WASHINGTON - US TREASURY Secretary Timothy Geithner said on Wednesday that the financial system 'is starting to heal' as a result of massive efforts to rescue banks and steady the housing market.

In a speech to community bankers, Mr Geithner said the adjustment in the financial system has largely been accomplished as a result of government rescue efforts.

WASHINGTON - SALES at US retailers fell for a second straight month in April as cash-strapped consumers held back on some purchases, according to a government report on Wednesday that dealt a blow to hopes the economy was beginning to improve.

The Commerce Department said total retail sales slipped 0.4 per cent after falling by 1.3 per cent in March. Excluding motor vehicles and parts, sales dipped 0.5 per cent in April, compared to a 1.2 per cent decline the prior month.

NEW DELHI - INDIA'S governing Congress party and its allies have a narrow lead over the main opposition bloc after general elections, early exit polls carried by news channels showed on Wednesday.

The Headlines Today channel said the Congress-led alliance was projected to take 191 out of the 543 seats up for grabs in the month-long elections, compared to 180 seats for the Hindu nationalist Bharatiya Janata Party (BJP) and its allies.

BANGKOK - THAILAND will try to reconvene a summit of Asian leaders in October, Foreign Minister Kasit Piromya said on Wednesday, the latest postponement of a meeting disrupted by violent protests last month.

Thailand planned to host the East Asia Summit on the tourist island of Phuket on June 13-14, two months after protesters forced the cancellation of the meeting near Bangkok.