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US Removes North Korea From Terror List
WASHINGTON - The United States Saturday removed North Korea from its list of state sponsors of terrorism in exchange for a verification plan allowing the U.S. and other parties to monitor the communist country’s nuclear disarmament.
The U.S. State Department announced details of the agreement this Saturday morning following a day of intensified discussions between the [...]
President Bush: Top Economic Powers Will Cooperate
WASHINGTON - U.S. President George Bush has emerged from a White House meeting with the world’s top economic powers, saying they have agreed to work together to restore stability and growth to the global economy.
Mr. Bush made the remarks Saturday after meeting with finance ministers who are in Washington D.C. for a gathering of Group [...]
Oil Workers in Nigeria to Strike
ABUJA - Oil workers in Nigeria say they will embark on an indefinite strike if the government fails to reverse the sale of two state-owned oil and gas companies within two weeks. The government says privatizing the two companies will make them more efficient and profit-driven.
The Petroleum and Natural Gas Senior Staff Association and [...]
President Bush Confident of Financial Rescue Plan
WASHINGTON - As world stock prices continue falling, U.S. President George Bush is trying to reassure Americans and people around the world that his government is doing everything in its power to address the economic crisis.
President Bush says the U.S. financial rescue plan will, in time, put the nation’s economy back on its feet.
“The plan [...]
Libya Makes Payments to Terrorism Victims Fund
STATE DEPARTMENT - The State Department said Thursday Libya has made a substantial initial payment into a U.S.-administered fund to settle remaining claims from Libyan-inspired acts of terrorism. The settlement plan would clear the way to fully-normalized U.S.-Libyan relations.
Officials are not saying just how much the Libyan payment was, but they do say that it [...]
Arab Stock Markets Continue to Plummet
BEIRUT - Investors in the Arabian Gulf and elsewhere across the Arab world continued to panic, causing stock exchanges from Dubai to Riyadh to Cairo to plunge amid falling oil prices and fears of a real estate bust in the Gulf.
Traders and investors across the Gulf and the rest of the Arab world stared at [...]
President Bush Signs India Nuclear Trade Deal
WASHINGTON - President Bush has signed legislation that paves the way for civilian nuclear trade between the United States and India.
The legislation ends a 34-year ban on nuclear trade between the two countries. It allows the United States to share civilian nuclear technology and materials with India. For its part, New Delhi is promising to [...]
Britain Moves to Nationalize Major Banks
LONDON - Britain announced Wednesday a huge, comprehensive government plan that will pump nearly $90 billion of taxypayers’ money into the British banking system to shore it up.
The British government has moved in to partially nationalize all of the major banks in Britain.
$87.5 billion of taxpayer funds will be invested by the Treasury department into [...]
US, European Central Banks Cut Interest Rates
LONDON - U.S. and European central banks have in unison cut their interest rates by half a percentage point. The coordinated move is aimed at bringing some stability back to the shaky global economy and slumping stock markets.
The half-a-point lending rate cut was coordinated between the U.S. Federal Reserve, the European Central Bank, and the [...]
Asia Stock Markets Plummet
JAKARTA - Indonesia’s stock index plummeted more than 10 percent in one of the worst days of trading ever seen in Asia. In Tokyo, the key index closed more than nine-percent lower, the worst trading day since the global stock market crash in 1987.
Asia’s share markets plunged Wednesday.
In Indonesia, the key stock index in Southeast [...]
