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Industry Group Predicts Plunge in Airline Profits

Posted June 6th, 2011 at 3:00 am (UTC-5)
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An international industry group predicts that airline profits will plummet this year because of natural disasters, political violence and higher fuel prices. At its annual meeting in Singapore Monday, the International Air Transport Association said airlines will probably earn only $4 billion in 2011, down from $18 billion last year. IATA Director-General Giovanni Bisignani said […]

Kan Resignation Battle Threatens Japanese Reconstruction Bills

Posted June 6th, 2011 at 2:30 am (UTC-5)
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Crucial legislation to finance Japan’s post-earthquake reconstruction is at risk amid a political struggle over the timing of Prime Minister Naoto Kan’s planned resignation. Leaders of Mr. Kan’s Democratic Party of Japan said after talks with the prime minister Sunday that Mr. Kan wants to remain in office long enough to try to push the […]

Tags: , , , Posted in East Asia Pacific

Tokyo Markets Down, Dollar Flat

Posted June 6th, 2011 at 2:20 am (UTC-5)
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Japanese share prices ended lower Monday, while the dollar was flat against the yen. Tokyo’s Nikkei index fell 1.2 percent to close at 9,380. In currency trading, the dollar was selling at 80.34 yen, unchanged from late Friday. The Taipei market gained six-tenths of a percent to close at 9,046

Thai Groups Secure Release of 94 Ahmadiyah Refugees

Posted June 6th, 2011 at 2:05 am (UTC-5)
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Authorities in Thailand have freed 96 members of a Muslim minority sect after almost six months in detention. The Ahmadiyah practitioners had fled from Pakistan, where the sect is persecuted, and all but two have been recognized as refugees by the United Nations. The group, which includes 34 children below the age of 12, were […]

Heat Top Mavericks for 2-1 NBA Finals Lead

Posted June 6th, 2011 at 1:55 am (UTC-5)
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The Miami Heat held on to win game three of the National Basketball Association championship series 88-86 Sunday, as Dallas Mavericks star Dirk Nowitzki missed a potential game-tying shot as time expired. The visiting Heat narrowly avoided blowing a double-digit lead for a second consecutive game, and now lead the best-of-seven series two games to […]

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Nigerian Lawmaker Arrested on Corruption Charges

Posted June 6th, 2011 at 1:40 am (UTC-5)
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Nigeria’s anti-corruption agency has arrested the outgoing speaker of the House of Representatives on fraud allegations. An agency spokesman said Dimeji Bankole was detained Sunday and will remain in custody to answer questions on the charges against him. Bankole was arrested at his home in the capital, Abuja.

Tags: , Posted in Africa

Anwar Ibrahim’s Testimony Postponed in Malaysian Sodomy Trial

Posted June 6th, 2011 at 1:40 am (UTC-5)
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A judge on Monday postponed Anwar Ibrahim’s testimony in the Malaysian opposition leader’s long-running sodomy trial, amid legal arguments over whether the judge should be removed from the case. High Court judge Zabidin Mohamed Diah rejected arguments from Anwar’s lawyers that he should step down because he has demonstrated bias in the case. However, the […]

Tags: , Posted in East Asia Pacific

Humala Claims Victory in Peru Runoff

Posted June 6th, 2011 at 1:35 am (UTC-5)
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Former Peruvian army officer Ollanta Humala claimed victory late Sunday in Peru’s tightly-contested presidential runoff election, ahead of a complete count of official results. Partial results gave Humala a razor-thin lead over Keiko Fujimori, the daughter of imprisoned former president Alberto Fujimori. A count of selected ballots found Humala leading with 51.5 percent of the […]

Tags: , Posted in Americas

South Korea Urges North Korea to Avoid Confrontation and Conflict

Posted June 6th, 2011 at 1:10 am (UTC-5)
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South Korea’s president urged North Korea Monday to take the path of peace, after a series of threats and mounting harsh rhetoric by Pyongyang. In a Memorial Day speech at the National Cemetery, President Lee Myung-bak said that in return, South Korea would patiently continue to make sincere and consistent efforts for peace on the […]

IMF Agrees to $3 Billion Loan for Egypt

Posted June 6th, 2011 at 12:55 am (UTC-5)
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The International Monetary Fund has agreed to lend Egypt $3 billion in a one-year program designed to help stabilize the country’s economy and drive growth. The IMF outlined the deal Sunday, saying it will help generate jobs, assist low-income households and create a more competitive business environment with a focus on small and medium companies. […]

Tags: , Posted in Middle East