International News

Date: Tue, 16 Dec 2008 20:02:05 -0500
TOP STORIES as of 0900 HKT -- 17 December, 2008

U.S. FED SLASHES KEY RATE TO NEAR ZERO
The U.S. Federal Reserve cut a key rate Tuesday to a range of
between zero and 0.25 percent. The Fed said the U.S. economy,
already in recession, is in danger of getting weaker. The
federal funds rate is key to spurring the economy as it is used
as a benchmark to set rates for a variety of consumer loans.

DIABETES FOUND TO RAISE CANCER MORTALITY RISK
Two of the most common diseases in the United States -- cancer
and diabetes -- are not often linked together in the public
mind. But they may have a stronger link than most people think.
Cancer patients who already have diabetes have a greater chance
of dying of the disease than cancer patients who do not have the
blood-sugar disorder, according to a report in the Journal of
the American Medical Association.

ISRAEL: 24 DEAD AS BUS PLUNGES DOWN RAVINE
At least 20 people were killed in Israel Tuesday when a tourist
bus plunged down a ravine near the southern Israeli city of
Eilat, ambulance services reported.

BUSH ON AUTO BAILOUT AND DODGING SHOES
President Bush said Tuesday that he is "considering all options"
in aiding the U.S. auto industry because doing nothing could
lead to further economic decline.

CHENEY DEFENDS WAR IN IRAQ
In his first TV interview since the presidential election, U.S.
Vice President Dick Cheney once again staunchly defends the Bush
administration's record in the war on terror and, more
specifically, the decision to go to war in Iraq.

DYNAMITE FOUND AT PARIS DEPARTMENT STORE
A major department store in central Paris has been evacuated
after five sticks of dynamite were found inside, French police
have said.

FIRST DETAINEES RELEASED FROM GITMO SINCE RULING
Three Guantanamo Bay prisoners were released to their families
Tuesday, becoming the first detainees to be sent home as a
result of a U.S. court ruling.

MEKONG DELTA'S SECRET 'TREASURE TROVE'
A rat believed to be extinct for 11 million years, a spider with
a foot-long legspan, and a hot pink cyanide-producing "dragon
millipede" are among the thousand newly discovered species in
the largely unexplored Mekong Delta region.

BUSINESS

MADOFF INVESTORS GET REPRIEVE
A U.S. federal judge issues an order that may help investors
allegedly swindled by New York financier Bernard Madoff in what
appears to be the largest "pyramid scheme" in history recover
some of their money.

CHINA, TAIWAN REOPEN REGULAR TRANSPORT LINKS
Regularly scheduled commercial flights, shipping, and mail
between Taiwan and China resumed Monday for the first time since
the 1949 revolution that brought the Communist Party to power on
the Chinese mainland.

SUZUKI QUITS WORLD RALLY SCENE AS SALES DIP
Japanese automaker Suzuki Motor Corporation has pulled out of
next year's FIA World Rally Championship citing a drop in sales
due to the global financial crisis.