The Hellenic Radio (ERA): News in English, 08-09-29

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] US Bailout Put to a Vote

By Betty Savourdou

Sources: Reuters, ANA-MPA, ΝΕΤ 105.8

The US $700 billion rescue plan will be put to a vote in the US House of Representatives and Senate on Monday, after the Republicans and the Democrats agreed on the plans details. Unless it is approved, the cost to the US economy will be devastating, warned US President George W. Bush. Under the plan, companies will have to guarantee for their risky reserves. Bush is expected to issue an announcement on the plan on Monday at 14:35 (Greek local time). In the meantime, the financial crisis hit Europe, too, as two major banks are on the brink of collapsing. The British government is to announce the nationalisation of the reserves of Bradford & Bingley, while Spanish lender Santander heralded the buyout of the branches and its clients accounts through Abbey lender, which is under its control. Belgian-Dutch financial services firm Fortis has been partly nationalized by Belgium, the Netherlands and Luxemburg.

Translated by Areti Christou

Read the story on other sources:

CNN: Rescue bill unveiled

Related News:

USA: Set to Sign off a Deal

[02] OA Unions Hold Meeting

Sources: ΝΕΤ

The tenders for the selection of the private investors for the Greek national air carrier, Olympic Airlines, will be launched in the days to come. Sticking to their decisions against entering talks with the Transport Ministry, the companys unions are holding Monday separate meetings to determine their stance on the matter.

[03] In Asia, Ahead of the US Rescue Plan

29 Σεπ 2008 09:25:00

Sources: ANA, ΝΕΤ 105.8

Sceptic over the success of the US $700 billion rescue plan, Asian markets are rather reserved on day one of this weeks trading.

Crude oil for November delivery was down by $1.04 to $ 105.85 per barrel in morning trading. Brent was down by 69 cents, amounting to $102.85 dollars.

The US Congress came to a deal on Bushs bailout plan. Despite the agreement, concerns over the depth and extent of the crisis have not been eased, commented an analyst in Singapore.

Translated by Areti Christou

[04] Bomb Blast Kills 6 in Lebanon

Sources: ANA

At least six lives were claimed when a car bomb ripped through a bus carrying soldiers in northern Lebanon. Of the 24 people on board, some 10 sustained injuries. Three of the victims were soldiers, said a police source. The blast occurred when the bus departed from the city of Tripoli. A soldier who witnessed the blast said it was a car bomb. Hospital sources said that most of the casualties were soldiers.

Translated by Areti Christou

[05] Austria's Social Democrats Win Elections

By Betty Savourdou

Sources: ANA-MPA

Austrias Social Democrats under Werner Faymann earned the early elections held Sunday, garnering 29.71 percent of the ballot, preliminary official results suggested. The Peoples Party, which participated in a coalition government along with the Social Democrats, trailed with 25.61 percent. The far right surged to almost a third of the vote, with Heinz-Christian Straches Freedom Party scoring 18 percent.

Translated by Areti Christou

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