March 10, 2009 Tuesday
Updated

WASHINGTON - FEDERAL Reserve chief Ben Bernanke on Tuesday called on governments to take 'forceful' action to stem unending financial turmoil and immediately consider reforms to prevent another crisis.

Describing the current financial turmoil as the worst since the Great Depression of the 1930s, he said until governments stabilized the financial system, 'a sustainable economic recovery will remain out of reach.

 
Stability is priority

BEIJING - CHINA'S top judge said on Tuesday the country's legal system will focus on preventing massive public unrest as the global economic crisis threatens to cause more job losses.

China last year saw the number of criminal cases rise 6.6 per cent from the previous year, with a slight drop in violent crimes but an increase in financial crimes, according to a report by the Supreme People's Court to the annual session of parliament.

Obama wants new teachers

WASHINGTON - PRESIDENT Barack Obama promoted his costly education overhaul on Tuesday, pressing methodically forward with stimulus and government reform plans in the midst of an imploding economy.

Schools across the nation have been struggling as millions of Americans have lost their jobs, and state and local governments have seen tax revenues tighten. Mr Obama did not propose new spending during the speech, although he already has taken steps on education.

M'sia unveils $25b stimulus

KUALA LUMPUR - MALAYSIA on Tuesday unveiled a stimulus package worth US$16.2 billion (S$24.9 billion) but warned the export-driven economy could still shrink by 1.0 per cent this year despite the massive spending.

The RM60 billion plan was much larger than expected, and comes with the South-east Asian nation fighting slowing growth as the global downturn dries up demand for its exports in the United States and Europe.

Tougher checks ahead

PRIVATE school operators who leave students in the lurch will face tougher penalties, including imprisonment, under a new Bill to be introduced later this year.

They will also need to show that their teachers, examination procedures and finances are up to scratch. The rules, contained in the Private Education Bill, will be tabled in Parliament in the second half of the year.

   
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