- The EU agreed to an 85 billion euro bailout for Ireland, making it the second country after Greece to receive assistance to deal with bank debts and budget deficits in order to prevent the debt crisis from spreading. - A senior Dubai official said Dubai has restructured its debt-ridden companies and does not foresee needing another bailout from Abu Dhabi. - The US rejected talks with WikiLeaks over its planned release of confidential US documents, saying WikiLeaks was holding the documents illegally under US law. - Qantas grounded a Boeing 747 after an engine failure on a flight from Sydney to London.

1. Weekly news
(21st to 27th November, 2010)
Submitted by:
Prabhjot kaur

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. 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. 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. 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. Thank you