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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We are losing competitiveness' in the EU, former Italian Prime Minister Letta saysEnrico Letta, author of "Much More Than A Market" and former Italian prime minister, discusses the European economy.
Persons: Letta, Enrico Letta Organizations: EU Locations: Italian
"Knowledge spillovers" are IRL meetings that can expand your network or help you learn new things. Economists define knowledge spillovers as serendipitous meetings — on the bus or in a bar, for example — that can expand your professional network or help you learn new things. It's one reason big cities have been "underappreciated" during the pandemic, says economist Enrico Moretti. AdvertisementA 2022 study on knowledge spillovers in Silicon Valley cited the work of developer AnnaLee Saxenian, stating that "frequent face-to-face interactions, and the knowledge flows that resulted, were a large part of what made Silicon Valley the dominant technology hub it is today." You can read more about the professional benefits to living in a big city right here.
Persons: , Insider's Aki Ito, Enrico Moretti, AnnaLee Organizations: Service Locations: Silicon Valley
Moving away from a major city, Moretti found, can be terrible for your career. The market for WFH jobs has cratered, putting everyone who moved away from big cities at risk. Those who moved away from big cities effectively gave up their career insurance. In a big city, you also run into people who work for other companies in your industry — on the bus, at the bar, in line at the deli. "The benefits of being a big city," Moretti tells me, "have been underappreciated" during the pandemic.
Persons: I've, , We've, Enrico Moretti, Moretti, Des Moines, they'll, they're overqualified, That's, Madison Hoff, Aki Ito Organizations: Franciscan, Census, University of California, Business Locations: New York, Los Angeles, San Francisco, Seattle, America's, Berkeley, Paris, Des, Iowa, California, Sacramento, Bay
AdvertisementThe three-body problem is unsolvable and chaoticSome of the show's action takes place in a virtual world that's orbited by three suns. "This is a centuries-old problem," Shane Ross, an aerospace and ocean engineering professor at Virginia Tech, told Business Insider. Alpha Centauri is the closest star system to EarthThe three-body system in the story is based on a real neighboring star system called Alpha Centauri. At about 4 light-years from Earth, it's the closest star system to our own and contains three stars: Alpha Centauri A, Alpha Centauri B, and Proxima Centauri, which has two planets orbiting around it. A view of the bright triple-star system Alpha Centauri.
Persons: , Liu Cixin, Shane Ross, Isaac Newton, Ross, Georgios Kollidas, Alpha Centauri, Franck Marchis, Davide De Martin, they're, Marchis, Ye Wenjie, Enrico Fermi, Benedict Wong, Jerry Ehman, Sir William Hamilton, William of Ockham, Aristotle, Ptolemy, Maximilien Brice, John Finney, It's Organizations: Service, Netflix, Oxford University, Business, Virginia Tech, Alpha, Alpha Centauri, Proxima, SETI Institute, ESO, Columbia University, USA, Keystone, Getty, Ohio State University, Extraterrestrial Intelligence, SETI, American AstroPhysical, CERN Locations: Ohio, China, North America
Italy's Meloni Opens Africa Summit, Promises New Partnership
  + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +3 min
The summit, being held in Italy's ornate Senate, will last all day, with Italian ministers due to outline an array of initiatives, from energy and infrastructure to health and education, that Meloni says will be mutually beneficial. "We believe it is possible to envision and write a new chapter in the history of our relationship, a cooperation among equals, far from any predatory imposition or charitable stance towards Africa," Meloni said in an opening speech. Eni, Italy's largest importer of natural gas, has already countered lower Russian supplies by shipping increased volumes from Africa, where it has had a presence for decades. The company has said Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years. Most had departed from North African countries such as Tunisia and Libya, many fleeing poverty and conflict in sub-Saharan Africa and the Middle East.
