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Children falling victim to EU economic crisis

Children in the European Union are increasingly falling victim to the economic crisis, the EU's rights agency warned Tuesday, citing the case of Greece where school-children were suffering from hunger. Against a backdrop of rising unemployment and increased deprivation, "child poverty in the EU is an issue of growing concern," said the EU Agency for Fundamental Rights in its 2012 annual report.

Bangladesh's pioneering bank faces uncertain future

Bangladesh's pioneering microlender faces an uncertain future after a commission proposed the government take over or break up the Nobel-award-winning bank, analysts said Tuesday. The government commission has released a working paper on restructuring Grameen Bank, founded by Nobel Laureate Muhammad Yunus and which has lent more than $11 billion to millions of people -- mainly women -- to help them gain financial independence.

FDI into China rises in Jan-May

Foreign direct investment (FDI) into China rose during the first five months of this year, the government announced Tuesday, paced by strong increases from the European Union and United States. Incoming FDI, which excludes financial sectors, rose 1.0 percent to $47.6 billion from January through May, the Commerce Ministry announced. It was also up 0.3 percent in May to $9.26 billion from the same month last year, the ministry said.

Icelandic PM says he'll ignore IMF's advice

Iceland's new Prime Minister Sigmundur David Gunnlaugsson said Monday he would ignore the International Monetary Fund's criticism of his government's plans to reduce household debt following the country's economic collapse. "We will not let an international institution tell us that it is not possible to do more for Icelandic households at the same time as it reminds us of the importance of settling the final account following the economic crash," Gunnlaugsson said in a speech celebrating Iceland's independence day on Monday.

Resource companies ripping off Africa: AfDB chief

By Carolyn Cohn LONDON (Reuters) - Developed world mining and energy companies operating in Africa should pay more taxes to help the world's poorest continent climb out of poverty, the president of the African Development Bank said on Sunday.

Japan's Uniqlo to open stores in Bangladesh in tie-up

Japanese clothing chain Uniqlo will open stores in Bangladesh in a joint venture to tap into the nation's growing middle class, the joint business said Wednesday. Fast Retailing, which owns Uniqlo, has teamed with Grameen Healthcare, run by Bangladesh's Nobel Peace laureate Muhammad Yunus, to initially open two stores in Dhaka. The stores, to be operated by the tie-up Grameen Uniqlo, will be the first in Bangladesh from a leading global retailer.

Japan's Uniqlo to open stores in Bangladesh in tie-up

Japanese clothing chain Uniqlo will open stores in Bangladesh in a joint venture to tap into the nation's growing middle class, the joint business said Wednesday. Fast Retailing, which owns Uniqlo, has teamed with Grameen Healthcare, run by Bangladesh's Nobel Peace laureate Muhammad Yunus, to initially open two stores in Dhaka. The stores, to be operated by the tie-up Grameen Uniqlo, will be the first in Bangladesh from a leading global retailer.

World Bank aims to get private sector to help end extreme poverty for millions

MONTREAL - The World Bank is aiming to end extreme global poverty by 2030 by leveraging contributions of the private sector, the agency's president said Tuesday. "In order to get there, we're going to be extremely realistic about the sources of growth and job creation that will lead to our ability as a world to end poverty," Jim Yong Kim told reporters at an economic conference. Currently, the $125 billion a year in official development assistance "pales in comparison to the need," Kim said.

Grain shortage halts UN food processing factories in N. Korea: report

SEOUL, June 4 (Yonhap) -- Grain shortages caused some United Nations (UN) food processing factories in North Korea to shut down temporarily, hurting ongoing support to nourish people in the communist country, a report said Tuesday. World Food Programme spokeswoman Nanna Skau told Radio Free Asia (RFA) that operations at five of the international organization's 14 food factories in the North have been halted because of grain shortages. The production facilities make fortified biscuits mainly for children.

Japan, Africa eye private sector-led growth, improved security

Leaders and delegates from Africa and Japan agreed Monday that the private sector needs to play a greater role in improving the quality of growth in Africa. They also noted the need to create a resilient and investment-friendly economic environment in the continent by curbing conflicts, terrorism and piracy.
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