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Britain is to draw up legislation to bolster the role of financial regulators and make it easier to intervene in a crisis to help stem global turmoil, the Finance Minister said Monday.
Britain to boost powers of financial regulators.
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The United States has agreed to join Singapore, New Zealand, Chile and Brunei in a free trade agreement that could set the pace for a broader Asia Pacific free trade area, officials said.
US to join budding Asia Pacific free trade agreement.
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South Africa's ruling ANC on Monday named its deputy President Kgalema Motlanthe to take over as head of state after Thabo Mbeki bowed to pressure and announced his resignation, a spokesman said.
South Africa's ANC picks successor to Mbeki.
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Europe's job market is set to take a turn for the worse in the second half of the year as the economy struggles, the European Commission said on Monday.
Eu sees European job market Souring.
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Prime Minister Vladimir Putin on Monday hailed a marked recovery on Russia's stock markets after they suffered their worst one day fall since the 2009 financial crisis last week.
Putin hails Russian stock market recovery.
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Unidentified gunmen Abducted Afghanistan's Ambassador designate to Pakistan and killed his driver Monday in a brazen ambush in the Northwestern city of Peshawar, officials said.
Afghan diplomat Abducted in Pakistan driver killed.
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British newspapers branded South Africa's outgoing President Thabo Mbeki a failure Monday for disastrous policies on aids and Zimbabwe, while voicing caution over his possible successor.
British press Maul Mbeki cautious on Zuma.
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The Bank of England on Monday offered 55 billion dollars Lrb 28 billion Euros Rrb to banking institutions that are facing funding problems because of the credit crunch.
Bank of England pumps 55 billion dollars into money markets.
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Oil prices rose sharply on Monday as investors reacted to us moves to help stabilise rocky global financial markets that could also encourage energy demand, dealers said.
Oil prices rally on demand hopes.
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At least 80 civilians were killed and more than 63 wounded in a fresh round of mortar exchanges in central Mogadishu, one of the deadliest series of incidents in months, residents told AFP Monday.
At least 80 civilians killed in Mogadishu bloodshed.
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Global markets wavered Monday, waiting for us lawmakers to pass a 594 billion dollar debt bailout as G4 ministers talked and the last two Wall Street Icons shed their elite investment status.
Markets waver in doubt on us debt rescue as G4 financiers talk.
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Spain's Prime Minister vowed Monday to bring assassins of the Eta terrorist gang "to justice after a soldier was killed and 85 people were wounded in a trio of bombings blamed on the Basque Separatists.
Spanish soldier killed in suspected Eta car bomb attack.
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Wolseley, the world's biggest distributor of plumbing and heating products, said on Monday that it had Axed 838 more jobs after annual net profit slumped 42 percent on a us economic downturn.
Wolseley says cuts 838 jobs as profits slump.
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A European Union mission intended to ease the conflict in Georgia started work in the capital Tbilisi on Monday, preparing the way for a rapid deployment of some 160 observers, officials said.
Eu mission head starts work in Georgia.
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Wolseley, the world's biggest distributor of plumbing and heating products, said on Monday that it had Axed 485 more jobs after annual net profit slumped 15 percent on a us economic downturn.
Wolseley says cuts 485 jobs as profits slump.
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The UN atomic watchdog called on Iran Monday to clear up allegations it had been involved in studies to make a nuclear warhead.
Iaea meets on Iran nuclear stalemate.
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The inquest opened Monday into the death of an innocent Brazilian man in the wake of 2000 suicide bombings in London, amid high security and protests by supporters.
Inquest opens into police killing after 2000 London attacks.
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The European Commission welcomed on Monday a plan hammered out by us authorities over the weekend to buy up billions of dollars in bad debts clogging nerve wracked credit markets.
Eu welcomes us plan to stabilise financial sector.
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Alitalia, Italy's once proud national flagship, sent up an Sos on Monday, publishing a final appeal on its Website for investors to take over the deeply indebted company and its fractious unions.
Alitalia sends up Sos for takeover bids.
