Romanian leaders get criticized over $1.5 billion helicopter deal
Article Abstract:
Romanian officials are criticized by international lenders for proceeding with a costly defense project that is expected to strain the country's critical finances. Under the four-year defense contract, Romania is set to pay US-based Bell Helicopter Textron $1.5 billion for 96 AH-1RO Dracula attack helicopters in cooperation with the country's IAR Ghimbav Brasov SA. Bell Helicopter will also acquire a 70% stake in the IAR Ghimbav for a total investment of $70 million. Finance Minister Daniel Daianu stated that the expensive deal comes at a time when there exists enough financial problems.
Comment:
Romania: Govt officials are criticized by intnl lenders for proceeding w/ a costly defense project expected to strain finances
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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China lifts interest rates amid a rise in inflation
Article Abstract:
China's central bank, the People's Bank of China, indicated its concerns over rising inflation by increasing its interest rates for the third time this year. The 0.27% increase placed lending rates at 6.84%, while deposit rates were increased by the same amount and are now at 3.33%.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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