FitstPost tells you what’s leading news today.
Muhammad Yunus loses last legal battle, forced to step down as CEO
Bangladesh’s highest court on Thursday upheld the government’s decision to remove Nobel laureate Muhammad Yunus from his pioneering microfinance instituion Grameen Bank. The ruling ends his decades of leadership at the bank he set up to lend money to the poor.Bangladesh’s central bank removed
Yunus, 71, as Grameen’s chief executive earlier this year, saying he had violated retirement laws that bar officials from working after the age of 60 without special government approval.
Source:Wall Street Journal Online
Libya faces fuel crisis as oil supply dwindles
In an oil-producing country that has limited refineries the dearth of fuel is the most obvious sign of the economic impact of the Libyan crisis.But cigarette prices have doubled in the past month; bread is in short supply since Egyptian bakery workers fled the country; cash withdrawals from banks have been capped as the government faces a currency shortfall.
Source: The Guardian
GOP, White House talk debt deal
GOP leaders and the White House are discussing a deal that would enact strict deficit targets and some spending cuts to win Republican votes for lifting the federal debt ceiling. It would defer contentious decisions about Medicare, Medicaid and taxes until after the 2012 elections.
Source: Wall Street Journal
China boosts investment in Latin America
Foreign investment in Latin America grew about 40% in 2010 to $113billion , of which 9% is accounted for by China, a UN study has said. Rick in natural resources, Brazil topped the FDI list with $48.5 billion, followed by Mexico which received $17.7billion.
Source: BBC News
Osama betrayed by adviser Zawahiri: Saudi paper
Osama bin Laden’s deputy Ayman al-Zawahiri led US forces to his hideout as the two were involved in an intense power struggle, a Saudi newspaper reported.The two top al Qaeda men had differences and the courier who led US forces to bin Laden whad more loyalties for Zawahiri, al Watan newspaper reported quoting Arab sources.
Why the US won’t break up with Pakistan
Pakistan may have been cheating on the US, but the marriage is not likely to end. Despite the clamor in Washington this week to punish Pakistan following the revelation that Bin Laden had been camped out in the Pakistani military’s back yard, the grim reality may be that the alternatives to maintaining the current relationship — flawed as it may be — are too ghastly for Washington to contemplate.