy has hit the sweet spot," said Spencer.


The report predicts that real incomes of Britons will grow at 1.8 percent in 2014 and 2.2 percent in 2016.


INTEREST RATE RISE


The economic think-tank expects that house prices will increase by 9.1 percent this year and 7.4 percent in 2015 before they slow down to 4.2 percent in 2016, as the strength in market demand giving builders confidence to lay the foundation of a sustained program of house building.


But Spencer comments that:" Worries about interest rate hikes will reinforce the effect of the Financial Policy Committee's (finance watchdog of the Bank of England) recent measures and help prevent excessive risk taking."


The central bank last month launched new measures to cap the households indebtedness caused by the heating housing market and soaring mortgage lending.


Overall, the EY ITEM Club expects the first interest rate rise will not be later than early 2015, as wages will only recovery slowly this year Nike Air Max 97 Italia , holding back the hawkish tones among the policy makers.


Spencer comments: "The markets are jumping the gun in thinking that rates will rise this year. Low inflation, the strong pound, and ongoing risks from the euro zone, all suggest caution in raising rates."

" Japan's Prime Minister Shinzo Abe attends a news conference at his official residence in Tokyo November 21, 2014. REUTERS

Japan is considering creating a government-backed financing arm for weapons exports Nike Air Max 270 Donne Italia , a move that would accelerate Prime Minister Shinzo Abe's shift away from the country's pacifist past and strengthen Tokyo's regional security ties.


As a first step, the government plans to convene an advisory panel to consider specific proposals to create a way to finance military sales by Japanese firms and fund defence industry cooperation abroad, four people involved told Reuters.


One possibility to be considered is for a government-backed body to provide concessional financing for military projects modelled on the self-financing Japan Bank for International Cooperation (JBIC) and the Japan International Cooperation Agency (JICA), said the people involved.


They asked not to be identified because of the sensitivity of talks on a move that would likely upset China, where memories of Japan's wartime past run deep and which has already criticized Abe's decision in April to end a decades-old ban on arms exports.


Japan's Defense Ministry declined to comment. ""We are considering a number of options in regard to defence equipment Nike Air Max 270 Uomo Italia , but as of yet, nothing has been decided,"" a spokesman said in response to a question from Reuters.


Abe dissolved parliament last week and called lower house elections for Dec. 14, which his Liberal Democratic Party and its coalition partner are expected to win.


The advisory panel would meet after the election. It would comprise about 10 members, including a legal and a banking expert as well as academics and defence industry executives Nike Air Max 270 Italia , people involved said.


""The panel will look at everything from finance to finding deals, the negotiating process and maintenance and support,"" one of the sources said.


JBIC issues its own bonds to finance energy projects. Overseen by the Finance Ministry it also helps Japanese industrial firms expand abroad by providing loans for overseas customers to buy Japanese machinery.


JICA is the Foreign Ministry's main conduit for dispersing much of the nation's $17 billion (10.7 billion pounds) in annual overseas development aid. The agency builds schools and hospitals and finances agriculture and health projects, with Japanese engineers, nurses and other experts often involved.


Other ideas under consideration include adding a financing arm to a defence procurement agency planned for next year or to expand JBIC's remit to cover military projects.


Kawasaki Heavy Industries Nike Air Force 1 Just Do It Italia , which builds aircraft and submarines, last year told Reuters it had approached JBIC about possibly financing foreign sales of a civilian version of its C-2 military transport plane.


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A number of potential deals under discussion in recent months could benefit from concessional financing from Tokyo.


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