Monday, September 28, 2009 WASHINGTON: World Bank President Robert Zoellick on Sunday warned that the United States should not "take for granted" the US dollar's role as pre-eminent global reserve currency."The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency, Zoellick said, in excerpts of a speech to be delivered Monday."Looking forward, there will increasingly be other options to the dollar," Zoellick said in the address to be given at Washington's John's Hopkins University.His speech on Monday comes ahead of World Bank and International Monetary Fund annual meetings in Istanbul, Turkey early next month.Addressing the recent global economic crisis, he faulted the world's central banks for having "failed to address risks building in the new economy," although in the case of Washington's Federal Reserve Bank, he said, "it will be difficult to vest the independent and powerful technocrats at the Federal Reserve with more authority.""My reading of recent crisis management is that the Treasury Department needed greater authority to pull together a bevy of different regulators" to manage the finance crisis.He added that since Treasury is an executive department "Congress and the public can more directly oversee how it uses any added authority."
Friday, August 14, 2009 MUMBAI: A 26-year-old woman died Thursday of H1N1 swine flu in the southern city of Bangalore, raising India's death toll from the virus to 20, authorities said.The death was the first reported in India's information technology capital, the Press Trust of India reported.Meanwhile in Pune, the worst-affected in India, two more victims of the virus died Thursday, raising the death toll in that western city near Mumbai to 12, the report said. The victims were an 11-month-old boy and a 75-year-old old woman.US media reported movie halls, schools and colleges were ordered closed Thursday for three days to a week in Mumbai, the commercial and financial capital of the country, as fear of the pandemic spread.Prajakata Lavangare, a spokeswoman for the government of Maharashtra state of which Mumbai is the capital, said similar orders were issued in Pune, which is also located in the state.The woman who died in Bangalore was identified only as Roopa, a teacher in
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