Wellington - New Zealand's central bank slashed its benchmark interest rate Thursday by half a per cent to 3 per cent, its sixth cut since July.

The so-called official cash rate (OCR) was already at its lowest mark since it was introduced in 1999 and Reserve Bank governor Alan Bollard signalled that he would cut it again.

New York  - Microsoft co-founder Bill Gates regained the top spot on Forbes' annual list of the world's richest people released on Wednesday as investment guru Warren Buffett and Mexican telecom magnate Carlos Slim each lost 25 billion dollars.

Gates lost just 18 billion in the financial apocalypse that hit world markets last year and is now worth 40 billion dollars compared to Buffet's 37 billion dollars and Slim's 35 billion dollars.

Washington  - The United States will push for aggressive action to halt the global economic slide at an international financial summit next month, President Barack Obama said Wednesday, emphasizing the interconnectedness of the global economy and again warning against protectionist moves.

Ahead of April's Group of 20 (G20) gathering of the world's leading economies, Obama acknowledged that developing countries were being "hard hit" by the fallout from an economic crisis that largely began in the United States.

Kiev  - Ukraine's government has met International Monetary Fund (IMF) demands by making politically-painful changes to monetary and fiscal law, a move opening the way for more emergency credits, a senior official said Wednesday.

Ukraine's cabinet in morning a morning session passed resolutions drastically limiting where future IMF loans to Ukraine might be spent, among other Fund pre-conditions for further loans, said Vice Minister Hryhory Nemyra, according to an Interfax news agency report.

Brussels  - The European Union is ready to bail out Romania, the latest European victim of the global credit crunch, the bloc's finance ministers said after a meeting in Brussels on Tuesday.

"In view of the adverse effects of the global financial turmoil on the economic and financial situation in Romania, the (EU's) Council Presidency and the Commission express the European Union's readiness to support Romania in avoiding risks of increasing market pressures and in achieving the orderly unwinding of imbalances," ministers said in a statement.

Washington - Federal Reserve Chairman Ben Bernanke on Tuesday outlined a broad overhaul of how US financial institutions should be regulated, calling on policymakers to begin remaking the system even as they battle the current economic downturn.

Bernanke said the focus should be on financial firms of "systemic" importance to the entire system and whose failure could lead to a complete collapse of the economy.