Taipei - Taiwan's central bank Wednesday announced a benchmark interest rate cut of 50 basis points following a sharp decline of the island's total exports in December.

"Effective from Thursday, the benchmark interest rate would be lowered to 1.5 per cent from 2 per cent," the central bank said in a press release after an unscheduled board meeting.

It stressed the cut was to reflect the sharp decline in the island's total exports, which slumped by 42 per cent in December at 13.64 billion US dollars, due to the global economic recession.

Durban - Police in South Africa on Wednesday revised the number of people killed in apparent xenophobic violence in the port city of Durban on the weekend from three to two.

Reports Tuesday had said three foreign nationals had been killed when a mob of 150 armed people stormed an apartment building inhabited by migrants from other parts of Africa. Those targeted were forced to jump from windows of the building in Albert Park.

Police said a Zimbabwean and a Tanzanian fell to their deaths, while a 23-year-old Mozambican, initially reported dead, had survived the fall and was in a critical condition in hospital.

Tehran - Iran has started extensive diplomatic efforts to stop the conflict in the Gaza Strip, Mehr news agency on Wednesday quoted Foreign Ministry Spokesman Hassan
Ghashghavi as saying.

Ghashghavi said that President Mahmoud Ahmadinejad has dispatched 22 envoys to several Asian and European states with the aim of "an immediate stop of Zionists'
(Israeli) aggressions and blockade of Gaza."

The spokesman did not clarify to which countries the president's envoys would be dispatched but said that the diplomatic operation would be directed by the foreign
ministry.

Berlin - Germany welcomed Wednesday a proposal by Egypt's President Hosny Mubarak for an immediate ceasefire between Israel and the Palestinians in the Gaza Strip, to be followed by meetings to end the blockade of Gaza.

Foreign Minister Frank-Walter Steinmeier said, "One must now seek an exit from the violence as soon as possible on this basis."

He also welcomed Israel's announcement that it would allow a humanitarian corridor for aid to enter the Gaza Strip.

Steinmeier called for the corridor to opened quickly "to get urgently needed supplies of relief to the suffering people in Gaza."

Dhaka - Bangladesh's new civilian government assured Wednesday that it would work closely with neighbours to restore peace in South Asia curbing militancy and terrorism.

"We will take effective steps against militancy and terrorism in consultations with our neighbouring countries," Dr Dipu Moni, the newly appointed foreign minister of Sheikh Hasina Wazed's cabinet, told reporters on her assumption to office.

Brussels - The European Union has carried out raids on companies which