Home > News > News in Brief: 30 September 2008

News in Brief: 30 September 2008

A brief list of news for the day:

Bush appeals to Congress to reverse bail-out rejection. President Bush has warned Congress that the US economy will get worse by the day unless lawmakers think again about their rejection of a $700bn emergency package to rescue the struggling banking industry. (Guardian)

Japan Feels Effects of Wall Street Turmoil. Wall Street’s plunge jolted Japan on Tuesday, as dismal new data here showed that the world’s second largest economy, already contracting, has almost certainly fallen into recession. (Washington Post)

Irish government guarantees all bank deposits. Ireland’s government said on Tuesday it would guarantee all bank deposits for two years to maintain financial stability amid international market turmoil that has hit Irish bank shares particularly hard. (Globe and Mail/Reuters)

European Governments Rescue Another Failing Bank. The French and Belgian governments stepped in to rescue another failing European bank Tuesday as the turmoil that began on Wall Street continued rippling across the globe. (Washington Post)

India, France sign nuclear cooperation deal. France and India on Tuesday signed a major nuclear cooperation pact which opens the way for the sale of French nuclear reactors to New Delhi. (Times of India)

Pakistan Picks New Chief For Intelligence Agency. The Pakistani government has selected a new chief for its powerful intelligence service, the ISI, replacing a figure the Bush administration has long suspected of ties to Taliban extremists and other militant groups in the Pakistan-Afghanistan border area. (Washington Post)

Afghan warlord Hekmatyar claims attack on French troops. Afghan insurgent leader Gulbuddin Hekmatyar has claimed responsibility in a video message for an August ambush that killed 10 French soldiers, an Afghan news agency reported Monday, saying it had seen the footage. (The Daily Star/AFP)

. The fight goes on, militants tell PakistanThe Taliban have officially rejected a Saudi Arabian-British backdoor initiative for Islamabad to strike peace deals with militants in Pakistan. The Taliban realize the aim is to separate them from al-Qaeda, and are having none of it. (Asia Times)

Karzai Seeks Saudi Help With Taliban. As the Afghan war intensifies and American commanders call for increased troop levels, President Hamid Karzai said on Tuesday that he had sought the intercession of the Saudi royal family to bring the resurgent Taliban to peace negotiations. (New York Times)

Bush had no plan to catch Bin Laden. New evidence from former United States officials reveals that Osama bin Laden and other al-Qaeda leaders were able to skip Afghanistan for Pakistan unimpeded in the first weeks after September 11, 2001, as the George W Bush administration failed to plan to block their retreat. (Asia Times)

Why the US is losing in Afghanistan. The situation in Afghanistan has now deteriorated steadily for more than five years, an assessment the US intelligence community has agreed to in its latest analysis of the war. The North Atlantic Treaty Organization (NATO) commander in Afghanistan, General David McKiernan, has noted that violence was at least 30% higher in September 2008 than in September 2007. (Asia Times)

Russia may boost OPEC clout, raise oil risk premium. Closer cooperation between OPEC and Russia, which between them supply half the world’s oil, could see a bigger political risk premium priced into oil and add more muscle to the producer group’s output policy. Russia’s desire for deeper cooperation with OPEC comes as its relations with the West have deteriorated over issues such as the conflict in Georgia. (Reuters)

Baghdad set to take over control of Sunni militias from Washington. The US military is scheduled to begin handing over control of 100,000 Sunni militiamen to Iraq’s Shiite-led government this week. (The Daily Star/AFP)

Turkey Pushes for More Nagorno-Karabakh Talks amid Warming Ties with Armenia. Turkey is sponsoring additional Armenian-Azerbaijani negotiations on the unresolved Nagorno-Karabakh conflict in an apparent effort to hasten the normalization of its historically strained ties with Armenia. (Eurasianet)

Ecuador’s Correa gets wider powers after vote. Ecuador’s President Rafael Correa has a clear mandate to extend the state’s grip over the economy, install leftist reforms and seek re-election after his easy win in Sunday’s referendum on a new constitution. (Today’s Zaman)

Iran shelves plans to open TV station in Bolivia. Iran has dropped a plan to open a television station in Bolivia and is now negotiating a content-sharing deal between the allies’ state broadcasting companies, Iran’s top diplomat in this South American country said Monday. (Gulf News/AP)

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