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BBC news with Larpa Cotarry.

Politicians in the United States have reached on a final draft of a rescue plan for the American financial system. The package, which still has to be voted on by both houses of the congress, would be the biggest intervention of the market since the Great Depression of the 1930s. The speaker of the house representatives, Lancy Closy, said the most important thing was to protect American jobs. “This isn’t about a bailout of Wall Street. It’s a buy-in, so that we can turn our economy around. We can help people who are saving for their pensions and retirement, and the educations of their children; saving so that they can stay in their homes. Small businesses can get credit, so that they can continue their transactions. The list goes on and on and come down to one word, JOBS.”

Some news just in. President Bush says he is confident that the congress would promptly approve the legislation needed to impliment the financial rescue plan. He said the aggrement sent a strong signal to the markets around the world that the United States was serious about restoring stability to the financial system.

The governments of Belgium, Netherland and Luxembourg have announced a multimillion-dollar plan to prop up one of Europe’s biggest insurance company Fortis. The Belgium prime minister, Eve Latarm said more than 16 billion dollars would be injected into the firm in a partial nationalization.

Iraqi police say a number of bombs exploded in Bugdad have killed at least 30 people with more than 70 injured. Hucites reports.

The day began with a car bomb explosion in west Bugdad in which one person died. Then late in the afternoon as people were out shopping for food for the Iftar Evening Meal there breaks the daily ruma and fast, a car bomb exploded killed at least 12 people in the southern city. After dark there were 2 explosions in the central Corrado District of the capital, a car bomb and a roadside bomb, again in a busy area. The Iraqi army said in the capital the violence has spiked in the past fortnight.

Pirates holding a Ukrainian ship, the Fiena, off the coast of St. Mallia with a carcol of millitary hardware onboard and now demanding a ransom of 20 million dollars for its release. One of the pirates has comfirmed that the vessel was sorrounded by foreign warships. Karen Anen reports from Nerroby.

Crews from the US NAVAL destroyer, the USS Howard are leading a show of force against the NV final. It’s now anchored near the port of Hobia, north of Mogadisue. Images released by the US military showed that the fast freighter dwarfing at cluster of speed boats with gangs of men onboard. It’s not uncommon for small speed boats involved in piracy attack to carry rocket lauchers and other missiles, which could badly damage a large ship.

This is Larpa Cotarry with the latest world news from the BBC in London.

The fate of a tourist group which has been kidnapped in Egypt a week ago remained unclear after a shootout between the kidnappers and security forces in the neighbouring Sudan. Today they were spotted by a Sudanese army patrol near the Libian boarder. According to the Sudaness authorities six of the kidnappers were killed. The Sudanese said the hostagees were later taken into Chad by the surviving kidnappers.

A convit in a French prison has been killed by a shot fired from outside the jail. Another prisoner was injured in the same shooting. The French minister of justice has gone to the Jail Niocano. Reporter said a man armed with a rifle was detained near the prison.

The interior ministry of Austia said that the governing social democrats have won most seats of the parliamentry election but far right parties made significant gains. The two centras parties, the Social Democrats and the Conservatives People’s Party suffered the worst result since the second world war. Ul-kaida, their leader of the far right alliance for Austria’s future said he was optimistic that his pary would form part of the new government. “I’m sure that the negotiation between the People’s Party and the Socialist Party will not be very successful, because both are in difficult situation. And therefore, I think after some talks between these two parties we will have the opportunity to negoticate the new government.”

The president of Ecuador, Rafarro Kurrea has claimed the victory in a referendum on a new constitution. Mr. Kurrea was speaking after the exit post suggests a YES vote of at least two thirds. The opposition has campaigned actively against the constitution saying it was an attempt by Mr. Kurrea to consolidate power and gain excessive control of Ecudor’s economy. The document grants the government more control of Ecudor’s vast energy resouces and lets Mr. Kurrea to stand for two more consecutive terms in office.

BBE news