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No sustained upside is seen in oil and commodity prices in 2016.The path ahead for the global economy remains challenging, with greater uncertainties thrown in.
I would also like to talk about two major developments at your Company. Furthermore, a barrage of monetary stimulus has driven down interest rates close to zero in many of the advanced economies. Integrity, Commitment, Passion, Seamlessness and Speed The Chairman’s Letter to Shareholders Aditya Birla Nuvo Limited Annual Report 2015-16 The Chairman’s Letter to Shareholders Dear Shareholder, GLOBAL ECONOMY The global scenario continues to be trapped in a low growth trajectory, despite the steep drop in crude oil and commodity prices.Growth in the emerging markets in 2016, overall, is projected at 4.1%, much of it coming from China, India and the ASEAN region.Growth in Latin America is expected to be only 0.5%, on account of a 3.8% decline in growth in Brazil.Towards front, in areas related to ease of doing business, this your Company has entered into a Joint promoting start-ups, rationalising the tax structure Venture with the Abraaj Group (Dubai) for Solar ii The Chairman’s Letter to Shareholders Power, Idea Cellular for Payments Bank and MMI Holdings (South Africa) for Health Insurance.
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The IMF projects global growth to inch up from 3.1% in 2015, to 3.2% in 2016, and increasing to 3.5% in 2017.
Growth in the advanced economies is projected at 1.9% in 2016, with US growth pegged at 2.4%, Europe at 1.5% and Japan at 0.5%.
i Aditya Birla Nuvo Limited Annual Report 2015-16 Company Overview including the rich Middle East countries.
Financial markets remain nervous and exchange rate volatility has been pronounced.
Much more also needs to be done to V]LY V]LY ; OL [YHKL KLÄJP[ PU “monsoon-proof” the Indian economy.