Washington - The US government is submitting a finance rescue package to Congress that is valued at 700 to 800 billion dollars, media reports said Saturday.

In the largest intervention in capital markets since the 1930s, the administration of US President George W Bush Friday proposed to mop up bad mortgage debt with its first system-wide attack on turmoil in the finance industry that threatens the nation with economic collapse.

Washington - US President George W Bush on Saturday condemned the terrorist bombing at a hotel in Islambad that killed at least 50 people and injured hundreds more.

"This bombing, the latest in a series of terrorist attacks, is part of a continuing assault on the people of Pakistan. This attack is a reminder of the ongoing threat faced by Pakistan, the United States, and all those who stand against violent extremism," Bush said in a statement.

Washington- President George W Bush said Saturday that bold action was needed to bailout US financial institutions and prevent a broader economic collapse.

The Bush administration, seeking to head off the country's worst financial crisis since the Great Depression of 1929, moved this week to soak up the brunt of banks' mortgage-related assets, back money market mutual funds, curb certain stock-trading techniques and make more money available for loans to consumers.

Washington- US President George W Bush on Saturday urged Congress to approve a long standing free trade agreement with Colombia, warning a failure to do so could encourage populist Latin American leaders pursuing anti-US policies.

"If this agreement were not to pass it would embolden voices of populism in the neighbourhood to the detriment of a government that has been very strong," Bush said at a White House meeting with Colombian President Alvaro Uribe, a close US ally in South America.

Washington- The administration of President George W Bush is seeking 700 billion dollars from Congress to buy up distressed assets as part of its plan to help halt the worst financial crisis since the 1930s, the Wall Street Journal reported Saturday.

The newspaper's online service said the Treasury Department sent Congress legislative language Friday evening, asking for broad authority to buy assets from US financial institutions.

The two-and-a-half-page request contains a broad outline of how this new entity would function, the report said.

Kathmandu - Nepalese Prime Minister Pushpa Kamal Dahal Saturday
left for New York to take part in the United Nations General Assembly.

The visit is his third foreign trip since he became the prime minister just over a month ago.

Dahal, a former rebel leader popularly known as Prachanda, will
address the UN General Assembly on Friday and is expected to attend the
banquet host by US President George W Bush in New York.

Speaking briefly to reporters, Dahal said he would put Nepal's views during his speech at the UN.