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IMF calls for world's $1.9tr fossil fuel subsidies to be removed

2013-03-28 12:06:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: Removing worldwide fossil fuel subsidies worth $1.9tr would have "major gains for economic growth and the environment" the International Monetary Fund (IMF) said yesterday. A study by the international body estimates support for products from coal to petrol equate to around 2.5 per cent of global GDP and account for roughly eight per cent of all government revenues. It shows that 20 countries maintain pre-tax energy subsidies that exceed five per cent of their GDP. "For some countries the fiscal...

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Boonsong calls for early meet |on agriculture, industry

2013-03-27 21:33:12| Agriculture - Topix.net

Commerce Minister Boonsong Teriyapirom yesterday called for a meeting early next month with operators in the agricultural and industrial sectors to discuss ways to tackle the baht's appreciation.

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Canada: TransAlta official rejects calls for accelerated phase-out of coal plants

2013-03-27 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Edmonton Journal: An official at one of Albertas biggest electricity companies agrees the province needs to invest more in renewable energy -- but takes issue with other assertions in a report that focuses on the health impact and climate costs of coal-fired generating plants. Don Wharton, vice-president of sustainable development for TransAlta, said Tuesday he recognizes a transition from fossil fuels needs to take place, but rejects the suggestion that Albertas coal plants should be phased out at an accelerated...

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OSFI calls six banks systemically important, will face capital surcharge

2013-03-26 21:52:08| Grocery - Topix.net

The federal financial supervisor has slapped a too-big-to-fail label on Canada's six largest banks, declaring they will need to carry a bigger capital buffer and be subjected to stricter supervision than their smaller peers.

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W.Va. House calls on Patriot Coal to fund benefits

2013-03-25 22:49:30| Energy - Topix.net

Asking the state Senate to do the same, West Virginia's House of Delegates on Monday called for bankrupt Patriot Coal Corp.

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