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Pakistan army will be watching Sharif's cosying up to India 11 minutes ago By Katharine Houreld ISLAMABAD May 20 - Pakistan's all-powerful military overthrew Nawaz Sharif 14 years ago and hustled him off into exile in handcuffs. Now he's back as prime minister-elect, with the army watching his every move, especially steps planned to ease tension with arch-rival India. Sharif's Pakistan Muslim League-Nawaz (PML-N) won 124 of 272 contested seats in this month's parliamentary election. Its nearest rival, the Pakistan People's Party, won just 31 in the first democratic handover of power since ... Read more | Comments

Indonesia's nationwide healthcare plan stumbles at first hurdle 20 minutes ago By Randy Fabi and Nilufar Rizki JAKARTA, May 20 - When a sick Indonesian baby died after 10 hospitals in Jakarta turned her family away in February, critics blamed a pilot health insurance scheme that had overwhelmed the city's public hospitals. The programme, introduced in November, gave health insurance to around 5 million people in Jakarta categorised as poor. Long queues quickly formed at already stretched hospital emergency rooms as many patients, some who were not even ill, sought to take advantage of being covered for the ... Read more | Comments

For Detroit in crisis, next six weeks determine bankruptcy fate 27 minutes ago By Bernie Woodall and Karen Pierog DETROIT, May 19 - Bond restructurings, negotiated settlements with bondholders and bond insurers, and tough talk with unionized workers are on the agenda as Detroit's emergency financial manager tries to meet a self-imposed, six-week deadline to decide whether the city can get through its financial crisis without a bankruptcy filing. Kevyn Orr, a former bankruptcy lawyer, in his first report to the state of Michigan since Governor Rick Snyder appointed him, laid out last week a bracing picture ... Read more | Comments

Obama tries to bounce back after tough week 1 hour 57 minutes ago By Steve Holland ATLANTA, May 19 - President Barack Obama complained on Sunday that partisan battles in Washington are holding back stronger U.S. economic growth as he tried to recover from one of the most difficult weeks of his presidency. On a trip to Atlanta, Obama did not specifically mention the three controversies that engulfed his administration last week and raised questions as to how much of his second-term agenda he will be able to achieve. His message was clear when he told Democratic donors that an American ... Read more | Comments

AP chief says phone probe makes news sources reluctant to talk 3 hours 46 minutes ago WASHINGTON, May 19 - The Justice Department's seizure of phone records for journalists at the Associated Press is hurting the agency's ability to gather news, the wire service's Chief Executive and President Gary Pruitt said on Sunday. 'Officials that would normally talk to us and people we talk to in the normal course of news gathering are already saying to us that they're a little reluctant to talk to us,' Pruitt said on CBS's 'Face The Nation' program. 'They fear that they will be monitored by the government.' The Justice ... Read more | Comments

UPDATE 2-UAE economy grows at fastest rate since 2006 5 hours 13 minutes ago By Martin Dokoupil DUBAI, May 19 - Economic growth in the United Arab Emirates accelerated to 4.4 percent in inflation-adjusted terms in 2012, the fastest clip since 2006, as activity picked up across all sectors, its statistics office said on Sunday. Robust oil prices as well as trade and tourism booms in Dubai, which is recovering from a 2008 burst property bubble, helped lift 2012 gross domestic product growth in line with expectations from a downward revised 3.9 percent in 2011. 'One of the most important factors is ... Read more | Comments

Glance-REFILE-PRESS DIGEST - Sunday British business - May 19 7 hours 54 minutes ago LONDON, May 19 - British newspapers reported the following business stories on Sunday: The Sunday Telegraph CARR IN POLE POSITION TO BECOME CHAIRMAN OF BAE SYSTEMS Roger Carr, Chairman of Centrica and outgoing president of the Confederation of British Industry, is the front runner to become the next chairman of Europe's largest defence contractor BAE Systems. MUDDY WATERS FOUNDER WARNS OF RISK IN CHINESE BANKING SYSTEM Carson Block, the founder of U.S. activist investor Muddy Waters, said in an ... Read more | Comments

Greece to sell Postbank, Proton in July, stress-test big banks 8 hours 59 minutes ago ATHENS, May 19 - Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-July with big banks continuing to absorb small lenders as part of plans to revive the battered sector, the country's foreign lenders said in an inspection review. Greece is recapitalising its four big banks and winding down others deemed non-viable to improve the sector's capacity to fund the economy out of a deep six-year recession. Banks suffered heavy losses from debt writedowns and bad loans. Small lenders Hellenic Postbank and ... Read more | Comments

Glance-PRESS DIGEST - Sunday British business - May 19 9 hours 2 minutes ago LONDON, May 19 - British newspapers reported the following business stories on Sunday: The Sunday Telegraph CARR IN POLE POSITION TO BECOME CHAIRMAN OF BAE SYSTEMS Roger Carr, Chairman of Centrica and outgoing president of the Confederation of British Industry, is the front runner to become the next chairman of Europe's largest defence contractor BAE Systems. MUDDY WATERS FOUNDER WARNS OF RISK IN CHINESE BANKING SYSTEM Carson Block, the founder of U.S. activist investor Muddy Waters, said in an ... Read more | Comments

FED FOCUS-US job market gains could lead Fed to taper QE3 early 9 hours 14 minutes ago Progress in labor market since bond-buying was launched Fed officials emphasizing flexibility of easing program Much depends on data over the next few months By Ann Saphir and Jonathan Spicer May 19 - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labor market do not prove fleeting. Much will depend on how economic data, which has given mixed signals for growth prospects, develops over the next ... Read more | Comments