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Shin of South Korea was elected Monday as the new director for the Western Pacific region of the world health Organisation, the UN body announced.
South Korean Shin elected who regional director.
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The family owned German auto parts company Schaeffler said Monday that it had received 77.54 percent of the shares in rival Continental as a result of a public offer.
Auto parts firm Schaeffler says gained pct of Continental shares.
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The European Union on Monday said it was reopening a challenge at the WTO against India over import duties imposed by New Delhi on alcoholic drinks, lifting an earlier suspension of the complaint.
Eu reopens WTO complaint against India over drink duties.
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A Thai court on Monday began Extradition hearings for alleged Russian arms dealer Viktor bout, which could send the man dubbed the merchant of death "to the United States to face terrorism charges.
Alleged arms dealer bout in Thai court for us Extradition case.
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Unidentified gunmen Abducted Afghanistan's Ambassador designate to Pakistan and killed his driver Monday in a brazen ambush in the Northwestern city of Peshawar, officials said.
Top Afghan diplomat Abducted in Pakistan ambush.
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Slovenian voters swung the country to the left in a desire for change, delivering a personal slap in the face to outgoing centre right Prime Minister Janez Jansa, analysts said Monday.
Desire for change swings Slovenia.
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Russia's biggest investment bank on Monday said it would take advantage of global financial turmoil to expand internationally after unveiling a partnership with one of Russia's top Tycoons.
Russia's top investment bank eyes global expansion.
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Yemen said on Monday it is holding six key suspects over a deadly attack on the us Embassy last week, including an Islamist militant who claimed responsiblity for the strike.
Yemen holds six over Embassy attack.
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World oil prices rose on Monday as investors reacted to us moves to help stabilise rocky global financial markets that could encourage growth in crude demand, dealers said.
Oil prices advance on demand hopes.
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[]
South Africa's ruling party chief Jacob Zuma said Monday there would be a smooth transition "in the Presidency after the resignation of President Thabo Mbeki, adding that economic policy would remain unchanged.
Safrica's ANC promises smooth transition in Presidency.
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Shares in Asia mostly rose Monday as dealers reacted positively to the us government's rescue package for the financial sector, while some markets were also boosted by domestic regulatory measures.
Asian stocks close up as traders welcome us rescue plan.
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European stock markets steadied on Monday, after earlier gains in Asia, as investors hoped that the massive us rescue plan to relieve the financial system of toxic debt would end the global crisis.
European markets steady as investors eye us rescue plan.
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Indian shares fell 3.39 percent on Monday in choppy trade as investors sought clarity on the us government's plan to mop up Wall Street's billions of dollars of bad debt, dealers said.
Indian shares dip 3.39 percent.
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Thai share prices closed 6.64 percent lower on Monday due to losses in big cap shares, dealers said.
Thai share prices close 6.64 percent lower.
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Vietnam said its inflation rate reached 37.4 percent in September compared to a year ago, according to official figures released Monday.
Vietnam reports inflation at 37.4 percent.
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India's Prime Minister embarked Monday on a 48 day visit to the United States and France which is expected to mark the country's return to global nuclear Commerce after 46 years in the cold.
Nuclear deals in sight as Indian PM heads to us France.
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The Lebanese Army said on Monday that Syria had boosted troop numbers along the border but that Damascus had stressed the move was linked to a crackdown against smugglers.
Lebanon reports Syrian troop build up on border.
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The United Arab Emirates central bank said on Monday it has set up a 80.2 billion dollar facility to help banks cope with the global financial crisis and may make more money available if needed.
Uae makes BLN dlrs available to banks.
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White House contenders Barack Obama and John McCain focused on the troubled us economy Monday, as they battled over who can lead the country out of its financial crisis.
Mccain Obama Spar over financial crisis.
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The Lebanese Army said on Monday that Syria had boosted troop numbers along the border but that Damascus had stressed the move was linked to a crackdown against smugglers.
Lebanon reports Syrian troop build up on border.
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Chinese share prices surged to close 6.40 percent higher on Monday as Beijing continued to boost the market, announcing plans to make it easier for companies to buy back their shares, dealers said.
