The World Bank is anticipating a slowdown in the international economy after a period of recovery in 2010 following the recession.
Justin Len, an economist at the World Bank, said that a slowdown is expected after several countries implemented general incentives and measures to increase demand in 2010, in an attempt to pull their countries out of the 2008-2009 recession. Len told journalists at World Bank headquarters in Washington that the world economy has entered a new phase of recovery.
“We went beyond the revival stage and moved on to a more mature phase of growth,” he said.
The international economy will grow by an average of 3.3 percent this year and 3.6 percent next year, in comparison to 3.7 percent last year, according to World Bank estimates.
Rising economic forces and developing countries are leading the recovery and have reverted to the growth rates seen before the 2008 financial crisis. Len expected that developing countries will grow at a rate of about 6 percent this year and next, compared to 7 percent growth last year.
Len warned, however, of the consequences of the debts incurred by the EU and the rise in food prices and excessive investment. If left unaddressed, these problems could inhibit growth in less developed nations.
China’s economy grew by 10 percent last year while the greater Asia Pacific region grew 9.3 percent, surpassing all other regions in economic performance. This rate is expected to slow 8 percent this year.
Despite weathering the recession, wealthier countries are still not growing fast enough to bring down high unemployment rates. Advanced economies will grow at a rate of 2.4 percent in comparison to 2.8 percent last year, according to the World Bank.
President Goodluck Jonathan has won the endorsement of Nigeria's ruling party (AP)
President Goodluck Jonathan, who took on his nation's top job only after the death of the country's elected leader, has won the endorsement of oil-rich Nigeria's ruling party.
The victory makes him the overwhelming favourite to win in the April presidential election.
Mr Jonathan cast himself as the leader able to change a nation both blessed by natural resources but cursed by years of military dictatorships.
However, the regional and religious tensions that flared up during the primary persist across a country troubled by violence and extremism more than 40 years after the end of its brutal civil war.
As the candidate of the People's Democratic Party, Mr Jonathan can expect the party to use its political connections, money and muscle to propel him to victory in Nigeria's unruly and corrupt electoral system. Since the handover in 1999 from military rule to a civilian government, politics in Africa's most populous nation have been dominated by the party.
"We have a chance to transform ourselves to be a great nation in the years ahead," Mr Jonathan told delegates gathered for the convention in Nigeria's capital, Abuja.
He offered a promise that won a cheer from the crowd: "Goodluck Ebele Jonathan and (vice president) Nnmadi Sambo will never, never, never let you down."
The president, dressed in the traditional black caftan and bowler hat of his Niger Delta home, focused on issues his young administration hopes to improve over the next four years.
Top among them is a plan to privatise the nation's decrepit state-run power company. As of now, only those who can afford private generators have reliable electricity.
His main challenger, former vice president Atiku Abubakar, hammered the president in a speech over rising debit and growing insecurity in a country divided between a predominantly Christian south and a Muslim north.
Suspect Avinash Treebhoowoon (29) is brought to Mapou Court, Port Louis Mauritius, Wednesday, Jan.12, 2011. The room attendant has been charged with the murder of Michaela McAreavey.
Relatives of the murdered Irish honeymooner Michaela McAreavey have said the support they have received is helping them through their "darkest of days".
They also confirmed plans for her funeral on Monday, after the body of the 27-year-old teacher completes the tragic journey home to Co Tyrone, following her brutal murder in Mauritius.
Tributes have been paid from across Ireland, and internationally, to the daughter of renowned Co Tyrone GAA (Gaelic Athletic Association) manager Mickey Harte, after she was killed within days of marrying her sweetheart John McAreavey.
The Harte and McAreavey families issued a joint statement thanking friends, relatives and the public for support, and detailing funeral arrangements at the small Roman Catholic church where she only recently celebrated her wedding.
The families said: "We are all grateful for the prayers and support we have received from all parts of Ireland, the UK and across the world. This support has helped sustain us physically, emotionally and spiritually through these darkest of days.
"The distance from Mauritius has only increased our sense of isolation and separation from our beloved Michaela and her husband John. Now as two heartbroken and devastated families, together we can share our grief and our love for Michaela and provide support and comfort to John.
"As Michaela returns home we respectfully ask for full privacy to allow our two families, united in sorrow, to have the space and time to spend with a much loved wife, daughter and sister. Therefore the wake and private family service on the evening of Friday January 14 will be for immediate family only."
