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Dubai’s historic Expo 2020 win to transform its economy

Tallying of 116 out of 163 votes, Dubai beat off rival bids from Brazil, Turkey and Russia, and won the right to host the World Expo trade convention in 2020. Dubai is the first city in the Middle East and

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Once the world’s 7th richest man is now going bankrupt

Brazilian former billionaire Eike Batista has filed for a second bankruptcy protection this year. His shipbuilding firm, OSX Brasil, has filed for bankruptcy protection, with an estimated debt of about USD 2.3bn. This comes only two weeks after its sister

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Once the world's 7th richest man is now going bankrupt

Brazilian former billionaire Eike Batista has filed for a second bankruptcy protection this year. His shipbuilding firm, OSX Brasil, has filed for bankruptcy protection, with an estimated debt of about USD 2.3bn. This comes only two weeks after its sister

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Brazil looking into privatization to boost its economy

Brazil is set to launch the first part of its major plans to help boost the disappointing growth levels. The plan involves privatization of roads, railways, port and perhaps other airports to improve the country’s much-criticized infrastructure. President Dilma Rousseff

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China and Brazil in Currency Swap Deal

China and Brazil have agreed a currency swap deal to allow their respective central banks to exchange local currencies up to USD 30bn. The amount would serve as a safeguard reserve in times of crisis and towards strengthening bilateral ties.

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UK offers £10bn loan to the IMF

The IMF says it has received firm commitments of more than $430bn. The money is to help economies in trouble and includes just under £10bn ($15bn) from the UK in loans to the International Monetary Fund (IMF). It is part

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