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Weekly news


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Weekly news

  1. 1. Weekly news (21st to 27th November, 2010) Submitted by: Prabhjot kaur
  2. 2. Deal clinched on Irish bailout, EU set to sign off European ministers are expected to sign off on an 85 billion euro ($115 billion) rescue for Ireland on Sunday, making it the second euro zone country to receive a bailout in Europe's crippling debt crisis. Finance ministers from the 16-nation euro zone will meet in Brussels from 1 p.m. (1200 GMT) to sign off on Ireland's emergency loan package, which they hope will help Dublin cover bank debts and bridge a massive budget deficit, while also preventing the debt contagion spreading to Portugal and Spain. Official: Dubai won't need new debt bailout A senior Dubai fiscal planner says he doesn't foresee the need for another debt bailout by the sheikdom's oil-rich neighbour Abu Dhabi. Ahmed Humaid Al Tayer suggested Sunday that Dubai has made strides to restructure its debt-ridden companies and no longer will need outside help to meet debt payments.
  3. 3. US rejects talks with WikiLeaks The United States on late Saturday rejected talks with WikiLeaks over its planned release of confidential US documents, saying the whistle-blower website was holding them in violation of US law. The US State Department set out its position in a letter to WikiLeaks founder Julian Assange and his attorney that was released to the media. Qantas grounds Boeing 747 after engine failure Australian carrier Qantas, beset by a series of incidents, grounded another Boeing 747 after an engine failure. The flight, QF1 from Sydney to London, was due to leave last night but passengers were pulled off the plane after a loud noise emanated from the engine while they were taxiing towards the runway
  4. 4. US asks WikiLeaks to return all classified material The US has refused to enter talks with the whistle-blower website WikiLeaks over its planned release of millions of classified documents and asked it to return the "illegally obtained" papers, the leak of which would "endanger the lives of countless individuals." Montek among probables for next IMF chief Top Indian policy planner Montek Singh Ahluwalia figures among the probable to succeed Dominique Strauss-Kahn as the next chief of International Monetary Fund. Noting that the clout and role of the international lender has increased substantially in the emerging markets, US daily New York Times reported that someone from the developing world was likely to succeed IMF Managing Director Dominique Strauss-Kahn.
  5. 5. N.Korea readies missiles as US, South Korea begin drill North Korea has placed surface-to-surface missiles on launch pads in the Yellow Sea , Yonhap news agency reported on Sunday, as the United States and South Korea began joint military exercises. The agency said also that Pyongyang had moved surface-to-air missiles to frontline areas. The North's offical KCNA news agency warned of retaliatory action if its territory was violated. General Motors $23 bn IPO world's biggest General Motors Co's underwriters exercised their full overallotment option, making the initial public offering of the US automaker the biggest in the world, at $23.1 billion. The underwriters, led by Morgan Stanley, JPMorgan Chase & Co, Bank of America Merrill Lynch and Citigroup Inc, exercised their option on an additional 71.7 million shares worth $2.37 billion
  6. 6. Thank you