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Asian stocks close mostly up on Lehman Brothers hopes
Asian stocks closed mostly higher on Friday as dealers took a lead from Wall Street on hopes that troubled US bank Lehman Brothers could find a suitor.
The Tokyo bourse rose almost 1 per cent, despite the economy posting its sharpest contraction in nearly seven years during the last quarter. The world's second largest economy shrank at an annualised 3.0 per cent in the three months to June, the sharpest drop since a 4.5 per cent fall in the quarter through September 2001.
But dealers were more concerned about developments on Wall Street after a report that Bank of America was among companies in talks to salvage Lehman, which badly needs a boost after massive mortgage-related losses. But investors were cautious ahead of earnings results next week by major Wall Street banks Citigroup, Merrill Lynch and Goldman Sachs on concern they could produce poor results. Lehman also helped to push up Seoul 2.4 per cent, which was also boosted by falling oil prices, and Sydney 1.9 per cent. However, Jakarta slumped 3.5 per cent as investors grew concerned at a weakening ruppiah and Mumbai shed 2.26 per cent amid concerns for local IT companies' profits. Other.
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Uganda rebels ready for peace
Uganda's rebel Lord's Resistance Army vowed on Saturday to sign a final peace deal but warned it will not disarm until
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International Criminal Court arrest warrants for alleged war crimes are "resolved".
LRA spokesperson David Nyekorach-Matsanga said rebel chief Joseph Kony was willing to sign a much delayed peace deal, speaking as military pressure mounts against the northern Ugandan insurgents.
"General Joseph Kony... instructed me to inform the world and announce that the LRA will sign the FPA (final peace agreement)," Matsanga said in a statement issued in the south Sudanese capital Juba where peace talks have been held since 2006 But the
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UN monitors: three million Somalis need aidFAO: 43 % of total Somali population in need of humanitarian assistance until end of year.
NAIROBI - More than three million Somalis will need humanitarian help at least until year's end owing to high food prices and prolonged drought and insecurity in the troubled nation, a UN report warned Friday.
"The unfolding is humanitarian disaster widespread and the level of human suffering and deprivation is shocking," the UN Food and Agriculture Organisation (FAO) warned in a statement.
"The current assessment estimates that 3.25 million people, representing 43 percent of the total population of Somalia, will need humanitarian assistance at least until the end of the year, which is a 77 percent increase since January 2008," according to figures compiled by the Food Security Analysis Unit, part of the FAO. . The dire
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USM and IBM team up to offer master’s course
UNIVERSITI Sains Malaysia (USM) in collaboration with IBM Malay- sia Sdn Bhd will start an execu- tive MBA programme on service science, management and engineering (SSME) for the next academic session.
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ts vice-chancellor Prof Tan Sri Dzulkifli Abdul Razak said the university had been working with IBM for some time on this programme which is the first of its kind in the country. A memorandum of .. | |
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