Word: banking
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...Georgia's GDP grew by 9.6%, the World Bank named Georgia the top reformer in the world. Its officials forecast growth of 14.5% in 2007. The Georgian government boosted revenues by tightening up the administration of the tax system. Private investment went up and there has been a crackdown on corruption. Per capita income is up from $700 a year in 2003 to the current figure of $1,500. The most astonishing achievement was Saakashvili's reform of the traditionally corrupt police forces. He disbanded the entire Ministry of the Interior - with recruitment based on the western testing system...
...excesses of the Shah were to his opponents in Iran 30 years earlier. During Bhutto's government, Pakistan was declared one of the most corrupt nations in the world, and she and her husband Asif Ali Zardari were charged with jointly laundering no less than $1.5 billion through Swiss bank accounts. (The charges against Zardari still stand...
...will be a long, fraught process, and investors - whether they're pushing ethanol, hybrids or something new - need long-term certainty that they won't be undercut by old, dirty fuels dipping down to cheaper prices again. "That risk [of volatility] makes consumers and investors alike very reluctant to bank on high prices," says Greene. It doesn't make sense to spend hundreds of millions on an ethanol plant if the Saudis can undercut you by turning on the oil spigots...
...budget, the Belgian troop presence in Lebanon, and the rise in food and fuel prices. Last Saturday, about 20,000 people took part in a demonstration called by unions to protest against the political state of paralysis and the aforementioned price hikes. Last week, the Belgian central bank said inflation would speed up next year to its highest rates of the decade, while economic growth will slow more than previously projected. On top of that, the European Commission has also warned that the political paralysis is beginning to affect Belgium's economy...
Sooner or later the politicians were bound to weigh in. On Nov. 7, Stephen Harper announced he was "concerned" about the dollar's "unprecedented" rise, an unusual Prime Ministerial foray on to Bank of Canada turf. Ontario Premier Dalton McGuinty met with the PM the next day, calling for lower interest rates and a federal contribution to a $1.1 billion jobs fund for struggling Ontario manufacturers. (Harper made no promises.) The same day, the Quebec Premier was demanding a loonie summit with all the provincial Premiers. (One is now scheduled for January). Just six weeks after the loonie achieved parity...