1. Weekly news updates
Submitted by:
Puneet kaur

2. Nokia to cut 1800 jobs for strong Q3
• Nokia reported stronger-than-expected profits for
the third quarter, boosted by strong demand for its
cheap smartphones, and said on Thursday it would
cut up to 1,800 jobs.

3. IMF says Asian currencies undervalued
despite gains
• Asian currencies need to strengthen further to
deter potentially dangerous hot money inflows and
help correct global trade imbalances, the
International Monetary Fund said on Thursday.

4. China sets to get big chunk of global
satellite market by 2015
• Bracing up to launch a host of new satellites,
including a communication satellite for Pakistan
next year, China has said it aims to become a
major global player in the international aerospace
industry by 2015 to get a big chunk of the
commercial satellite market.

5. Gays in limbo as US court reinstates
military ban
• An appeals court has let the US government
temporarily reinstate a ban on gays serving openly
in the military, frustrating the hopes of those left
in limbo by the judicial tug-of-war.

6. Goldman sachs may repay buffetts $5bn
investment
• Berkshire's cash investment in 2008 was seen as a
crucial vote of confidence for Goldman at a time
when most investors were keen on dumping
banking stocks.

7. 57 million men more than women
globally:UN report
• There are 57 million more men than women
globally, a UN report said. While much progress
has been made in ensuring the equal status of
women and men in many areas, much needs to be
done in closing the gender gap in areas like power
and decision making positions.