East Timor approves measure to join global financial institutions upon independence

The plan put forward by the Ministry of Finance and approved by the Council of Ministers would enable East Timor to join the World Bank, the International Monetary Fund and the Asian Development Bank after achieving statehood on 20 May, according to the UN Transitional Administration (UNTAET).The Council also approved a new organizational structure of the Second Transitional Government, a $19.2 million assistance package from Japan for various public works projects, and a proposal to increase the health ministry’s ability to provide international-standard mental health services over the next three years.In other action, the Ministers endorsed a foreign affairs package that included a recommendation that several agreements signed by UNTAET/East Timor and Indonesia would remain valid until new accords were negotiated and signed.Among the agreements are those that cover the movement of people and goods between East Timor and the Oecussi enclave, which is located in Indonesian West Timor; the Joint Border Commission; postal services; the Indonesian rupiah; and pension payments to former East Timorese who served in the Indonesian civil service, police and military. read more

Stockholm orders 96 newgeneration Movia transit vehicles from Bombardier

Stockholm orders 96 new-generation Movia transit vehicles from Bombardier by The Canadian Press Posted Jun 6, 2013 9:26 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email MONTREAL – Bombardier Inc.’s rail division has won a US$771-million order from the Stockholm Public Transport Authority.The Swedish transit system has ordered 96 Movia driverless vehicles from the Montreal-based company (TSX:BBD.B) and has options for 80 more vehicles.It said deliveries of the new fleet of four-car rail vehicles will begin in November 2016 and carry its first passengers in early 2017.Bombardier says the Movia C30 model that Stockholm has ordered has advanced technical features to improve energy efficiency and reduce maintenance costs.Stockholm’s transit system currently operates Bombardier’s older C20 series metro cars.The new vehicles will be deployed along a rail line connecting Stockholm’s north-eastern and south-western suburbs directly with the city centre.Bombardier Transport announced the deal from its headquarters in Berlin. read more