U.S. court lets stand Ex-Im Bank loan for Air India

WASHINGTON, June 18 Tue Jun 18, 2013 1:36pm EDT

WASHINGTON, June 18 (Reuters) - A U.S. appeals court on Tuesday let stand a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Air India in a legal challenge brought by Delta Air Lines.

"I am gratified by the court's recognition that these transactions should not be impeded by litigation," Fred Hochberg, chairman and president of Ex-Im Bank, said in a statement after the ruling.

However, the court directed the government-run bank to better explain its rationale for the loans, which Delta claimed as a victory in its long-running spat with Ex-Im Bank.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.