GDP growth slows
Paris - The U.S. economy will grow in line with its potential in 2005, but sagging exports, rising inflation and big deficits raise the risk of a growth-sapping spike in inflation and interest rates, the OECD said on Tuesday. The Paris-based Organization for Economic Cooperation and Development said in its half-yearly Economic Outlook report that given great uncertainty concerning how much resource slack remains, inflationary pressures -- both home-made and imported -- might intensify faster than projected. Failure to curb government spending or revive exports put at risk the OECD\'s forecast of U.S. GDP growth of 3.6 percent at market prices in 2005 -- already down from 2004\'s 4.4 percent -- and the 3.3 percent prediction for 2006. But the OECD says the risk is that inflationary pressures catch the market off guard as the U.S. output gap closes, productivity decelerates, unit labor prices tick up and import prices for crude oil and other commodities accelerate.
Brazil losing fight to save the Amazon
Brazil - In the heart of what is known in Brazil\'s Amazon as the \"arc of deforestation\" it is clear that the fight to save the jungle is being lost. During a tour by plane of the area, a reporter could see vast tracts of cleared land with grazing cattle or cultivated fields that have been gouged out of the forest. The government decided to make a stand in this half-moon shaped area stretching along the southern and eastern edges of the Amazon in 2004. A year later environmentalists and government officials have little to show for the effort. On Wednesday the government said that deforestation jumped to its second highest level on record in 2003-2004, to 10,088 square miles -- an area nearly the size of Belgium and slightly bigger than the U.S. state of New Hampshire
IPI World Congress
Nairobi-The International Press Institute (IPI) world congress and 54th annual assembly was held in Nairobi Kenya from 22nd to 24th May 2005. It brought together media executives, editors and leading journalists from all over the world. Present were Kenya’s President Mwai Kibaki, Rwanda’s President Paul Kagame, His Highness Lord Aga Khan, IPI Chairman Wilfred Kiboro, Chief Executive Nation Media group and Institutes Director, Mr. Johann Fritz. The meeting discussed a wide range of issues on journalism and the role of media in shaping global opinion. President Kibaki said that freedom of the press should be exercised with responsibility and it was only through observing these standards that journalism would maintain its credibility. The Aga Khan emphasized on the need for journalism to acquire deeper and broader knowledge of new and complex issues that confront Africa. He asked media managers to give priority to training of African journalists.