Local and international press digest

These are the main headlines of the local and international newspapers.

The Times says two motorcyclists, involved in a traffic accident in Żebbuġ on Thursday night, are in a critical condition. A man died in a separate traffic accident. In a second lead it reports that by 2025, diabetes will affect 12 per cent of all Maltese.

The Malta Independent leads with the traffic accident which claimed the life of 27-year-old Michael Grech. He was trapped in his car which caught fire immediately after it crashed into a tree in Qormi.

l-orizzont quotes the Malta Union of Teachers expressing doubts whether the University will open its doors next month in view of a pay dispute.

In-Nazzjon leads with the Prime Minister’s interview of the Granaries, as part of the Independence celebrations, in which he says that the reforms carried pout by various PN governments radically changed the country’s fabric.

Il-Ġens Illum says that the STMicroelectronics’ future in Malta is brighter as productivity levels are slowly returning to normal following months of uncertainty.

The Press in Britain…

The Times leads with the global financial markets' miraculous journey “to hell and back” over the past week, with days of severe losses followed by a rally on the world's stock exchanges.

The Daily Express says that millions of savers and pensioners will now breathe a collective sigh of relief.

The Independent asks if the turmoil is really all over yet.

The Sun says that city workers are toasting a £103bn share surge.

The Financial Times says global markets roared with approval after the US Treasury Secretary revealed a rescue plan for troubled financial institutions, hoovering up the bad debt that has threatened to topple them.

The Mirror calls the US rescue plan the "mother of all bail-outs".

The Scotsman continues to raise questions about how Halifax Bank Of Scotland (HSOB) was swallowed up by former rival Lloyds TSB during the week.

The Guardian wonders whether the market's record bounce will also see Prime Minister Gordon Brown rebound from a tough few months.

The Daily Telegraph quotes Jack Straw admitting rebel Labour MPs had approached him to try to win his support to force Gordon Brown from office.

The Daily Mail claims that Labour MP Keith Vaz may face a sleaze inquiry for supposedly intervening in a court case on behalf of a party donor.

The Daily Star reports that some 50 traffic wardens quit as new bosses started immigration checks.

The Daily Record says a car number plate issued in Scotland sold at auction for a credit crunch-busting price of £397,500.

Scots Independent says fishermen are being forced to dump almost half their catches of cod at sea due to the apparent abundance of the once-fragile stock.

And elsewhere…

According to The Pyongyang Times, North Korea is moving towards restarting its nuclear reactor. A foreign ministry spokesman said it had begun work to rebuild the Yongbyon nuclear plant after the administration claimed the US had failed to fulfil its obligations in a six-country nuclear disarmament deal.

The New York Times says diplomats from the five permanent members of the United Nations Security Council and Germany have met to discuss further possible sanctions against Iran to halt its nuclear work.

The Washington Times says NATO has denied Russian accusations that it provoked last month's conflict between Georgia and Russia and pledged "full solidarity" to the former Soviet republic.

Prague’s Blesk leads with the signing in London, between US Defense Secretary Robert Gates and his Czech counterpart Vlasta Parkanova, of the agreement to station US forces to operate a missile defence radar in the Czech Republic. Ten US interceptor missiles are also to be stationed in Poland.

Corriere della Sera quotes the Italian aviation authority saying it would ground Alitalia in 10 days if there was no new bailout proposal. Economy Minister Giulio Tremonti has told the Cabinet that hopes of saving the Italian national airline appeared to be fading rapidly.