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Egypt approves AIIB loan to build metro line in Alexandria

STORY: Egypt approves AIIB loan to build metro in Alexandria DATELINE: Aug. 18, 2023 LENGTH: 00:00:55 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the meeting of Egyptian Cabinet (courtesy of Egyptian Cabinet) STORYLINE: The Egyptian government approved on Thursday a loan from the Asian Infrastructure Investment Bank (AIIB) to finance a metro line in the northern coastal province of Alexandria, said the Egyptian cabinet in a statement. The Beijing-based bank will provide Egypt with 250 million euros (about 272 million U.S. dollars) to fund the Abu Qir metro line in the Egyptian coastal city of Alexandria, based on a deal signed by Egypt's Ministry of International Cooperation and the AIIB in China last month. The project, which is estimated to cost 1.5 billion euros, will be co-financed by the AIIB, the European Bank for Reconstruction and Development, the European Investment Bank, and the French Development Agency. The new metro line will be developed on the existing Abu Qir railway line,

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

E

Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

E

Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

E

Ant Group Fined 7.123 Billion Chinese Yuan

SHANGHAI, CHINA - JULY 7, 2023 - Ant Group exhibits at the 2023 World Artificial Intelligence Conference in Shanghai, China, July 7, 2023. Display the development achievements of trusted AI base stations, AIGC+ meta-universe, AIoT blockchain and other fields, especially noting the status of Alipay as the official partner of Hangzhou 2022 Asian Games. On the same day, it was reported that Ant Group and its subsidiaries had violated laws and regulations in corporate governance, financial consumer protection, participating in the business activities of banking and insurance institutions, engaging in payment and settlement business, fulfilling anti-money laundering obligations and carrying out fund sales business, etc., and were fined 7.123 billion yuan by the financial management department, requiring the closure of the illegal "mutual treasure" business. And compensate the interests of consumers in accordance with the law. Ant Group responded to the sincere acceptance and will further consolidate the level of c

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Japan vows commitment to ADB fund

MANILA, Philippines - Japanese Finance Minister Jun Azumi speaks at an annual meeting of the Asian Development Bank in Manila on May 4, 2012. Azumi vowed Japan's strong commitment to the ADB's low-interest fund to help Asia's poorest, by offering to provide 35 percent, or around 157.1 billion yen ($1.96 billion), of a record-high increase of the fund over four years from 2013.

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ADB President Kuroda in Manila

MANILA, Philippines - Asian Development Bank President Haruhiko Kuroda holds a press conference in Manila on May 2, 2012. Kuroda said the bank has secured $12.4 billion to help Asia's poorest over the next four-year phase of its concessional development fund.

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ADB eyes beefing up fund for low-income nations

MANILA, Philippines - Asian Development Bank President Haruhiko Kuroda speaks during a press conference at the head office of the ADB in Manila on April 27, 2012. Kuroda said the ADB plans to increase its fund for assisting low-income nations in the Asia-Pacific region with low-interest loans by a record $12 billion over four years from 2013

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ADB to set up new fund to help developing countries

BALI, Indonesia - Asian Development Bank President Haruhiko Kuroda speaks at a news conference at the resort town of Nusa Dua on Bali Island on May 2. Kuroda said the bank plans to set up a $3 billon fund to help developing countries cope with the global financial crisis.

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TCI rejects gov't guidance to drop investment plan for J-Power

TOKYO, Japan - John Ho, head of The Children's Investment Fund's Asian operations, speaks at a press conference in Tokyo on April 25. The British hedge fund, known as TCI, rejected the same day the Japanese government's recommendation that it retract its plan to acquire a larger stake in Electric Power Development Co., Japan's largest power wholesaler.

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TCI builds up pressure on J-Power to raise corporate value

TOKYO, Japan - John Ho, head of The Children's Investment Fund's Asian operations, speaks about the fund's shareholder proposals to Electric Power Development Co. at a news conference in Tokyo on April 17.

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Gov't asks British fund to drop plan to raise stake in J-Power

TOKYO, Japan - John Ho, head of The Children's Investment Fund's Asian operations, speaks at a news conference in Tokyo on April 16 after the Japanese government asked the British hedge fund to drop its plan to acquire a larger stake in Electric Power Development Co., citing energy security concerns.

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Japan vows fresh contribution to ADB's antipoverty fund

SHANGHAI, China - A screen at an annual meeting of the Asian Development Bank in Shanghai projects an address by Japan's Finance Minister Masajuro Shiokawa on May 11. Shiokawa pledged an additional contribution of 7.08 billion yen (about $50 million) to an ADB fund to help eradicate poverty in the Asia-Pacific region.

