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Global and China Automotive Finance Industry Report, 2013

announced the successful acquisition of Shanghai Zhenlang Transportation Equipment Leasing Co., Ltd. to carry out the automotive rental and leasing business. Mercedes-Benz Financial is a subsidiary of Daimler Financial Services Group, and it has two business operations in China, namely, Mercedes-Benz Auto Finance Ltd. and Mercedes-Benz Leasing Co., Ltd. In 2011, Mercedes-Benz Financial covered nearly 400 cities and more than 200 dealers in China.

WB has agreed to finance Diamer-Bhasha dam: Dar

He said the government was able to convince the World Bank that it was not legally necessary to seek an NOC (no-objection certificate) from a neighbouring country to build a dam and that Pakistanas first priority was Diamer-Bhasha dam after which it would consider Dasu Dam. The World Bank has been reluctant to finance Diamer-Bhasha dam and had linked its willingness to an NOC from India a a condition unacceptable to Pakistan. The bank had, however, offered to provide financing for Dasu Dam to produce cheap hydropower. Responding to a question, Mr Dar said the ADB was appreciative of the economic reforms initiated by the new government and had aagreed to actively engage with Pakistana again after the adverse policies of the previous government that resulted in more flows to the ADB than into Pakistan. aI have taken up the Diamer-Bhasha issue with the ADB and its visiting vice president was very positive and promised to work proactively with Pakistana and become the lead finance manager for the project, he said.

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