Swiss Traders Already Admitted Iraq Payoff
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As investigators continued their probe into the scandal-tainted U.N. oil-for-food program in Iraq, the Associated Press learned on Sunday that at least two Swiss trading companies paid kickbacks to secure contracts to buy oil from Saddam Hussein.
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BERLIN: The United States, Germany and other G7 nations agreed yesterday to write off up to 80 per cent or $33 billion of Iraq&#39;s Paris Club debt, which could pave the way for a wider international accord, officials said.
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A statement posted on a Web site purportedly by an Iraqi group which says it is holding two French hostages has set a $5 million (2.
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The Paris Club of international creditors has agreed to cancel 80 percent of the debt Iraq owes member countries. Officials say the deal, brokered in Berlin, is worth about $33 billion.
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Â· Guns and equipment already handed overÂ· Insurgents promise not to attack Americans
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Russia agreed Sunday to join in an international agreement to forgive up to 80 percent of Iraq&#39;s foreign debt, allowing the deal brokered by German and US officials to go ahead.
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A French finance ministry spokesman said the Paris Club of creditor nations had reached a deal yesterday to write off 80 per cent of the debts Iraq owes them.
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There had already been an attempt to stabilise the euro at $1.20, he was reported as saying.
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Switzerland says it will hand back to Nigeria $500m allegedly embezzled by the late military ruler Sani Abacha.
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Switzerland's struggling national airline Friday announced it had agreed to a 325 million Swiss franc (&#36;258 million) loan from an international banking syndicate.
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9 September 2004 -- Iraqi President Ghazi Ajil al-Yawir met today with German leaders and renewed a call for Iraq&#39;s foreign debt to be forgiven.
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Westpac says it believes it has already paid the correct tax on transactions which are the subject of an amended tax assessment by the Inland Revenue Department (IRD).
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Germany&#39;s Finance Minister Hans Eichel said Saturday he and US Treasury Secretary John Snow had agreed on a proposal to write off as much as 80 percent of
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LONDON (CBS.MW) -- Zurich Financial (ZZ:001107539) gained 2.6 percent in Swiss trade after agreeing to settle US nursing home litigation by paying $47.5 million.
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The United States, Germany and other G7 nations agreed on Saturday to write off up to 80 percent of Iraq&#39;s $120 billion foreign debt in a move that could
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The United States, Germany and other G7 nations have agreed to write-off up to 80% of Iraq&#39;s so-called Paris Club debt. The agreement was made on the sidelines of the G20 meeting of rich and developing nations
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Iraq&#39;s interim finance minister Adel Abdel Mahdi has hailed an agreement by a group of creditor nations including Australia to write off a large chunk of debt inherited from the former regime of Saddam Hussein.