Singapore - Though the international financial system is still under significant stress, Singapore's markets remain stable and its banks face no funding difficulties in the interbank market, parliament was told Monday.
Nevertheless, the government decided last week to provide a guarantee of 150 billion Singapore dollars (101.62 billion US dollars) for deposits of individuals and non-bank customers in Singapore-based banks.
"If Singapore had not introduced a similar guarantee, there was a real risk that depositors would have shifted some of their deposits out of Singapore banks, to banks in other jurisdictions which guarantee deposits," Trade and Industry Minister Lim Hng Kiang said.
Kiev - Ukrainian President Viktor Yushchenko on Monday called for unprecedented cuts in government spending amidst a desperate quest for more credit as the government battles with a looming national budgetary crisis.
Berlin - While German banks began queuing up for a handout under the government's 500-billion-euro plan for shoring up the financial sector, rescue flags begun emerging across the lawn in front of the nation's parliament building, the Reichstag.
Washington - A key gauge of the US economy improved slightly in September, the first rise in five months despite an ongoing financial crisis and fears of a recession in the United States.
Berlin - The German Government unveiled on Monday conditions for banks applying for financial support from its 480 billion-euro (645.46-billion dollar) bank rescue package as Berlin considers moves to help boost Europe's biggest economy in the face of an expected sharp global slowdown.
