WASHINGTON - LAWMAKERS in Congress braced on Sunday for a showdown over Democrats' plan to rescue the struggling US auto industry, with Republicans vowing to derail the US$25 billion (S$38 billion) bailout bid.
ALGIERS (Algeria) - THE head of Opec says oil output reductions aren't likely this month because the cartel hasn't yet fully enforced previous quotas or collected all current production data.
Chakib Khelil, who is also Algeria's energy minister, says it isn't realistic to expect the cartel to reach a decision during an emergency summit convened in Cairo later this month.
NEW DELHI - INDIA'S top business body insisted on Sunday the economy was in strong shape to ride out the global financial storm but conceded corporate confidence was a big problem.
The feeling for companies is 'like they have suddenly fallen off a cliff,' K.V. Kamath, president of the Confederation of Indian Industry (CII), said at the opening of the annual India World Economic Forum in New Delhi.
BERLIN- SIGNS grew on Sunday that Berlin may do more to help Germany's entire industry a day ahead of a crisis meeting between Chancellor Angela Merkel and executives from cash-strapped Opel.
Opel, which employs almost 26,000 people in Europe's biggest economy, said on Friday it needed the German state to guarantee loans from banks as its US parent company General Motors (GM) struggles to stave off bankruptcy.