The two bereaved families said Thursday marked the "the final stage of Michaela's journey home" and that she was accompanied by her widower John, brother Mark, her father-in-law Brendan and brother-in-law Brian.
The grieving party will fly into Belfast, after which the families said Mrs McAreavey's body will be brought directly to a nearby funeral parlour for a private removal service.
Later she will be brought back to the Harte home at Glencull Road, Ballygawley for a private family service.
Brother Dallas Green wipes away a tear while seated next to his father John Green and mother Roxanna Green during the funeral service for their daughter nine-year-old Christina Taylor Green at St. Elizabeth Ann Seton church on January 13, 2011 in Tucson, Arizona.
Christina Taylor Green, the youngest victim of the Tucson massacre, was remembered at her funeral for her love of baseball, animals and swimming with her brother.
The congresswoman, believed to be the target of an assassination attempt, continued to make remarkable progress, doctors said.
Christina's funeral is the first for the six victims killed when a gunman opened fire on a crowd at an event for Representative Gabrielle Giffords, injuring the congresswoman, wounding 13 others and shocking the country.
The nine-year-old girl was born on September 11, 2001, and featured in a book called Faces of Hope that chronicled one baby from each state born on the day terrorists killed nearly 3,000 people.
As the funeral began, Christina's family held hands and paused in a moment of silence under the large American flag recovered from Ground Zero after the 9/11 attacks, then escorted the small brown casket into the church as little girls about her age cried.
Several hundred other mourners, many in white T-shirts, lined a road near the church to show support.
Those in attendance said Christina's father talked about the places the family had lived in and travelled to, and that he would always cherish coming home after long business trips.
Meanwhile, doctors said Ms Giffords continued making strong progress toward recovery.
Ms Giffords, 40, is moving both legs and both arms, has opened both eyes and is responding to friends and family, doctors said.
They have helped her sit up and dangle her legs from the bed, and she is able to lift her legs on command.
With her closest friends from Congress holding her hand on Wednesday evening, Ms Giffords opened her left eye and tried to focus on loved ones for the first time.
"It was raw courage. It was raw strength. It was so beautiful and so moving," Senator Kirsten Gillibrand of New York said of the Arizona legislator.
"She wanted us to know that she was with us 100% and understood everything we were saying."
Ms Giffords' neurosurgeon, Dr Michael Lemole, called it "a major milestone", and said the congresswoman was clearly responding to the gathering of friends and family.
After five days of pushing for caution, Dr Lemole acknowledged: "We're wise to acknowledge miracles."
The updated medical reports came a day after President Barack Obama travelled to Tucson and appealed for unity at a memorial service for those attacked in the Arizona shooting rampage, and he implored a divided America to honour them by becoming a better country.
The father of a child who almost drowned in a park pond while on an outing from a creche has criticised police for their handling of the case.
Sean Ross McGowan was found by a passing doctor in the pond after he had got out of his buggy and wandered away unnoticed from his group on August 21, 2007. He was 21 months old at the time.
Sean, now five, suffered massive brain damage as a result; he has cerebral palsy and was left blind, the court heard.
He suffers seizures and infections, is frequently admitted to hospital and needs 24-hour care.
Yesterday, he secured €650,000 in a High Court settlement. His father, John McGowan, told the court he was not satisfied that gardai investigated the case properly.
And, outside the court, Mr McGowan criticised the HSE for not offering an apology.
The accident happened while Sean was in the care of Miss Carr's Child Care Centre in Ranelagh, Dublin, which is part of an assisted housing association premises for lone parents.
The child -- suing through his mother, Rose Houlihan, of Camden Street, Dublin -- brought the action against Miss Carr's Home Housing Association Ltd and the HSE, claiming negligence and breach of duty.
Liability was admitted and the case was before Mr Justice Sean Ryan for assessment only. The judge agreed with the parents that an earlier settlement offer of €550,000 was insufficient.
Following talks, Mr Justice Ryan was told the matter had been settled for €650,000 plus costs. Earlier, counsel for the family Jack Fitzgerald told the court that at the time of the accident Ms Houlihan was living at the child-care centre.
Sean was left in the care of the creche minders and was taken on a group outing to Ranelagh Park.
In "extraordinary sad circumstances", the toddler was allowed to get out of his buggy, Mr Fitzgerald said.
He "vanished" for some minutes and the next thing he was discovered in the pond by a passing doctor who rescued him when almost on the point of drowning, the court heard.
