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South Korea subway crash injures dozens

A collision between two subway trains left at least 40 people injured in the South Korean capital of Seoul, according to local media reports. south KoreaOne subway car derailed due to the impact of the collision and passengers walked from the trains on the tracks, the South Korean TV station, YTN television said. Estimates varied on how many people were injured with some South Korea news outlets reporting up to 170 were hurt.

Guardian editor joins CPJ board

Guardian editor Alan Rusbridger has joined the board of directors of the Committee to Protect Journalists, bringing his expertise and commitment to the struggle for global press freedom to the independent nonprofit organization. guardian editor"Alan Rusbridger has been determined and courageous in publishing some of the biggest stories of our time, including recent revelations of U.S. and U.K. mass surveillance for which the Guardian was recently awarded a Pulitzer Prize," said Sandra Mims Rowe, chairman of the CPJ board. "His expertise an...

Bank of Cyprus sells business in Ukraine, Romania

bank-of-cyprus2Cyprus’ largest bank says it has sold off its business in Ukraine and a stake in a Romanian bank to help reduce risk and improve cash flow for the troubled lender.   Bank of Cyprus says it has completed the sale of its loss-making operations in Ukraine to Alfa Group for 202.5 million euros ($280.5 million) — 10 percent less than the original price.   It has also sold a 10-percent stake in Banca Transilvania fo...

Ukraine rejects Russia gas price hike

_74055011_021442148-1Ukraine yesterday rejected Russia's latest gas price hike and threatened to take its energy-rich neighbour to arbitration court over a dispute that could imperil deliveries to western Europe. Prime Minister Asreniy Yatsenyuk said Russia's two rate increases in three days were a form of "economic aggression" aimed at punishing Ukraine's new leaders for overthrowing a Moscow-backed regime last month. Russia's natural gas giant Gazprom this week raised the price of Ukrainian gas by 81 percent -- to...

Former Avon CEO to run Grameen America

The former head of Avon is now leading Grameen America, a group that provides small loans to poor women entrepreneurs in the U.S. Andrea Jung was CEO of the beauty products company from 1999 through April 2012 and served as chairman through the end of that year. Considered one of the most powerful women in business, she came under fire for failing to stem Avon's sales declines and left amid an overseas bribery investigation. avon ceoBut as head of Avon, she pushed a message of female self-empowerme...

Tight budget less crucial with interest rates low: IMF

The IMF traditionally calls on its member nations, especially those receiving its financial support like Greece and Portugal, to rein in spending to reduce their budget deficits and public debt, AFP reported. But the persistence of unusually low interest rates in the major economies has pushed the global lender into questioning—at least on the margins—its doctrine, according to an analytical chapter of its World Economic Outlook report released ahead of next week’s IMF/World Bank spring annual meetings. Market rates paid by nations to finance themselves “have declined substantially” since the 1980s and now are even in “slightly negative territory” when taking into account inflation, the 188-nation IMF said. IMF
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