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Nicolas Sarkozy to sue publisher over voodoo doll

French President Nicolas SarkozyParis - French President Nicolas Sarkozy is going to court to force a French publisher to take off the market a voodoo doll in his image, French media reported on Thursday.

The doll, 20,000 of which went on sale on October 9, comes with a manual and a dozen pins that can be stuck through well-known quotes of his - such as "Work more and earn more," or "Bugger off, you ass" - which are printed on the doll.

Bulgaria offers troubled mill to India-born magnate Lakshmi Mittal

Sofia - The Bulgarian government on Thursday invited the world's largest steel concern, Arcelormittal, to take over the troubled Kremikowtzi mill.

"It is one of the world's best-known enterprises," Economy and Energy Minister Petar Dimitrov said, announcing the decision to call in the company of the India-born billionaire Lakshmi Mittal.

Lakshmi's younger brother, Pramod, already owns the majority stake

in the debt-ridden Kremikovtzi mill, near the capital Sofia, which went bankrupt in August.

Dimitrov said however that the government is negotiating the sale of its 25-per cent stake in Kremikovtzi with "other domestic and foreign candidates."

Singapore and Karachi bourses to collaborate

Singapore - Singapore Exchange Limited (SGX) and Karachi Stock Exchange (KSE) have signed a memorandum of understanding (MoU) to collaborate for the benefit of the financial services industries in Singapore and Pakistan, officials said Thursday.

The MOU aims to foster a closer relationship between the two exchanges.

The pact, which was signed in Singapore on Wednesday, includes sharing best practices regarding each exchange's products as well as the operation and governance of their respective markets.

"This MoU fosters a closer relationship between the two exchanges. We look forward to working with KSE to help develop our respective financial markets," said SGX chief executive officer Hsieh Fu Hua.

Asia must join response to financial crisis, EU says

Beijing - Major Asian economies Japan, China and India must play a full role in overcoming the global financial crisis, European Commission President Jose Manuel Barroso said on Thursday.

"We need to take the lessons of the crisis for reform of the global financial system," Barroso told reporters ahead of a summit of Asian and European leaders.

"We need Asia on board," he said, adding that the participation of China, India and Japan was vital for a global solution to the crisis.

"Apart from the financial dimensions of the crisis, there are major imbalances in global trade," Barroso said.

Singapore shares drop further

Singapore - Singapore shares came under another round of selling pressure Thursday, mostly in line with the downward trend among other Asian bourses.

The Straits Times Index (STI) fell by 75.46 points, or 4.14 per cent to close at 1745.67, with 341 counters reporting losses and 149 gains.

The STI was down by over 68 points at mid-day, with early morning trade nose-diving. However, trading was more somber from late morning through to the rest of the day.

Thursday's selling was in line with what has been happening at the regional bourses and the continuing reaction of the global financial and economic crisis, said Nancy Wei, head of research at brokerage UOB Kay Hian Pte Ltd.

Iraqi forces take over security detail for Babel province

Baghdad - Iraq's Babel province Thursday took over its own, Iraqi-led security duties from the Multi-National Forces (MNF).

"Taking responsibility for Babel province shows that the Iraqi forces are capable of taking control of their own security and fighting terrorism," National Security Adviser Mowaffaq al-Rubaie said during the handover ceremony.

US soldiers were present at the ceremony along with high-ranking Iraqi officials and clan chiefs. No other nationalities were present. The mostly Shiite province is the 12th to receive its security file.

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