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Donor nations open confab on aid to Cambodia

TOKYO, Japan - Donor nations begin a two-day conference in Tokyo on June 12 to discuss aid to Cambodia that is expected to result in an agreement to provide the war-torn nation with about $500 million. The World Bank-sponsored conference, the third of its kind held in Japan, involves Japan, the United States, 14 other donor countries and seven international agencies, including the International Monetary Fund and the Asian Development Bank.

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Japan to take lead in ADF replenishment

Japan vows May 1 to ''take the lead'' in efforts to replenish the Asian Development Bank's dwindling concessional loan window -- the Asian Development Fund (ADF). ''Japan is determined to take the lead in fulfilling its obligation,'' Japanese Finance Minister Kiichi Miyazawa told a news conference in Manila. ''Japan is willing to shoulder a considerable portion of the projected 6.3 billion dollar ADF, which is to cover a four-year period from 2000.''

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Gov't asks British fund to drop plan to raise stake in J-Power

TOKYO, Japan - John Ho, head of The Children's Investment Fund's Asian operations, speaks at a news conference in Tokyo on April 16 after the Japanese government asked the British hedge fund to drop its plan to acquire a larger stake in Electric Power Development Co., citing energy security concerns. (Kyodo)

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TCI rejects gov't guidance to drop investment plan for J-Power

TOKYO, Japan - John Ho, head of The Children's Investment Fund's Asian operations, speaks at a press conference in Tokyo on April 25. The British hedge fund, known as TCI, rejected the same day the Japanese government's recommendation that it retract its plan to acquire a larger stake in Electric Power Development Co., Japan's largest power wholesaler. (Kyodo)

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Donor nations open confab on aid to Cambodia

TOKYO, Japan - Donor nations begin a two-day conference in Tokyo on June 12 to discuss aid to Cambodia that is expected to result in an agreement to provide the war-torn nation with about $500 million. The World Bank-sponsored conference, the third of its kind held in Japan, involves Japan, the United States, 14 other donor countries and seven international agencies, including the International Monetary Fund and the Asian Development Bank.

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ADB to set up new fund to help developing countries

BALI, Indonesia - Asian Development Bank President Haruhiko Kuroda speaks at a news conference at the resort town of Nusa Dua on Bali Island on May 2. Kuroda said the bank plans to set up a $3 billon fund to help developing countries cope with the global financial crisis. (Kyodo)

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Japan vows commitment to ADB fund

MANILA, Philippines - Japanese Finance Minister Jun Azumi speaks at an annual meeting of the Asian Development Bank in Manila on May 4, 2012. Azumi vowed Japan's strong commitment to the ADB's low-interest fund to help Asia's poorest, by offering to provide 35 percent, or around 157.1 billion yen ($1.96 billion), of a record-high increase of the fund over four years from 2013. (Kyodo)

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ADB President Kuroda in Manila

MANILA, Philippines - Asian Development Bank President Haruhiko Kuroda holds a press conference in Manila on May 2, 2012. Kuroda said the bank has secured $12.4 billion to help Asia's poorest over the next four-year phase of its concessional development fund. (Kyodo)

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ADB eyes beefing up fund for low-income nations

MANILA, Philippines - Asian Development Bank President Haruhiko Kuroda speaks during a press conference at the head office of the ADB in Manila on April 27, 2012. Kuroda said the ADB plans to increase its fund for assisting low-income nations in the Asia-Pacific region with low-interest loans by a record $12 billion over four years from 2013 (Kyodo)

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Japan pledges $40 mil. to ADB fund for infrastructure development

Japanese Finance Minister Taro Aso (C) delivers a speech at an annual gathering of the Asian Development Bank, in Yokohama near Tokyo on May 6, 2017. (Kyodo) ==Kyodo

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Japan vows fresh contribution to ADB's antipoverty fund

SHANGHAI, China - A screen at an annual meeting of the Asian Development Bank in Shanghai projects an address by Japan's Finance Minister Masajuro Shiokawa on May 11. Shiokawa pledged an additional contribution of 7.08 billion yen (about $50 million) to an ADB fund to help eradicate poverty in the Asia-Pacific region.

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Japan to take lead in ADF replenishment

Japan vows May 1 to ''take the lead'' in efforts to replenish the Asian Development Bank's dwindling concessional loan window -- the Asian Development Fund (ADF). ''Japan is determined to take the lead in fulfilling its obligation,'' Japanese Finance Minister Kiichi Miyazawa told a news conference in Manila. ''Japan is willing to shoulder a considerable portion of the projected 6.3 billion dollar ADF, which is to cover a four-year period from 2000.'' ==Kyodo