World MAP illustrating percentages of total budgets allocated for Military, Healthcare and Education.
Month: November 2009
IBRD and IDA: Two Institutions That Comprise the World Bank
The IBRD is an international organization whose original mission was to finance the reconstruction of nations devastated by World War II. Now, its mission has expanded to fight poverty by means of financing states. IDA is responsible for providing long-term, interest-free loans to the worlds 80 poorest countries, 39 of which are in Africa.
Total IBRD-IDA Lending by Sector
During the 2008 fiscal year, 6 percent went to agriculture, fishing and forestry,
8 percent went to education and 17 percent went to energy and mining.
Another 6 percent went to finance, 7 percent went to health and other social services, 6 percent went to industry and trade and 1 percent went to information and communication. Another 21 percent went to law and justice and public administration, 9 percent went to transportation and 10 percent went to water, sanitation and flood protection.
Nuclear power is back in favour, at least in government circles. Today,energy and climate change secretary Ed Miliband will expand upon the UK’s plans for a fleet of new nuclear reactors. Elsewhere, Sweden hasreversed its decades-old ban on nuclear power and an increasing number of countries are expanding their nuclear generating capacity.
Four new reactors are under way in Europe at the moment: two Russian-designed reactors in Slovakia, plus Finland’s Olkiluoto 3 and France’s Flamanville 3, which both rely on the French state-owned Areva’s involvement and expertise. The Finnish site has been beset by delays, rising costs and criticisms over safety and still has no definite opening date, while the cost of Flamanville 3 has risen from €3.3bn to €4bn.
As more consumers have opted to purchase their music online over the last few years, the market share of digital music retailers has increased rapidly. With iTunes leading the charge, digital retailers now account for over 35% of all music sales. The introduction of variable pricing by iTunes in April of this year brought on a dramatic increase in the number of monthly transactions per user, helping them to pass Wal-Mart as the leading music retailer. It is also important to note the other digital retailers implementing different sales models that are increasing total user spending and beginning to stake claim to a significant share of the market.