A report by the Asian Development Bank says the region’s rapid economic growth has created a widening income gap that threatens to undermine its growth and stability. In its annual economic development outlook, the Manila-based lender says Asia’s richest one percent of households account for six to eight percent of total income, while up to […]
Report: Rising Income Gap Threatening Stability in Asia
Greece Set for May 6 Election as Papademos Resigns
Greece’s technocrat prime minister, Lucas Papademos, is resigning Wednesday, setting the stage for the country’s first national election since the debt crisis engulfed the Athens government. Government officials said the election will be May 6, but the outcome is far from certain. Greeks have shown wide discontent with the country’s two main parties, the socialists […]
Large Earthquake Rumbles Off Indonesian Coast
Officials have canceled a tsunami watch in the Indian Ocean region, hours after an 8.6-magnitude earthquake struck off the northwestern coast of Indonesia. The quake hit Wednesday about 430 kilometers southwest of Banda Aceh, the provincial capital and largest city in the province of Aceh, at an estimated depth of 22 kilometers. An 8.2-magnitude aftershock […]
Sudan Official: No Talks With South Sudan
A top Sudanese official says Sudan is cutting off talks with South Sudan, as the sides clash in a disputed border region. State radio Wednesday quoted Vice President Al-Haj Adam Yusuf as saying there will be no talks with the south and that Sudan must protect its border. Sudan is accusing South Sudan of launching […]
Large Earthquake Rumbles Off Indonesian Coast
The U.S. Geological Survey says an 8.6-magnitude earthquake has struck off the northwestern coast of Indonesia, raising tsunami alerts in several countries around the Indian Ocean region. The quake hit about 430 kilometers southwest of Banda Aceh, the provincial capital and largest city in the province of Aceh, at an estimated depth of 22 kilometers. […]
Chinese Internet Reacts to Purge of Top Official
Heavy keyword censorship on Chinese microblogs did not stop Chinese Internet users from hotly debating the deepening scandal surrounding former high-profile politician Bo Xilai. Official dispatches announced Bo’s ouster and said his wife is under investigation for the murder of a British businessman. Wednesday, searches for those involved in the case produced no results on […]
Iran Says It Has New Initiatives for Nuclear Talks
Iran says it will present new initiatives at upcoming nuclear talks with world powers in Turkey, but warned that efforts by Western nations to exert pressure on Tehran would “backfire.” Iranian state media say chief nuclear negotiator Saeed Jalili announced the initiatives on Wednesday but did not specify his proposals. Jalili also said efforts to […]
Sudan Official: No Talks With South Sudan
A top Sudanese official says the country is cutting off talks with South Sudan, as the sides clash in a disputed border region. Sudanese state radio Wednesday quoted Vice President Al-Haj Adam Yusuf as saying there will be no talks with the south and that Sudan must protect its border. Sudan is accusing South Sudan […]
Magnitude 8.6 Earthquake Hits Off Indonesia Coast, Tsunami Alerts Issued
The U.S. Geological Survey says an 8.6-magnitude earthquake has struck off the northwestern coast of Indonesia, raising tsunami alerts throughout the Indian Ocean region. The quake hit about 430 kilometers southwest of Banda Aceh, the provincial capital and largest city in the province of Aceh, at an estimated depth of 22 kilometers. An 8.2-magnitude aftershock […]
South Korean Parliamentary Vote Too Close to Call
South Korea’s two main parties are locked in a close race for control of parliament that is seen as a preview of presidential elections later this year. Exit polls from Wednesday’s voting left analysts unable to predict whether President Lee Myung-bak’s ruling New Frontier party will hold onto its majority in parliament. Official results were […]