Persons: Crispian Balmer, Angelo Amante ROME, Giorgia Meloni, Meloni, Enrico Mattei, Ursula von der Leyen, Charles Michel, Mattei, Alex Richardson Organizations: Italian, Eni, European Union, European, Energy, EU Locations: Rome, Africa, Italy, China, Russia, Gulf, Tunisia, Senegal, Kenya, Republic of Congo, Somalia, Ukraine, Algeria, Egypt, Libya, Europe, North, Saharan Africa
In 1944, Hahn won a Nobel prize for the discovery. It led to the atomic bomb , nuclear power, and a Nobel Prize in 1944 for German chemist Otto Hahn. ullstein bild Dtl./Getty ImagesMeitner was well respected by other physicists — Einstein called her "our Marie Curie" — comparing her to the trail-blazing, two-time Nobel Prize winner. Left to right: Otto Hahn, Dr. Hartmann, Lise Meitner, Werner Heisenberg, and Theodor Heuss. AdvertisementOverlooked for the Nobel PrizeHahn was awarded the 1944 Nobel Prize in chemistry for the discovery of nuclear fission.
Persons: Lise Meitner, Otto Hahn, Hahn, Meitner, , Hahn's, Marissa Moss, Meitner's, Moss, — Einstein, Marie Curie, Nazi Germany Meitner, Hartmann, Werner Heisenberg, Theodor Heuss, Hitler, " Moss, Fritz Strassman, Amanda Macias, Strassman, wasn't, Otto Frisch, Frisch, Strassmann, Enrico Fermi Organizations: Service, Business, Kaiser Wilhelm Institute, Physics Locations: Berlin, Austria, Nazi Germany, Germany, Sweden, Ba
Meloni Looks to Reset Italy's Relations With Africa
  + stars: | 2024-01-26 | by ( Jan. | At A.M. | ) www.usnews.com   time to read: +4 min
"What needs to be done in Africa is to build cooperation and serious strategic relationships as equals, not predators," Meloni told a news conference this month. Founder Mattei expanded Italy's presence in Africa, presenting his company as a friendly alternative to U.S. and French oil majors. But climate change experts question the wisdom of sinking significant new investments into gas infrastructure when existing projects already guarantee Italy's energy security. Meloni is not the first Italian leader to seek better ties with Africa and draw a veil over Italy's fraught colonial legacy, which Rome has never wanted to confront. "My goal is to work in Africa and block the departures in Africa," she said this month.
Persons: Crispian Balmer ROME, Giorgia Meloni, Enrico Mattei, Meloni, Arturo Varvelli, Mattei, Crispian Balmer, Alison Williams Organizations: Eni, United Arab, European Council, Foreign Relations, Union, European Commission Locations: Rome, Italian, Italy, Africa, Europe, China, Russia, United Arab Emirates, Turkey, Meloni, Ukraine
In Uruguay, Renato sets off an explosive to reveal an ancient, glittery stone: amethyst. In Italy, Enrico cuts slabs off of one of the most expensive marbles in the world: Calacatta. Stones, salts, crystals, and other natural resources are worth millions of dollars, but getting to them is no easy feat. All over the world, miners are setting off on dangerous and strenuous missions on mountaintops, in underground tunnels, and below the seas to excavate these precious resources. Our first stop is Scotland, where experienced stonemasons turn a rare granite into Olympic curling stones worth over $600 apiece.
Persons: Renato, Enrico Locations: Uruguay, Italy, mountaintops, Scotland
BARI, Italy (AP) — The year has gotten off to a slow start for a rescue ship that typically plies the Mediterranean Sea looking for migrants and refugees in distress. Italian maritime authorities now routinely assign privately operated rescue ships to ports in central and northern Italy, hundreds of miles and several days of navigation away from where they find boats in trouble. Political Cartoons View All 253 ImagesTo date, 13 or 14 charity-run rescue ships have been impounded for various violations. But she said the presence of charity-run ships in the Mediterranean must be limited and strictly regulated. Charity ships rescue only around 8% of the asylum-seekers who reach Italy, down from a peak of 41% in 2017.
Persons: Premier Giorgia Meloni, Alessandro Porro, ” Mary Finn, ” Sara Kelany, , Meloni, Enrico Mattei, haven't, Edi Rama Organizations: SOS Mediterranee, Premier, Authorities, SOS, Meloni’s Brothers, International Organization for Migration, ENI, Constitutional, Edi Locations: BARI, Italy, Europe, North Africa, Bari, Italian, Lampedusa, Africa, Tunisia, Albania, Balkan
CNN —Go to a major tennis tournament and it’s hard to miss the Carota Boys, a team of six men decked in full-body, bright-orange carrot costumes. It’s only over the past seven or so months that the Carota Boys’ love for Sinner has really blossomed, endearing themselves to the tennis public in the process. The conception of the Carota Boys originates with the friends’ tradition of buying tickets for tennis tournaments to celebrate each other’s birthdays. The Carota Boys attend the ATP Tour Finals in Turin, Italy, watching Sinner take on Greece's Stefanos Tsitsipas. “Jannik and all the Carota Boys are born in a place near the mountains.
