General Politics

US Congress to vote on 90 per cent tax on bail-out bonuses

US Congress to vote on 90 per cent tax on bail-out bonuses Washington  - Spurred on by public ire over bonuses paid at firms that received government bail-outs, the US Congress Thursday was considering a 90-per-cent tax on executive bonus payments by companies receiving more than 5 billion dollars in federal funds.

The action, which the House of Representatives could vote on later Thursday, comes amidst furor over actions by American International Group (AIG), the world's largest insurance firm whose near failure in September 2008 helped push a teetering US financial system into rapid descent.

Greece unveils first "green" island

Greece unveils first "green" islandAthens  - The tiny Greek island of Agios Efstratios located in the Aegean Sea would soon become the country's first "green" island, entirely powered by renewable energy sources, Development Minister Kostis Hatzidakis said Thursday.

The island's 250 residents would use only solar- and wind- generated energy and move around the 43.3-square-kilometre island, located north-west of Limnos on bicycles and in electric cars.

According to Hatzidakis, the 10-million-euro (13-million-dollar) project would go into effect by 2010 and serve as an international model.

Rajoelina dissolves parliament as SADC mulls response to Madagascar

Rajoelina dissolves parliament as SADC mulls response to Madagascar Antananarivo - On his first working day as Madagascar's interim president Thursday Andry Rajoelina dissolved the national assembly and senate in advance of new elections he says will be held within only two years.

Rajoelina, who ousted ex-president Marc Ravalomanana from power on Tuesday after a seven-week campaign of street protests, also appointed more ministers to his interim government, including one - the education minister - from Ravalomanana's administration.

Uma Bharti reiterates her support to Advani

Uma Bharti reiterates her support to AdvaniNew Delhi, Mar 19: Bharatiya Janashakti Party leader Uma Bharti on Thursday reiterated support to Bharatiya Janata Party''s prime ministerial candidate L K Advani.

"I have met Advani for the third time now. I have already met him twice earlier. I told him that I would offer all support to him that would be required for him to become the Prime Minister. But let me clarify once again that I don''t wish to join BJP, I am happy with my party and I am proud of it. I have not been able to fight elections due to lack of funds," said Bharti.

Key allies still hopeful of bringing Congress around

New Delhi/Patna/Lucknow/Chennai, Mar 19: Key allies of the Congress party are continuing with their hectic negotiations to narrow down their differences over seat-sharing ahead of general elections.

Rashtriya Janata Dal (RJD) president and Railway Minister Lalu Yadav, a key player in Bihar, underplayed the rift with the Congress.

"Less seats given, more seats given, internal differences, all these are immaterial. The UPA will form the Central Government. We have nothing to do with the Third Front. And Mulayam Singh is also with me. Mulayam Singh, Ram Vilas Paswan and Lalu Prasad, we will together be in the UPA Government formation," said Lalu.

SIDEBAR: AIG's not the only company to pay bail-out bonuses

SIDEBAR: AIG's not the only company to pay bail-out bonusesWashington - American International Group, under fire for paying 165 million dollars in retention bonuses using government bail-out money, is not the only government beneficiary to have spent its money that way.

As AIG head Edward Liddy faced criticism on Capitol Hill Wednesday, a federal regulator defended a payment by Fannie Mae, the mortgage finance firm seized by the government last year, of 4.4 million dollars to four top executives.

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