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World Bank delivers $53 bn to developing countries

Wednesday, 24 July 2013 08:57
Washington: The World Bank said it has committed $52.6 billion in loans, grants, equity investments and guarantees to support developing countries in the fiscal year 2013 which ended June 30.Despite a difficult global economic environment, the commitments for the International…

Bangladesh lifts agro-credit target to $1.87 bn

Tuesday, 23 July 2013 19:32
Dhaka: The central bank of Bangladesh has lifted its farm credit disbursement target by 3.29 percent to 145.95 billion taka ($1.87 billion) for the current fiscal year 2013-14 to encourage sharecroppers to augment domestic food production.Bangladesh Bank Governor Atiur Rahman…

Global Bank Group to sponsor Antigua Hawksbills

Tuesday, 23 July 2013 13:59
St.John's (Antigua): Global Bank of Commerce and its affiliate, Global Processing Centre, have signed on as founding sponsor of the Antigua Hawksbills team which will be competing in the inaugural Caribbean Premier League (CPL) T20 competition.Global Bank of Commerce says…

YPF to build new coke plant in Argentina

Tuesday, 23 July 2013 12:41
Buenos Aire: YPF, the oil company controlled by the Argentine state following the expropriation of a 51 percent stake from Spain's Repsol, said it planned to break ground soon on a new coke plant in the city of La Plata.The…

South Korea's terms of trade improve

Tuesday, 23 July 2013 12:36
Seoul: South Korea's terms of trade improved last month as import costs fell at a steeper pace than export prices amid lower commodity prices, central bank data showed Tuesday.The net terms-of-trade index for goods, a gauge of trade terms, rose…

Brazil GDP growth forecast dips

Tuesday, 23 July 2013 12:33
Brasilia: For the 10th consecutive week, Brazil's financial market downgraded its gross domestic product (GDP) growth forecast for 2013 from 2.31 percent to 2.28 percent, the Central Bank of Brazil said. According to the bank's Focus poll, a survey of…

L&T Q1 net falls more than 12 percent

Monday, 22 July 2013 16:50
Mumbai: Enginnering giant Larsen & Toubro (L&T) Monday reported a 12.5 percent year-on-year fall in net profit at Rs.756 crore for the first quarter ended June 30, on account of job mix, lower margin accruals and lower other income.The company…

Bangladesh sets $30.5 bln export target for 2013-14

Sunday, 21 July 2013 19:33
Dhaka: After achieving double-digit export growth in the last fiscal (2012-13), the Bangladesh government has surged its export target by over 11 percent to $30.05 billion for the current fiscal (2013-14), an official said Sunday.According to the official from the…

Iran, Iraq to sign gas deal Sunday

Sunday, 21 July 2013 08:17
Tehran: Tehran and Baghdad are set to sign an agreement Sunday under which Iran will supply natural gas to Iraq's Al-Baghdad and Al-Mansouriyah power plants.The agreement would be signed by Iranian Oil Minister Rostam Qasemi and his Iraqi counterpart Abdul…

Brazil's Batista regrets taking his companies public

Saturday, 20 July 2013 16:33
Rio de Janeiro: Brazilian magnate Eike Batista wrote in an article that he regretted taking his companies public without allowing sufficient time to develop them."If I could go back in time, I wouldn't opt for the stock market," Batista, once…