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World Bank Private Sector Arm to do More for Africa

The World Bank's private sector arm, criticised by civil society for investing largely in middle income countries, will ratchet up its projects in Africa and poor regions, the agency's head said on Wednesday.

IMF and World Bank to pursue internal reforms

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As the International Monetary Fund embarks on a second round of reforms to give developing countries more say in the institution, the World Bank signalled on Wednesday that it was ready to go the same route.

China, India to Boost Africa's Economy

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Africa'S deepening engagement with Asia's two economic giants-China and India-holds enormous potential for economic growth in Africa, according to a new report by the World Bank, released September 9.
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IMF to pursue internal reforms, World Bank to follow

An agreement to boost the voting power of emerging nations in the International Monetary Fund is just the start of a difficult process, the IMF's head said on Wednesday, as the World Bank signaled it was ready to go the same route.
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Africa Must Welcome China - Mozambique's Chissano

Increased Chinese involvement in Africa should be welcomed, former Mozambique President Joaquim Chissano said on Monday, dismissing accusations that Chinese policies can encourage human rights abuses.
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Strong dollar in U.S. interest: Paulson

U.S. Treasury Secretary Henry Paulson said on Monday a strong U.S. dollar was in the interest of the United States and he was not seeking any quick fixes on China's currency situation.
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International Finance Corporation Refocusing on Africa

The World Bank's private sector arm said on Monday it hiked investments in the Middle East and Africa by 80 percent in the year that ended in June due to higher demand in those regions and it aims to do more in 2007. We are refocusing on these countries, International Finance
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G7 sees strong growth

The world's leading industrial countries are enjoying strong growth but face the risk of rising inflationary expectations, tight energy markets and spreading protectionism
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Taiwan Web site to close online music swapping

Taiwan online music file-sharing network Kuro has agreed to shut down its file swapping service and pay undisclosed damages to settle a recording industry lawsuit, the industry group behind the row said.
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Xinhua says it seeks no profit from media rules

China and its official Xinhua news agency defended new rules controlling foreign news organisations on Thursday, saying they are not aimed at commercial gain and will not give the agency unfair dominance.
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Rolls Royce Strikes $800million Air China Deal

Today Rolls Royce Plc announced that it had struck a deal worth US$800 million with Air China. Air China has chosen to use the Rolls Royce Trent 1000 engine for use on its new fleet of 15 Boeing 787 Dreamliners.
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Oil rebounds after six-day slide

Oil rebounded above $66 a barrel on Tuesday, with bargain hunting traders ending a six day retreat after Iran sounded a softer note on its atomic programme
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Mandelson: No New WTO Talks Until Nov.

High-level talks to jump start negotiations on a global trade agreement won't be possible until the end of the year or early next year, European Union Trade Commissioner Peter Mandelson said Monday.
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China draws foreign firms, Chinese flee

The grass is always greener on the other side in China: foreign companies want to tap the country's 1.3 billion consumers while some Chinese firms are desperate to escape the cut-throat competition at home.
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Rewards, risks as Chinese embrace credit

As China evolves from a nation of savers to one of borrowers and investors, banks are salivating over the prospects, but risks loom in a market where consumer credit is a novelty and competition is intensifying.
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Tanigaki mum on topic of forex talks at G7

Japanese Finance Minister Sadakazu Tanigaki said on Friday that G7 financial heads would discuss exchange rates when they meet in Singapore on September 16, but he declined to say if the yen would be at the center of those talks.
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Drought shrivels worldwide wheat supply

From Australia to Argentina, erratic weather is slashing wheat crops of the major producers, which is threatening to push up prices to multi-year highs and making it difficult for countries to replenish stocks.
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China heroes mark time before foreign Web game assault

A patriotic Internet game featuring heroic Chinese and designed to wean the young off their addiction to violent foreign games is still not ready for release a year after development begun, state media said on Tuesday. Unlike the more popular games, where players have to slay dragons, fight aliens or beat up bad guys, in Chinese Heroes players click on statues to learn about their experiences and carry out tasks like moving bricks, Xinhua news agency said.
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China to invest $5 billion in Venezuela energy

China will invest around $5 billion in energy projects in Venezuela by 2012 as part of a plan to boost Venezuela's oil output, the South American country's energy minister told state television on Monday.

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