ADDIS ABABA - AFRICA'S economic growth will slow to 3.5 per cent this year and could drop to 2.5 per cent in 2010 unless rich nations take action to counter the impact of the global financial crisis, the World Bank said on Sunday.
Experts say initial hopes the world's poorest continent would escape the worst of the turmoil were premature and it will be hit hard by falling demand for commodities, reduced remittances, investment, tourism and domestic tax revenues.
White House works on bailout details
Plans to loosen credit could come this week; Obama promises transparency President Barack Obama promised yesterday to lower mortgage costs, offer job-creating loans for small businesses, get credit flowing and rein in free-spending executives as he readies a new road map for spending billions from the second installment of the financial rescue plan.
Don’t raise toast: IITs will have to put up with quota
It may be a bit too early for the IITs to celebrate. Not only is the Scheduled Caste and Scheduled Tribes (Reservation in Posts and Services) Bill 2008 yet to be passed, thereby notified as law, exemptions provided by it don’t cover all the disadvantaged sections.
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