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Main news of October 3

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RUSSIA * Russia backs the idea of establishing a Caspian economic cooperation organization to oversee the littoral states' joint projects in energy... 03.10.2008, Sputnik International

2008-10-03T18:00+0000

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Main news of October 3

18:00 GMT 03.10.2008

RUSSIA

* Russia backs the idea of establishing a Caspian economic cooperation organization to oversee the littoral states' joint projects in energy, transportation and trade, a Russian first deputy prime minister said

* The State Duma adopted legal amendments paving the way for Russia's Central Bank to issue unsecured loans for up to six months to rated Russian banks

* Milk powder containing melamine, a toxic industrial additive that caused the deaths of at least four babies in China, was found in the southwest Siberian city of Tomsk, a source said

* Workers at a Ford factory near St. Petersburg prepared 600 suits against the plant's management over what they say is millions of rubles in night shift wage arrears, a trade union spokesman said

* A serviceman was killed in the early hours of Friday during a militant attack in Russia's North Caucasus republic of Chechnya, a local law enforcement source said

WORLD

* The U.S. House of Representatives approved a $700 billion bailout bill

* At least seven Russian peacekeepers were killed and three wounded when a car bomb exploded near the HQ of a peacekeeping battalion in Tsikhinvali, a South Ossetian spokesman said

* The USS Mason, an Evarts-class destroyer escort that is part of the U.S. missile-defense system, could dock in Georgia in the next few days, a Russian intelligence source said

* At least 31 people were killed and around 50 injured as floods swept the Algerian province of Ghardaia, 600 km (373 miles) to the south of capital Algiers, local media reported

BUSINESS

* The Russian RTS stock exchange suspended trading for the third time at 5:30 p.m. Moscow time (13:30 GMT) and announced trading would resume on Monday

* Russia's largest state-owned bank Sberbank signed a contract to take a $1.2 billion syndicated loan for three years, the bank said

* Russia saw $16.7 billion net capital outflow in July-September, the Central Bank said