Inflationary pressure decreased to a 14-month low in the world’s largest economy as China’s official statistics showed the consumer price index, the best gauge of inflation, retreated to 4.9 percent.
The drop was due to the government adopting monetary and credit measures to rein in inflation.
7th anniversary of September 11
Relatives of those killed September 11, 2001 gathered in New York City for services marking the seventh anniversary of the devastating terrorist attacks.
Both Presidential candidates, John McCain and Barack Obama visited ‘Ground Zero’ and laid flowers there.
People around the world also held memorials, including students in Pakistan and India, who called for an end to extremism as they held candlelight vigils.
Pakistan’s new president
Asif Ali Zardari was sworn in as the new president of Pakistan Tuesday and vowed to work with neighbors after instability and strained relations.
Zardari, the widower of assassinated former Prime Minister Benazir Bhutto, swept to power in an election by legislators.
He replaces former army chief Pervez Musharraf who stood down after he was threatened with impeachment.
US govt takes over Freddie Mac and Fannie Mae
The US government announced earlier in the week it would take over mortgage giants Fannie Mae and Freddie Mac, initially causing global share markets to rally.
The regulator of the two companies, the Federal Housing Finance Agency will manage the two companies on a temporary basis.
Treasury Secretary Henry Paulson and FHFA Director James Lockhart made the announcement to spell out the latest rescue effort.
Thai PM ordered by court to resign
Thailand’s political crisis continues as embattled Samak Sundaravej yesterday accepted his party’s nomination to return as Prime Minister after the Constitutional Court forced him to resign onTuesday.
Sundaravej said the decision of whether he should be reinstated be determined by a parliamentary vote today.
He faces major opposition from within his own party as protests continue.
In-depth
Mudslide in Shanxi kills 151
The death toll from Monday’s landslide in Shanxi Province has climbed to 151.
An official from the State Administration Work Safety says there could be several hundreds of people buried under hundreds of thousands of tons of slush and rocks.
The landslide occurred when the 15m high bank of liquid iron-ore waste dump burst after being filled to more than capacity.
More than 2,500 rescuers are using 110 dredging machines to dig and shovel debris in search of survivors.
Destructive force of Hurricane Ike continues
The United Nations is appealing for $108 million in aid after Hurricane Ike left a path of destruction in Haiti on Monday.
So far 80 people have been killed in the Caribbean after houses were ripped apart, trees toppled and areas flooded.
On Wednesday the hurricane passed through the Gulf of Mexico, crashing through Cuba, toppling aging Havana buildings.
The Category 2 hurricane is building in strength and could grow into a massive Category 3 storm as it heads towards the Texas coast.
North Korea celebrates 60th anniversary
On Tuesday the Democratic People’s Republic of Korea celebrated the 60th anniversary of the nation’s founding.
Militia men and women marched across Kim Il-sung Square, the center of the capital city Pyongyang.
Also displayed in the parade were multiple rocket launch systems, anti-aircraft guns and howitzers.
But Kim Jong-Il, the top leader of the country was not present at the celebrations.
China sent a congratulatory message to the DPRK that was signed by President Hu Jintao, general secretary of the Chinese Communist Party Wu Bangguo, and Premier Wen Jiabao.
Paralympics Highlights
The Paralympics began earlier this week as China topping the medal count with 33 golds by Friday morning.
In the T11 Men’s 5,000m final, Zhang Zhen beat the pack on his 24th birthday. He outran Kenyans Francis Thuo Karanja and Henry Wanyoike for gold.
Also on the track, South African Oscar Pistorius came from behind to win the men’s 100m final T44. He beat American Jerome Singleton at a time of 11:17 seconds.
Picture Story
China celebrates Teacher’s Day
Premier Wen Jiabao ate lunch with elementary and high school teachers to mark Teacher’s Day on Wednesday.
He sought their views on a proposed long-term plan for educational reform.
The teachers gave their suggestions on many issues, including educational reform, professional training and compulsory education for migrant workers’ children.
Federer finishes season on a high
Roger Federer proved reports of his demise as a grand slam champion were wrong when he won his fifth successive US Open title.
The Swiss star beat 21-year-old Briton Andy Murray in the men’s final 6-2, 7-5, 6-2.
This was a big win for Federer, after Rafael Nadal beat him in the French Open and Wimbledon.
Star Power at Toronto Film Festival
Hollywood stars and celebrities are lighting up the 33rd Toronto International Film Festival.
Anne Hathaway, Jessica Biel, Guy Ritchie, and Colin Firth were among those who attended the event.
There are reports that ex-couple Brad Pitt and Jennifer Aniston met up privately for a dinner, the first time since they divorced in 2005.
（英语点津 Helen 编辑）
" style="WIDTH: 618px; HEIGHT: 2px" title="">
" style="WIDTH: 120px; HEIGHT: 120px" title="">Bernice Chan is a foreign expert at China Daily Website. Originally from Vancouver, Canada, Bernice has written for newspapers and magazines in Hong Kong and most recently worked as a broadcaster for the Canadian Broadcasting Corporation, producing current affairs shows and documentaries.
" style="WIDTH: 120px; HEIGHT: 80px" title="">Dylan Quinnell is a freelance journalist and photographer from New Zealand who has worked in TV, print, film and online. With a strong interest in international affairs, he has worked in Denmark, Indonesia and Australia, covering issues like the EU, indigenous people and deforestation. Dylan is in Beijing on an Asia New Zealand grant working as a copy editor for the English news department.
" style="WIDTH: 618px; HEIGHT: 2px" title="">
" style="WIDTH: 120px; HEIGHT: 120px" title="">Bernice Chan is a foreign expert at China Daily Website. Originally from Vancouver, Canada, Bernice has written for newspapers and magazines in Hong Kong and most recently worked as a broadcaster for the Canadian Broadcasting Corporation, producing current affairs shows and documentaries.
" style="WIDTH: 120px; HEIGHT: 80px" title="">Dylan Quinnell is a freelance journalist and photographer from New Zealand who has worked in TV, print, film and online. With a strong interest in international affairs, he has worked in Denmark, Indonesia and Australia, covering issues like the EU, indigenous people and deforestation. Dylan is in Beijing on an Asia New Zealand grant working as a copy editor for the English news department.