Brussels - The European Commission on Monday said it would clear Irish plans to guarantee bank deposits after the government agreed to extend such protection to big foreign banks operating in the country.

"The European Commission welcomes the various changes and commitments made and the close cooperation with the Irish authorities over the last week," the EU executive said in a statement.

"The Commission will proceed urgently to the adoption of a decision on the Irish scheme in accordance with EU state aid rules," it said.

Ireland was the first EU country to guarantee deposits in Irish banks amid news of crumbling government finances and the ongoing global credit crisis.

Frankfurt - European stocks rebounded s

The technology seems to be advancing day by day and it brings happy news for all those who are gizmo freaks. 

To add more to their wardrobe, LG has unveiled its latest LG-KC780 8 Megapixel Camera Phone in the market.

The feature-rich phone comes packed with an 8 megapixel resolution camera with a Schneider-Kreuznach certified lens for better quality and sharpness of effigies together with an ISO up to 1600 and a SmartLight setting for bright conditions and a built-in image stabiliser.

Washington - The world's top economic powers hoped that a guarantee to take action on the financial crisis would be enough to stop a global sell-off in stocks as they kicked off a meeting at the US Treasury on Friday.

But finance ministers and central bank heads from the Group of Seven (G7) industrial nations were reluctant to offer a common, cross-border solution to shore up banks on the brink of bankruptcy in their own countries.

Frankfurt - European shares plummeted Friday as panic selling spread from Asia and the United States on renewed fears about the economic fallout from the global credit crisis.

Washington - US President George W Bush on Thursday called for a "common policy" between the United States and Europe to address the financial crisis that has threatened the world's economy.

Bush, meeting with Slovak President Ivan Gasparovic, said he discussed "our common desire to work with our European friends to develop a best as possible common policy."