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Poor hit hardest by cuts in crisis-hit Europe

Welfare cuts ordered in the wake of Europe's economic crisis are hitting the poor disproportionately hard, with child poverty rising and people's health at risk, a leading Catholic charity warned on Thursday. A new report by Caritas depicted "an unfair Europe" struggling with "disturbing" poverty levels after studying the impact of the financial crisis in Cyprus, Greece, Ireland, Italy, Portugal, Romania and Spain.

Poor hit hardest by cuts in crisis-hit Europe

Welfare cuts ordered in the wake of Europe's economic crisis are hitting the poor disproportionately hard, with child poverty rising and people's health at risk, a leading Catholic charity warned on Thursday. A new report by Caritas depicted "an unfair Europe" struggling with "disturbing" poverty levels after studying the impact of the financial crisis in Cyprus, Greece, Ireland, Italy, Portugal, Romania and Spain.

Poor hit hardest by cuts in crisis-hit Europe

Welfare cuts ordered in the wake of Europe's economic crisis are hitting the poor disproportionately hard, with child poverty rising and people's health at risk, a leading Catholic charity warned on Thursday. A new report by Caritas depicted "an unfair Europe" struggling with "disturbing" poverty levels after studying the impact of the financial crisis in Cyprus, Greece, Ireland, Italy, Portugal, Romania and Spain.

Jim O'Neill: BRICs, MINTs strong despite emerging market wobbles

By Tim Cocks LAGOS (Reuters) - The large, fast-growing emerging market countries dubbed the BRICs and MINTs are still likely to be the most promising investment destinations over the next decade, despite emerging market turbulence, Jim O'Neill, who coined the terms, said. Former Goldman Sachs economist O'Neill came up with the name BRIC in 2001 to group Brazil, Russia, India and China as countries whose growth will shape the world economy in the coming decades.

As BRICS economies grow up, 10 upstarts emerge

Indonesia, Bangladesh and Ethiopia are among 10 countries set to take over as emerging economies from the powerful BRICS nations as they struggle with growing pains, a French credit body said on Tuesday. "After 10 years of frenetic growth" the big five emerging economies of Brazil, Russia, India, China and South Africa -- the BRICS -- "are slowing down sharply," the French trade credit and insurance group Coface said.

World Bank: China needs new market-based approach to urbanization

BEIJING (Reuters) - China should let market forces play greater role in its drive to boost the urban population to accomplish its goal of ensuring sustained, consumer-led growth, the World Bank said in a report on Tuesday. In the report jointly prepared with China's Development Research Center, a top-level policy think tank, the World Bank said a market-based allocation of resources would lead to sustainable urbanization.

EU offers 2.5-bn-euro aid package for Latin America

The European Union is to offer Latin America 2.5 billion euros ($3.4 billion) in development aid over the next seven years to fund projects ranging from security to education. The EU's Development Commissioner Andris Piebalgs said "this aid package marks a new step in the way we work with Latin America, and sends a very strong signal of our commitment to continuing to support the region's development efforts." The 2014-2020 funding includes assistance for regional programmes and bilateral schemes.

Millions to remain in poverty as Philippines re-sets target

The Philippines will have to downgrade its target to reduce poverty, officials warned Tuesday, a move which would leave an additional four million people virtually destitute in 2016. Socio-economic Planning Secretary Arsenio Balisacan said that although economic growth had remained strong, it had failed to lift as many people out of poverty as expected. The Philippines had originally projected that 16.6 percent of its 100 million people would still be living in poverty by 2016.

S. Korea vows to back developing nations' rural growth

SEOUL, March 14 (Yonhap) -- South Korea pledged Friday to support growth projects in developing nations based on its past experiences as part of efforts to effectively implement its overseas official development aid (ODA). During the 18th meeting of the commission on the international development cooperation, the Seoul government decided to choose up to 10 countries and to launch the so-called "Saemaul Undong ODA" project modeled after South Korea's key development movement decades ago.

War-torn South Sudan facing possible famine: US, EU envoys

South Sudan faces possible famine if warring government and rebel forces do not heed a ceasefire deal they have signed, United States and European Union envoys warned Thursday. "The parties have failed to respect their commitment to the January 23 cessation of hostilities," said US envoy Donald Booth at a meeting of regional leaders in Ethiopia on the conflict in the world's youngest country. "This failure has led to thousands of additional deaths and an ever worsening humanitarian situation, with South Sudan facing a possible famine." str-pjm/cc
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