Bussiness n World News

Dominican Republic President Leonel Fernandez fired 700 police officers Sunday and forced the retirement of 31 military and police generals, two days after he promised in a state-of-the-nation speech to cleanse the government of corruption. While Fernandez, who was on a state visit to Cuba on Monday, didn't state a reason, the dismissals came as the government has announced that more than 535 members of the nation's 24,000-strong military have been forced out in the past six months due to their suspected involvement in the drug trade. Among the generals forced to retire was the former head of the nation's top anti-drug agency, the Dominican National Drug Control, known by its Spanish acronym DNCD. In his speech Friday, Fernandez said, "In the Dominican Republic -- listen well -- narcotrafficking will not pass." Despite the president's strong words, many Dominican citizens and outside analysts say narcotrafficking has already taken hold. "The situat...

(CNN) -- The United States has offered more than $900 million to help the Palestinian people, particularly those in Gaza, Secretary of State Hillary Clinton announced Monday. U.S. Secretary of State Hillary Clinton attends Gaza donors conference in Egypt on Monday. ...

BEIJING, China (CNN) -- When China's legislature opens its annual session this week, the focus will be on jobs, the economy and social stability. Delegates have begun to gather for China's annual meeting of its National People's Congress. Every year, over 3,000 delegates to the National People's Congress meet in Beijing to review draft laws and vote on government budget and policies. Delegates come from central and local governments, the military and police, including ethnic minority representatives, who typically show up in their traditional costumes. In the past, the NPC has been dismissed as...

Climate protesters demonstrating against Donald Trump's plans for a sports resort broke into a Scottish airport Tuesday, setting up a small golf course and scaling the roof of a terminal building. Climate protesters broke into Aberdeen Airport in the early hours of Tuesda...

Gas demand goes up 10 pc annually Updated at: 0725 PST, Tuesday, March 03, 2009 KARACHI: Demand for gasoline consumption is going up by 10 percent annually here in Pakistan; experts said adding it is necessary to find new oil and gas reservoirs to meet the rising demand. In a report on energy in Pakistan, it is stated that country’s daily gas demand was 4731 mmcfd while locally we produce 4528 mmcfd. Pakistan remain short of 203 mmcfd gas daily while mere 17 percent of the total population have access to gas in country.

US offers new $30 bln bailout package to troubled AIG Updated at: 0121 PST, Tuesday, March 03, 2009 WASHINGTON: The US government Monday unveiled a fresh rescue plan worth 30 billion dollars to help AIG stave off collapse as the ailing insurer revealed the biggest loss in American corporate history. The revamped bailout came as American International Group announced a quarterly loss of 61.7 billion dollars -- the biggest ever for a US firm in one quarter -- pushing up its net loss for 2008 to 99.3 billion dollars. The government, which had already pumped some 150 billion dollars into AIG, said the restructured aid package sought to avert a potentially catastrophic collapse of what had been the world's biggest insurer. Officials said a failure at AIG could send new shockwaves through an economy already ravaged by recession. "Given the systemic risk AIG continues to pose and the fragility of markets today, the potential cost to the economy and the taxpayer of government ina...

Oil prices recover in Asian trade Updated at: 1313 PST, Tuesday, March 03, 2009 SINGAPORE: Oil prices recovered slightly in Asian trade Tuesday after falling earlier on fresh financial turmoil, analysts said. New York's main futures contract, light sweet crude for April delivery, gained 25 cents to 40.40 dollars a barrel in afternoon trade. Brent North Sea crude for April was up 17 cents to 42.38 dollars per barrel. Oil prices had risen last week in anticipation of increasing demand for motor fuel and indications of output cuts by the Organisation of the Petroleum Exporting Countries (OPEC), traders said.