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The “New Alliance to improve food and nutrition security” aims at boosting productivity, domestic and international private sector investments and supporting innovation and technology in Africa. The European Commission welcomed the launch of it since the EU has been an active partner in the preparation.

The "New Alliance" gathers together donors, partner countries and the private sector in a joint effort to lift 50 million people out of poverty in the next ten years.

This Monday and Tuesday (14 and 15 May), withdrawals from Greek banks exceeded 800 million Euros (small depositors), and if this trend continues, the Greek financial system may collapse before Friday, 18  May.

MELBOURNE – With daily headlines focusing on war, terrorism, and the abuses of repressive governments, and religious leaders frequently bemoaning declining standards of public and private behavior, it is easy to get the impression that we are witnessing a moral collapse. But I think that we have grounds to be optimistic about the future.

A report from Latvia’s economy ministry and finance ministry on the macroeconomic situation in the country last week showed Latvia’s exports are likely to grow at a comparatively slower pace this year. Export trends in the first few months this year coupled with growth prospects in the main partner countries of the Baltic nation have indicated that overall growth of Latvian overseas trade is likely to dwindle on year.

In full year 2012, Latvian exports are likely to register a growth of around 10%, according to the report presented to the government.

Chancellor Angela Merkel speaking at the German Bundestag has appeared uncompromising in her position that whatever plan is to be discussed over enhancing Eurozone's growth potential, cannot be financed with borrowed money and more government budget deficits.

NEW YORK – This year’s annual meeting of the International Monetary Fund made clear that Europe and the international community remain rudderless when it comes to economic policy. Financial leaders, from finance ministers to leaders of private financial institutions, reiterated the current mantra: the crisis countries have to get their houses in order, reduce their deficits, bring down their national debts, undertake structural reforms, and promote growth. Confidence, it was repeatedly said, needs to be restored.

In Russia, there is a second New Year recognised – the Old New Year (stariy noviy god), which takes place after the regular New Year more universally observed. On that note, Russians joke that Vladimir Putin is the Old New Russian President. On 7 May, Putin took back the formal reins of power he ceded to Dmitry Medvedev in 2008, when he faced a bar on a third straight term after eight years as president.

Croatian economic institute has revised its previous assessment for 2012 GDP to a negative outlook of -1%. In the last quarter of 2011, Croatian economy recorded year on year drop of GDP of 0.4% and according to the existing indicators, the economy further slowed down in the first quarter of 2012, putting the country into a double-dip recession.

The Croatian economic institute has revised its previous assessment for 2012 GDP to a negative outlook of -1%.

In the last quarter of 2011, the Croatian economy recorded a year on year GDP  drop of 0.4%, and,  according to the existing indicators, the economy further slowed down in the first quarter of 2012, putting the country into a double-dip recession.

At a recent meeting in Ankara, Turkish Deputy Prime Minister Ali Babacan, who is in charge of the Turkish government's economic policies as the head of its Economy Coordination Board (EKK), announced that the government plans to boost hot money inflow to Turkey with a newly announced annulment of a tax on portfolio investments.

May the best customer experience win – that is mantra for the optimistic venture that is eyeing to reap profits from serving Italian routes with luxurious high speed train service challenging the monopolistic service of state-run Trenitalia.

In a recently held demo-run of the first privately owned high-speed train, the plush interiors coupled with modern amenities definitely indicated that Trenitalia is no more alone in the market.

During TNW 2012 over 50 startups presented their platforms, applications and business ideas. On Friday afternoon, the winners of TNW 2012 were announced. Awards were given out in eight different categories.

After the final keynote delivered by Alan Cooper (see below), founder of Cooper.com, the time came to hand out the TNW awards for the most promising startups.