Weekly news updates

Submitted by:

Puneet kaur

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.

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.

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.

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.

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.

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.