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New Delhi: The Cabinet Committee on Economic Affairs today approved release of Rs.800 crore as equity induction in the National Aviation Company of India Limited (NACIL). The equity induction would not only ease the cash flow situation of the company but would also preclude borrowings from the markets at a high cost.

New Delhi: A Bilateral Investment Promotion & Protection Agreement (BIPA), between the Republic of India and Republic of Latvia, was signed here today, by Shri Anand Sharma, Union Minister of Commerce and Industry and Mr. Artis Kampars, Latvian Minister of Economics.

New York: The top United Nations peacekeeper is flying to Chad next week after the African country called for the withdrawal of the military component of the UN mission that was set up over two years ago after tensions increased along the border with Sudan's war-torn Darfur region.

An International Monetary Fund (IMF) mission, led by Mr. Mark Lewis, has reached a staff-level agreement with the authorities on a package of policies that aims at completing the third review under the SBA. The staff level agreement is subject to approval by IMF management and the Executive Board. A discussion of the review at the Executive Board is planned for late March. The completion of the third review would enable Armenia to draw SDR 48.49 million (about US$74 million).

The Executive Board of the International Monetary Fund (IMF) today completed the second review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA). The Board decision enables the immediate disbursement of an amount equivalent to SDR 178.4 million (about €200.3 million or US$274.9 million), bringing total disbursements under the SBA to SDR 892.2 million (about €1.00 billion or US$1.37 billion).

According to a new World Bank report Promoting Economic Cooperation in South Asia - South Asia has attracted global attention because it has experienced rapid GDP growth since 1980, averaging nearly 6% per annum. Yet, it faces many challenges. There are two faces of South Asia. The first South Asia is dynamic, growing rapidly, highly urbanized, and is benefiting from global integration. The second South Asia is largely agricultural, land-locked, exhibits high poverty, suffers from many conflicts, and is lagging.

New York: A new United Nations report calls for greater efforts to advance environmentally sustainable development in Latin America and the Caribbean, which has witnessed the constant reduction of forest areas and the sustained increase of carbon dioxide emissions.

The International Monetary Fund (IMF) has announced that it will shortly initiate the on-market phase of its gold sales program. This is the second phase of the total sale of 403.3 metric tons approved by the Executive Board in September 2009.

New York: The ability to bring essential commodities into Gaza, already under an Israeli blockade that is undermining health care, the economy and rehabilitation after last year's devastating Israeli offensive, was further cut in January by more crossing closures, according to the latest United Nations update.

Economic prospects of Ghana are encouraging. Strong demand for cocoa and gold cushioned Ghana from the worst effects of the global recession, and for 2010, a modest economic recovery is expected.