DUBAI – Abu Dhabi threw its flashy but debt-laden neighbour Dubai a $10 billion lifeline to head off a bond default, cheering Gulf and global markets yesterday but raising questions about the undisclosed terms.
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VIENNA/MUNICH – Austria took over Hypo Group Alpe Adria to avoid a collapse that could have undermined trust in eastern European banks and in government support for state-backed lenders.
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TEHRAN – Iran has arrested several people over the tearing up of a picture of the Islamic Republic’s founder, Ayatollah Ruhollah Khomeini, during anti-government demonstrations last week, a senior official said yesterday.
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SANTIAGO – Conservative billionaire Sebastian Pinera led Chile’s presidential vote and is seen the favourite to win a run-off and lead a political shift in Latin America’s most stable economy after 20 years of leftist rule.
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SAMAN-DEPE, Turkmenistan – China’s President Hu Jintao opened a pipeline linking a gas field in Turkmenistan with his country’s Xinjiang region, extending Beijing’s reach into Central Asia’s natural resources.
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WASHINGTON – US oil demand through 2035 is not expected to return to the peak levels reached before fuel consumption fell sharply due to high petroleum prices and the recession, the head of the Energy Information Administration said.
