United States

Clinton assures Iraqis of US support despite withdrawal

US Secretary of State Hillary Rodham Clinton Baghdad - US Secretary of State Hillary Rodham Clinton assured Iraqis on Saturday that both their countries were partners and that the US would continue to support them even as it withdrew combat troops. "Our strategy working with you may be a new phase, but I pledge our full and continuing commitment to Iraq and the Iraqi people," Clinton said in a press conference with her Iraqi counterpart Hoshyar Zebari, at the end of her one-day unannounced visit.

World Bank pushes infrastructure aid for poor countries in crisis

World Bank pushes infrastructure aid for poor countries in crisis Washington - The World Bank Saturday said it would pump up to 55 billion dollars into infrastructure projects for poorer countries struck by a severe global recession that was not of their making. The development bank's three-year investment is intended to counterbalance a dramatic plunge in help from the private sector. Many investors have pulled out of developing countries amid a devastating financial crisis that began in the US and Europe and quickly took hold of the world economy in the past six months.

IMF seeks more funds in crisis as finance ministers meet

International Monetary FundWashington - The International Monetary Fund and World Bank began their annual spring meetings Saturday in the midst of a deep global recession, seeking more funds and aid to help countries that can't manage the economic crisis on their own. The IMF, whose decision-making board was meeting Saturday, is hoping to win new pledges from countries for funds. Leaders at the Group of 20 (G20) summit in London promised 500 billion dollars for the IMF's lending resources, which would triple its existing budget.

NYSE-listed Covidien to enter Indian Healthcare Market

NYSE-listed Covidien to enter Indian Healthcare Market Covidien, a $10 billion global healthcare products leader, has announced its entry into the Indian healthcare market with the establishment of its headquarters at Gurgaon.

The company intends to collaborate with the region's healthcare providers to offer its cutting-edge medical solutions and services throughout the country.

According to sources, Covidien will setup three 'dry labs' this year to initiate training programmes for medical practitioners in the country. In addition, it will also introduce some of its patented products in India.

The proposed US visa curbs to affect Indian IT firms; evoke criticism

IT SectorThe bill introduced by US Senators Mr. Chuck Grassley and Mr. Dick Durbin on Thursday is expected to have grim implications for the Indian IT firms, as it aims at curtailing the use the of H-1B and L1 visas, thereby limiting the competitiveness of the offshore vendors.

The bill proposes to alter the H-1B and L1 visa stipulations in such a way that US employers would be prohibited from employing additional H-1B and L-1 guest-workers in case more than 50 per cent of their workers are H-1B and L-1 visa holders. The implementation of the proposal in its current form could cause a big dent in the profitability of the Indian IT services market.

US plane forced to land in incident with rampaging passenger

Delta AirlinesNew York - A Delta Airlines plane on a flight from New York to Tel Aviv was forced early Saturday to make an emergency landing in Boston after a passenger sought to force his way into the cockpit, the local television channel WCVB reported. The report said that some 2 hours after the fully-loaded Boeing 767 plane took off, a man tried to storm the cockpit.

Five passengers managed to overpower him and keep him tied down with a safety belt until the plane could land at Boston's Logan airport.

The man was described as a 22-year-old Israeli.

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