The following are the top stories in the Maltese and overseas press:
The Times says Liquigas has won the battle on the ownership of gas cylinders following a legal notice issued yesterday. The cylinders belong to that company which first placed them on the market.
The Malta Independent reports how bad weather lashed Malta and Gozo. It also carries a feature on the spread of the uprisings in North Africa, focusing on the situation in Misurata.
MaltaToday reports that the PN is remembering the violence of the 1980s but forgetting what happened to the involved policemen afterwards.
l-orizzont carries a picture of an overturned car near Mosta after yesterday’s storm. In its main story it says 5.6% are falling into poverty because of the power tariffs.
In-Nazzjon reports that 152 refugees have started a new life in Germany. It also carries pictures of yesterday’s storm.
The overseas press
Reuters reports Asian shares and the euro inched up this morning after European officials agreed to strengthen a bailout fund and seek more aid from the International Monetary Fund to help lend to troubled economies. The index of Asia Pacific shares outside Japan was up 0.14 per cent but Japan's Nikkei fell 0.8 per cent. The euro also rose 0.1 per cent to $1.3330, but still well below Tuesday's high of $1.3443. U.S. stocks rallied on Tuesday on eurozone hopes as well as a report which showed consumer confidence bounced back in November from a 30-month low in another sign the US economy remained on a recovery path.
Börzen Zeitung says eurozone finance ministers have agreed details of two ways to leverage the strength of the EU bailout fund – the €440-billion European Financial Stability Facility (EFSF) – using both an insurance scheme and a co-investment programme. They also agreed to extend further aid payments to Greece and Ireland. Eurogroup President Jean-Claude Juncker announced they had agreed to rapidly explore ways of boosting the IMF's resources through bilateral loans so it could match the leveraged EFSF's capabilities.
Meanwhile, Sole 24 Ore says Italy has had preliminary discussions with the IMF about financial support to cope with the eurozone's debt crisis. Italy was forced pay a record 7.89 per cent yield for its three-year bonds on Tuesday, above levels which Greece, Ireland and Portugal were forced to apply for international bailouts.
The Wall Street Journal leads with Standard & Poor's downgrading of the long-term credit grades of a string of major financial firms in a move it said reflected “new criteria for banks, based on changes in market trends and government support”. Bank of America and Goldman Sachs, along with Barclays, HSBC, and some firms in Germany and France were affected. Downgrades could increase banks' borrowing costs and put further pressure on their shaky finances.
The Financial Times says that up to two million public sector workers are staging a strike over pensions in what is set to be the biggest walkout for a generation. Schools, hospitals, airports, ports and government offices will be among sites disrupted, as more than 1,000 demonstrations are due across the UK. Unions object to government plans to make their members pay more and work longer to earn their pensions.
The Times quotes British Prime Minister David Cameron saying Iran would face serious consequences after hundreds of protesters stormed two British diplomatic compounds in Teheran. The incident followed a demonstration against sanctions imposed on Iran because of its nuclear programme. The Iranian Foreign Ministry regretted “the unacceptable behaviour of a small group of protesters”.
Al Ahram announces that the counting has started of votes cast Egypt’s first parliamentary elections since Hosni Mubarak was overthrown. Senior officials have described the turnout in the second day of voting as “massive” and “unexpected”. General Ismail Atman, a member of the ruling council of army generals, said he expected turnout in this first round of voting to exceed 70 per cent.
The secretary general of the Arab League has said its approval of unprecedented sanctions recently agreed by Arab states has sent a very serious political message to Syria. Nabil al-Arabi told the BBC that the Syrian government could not carry on as if it was business as usual. He said the new sanctions would come into force on Saturday unless Syria kept its promises.
The New York Times says Republican presidential hopeful Herman Cain was re-assessing his campaign after allegations of an extra-marital affair. He said he was only friends with his accuser, an Atlanta businesswoman Ginger White.
NRC Handelsblad reports that the former president of Ivory Coast, Laurent Gbagbo, is expected in the Netherlands to face the International Criminal Court in the Hague. He is being investigated over violence following last year’s disputed presidential election. It is not clear what charges Mr Gbagbo will face at the ICC, but around 3,000 people died in the post-election violence provoked by Mr Gbagbo's decision to cling to power.
The Los Angeles Times says Dr Conrad Murray, the US doctor convicted of the involuntary manslaughter of Michael Jackson, has been given a maximum sentence of four years in jail. The judge said Murray had continually lied and was caught in a cycle of medicine madness.
Il Tempo reports that a nurse in Italy has been arrested for allegedly working for just six days in nine years. According to police, the 45-year-old woman has been accused of creating false stories, including making up two pregnancies and obtaining fraudulent sick notes from doctors, to avoid doing her job. The woman has also been accused of defrauding the state. Her arrest is part of a crackdown of absenteeism within the Italian public sector.