LIMA, Nov 23,(bdnews24.com/Reuters) - Leaders from Asia and the Americas promised on Saturday to push for a global free trade deal and reform international lenders in an effort to keep the world from sliding into a deep recession.

US President George W Bush, Chinese President Hu Jintao, Japanese Prime Minister Taro Aso and other members of the 21-nation Asia-Pacific Economic Cooperation group, or APEC, said they would refrain from raising trade barriers over the next 12 months.

Dhaka, Nov 23 (bdnews24.com)—Bangladesh's rapid growth in remittance, while helping to reduce poverty, has reinforced regional inequalities, according to a World Bank poverty assessment report released Sunday.

The report said Bangladesh could halve the proportion of poor people in the next 6 years, having significantly reduced poverty levels over the past decade.

AFP, BEIJING - China's central bank has pledged to continue international cooperation to tackle the global financial crisis and maintain market stability, according to state media.

The American bank Morgan Stanley faces a critical weekend as it awaits a crucial $9bn investment from Japan's Mitsubishi bank to fend off a crisis of confidence among investors which is threatening its survival, reports The Guardian.

The Guardian Online

Europe

EU governments yesterday rushed to adopt UK-style financial rescue plans, with Germany close to adopting a scheme for €150bn (£119bn) in guarantees and capital injection for its banks.

The Spanish cabinet approved a €30bn fund, which can be raised to €50bn, to buy "quality" assets from banks, and it increased the deposit guarantee to €100,000. Ministers said the scheme would cost taxpayers nothing.

Reuters, Tehran- Iran's oil minister called for market stability on Saturday, a day after crude prices dropped more than 10 percent, and said the "current critical problem" was related to demand.

REUTERS, Washington- The Indian economy and banking system are sound, the Reserve Bank of India (RBI) chief assured the world financial community on Friday, as a global credit crunch intensified and world stock markets tumbled.

REUTERS, LONDON- Europe and Asia saw panic selling of stocks on Friday, knocking the benchmark world equity index to a 5-year trough, while oil fell to a one-year low as fears grew policymakers are not making enough efforts to contain the financial crisis.

AFP, TRIPOLI  - Libya is to withdraw its assets from Swiss banks -- estimated at seven billion dollars -- and will stop delivering oil to Switzerland, the state Jana news agency reported.

The chairman of the African Union has appealed against any cut in aid following the global financial crisis, reports BBC.

REUTERS, SEOUL- South Korea scrambled on Friday to prop up its tumbling markets with the finance minister set to plead with US bankers to keep credit lines open for local banks under threat from the global financial crisis.

REUTERS, LONDON - Apple has swept the board at Britain's T3 technology magazine's annual awards, winning four top prizes, including gadget of the year for its iPod Touch.

US shares plummeted again last night as fears that further, frantic efforts by governments to halt financial turmoil will fail to stave off global recession triggered another punishing slump in stock markets, reports The Times.

The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study, reports BBC.

AFP, PORTSMOUTH, Ohio - Democratic White House front-runner Barack Obama warned against "fear or panic" and called for quick action on the Wall Street bailout after world stocks went into free-fall.

Bangladesh Telecommunications Company Limited will start connecting land phones with broadband internet connections by December, a senior government official said on Friday, reports bdnews24.com.

Asian markets have opened heavily down in the wake of a plunge by US stocks to their lowest level for five years, reports BBC.

MoU signed

Staff Reporter

Myanmar's top level delegation have signed a memorandum of understanding (MoU) with Chittagong businessmen to enlarge trade and communications.

REUTERS, LONDON- Oil fell more than $4 a barrel to a one-year low on Friday, depressed by expectations global demand growth will shrink if the credit crisis pushes the world economy into recession.

REUTERS, HONG KONG- Hong Kong trimmed its main interest rate on Thursday, effectively taking the total reduction this week to 150 basis points, but failed to prod jittery banks into lowering borrowing costs for even their best clients.