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Pakistan asks IMF for rescue loan
Pakistan has asked the International Monetary Fund for a loan of at least $7.6bn, its top economic adviser says.
In brief: Tullow strikes it rich with oil find

Tullow Oil yesterday announced another oil discovery in Ghana. The result encouraged brokers to up estimates for the nearby Tweneboa prospect, which is now believed to hold up to 750 million barrels of oil.

Yugo gone
Serbia's iconic vehicle finally runs out of road
African free trade zone is agreed
The leaders of three African trading blocs agree to create a free trade zone of 26 countries with a GDP of $624bn (£382.9bn).
No agreement for US car bail-out
US carmakers are given a deadline to produce a viable recovery plan if they want a $25bn government bail-out.
Russia pushes Ukraine on gas debt
Russia demands Ukraine to repay a $2.4bn gas debt, raising fears of a renewed dispute which could disrupt supplies to Europe.
ESB will secure top 10 ranking with €4bn UK expansion plans

A €4bn expansion plan will secure ESB International a top 10 ranking among companies operating in the British electricity market, it said yesterday.

Rwandan growth could reach 10%
Rwanda's booming manufacturing and farming sectors could push growth in the country to 10% this year, its central bank says.
US Senate delays decision on car firms' bailout

The US Senate has delayed making a decision on a $25bn bailout package being sought by the country's top-three car manufacturers.

'Lenihan levy' finally targets top earners

THE country's highest earners were hit hard yesterday as the Government introduced a new 3pc levy on those earning more than €250,000 a year.

Irish shares slump 75pc from peak as ISEQ hits 13-year low

THE Dublin market lost another 4.36pc of its value after a big sell-off in shares left the ISEQ Index at a new 13-year closing low.

Daewoo leases African plantation
South Korean firm Daewoo says it is leasing a vast tract of land in Madagascar, which will produce half of its corn supply by 2023.
Screens turn red as ISEQ plummets

Trading screens across Dublin turned red as bank shares and later industrial stocks came under the hammer as a wave of negative sentiment swept global markets.

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