Asian markets tumble on Wall St. news

Asian markets fell sharply led by losses in Japan, South Korea and Hong Kong after news of the collapse of Lehman Brothers and the takeover of Merrill Lynch & Co. on Wall Street.

The bad news was compounded by reports that American Insurance Group, Inc. (AIG) is also in trouble after its credit rating was downgraded.

On a positive note, oil prices have dipped sharply as speculators surmise demand will slow along with economic growth.

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Turmoil hits Asia; Hong Kong, Seoul deep in the red
MarketWatch - 1 hour ago

By Chris Oliver, MarketWatch HONG KONG (MarketWatch) -- Markets across Asia were blasted by a wave of selling Tuesday, with creditors of Lehman Brothers among the leading decliners, followed by consumer exporters, as investors reassessed the outlook ...

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North Korea builds new ICBM site

Satellite imagery reveals that North Korea has built a new site capable of launching ballistic missiles with nuclear warheads.

Pongdong-ni's location was discovered by Janes Intelligence Group Photo: AP


The Pongdon-ni site is located in the hills near the China border and has a tower capable of supporting the Taepodong-2 intercontinental ballistic missile (ICBM) with a range of 6,000 miles.

Metro
North Korea builds secret launch site for ballistic missiles
Telegraph.co.uk, United Kingdom - Sep 11, 2008
North Korea has secretly built a launch site for ballistic missiles capable of delivering nuclear warheads, according to new satellite imagery. ...

Pakistan threatens to quit 'war on terror'

Pakistan's main opposition party threatened Friday to withdraw from the 'war on terror' after further suspected U.S. attacks in its border region with Afghanistan.

The country is still considered unstable after a power vacuum left by the departure of former president Pervez Musharraf.

Pakistani sources claim 12 people were killed after an apparent U.S. drone shot a missile at a target in north Waziristan. U.S. President George W. Bush has approved unilateral strikes from Afghanistan across the border into Pakistan.

Pakistan threatens to pull out of war on terror after U.S. attacks (AP)

AP - Pakistan's main opposition party said Friday the country could pull out of the war on terror over stepped-up attacks by U.S. forces in the restive tribal regions bordering Afghanistan.

AFPSuspected US missile kills 12 in Pakistan: official
AFP - 55 minutes ago
MIRANSHAH, Pakistan (AFP) — A missile from a suspected US drone killed 12 people Friday in a Pakistani tribal area where US forces have been aggressively ...
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