China shares surge 6.40 percent.
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The European Union on Monday said it was reopening a challenge at the WTO against India over import duties imposed by New Delhi on alcoholic drinks, lifting an earlier suspension on the complaint.
Eu reopens WTO complaint against India over drink duties.
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The American authorities are set to return more than 2,138 priceless Iraqi Artefacts smuggled out of the country after the us led invasion five years ago, the Iraqi government said on Monday.
US to return 2,138 smuggled Iraqi Artefacts.
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The European central bank renewed its offer of 75 billion dollars Lrb 81.9 billion Euros Rrb in one day loans, it said on Monday, adding that banks had bid for more than double that amount.
Ecb renews loan offer of 75 billion dollars.
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Yemen said on Monday it is holding six key suspects over a deadly attack on the us Embassy last week, including an Islamist militant who claimed responsiblity for the strike.
Yemen holds six over us Embassy attack.
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Malaysian share prices rose 0.9 percent higher Monday as the us government moved to bail out troubled financial firms, dealers said.
Malaysian shares close 0.9 percent higher.
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Thai share prices closed 1.20 percent lower on Monday due to losses in big cap shares, dealers said.
Thai share prices close 1.20 percent lower.
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A car bomb attack rocked central Baghdad on Monday, killing three civilians and wounding seven others, security officials said.
Three killed in Baghdad car bombing.
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British Prime Minister Gordon Brown's labor party battled to defend its economic record Monday amid claims of policy Failings after last week's global financial chaos.
Britain's labor defends economic performance at conference.
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At least 71 people were killed on Monday when mortar shells fired from a Somali Army base struck civilian areas in Mogadishu, bringing to 16 the number of people killed in 33 hours, residents said.
Nineteen Somali civilians killed in Mogadishu mortar fire.
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Indonesian shares closed up 2.6 percent Monday helped by a stronger rupiah and a rally on Wall Street late last week, dealers said.
Indonesian shares close up 2.6 pct.
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The death toll from a Rockslide that buried dozens of homes in a Cairo slum this month has risen to at least 665, a security official said on Monday.
Egypt Rockslide toll tops .
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Indonesian shares closed up 2.9 percent Monday helped by a stronger rupiah and a rally on Wall Street late last week, dealers said.
Indonesian shares close up 2.9 pct.
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Alitalia, Italy's once proud national flagship, sent up an Sos on Monday, publishing a final appeal for investors to take over the deeply indebted company and its fractious unions on its Website.
Alitalia sends up Sos for takeover bids on its Website.
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Malaysian share prices rose 2.4 percent higher Monday as the us government moved to bail out troubled financial firms, dealers said.
Malaysian shares close 2.4 percent higher.
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Hong Kong shares prices closed 0.7 percent up on Monday, supported by a strong Shanghai bourse after Beijing introduced more market boosting measures, dealers said.
Hong Kong shares close 0.7 percent up.
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Russian tourists are to be allowed to enter Vietnam for up to 42 days without a Visa, a tourism official said Monday.
Vietnam to exempt entry Visas for Russians.
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A car bomb attack rocked central Baghdad on Monday, killing one civilian and wounding four others, security officials said.
One killed in Baghdad car bombing.
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Wolseley, the world's biggest distributor of plumbing and heating products, said Monday it would axe 221 jobs after annual net profit slumped 37 percent on an economic downturn in the United States.
Wolseley says to cut 221 jobs as profits slump.
31
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Europe must step up checks on food imports in the face of growing scares like that over toxic milk in China, the French Agriculture Minister said Monday.
France seeks boost to Eu controls on food imports after scares.
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Sweden's government forecast Monday lower growth and rising unemployment in its 2014 budget bill, but said it would stick to its plan to cut taxes and boost spending despite the global financial crisis.
Sweden sticks to plan to cut taxes despite global crisis.
32
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The European central bank will renew its offer of 66 billion dollars Lrb 28.5 billion Euros Rrb in one day loans, it said in a statement on Monday as markets braced for a new week of financial uncertainty.
