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Pakistan braces for 'transitional pain' as IMF approves $7 bn loan
Pakistan braces for 'transitional pain' as IMF approves $7 bn loan
by  AFP

Pakistan said Thursday it would have to go through "transitional pain" after the International Monetary Fund agreed to a new relief package of $7 billion to bolster its faltering economy. "There will be transitional pain, but if we are to make it the last programme, then we have to carry out structural reforms," Finance Minister Muhammad Aurangzeb told local broadcaster Geo News.

French borrowing costs surpass Spain's, a first since 2006
French borrowing costs surpass Spain's, a first since 2006
by  AFP

The French government's borrowing costs surpassed Spain's for the first time in almost 18 years on Thursday as investors worry about France's yawning public deficit. Eric Dor, director of economic studies at France's IESEG School of Management, said the "dramatic improvement in the performance of southern countries" was the main factor behind Spain's borrowing costs being lower than France's.

World's first CO2 storage service soon ready in Norway
World's first CO2 storage service soon ready in Norway
by  AFP

Norway inaugurated Thursday the gateway to a massive undersea vault for carbon dioxide, a crucial step before opening what its operator calls the first commercial service offering CO2 transport and storage. On the island of Oygarden, a key milestone was marked on Thursday with the inauguration of a terminal built on the shores of the North Sea, its 12 shiny storage tanks rising up against the sky.

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