Malaysian officials say rescuers have recovered the bodies of seven people who were buried in a landslide at a popular hill resort Sunday. The official Bernama news agency said Monday that two other people were seriously hurt in the landslide at the Sungai Ruil settlement, more than 200 kilometers north of Kuala Lumpur, Malaysia’s capital. […]
Australian Judge Delays First Refugee Transfer to Malaysia
Posted August 7th, 2011 at 11:40 pm (UTC-5)
Monday’s transfer of a first group of asylum seekers from Australia to Malaysia has been delayed to allow a court to consider a last-minute challenge to the refugee swap. A High Court judge in Melbourne ruled late Sunday that the transfer cannot go forward before late afternoon. That will permit another judge in Canberra to […]
Fighting at Site of US Helicopter Crash in Central Afghanistan Continues
Posted August 7th, 2011 at 11:40 pm (UTC-5)
Afghan and U.S. forces battled insurgents in central Wardak province Sunday, near the site where a U.S. Army helicopter went down a day earlier, killing 30 U.S. troops, including special force Navy SEALs. Seven Afghan commandos and an interpreter also died in the crash. The fighting was ongoing as NATO teams tried to recover the […]
S&P Sees No Immediate Danger of Downgrading Asian Economies
Posted August 7th, 2011 at 11:10 pm (UTC-5)
Credit rating agency Standard and Poor’s assured global investors Monday that its historic downgrade of the U.S. credit rating would have no immediate impact on Asia-Pacific sovereign ratings, but could have a negative impact in the long run. S&P lowered its rating for U.S. government debt on Friday to AA+ from AAA . In a […]
Major Asian Markets Lower After S&P Cuts
Posted August 7th, 2011 at 10:25 pm (UTC-5)
Global markets are having a negative reaction to Friday’s downgrade of the U.S. credit rating by the Standard & Poors rating agency. Major indexes in Tokyo, Hong Kong, Seoul and Sydney were down between 1 percent and 3 percent in early trading Monday. Stock futures in New York also were lower ahead of the opening […]
Report: South Korean Security Adviser Heads for US
Posted August 7th, 2011 at 10:05 pm (UTC-5)
A South Korean news report says the country’s top presidential security adviser is likely to travel to the United states this week to discuss the future of international talks on North Korean nuclear disarmament. The Yonhap news agency says Chun Yung-woo is expected to depart for Washington Monday at the invitation of Tom Donilon, his […]
Major Asian Markets Lower After S&P Cuts
Posted August 7th, 2011 at 9:00 pm (UTC-5)
Global markets are having a negative reaction to Friday’s downgrade of the U.S. credit rating by the Standard & Poors rating agency. Major Asian indexes in Tokyo, Seoul and Sydney were all down more than 1 percent shortly after Monday morning’s opening. Stock futures in New York also were lower ahead of the opening on […]
European Central Bank to Ease Debt Crisis
Posted August 7th, 2011 at 8:55 pm (UTC-5)
The European Central Bank has announced that it will buy government bonds from Italy and Spain, in an effort to calm market fears about the euro zone debt crisis. In a statement issued Sunday, the bank welcomed plans by Italy and Spain for economic reforms and debt-reducing measures, and it urged their speedy implementation. Central […]
Hamas, Fatah Reach Agreement on Prisoner Exchange
Posted August 7th, 2011 at 8:50 pm (UTC-5)
Rival Palestinian groups Fatah and Hamas have agreed to a mutual political prisoner exchange in the Gaza Strip and West Bank, resolving one of several issues hindering the formation of a unity government. They reached an agreement during negotiations ending Sunday in Cairo. Egypt’s MENA news agency quoted Fatah Central Committee member Azzam al-Ahmad as […]
Geithner: S&P Showed ‘Terrible Judgement’ in Cutting US Credit Rating
Posted August 7th, 2011 at 7:50 pm (UTC-5)
U.S. Treasury Secretary Timothy Geithner says the Standard & Poor’s credit rating agency used “terrible judgment” when it downgraded the U.S. rating last week. Geithner tells CNBC television that the S&P showed a “stunning lack of knowledge” about the mathematics used to draw up a federal budget. All eyes are now on global markets to […]
