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Zapatero calls for "new financial world order"

Zapatero calls for "new financial world order" San Salvador, El Salvador - Spanish Prime Minister Jose Luis Rodriguez Zapatero on Thursday joined calls for a "new financial world order" with stronger mechanisms for control and transparency.

At the Iberian American Summit in San Salvador, the centre-left Rodriguez Zapatero criticized the "myth of deregulation" which according to him put speculation and greed, and the unbounded craving for greater benefits, above the productive economy.

Festival and rain closes Berlin's Tempelhof Airport

Festival and rain closes Berlin's Tempelhof Airport Berlin - Rain marred an aviation festival on the last day of operations at Berlin's fabled Tempelhof Airport on Thursday, raising the risk that some planes might be stranded on the ground when the airport shuts.

The airport was once the entry point for 2.3 million tons of airborne relief during the 1948-49 Berlin Airlift.

Three veteran planes, which require ideal weather to get airborne, were stuck on the ground as night fell, with cold rain falling on the city.

IMF officials conclude first round of talks to bail out Pakistan

IMF officials conclude first round of talks to bail out Pakistan Islamabad - The International Monetary Fund (IMF) on Thursday concluded the first round of technical talks in Dubai with Pakistani officials about creating a system to save the south Asian nation from economic collapse, officials said.

Pakistan's government is facing a tightening balance of payments. Its financing gap stands at around 7 billion dollars for the current fiscal year, which ends June 30, 2009.

Experts urge African nations to take precautions in finance crisis

Kampala - International economists and policy experts on Thursday warned that Africa could be devastated by the current global credit crisis if governments fail to take serious precautions.

Dangers include: a dwindling of aid from the United States, Europe and other developed countries; a downturn in tourism; and losses of revenue from the export of oil and other commodities. These dangers could disrupt national economic plans, warned experts meeting at a one-day summit hosted by the Copenhagen-based Africa Commission.

"We might see a downward trend for commodity prices. ... The crisis is already affecting oil revenues," said Greg Mills, director of the Brent Hurst Foundation and chairman of the conference.

Eleven killed in clashes between Taliban and Pakistani forces

Eleven killed in clashes between Taliban and Pakistani forces Islamabad - At least 10 Taliban militants and one civilian were killed Thursday as Pakistani army helicopter gunships and artillery pounded militant positions in the country's north-western Swat valley, officials said.

"Our forces targeted insurgent locations in Sarsinai and Kotlai villages of Kabal sub-district," said an senior army official who spoke on condition of anonymity.

"Ten miscreants were killed and one was injured. We destroyed their one weapons depot but there was no loss on our side," he added.

Iraqis seeking changes to troop agreement

Iraqis seeking changes to troop agreementBaghdad - Iraq will sign a long-term security agreement with the US only if the latter agrees to compromise on Iraqi-proposed amendments, the al-Sabah newspaper said Thursday.

The Iraqi government had handed the US embassy in Baghdad an amended draft on Tuesday, although both parties had agreed in mid- October that the last draft was final.

The Status of Forces Agreement (SOFA) would extend the mandate of US forces in Iraq beyond the end of this year, when the UN authorization runs out.

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