Iran’s Foreign Minister Ali Akbar Salehi says the Islamic Republic plans to donate USD 25 million to the famine-stricken people of Somalia. “The USD 25 million worth of goods will be sent for the famine-stricken Somalis,” Salehi said on the sidelines of the Cabinet’s meeting on Sunday. The drought and the famine it has caused in the Horn of Africa nations have affected more than 11.8... 

United States, Washington: The US Treasury on August 5, 2011 after Standard & Poor's cut the US credit rating for the first time in history. The US has lost its top-level triple-A credit rating for the first time since 1917, after Standard & Poor’s downgraded it to an AA-plus, with an even lower AA rating on the horizon. ­The decision comes after the White House and lawmakers reached... 

A shocking Russian Finance Ministry report prepared for Prime Minister Putin is warning today that massive liquidity runs on American and European financial institutions over the past fortnight are in danger of collapsing the entire global economic system leaving war as the only “option” for the West to use to protect itself from complete obliteration. According to this report, the genesis of... 

US President Barack Obama US President Barack Obama says America is witnessing its worst economic downturn since the Great Depression of the 1930s, and blamed political wrangling for the worsening of the crisis. “There is no doubt that we have gone through an extraordinary period in world history. We had the worst recession since the 1930s here in the United States,” Obama said in an interview... 

In this game, the house always wins. Bipartisan complicity stacked the deck against millions of working households, needing to know that political Washington is scamming them. The end result is the banana republicanization of America. American writer O. Henry (William Sydney Porter: 1862 – 1910) coined the term (his fictional Republic of Anchuria) in his book, “Cabbages and Kings.” It refers... 

A 7-month-old severely malnourished Somalia child undergoes treatment at the Hagadera refugee camp in Dadaab, near the Kenya-Somalia border, July 30, 2011. Iran’s Red Crescent Society (IRCS) will dispatch a 120-ton humanitarian aid convoy to Somalia to help the impoverished people in the crisis-hit East African country. IRCS Secretary General Zaher Rostami said the convoy consists of tents, food,... 

Life is good for Rome's political class. As Rome implements deep austerity measures in a bid to save its economy from a fate similar to Greece, many Italians are voicing anger over the privileged lifestyles of their elected representatives. Italy’s elected officials are the highest paid politicians in the world and are also among the biggest cheaters, according to an anonymous Italian blogger... 

Yesterday’s announcement that the US is withdrawing some $800 million in military aid from Pakistan looks to do more serious harm to US-Pakistani relations, but if administration officials expected the “rebuke” to be met with an act of contrition from the Pakistani military, they were mistaken. Rather, Pakistan’s military today insists that they don’t need the US military aid at all, and... 

The cost of a decision last week to allow globalist vultures to metaphorically hog-tie Greece while the EU and IMF commences a good old fashioned economic pillaging of her state assets is a total evisceration of the country’s sovereignty, according to Eurogroup chief Jean-Claude Juncker. “The sovereignty of Greece will be massively limited,” Juncker told Germany’s Focus magazine, adding that... 

The number of impoverished people in Russia has increased by 2.3 million and made up 22.9 million in one year, the Russian Federal Statistics Agency said. Many experts believe that official statistics does not reflect the real state of affairs and is very often undervalued. Therefore, it means that the number of the poor in the country grows much faster. According to official statistics, an impoverished... 

Inter RAO halted electricity supplies to Belarus as huge debt remains unpaid. Russia’s electricity export monopoly Inter RAO halted its supplies to Belarus at midnight as a huge debt remains unpaid. An agreement between Inter RAO UES and Belenergo stipulates the delivery of 3 billion kilowatt/hours of electricity to Belarus this year, with about 775 million kilowatt/hours having already been... 

The Greek Parliament voted in favor of the austerity measures by a narrow margin. The Greek parliament has voted in favor of new austerity measures, in a move that is expected to infuriate thousands of demonstrators outside the parliament. The austerity measures were approved on Wednesday with 155 votes in favor, 138 against and seven abstentions. Greece’s newly-approved austerity plan is worth... 

The International Monetary Fund said on Wednesday that the US debt burden is perilously unsustainable but warned against too-sharp fiscal adjustments that would slow the fragile economy. In its annual assessment of US financial strengths and weaknesses, the IMF also said that if the government does not hike its debt ceiling soon to accommodate current spending commitments, the impact could wreak havoc... 

Greece, Athens: Communist-affiliated unionists rally toward the Greek parliament on June 28, 2011. Greek trade unions have begun a 48-hour general strike against new austerity cuts which are due to go to a crucial vote on Wednesday. Some protesters are warning they will try to prevent MPs from entering the parliament. The strike is due to disrupt and even halt the work of most public services in Athens,... 

Chinese premier Wen Jiabao realised that his economy needs struggling Europe to keep buying its goods. It is in the interest of cash-rich China to help resolve the eurozone debt crisis, but Chinese premier Wen Jiabao, who is visiting Britain and Continental Europe, will want a share of the West’s buying power in return. As Wen Jiabao, the Chinese premier, stepped off his plane in Birmingham on Saturday,...