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The EU has expressed relief at the decision by Turkey’s Constitutional Court’s not to ban the ruling AK Party.
“This is a good day for Turkey and for Europe,” EU Enlargement Commissioner Olli Rehn told Reuters news agency.
He urged the Turkish government to “re-energise the reforms”. The political uncertainty has delayed progress in Turkey’s bid to [...]

Thailand’s Criminal Court has sentenced the wife of deposed prime minister Thaksin Shinawatra to three years in jail for tax evasion.
Passing sentence on Thursday, the court in Bangkok, the capital, found Potjaman Shinawatra guilty of failing to pay $16m in tax connected to the family’s telecommunications business.
She was released on bail pending an appeal - [...]

FRANKFURT (Reuters) - Deutsche Bank AG announced fresh writedowns on Thursday, taking its bill from the global financial crisis beyond $11 billion.
Germany’s flagship financier had originally been seen as one of the few to emerge unscathed from the crisis, but as the problems on global markets continue Deutsche Bank is being sucked ever deeper into [...]

JERUSALEM (Reuters) - Ehud Olmert said on Wednesday he would resign as Israel’s prime minister after his ruling party chooses a new leader in September, a move that plunged Middle East peace talks into limbo.
Olmert has been dogged by corruption scandals and his decision to bow out of his centrist Kadima party’s leadership contest and [...]

Radovan Karadzic, the war crimes suspect, has arrived in the Netherlands to face trial at The Hague on charges of genocide for his actions in the 1992-95 Bosnia war.
The former leader of the Bosnian Serbs is being detained at UN detention centre and will appear at the UN war crimes tribunal soon afterwards.
The plane carrying [...]

High level talks to rescue a global trade pact have collapsed after the US, China and India failed to compromise on farm import rules, trade officials say.
Pascal Lamy, head of the World Trade Organisation (WTO), said the talks in Geneva, Switzerland, failed because members of the organisation “have simply not been able to bridge their [...]

NEW YORK (Reuters) - Moody’s Corp (MCO.N: Quote, Profile, Research, Stock Buzz), the parent of Moody’s Investors Service, on Wednesday said second-quarter profit fell 48 percent, hurt by a steep slide in demand for credit ratings for structured products in the year-long credit crisis.
Results nevertheless topped analyst forecasts. McGraw-Hill Cos, which operates Moody’s main rival [...]

LOS ANGELES (Reuters) - An earthquake struck just east of Los Angeles on Tuesday, rocking tall buildings and rattling nerves across Southern California, but causing no serious injuries or major structural damage.
The quake hit at 11:42 a.m. local time (2:42 p.m. EDT) about 30 miles east of Los Angeles in suburban Chino Hills and registered [...]

Human rights group Amnesty International has accused China of breaking a pledge to improve its rights record when it was picked to host the Olympic games.
The group said the government’s rights record had in fact worsened, using the games as a pretext to crack down on thousands of activists as part of a campaign to [...]

Taliban fighters have killed three Pakistani army intelligence officers and taken 30 police officers hostage in the northwestern Swat valley.
The security officials were killed in retaliation for the torture of Taliban prisoners in custody, Taliban officials told Al Jazeera on Tuesday.
They said they had encircled the Swat valley police station and that the police were [...]