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afghanistan

First international fibre optic cable from Afganistan


The link would transform Afghanistan into a regional hub for Internet, telephone, television and other services.

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indonesia

Indonesia cut its interest rate


The rate cut came in line with expectations. This is the lowest level since July 2005, when the measure was first introduced. In May, the central bank had slashed its benchmark rate by a quarter point to 7.25%.

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south_korea

South korea has $19 billion plan to boost the economy


South Korea's government announces a plan that will benefit over 17 industries that belong of three categories: high value services,green technologies and converged industries. The high value services is health care, education and tourism. The second, converges industries such as broadcasting and communications, food production and pharmaceuticals. Green technologies segment involves a plan to create a environment friendly cities. The first quarter of 2009 the Korean economy rose 0.1 percent and GDP growth was positive. As a result of government fiscal stimulus measures, which grew consumer's confidence and stimulated domestic demand.

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vietnam

Vietnam farmers fall to bauxite bulldozers


By Tran Dinh Thanh Lam - A plan to mine bauxite deposits in Vietnam's Central Highlands, and whose opponents include famed general Vo Nguyen Giap, has provoked dissent even in the companies involved while already tearing up the livelihoods of tea and coffee farmers in nearby towns.

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india

India grew more than expected


The rise in expenditure on the election campaign may have boosted India's March quarter performance but downside effects from the external turmoil have been far too strong to be fully offset by the jump in political spending, the note said. "The impressive victory of the Congress party foreshadows economic reforms, which may help to strengthen the Indian economy," said Sherman Chan, economist at Moody's Economy.com.

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south_korea

South korea offers help to Algeria to diversify its economy


South Korea is offering a important partnership to Algeria, which is going to boost growth. The two countries are going to be partners toward a mutual benefits of technology transfers in fields that South Korea has managed. South Korean vice minster of economy, Kim young Hak leaded a group of 70 businessmen visiting Algeria to create plans for cooperation. Algerian minister of industry and investment promotion, Hamid Temmar, who represented the African country said " The two countries can head towards a technological partnership notably in the sectors of electronics, mechanical engineering and petrochemicals". South Korea began to build factories in Algeria since 2008, with a private company Cevital and Samsung started to build firms in Selif (185 miles east of Algiers). At the same year, the south korean consortium Hyndai engineering and construction signed a contract to rebuild a refinery at Arzew , and Naftec, a subsidiary of the Algerian oil group Sonatrach near the western city of Oran.

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srilanka

Hope to rebuild life after the war


Credit scheme would help people to start over and rebuild lives. The Central bank governor Nivard Cabraal said that "re-finance credit scheme would be within our reserve money." Analysts don't agree with governor Cabraal because credit scheme is printed money that increase inflation and unbalance the currency. However, Mr. Cabraal is very determinate to keep the inflation under control. In fact, the inflation went down in the one year to April to 2.9 percent. The rural credit schemes re-financed with printed money stimulated high inflation numbers in the 80's decade. The Sri Lanka's central bank has cutting rates by 750 points in 2009, however the reserve money growth is almost flat after a seasonal spike last month.

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singapore

Singapore dollar climbs to 2-day high against U.S. and Hong Kong counterparts


During early deals on Wednesday, the Singapore dollar climbed to a 2-day high against its U.S. and Hong Kong counterparts as a rebound in Asian stocks increased demand for emerging market assets. On the other hand, the Singapore currency edged down against the euro and the pound. The Singapore dollar declined to a 2-day low versus the European currency. The Singapore dollar that closed Tuesday's New York deals at 1.4968 against the US currency rose to a 2-day high of 1.4936 at 11:10 pm Eastern Time. On the upside, the Singapore currency may likely find target near the 1.485 level. The pair is currently quoted at 1.4940.

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china

China Citic Bank's Net Rises 61%


China Citic Bank Corp. said its 2008 net profit rose 61% on higher net interest income. Net profit for the 12 months ended Dec. 31 totaled 13.32 billion yuan ($1.95 billion), up from 8.29 billion yuan in 2007, the midsize lender said. The bank earlier forecast its 2008 net profit would rise around 60% on steady asset growth, higher fee-based and commission income, and a lower cost-to-income ratio.

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india

India 10-Year Bond Yield at Six-Week Low. RBI Plans to Buy Debt


April 22 (Bloomberg) -- India's 10-year bonds advanced for a sixth day, the longest winning streak in four months, after the central bank said it will buy existing debt. Benchmark yields were at the lowest in six weeks after the Reserve Bank of India said it will purchase 60 billion rupees ($1.2 billion) of securities in open-market operations tomorrow. The central bank's decision to cut interest rates yesterday may help the government reduce borrowing costs as it plans record debt sales in the fiscal year that started April 1. Bonds erased the day's gains after the drop in yields deterred investors before a debt sale on April 24.

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japan

Japan Suffers First Trade Deficit Since 1980


apan's trade balance for fiscal 2008 suffered its first annual deficit in nearly three decades, data released Wednesday showed, underscoring the difficulty facing the export-reliant country in its attempt to get out of recession. The result also highlights how vulnerable the world's second largest economy is to the sharp slowdown in global trade triggered by the U.S.-originated financial crisis.

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south_korea

Korea Prices $3 Billion Global Bond


South Korea discovered yesterday that giving a little can elicit unexpected rewards. By conceding on pricing, it managed to raise one-and-half times more cash than it initially intended. Korea raised $3 billion with an issue of senior, fixed-rate, SEC-registered, dual-tranche global notes, priced bang in the middle of the early price guidance. The issue was split equally, with $1.5 billion each for the five- and 10-year tranches. The republic had originally planned for a $2 billion issue, so it must have been pleasantly surprised.

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