INVESTIGATORS probing the UN oil-for-food programme in Iraq said in a report yesterday that there is not enough evidence to show that UN Secretary-General Kofi Annan knew of a contract bid by his son’s employer.

UN diplomats say they are concerned that calls for Secretary-General Kofi Annan’s resignation and allegations of widespread corruption in the UN oil-for-food program in Iraq could derail plans for a sweeping reform.

Federal Reserve chief Alan Greenspan has warned that September 11 and volatile stock markets are still affecting the US economy.

FURTHER weakness in the US dollar has not been ruled out by experts in the short-term as nervousness about the depth of the economic recovery remains uncertain.

A brief surge of enthusiasm evaporated on Wall Street today, gradually pulling stock prices lower in what turned out to be another lacklustre session.

Reassuring words from Federal Reserve Chairman Alan Greenspan gave the US stock market a lift today but the rally fizzled after an analyst lowered earnings estimates for Cisco, prompting nervous investors to collect profits.