Washington - US President Barack Obama's economic recovery package was set to clear its final hurdles Friday as both houses of Congress voted on a nearly
790-billion-dollar compromise bill.
The House of Representatives approved the stimulus package - the largest single spending proposal in US history - by a vote of 246-183 Friday afternoon, with no support from the chamber's minority Republicans. The Senate was expected to follow suit Friday evening.
Washington - US President Barack Obama's economic recovery package was expected to clear its final hurdles Friday as both houses of Congress prepared to vote on a 789-billion-dollar compromise bill.
Obama, addressing business leaders at the White House, called the stimulus package a "once-in-a-generation chance to act boldly and turn adversity into opportunity."
Cairo - Egypt's central bank on Friday announced it would cut interest rates for the first time since 2006, in response to slowed economic growth and inflation.
The Central Bank of Egypt lowered the overnight deposit and lending rates by 100 basis points to 10.5 and 12.5 per cent, respectively, its first cut since April 2006.
Brussels - Shareholders in Dutch-Belgian bank Fortis on Wednesday rejected its emergency nationalization, throwing into chaos state plans to split up the crisis-hit lender.
In two votes, 57 per cent of shareholders rejected the sale of the Dutch parts of the bank to the Dutch state, while just over half of shareholders rejected the sale of the bank's Belgian arm to the Belgian state, and thence to French banking giant BNP Paribas, local media reported.
Washington - Wall Street's top executives on Wednesday defended the hundreds of billions of dollars their struggling firms have received in government bail-out funds, insisting the money has helped improve lending to consumers.
Many also recognized the sharp degree of public outrage at the slow recovery process and accepted some responsibility for the near- collapse of the US and global financial system.
Washington - US President Barack Obama's economic recovery package was set to clear its final hurdles Friday as both houses of Congress voted on a nearly 
Washington - The US House of Representatives app
Washington - US President Barack Obama's economic recovery package was expected to clear its final hurdles Friday as both houses of Congress prepared to vote on a 789-billion-dollar compromise bill.
Cairo - Egypt's central bank on Friday announced it would cut interest rates for the first time since 2006, in response to slowed economic growth and inflation.
Brussels - Shareholders in Dutch-Belgian bank Fortis on Wednesday rejected its emergency nationalization, throwing into chaos state plans to split up the crisis-hit lender.
Washington - Wall Street's top executives on Wednesday defended the hundreds of billions of dollars their struggling firms have received in government bail-out funds, insisting the money has helped improve lending to consumers.
