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/ 3 April 2008

Paulson says China market reforms to continue

China is too far down the road toward a market economy to turn back from reforms now, even if United States financial market turmoil is causing it some qualms, US Treasury Secretary Henry Paulson said on Thursday. Paulson told reporters the biggest threat to continued reforms came from firms in China that want to be protected against competition.

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/ 17 March 2008

JP Morgan to buy Bear, Fed opens lending to Wall Street

JP Morgan Chase set a deal to buy stricken rival Bear Stearns for a rock-bottom price, while the United States Federal Reserve expanded lending to securities firms for the first time since the Great Depression to prop up the financial system. The shock news, the biggest sign yet of how devastating the credit crisis is for Wall Street, slammed the US dollar to a record low against the euro,

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/ 19 November 2007

East Africa integration ‘good for growth’

The momentum towards regional integration in East Africa received encouragement from the United States this week, with US Treasury Secretary Henry Paulson saying that it should boost economic growth in the five-member East Africa bloc. "This is a region that has showed great economic growth over the last couple of years," he said.

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/ 25 October 2007

US slaps new sanctions on Iran’s military

Ratcheting up the pressure on Tehran, the United States on Thursday designated Iran’s Revolutionary Guard Corps a proliferater of weapons of mass destruction and its elite Qods force a supporter of terrorism. In total, Washington slapped sanctions on more than 20 Iranian companies, major banks and individuals as well as the Defence Ministry.

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/ 11 September 2007

US trade deficit declines slightly

The United States trade deficit declined slightly in July as record exports of farm goods, autos and other products offset a big jump in foreign oil prices. The deficit with China hit the second-highest level yet, reflecting strong demand for Chinese-made goods despite a string of high-profile recalls.

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/ 31 August 2007

Bush, Bernanke to launch twin subprime assault

United States President George Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut. Federal Reserve chairperson Ben Bernanke speaks on ”Housing and Monetary Policy” at around 2pm GMT.