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China Again Raises Interest Rates to Fight Inflation

Posted July 6th, 2011 at 8:00 am (UTC-5)
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China has raised interest rates for a third time this year, in another effort to cool inflation that is surging at its fastest pace since 2008. The central bank said Tuesday it increased the benchmark rate paid for one-year deposits to 3.5 percent from 3.25 percent. The one-year lending rate will increase to 6.56 percent […]

European Stocks Lower in Midday Trading

Posted July 6th, 2011 at 7:30 am (UTC-5)
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European stock prices are lower in midday trading Wednesday. London’s Financial Times index is down nearly three-quarters of one percent. The CAC-40 in Paris is down one-half of one percent, and trading on the DAX index in Frankfurt is down more than one-quarter of one percent. In New York, the S&P futures contract is down […]

Tags: , , , Posted in Economy

Libyan Rebels Launch Assault Near Capital

Posted July 6th, 2011 at 7:15 am (UTC-5)
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Libyan rebels have launched an offensive in the mountains southwest of the capital, Tripoli, in an effort to move their front lines closer to Tripoli, Libyan leader Moammar Gadhafi’s stronghold. Rebels used heavy arms Wednesday to push into the al-Qawalish area, a government-held position near Tripoli. Witnesses said they could hear NATO warplanes overhead. The […]

Tags: Posted in Middle East

Pakistani Troops Clash with Militants in North Waziristan

Posted July 6th, 2011 at 7:10 am (UTC-5)
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Pakistani intelligence officials say troops backed by helicopters have killed at least four militants in a rare clash between the two sides in the country’s northwest tribal region. Officials say the battle broke out Wednesday in the town of Miranshah in North Waziristan after the militants attacked Pakistani soldiers. Five soldiers and five militants were […]

Tags: Posted in South Asia

British Parliment to Debate Tabloid Phone-Hacking

Posted July 6th, 2011 at 7:00 am (UTC-5)
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British lawmakers are holding an emergency debate Wednesday on a phone-hacking scandal involving the News of the World tabloid newspaper. The parliament session comes after officials said British investigators were contacting family members of victims of the July 7, 2005 London terror attacks to warn them their phones may have been hacked after the bombings. […]

Tags: , , Posted in Europe

Asia Markets Close Mixed

Posted July 6th, 2011 at 7:00 am (UTC-5)
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Major Asian stock markets closed mixed Wednesday. Tokyo’s Nikkei index gained more than one percent to finish at 10,082. Hong Kong’s Hang Seng index lost just over one percent to finish the day’s trading at 22,518. Share prices were higher in Kuala Lumpur, Seoul, Sydney and Taipei, but lower in Bangkok, Jakarta, Manila, Mumbai, Shanghai, […]

Tags: , Posted in Economy

Australia Lifts Ban on Live Cattle Shipments to Indonesia

Posted July 6th, 2011 at 6:40 am (UTC-5)
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Australia has lifted a nearly month-old ban on live cattle exports to Indonesia which was imposed over concerns about the treatment of the animals. Agriculture Minister Joe Ludwig announced the end of the ban Wednesday, expressing confidence that Indonesian slaughterhouses will meet Australian standards for humane practices. Ludwig says Australian beef exporters will now be […]

Cargo Plane Crashes North of Afghan Capital

Posted July 6th, 2011 at 6:35 am (UTC-5)
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Officials in Afghanistan say an Azerbaijani cargo plane with nine crew members on board has crashed into a mountain in eastern Afghanistan. The crash happened late Tuesday in the Sayagred area of Parwan province, north of the capital, Kabul, as the plane was traveling to Bagram air base. There was no immediate word on casualties, […]

Tags: , , , , Posted in South Asia

Rights Group: Syrian Crackdown on Protests May Be Crimes Against Humanity

Posted July 6th, 2011 at 6:15 am (UTC-5)
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Amnesty International says Syrian security forces may have committed crimes against humanity during a deadly operation last month in a town near the Lebanese border. The London-based rights group issued a report Wednesday accusing Syria of rounding up scores of male residents in Talkalakh and torturing most of them. It quotes witnesses that say at […]

Tags: Posted in Middle East

US, Chinese Oil Firms Face Heat Over Oil Spills

Posted July 6th, 2011 at 6:15 am (UTC-5)
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U.S. and Chinese oil companies are facing harsh criticism for their failure to disclose an oil spill off the eastern coast of China for almost a month. The environmental group Greenpeace said it is “disappointed” in the delays in reporting the spill, which has contaminated 840 square kilometers in Bohai Bay off the coast of […]