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Obama says Romney must answer questions about Bain  HAMPTON: US President Barack Obama said Friday that his Republican rival Mitt Romney must answer questions about how long he was head of Bain Capital, in his first direct comments on the issue. Romney "is going to have to answer those questions, because if he aspires to being president, one of the things you learn is you are ultimately responsible for the conduct of your operations," Obama told ABC television affiliate WJLA. "I think that's a legitimate part of the campaign." He said Romney should answer these questions soon, with the November 6 elections just around the corner. The Obama campaign has seized on a Boston Globe report citing government records that appear to show the Republican remained in control of the private equity firm for three years beyond 1999, when he says he stepped down. The date could be important, as Bain Capital is alleged to have invested in firms that moved workers overseas ...

Cuba receives first cargo shipment from Miami in 50 years  HAVANA: A cargo vessel carrying humanitarian aid docked at Havana Bay on Friday with the first maritime shipment from Miami in the United States to Cuba in half a century. The Ana Cecilia sailed in shortly after 7:00 am (1100 GMT), carrying family goods, food, medicine and clothing, as well as medical equipment such as orthopedic mattresses and electric wheelchairs. Shipper International Port Corp. hopes to make this a weekly service between the United States and Cuba, ...
White House hits Romney over report on Bain tenure  WASHINGTON: President Barack Obama's re-election team went on the attack Thursday against Mitt Romney, accusing the Republican White House hopeful of lying about how long he remained head of Bain Capital. The Obama campaign seized on Thursday's Boston Globe report quoting government documents that showed Romney remained in control of the private equity firm for three years beyond the 1999 date he said he stepped down in order to manage the Winter Olympics in Salt Lake ...
US new jobless claims fall sharply to four-year low  WASHINGTONL: The number of Americans filing new claims for unemployment benefits last week fell sharply to the lowest level in four years, a hopeful sign for the struggling labor market, government data showed on Thursday. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 350,000, the Labor Department said. The drop, which brought new claims to their lowest level since March 2008, was much steeper than Wall Street economists expected. The prior week's figure was ...
US beefs up protection of economic data   WASHINGTON: The US Labor Department's adversaries are "profit-driven, technically sophisticated individuals who may have considerable resources at their disposal." They may secretly use surveillance equipment and "though they are willing to bend and potentially violate rules and laws, violence is unlikely as an operational method." But these are not James Bond villains or members of a shadowy criminal collective. The adversaries, according to one security firm, are more likely stock traders hell-bent on getting economic data as quickly ...
Pena Nieto defends Mexico victory amid vote probe calls  MEXICO CITY: Enrique Pena Nieto on Tuesday fiercely defended his victory in Mexico's presidential election, amid calls for an investigation into vote buying allegations. Pena Nieto of the Institutional Revolutionary Party won the July 1 ballot by a solid margin, according to official results, but left-wing runner-up Andres Manuel Lopez Obrador claims the PRI "bought" five million votes. In his first meeting with Mexican reporters since the election, Pena Nieto branded this charge "a lie, an unsubstantiated ...
IMF sees Libya growth skyrocketing 116.6pc this year  WASHINGTON: Economic activity in Libya is likely to rebound this year as the country rebuilds from civil war and oil production increases to levels last seen during Muammar Gaddafi's rule, the International Monetary Fund said on Tuesday. In a report on Libya's economy conducted by an IMF mission in May but published only now, the Fund forecast growth will skyrocket 116.6 percent this year, following a contraction of 60 percent in 2011. Growth next year is ...


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Foreign Debt $60.9bn
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