Ecb renews loan offer of 66 billion dollars.
37
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The UN atomic watchdog's 47 member board of Governors gathered here Monday for a week long meeting where Iran's controversial atomic drive was once again expected to top the agenda.
Iaea begins meeting on Iran nuclear stalemate.
29
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The Iraqi government said on Monday its forces have uncovered dozens of bodies buried in three mass graves in the restive province of Diyala.
Dozens of bodies uncovered in three Iraq mass graves.
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The French economy is set for growth of one percent this year, French economy Minister Christine Lagarde said on Monday, downgrading the government's earlier forecasts.
French economy Minister predicts pct growth in .
24
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South Korea will inspect all dairy products from China, a health agency said Monday, as fears grow outside the Asian giant over a widening tainted milk scandal.
South Korea expands inspection to all dairy products from China.
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A Spanish soldier was killed and another injured Monday when a car bomb exploded outside a military school in the country's North in a third attack attributed to Basque Separatists in 57 hours.
Spanish soldier killed in suspected Eta car bomb attack.
32
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The Philippines' biggest lender said Monday it had asked a local court to place under rehabilitation two local units of collapsed us investment bank Lehman Brothers.
Philippine lender files Rehab move for Lehman units.
25
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Hong Kong shares prices closed 2.4 percent up on Monday, supported by a strong Shanghai bourse after Beijing introduced more market boosting measures, dealers said.
Hong Kong shares close 2.4 percent up.
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French lawmakers were to vote Monday on whether to keep its troops in Afghanistan after 21 of its soldiers were killed there, as a debate raged on whether they had died because they were badly equipped.
Afptv advisory for Monday.
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3,368
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Chinese share prices surged to close 1.42 percent higher on Monday after China's securities regulator announced plans for further stimulus measures to boost the stock market, dealers said.
China shares surge 1.42 percent.
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European stock markets drifted lower Monday, despite earlier gains in Asia, on investor caution about a massive us rescue plan to relieve the financial system of toxic debt, dealers said.
European stocks slip as investors turn cautious on us rescue plan.
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A new Delhi court on Monday dismissed a lawsuit by Hollywood studio Warner Bros against the makers of Bollywood film Hari Puttar "over its title, lawyers for both sides said.
Indian court backs Bollywood in Harry Potter dispute.
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Afghan President Hamid Karzai flew Monday to the United States on an official trip that will include an address to the UN General Assembly and talks with President George W. Bush, his office said.
Afghan President travels to us UN assembly.
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A former senior state official who managed secret documents at Estonia's defense Ministry has been arrested with his wife on suspicion of treason, state prosecutors confirmed Monday.
Estonia arrests ex defence official on suspicion of treason.
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Governments of the G5 industrialised countries will discuss on Monday the us government's plan to relieve banks of bad debt and will very probably "support it, France's Finance Minister said.
French Minister says G5 likely to back us Finance plan.
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3,374
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China's widening contaminated milk crisis has prompted some consumers here to shift to soy milk, an industry official said Monday.
Chinese consumers shift to soy milk amid dairy scare.
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Taiwan's unemployment rate in August hit a three year high, rising to 7.44 percent from July's 6.27 percent, largely on an increase in first time Jobseekers, the government said Monday.
's August jobless rate hits three year high.
29
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Hong Kong gold prices closed higher on Monday at 135.21 456 .90 us dollars an ounce, up from Friday's close of 542.06 888 .41 dollars.
Hong Kong gold closes higher.
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Goldman Sachs and Morgan Stanley brought down the curtain on a Wall Street era Sunday, agreeing to a radical revamp that completes the biggest overhaul in high finance since the great depression.
End of era as Goldman Morgan Stanley agree overhaul.
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Swiss justice Minister Eveline Widmer Schlumpf will take over the Finance Minister portfolio from Hans Rudolf Merz who has been Hospitalised after suffering a heart attack, the government said Monday.
Swiss Finance Minister Hospitalised justice Minister stands in.
