TEHRAN, Nov. 9 (Xinhua) — Iranian President Mahmoud Ahmadinejad said Wednesday that the Islamic Republic would not step back “an iota” from its nuclear path, following the release of a report from the International Atomic Energy Agency (IAEA) the previous day saying that Iran has engaged in activities relevant to the development of nuclear weapons.

Addressing a crowd in the central city of Shahr-e-Kord, Ahmadinejad said that “They (Westerners and IAEA) accuse us of building a nuclear bomb.” Continue Reading

ROME, Nov. 9 (Xinhua) — Italian Prime Minister Silvio Berlusconi said on Wednesday he will not stand if Italy holds early elections, a day after promising to step down once parliament approves urgent budget reforms for 2012.

“I will resign as soon as the law is passed. Since I believe there is no other majority possible, I see elections being held at the beginning of February and I will not be a candidate in them,” he told his own “Canale 5″ television station. Continue Reading

SAN FRANCISCO — Financial services company American Express on Tuesday announced a 100 million-U.S. dollar investment plan to fund early stage digital commerce startups, as part of a multi-year initiative designed to help accelerate the company’s digital transformation.

In a press release, the company said that the digital commerce initiative will be managed out of its newly established office in Silicon Valley. Continue Reading

BEIJING, Nov. 9 (Xinhua) — China’s consumer prices increased 5.5 percent in October from a year earlier, weakening from 6.1 percent in September, the National Bureau of Statistics (NBS) said Wednesday.

October’s consumer price index (CPI) growth marked the slowest surge since May this year, softening from 6.1 percent in September, 6.2 percent in August, 6.5 percent in July and 6.4 percent in June. Continue Reading

BAIKONUR, Kazakhstan — A Russian Mars probe launched early Wednesday has failed to reach its intended orbit, Russia’s space agency was quoted as saying.

The abnormality occurred after the Phobos-Grunt probe had separated from the Zenit-2SB launch vehicle, which blasted off from the Baikonur space center in Kazakhstan at 2016 GMT Tuesday, the RIA Novosti news agency reported. Continue Reading

BEIJING, Nov. 9 (Xinhua) — Some parts of central and south China are facing power cuts and electricity rationing as soaring coal prices discourage power plants from producing at full capacity, heightening concerns that the country has to live with power shortages over the next few months.

The country’s power shortage may peak at 40 million kilowatts in the winter and spring as demand growth outpaces supply, the China Electricity Council said in a report.

The industry group said coal inventories in some power plants in the provinces of Yunnan, Guizhou, Sichuan and Hunan are only able to hold up for seven days, while 17 provinces and cities, including Hunan, Hubei and Guizhou, may ration electricity to industrial users. Continue Reading

HAVANA, Nov. 8 (Xinhua) — President Raul Castro has named Army Corps General Leopoldo Cintra Frias minister of the Cuban Armed Revolutionary Forces (FAR), the government says.

Frias served previously as first vice minister of FAR and replaced Army Corps General Julio Casas Regueiro, who passed away on Sept. 3.

A government release said Tuesday that Frias is a hero of Cuba and a member of the Politburo of the Central Committee of the Cuban Communist Party (CCP). Continue Reading

BEIJING, Nov. 9 (Xinhua) — China is investigating its two telecommunications giants, China Telecom and China Unicom, over their suspected monopolistic practices in the broadband access business, the country’s top economic planner said Wednesday.

The National Development and Reform Commission (NDRC)’s probe into the two operators is the first anti-monopoly case involving large enterprises since China implemented its first anti-monopoly law in 2008. Continue Reading

BEIJING, Nov. 9 (Xinhua) — China’s national fiscal revenue rose 16.9 percent in October from a year earlier to 918.83 billion yuan (145.38 billion U.S. dollars), the Ministry of Finance said on Wednesday.

The annual growth rate was a pullback from 17.3 percent in September, 34.3 percent in August and 26.7 percent in July. Continue Reading

BEIJING, Nov. 9 (Xinhua) — China’s stocks ceased their recent declines and rebounded on Wednesday boosted by news that the country’s inflation eased last month as food prices posted slower price gains.

Government data released Wednesday showed that the consumer prices increased 5.5 percent in October from a year earlier, weakening from 6.1 percent in September. It also marked the slowest surge since May this year. Continue Reading