• BRAZIL AUDIT SHOWS RIO GAMES PREPARATIONS OFF TARGET

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    RIO DE JANEIRO: An audit into the finances of the 2016 Rio Olympics shows preparations are behind schedule with earmarked state cash largely unspent, Brazilian press reported on Thursday (Friday in Manila). The Brazilian sports ministry has set aside a budget of 1.6 billion raise ($712 million) towards the staging of South America’s first Olympics and the Paralympics thereafter.

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