S. Korea tightens limit on forex forward positions

SEOUL: South Korea announced Tuesday it was lowering the ceiling on foreign exchange forward positions by foreign and local banks, to ease currency volatility after a sharp appreciation in the Korean won.The finance ministry said local branches of foreign banks will have to limit forward deals to 150 per cent of their equity capital, down from the current 200 per cent.The ceiling for domestic...

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Green tax on diesel cars: Auto sector slams cess proposal

NEW DELHI: The automobile industry has come out against any proposal to impose an additional tax on diesel cars over environmental issues. "Diesel is not as polluting as it is made out to be. How can you tax a technology that is very clean and more fuel efficient?" said Vishnu Mathur, DG of industry lobby group, Society of Indian Automobile Manufacturers. While diesel is not a big polluter, there...

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Bounce houses a party hit but kids' injuries soar

CHICAGO (AP) — They may be a big hit at kids' birthday parties, but inflatable bounce houses can be dangerous, with the number of injuries soaring in recent years, a nationwide study found.Kids often crowd into bounce houses, and jumping up and down can send other children flying into the air, too.The numbers suggest 30 U.S. children a day are treated in emergency rooms for broken bones, sprains,...

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Rx OD Risks: Grapefruit-Meds Warning Expanded

Nov 26, 2012 5:48pm Image credit: Johner/Getty ImagesABC News’ Ben Maas reports:It has long been known that grapefruit juice can pose dangerous — and even deadly — risks when taken along with certain medications. Now, experts warn the list of medications that can result in these interactions is longer than many may have believed.Check below to see whether your medication...

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Euro zone, IMF reach deal to cut long-term Greek debt

BRUSSELS (Reuters) - Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece's debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat. After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to reduce Greek debt by 40...

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Oil down in Asian trade

SINGAPORE: Oil prices were down in Asian trade Monday as markets awaited the outcome of a eurozone finance ministers' meeting aimed at unlocking the next tranche of aid to debt-strapped Greece.Investors were also concerned about looming tax increases and huge spending cuts in the United States, with analysts fearing they could lead to another slowdown in the world's biggest economy.New...

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26/11 anniversary: Experts doubt netas’ claim of safe Mumbai

MUMBAI: Senior police officers and politicians declared on Sunday that Mumbai is prepared to repel any attack of the magnitude of 26/11 but their words were met with disbelief and scepticism.On the eve of the fourth anniversary of the bloody assault, home minister R R Patil admitted that law-enforcement agencies were unequipped to fend off the 10 Pakistani terrorists who landed in Mumbai by sea...

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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk...

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Fire Kills 112 Workers Making Clothes for US Brands

The 100-plus workers who died in a fire late Saturday at a high-rise garment factory in Bangladesh were working overtime making clothes for major American retailers, including Wal-Mart, according to workers' rights groups.Officials in Bangladesh said the flames at the Tazreen Fashions factory outside Dhaka spread rapidly on the ground floor, trapping those on the higher floors...

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Egypt's Mursi to meet judges over power grab

CAIRO (Reuters) - Egyptian President Mohamed Mursi will meet senior judges on Monday to try to ease a crisis over his seizure of new powers which has set off violent protests reminiscent of last year's revolution which brought him to power. Egypt's stock market plunged on Sunday in its first day open since Mursi issued a decree late on Thursday temporarily widening his powers and shielding...

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