Canadian Dollar Climbs to 30-Year High as Inflation Exceeds Bank's Target

(Bloomberg) -- The Canadian dollar rose to the
strongest in 30 years as the nation's central bank said
inflation will remain above its target, and as crude oil rose to
an 11-month high.

The currency gained a fourth straight week versus its U.S.
counterpart after the Bank of Canada increased the benchmark
overnight rate for the first time in more than a year. The
central bank also said inflation will peak at 3 percent in the
fourth quarter and will take a half-year longer than expected to
slow to the 2 percent target.


Read more at Bloomberg Currencies News

World Bank panel probing West Africa gas pipeline

(Reuters) - A World Bank panel is probing possible violations of bank procedures around its funding for the West African Gas Pipeline operated by Chevron Corp..

Washington-based environmental group Friends of the Earth said on Friday the investigation by the bank's Inspection Panel will officially begin on July 15.


Read more at Reuters Africa