United States,US, Federal Reserve and Treasury

The heads of the United States,US, Federal Reserve and Treasury have moved to calm fears about the financial health of the nation's two largest mortgage firms. Shares in Fannie Mae and Freddie Mac recorded another poor trading in recent weeks amid talk of a government ball-out.

Ben Bernanke, head of the reserve, and Henry Paulson, the Treasury secretary, also called for new powers to shield the economy from crises and told the US Congress they needed to modernise the regulatory system.

They told a hearing of the House Financial Services Committee t5hat Fannie Mae Freddie Mac had aqdequate capital. Investors fear the two mortgage firms may need a government bail-out, after comments from a former central banker that suggested the institutions might6 not be solvent. Both firms are raising funds to cover losses of more than $11 billion (5.6 billion pounds) since the credit crisis began last year. '' Fannie Mae and Freddie Mac are also working through this challenging period.They play an important role in our housing markets today and need to continue to play an important role in the future. Their regulator has made it clear that they are adequately capitalised,'' Paulson said.

Freddie Mac shares slid 22 per cent to $8 aqnd Fnnie Mae lost 13,8 per cent to $13.20, but Bernanke said that while current efforts were being concentrated on steadying the state of the US economy, it was not too early to consider measures to ensure the '' orderly'' liquidation of finance firms on the verge of bankrupcy in the future.

US and Japan become aware for clean technology

The United States and Japan have now become aware for clean technology research and have called for global fund and have called for a G8 initiative so that poorer countries can do their part in fighting climate change, which is blamed for droughts, rising seas and more intense storms.Environment ministers and their representatives meeting at a Group of Eight conference on global warming have sought urgent action to curb greenhouse gas emissions that cause global warming, but developing countries and the developed countries are split on how to share the burden.Rapidly growing economies such as China and India and Brazil also attended the three-day meeting of the Group of Eight. According to Brazilian delegate Ana Maria Fernandes it is vital for developed countries to pass on know-how and help fund research for new technologies.

Vodafone, British giant telecom announced there profit

Through worldwide with strong growth during the year in the Eastern Europe, the Middle East, Africa, Asia and the Pacific (EMAPA) region, Vodafone has over 260 million proportionate mobile customers. In addition to that Vodafone’s new business in India has been growing succesful into the group and now has over 44 million customers, with over 50 per cent proforma revenue growth. Vodafone CEO Arun Sarin said in a statement that Vodafone Essar in India is delivering very strong growth and performing in line with their acquisition plan and they through their existing emerging market assets, they are planning to perform well. Sarlin further added with their other two operators to drive further strong, cost efficient growth, they have also established an independent tower