Washington - President Barack Obama's administration, in a massive overhaul of the US financial regulatory system, is seeking the power to keep watch on all types of financial firms and to seize failing companies integral to the health of the system.

US Treasury Secretary Timothy Geithner unveiled the plans in congressional testimony on Thursday, arguing that the current financial turmoil has proven the system is "too unstable and fragile" to be allowed to manage itself.

Vaduz, Liechtenstein - Liechtenstein has started negotiations with Germany and other countries and would begin talks with Britain next week as part of its pledge to rework tax agreements to fight tax evasion.

Klaus Tschutscher, the new prime minister of the Alpine principality, said his government would move to conclude Tax Information Exchange Agreements meeting the Organisation for Economic Co-operation and Development (OECD) standards.

Nairobi - As many as 750 people have died this month in South Sudan during clashes over cattle rustling, worsening the security situation and preventing refugees from returning, according to the United Nations.

A statement available on the UN Refugee Agency UNHCR website on Thursday said that fighting between the Nuer and Murle ethnic groups in Jonglei state, sparked by cattle rustling raids, was still spreading.

Geneva - A court in Switzerland ruled Thursday that value added tax must be paid for all things sold, even prostitution, dismissing a claim by a brothel owner.

The owner, who was told by the tax authorities to pay 95,000 Swiss francs (84,640 dollars) in VAT on the services she proffered, claimed the government could not tax "immoral" acts.

Moscow - Russia on Thursday expressed fear the Czech premier's resignation, midway through the country's EU presidency, would "break up" an EU-Russian summit set for May 21-22.

"We very much hope that the Czech domestic political situation does not effect the speed and intensity of the talks between Russian and the EU and does not breakup the full agenda set for the period of the Czech EU presidency - above all at the EU-Russia summit," deputy foreign minister Andrei Nesterenko told journalists.

Moscow - Russia's Foreign Minister Sergei Lavrov said Thursday that an international conference on Afghanistan hosted by Moscow would help coordinate global efforts to stabilize the country.

"These (meetings) are directed at increasing the effectiveness of the international cooperation and in its action to support the Afghan leadership's struggle against the threat of terrorism and drug-trafficking," Lavrov was quoted by news agency Itar-tass as saying after talks with his Kyrgyz counterpart.