Nepal parties fail to finalise constitution

Published : 12:00 am  May 28, 2012  |  Category: International  |  1 Comment  |  217 views  |  

KATHMANDU (Reuters): Nepal’s warring political parties said on Sunday they had failed to narrow their differences sufficiently to agree on a new constitution for the Himalayan republic before a midnight deadline, plunging the country into fresh political turmoil.  Read More →


Kuwait Finance Minister quits after opposition push

Published : 12:00 am  May 28, 2012  |  Category: International  |  Leave a Comment  |  279 views  |  
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Reuters: Kuwait’s Finance Minister resigned last week after opposition lawmakers accused him in parliament of failing to deal with alleged financial irregularities in his departments. Mustapha al-Shamali, who served as finance minister from 2007 and has worked in the ministry for more than four decades, denied allegations of mismanagement on his watch.  Read More →


Asia shares fall to 2012 lows as Europe worries weigh

Published : 1:28 am  May 26, 2012  |  Category: International  |  1 Comment  |  201 views  |  
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Reuters: Asian shares fell to their lowest levels of the year on Friday as early bargain hunting gave way to worries about Europe’s raging debt crisis and weak global growth. European shares looked set to follow their Asian peers, with spreadbetters predicting major European markets would open as much as 0.4 percent lower. U.S. stock futures were also down 0.3 percent.  Read More →


More analysts cut India’s GDP forecasts

Published : 1:27 am  May 26, 2012  |  Category: International  |  1 Comment  |  317 views  |  
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Reuters: Analysts at Goldman Sachs and Bank of America-Merrill Lynch cut their growth forecasts for India, following up on a Morgan Stanley downgrade earlier this week that had sparked much concern in domestic markets. The downgrades come in a tough month for Indian markets, after global risk aversion surged, exposing the country’s fiscal and economic vulnerabilities.  Read More →


US senators penalise Pakistan for jailing doctor who aided CIA

Published : 1:25 am  May 26, 2012  |  Category: International  |  Leave a Comment  |  269 views  |  
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Reuters: U.S. senators scandalized by Pakistan’s jailing of a doctor for helping the CIA find Osama bin Laden voted on Thursday to cut aid to Islamabad by $33 million — one million for each year in the doctor’s sentence. “It’s arbitrary, but the hope is that Pakistan will realize we are serious,” said Senator Richard Durbin after the unanimous 30-0 vote by the Senate Appropriations Committee. “It’s outrageous that they (the Pakistanis) would say a man who helped us find Osama bin Laden is a traitor,” said Durbin, the Senate’s number two Democrat.  Read More →


Shareholders sue Facebook, NYSE comes calling

Published : 10:43 am  May 25, 2012  |  Category: International  |  1 Comment  |  231 views  |  
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Reuters: The fallout from Facebook Inc’s messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek “remedies.”  Read More →


EU urges Greece to stay in euro, but plans for possible exit

Published : 10:41 am  May 25, 2012  |  Category: International  |  Leave a Comment  |  274 views  |  
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Reuters: European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout programme.  Read More →


Tesco boss forgoes bonus after poor UK results

Published : 10:39 am  May 25, 2012  |  Category: International  |  1 Comment  |  249 views  |  
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LONDON (Reuters): Tesco boss Philip Clarke has decided not to take an annual bonus of about 372,000 pounds ($588,000) after the retailer’s poor performance in its main British market, heading off a potential outcry by investors increasingly critical of executive pay. The world’s third-biggest retailer, which issued a shock profit warning in January, also said on Tuesday its top 5,000 managers would receive a reduced annual bonus representing 16.9 percent of their maximum entitlement.  Read More →


Suu Kyi to make first trip out of Myanmar in 24 years

Published : 4:17 am  May 25, 2012  |  Category: International  |  Leave a Comment  |  263 views  |  
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Reuters: Nobel laureate and opposition leader Aung San Suu Kyi will travel outside Myanmar for the first time in 24 years next week to deliver a speech at an international forum in Thailand, her party said on Thursday.  Read More →


China May factory activity turns down – HSBC Flash PMI

Published : 12:01 am  May 25, 2012  |  Category: International  |  Leave a Comment  |  247 views  |  
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Reuters: China’s factories took a hit in May as export orders fell sharply, a private sector survey showed on Thursday, suggesting surprise weakness in April’s hard economic data persists even as policymakers seek to shore up growth.  Read More →


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