The SETI institute, which has spent the last 50 years searching for the radio signals from aliens, is facing a cash crunch. The institute has been working to find electromagnetic transmissions from intelligent life forms from other planets.
Brussels -- Billions of dollars in funding intended to help small businesses in Europe were held up by banks, a watchdog group said Wednesday.
European Union finance ministers approved the $20 billion aid for small businesses as credit began to dry up in 2008, the EUobserver reported.
But a watchdog group, Bankwatch, based in the Czech Republic, said the European Investment Bank has only handed out 74 percent of the funds to commercial banks and that only 69 percent of what was disbursed was distributed through small business loans.
Commercial banks, the figures indicate, held onto half of the $20 billion funds that targeted small businesses.
In the aftermath of the financial crisis in 2008, big financial institutions have turned out to be the biggest winners from the government's responses to the mortgage meltdown. But savvy investors are discovering ways to reap their own profits from the government's policies, even in areas that few investors truly understand.
Beijing -- The Chinese government said it released $19 billion in new funding from the $570 billion stimulus package passed in November.
The National Development and Reform Commission didn't reveal where the funds would be spent but newspaper reports said the funds would go to low-income housing, pubic infrastructure projects, health and education and environmental projects, Xinhua reported Tuesday.
China spent about $14 billion from the stimulus bill in the fourth quarter.
Economic growth fell to 6.8 percent in the final quarter of 2008. For the year, economic growth in China slowed to 9 percent, Xinhua reported.
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