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Bush: Plan Addresses Root Causes of Financial Crisis


WORLD ECONOMY: U.S. President George Bush is urging Congress to "send a strong signal" to markets in the United States and around the world by passing a 700-billion-dollar plan to rescue banks and other financial companies.The president's spoke today (Monday) hours before the U.S. stock markets opened for trading. He was seeking to assure investors that the measure will help the economy start to grow.

LEBANON-BLAST: Security officials in northern Lebanon say at least five people have been killed and at least 21 others injured by an apparent car bomb in the city of Tripoli.Officials say they believe a booby trapped vehicle was detonated by remote control near a bus loaded with Lebanese soldiers. The attack occurred early today (Monday) as people were driving to work. There was no immediate claim of responsibility.

BELARUS ELECTION: Election officials in Belarus say the opposition failed to win a single seat in Sunday's parliamentary election.The chief of the Central Electoral Commission (, Nikolai Lazovik,) told reporters today (Monday) complete returns show allies of President Alexander Lukashenko have won all 110 seats.Opposition leaders say the election was rigged, and have called on the West not to recognize the results.

JAPAN POL: Japan's new prime minister, Taro Aso, gave his first policy speech to parliament today (Monday), promising tax cuts and pledging to revive his country's flagging economy.Mr. Aso urged the opposition to help pass a 17-billion-dollar emergency budget to stimulate Japan's economy, which contracted in the last quarter. The new cabinet sent its budget proposal to parliament today, where the main opposition Democratic Party of Japan controls the upper house and could stall the plan.

TAIWAN-TYPHOON: Typhoon Jangmi has moved across Taiwan with strong winds and heavy rain today (Monday), forcing the closure of schools, businesses and financial markets.
Officials say two people have been killed and more than 30 injured since Jangmi first made landfall Sunday afternoon with winds of more than 190 kilometers per hour. Weather officials say the storm dumped more than 900 millimeters of rain on some parts of the Taiwan.
One woman was killed when she was hit by a broken cable, while an elderly man was blown into a paddy and drowned.

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