Sunday, December 14, 2008

13-12-2008 (Saturday)

1. HK - Two "acid" bottles were throw from a high-rise building into a busy street (Tong Choi Gai) in HK causing forty-six people were injured. Police searched the building, but no arrests were made following incident late on Saturday.

2. China, Japan, South Korea - The leader of three of Asia's biggest economies have vowed to work closely together during a meeting in Japan to reduce the damaged caused by the global financial crisis. Mr Wen, Japanese PM Taro Aso, South Korean Presiden Lee Myung-bak in southern city of Fukouka.

The countries planned to increase amount of money to swapped between them.
It is a move which benefit South Korea especially, as the won has lost a third of its value since the start of the year.

3. Taiwan - former president of Taiwan, Chen Sui-bian is released from jail. Ex-president and his wife were charges include forgery and money laundering. Chen was jail since 12 november while prosecutors probed his affairs, was later released on bail.
He denied any wrongdoing, and he said that his is being persecuted by his successors for his anti-China stance.

4.US - The White House says it is considering using money earmarked to rescue the US banking industry to bail out the country's struggling carmakers.

president-elect barack obama said he was disappointed that the Senate failed to act. millions of jobs rely directly or indirectly on a viable auto industry.

The big three -Chrysler, General Motors, Ford, employ more than 250,000 people directly and many more indirectly, in companies making auto parts and car dealerships.

Shares fell sharply around the world after the bail-out was rejected - with carmakers among the hardest hit.

the three US auto companies need to be seriously restructured in order to survive.

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