Word: poore
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...previous year. Even though some Asian economies, chiefly China and India, appear to have passed through the worst of the downturn, analysts still doubt StanChart can repeat 2008's performance this year. Brokerage CLSA predicts pretax profit growth will slow to 4% in 2009. Reflecting the heightened risk, Standard & Poor's in late April revised its outlook for the bank to negative. "The biggest single worry is the economies in the region," says Nick Hill, bank credit analyst at Standard & Poor's in London. "We think they've taken measures to pull in their horns...
...first glance, the WHO's first ever report on worldwide road safety reaches a basic conclusion: healthwise, you're better off living in a rich country than in a poor one. Though they're home to less than half the world's registered vehicles, low- and middle-income countries account for more than 90% of traffic fatalities. The report succeeds in spelling out the global impact of those crashes in cold, hard cash. Traffic injuries cost a whopping $518 billion a year. Poor countries generally spend more money responding to car accidents than they receive in development...
...hotel or restaurant supports four other people, according to Gerson Misumi, managing director of Tamarind Management, a hospitality firm in Kenya and South Africa: "There's a chain of services that depend on our industry." Adds Lipman of the UNWTO: "Tourism is a good development agent because poor countries don't have to manufacture it." Developing nations already have their product--nature, culture, tradition--and all that's required to profit is a bit of investment in infrastructure and marketing. "The market comes to these countries then wanders around depositing foreign-exchange income wherever it's directed, including poor rural...
...same sort of political martyr Chávez became seven years ago. Their dispute with Zelaya, in fact, arose from their fear that he was making a bid to become another Chávez. Earlier this year, Chávez, a democratically elected President who has enfranchised Venezuela's poor but has been widely criticized for undermining the nation's other branches of government, won a referendum that lets him seek re-election indefinitely. (Other Latin Presidents, like Bolivia's Evo Morales, have also pushed through constitutional changes allowing them to seek additional terms.) Zelaya, whose term ends early next...
...Instances of farmer indebtedness and suicide, already frequent, could go up. Although experts point out that there is no immediate threat to India's food security after last year's bumper crop last year, low yields could make the proposed Food Security Act, new legislation that aims to provide poor families with a legally enforceable right to food, practically difficult to implement. The effects are being felt beyond the farms in urban areas as well, which are reeling under water and power shortages due to declining water levels in reservoirs that provide both water and hydroelectricity. Delhi residents took...