Tokyo - Japan's industry output suffered a record fall in November, as unemployment numbers rise and slowing inflation rates raised deflation fears, officials said Friday.
The Minstry for Economy, Trade and Industry said production dropped by 8.1 per cent compared to the previous month, the largest drop on record since 1953, as foreign demand in cars or electronic goods plunged, dealing a heavy blow to Japan's export-oriented industry.
Moscow - The world financial crisis has forced Russia's parliament, the Duma, to cancel its traditional caviar and champagne fuelled year-end reception, it was disclosed Monday.
The parliamentary leadership announced that the need to curb spending prohibited the usually lush affair for this year, which had been planned for December 26, the Interfax news agency reported.
Taipei - Taiwan, hit by recession and a rising jobless rate, may cut the number of foreign workers in an effort to provide jobs to Taiwanese, a newspaper said on Monday.
The Liberty Times quoted Tsai Hsun-hsiung, minister without portfolio, as saying that Taipei is studying the possibility of tightening the quota for foreign workers, a move that could create 70,000-80,000 jobs for Taiwanese.
Washington - US vice president-elect Joe Biden warned in a television interview that the economy is in danger of "absolutely tanking."
"The economy is in much worse shape than we thought it was in," Biden told ABC News in an interview to air Sunday morning. He called for an economic stimulus package of 600 billion to 700 billion dollars.
"There is no short run other than keeping the economy from absolutely tanking. That's the only short run," Biden said according to excerpts made public before the broadcast.
Washington - International Monetary Fund Managing Director Dominique Strauss-Kahn detailed a stabilization package agreed Friday between the international crisis lender and the Latvian government.
In a statement issued from IMF headquarters in Washington, Strauss-Kahn said that the stabilization package would still require fast-track approval from IMF management and the agency's executive board.
The total multinational stabilization package is 7.5 billion euros (10.5 billion dollars), he said.
Tokyo - Stocks in Tokyo gained ground Friday despite a government report saying industry output recorded its sharpest fall in history.
Tokyo - Japan's industry output suffered a record fall in November, as unemployment numbers rise and slowing inflation rates raised deflation fears, officials said Friday.
Moscow - The world financial crisis has forced Russia's parliament, the Duma, to cancel its traditional caviar and champagne fuelled year-end reception, it was disclosed Monday.
Washington - US vice president-elect Joe Biden warned in a television interview that the economy is in danger of "absolutely tanking."
Washington - International Monetary Fund Managing Director Dominique Strauss-Kahn detailed a stabilization package agreed Friday between the international crisis lender and the Latvian government.
