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|BEIJING， Oct. 25 (Xinhua) -- Beijing's transport authority on Tuesday said that the city will limit the number of cars on road to 6.3 million in 2020， as part of efforts to reduce traffic congestion.
According to Beijing Municipal Commission of Transport， the number of new license plates available to registered drivers， currently handled through a monthly lottery， will be reduced from the current 150，000 a year to 100，000 in 2018.
The total number of cars on road in Beijing was 5.62 million by the end of 2015.
The city has seen car numbers grow by 303 percent from 1998 to 2013， with many major roads plagued by severe congestion.
Since 2004， the city has adopted a set of measures to solve the problem， such as introducing a plate lottery， encouraging the use of public transport， and using traffic control based on license plate numbers.
HELSINKI Women's Tyus Bowser Jersey , Aug. 25 (Xinhua) -- The Finnish customs laboratories have discovered traces of degraded fipronil in egg based products imported to Finland, national broadcaster Yle reported on Friday.
Fipronil contaminated eggs caused a Europe wide scare earlier this summer. Such eggs were not imported to Finland, but the customs started surveillance of egg based food products imported to Finland.
Low level of fiprofen, a degraded form of fipronil, was found in a bakery product and a mayonnaise. The customs did not disclose the country of origin.
Tests have been targeting at bakery products from Estonia Women's Marlon Humphrey Jersey , Sweden, France and Britain, and at mayonnaise from Sweden, Germany and Latvia.
As the level was low, Finnish customs defined the products as being in compliance with the ordinances.
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by Bedah Mengo
NAIROBI, Aug. 22 (Xinhua) -- Interest rates offered on customer savings by commercial banks in Kenya have doubled since the East African nation introduced a law to cap lending charges.
The law limited the maximum interest rate to be charged on a loan to no more than 4 percentage points above the Central Bank of Kenya (CBK) benchmark rate, currently standing at 10 percent.
It further placed the minimum amount of interest to be paid for bank deposits at 70 percent of the CBK rate Michael Pierce Jersey , which means Kenyans are to get an average of 7 percent on their savings.
Since the law was enacted in September, new data from the Central Bank showed Tuesday that the saving rate has been on a steady rise.
Before the enactment of the law, interest rate on savings stood at 1.6 percent but rose sharply to 3.8 percent in September before surging to 6.4 percent in December last year.
Since January, the CBK data indicated that the savings rate has stood at an average of 6 percent enabling customers to earn more.
However, while that is the average Austin Howard Jersey , some banks are offering up to 8.5 percent, in particular, on fixed deposit accounts in bid to lure customers to their sides.
The rates have, therefore, opened a battlefront among the lenders as they compete to attract people to keep their money for them Ryan Jensen Jersey , especially in the long term.
"Lock your savings for a minimum period of six months and a maximum of five years. The minimum opening balance is set at 10 U.S. dollars," said Kenya Commercial Bank, which is among the financial institutions seeking to attract customers to their side with the higher rates.
The bank further spices the deal by allowing customers to borrow up to 100 percent of their saving in the account and get a life insurance policy, which secures the money saved in case of inability to progress with deposits.
Other banks, on the other hand James Hurst Jersey , allow one to negotiate interest upwards depending on the amount of money they will save with the bank.
"What is needed is to save at least 1,000 dollars every month and one will be assured of up to 8 percent interest rate on savings," according to Barclays Bank.
And in bid to attract more customers, the banks have segmented their products further, with some offering savings accounts for instance for business persons Brandon Carr Jersey , investment clubs and educational institutions.
"My bank is giving me 7 percent on my fixed deposit account which also comes with being a member of a business club, where we attend seminars and it even helps us organize for trips abroad, which is a nice thing. As long as you lock up certain amount of money for at least two years, you enjoy the benefits," said Benjamin Simbo Tony Jefferson Jersey , an auditor in Nairobi said Tuesday.
Kenya is working to realize the 30 per cent annual Gross National Savings to Gross Domestic Product rate necessary to boost economic growth rate.
The International Monetary Fund in 2015 put the East African nation's Gross National Savings at 12.7 per cent of the GDP and forecasted that in 2016 the rate was to hit 16 percent.
In March, Kenya government introduced trading of Treasury bonds via mobile phone targeting small savers.
"The objective is to deepen access to government debt allowing users to save and invest, through an affordable minimum subscription fee of 30 dollars," said Treasury Cabinet Secretary Henry Rotich recently.
Kenya's savings culture is low, but according to Henry Wandera Danny Woodhead Jersey , an economics lecturer in Nairobi, it can be stimulated by commercial banks and government through various incentives that include offering high interest rates.
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