World Bank provides Pakistan with $5.5bn

Source: BBC

The World Bank plans to provide $5.5bn support for the development of Pakistan. The funds will be used to develop social services such as education and healthcare. The country's economy faces difficulties due to severe floods this year amid global slowdown. The government downgraded the growth forecast for 2011 to 3%.

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Fri, 23 Dec 2011 12:29:33 GMT

Refined copper imports in China surges 16.5% last month

China took advantage of low copper prices and increased its imports of the metal to the highest level in the last two years. The amount of imports added 16.5% to 343,926 tonnes as compared to 295,341 tonnes a month before. However, the overall demand for copper was weaker as the manufacturing output of the country contracted.

Fri, 23 Dec 2011 12:26:00 GMT

China's business confidence decreases in Q4

Business confidence in China decreased in Q4 on the growing fears over the slowdown of the second-largest world economy. The business confidence index lost 6% to 41.7% in Q3, reported the People's Bank of China. Reading below 50% indicates the pessimism on the market.

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