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Obama: US economy will worsen before it gets better

President-elect Barack Obama said the U.S. recession will worsen before a recovery takes hold and that he will offer an economic stimulus plan “equal to the task” without worrying about a short-term widening of the budget deficit. Dealing with the loss of jobs, frozen credit markets, falling home prices and …

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Two men arrested over Mumbai attacks

One of the two Indian men arrested for illegally buying mobile phone cards used by the gunmen in the Mumbai attacks was a counterinsurgency police officer who may have been on an undercover mission, security officials said Saturday, demanding his release. The arrests, announced in the eastern city of Calcutta, …

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Global crunch stalls Zambia hydro-power project

The global financial crisis has crept into Zambia as a significant power project meant to aid the country’s power deficit will be delayed several months as a result of the slow down in the world economy, said an official from the World Bank. The 750MW Kufue Gorge Lower hydropower station …

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