Sunday, December 21, 2008

20-12-2008 (Saturday)

1.Macau - 9th Anniversary of Macao and Republic of China, where Macau return to China.

2. Taiwan - Taiwan spread H5N2 disease.

3. US- Multi-billion dollar aid package for US carmarkers. The US government is to provide 17.4bn in loans to help General Motors and Chrysler survive.
The US government will use part of the $700bn originally pledged to rescue US banks to aid the car industry. It has set a deadline of 31 March for the firms to become viable.

General Motors will get $9.4bn and Chrysler $4bn before the end of the year. A further $4bn will be provided later to GM.

Ford has said it hopes to get by without government help.

Bush said "in the mist of financial crisis and the recession, allowing the US car marker industry orderly to collapse is not the responsible cause of action"

Obama said "the car industry must bring all the stakeholders together, including labors, dealers, creditors and suppliers, to make the hard choices necessary to achieve long-term viability."


The US government will use part of the $700bn originally pledged to rescue US banks to aid the car industry. It has set a deadline of 31 March for the firms to become viable.

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