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BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation of the World Bank is to invest US$35 million in Pakistan’s Dewan Salman Fibre Ltd, the largest producer of polyester staple fibre in the country. The money – a senior loan of US$30 million, a convertible loan of US$4 million, and a US$1million participation in a convertible preferred stock issue – will help the company expand its polyester staple fibre capacity by adding a specialty fibre line of 20,000 tonnes per annum, refinancing debt, and funding its need for permanent working capital.…

BY SWINEETHA DIAS WICKRAMANAYAKA
THE CHINESE state-owned Aluminium Corporation of China (Chinalco) has asked the Indian government permission to set up a 12-million tonne aluminium smelter and captive power plant worth INDRupees 17.5 billion (US$360 million). Of this investment, INDRupees 5.25 billion (US$110 million) would be in equity, with a 50 per cent foreign equity element, and the remaining INDRupees 12.25 billion (US$250 million) would be from international investors.…

BY KEITH NUTHALL
MICROSOFT, Vodafone, Oracle, AT&T, Nokia, Verizon, IBM and other telecoms related companies have joined a protest statement coordinated by the International Chamber of Commerce against a Spanish law restricting e-commerce.

Spain is not only requiring commercial websites based on its territory to register with its government, but also to insist that Spanish ISP’s block access to site that are deemed threatening to the country’s defence, public order, consumer rights or other values.…

BY KEITH NUTHALL
THE ORGANISATION for Economic Cooperation and Development (OECD) has launched a review of its guidelines on corporate governance, to assess how they might be reformed in the light of the accounting scandals that have dogged the US recently.…

BY KEITH NUTHALL
AS the bill for cleaning up after the Prestige disaster grows larger and larger, the Organisation for Economic Cooperation and Development (OECD) has committed itself to redoubling efforts to raise the standard of shipping amongst its developed country members.…

BY KEITH NUTHALL
A RESTRICTED trade in cloth from wool culled from captured wild vicuna in Argentina, Bolivia and Chile has been approved by a conference of parties to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).…

Keith Nuthall
THE INTERNATIONAL Air Transport Association and the US’s Federal Aviation Administration are launching a CD-rom designed to train and raise the awareness of pilots and air traffic controllers in reducing the risk of runway incursions by taxiing aircraft.

Delegates at a recent International Civil Aviation Organisation (ICAO) conference on the topic in Mexico City heard that this Runway Safety Education and Training Aid was necessary because – said one speaker – “in recent years the number of runway incursions has increased significantly worldwide,” and stands to increase further as civil aviation grows.…

BY KEITH NUTHALL
THE BURIAL of carbon dioxide underground has been examined by an international workshop on reducing CO2 air emissions convened by the United Nations Economic Commission for Europe. It debated good practice such as International Energy Agency sponsorship of projects dealing with the capture, transport and underground storage of CO2.…

BY KEITH NUTHALL
MINING companies planning projects in the tropics should conduct detailed assessments of potential disruption to indigenous peoples, before going ahead, the United Nations has said. Klaus Toepfer, executive director of the UN Environment Programme (UNEP) said that the same legally binding standards regarding environmental impact assessments should apply to anthropological checks on the “life-styles and cultures of indigenous peoples.”…

BY PHILIP FINE

The US is one step closer to ratifying an international nuclear accident treaty. President George W. Bush has sent the United Nations Convention on Supplementary Compensation for Nuclear Damage to the US Senate for a final vote. The Convention was introduced in Vienna more than five years ago, when it was adopted by the International Atomic Energy Agency.…