Featured

Indonesia unveils measures to prop up rupiah

Jakarta - Indonesia has ordered state companies to place their US dollars at home and plans to scrap a levy on overseas palm-oil sales to bolster the rupiah after the currency plunged to its lowest level since 2001, media reports said Wednesday.

The government and central bank also plan to buy bonds from the market to restore investor confidence, Finance Minister Sri Mulyani Indrawati said Tuesday night after a cabinet meeting.

The rupiah fell as much as 8.7 per cent Tuesday to 11,900 against the dollar before recovering to 10,900 on suspected intervention by the central bank as Indonesian stocks declined to their lowest values since December 2005.

President Gayoom denied seventh term in Maldives election

Maldives President Maumoon Abdul GayoomMale/Colombo – Maldives President Maumoon Abdul Gayoom has been defeated in the presidential elections ending his record as one of Asia's longest-serving leaders, officials in Male said Wednesday.

In Tuesday's run-off election, Gayoom, 71, was denied a seventh consecutive term and will be succeeded by Mohamed "Anni" Nasheed, a 41-year-old activist who was once imprisoned by Gayoom's government.

Japan's industrial output up 1.2 per cent in September

Japan's industrial output up 1.2 per cent in SeptemberTokyo - Japan's industrial output rose 1.2 per cent in seasonally adjusted terms in September, compared to the previous month, the government said Wednesday.

The September growth was supported by automobile, machinery and electronics device sectors, but the government downgraded its assessment, estimating overseas demand for Japanese products would slowdown amid the global financial crisis.

The Ministry of Economy, Trade and Industry expected the output to fall 2.3 per cent in October and 2.2 per cent in November.

Earthquake kills 21 in south-west Pakistan

Islamabad - A powerful earthquake rattled Pakistan's south-western Balochistan district on Wednesday, killing at least 21 people and injuring scores of others, media reports said.

The US Geological Survey on its website said a magnitude 6.4 earthquake struck 60 kilometres north-east of Quetta, the capital of Balochistan at 5:10am (2310 GMT).

At least 17 people died in Balochistan's Ziarat district and many were feared trapped under rubble of several houses that collapsed during the strong shocks, DawnNews television channel reported quoting local authorities.

DawnNews said officials in Pishin district also confirmed four deaths.

Ford's new Fiesta is a classy global supermini

Ford's new Fiesta is a classy global superminiHamburg - A wind of change is blowing through the supermini segment and following hard on the heels of the new Mazda 2 and the Seat Ibiza is Ford's contribution, the revamped Fiesta, now in its seventh generation.

The Blue Oval badly needs to win back customers in this market which it once dominated. After all, the Fiesta was the best-selling car in its class for a decade. The latest Fiesta is a truly global vehicle to be sold in dozens of markets around the world, from Asia to Eastern Europe.

Legality of US strike in Syria debatable

Washington - The US raid against a top al-Qaeda operative this week in Syria was the latest effort by the Bush administration to step up pressure on the terrorist network, even by striking in countries without the approval of their governments.

Syria strongly protested the helicopter-borne attack on Sunday, 8 kilometres beyond the Iraqi border, where the United States is believed to have killed an al-Qaeda lieutenant responsible for smuggling fighters, weapons and money into Iraq.

The White House has not publicly acknowledged the attack. Damascus says that only civilians were killed.

Pages