Burmese media say the government has asked the International Monetary Fund to help it reform a complex foreign exchange system that has become a barrier to economic growth. IMF officials confirmed to Reuters news agency this week that a team will travel to Burma in the second half of October to assist in the reforms. […]
Burma Seeks IMF Help to Modernize Currency Exchange System
Posted August 9th, 2011 at 7:05 am (UTC-5)
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Asian Markets Mostly Lower
Posted August 9th, 2011 at 7:00 am (UTC-5)
Asian stock markets closed mostly lower Tuesday. Japan’s Nikkei index was down 1.68 percent to close at 8,944. Hong Kong’s Hang Seng index slumped 5.66 percent to end at 19,331. Elsewhere, markets closed lower in Manila, Wellington, Jakarta, Bangkok, Kuala Lumpur, Mumbai, Seoul, Taipei and Shanghai. The market in Sydney closed higher, while the Singapore […]
British PM Recalls Parliament to Deal With Riots
Posted August 9th, 2011 at 6:55 am (UTC-5)
British Prime Minister David Cameron has recalled Parliament from its summer recess to deal with the crisis related to three days of rioting in London and other parts of the country Mr. Cameron cut short a vacation in Italy and rushed back to London to deal with some of the city’s worst rioting in years. […]
Burmese Lawmakers Back Government Peace Efforts, Warn Against Disunity
Posted August 9th, 2011 at 6:50 am (UTC-5)
An open letter from 23 Burmese legislators urges everyone interested in ending the nation’s ethnic conflicts to avoid actions that could undermine the country’s unity. The letter, published in state media Tuesday, comes less than two weeks after an open letter from pro-democracy leader Aung San Suu Kyi, which appealed for the government and ethnic […]
Cargo Planes Crashes in Russia
Posted August 9th, 2011 at 6:35 am (UTC-5)
A cargo plane crashed Tuesday in Russia’s far northeastern region of Siberia, in Kolyma, killing 11 people. Reuters news agency says the aircraft was a Soviet era Antonov-12 cargo plane that was trying to make an emergency landing when it went down. The cargo plane was heading to the northeastern town of Chukotka when it […]
Asian, European, Markets Fall, Await Fed Action
Posted August 9th, 2011 at 6:20 am (UTC-5)
Asian and European markets are lower Tuesday as investors react to an unprecedented downgrade of the U.S. government’s credit rating and lingering concerns about European debt problems and global economic growth. Japan’s Nikkei index closed 1.68 percent lower Tuesday, recovering from a more than 4 percent drop earlier in the session. Analysts said some buyers […]
Burma Seeks IMF Help to Modernize Currency Exchange System
Posted August 9th, 2011 at 6:10 am (UTC-5)
Burma’s state-controlled media say the government has asked the International Monetary Fund to help it reform a complex foreign exchange system that has become a barrier to economic growth. IMF officials confirmed to Reuters news agency this week that a team will travel to Burma in the second half of October to assist in the […]
US House of Representatives Ending Page Program
Posted August 9th, 2011 at 6:05 am (UTC-5)
The U.S. House of Representatives is ending a nearly 200-year-old program that gave high school students the opportunity to work in Congress for several months. Republican House Speaker John Boehner and Minority leader, Democrat Nancy Pelosi, say the page program will close at the end of this month. They cited the program’s $5 million yearly […]
UN Agency Says Floods Damaged Key North Korean Croplands
Posted August 9th, 2011 at 5:35 am (UTC-5)
A United Nations agency says heavy flooding in North Korea last month struck the nation’s most important grain growing area, likely aggravating already severe food shortages. The Food and Agriculture Organization said Tuesday that almost 60,000 hectares of cropland were affected by the flooding in the second and third weeks of July. It said there […]
UN Chief Urges Bigger Global Role for South Korea
Posted August 9th, 2011 at 5:20 am (UTC-5)
U.N. Secretary General Ban Ki-moon is urging South Korea to play a larger role in world affairs. The United Nations chief arrived in Seoul on Tuesday for his first visit to his homeland since being elected to a second five-year term. He will meet with President Lee Myung-bak and other top officials, and visit his […]
