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Inflation to drive future action
Business Standard / New Delhi October 28, 2009, 0:09 IST

Aluminium may substitute copper on price volatility
All the base metals on the London Metal Exchange continue to rise higher and higher, aided principally by the growing investor support, improving global economic sentiment and inflation in smelter operational costs. At this point, with investors deciding to pin their faith on positives like good showing by China and India; and Euro zone breaking out of recession and not to be bothered by still wobbling US economy, copper is bid at $7,454 a tonne and aluminium at $2,293 a tonne, for ready delivery.

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Finance panel report suggests new path for fiscal prudence
The Thirteenth Finance Commission has suggested the path of fiscal consolidation and sharing of tax revenues between the Centre and the states, in its report submitted to President Pratibha Patil today.
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UN to cut staff by 40% in Pak on security concerns

The United Nations plans to reduce about 40 per cent of its staff in Pakistan by realigning their deployment due to growing security concerns in the wake of a wave of terrorist attacks across the country. - Pak must cooperate with US to wipe out Al-Qaeda: Obama - Zardari seeks US mediation on Kashmir - Obama threatens to send troops to Pak to shut down Taliban - "Pakistanis are the most endangered by extremism" - "White House authorises expansion of drone attacks in Pak" - Surge and withdraw A significant number of UN staff, particularly foreign nationals, will be transferred to safer projects within Pakistan or sent abroad, sources said. The staff will be gradually reduced by realigning their deployment in projects, they said. The move will ultimately lead to a reduction of about 40 per cent of the UN staff, sources said. The UN information centre in Islamabad said a decision had been made to reduce staff due to growing security concerns but made it clear that the move would not affect ongoing humanitarian projects. UN spokesperson Ishrat Rizvi too confirmed the decision but did not say how many UN staff would be leaving Pakistan. Media reports said the world body decided to relocate its international staff members working on different projects following a series of meetings between senior UN and Pakistan government officials. The reduction of staff will be done in two phases. In the first phase, all international staff members working on long and short-term projects in sensitive areas will be relocated to projects in safer locations. In the second phase, international staff members who cannot be relocated will leave Pakistan, the reports said. The move is expected to affect several projects across Pakistan, particularly in the restive North West Frontier Province and tribal areas. Last month, the UN said it would pull out all but essential international staff from Pakistan’s northwest and tribal areas after Secretary General Ban Ki Moon declared a security level of "Phase IV" for the region. Under this provision, only emergency operations are carried out by the UN. The office of the UN food agency in Islamabad was among targets struck by militants in a recent wave of bombings and suicide attacks across Pakistan. Five UN staff members, including an Iraqi national and two Pakistani women, were killed in a suicide attack on the World Food Programme office on October 5.


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