Persons: Sinner, – Lorenzo Ferrato, Francesco Gaboardi, Gianluca Bertorello, Enrico Ponsi, Alessandro Dedominici, Alberto Mondino –, TIZIANA FABI, Ferrato, Lavazza, Novak Djokovic, , ” Ferrato, “ Jannik, Clive Brunskill, “ Let’s, let’s, we’ve, Jannik, , Valentino Rossi, Max, Michael, Schumacher, Daniil Medvedev, Valerio Pennicino, Carlos Alcaraz, Denmark’s Holger Rune, Djokovic, ” Djokovic, he’s, Sinner’s Organizations: CNN, Carota Boys, ATP, Getty, CNN Sport, Boys, Wimbledon, Davis, ITF Gaboardi, Italy, Australia, Locations: Italy, It’s, Turin, Revello, Rome, AFP, Vienna, Austria, Paris, London, New York, Malaga, Spain, Formula
The Rise and Fall and Rise of San Francisco
  + stars: | 2023-11-07 | by ( Ian Volner | ) www.nytimes.com   time to read: +1 min
By the 1860s, as Davenport writes, “many of the city’s boardinghouses, hotels and businesses sat on dozens of unstable city blocks atop ‘fill’ or ‘made’ land,” as did the water systems meant to protect them from fire. “It was inevitable,” Davenport says, that “another ‘big’ one would strike the Bay.”On April 18, 1906, at around 5:12 a.m., it happened. An earthquake later estimated at 8.3 on the Richter scale convulsed the region, its epicenter some two miles out to sea. When it made landfall, as one resident claimed, it “was like the waves of the ocean”: The ground leaped and buckled; bedroom walls fell on sleeping occupants; facades fell off their frames and into the street. The worst was yet to come, however, as four days of fire ravaged the city, scorching a combined 500 blocks and leaving a quarter-million homeless.
Persons: Davenport, ” Davenport, , Robert Altman, Jack London, Enrico Caruso — Locations:
[1/2] A view of the Ubisoft Entertainment logo in Saint-Mande, near Paris, France, September 8, 2022. The maker of the blockbuster "Rainbow Six" franchise reported net bookings of 554.8 million euros ($584.09 million)for the three months to September 30, well above its target of 350 million euros. For the third quarter, the company expects net bookings of around 610 million euros. The group reported operating income of 16.1 million euros for the six months to end September, after a loss of 215.3 million euros in the same period last year. ($1 = 0.9498 euros)Reporting by Enrico Sciacovelli and Olivier Cherfan, editing Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.
Persons: Sarah Meyssonnier, Ubisoft, Yves Guillemot, Mirage, Enrico Sciacovelli, Olivier Cherfan, Jane Merriman Organizations: Ubisoft Entertainment, REUTERS, Ubisoft, Pandora, Rainbow Six Mobile, Thomson Locations: Saint, Paris, France
A Philippine flagged boat is blocked by a China Coast Guard vessel during an incident that resulted in a collision between the two vessels, in the disputed waters of the South China Sea in this screen grab obtained from handout video released October 22, 2023. China Coast Guard/Handout via REUTERS Acquire Licensing RightsMANILA, Oct 23 (Reuters) - The Philippines repeated its call for China to stop "provocative actions", warning that its attempts to block Manila's resupply missions to a disputed atoll in the South China Sea could have "disastrous results". NSC's Malaya accused China of "increasing tensions" in the South China Sea and maintained it was China's actions that caused Sunday's collision. But we are concerned by the escalation and provocations by Chinese vessels who have no business being in the West Philippine Sea," Malaya said. Reporting by Enrico dela Cruz and Karen Lema; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.
