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19/07/2001
WORLD BANK REJECTS US DEBT PROPOSAL
PRESIDENT BUSH has come under attack ahead of this weekend’s G8 summit in Genoa over his recent suggestions surrounding the resolution of the issue of third world debt.
Mr Bush is proposing an economic strategy that involves the conversion of a large proportion of the available financial aid into grants, rather than loans, on the basis that this would eliminate the crippling problem of debt that many impoverished countries face, as they would not thenhave to pay the money back.
However, the suggestion has come under heavy criticism from many sources, including the World Bank, which claims such a move could see a massive reduction in the amount of aid the World Bank could make available to poor countries, especially if richer nations are not prepared to up their contributions.
Despite President Bush’s comments of continued commitment to “responsible debt relief”, it is thought that the US administration is not developing any plans to increase its funding contribution to the World Bank funding.
Meanwhile, a group of peaceful protestors from Northern Ireland have arrived in Genoa, where they will to take part in a ‘drop the debt’ campaign aimed at exposing the burden of debt carried by third world countries.
The activists say they wish to help publicise how the crippling amounts of interest paid by such nations is adversely affecting their populations, with an estimated 19,000 children dying every day as a result of poor living conditions caused by imposed financial demands. (CL)
Mr Bush is proposing an economic strategy that involves the conversion of a large proportion of the available financial aid into grants, rather than loans, on the basis that this would eliminate the crippling problem of debt that many impoverished countries face, as they would not thenhave to pay the money back.
However, the suggestion has come under heavy criticism from many sources, including the World Bank, which claims such a move could see a massive reduction in the amount of aid the World Bank could make available to poor countries, especially if richer nations are not prepared to up their contributions.
Despite President Bush’s comments of continued commitment to “responsible debt relief”, it is thought that the US administration is not developing any plans to increase its funding contribution to the World Bank funding.
Meanwhile, a group of peaceful protestors from Northern Ireland have arrived in Genoa, where they will to take part in a ‘drop the debt’ campaign aimed at exposing the burden of debt carried by third world countries.
The activists say they wish to help publicise how the crippling amounts of interest paid by such nations is adversely affecting their populations, with an estimated 19,000 children dying every day as a result of poor living conditions caused by imposed financial demands. (CL)
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07 February 2002
BT plan to cut broadband access prices
Plans have been put in motion by BT to cut charges for access to its broadband network, which should lead to cheaper high-speed internet access in the UK. BT's plan to make the changes in the coming weeks are expected to give a shot in the arm to the roll-out of high-speed internet access across the UK.
BT plan to cut broadband access prices
Plans have been put in motion by BT to cut charges for access to its broadband network, which should lead to cheaper high-speed internet access in the UK. BT's plan to make the changes in the coming weeks are expected to give a shot in the arm to the roll-out of high-speed internet access across the UK.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