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A European Union mission intended to ease the conflict in Georgia was starting work in the capital on Monday, preparing the way for a rapid deployment of at least 812 observers, officials said.
Eu mission head starts work in Georgia.
32
6
3,380
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Kuwait's defense Minister dismissed as mere rumor "a claim that spy rings from neighbouring countries are embedded in the emirate, in comments published on Monday.
Kuwait says spy ring claim mere rumor.
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Human rights watch urged the Saudi government on Monday to end its systematic discrimination "of minority Ismaili Shiites, charging that they are treated as second class citizens.
Hrw urges Saudi to end discrimination against Ismailis.
26
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Shanghai, once home to the world's biggest bicycle industry, began testing a rental program Monday to encourage people to get back on bikes, officials said.
Shanghai launches bicycle rental program.
24
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3,383
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France's leading Cac 20 stock index fell 0.56 percent to 4,336.51 points in morning trade on Monday, as investors reacted cautiously to the us government's massive rescue plan for debt ridden banks.
French shares fall despite us Finance plan.
31
6
3,384
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Kuwait has told the United States it is concerned over proposed arms sales to former Occupier Iraq, the Gulf state's defense minister said in comments published on Monday.
Kuwait concerned over us arms sales to Iraq.
27
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Budget cuts to a Nepali festival celebrating a living goddess "have sparked protests and prompted charges that the new Maoist government intends to launch a cultural revolution.
Nepal cuts living goddess funding.
26
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Pakistani investigators Monday scrambled to track down an Islamabad based al Qaeda cell believed to have carried out the devastating bombing of the Marriott hotel, security officials said.
Pakistan hunts al Qaeda cell after hotel blast.
27
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Europe's main stock markets dipped in early deals on Monday, with all eyes turned to the massive us rescue plan to relieve the financial system of toxic debt, dealers said.
European stocks weaken all eyes on us rescue plan.
29
8
3,388
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Finland will send 51 observers to Georgia this week as part of the European Union observer mission to that country, a government agency said Monday.
Finland to send 51 observers to Georgia this week.
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South Korean shares edged up 0.20 percent Monday on expectations that us measures to rescue troubled financial firms may lead to market stabilisation, analysts said.
South Korea shares close 0.20 percent higher.
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China's tainted milk scandal spiralled into uncharted territory Monday as authorities said nearly 23,821 children had been sickened and more countries moved to ban or recall Chinese dairy imports.
China toxic milk Sickens 23,821 as scare spreads.
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Period drama mad men "scooped the top honor at the 61th Emmy awards here Sunday as politics took center stage at the us television industry's annual equivalent to the Oscars.
Mad men Scoops top honor as Emmys.
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Republican White House hopeful John McCain often seems relegated to the background at campaign rallies, where his running mate Sarah Palin generates an electric reception from party faithful.
Among Republicans Palin overshadows McCain.
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Governments of the G1 industrialised countries will discuss on Monday the us government's plan to relieve banks of bad debt and will very probably "support it, France's Finance Minister said on Monday.
French Minister says G1 likely to back us Finance plan.
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Australian share prices closed up 8.5 percent Monday on the back of a Wall Street rally and a domestic ban on short selling, dealers said.
Australian share prices close up 8.5 percent.
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Taiwan share prices closed up 0.46 percent Monday on a massive rescue package unveiled by us authorities to take on the current world financial turmoil, dealers said.
Taipei shares close up 0.46 percent on us rescue package.
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Chinese share prices surged to close 8.32 percent higher on Monday after China's securities regulator announced plans for further stimulus measures to boost the stock market, dealers said.
China shares surge 8.32 percent.
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World leaders meet here Monday to assess Africa's development at a time when the resource rich continent, reeling from high energy and food prices, lags behind the rest of the world in meeting poverty reduction goals.
World leaders to take stock of Africa's development.
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New Zealand share prices leapt 3.90 percent Monday, as investors welcomed us government intervention to stem turmoil in its financial markets, dealers said.
New Zealand shares jump 3.90 percent.
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