Persons: Jonathan Malaya, Thomas, Jay Tarriela, Enrico dela Cruz, Karen Lema, Kanupriya Kapoor Organizations: China Coast Guard, REUTERS Acquire, Rights, National Security Council, China's coastguard, coastguard, BRP, BRP Sierra Madre, Philippine Coast Guard, Thomson Locations: Philippine, South, Rights MANILA, Philippines, China, BRP Sierra, Manila, NSC's Malaya, West Philippine, Malaya
The two countries have had numerous run-ins in areas of the South China Sea in recent months, especially the disputed Second Thomas Shoal, part of the Spratly Islands. The Pentagon said in May it would protect the Philippines if its coast guard came under attack "anywhere in the South China Sea". Beijing claims sovereignty over almost the entire South China Sea, including parts of the exclusive economic zones of the Philippines, Vietnam, Malaysia, Brunei and Indonesia. "The provocative, irresponsible, and illegal action" of the Chinese coast guard vessel "imperilled the safety of the crew" of the Philippine boat, the task force said. "The Philippines behaviour seriously violates the international rules on avoiding collisions at sea and threatens the navigation safety of our vessels," the coast guard said.
Persons: Thomas Shoal, Erik De Castro, China's, Philippines MaryKay Carlson, Ferdinand Marcos Jr, Thomas, Ethan Wang, Bernard Orr, Enrico Dela Cruz, William Mallard Organizations: BRP, BRP Sierra Madre, Philippine Navy, REUTERS, Manila, Manila's, Force, West Philippine, Washington, Pentagon, BRP Sierra, Thomson Locations: BRP Sierra, Philippine, Spratly, South, China, Philippines, Manila, Manila BEIJING, MANILA, South China, States, Beijing, Vietnam, Malaysia, Brunei, Indonesia, China's
By Enrico Dela Cruz and Karen LemaMANILA (Reuters) - The Philippines repeated its call for China to stop "provocative actions", warning that its attempts to block Manila's resupply missions to a disputed atoll in the South China Sea could have "disastrous results". The shoal is in the Philippines' exclusive economic zone. It has also summoned the Chinese ambassador and has filed a diplomatic protest, its foreign ministry said. NSC's Malaya accused China of "increasing tensions" in the South China Sea and maintained it was China's actions that caused Sunday's collision. But we are concerned by the escalation and provocations by Chinese vessels who have no business being in the West Philippine Sea," Malaya said.
Persons: Enrico Dela Cruz, Karen Lema MANILA, Jonathan Malaya, Thomas, Jay Tarriela, Enrico dela Cruz, Karen Lema, Kanupriya Kapoor Organizations: National Security Council, China's coastguard, coastguard, BRP, BRP Sierra Madre, Philippine Coast Guard Locations: Philippines, China, South, Philippine, BRP Sierra, Manila, NSC's Malaya, West Philippine, Malaya
There is a thing that happens in cities — that we think happens in cities — when people with lots of different ideas bump into each other on the sidewalk, or at the bar or the grocery store or the gym. The urbanist icon Jane Jacobs identified these collisions as central to what makes cities dynamic. “The chance encounters facilitated by cities,” the economist Edward Glaeser has written, “are the stuff of human progress.”Remote work has, well, blurred this picture. How do workers spill their knowledge when they’ve moved to Montana, or the exurbs? “It’s a trying time, certainly, for my view of the world,” said Enrico Moretti, a Berkeley economist who has written extensively about why it’s good for workers, companies and the economy when people cluster in particular cities.
Persons: Jane Jacobs, , Edward Glaeser, they’ve, , Enrico Moretti Locations: , Montana, Berkeley
Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla (TSLA.O), which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.
Persons: Benedetto Vigna, Flavio Lo Scalzo, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Ferrari, Galliera, Bitpay, Giulio Piovaccari, Tom Wilson, Louise Heavens Organizations: Ferrari, REUTERS, Reuters, Thomson Locations: Maranello, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, East, Africa, China, Milan, London
Ferrari to accept crypto as payment for its cars in the U.S.
  + stars: | 2023-10-14 | by ( ) www.cnbc.com   time to read: +3 min
Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla , which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.
