Amsterdam -Stocks on the Amsterdam exchange dropped dramatically Friday. By noon local time (1000 GMT) the main AEX index stood at 234 points, down 9.25 per cent on the day.

Shares of bank and insurance company ING Group, which on Sunday received 10 billion euros (12.87 billion euros) in government aid in exchange for securities, dropped the most, 14.38 per cent.

Steel manufacturer Arcelor Mittal was not far behind, down 12.96 per cent.

Similar negative developments could be seen in Amsterdam in shares across all economic sectors - from banking and insurance to electronics and construction.

Employment agency USG People dropped 12.55 per cent, while oil company Royal Dutch Shell dropped 11.85 percent.

Washington, Oct 24 : With Democratic presidential nominee Barack Obama all set to become the first ever African-American president in the Nov 4 polls, as suggested by various polls and surveys, his campaign managers are planning a grand party, setting up a huge stage at Chicago''s Grant Park, from where Obama would declare his victory, reported foxnews. com.

The victory celebration is expected to cost a whopping two million dollars (Rs 1000 lakhs)!

So far, Obama’s campaign is staying mum on the expected crowd count, but it is assumed that it would well cross 80,000 figure that congregated at the Democratic convention, added the report.

Beijing, Oct 24 : Pakistan Foreign Secretary Salman Bashir has said that his country’s President Asif Ali Zardari’s statement describing the Kashmiri fighters as “terrorists” was not exactly what he meant, as the definition of terrorism was not satisfactorily resolved yet.

Zagreb - Even as it hopes for an invitation to join the European Union, Croatia on Friday reeled in the wake of another high- profile murder and fears that organized crime has overpowered the state.

Croatia's top security body met in an urgent session after a bomb killed journalist, editor and publisher Ivo Pukanic and the marketing director of his NCL Media Group, Niko Franic, on Thursday evening.

Berlin - German Foreign Minister Frank-Walter Steinmeier is to fly to Pakistan on Monday at the start of a four-day diplomatic tour also taking in Saudi Arabia and the United Arab Emirates, aides said Friday in Berlin.

The onslaught of terrorist attacks and the growing financial crisis in Pakistan will be topics when he meets with Pakistan's new president, Asif Ali Zardari, and senior ministers in Islamabad.

Vienna - Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) decided Friday in Vienna to cut their total production by 1.5 million barrels per day, in reaction to falling prices and slowing demand.

"There is an oversupply, and the stocks are very high," said OPEC President and Algerian Energy Minsiter Chakib Khelil, explaining the decision.

The cut, down from the current quota of 28.8 million barrels per day, would be effective from the start of November, OPEC said in a statement. One barrel equals 159 litres.

Khelil denied that the cartel's move would have any impact on inflation or global economic growth.