Investors dumped more Asian shares and emerging market bonds today (Wednesday) after a large drop in China on Tuesday began a worldwide sell-off. Japan's Nikkei index and Hong Kong's Hang Seng index both closed nearly
three-percent lower today, while the Philippine market plunged almost eight-percent. Shanghai stocks rebounded around four-percent at today's close, following a nearly nine-percent drop on Tuesday. In morning trading today, the major European indexes are down by one and a half percent or more.
THAILAND POLITICS: Thailand's finance
minister has resigned his position in the country's military-appointed government. Pridiyathorn Devakula, who also serves as deputy prime minister, told reporters today (Wednesday) his resignation from both posts will take effect March first. He said his decision was based on differences with government officials, but did not provide specific details.
CAMBODIA-US :U.S. officials say Washington has lifted a ten-year ban on development aid to the Cambodian government. The United States imposed the ban in 1997 after Prime Minister Hun Sen removed his co-prime minister, Prince Norodom Ranariddh, in a violent coup. During the past decade, the U.S. channeled its aid to Cambodia through non-governmental organizations. The end of the ban comes at a time of warming relations between Cambodia and the U.S. Earlier this month, an American navy frigate docked at the Cambodian deep-sea port of Sihanoukville in the first such visit for three decades.
NOKOR TALKS: South Korea urged North Korea to quickly implement a nuclear disarmament deal during today's (Wednesday's) opening of the two nations' first high-level talks in seven months. South Korean media reports say that during the talks in the North's capital, Pyongyang, South Korean Unification Minister Lee Jae-joung also called on the two sides to resume humanitarian projects, including the reunions of families separated since the Korean War.
AIRBUS RESTRUCTURING : European
plane maker Airbus is expected to unveil its restructuring plan today (Wednesday), which reports say may include up to 10-thousand job cuts. Earlier reports have suggested the majority of layoffs are likely to come in France and Germany, where most Airbus production is based, but factories in Britain and Spain also face job cuts. Reports say Airbus also wants to sell several factories to reduce costs.
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