Persons: Manuel Romano, Ferrari, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Galliera Organizations: Ferrari, Auto, Getty, Reuters Locations: Padova, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, Italian, East, Africa, China
Philippine President Ferdinand Marcos Jr, in his first remarks over the latest flare up, said the Philippines was upholding its rights to fish in its exclusive economic zone. China, which says Scarborough Shoal is its territory, has chided the United States for what it calls provocations in the region. Since cutting the floating barrier, the Philippines has observed less Chinese presence in the shoal, Tarriela said. There were three Chinese coastguard vessels and one maritime militia ship seen from an inspection flight on Thursday, versus seven Chinese vessels last week, Tarriela said. There were two Filipino vessels fishing in the shoal, but it remains a struggle to enter the lagoon, he added.
Persons: Ferdinand Marcos Jr, Ursula von der Leyen, Aaron Favila, Marcos, we're, Jay Tarriela, Tarriela, Enrico Dela Cruz, Neil Jerome Morales, Martin Petty, Mark Potter Organizations: coastguard, Philippine coastguard, Manila, Washington, Thomson Locations: Philippine, Manila, Philippines, China, shoal's, coastguard MANILA, Scarborough, Beijing, United States
MANILA, Sept 27 (Reuters) - The coastguard of the Philippines urged the country's fishermen on Wednesday to keep operating at the disputed Scarborough Shoal and other sites in the South China Sea, pledging to step up patrols there despite an imposing Chinese presence. Philippine vessels were unable to maintain a constant presence but were committed to protecting the rights of fishermen inside the country's exclusive economic zone (EEZ), coastguard spokesperson Commodore Jay Tarriela said. China's response has been measured, with its foreign ministry advising Manila on Tuesday to avoid provocations and not cause trouble. Close to shipping lanes that transport an estimated $3.4 trillion of annual commerce, control of the shoal is strategic for Beijing, which claims sovereignty over most of the South China Sea. "The Scarborough Shoal is closer to the Philippines," said fisherman Pepito Fabros who had come ashore in the province of Zambales between trips to sea.
Persons: Jay Tarriela, Gilbert Teodoro, Tarriela, Pepito Fabros, Neil Jerome Morales, Adrian Portugal, Enrico dela Cruz, Martin Petty, Clarence Fernandez Organizations: coastguard, Beijing's, China's coastguard, Thomson Locations: MANILA, Philippines, Scarborough, South China, Bajo de Masinloc, Philippine, China, Beijing, Manila, Hainan, United States, Zambales
By Enrico Dela CruzMANILA (Reuters) -The Philippines said on Monday it executed a "special operation" to remove a floating barrier installed by China at a prime fishing patch in the South China Sea, a move that could stoke tension after a years-long detente in Asia's most disputed waters. Hours after the national security adviser had vowed to take action, the Philippine coastguard said it had removed the floating cordon, at the behest of President Ferdinand Marcos Jr and his special task force on the South China Sea. Japan's government urged calm and said the South China Sea was central to regional stability. "Our country strongly opposes any conduct that heightens tension in the South China Sea," Japanese Chief Cabinet Secretary Hirokazu Matsuno said at a regular press conference. China on Monday said the shoal, which it calls Huangyan Island, was "China's inherent territory", over which it had indisputable sovereignty.
Persons: Enrico Dela Cruz, Ferdinand Marcos Jr, Rodrigo Duterte, Hirokazu Matsuno, Huangyan, Wang Wenbin, Enrico dela Cruz, Liz Lee, Kiyoshi Takenaka, Kanupriya Kapoor, Martin Petty, Alex Richardson Organizations: stoke, coastguard, Philippine coastguard, Philippine, China, South China, Chinese coastguard Locations: Philippines, China, South China, Asia's, Scarborough, Philippine, Manila, Washington, Beijing, British, South, Hague, Tokyo
Chinese Coast Guard boats close to the floating barrier are pictured on September 20, 2023, near the Scarborough Shoal in the South China Sea, in this handout image released by the Philippine Coast Guard on September 24, 2023. Philippine Coast Guard/Handout via REUTERS/File Photo Acquire Licensing RightsSummary Philippines condemns China floating barrier near disputed shoalPhilippines says barrier violates Filipinos' fishing rightsMANILA, Sept 25 (Reuters) - The Philippines will take "all appropriate actions to cause the removal of barriers" in a disputed area of the South China Sea, the country's national security advisor said on Monday. "We condemn the installation of floating barriers by Chinese coast guard," national security adviser Eduardo Año said in a statement. China claims 90% of the South China Sea, overlapping with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. Tarriela said that according to Filipino fishermen, the Chinese coast guard usually installs such barriers when they monitor a large number of fishermen in the area, then remove it later.