The toddler was eventually resuscitated but suffered massive and permanent brain damage. Sean's injuries were severe and he has a very limited life expectancy.
He is under HSE care in the Sunshine Children's Home in Leopardstown, Dublin.
Mr Fitzgerald said the child's mother agreed that the Sunshine Home was the best place for him.
His parents, who are in their 20s, love him deeply and they hoped to be able to take him out for a few hours twice a week.
His mother believes he can vocalise, responds well to being cuddled and finds music soothing, Mr Fitzgerald added.
Ms Houlihan told the court she had disagreements with the doctors over whether Sean should be ventilated if he stops breathing in certain circumstances.
She wanted ventilation to be carried out as she wanted her son's life preserved.
A separate action taken by Ms Houlihan against Carr's Child Care Centre and the HSE for damages for post-traumatic stress, depressive disorder and nervous shock over the matter was also settled yesterday.
No details of this settlement were disclosed in court.
John McAreavey, husband of Michaela Harte leaving the mortuary at Victoria Hospital in Mauritius yesterday wearing her wedding ring and engagement ring around his neck
Two rings, one promise. The promise was to have and to hold, till death do they part.
But death came too quickly for Michaela Harte McAreavey, who was murdered while on honeymoon on the Indian Ocean island of Mauritius.
Yesterday her grief-stricken husband John McAreavey travelled to the morgue in the town of Quatres Bornes to say goodbye and bring her home.
Outside the morgue he kept his head bowed, her two rings on a delicate gold chain visible around his neck.
Mr McAreavey was accompanied to the morgue by his father, his brother Brian, Michaela's brother Mark, Sinn Fein MLA Barry McElduff, and Consul for the Irish Embassy, Pat McRann.
A short Mass was said for the 27 year old and her body was then brought to the airport so that it could be brought home to Ireland last night.
Police in Mauritius confirmed that two of the accused had confessed to their parts in the horrific crime.
Abinash Treeboowoon (29) and Raj Theekoy (33) gave statements to the investigating officers yesterday afternoon and gave details of what had happened on Monday during the botched robbery.
Mr Treeboowoon was charged with Michaela's murder earlier this week while Mr Theekoy was charged with conspiracy to murder.
After the court appearance on Wednesday Mr Theekoy told police that he had heard Michaela scream and had seen two men leave the room, one of whom was sweating.
After giving the police the details they confronted Mr Treebhoowoon, who confessed to his part in killing the newlywed. As a result, yesterday evening the two men were brought to Legends Hotel, the scene of the crime, to take part in a reconstruction.
An independent witness -- who is not a suspect -- was also present.
He corroborated what he had seen of the two men that day.
They were at the seaside resort with a large number of police officers while at the same time John McAreavey was making final preparations to leave the hotel for the airport and bring his wife's body home.
Michaela's remains had been in the morgue since her death, and shortly before 11am yesterday Manique's undertaker arrived with a simple wooden coffin.
It was carried into the morgue where a short Mass was held when John arrived with family members.
They left shortly before midday and returned to Legends Hotel.
Covered in a pink sleeve, her coffin was removed from the morgue at Victoria Hospital (also known as Princess Margaret Hospital) at 12.05pm and was brought to Sir Seewoosagar Ramgoolam airport where paperwork was completed in order to send her body home.
It is understood that the family will bring her home today via London Heathrow on flight number MK230, which departed Mauritius at 10pm local time last night. (6pm Irish time).
Police have said that although they have not yet obtained a confession from the third suspect -- Sandip Moneea (41) -- they are satisfied that they have enough evidence to convict him.
Ranjit Jokoo, investigating officer with the Major Criminal Investigation Team (MCIT), said they have not yet interrogated him properly.
"It's not an issue to us whether he confesses or not," he added.
He said that circumstantial evidence carries great weight in the Mauritian courts, and they are confident they will secure a conviction against the three men.
Speaking at an earlier press conference Police Commissioner Dhun Ishwar Ramparsad said that both Treeboowoon and Moneea were the two people who were in possession of the electronic keys.
He also gave details of how Mr Moneea had strangled Michaela and the duo put her body in the bath afterwards.
They had turned on the water and she was found there by her husband.
Mr Moneea's wife also spoke of her belief that her husband is innocent. The couple had been married just 37 days when he allegedly killed Michaela.
She said that she believes that the police have the "wrong person" and that her husband showed no signs of distress when he returned home from work on Monday.
