Takehiko Nakao President of Asian Development Bank Asia's premier lending institution gestures during a news conference at the ongoing 51st ADB Annual Governor's Meeting Thursday
Addressing delegates earlier in the day at the opening session of the board of governors meet, ADB president Takehiko Nakao urged member nations to adopt wealth redistribution measures to protect those affected by technology-induced job losses and to protect privacy and personal data while using big data for welfare programmes such as making healthcare available to all.
"With more and more developing members entering the ranks of middle-income countries, ADB should strengthen its cooperation with middle-income countries to help them achieve high quality development while supporting low-income countries, small island countries, and vulnerable countries".
"AIIB, it's not the kind of threat to us", he said.
Yu said ADB needs to "increase financing to support infrastructure interconnectivity" in the region.
The two have so far jointly provided combined loans of more than $700 million for four infrastructure projects, three of them in South Asia. But the possibility disputes might escalate is a concern, since Asia's strong growth is based on open trade and investment.
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BidaskClub lowered shares of Golar LNG from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 6th. Current price level places the company's stock about -18.8% from the 52-week high and 47.5% away from the 52-week low.
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Donald Trump claims London is a 'war zone' due to knife crime
But his comments are likely to strain relations with Britain further ahead of his visit to the United Kingdom in July. In a statement following Mr Trump's comments, he said: "Knife violence is a serious issue for London".
Yu said China will continue to support the development of ADB. "If this continues to escalate, it will have negative impact", Nakao said.
Dominguez, chairman of the ADB board of governors, lauded the 2030 strategy as a "good beginning" as it provides a road map that will let countries adjust to the new balance of power in the global economy. But governments should address that, and it shouldn't come at the expense of free trade, he added.
The draft 2030 strategy being discussed at ADB's annual meeting, which is expected to be adopted later in the year, calls for focusing more resources and effort on poverty reduction and social sector projects.
The Secretary-General of SAARC, H.E. Mr. Amjad Hussain B. Sial, made a statement on "Review of Progress in Transition to South Asian Economic Union" and underlined that the Member States may make honest efforts for implementing the objective of achieving South Asian Economic Union, as envisioned by the Leaders of SAARC.
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