Persons: Eduardo Año, Jay Tarriela, Tarriela, Enrico dela Cruz, Kanupriya Kapoor Organizations: Guard, Philippine Coast Guard, REUTERS, Thomson Locations: Scarborough, South China, Philippines, China, MANILA, People's Republic of China, Manila, Vietnam, Malaysia, Brunei, Indonesia, Beijing, Philippine, Bajo, Masinloc
[1/3] Chinese Coast Guard boats close to the floating barrier are pictured on September 20, 2023, near the Scarborough Shoal in the South China Sea, in this handout image released by the Philippine Coast Guard on September 24, 2023. Philippine Coast Guard/Handout via REUTERS Acquire Licensing RightsMANILA, Sept 24 (Reuters) - The Philippines on Sunday accused China's coast guard of installing a "floating barrier" in a disputed area of the South China Sea, saying it prevented Filipinos from entering and fishing in the area. The barrier blocking fishermen from the shoal was depriving them of their fishing and livelihood activities", he said. China claims 90% of the South China Sea, overlapping with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. Three Chinese coast guard rigid-hull inflatable boats and a Chinese maritime militia service boat installed the barrier when the Philippine vessel arrived, he said.
Persons: China's, Jay Tarriela, Tarriela, Rodrigo Duterte, Ferdinand Marcos Jr, Enrico Dela Cruz, William Mallard Organizations: Guard, Philippine Coast Guard, REUTERS Acquire, Rights, of Fisheries, Resources, Thomson Locations: Scarborough, South China, Rights MANILA, Philippines, Manila, China, Vietnam, Malaysia, Brunei, Indonesia, Beijing, Philippine, Bajo, Masinloc
Former Italian president Napolitano dies aged 98
  + stars: | 2023-09-22 | by ( ) www.reuters.com   time to read: +2 min
Former Italian President and senator Giorgio Napolitano speaks following a talk with Italian President Sergio Mattarella at the Quirinal Palace in Rome, Italy, April 13, 2018. REUTERS/Tony Gentile/File Photo Acquire Licensing RightsROME, Sept 22 (Reuters) - Former Italian president Giorgio Napolitano, a onetime communist who helped to steer his country through a debt crisis in 2011, died on Friday aged 98. Condolences poured in from Italian Prime Minister Giorgia Meloni's office, other politicians, the Vatican and beyond. Napolitano became president in 2006 and was elected for an unprecedented second seven-year term in 2013. Reporting by Angelo Amante; writing by Keith Weir and Angelo Amante Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.
Persons: Giorgio Napolitano, Sergio Mattarella, Tony Gentile, Giorgia, Pope Francis, Napolitano's, Clio Bittoni, Napolitano, Pope Benedict XVI, Francis, Mario Monti, Silvio Berlusconi, Enrico Letta, Angelo Amante, Keith Weir, Gareth Jones Organizations: Italian, REUTERS, Rights, European Commission, Thomson Locations: Rome, Italy, Italian
Updating its regional economic outlook, the ADB trimmed its 2023 growth forecast for developing Asia to 4.7%, from 4.8% projected in July. But the growth forecast for next year for the grouping, which consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand, was revised slightly upwards to 4.8% from 4.7% previously. China's property crisis "poses a downside risk and could hold back regional growth," the ADB said in its report. The Manila-based lender maintained its 2024 growth forecasts for China and India at 4.5% and 6.7% respectively. While growth has so far been robust and inflation pressures are receding in developing Asia, Park said governments need to be vigilant against the many challenges the region faces, including food security.
Persons: Thomas Peter, Albert, Park, Enrico Dela Cruz, Mikhail Flores, Kanupriya Kapoor Organizations: REUTERS, Rights, Asian Development Bank, ADB, East, Thomson Locations: Beijing, China, Rights MANILA, Asia, El, Pacific, Japan, Australia, New Zealand, East Asia, South Asia, Southeast Asia, India, Manila
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