United States

Dutch insurer Aegon says it invested in failed US bank

Lehman Brothers Amsterdam - Dutch insurance company Aegon annou

US Congress prepares to vote on financial bailout

Washington  - The US House of Representatives could vote later Monday on a massive deal to rescue the US economy from the brink of financial meltdown.

Legislators forged an agreement Sunday on the measure, which is intended to thaw out frozen credit lines with the government purchase of soured mortgage securities. A vote in the Senate could be held later this week.

Details of the deal emerged throughout the day Sunday.

During week-long negotiations on the 700-billion-dollar proposal, legislators reduced the initial cost to 350 billion dollars with the remainder to be authorized later.

Meet John McCain the puppy, and Sarah Palin the moose!

John McCain and Sarah PalinNew York, September 29: U. S. Republican presidential candidate John McCain and his running mate Sarah Palin have been depicted as animals in an artwork.

Created by Tim Rollings in just a couple of weeks, the piece features Palin's face on the body of a moose and that of McCain on the body of a puppy.

"She even looks halfway decent as a moose," the New York Daily News quoted one art lover as commenting.

The artwork is on display at the Pratt Manhattan Gallery through December.

US, NATO drones continue Pak-Afghan border violations

Mamond Agency, Sept 29: Despite unhappiness expressed by Pakistan over US’ air strikes over the past few weeks, the US and NATO spy planes and helicopters continued to violate Pakistan’s airspace on Sunday.

According to a private TV report, the US drones were seen flying over Mamond and areas of North and South Waziristan causing panic among local people.

Besides, two NATO helicopters were also seen hovering over Chaman near the Pak-Afghan border, the Daily Times quoted the TV report as saying.

Following these two incidents, the Frontier Corps (FC) personnel were placed on high alert, even as FC sources said that NATO helicopters had not crossed the border at Chaman, but were seen flying over the border.

Hong Kong officials welcome US economic deal but market is muted

US DollarsHong Kong - Hong Kong officials Monday welcomed the bailout deal for the US economy but questioned whether the 700 billion US dollars in the package will be enough to revive global money markets.

Hong Kong's financial secretary John Tsang said he hoped the rescue package could be implemented quickly so that it would stabilize not only the US economy but the global financial system.

Hong Kong Monetary Authority chief executive Joseph Yam said the plan would reduce the danger of further failures of financial institutions in the US.

18 die in Peru bus accident

PeruLima - In the north of Peru a tour bus plunged 150 metres down into a ravine

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