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John Snow, the US treasury secretary, has said the disclosure of a massive US programme to monitor international banking records may weaken the war on terror.
The US president has nominated Henry Paulson, the chairman of Goldman Sachs, to replace John Snow as treasury secretary.
The time is ripe for China to move to a more flexible currency, US Treasury Secretary John Snow has said.

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Group of Seven financial powers have gathered in Washington with an eye on protecting rapid world growth by trimming a massive US trade deficit.

World finance chiefs will call for the stabilisation of the dollar whose slump some view as a threat to global recovery, sources have said.

The US dollar's steady decline in value against the euro and other key currencies may cause agony in European capitals, but there is little sign it is rising to the level of a major policy concern in Washington.
The global Islamic banking industry is worth about $260 billion dollars and is enjoying an annual growth rate of 23.5%, the General Council for Islamic Banks and Financial Institutions said in a statement.

The United States will keep up its push for flexible exchange rates at a Group of Seven finance ministers' meeting on Saturday despite signs Europe and Japan may be re

The United States on Friday announced it had ordered a freeze on the financial assets of 10 alleged members of the al Qaida-linked Jemaah Islamiyah (JI) group.

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