Brazil’s inflation woes

SAO PAULO: Brazil’s president assured investors on Wednesday that there would be no return to the persistent double-digit inflation of the nation’s past, despite a change of finance ministers. President Luiz Inacio Lula da Silva made the remarks to Italian and Brazilian investors a day after the resignation of his finance minister prompted steep declines for Brazilian stocks and the value of the country’s currency, the real. — AP

Swiss economy up

BERN: Switzerland’s economy is forecast to grow by two per cent this year, slightly higher than expected. The economic ministry had revised its earlier prediction of 1.8 per cent growth in GDP because of a “consolidated” economic climate. “Growth should also continue in 2007, although the rhythm is likely to slow down somewhat because of a less favourable international and monetary climate,” the ministry said. — AFP

New project chief

MOSCOW: Former German chancellor Gerhard Schroeder on Thursday was appointed chairman of the consortium building a strategically vital gas pipeline linking Russia’s vast reserves with German markets. Schroeder joined executives from the Russian and Germany energy giants OAO Gazprom, BASF AG and E.On AG in Moscow for an inaugural . Gazprom CEO Alexei Miller announced the appointment. — AP