Word: reports
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...Seoul's decision to guarantee external debt incurred by South Korean banks was cheered by market analysts. Goldman Sachs noted in a report that the package - which totals some 13% of Korea's GDP - will "go a long way toward stabilizing the jittery financial markets in Korea." Fitch Ratings added that "these measures will ensure sufficient U.S. dollar liquidity to the banking system and real economy." Investors responded positively, but cautiously. The benchmark Kospi stock market index rose 2.3% on Monday, while the won gained 1.4% against the dollar...
...international investors and holiday makers that Dubai relies on for its real estate and tourism developments. Even before the global crunch, banks in the United Arab Emirates (UAE) were being hit this year by an outrunning stampede of billions of UAE dirhams - so-called hot money that one report valued at $55 billion - led by speculators giving up on hopes that the country would de-peg its currency from the U.S. dollar...
...those of us who follow the news and try to report it, these kinds of circumstances are dispiriting. Political assassination is almost routine. Sometimes I feel it is carried out without any real strategy: either out of spite or to enforce the creeping authoritarianism of the status quo, to remind society of where things stand. The assassins and the powers behind them are on automatic; the ordinary citizen has now learned not to be surprised. Saddened, yes. Shocked...
...wife of Pesat (who is on a respirator and unable to talk) told TIME that her husband "remembers this clearly. Kundera was not involved. Dlask sought my husband out and told him this." She offered no explanation for why Kundera's name would have appeared in the police report...
...Enter China. With nearly $2 trillion amassed in foreign currency holdings, China's government had the largesse this week to grant Zardari an immediate soft loan of upwards of $1 billion, according to a report in the Financial Times. "As a long friend of Pakistan, China understands it is facing some financial difficulties," said Chinese Foreign Ministry spokesman Qin Gang at a briefing with journalists on Oct. 16. Other new measures include the increase of access Pakistani goods will have in China's markets as well as agreements to launch special economic zones within Pakistan with tax incentives for Chinese...