The three men are due back in court next Wednesday for a procedural hearing while a bail application will be made in early February.
Ravi Rutnah, barrister for Mr Treebhoowoon, said that his client had apologised to the McAreavey and Harte families in his formal statement.
He expects the case to take around 18 months to come to court. If convicted of murder, the men will be given life sentences.
Labour's Debbie Abrahams thanked voters and said she would 'keep her promises'
Labour have comfortably won the Oldham East and Saddleworth by-election with a majority of more than 3,500.
Debbie Abrahams held off the challenge of Lib Dem Elwyn Watkins, while the Conservatives' vote fell by more than 7,000 as they came a distant third.
Labour leader Ed Miliband said it sent a "clear message" to ministers about rising VAT, tuition fees and cuts.
Nick Clegg said he was pleased with the Lib Dem performance - their share of the vote was up 0.3% on May's result.
Vote share
The by-election was called after a special court found ex-Labour minister Phil Woolas had lied about Mr Watkins in May's general election and invalidated the result.
Eight months ago, Labour won the seat by just 103 votes from the Lib Dems but, this time, it secured a much clearer victory - finishing 3,558 votes ahead of their closest rivals with 14,718 votes. The party's share of the vote increased from 31.9% to 42%.
Although the Lib Dems failed to snatch the seat, their share of the vote actually increased slightly, from 31.6% at the general election to 31.9%.
They polled 11,160 votes, with the Conservatives getting 4,481 (12.8% share), UKIP 2,029 (5.8%) and the BNP 1,560 (4.5%).
However, the Tories' share of the vote fell from 26.4% in May.
BBC political editor Nick Robinson said Labour and the Lib Dems would be relieved by the result - but it would worry some Conservatives.
The Tory leadership would be pleased their coalition partners had avoided disaster but Tory activists would be anxious about Mr Cameron's apparent willingness to help the Lib Dems and the possible collapse of working class Tory support in northern seats.
'Good heart'
The by-election is the first significant opportunity that voters have had to pass judgement on the policies of the coalition government and Ed Miliband's performance as opposition leader.
Senior Labour figures hailed the result as proof of public "anger".
Party leader Ed Miliband said: "I think the voters of Oldham east and Saddleworth have sent a very clear message to the government about some of the things they've been doing, the rise in VAT, the trebling of tuition fees and the police cuts...
"This is the first step in a long journey for Labour. But more importantly, I hope the government will listen to what they've said about those key issues."
Nick Clegg: "It's a challenging time for the Liberal Democrats."
Ms Abrahams told Labour activists that the result sent a clear message to David Cameron that "you have to listen, think again and change direction".
But the Conservatives and Lib Dems argued that Labour had held the seat since it was created in 1997.
Lib Dem deputy leader Simon Hughes told the BBC his party was in "good heart".
"We pushed up our share of the vote and actually we had the same share of the vote yesterday as Labour won with at the general election just a few months ago."
Party leader Nick Clegg, who visited the constituency three times to throw his weight behind the party's candidate Elwyn Watkins, said the party had "brought the fight to Labour's front door in a way that will have confounded our critics".
Mr Watkins, whose court battle against Phil Woolas triggered the contest, said he had no regrets: "I think it was the right decision to take and I am proud of what I did."
Turnout in the contest was considerably lower than in the general election, with 48% of registered voters casting their ballots compared with 61% in May.
Conservative Party co-chairman Baroness Warsi said it was "inevitable" that the party which started in third place would see their vote "squeezed" in a by-election.
She denied the Conservatives had deliberately fought a lacklustre campaign to benefit their coalition partners. She told the BBC: "It was resourced properly. We had volunteers on the ground. We had professionals on the ground. We had a great local candidate."
She said the Tories had run a "positive campaign" and while they had not attacked the Lib Dems, they had "never campaigned for them either".
Asked about criticism from the Tory right wing about the campaign, she added: "I would say to those who are critical: 'Unless you were here, unless you were out delivering and unless you were knocking on doors, you really don't have a right to complain about us not being vigorous enough'."
May's result was declared void by three judges and Mr Woolas barred from standing for public office for three years, triggering the first by-election since the coalition government took office.
All the main party leaders visited the constituency during the campaign, the first by-election to take place in January for more than 40 years.
Ten candidates, in total, stood in the contest. UKIP came fourth with 2,029 votes, ahead of the BNP and the Green Party.
