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ADB President Reaffirms Support for Bhutan

Special Correspondent - 2010-07-31 10:41
MANILA, PHILIPPINES - The Asian Development Bank (ADB) remains a committed development partner of the Government of Bhutan, President Haruhiko Kuroda said at the conclusion of a 3-day visit to the country.

Turkey's main challenge is to contain external imbalances

Special Correspondent - 2010-07-31 10:36
Executive Directors of the International Monetary Fund (IMF) have commended the Turkish authorities for their far-reaching reforms and prudent policy stance that limited vulnerabilities prior to the crisis, paved the way for an effective crisis response, and contributed to the robust economic recovery now underway. Directors considered that Turkey's main challenge is to contain external imbalances that could undermine the recovery. In particular, they noted that an excessive reliance on imports would deteriorate the external position, making growth dependent on potentially unstable external financing, given the uncertain global outlook.

TERRORISM AND ORGANIZED CRIME INCREASINGLY LINKED IN AFRICA

Special Correspondent - 2010-07-31 10:33
New York: Terrorism in Africa is increasingly linked to organized crime, and the continent's governments must take stronger steps to try to break those connections, a senior United Nations official said as he called for countries worldwide to broaden their anti-terrorist strategies beyond involving only the military and law enforcement agencies.

EVERGLADES RETURNS TO UNESCO LIST OF GLOBAL HERITAGE SITES IN DANGER

Special Correspondent - 2010-07-31 10:27
New York: The Everglades National Park in the United States is back on the List of World Heritage in Danger because of the “serious and continuing degradation of its aquatic ecosystem,” the United Nations Educational, Scientific and Cultural Organization (UNESCO) has announced.

UN DECLARATION 'CLEAN WATER AND SANITATION IS A HUMAN RIGHT' WELCOMED

Special Correspondent - 2010-07-31 10:23
New York: A United Nations expert has welcomed the General Assembly's declaration this week that safe and clean drinking water is a human right, calling it a “landmark resolution” that sends an important signal to the world.

IRON ORE PRODUCTION ON THE DECLINE BUT TRADE STILL RISING

Special Correspondent - 2010-07-31 10:19
New York: Iron ore production fell last year for the first time in seven years but continuing demand for the raw material from the Chinese steel industry ensured that the volume of trade increased again, a United Nations report says.

HORN OF AFRICA ONCE AGAIN POLIO-FREE

Special Correspondent - 2010-07-31 10:15
New York: The Horn of Africa is once again free of polio, with Sudan, Ethiopia, Kenya and Uganda having reported no wild poliovirus cases for more than a year, the United Nations Children's Fund (UNICEF) and its partners have announced.

Spain: Growth outlook remains uncertain

Special Correspondent - 2010-07-31 10:11
Executive Directors of the International Monetary Fund (IMF) have noted that the necessary adjustment of the economy is underway as imbalances accumulated during the long boom years have begun to unwind, and that output has stabilized. The growth outlook, however, remains uncertain owing to unstable financial market conditions and weak domestic demand.

GLOBAL CLUSTER MUNITIONS PACT COMES INTO FORCE

Special Correspondent - 2010-07-31 10:06
New York: UN Secretary-General Ban Ki-moon has expressed his delight at entry into force of the international convention banning the manufacture, use and stockpiling of cluster munitions from today, calling it a “major advance for the global disarmament and humanitarian agendas.”

Gradual economic recovery expected in France

Special Correspondent - 2010-07-31 09:59
Executive Directors of the International Monetary Fund (IMF) have noted that the French economy weathered the global crisis better than most of its peers. The timely government intervention succeeded in stabilizing the financial system and cushioning the downturn. Directors noted that the outlook is challenging and that growth is expected to pick up only gradually. Unemployment and public debt are relatively high; the imminent fiscal consolidation in France and most European countries will weigh on demand; and lingering concerns about sovereign risks call for continued vigilance. A vigorous implementation of the authorities' reform agenda will be needed to support the recovery.