Chinese ambassador attends memorial service

A Chinese diplomat made an unprecedented appearance at the 63rd anniversary of the world's first nuclear attack in the Japanese city of Hiroshima yesterday.

Scientists: Salt in Mars soil is not bad for life

Traces of a rocket fuel ingredient found in the Martian soil would not necessarily hinder potential life, mission scientists said on Tuesday.

US says Iraq spends little oil cash on post-war reconstruction efforts

Iraq has spent little of its growing oil revenues on rebuilding its war-ravaged infrastructure, while the United States has paid billions of dollars for reconstruction, a new US report said on Tuesday.

Business International

Corn leaps to record on US floods

Corn advanced to a record, extending its rally to a ninth session, as floods damaged crops in the US, the world's largest producer and exporter, threatening global food supplies.

High food prices 'here to stay'

High food prices "are here to stay" as governments divert resources to make biofuels, amass stockpiles and limit exports, according to Peter Brabeck-Letmathe, chairman of Nestle SA, the world's largest food company.

'Boost production to tackle global crisis'

Japanese Prime Minister Yasuo Fukuda yesterday urged world governments to step up agriculture production to ease the global crisis over rising food prices.

What if oil hits the $250 mark?

At $250 a barrel for crude oil, food prices double. The US, Japan and Europe plunge into deep recession. Companies go bankrupt. Sport-utility vehicle sales dry up as gasoline tops $7 a gallon.

Europe, Asia 'best placed' to handle slowdown

Asia and Europe are better placed than others to cope with the global economic slowdown, according to officials attending a meeting of finance ministers from the two regions in Jeju, South Korea.

IN BRIEF (Page 16)

Business International

InBev offers $46b for Anheuser-Busch

InBev NV offered to buy Anheuser-Busch Cos, the maker of Budweiser beer, for $46.3 billion in cash to create the world's biggest brewer with half of the US market.