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MANILA, PHILIPPINES - The Asian Development Bank (ADB) is providing loans of up to $350 million for transmission system upgrades to help the Indian state of Himachal Pradesh take greater advantage of its vast hydropower resources.

KOLKATA: Chief Minister Mamata Banerjee’s reluctance to take hard decisions and her determination to stick to a populist path may well lead to a major financial crisis in West Bengal shortly.

The world may yet to see capitalism’s worst hour of crisis, but with its epicenter, the USA, continuously producing one after another aftershock since the 2008 sub-prime catastrophe followed by a series of bank collapse, it may be a matter of time before other major economies and non-oil- exporting countries face a severe jolt.

New Delhi: The Indian Defence Minister AK Antony today asked senior defence finance officials of his Ministry to consider the satisfaction level of ex-servicemen (ESM) pensioners as the benchmark of their performance.

New Delhi: India-Russia defence cooperation is slated to take off to a new trajectory in the days to come.

New Delhi: The pride of India’s strategic arsenal, Agni II was once again launched successfully this morning at 9:30 hrs from the Wheeler Island off the coast of Orissa. The launch was a hattrick after successful launches of Shourya and Prithivi-II, on September, 24 and 26 respectively. The successful launch once again proved reliability of the Medium Range Surface-to-Surface Missile, according to the sources in the Defence Ministry.

New York: UN Secretary-General Ban Ki-moon today welcomed the recently announced measures by Saudi Arabian King Abdullah granting women the right to vote and stand in municipal elections as well as to become members of the Shura Council.

New Delhi: The leaders of both Pakistan and India today were upbeat in transforming the South Asia region into a vibrant economic bloc and suggested developing relations with other blocs in the global economic geo-politics.

New York: Warning that the solution to narcotics trafficking must be global in scale, the chief United Nations anti-crime official today began a two-day official visit to Mexico, where tens of thousands of people have been murdered and mutilated in drug wars over the past five years.

The Executive Board of the International Monetary Fund (IMF) today completed the second review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The authorities have indicated that they will continue treating the arrangement as precautionary and therefore do not intend to draw under it.