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World Bank Links Obesity to High Food Prices

Food prices have dropped since peaking six months ago but remain near record levels, pushing the world's poorest people toward "undernutrition" and obesity, the World Bank said Thursday.

"Unhealthy food tends to be cheaper than healthy ones, like junk food in developed countries," said Otaviano Canuto, World Bank Group's vice president for poverty reduction and economic management.

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Stoic Cypriots Calm but Slam Europe as Banks Reopen

Patient Cypriots formed orderly queues and waited in the sun for their banks to reopen after nearly two cash-starved weeks, but many expressed anger at the island's European partners.

Despite fears of a bank run that led the island to impose harsh capital controls, some Cypriots were even depositing money instead of withdrawing it following the closure of the banks on March 16.

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Cyprus to Impose Tough Curbs to Stop Bank Run

Cyprus is to impose unprecedented money controls to avert a run on the island's shuttered banks when they reopen following a controversial international bailout, reports said Wednesday.

Newspapers said the temporary restrictions, in place for seven days, included bans on taking more than 3,000 euros ($3,900) of cash out of Mediterranean island and on cashing cheques.

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BRICS Fail to Make Progress on New Bank to Challenge West

Leaders from the BRICS group of emerging powers on Wednesday failed to launch a much-anticipated new development bank to rival Western-dominated institutions like the World Bank.

After holding talks in the port city of Durban, leaders from Brazil, Russia, India, China and hosts South Africa agreed in principle to create a joint infrastructure lender but said further talks were necessary to finalize the plan.

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Spain Raises 2012 Deficit Figure to Comply with EU Rules

Spain revised its public deficit figure for 2012 higher on Wednesday to 6.98 percent of economic output from the 6.74 percent figure it posted last month, to comply with a request by the EU's statistics office regarding Madrid's calculations of tax refund claims.

Prime Minister Mariano Rajoy's conservative government had promised the European Union that he would reduce Spain's public deficit to 6.3 percent of gross domestic product in 2012 from 9.4 percent of GDP the year before.

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Qantas, Emirates Tie-up Wins Final Approval

Australia's competition watchdog on Wednesday gave final approval for Qantas and Emirates to launch a "game-changing" global alliance, saying the tie-up will benefit passengers.

The decision by the Australian Competition and Consumer Commission, widely expected after a preliminary green light in December, allows the airlines to combine operations for five years.

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'Superhuman' Efforts Made to Open Cyprus Banks

"Superhuman" efforts are being made to reopen banks in Cyprus on Thursday, the central bank governor said, as protests and uncertainty over the island's top lender showed a huge bailout has not ended its troubles.

The comment, made by central bank governor Panicos Demetriades on Tuesday, came as hundreds of angry Bank of Cyprus workers demonstrated outside his office and thousands of students rallied against the EU-IMF rescue package.

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Jeep Takes a Radical New Turn with Cherokee

The Jeep Cherokee is back, with a surprising design that could win some new buyers but lose some old fans.

The 2014 Cherokee midsize SUV makes its debut Wednesday at the New York International Auto Show. The remake is so radical that observers might not realize it's a Jeep.

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Restaurant Trying New Pay-What-you-Want Experiment

Customers ordering a bowl of turkey chili at a St. Louis-area Panera Bread cafe can pay a penny, or $5, or $100. In other words, whatever they decide.

Three years after launching the first of five pay-what-you-want cafes, the suburban St. Louis-based chain on Wednesday is quietly beginning its latest charitable venture that takes the concept on a trial run to all 48 cafes in the St. Louis region.

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Bank of Cyprus Chairman Resigns

The chairman of the Bank of Cyprus has resigned in the wake of an international bailout deal that hits the island's biggest lender, state media reported on Tuesday.

The Cyprus News Agency said the bank's chairman Andreas Artemis had tendered his resignation and it would go before the board later in the day.

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