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  • Need more positive signs before scaling back stimulus, says Bernanke Need more positive signs before scaling back stimulus, says Bernanke

    WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...

  • April sees Japan trade deficit jump to 879.9bn yen April sees Japan trade deficit jump to 879.9bn yen

    TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...

  • Breakthrough research shows Vit C kills drug resistant TB Breakthrough research shows Vit C kills drug resistant TB

    WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...

  • UK urged by IMF to bring forward high value spending UK urged by IMF to bring forward high value spending

    LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

  • US delegation to urge labour reforms in Bangladesh US delegation to urge labour reforms in Bangladesh

    DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...


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Movie Review

The Godfather Part III [DVD]

The Godfather Part III [DVD]

"The Godfather ... is the first completely authentic modern myth in American cinema ..." Jake Horsley, The Blood Poets: A Cinema of Savagery, 1958-1999 ...

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  • Work starts on creation of new Dubai island

    Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...

  • Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm

    Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...

  • Tesco will not pay executive bonuses without rise in profits

    executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report on Thursday.The report rounds off a torrid year for the company, which announced a withdrawal from the United States and wrote down the value of its global operations by $3.5 billion (2.3 billion ...

  • US stocks sink after global rout

    NEW YORK (AFP) - US stocks fell modestly Thursday after the plunge in the Japanese market sparked a selloff throughout Asia and Europe.A little more than an hour into trade, the Dow Jones Industrial Average was down 68.35 points (0.45 percent) to 15,238.82.The broad-based S&P 500 dropped 11.74 (0.71 percent) to 1,643.61, while the tech-rich Nasdaq Composite Index fell 13.91 (0.40 percent) to ...

  • Stocks fall in early trading on Fed stimulus concern contracting Chinese manufacturing

    NEW YORK - Stocks fell in early trading, extending a sell-off that began Wednesday afternoon, after Chinese manufacturing unexpectedly contracted and on concern that the Federal Reserve may ease back on its stimulus program. The Dow Jones industrial average was down 50 points at 15,256 as of 10:28 a.m., a decline of 0.3 percent. It had been down 127 points in the early going following steep ...

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