Australia:The Queensland government has announced A$184m of funding to double-track the 7 km Ormeau - Coomera section of the Gold Coast line used by QR Citytrain, and extend the dual gauge by 9·5 km from Salisbury to Kuraby. A further A$63m has been allocated for additional trainsets.

China:Asian Development Bank has approved loans totalling US$500m for construction of a 377 km link between Yichang and Wanzhou by 2009. The remainder of the US$2·36bn cost of the project will be funded by the Ministry of Railways and the State Development Bank.

Europe:Compared with 2002, in 2003 Eurofima’s net interest income fell 17·4% to SFr42·8m, and commissions income 1·6% to SFr15·1m. Income from other financial operations rose 251·5% to SFr10·2m, and total operating costs decreased 1·0% to SFr7·8m.

Romania:The US Trade & Development Agency has awarded a US$250000 grant to fund a study by Seneca Group for the implementation of positive train control to increase network capacity.

Vietnam:China has signed a framework agreement to provide a 530m yuan soft loan to modernise signalling on the lines radiating from Hanoi to Lao Cai, Dong Dang and Thai Nguyen.