Times 2

World economy in turmoil

The United States lost its top-tier AAA credit rating from Standard & Poor's on Friday, hours after investors alarmed by the euro zone debt crisis forced Italy to speed up an austerity drive.

Saudi Arabia to build world's biggest tower

The world's biggest tower is to be built for $1.2billion in Saudi Arabia by the Bin Ladens. Prince Alwaleed bin Talal said he had signed a deal to build the 3,280ft high Kingdom Tower north of the Red Sea city of Jeddah.

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