Bush Seeks Reforms but Warns
against Abandoning Free Markets
US President George W. Bush Thursday called for overhauling the "outdated" regulatory structures of the financial industry, but warned against reinventing the free market system that has spurred economic growth for decades. Speaking ahead of an emergency Washington summit of the world's 20 leading economies, Bush offered a broad defence of US-style capitalism and free markets, warning leaders to fix the flaws exposed by the financial crisis rather than abandon the system wholesale. Read On
► World Financial Crisis Can't be Solved
    Overnight: Bush

Democrats Back Down from Bail-out
for Automakers
Democratic leaders in Congress said Thursday they do not expect to pass an immediate bail-out for the struggling US auto industry, citing opposition from Republican legislators. Christopher Dodd, a Democratic senator from Connecticut who chairs the Senate Banking Committee, said his party did not have the support for legislation to help the nation's three largest automakers, which are struggling to remain afloat amid a sharp downturn in car sales. Read On

• Stop Financial Crisis from Becoming
  Human Tragedy: Ban to G-20
• Crew Member Caused Fire
  on Russian Nuclear Submarine

Russia will Reciprocate if US Drops
Missile Shield Plan
Russia may abandon its plans to place short-range missiles in the Kaliningrad region along the Polish border if the new US administration reverses its decision to deploy a missile shield in Central Europe. As a response to the proposed US missile shield, President Medvedev announced last week the possible deployment of Iskander-M short-range missile systems in the Kaliningrad exclave, sandwiched between Poland and Lithuania on the Baltic Sea. Read On
► Medvedev Looks Forward to Strong Partnership
    with Obama

US Hopes G20 Summit will Agree on Action Plan
by Arun Kumar
As the US prepared to receive Group of Twenty (G20) leaders, including Indian Prime Minister Manmohan Singh, it expressed the hope their weekend summit would evolve common principles for reform to ward off a future financial crisis. Read On
► G20 Agenda: PM Calls for Bolstering
    Global Financial Institutions 

Germany Slumps into Recession,
Data Forecast to Show
Germany slumped into a recession during the third quarter, data to be released later Thursday is forecast to show, amid signs that a global economic downturn was taking hold. Europe's biggest economy shrank by 0.1% in the third quarter, analysts predict figures from Germany's statistics office will show after it contracted by 0.5% in the quarter to end June. Read On

• OECD Forecasts Protracted Economic Slowdown
  in US, Europe  
• Hong Kong Shares Open Six Percent Lower
  after Wall Street Losses 
• Nikkei Tumbles Five Percent
  Due to Stronger Yen, Economic Worries

Prachanda's Daughter Battles Cancer in India
By Sudeshna Sarkar
Even as Nepal's Maoist Prime Minister Pushpa Kamal Dahal Prachanda attends the second BIMSTEC Summit in New Delhi, few know that his eldest child is fighting cancer in India. Read On

Historic G20 Summit Hopes to Head Off
Global Recession
by Andrew McCathie and Chris Cermak
Leaders of the world's 20 biggest economies will hold a historic meeting Saturday in a bid to head off the threat of a protracted global recession and forge a new world financial order. Called together less than two months ago by US President George W. Bush, the emergency summit of the Group of 20 (G20) leaders amid the splendor of Washington's National Building Museum comes in the wake of the biggest crisis to engulf the world economy since the Great Depression. Read On

Real Mission for James Bond:
Infiltrate India's Nuke Programme
Ahead of the latest James Bond film's release in the US this Friday, a foreign policy journal has listed out five missions it would like the most popular fictional spy to take up, including infiltrating India's nuclear programme to find out if the country has got a hydrogen bomb. Read On

US Stocks Dive as Treasury Plans
to Prop Consumer Lending
As the US Treasury Department said it will prop up consumer lending as part of the emergency financial bail-out, US stock indices plunged more than four percent Wednesday, with the Standard & Poor's 500 index dropping to a near five-year low. The technology-heavy Nasdaq Composite Index also reached a five- year low. Read On

• China Announces Multi-billion-dollar
  Infrastructure Projects 
• Tamil Nadu Assembly Demands Truce,
  Talks in Sri Lanka 
• Record One-day Fall for Canadian Dollar
• Russia will Rebuild Ties with Old Ally Cuba  

