Cyprus on Tuesday became the fifth country – after Greece, Spain, Ireland and Portugal – to seek a bailout. The country has applied for $2 billion to prop up its second largest bank. Cyprus had its credit rating slashed on Monday.
Egypt’s military rulers have finally revealed the Muslim Brotherhood’s candidate at the recent presidential election, Mohamed Mursi, won the poll. He secured 51.7 percent of the votes. In victory he said he would govern for all Egyptians.
After months of constitutional crisis, polls have opened in Papua New Guinea. However, angst around the country’s political atmosphere has spread to the two-week election period with claims of rioting and ballot box damage in rural areas.
Red-faced Mexican authorities have been forced to admit a man they arrested for being the son of a notorious drug lord, was not who they thought he was. It turns out the man they arrested last week was actually an innocent car dealer.
Queen Elizabeth will meet a senior figure of the former Irish Republican Army and Sinn Fein politician, Martin McGuiness, on a trip to Northern Ireland this week. It is the first time she has met with a party leader since sectarian violence ended.
Eighteen people have been confirmed dead after a landslide in Uganda. However, the Red Cross said the number of dead is expected to rise as rescue efforts continue. More than 15 houses were buried in the disaster near Mt Elgon.
Three Mexican policemen died in a gun fight at an airport in the country’s capital. The officers were attempting to arrest two men suspected of involvement in a cocaine trafficking ring. The suspects escaped. It did not disrupt flights.
Oil trade stalls
South Korea has announced it was suspend oil imports from Iran because of lack of insurance. The European Union and United States stopped providing insurance for the imports in an effort to encourage Tehran to halt its nuclear program.
An emergency declaration has been posted covering the entire US state of Florida after it was buffeted by Tropical Storm Debby. The storm knocked out power to at least 35,000 homes. One woman was killed in a tornado and a man was missing.
Up to 90 men are believed drowned after a boat carrying about 200 asylum seekers sunk near the maritime border of Indonesia and Australia last week. The search ended Sunday. Rescuers were only able to save about 110 Middle Eastern asylum seekers.
Impeachment in Paraguay
Brazil has recalled its ambassador from Paraguay after the country impeached its democratically-elected president, Fernando Lugo. The congressional trial last less than an hour. Lugo, a former priest, said it was a “parliamentary coup”.Post published in: News