Wednesday, June 17, 1998
Long depression awaits Asia: WB
The World Bank on Tuesday said Asia was plunging into depression, and called on Japan to help pull the region out of its economic nose-dive. World Bank senior regional official Jean-Michel Severino said Asia was on the threshold of a deep and long depression and warned that a global economic slump could be just months away.
BJP may finally back Kalmadi
After a week of indecisiveness, now it seems BJP will throw its weight behind former Congress leader Suresh Kalmadi for the June 18 biennial elections to the Rajya Sabha. A formal announcement in this regard is expected to be made today.
Russian N-deal to test US sanctions
In the face of US economic sanctions against India's nuclear tests, Moscow and New Delhi will sign a "supplement" to the 1988 agreement to build two civilian nuclear power plants in Tamil Nadu. As Washington attempts to force a grand international coalition against India on imposing coercive measures, government sources said the Russia-India deal will have the effect of breaking the "perceived isolation" of this country.
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