Cairo- Egyptian ministers emphasized terms including "healthy," "safe" and "sound" to describe the local economy during a two-day Euromoney business conference in Cairo, which concluded Tuesday.

The theme that they conveyed was: "We are not worried."

As panic spreads in markets worldwide amid the international economic slowdown, the local officials laboured to reassure investors about Egypt as a place with ample opportunities.

Tokyo - Japan's key Nikkei index fell 2 per cent Wednesday, tracking the US market's overnight losses.

Wellington - The man who could be New Zealand's next immigration minister apologized Wednesday for giving offence with remarks about Asian and Pacific island migrant workers in the country's orchards and vineyards.

Lockwood Smith, immigration spokesman for the opposition conservative National Party, which is favoured in next month's general election, said that Asian workers were more productive "because their hands are smaller" and Pacific islanders had to be taught how to use toilets and showers.

Smith, who was campaigning Tuesday in the vineyard and fruit- producing province of Marlborough, said his comments were reported out of context.

Buenos Aires - Argentine President Cristina Fernandez de Kirchner on Tuesday signed a bill to unify the country's pension system into a public regime, following 14 years in which workers could opt for either a private or a public pension scheme.

The bill that will nationalize private pension funds needs to be approved by Congress. It would allow the government to collect the compulsory pension contributions of close to 3.6 million workers - worth some 4.6 billion dollars per year - who are currently in the private system.