Latvia’s economy has shrunk at the fastest rate since the early 1990s, when it split from the Soviet Union, the statistics office has estimated. Gross domestic product (GDP) fell 10.5% in the last quarter of 2008 from the same period a year earlier. The Latvian economy had been booming for several years, driven by consumer [...]
North Korea has announced that it is preparing to launch a rocket carrying a communications satellite, but without giving an indication of a date. It said the launch would mark a great step forward for the communist state. Correspondents say the statement is Pyongyang’s clearest reference yet to what neighbours believe may be the imminent [...]
It only seems like Barack Obama has been president forever. Actually, as of today, he’s been in office for exactly one month. Granted, with 47 months to go in his term, it’s too soon to render a verdict on the Obama presidency. But surely a few early reflections on the Obama Revolution in Washington are [...]
Groundbreaking Sanskrit mantras from ancient Hindu scriptures reverberated in Indiana House of Representatives in Indianapolis today, reportedly for the first time since its formation in 1816. Acclaimed Hindu statesman Rajan Zed read this prayer. Senators and others stood quietly in prayer mode with heads bowed down, when Zed recited from ancient Sanskrit scriptures after sprinkling [...]
President Obama was hit with another wave of grim financial news yesterday, amid signs that his Administration is in danger of being overwhelmed by the scale of the economic crisis. As he outlined a $75 billion (?52 billion) plan to halt home repossessions across America, evidence emerged of the enormous struggle Timothy Geithner, the Treasury [...]
In a remarkable interfaith gesture, faith leaders from different religions and denominations got together on February 13 to pray and bless the students of prestigious Bishop Manogue Catholic High School in Nevada (USA). Participants included acclaimed Hindu statesman Rajan Zed, Buddhist priest Reverend William Bartlett, Rabbi Myra Soifer, Head Bishop of International Community of Christ [...]
Less than a month in office, President Barack Obama has scored a key legislative win. A $787 billion stimulus bill has cleared Congress. It’s hoped the massive package will help stave off the effects of the worst economic downturn since the Great Depression. It cleared the Senate 60-to-38. Friday night’s winning vote came just before [...]
WASHINGTON — JPMorgan Chase & Co. and Citigroup Inc. are expanding their efforts to halt home foreclosures while the Obama administration develops its plans to help the U.S. housing market. JPMorgan Chief Executive Jamie Dimon said the New York company plans to halt new foreclosures for owner-occupied home loans through March 6. Dimon made the [...]
The biggest players in the mortgage industry are halting home foreclosures while the Obama administration develops its plan to help struggling homeowners. The White House said President Barack Obama on Wednesday will outline his much-anticipated plan to spend at least $50 billion to prevent foreclosures in a speech in Arizona, one of the states hardest [...]
BISHKEK – As the shock of Kyrgyzstan’s announcement that the United States air base near the capital Bishkek is shutting down subsides, some analysts are doubtful that a rapid withdrawal of American forces is imminent. Opponents of President Kurmanbek Bakiev accuse him of trading the US military presence in return for financial support from Russia. [...]
