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China unveils $570-billion stimulus package
To offset financial crisis by boosting domestic demand
Plan worth 7% of China’s GDP
SHANGHAI: China’s announcement of the stimulus plan on Sunday is an effort to revive a slumping domestic market amid concerns that the economy has been worse affected by the global financial crisis than previously expected. Some ...
World Bank, U.S. hail plan
SAO PAULO : The World Bank, the U.S. and Brazil have hailed the Chinese bailout plan as it could benefit other nations in the aftermath of the global crisis, said David McCormick, U.S. Treasury Department’s Undersecretary ...
Lay down arms, LTTE told
COLOMBO: Sri Lanka on Monday reiterated that a ceasefire with the LTTE could be considered only if the Tigers were ready to lay down arms and agree to sit across the negotiating table along with other stakeholders. The government stated ...
Gas leak caused submarine accident
MOSCOW: Preliminary investigation into the gas poisoning aboard a Russian nuclear submarine that killed 20 people on Saturday confirmed initial reports that the accident was caused by malfunctioning in the fire suppression system. The ...
Ansari hails smooth transition in Maldives
MALE: Vice-President Hamid Ansari, who arrived here on Monday to attend the swearing-in ceremony of Mohammed Nasheed, the President of the Republic of Maldives, praised the conduct of a democratic election that elevated Mr. Nasheed to the top ...
Disputed drilling rig sparks tension
DHAKA: Bangladesh has said Myanmar has started removing an oil and gas rig from the Bay of Bengal, well within Bangladesh’s territorial water, as diplomatic efforts began to show results. The announcement came as Bangladesh moved ...
Paparazzo denies blackmail plot
Rome: An Italian photographer on trial for blackmailing celebrities with compromising snaps has been thrown a lifeline by his most illustrious alleged victim, Barbara Berlusconi, daughter of the Italian Prime Minister. Fabrizio Corona, ...
31 die in Baghdad blasts
BAGHDAD: A suicide bomber struck on Monday in a crowd that had gathered where an explosion moments earlier damaged a bus full of schoolgirls, with both blasts killing at least 31 people and wounding 71 others, said officials. Also ...
Hurricane Paloma ravages central Cuba
SANTA CRUZ DEL SUR (Cuba): Cubans returned to homes demolished by Hurricane Paloma even as the once-powerful storm dissipated off the coast on Monday. The hurricane washed out fishing villages, ripped the roofs off factories and ravaged ...
Internet faces data overload threat
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