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LUXEMBOURG - Taking a major step in the global fight against fraud and corruption, leading Multilateral Development Banks (MDBs) today signed an agreement to cross debar firms and individuals found to have engaged in wrongdoing in MDB-financed development projects.

There is a lot of brouhaha over homegrown Bharti Airtel's $ 10.7-billion acquisition of a majority of African assets of Kuwait-based Zain Telecom. The deal had been in the news for months after Bharti's abortive attempt to acquire South Africa's MTN, last year. Sunil Mittal, the billionaire Indian who owes his financial fortune to the country's 18-year-old economic reform, had reportedly said in self-praise that “this (Bharti Airtel) is India's first and truly post-Independence multinational. We will demonstrate to the world the business model we have built.” Indians, like Americans, generally hold extremely good opinions about themselves. Both enjoy basking in self glory.

BHOAL: The last week of the month of March was marked by a series of events which put the Madhya Pradesh BJP government in an embarrassing position and dented its public image.

The Executive Board of the International Monetary Fund (IMF) has completed the first review of the Dominican Republic's economic performance under a program supported by a 28-month Stand-By Arrangement (SBA). The completion of the review enabled the immediate disbursement of an amount equivalent to SDR 79.27 million (about US$119.9 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 279.27 million (about US$422.3 million).

Armenia's accession to the WTO in 2003 consolidated a process of trade liberalization and institutional reforms that started soon after independence from the Soviet Union in 1991. This process has continued since accession and Armenia has now a liberal trade and investment regime, according to a WTO Secretariat report on the trade policies and practices of Armenia.

Tamil Nadu Chief Minister Muthuvel Karunanidhi, himself a celebrated film script writer, would never have dreamt of the real life drama in his life today. The DMK patriarch is a harassed man facing family disputes with his two sons quarrelling for his legacy.

LUCKNOW: Bahujan Samaj Party and Congress are heading for show of strength and confrontation over Ambedkar Jayanti on April 14.

Executive Directors of the International Monetary Fund (IMF) has noted that the Serbian economy has weathered the global financial crisis relatively well. The decline in output has been contained, while falling domestic demand has resulted in significant external adjustment. Going forward, Directors agreed that policies should shift the economy toward more sustainable growth, with resolute reduction of external and fiscal imbalances. Against this background, they welcomed the authorities' focus on strengthened structural and fiscal policies aimed at raising productivity, exports, and saving.

New York: Secretary-General Ban Ki-moon has called on all parties in Sudan to ensure that next week's national elections are free, fair and credible, while voicing concerns about security and logistics for the polls - the first of their kind in 24 years.

The International Monetary Fund (IMF) and the United Kingdom's Department for International Development (DFID) have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.