- The central bank of the United Arab Emirates says it is setting up a facility to provide banks with extra liquidity. The Central bank is expected to announce it will guarantee Dubai World debt before stock markets open on Monday.
- The rush by retail investors into gold has forced the US government to suspend sales of the world’s most popular bullion coin, the American Eagle, after running out of inventories for the second time since August of 08.
- Bloomberg reported that Europe holds $87 billion of debt from the United Arab Emirates and roughly $50 billion of that is held by British banks. The Royal Bank of Scotland is said to have the biggest exposure to Dubai World, with $2.3 billion of its debt.
- Freight traffic on U.S. railroads reached its highest level so far this year
- Japan's unemployment rate improved from 5.3% to 5.1% in October
- Vietnam devalued its currency by 5.4 % and lifted interest rates by 1% to try and choke off inflation.
- According to the China gold association, Chinas gold demand may be more than 450 metric tons this year, up from 395.6 tons in 2008, and output may climb to 310 tons, compared with 282 tons a year earlier.
- Iran’s government said it would build 10 new uranium enrichment sites and look into enriching uranium at higher grade inside the country.
- The US military could have captured or killed Osama bin Laden in 2001 if it had launched a concerted attack on his hideout in Afghanistan, according to a report from the Senate Foreign Relations Committee.
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