Sri Lanka Assures India about Tamils' Safety, Ready for Indian Relief 
Sri Lanka Thursday said it was ready to receive a consignment of relief material from India to help civilians caught in the military conflict in the island nation, but underlined that there will be no let-up in military offensive against the Tamil Tigers. Read On

Congressmen Avoid Media after Alva Debacle 
It was a deserted Congress Party headquarters in New Delhi on Thursday. Usually bustling with party members and senior functionaries, the office was silent on Thursday. Most of the rooms occupied by party general secretaries, spokespersons, and senior leaders were locked. Many party leaders invite media persons to their rooms, but they were nowhere to be seen. Read On

India has Stake and Role
in Global Financial Stability: PM
India has vital stake and a role to play in the global economic stability, PM Manmohan Singh said Thursday as he left for the US capital to attend the G20 Summit among leaders of rich and developing nations to find ways that could reverse the current global economic slowdown and avert a future financial crisis. Read On

India's Inflation Rate in Single Digit after 21 Weeks
India's annual rate of inflation fell sharply to 8.98 percent for the week ended Nov 1, from 10.72 percent for the week before, in a development that should bring some cheer to the United Progressive Alliance government, ahead of the ensuing state elections. Read On

• Colors of Indian Flag on Moon Friday

Sikhs Across India Mark
Guru Nanak's Birth Anniversary with Fervor
As dawn broke Thursday, hundreds of Sikhs across India thronged gurudwaras for morning prayers to mark the 539th birth anniversary of Guru Nanak Dev, the founder of the world's youngest religion. Read On

• Diaspora Attempts to Spread
  Guru Nanak's Message in US Schools
• Mukesh Ambani has Ousted L.N. Mittal
  as Richest Indian: Forbes
• Late-Starter Punjab Now Wants to Ride IT Bandwagon
• India's Moon Impact Probe to Hit Lunar Surface Friday

India Disturbed by Rise of Intolerance Worldwide: E. Ahamed by Lalit K. Jha
India was disturbed by the rise of intolerance worldwide and troubled by the resources being made available to groups that misuse religion to "propagate their extremist agendas", Minister of State for External Affairs E. Ahamed said addressing an inter-faith meeting of the UN General Assembly. Read On

Campaign on Wheels:
It's Vijay Rath versus Vikas Rath in Delhi
By Richa Sharma
Riding the wheels of development, the ruling Congress will use the 'Vikas Rath' to take on the opposition Bharatiya Janata Party's (BJP) comeback vehicle 'Vijay Rath' for campaigning in the Delhi assembly polls November 29. Read On

India Needs to Create More Non-agriculture Jobs for Farmers by Rajeev Ranjan Roy
With the share of the farm sector in the GDP declining, India should try to provide more non-agricultural jobs to create more opportunities for the surplus millions still dependent on agriculture for their livelihoods, says Abhijit Sen, member of the Planning Commission. Read On

Sabarimala Temple Prepares
for Annual Pilgrimage Frenzy
Kerala's famed Sabarimala temple is getting set to receive nearly five million devotees during the two-month-long annual pilgrimage season that begins Sunday. Facilities being made available for pilgrims include oxygen parlors and pre-paid bank coupons for holy offerings. Read On

Egypt's Mubarak to Visit India after 25 Years
India is set to energize its political and economic ties with Egypt, a co-founder of the Non-Aligned Movement (NAM), when President Hosni Mubarak comes here on a four-day state visit Sunday - his first to the country after 25 years. Read On

• Campaign Drums Yet to be Heard
  in Madhya Pradesh
• Hiring to Fall Short of Expectations by 30 Percent  
• Chandrayaan Reaches 'Home' in Lunar Orbit
• Gujarat Village Euphoric
  as Daughter Joins Obama Team 

Bears Finally Prevail, Key Index Down 300 Points
With the Indian index for industrial production (IIP) growing 4.8%  in Sep compared to a rise of only 1.3% in the previous month, analysts said Indian equities tried to bounce back Wednesday but bears still prevailed and a key index shed more than 300 points. Read On

India's Industrial Production up 4.8 Percent
in September
India's industrial production expanded 4.8% in Sep, which was higher than the poor growth of 1.3%in the previous month, but sharply lower than the 7% registered during the like month of last fiscal. Read On