Reykjavik  - Iceland was Monday expecting to reach a quick deal with German depositors in Kaupthing Bank, one of the North Atlantic nation's three main banking groups that recently collapsed over the global credit crunch.

Kaupthing had some 30,000 customers in Germany.

Late Sunday, Iceland said it had agreed to reimburse British and Dutch depositors of failed internet bank Icesave, operated by the collapsed Landsbanki Bank.

The compensation agreed for the British and Dutch depositors was 20,000 euros (25,300 dollars).

Dhabi, Nov. 17th, 2008--The recommendations made by the G20 leaders on the global financial crisis on Saturday appear typical and orthodox. The talk of 'prompt action to boost economic growth and stabilise global financial markets by supporting major fiscal stimulus plans', is not backed by the commitment and vigour needed to tackle such a situation.

Tokyo - Japan's economy shrank at an annualized rate of 0.4 per cent in real terms in the July-September period, the government said Monday.

The gross domestic product (GDP) fell 0.1 per cent during the three months from the previous quarter, marking the second quarterly drop, the Cabinet Office said.

Looking at the GDP for the July-September quarter, Japanese Economic and Fiscal Policy Minister Kaoru Yosano said Monday that the nation's economy is in a recession, which means that it shrank two quarters in a row.

Tokyo  - Japan's economy shrank at an annualized rate of 0.4 per cent in real terms in the July-September period, the government said Monday.

The gross domestic product (GDP) fell 0.1 per cent during the three months from the previous quarter, marking the second quarterly drop, the Cabinet Office said.

Looking at the GDP for the July-September quarter, Japanese Economic and Fiscal Policy Minister Kaoru Yosano said Monday that the nation's economy is in a recession.

Hong Kong  - Children are being pulled out of Hong Kong's top international schools in unusually high numbers as the global slump forces expatriates to quit the city, a news report said Monday.

Up to 50 students have left each of the wealthy city's most prestigious fee-paying international schools in recent months as expatriates are recalled, the Hong Kong Standard said.