Egypt's Mursi to meet IMF aide on $4.8bln loan request: newspaper

CAIRO (Reuters) - A senior official in the International Monetary Fund (IMF) will meet Egyptian President and other top officials on Monday to discuss Cairo's request for a $4.8 billion loan, a major state-run Egyptian newspaper reported on Saturday.The IMF loan is seen as crucial to easing Egypt's budget deficit and an economic slump caused by the turmoil that followed the popular uprising that...

Read More..

Merkel highlights economy in German election year

BERLIN (AP) — Chancellor Angela Merkel highlighted Germany's economic strength as she kicked off campaigning Saturday for an important state vote that comes months before national elections, and she brushed aside worries about the weakness of her party's coalition partner.Merkel's center-right party faces a tough battle to extend its 10-year hold on Lower Saxony state, a northwestern region of 8...

Read More..

Obama says U.S. can't afford more showdowns over debt, deficits

HONOLULU (Reuters) - Fresh from the long legislative fight to prevent a "fiscal cliff" of tax hikes and spending cuts, President Barack Obama warned on Saturday that the United States could not afford further budget showdowns this year or in the future.Obama, who returned to Hawaii for a family vacation shortly after the House of Representatives passed a compromise bill on Tuesday, said in his weekly...

Read More..

Selling flak jackets in the cyberwars

SAN FRANCISCO (Reuters) - When the Israeli army and Hamas trade virtual blows in cyberspace, or when hacker groups like Anonymous rise from the digital ether, or when WikiLeaks dumps a trove of classified documents, some see a lawless Internet.But Matthew Prince, chief executive at CloudFlare, a little-known Internet start-up that serves some of the Web's most controversial characters, sees a business...

Read More..

U.S. drops China's Taobao website from "notorious" list

WASHINGTON (Reuters) - The United States on Thursday dropped a website owned by China's largest e-commerce company, Alibaba Group, from its annual list of the world's most "notorious markets" for sales of pirated and counterfeit goods.Taobao Marketplace, an online shopping site similar to eBay and Amazon that brings together buyers and sellers, "has been removed from the 2012 List because it has undertaken...

Read More..

Online gambling companies struggle to clear EU hurdles

LONDON (Reuters) - A partnership stuck on Friday between bwin.party Digital Entertainment and a Belgian casino group has defused one of many disputes pitting online gambling companies against governments across Europe.The agreement came a month after bwin.party's co-CEO was questioned by Belgian authorities in an escalating license dispute the company said was costing it 700,000 euros ($916,000) in...

Read More..

Internet regulation seen at national level as treaty talks fail

SAN FRANCISCO (Reuters) - The world's major Internet companies, backed by U.S. policymakers, got much of what they wanted last week when many nations refused to sign a global telecommunications treaty that opponents feared could lead to greater government control over online content and communications.In rejecting even mild Internet language in the updated International Telecommunications Union treaty...

Read More..

Pope needs help sending out blessing in first tweet

VATICAN CITY (Reuters) - After weeks of anticipation bordering on media frenzy, Pope Benedict solemnly put his finger to a computer tablet device on Wednesday and tried to send his first tweet - but something went wrong.Images on Vatican television appeared to show the first try didn't work. The pope, who still writes his speeches by hand, seems to have pressed too hard and the tweet was not sent...

Read More..

Wall Street sinks after election as "fiscal cliff" eyed

NEW YORK (Reuters) - The Dow industrials lost more than 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as investors' focus shifted to the looming "fiscal cliff" debate and Europe's economic troubles.The Standard & Poor's 500 Index posted its biggest daily percentage drop since June, with all 10 S&P sectors...

Read More..

Coal company announces layoffs in response to Obama win

A coal company headed by a prominent Mitt Romney donor has laid off more than 160 workers in response to President Obama's election victory.Murray Energy said Friday that it had been "forced" to make the layoffs in response to the bleak prospects for the coal industry during Obama's second term. In a prayer circulated by the company, CEO Robert Murray said Americans had voted "in favor of redistribution,...

Read More..

U.S. to Pass Saudi Arabia in Energy Production, IEA Says: Huge Foreign Policy, Economic Implications

A new report by the International Energy Association says the U.S. will become the world's largest oil producer by 2017, overtaking current leaders Saudi Arabia and Russia. U.S. energy policies initiated by the George W. Bush administration and implemented by President Barack Obama have moved the U.S. toward energy independence and away from Middle East energy sources. U.S. oil production has risen...

Read More..

Eurozone back in recession in Q3

LONDON (AP) -- The 17-country eurozone has bowed to the inevitable and fallen back into recession for the first time in three years as a sprawling debt crisis took its toll on the region's stronger economies.And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the...

Read More..

Are We Regulating Ourselves Back Into Recession?

Let us put an end to self-inflicted wounds," President Gerald Ford told Congress in 1975. "And let us remember that our national unity is a most priceless asset." While Ford was talking about the scars from the Vietnam War, his words seem relevant today. Our nation grapples with not one divisive issue, but a basket of them, each pulling and undermining our already battered confidence, while testing...

Read More..

Israeli-Palestinian clashes erupt in West Bank

TAMOUN, West Bank (AP) — An arrest raid by undercover Israeli soldiers disguised as vegetable vendors ignited rare clashes in the northern West Bank on Tuesday, residents said, leaving at 10 Palestinians wounded. Israeli army raids into Palestinian areas to seize activists and militants are fairly common. The raids are normally coordinated with Palestinian security forces, and suspects are usually...

Read More..

Ten crushed to death, 120 injured at Angola church event

Ten people were crushed to death and 120 injured in the Angolan capital Luanda as they tried to enter an overcrowded stadium for a vigil organized by a Pentecostal church, the state news agency Angop reported on Tuesday. Angop cited an emergency services spokesman as saying the victims, including four children, were crushed at the gates of the Cidadela Desportiva stadium, where the Universal Church...

Read More..

Iraq PM warns Sunni protesters, makes small concession

BAGHDAD (Reuters) - Iraq's Shi'ite prime minister, Nuri al-Maliki, has warned he will not tolerate Sunni anti-government rallies indefinitely, but made a concession to their demands by promising to free some women prisoners.Thousands of Sunnis have been taking to the streets of Iraq for more than a week in protest against Maliki, whom they accuse of discriminating against their sect and being under...

Read More..

India paying welfare directly, aiming to end fraud

NEW DELHI (AP) — India will pay billions of dollars in social welfare money directly to its poor under a new program that aims to cut out the middlemen blamed for the massive fraud that plagues the system.Previously officials only handed out cash to the poor after taking a cut — if they didn't keep all of it for themselves — and were known to enroll fake recipients or register unqualified people....

Read More..

Venezuelans on edge amid shifting news on Chavez

CARACAS, Venezuela (AP) — Supporters and opponents of President Hugo Chavez alike nervously welcomed the new year Tuesday, left on edge by shifting signals from the government about the Venezuelan leader's condition three weeks after cancer surgery in Cuba.With rumors swirling that Chavez had taken a turn for the worse, Vice President Nicolas Maduro said in a televised interview in Cuba that he had...

Read More..

1 Indian gang rape suspect may be juvenile

NEW DELHI (AP) — A bone test is being conducted to confirm the age of a young suspect in custody in the fatal assault and gang rapeof a woman on a bus in India's capital, while prosecutors will seek the death penalty for five other men arrested with him, police said. The six will be formally charged in court on Thursday on accusations that they kidnapped, gang raped and...

Read More..