Tag: poverty

Rising cost of living hits families hard

Rising cost of living hits families hard

A new study suggests that a family with two children now needs to earn £36,800 a year in order to achieve a “socially acceptable” standard of living. A quarter of the UK population now live below the minimum income standard (MIS), an increase of three million since 2008. The MIS study, which was commissioned by [...]

July 10, 2012 | 0 Comments More
Retirement income lowest for five years

Retirement income lowest for five years

The gap between the value of pensions received by men and women has narrowed, according to a survey by the Prudential. While this looks like good news on the surface, women are only catching up with men because the average male annual pension has fallen in value, rather than because women’s retirement income has increased. [...]

June 8, 2012 | 0 Comments More
Indian inflation eases in September

Indian inflation eases in September

Figures today revealed India’s wholesale price inflation eased to annual rate of 9.72% last month, down from August’s rate of 9.78%. However, the rate is still significantly above the central bank’s target of between 4% and 5% and represented the tenth consecutive month that inflation has been above the 9% mark. Stubbornly high inflation has [...]

October 14, 2011 More
Indian economic growth slows in Q2

Indian economic growth slows in Q2

According to the finance ministry, India’s economy expanded by 7.7% in the April to June period – much slower than the 8.8% growth in the same period a year earlier. It was the weakest growth in six quarters and was attributed to a slowdown in construction activity. Construction saw an increase of just 1.2% during [...]

August 30, 2011 | 0 Comments More
Food prices soaring to dangerous levels

Food prices soaring to dangerous levels

According to the World Bank, soaring food prices have pushed more than 40 million people into poverty in the last year. Worryingly, a further 10% increase in food prices would push 10 million below the extreme poverty line - defined as an income of less than $1.25 a day. Robert Zoellick, World Bank president, was [...]

April 14, 2011 | 0 Comments More
Indian economy to surge ahead but inflation a “threat”

Indian economy to surge ahead but inflation a “threat”

The Indian economy is projected to expand 8.6% in the current fiscal year, according to Government estimates. The Indian economy, which is the world’s second fastest-growing major economy behind China, grew by a staggering 8.9% on an annual basis in the July to September period. However, the economy faces headwinds – the country’s inflation rate [...]

February 7, 2011 | 0 Comments More
India optimistic for double-digit growth

India optimistic for double-digit growth

India’s Finance Minister, Pranab Mukherjee, has expressed his optimism for the economy’s return to growth. According to the FM, the economy should experience growth of 9% but should make it past the double digit barrier in the next two years. He added that the economy was “on a path to rapid recovery” after the latest [...]

November 14, 2010 | 0 Comments More
Citizens Advice: Welfare reforms must tackle poverty

Citizens Advice: Welfare reforms must tackle poverty

Government plans to review the welfare system with a view to simplifying benefits have been given a guarded welcome by the Citizens Advice Bureau (CAB). The CAB said simplifying the system will help more people claim the benefits they are entitled to. However, it warned that the reforms must continue to provide support for the [...]

August 4, 2010 | 0 Comments More
Anti-poverty banker to star in The Simpsons

Anti-poverty banker to star in The Simpsons

The Bangladeshi anti-poverty banker Muhammad Yunus is to feature in an episode of hit TV cartoon The Simpsons. Yunus, whose pioneering work on micro-finance earned him the Nobel Peace Prize in 2006, will appear in the TV show as a cartoon version of himself. The episode will focus on his micro-credit work in Bangladesh, which [...]

July 27, 2010 | 0 Comments More
SKS Microfinance announces IPO

SKS Microfinance announces IPO

India’s first microfinance institution (MFI) to issue public shares has announced its initial public offering (IPO) will open on 28 July. SKS Microfinance will announce the issue price on 26 July and is considering offering a discount to retail investors. The company plans raise Rs. 1,500cr ($320 million) from the IPO with the shares sold [...]

July 20, 2010 | 0 Comments More
Nobel laureate warns against microfinance loan sharks

Nobel laureate warns against microfinance loan sharks

Investors looking to profit from microfinance are no better than loan sharks, a pioneer of the industry has claimed. Nobel laureate Muhammad Yunus said he is concerned that investment funds are viewing microfinance as a way to make a profit. “Poor people should not be presented as an opportunity to make money,” said the Bangladeshi [...]

June 4, 2010 | 0 Comments More
Microfinance: robbing the poor to feed the rich?

Microfinance: robbing the poor to feed the rich?

India-based SKS Microfinance has announced an initial public offering (IPO) which is expected to raise $250-$350 million in shareholder investments. The IPO is the first by an Indian microfinance company, and has sparked a debate around the ethics of profiting from the poor. Some argue that the IPO is necessary after microfinance firms (MFIs) reach [...]

April 9, 2010 | 0 Comments More
Sustainable banks pledge to serve the poor

Sustainable banks pledge to serve the poor

Eleven industry leading sustainable banks have pledged to deliver banking services to the world’s poorest people. The banks made the promise at the second summit of the Global Alliance for Banking on Values (GABV) in Dhaka, capital of Bangladesh, earlier this month. “Fighting poverty will remain the first priority for the banking sector in the [...]

March 8, 2010 | 0 Comments More
ONS reveals fall in pensioner poverty

ONS reveals fall in pensioner poverty

The Office for National Statistics (ONS) has today revealed that the number of pensioners living in poverty has shrank by almost a third to two million in 2007/08 from 2.9 million in 1998/99. Poverty is officially defined as living on 60% of the average income - once housing costs have been paid. The ONS also [...]

January 27, 2010 | 0 Comments More
Microfinance loans to help needy in Bahrain

Microfinance loans to help needy in Bahrain

A new microfinance bank in Bahrain is set to help thousands of needy families. The Family Bank, a joint initiative between Bahrain’s Social Development Ministry and the Grameen Bank, will offer loans of between 150 and 7,000 Bahrain Dinars (between £250 and £11,500). “The idea is to make needy and creative Bahraini families self dependent [...]

January 15, 2010 | 0 Comments More
Micro-finance funds Africa’s first eco-town

Micro-finance funds Africa’s first eco-town

September 15, 2009 | 0 Comments More
Failure of ‘bogged down’ pensions system

Failure of ‘bogged down’ pensions system

Pensioners are missing out on up to £5.4 billion per year in benefits they are entitled to, Age Concern said this week. The over-50s charity said thousands of pensioners are refusing to claim benefits because they are too proud to do so. Many pensioners would feel like they were taking handouts if they accepted benefits [...]

June 29, 2009 | 0 Comments More
Average debt needs 93 years to repay

Average debt needs 93 years to repay

The average person seeking debt advice from the Citizens Advice Bureau (CAB) is nearly £17,000 in the red and would need 93 years to pay back the money at an affordable rate. This is compared to an average debt of £10,600 in 2001, and CAB expects the situation to deteriorate further in the year ahead. [...]

February 27, 2009 | 0 Comments More
Pensioners slipping below the poverty line

Pensioners slipping below the poverty line

Figures from the Office for National Statistics (ONS) have established that half of all single pensioners receive an annual income of under £6,000. The ONS figures, which cover 2005/06, also revealed that 62% of pensioner couples had a total pension income of less than £10,000. The research is highlighting the need for a private pension [...]

April 16, 2008 | 0 Comments More