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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

OECD predicts 'stronger growth' in world's major economies this year

Friday - Mar 29, 2013, 02:41pm (GMT+5.5)
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London - The Organisation for Economic Co-operation and Development (OECD) has predicted that the world's major economies will see stronger growth this year.

The organisation predicted stronger growth in the US, Japan and Germany, but said that Europe's recovery will continue to be slow.

It also said concerns remained over the recovery of the wider eurozone, the BBC reports.

According to the report, the firm said governments would need to keep special measures in place to boost economic growth.

Overall, the OECD forecast an average annualised growth of 2.4 percent among the seven biggest economies in the first quarter of this year.

But the organisation paints a picture of contrasting fortunes in Europe, where German growth is expected to be relatively strong, while France and Italy are expected to stay in recession until at least the second quarter of the year, the report said.

Italy is expected to perform the worst among the seven economies covered, which do not include China, it added.


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