The Hellenic Radio (ERA): News in English, 08-09-19

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Positive Impact in Asian Markets

19 Óåð 2008 08:57:00

Strengthening of the dollar and significant gains in Asian markets were recorded following US government initiatives to get crisis resolved in battered financial markets. U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke met with Congressional leaders whom they briefed on the governments plan to deal with toxic bank assets choking the financial system. "We talked about a comprehensive approach that will require legislation to deal with illiquid assets on financial institutions balance sheets," Paulson told reporters. In parallel, the Chinese government was also trying to stabilise markets, buying shares in three of the biggest state-owned banks and ditching a tax on purchases of stocks. Japan and Australia pumped a further $20 billion into their money markets as lending remained tight despite Thursdays unprecedented $180 billion made available by the U.S. Federal Reserve to the global banking system.

The impact of these interventions was immediate in Asian stock markets driving Shanghai index , which had closed at its lowest in the 22 last months, 9.3% up, Honk Kong recorded 7.1% gains shortly after opening of transactions and Japan Nikkei index rose 2.65% while it had closed yesterday at its lowest in the last three years .

In the meantime, US government plan to get crisis in financial markets resolved pushed oil prices higher in Asian markets. During early morning transactions light crude oil for October delivery contracts went up 24 cents to $98.12 per barrel. Yesterday crude oil price went over $100 per barrel to finally close at $97.88 per barrel.

Translated by Chrisanthi Sarantis

[02] Nationwide Inspection

19 Óåð 2008 09:14:00

for the compound that has killed four children

Sources: ÁNA

Nearly 10 % of milk samples taken from top Chinese dairy companies was contaminated by melamine, the government quality watchdog found after testing for the compound that has killed four children in a widening scandal. The nationwide inspection of milk showed the problem of contamination ran wider than the tainted milk powder that has made thousands of infants ill. Officials said most milk was safe to drink, trying to bolster public trust.

The General Administration of Quality Supervision, Inspection and Quarantine pointed its finger at two of Chinas top dairy producers in a statement on its website. Almost one-tenth of milk batches from Mengniu Dairy and Inner Mongolia Yili Industrial Group Co Ltd tested positive for melamine, a compound banned in food, the quality watchdog said.

The health scare erupted after Sanlu Group revealed it had produced and sold melamine-laced milk powder. At the latest count, 6,244 children have fallen ill with kidney stones after drinking powdered melamine-tainted milk while four children died.

Translated by Chrisanthi Sarantis

[03] European Mobility Week

19 Óåð 2008 09:33:00

Sources: ÍÅÔ 105.8

Within the framework of the "European Mobility Week", an event held to promote the use of public transport as a mandatory mobility solution to face the environmental, social and economic challenges of today, OASA (Athens Urban Transport Organization) has announced free use of all means of mass transport ( bus, trolley bus, electric train, metro, suburban railways) on Monday, September, 22 from the start to the end of the shifts. Free transport applies for the urban part of metro and suburban railways, that is for the Metro till Koropi station and suburban railways till Magoula station.

Translated by Chrisanthi Sarantis

[04] Seven Killed

19 Óåð 2008 09:05:00

Sources: ÁNA-ÌPA

Seven people, six of them immigrants, were killed and two injured during exchange of fire in the northern part of Naples on Thursday. According to local authorities six people were killed and two injured, most likely Nigerina immigrants while shortly after an Italian was killed during a second exchange of fire incident in a video game shop. Police do not know yet whether the two incidents are linked, however, Italian news agency Ansa reports that the first incident is linked with drug trafficking. The victims have not been identified as they had no IDs on them.

Translated by Chrisanthi Sarantis

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