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Germany’s Commerzbank Profits Plunge

Posted August 10th, 2011 at 2:25 am (UTC-5)
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Germany’s second largest lender Commerzbank said Wednesday its second quarter net profits plunged by 93 percent from the same period a year earlier. Commerzbank said its net income fell to $34.4 million after it revalued its holdings of Greek debt, resulting in a depreciation of more than $1 billion. The Greek government has asked bondholders […]

Tags: , , Posted in Economy, Europe

Chinese Aircraft Carrier Begins First Sea Trial

Posted August 10th, 2011 at 2:15 am (UTC-5)
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China’s first aircraft carrier steamed out of Dalian harbor for a sea trial Wednesday, providing a burst of national pride for China’s people but a source of concern for many of its neighbors. The short voyage by the refitted Ukrainian carrier ends weeks of speculation about the date of the vessel’s initial sea trial. A […]

Tags: , Posted in East Asia Pacific

Brazilian Bus Standoff Ends

Posted August 10th, 2011 at 1:40 am (UTC-5)
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Brazilian police say they negotiated an end Tuesday to a hostage situation with armed men onboard a bus in downtown Rio de Janeiro. Authorities say at least three hostages received gunshot wounds. There were no reported fatalities. Rio police could not confirm the number of gunmen involved in the standoff. A police officer said the […]

Tags: , Posted in Americas

Suspected U.S. Drone Strike Kills 20 in Pakistan

Posted August 10th, 2011 at 1:25 am (UTC-5)
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Pakistani intelligence officials say a U.S. drone strike has killed at least 20 militants in the tribal region along the Afghan border. The officials said the unmanned aircraft fired two missiles into a house Wednesday near the town of Miranshah in the North Waziristan region. U.S. officials do not publicly acknowledge the use of such […]

Tags: , , , Posted in South Asia

Vietnamese Dissident on Trial for Subversion

Posted August 10th, 2011 at 1:15 am (UTC-5)
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A French-Vietnamese activist is on trial in Vietnam on charges of subversion. Pham Minh Hoang is accused of “carrying out activities aimed at overthrowing the people’s administration.” Authorities say he posted several anti-government articles on the Internet, as well as having ties to Viet Tan, a pro-democracy group that is banned in Vietnam. Hoang’s wife […]

Record Exports Boost China to Large Trade Surplus

Posted August 10th, 2011 at 1:15 am (UTC-5)
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Rising exports have given China its largest trade surplus in two and a half years in spite of economic problems in much of the world. The government said Monday it posted a $31.5 billion surplus in July, driven by a record $175 billion in exports. That marked a 20.4 percent increase in exports over the […]

Reports: Pyongyang Assassination Plot Targets South Korean Defense Minister

Posted August 10th, 2011 at 12:50 am (UTC-5)
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South Korean news outlets say North Korea is plotting to kill South Korea’s defense minister because of his hardline stance against the communist regime. The outlets quote government sources as saying South Korean intelligence has received reports that a team has been sent to assassinate Defense Minister Kim Kwan-jin. They say military and intelligence officials […]

Tags: , , Posted in East Asia Pacific

Ai Weiwei Called “Politically Feisty” in First Post-Release Interview

Posted August 10th, 2011 at 12:40 am (UTC-5)
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Chinese artist and dissident Ai Weiwei denies that he confessed to tax evasion and says he will continue to speak out against injustice in his first published interview since being released on bail in June. The internationally renowned artist also describes his sense of isolation during almost three months of detention following his arrest at […]

Tags: , Posted in East Asia Pacific

Suspected U.S. Drone Strike Kills 5 in Pakistan

Posted August 10th, 2011 at 12:20 am (UTC-5)
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Pakistani intelligence officials say a U.S. drone strike has killed at least five militants in the tribal region along the Afghan border. The officials said the unmanned aircraft fired two missiles into a house Wednesday near the town of Miranshah in the North Waziristan region. U.S. officials do not publicly acknowledge the use of such […]

Tags: , Posted in South Asia