* The US and Iran take over center stage (The Daily Star)
History is a stubborn companion to life and politics in the Middle East, so to understand what is happening in the region today you have to go back 30 years. One of the pivotal moments in modern Middle Eastern history was the 1977-1979 period, when three major developments occurred that still define, and sometimes plague, the region today. These were the Israeli election victory of the right-wi…
* Travel news in brief (Charles Starmer-Smith, Telegraph)
Trade unions have criticised plans by British Airways and BMI to freeze staff pay in response to the global downturn. Unite, which represents nearly half of all BA workers, is insisting on a pay rise of inflation plus two per cent, raising the prospect of industrial action.
* G7 central banks eye tools beyond rates (International Herald Tribune)
Desperate to pull their economies out of recession, Group of Seven central bankers meeting in Rome this weekend exchanged notes on what they can do once interest rates cannot go down any further.
* Fresh hope for end to falling prices after values rise in UK (The Irish Independent)
HOPES that plummeting house prices could soon bottom out grew last night after a slight rise in the value of UK properties was recorded.
* Schools not immune from bad economy (Banner-Graphic)
Everyone is aware of the bad economic cycle we are in. All of us are impacted as citizens and workers. Our schools are not immune from this either. We are looking at cutting $800,000 from our 2009-10 school year general fund budget. The governor has announced his proposal to flat line school budgets for 2010 and 2011. This means that our schools will be actually losing money. How can this be? I…
* Zimbabwean Cabinet nominee no longer faces treason (Angus Shaw)
Zimbabwean police no longer plan treason charges against a longtime opposition politician appointed to the unity government, the lawmaker’s party said Sunday.The Movement for Democratic Change party reported earlier that police said Roy Bennett, the party’s nominee to be deputy agriculture minister, would be accused of treason, which carries the death penalty. The party said police revis…
* �10K V8 saloons (Evo)
Credit crunch, soaring inflation and spiralling fuel costs the doom and gloom smacks you in the face every time you watch the news or open a paper. And apparently its only going to get worse. So stay indoors, batten down the hatches and, whatever you do, dont drive your car.
* ICEMAN RUNNETH (Kyle Smith, New York Post)
Once, the silliest thing about Val Kilmer was that skeet-surfin’ musical spoof at the beginning of the classic 1984 comedy “Top Secret” (“We’ll have fun with our guns till our lifeguard takes our ammo away”). Today, it’s that he is saying he is thinking about running for Top Gun of his longtime home state, New Mexico, in 2010, and that “If I run, I’m going to be the next governor.” I’ve got the…
* Asian markets subdued ahead of US bailout (Lindsay Whipp, The Financial Times)
Chinese shares outperformed the broader region on Tuesday, buoyed by a drop in inflation which raised expectations that there was room for more rate cut
* How China keeps yuan undervalued (why we care) (San Francisco Chronicle)
To maintain this peg, China’s central bank first intervenes in world currency markets to buy dollars in amounts roughly equal to its trade surplus with the United States (more than $200 billion a year). To prevent what is effectively an increase in China’s money supply from getting into its economy and causing inflation, China’s central bank then “sterilizes” these dollar purchases by selling b…