Michael Jackson’s body released to there family

Michael Jackson’s body has been released to his family amid reports that the singer was regularly taking a cocktail of prescription drugs.

His body was taken to a mortuary late on Friday night at the request of the Jackson family who have yet to confirm their plans for the 50-year-old’s funeral.

Jackson was raised as a Jehovah’s Witness but before his death there were reports he had secretly converted to Islam. According to Muslim funeral custom the body is usually buried within days of the death.

Police and coroner’s officials are now examining the role prescription drugs may have played in Jackson’s death as it was reported that he was injected with the powerful painkiller Demerol shortly before he fell ill.

Entertainment news website TMZ reported that the singer received the shot at 11.30am the day of his death and The Sun said he was taking a cocktail of painkillers and other drugs.

Jackson was taking Dilaudid and Vicodin for problems with pain, Soma, a muscle relaxant, Xanax, a sedative, Zoloft and Paxil, anti-depressants and Prilosec for heartburn, said the newspaper.

Officers now want to speak to Dr Conrad Murray, a cardiologist who practices in California, Nevada and Texas. He will now be questioned further by detectives and his car was seized from outside Jackson’s house in case it contained drugs or other evidence.

Charlie Beck, assistant police chief of the Los Angeles Police Department, said it was “way too early” to draw any conclusions about the singer’s death.

He said officers spoke to Dr Murray immediately after Jackson’s death but now wanted to carry out “an extensive follow-up interview”.

Source Link – http://www.guardian.co.uk/uk/feedarticle/8579935

Obama administration seeks to quell bank fears

Obama administration seeks to quell bank fears Washington – President Barack Obama’s economic team sought to ease fears that US banks are on the verge of either collapse or nationalization amid reports Monday that the government is considering a large ownership stake in Citigroup Inc.

The Treasury, Federal Reserve and other government finance agencies issued a rare joint statement assuring investors that the administration “stands firmly behind the banking system during this period of financial strain.”

A so-called “stress test” to review the health of 20 major banks is set to begin on Wednesday. The review could give struggling banks access to more emergency government funds.

Hoping to stem another massive stock market downturn that gripped Wall Street last week, the group also said the government was working under a “strong presumption … that banks should remain in private hands.”

The statement made no specific mention of banking giant Citigroup. The Wall Street Journal reported Obama’s administration may increase its stake in the troubled banking giant to as much as 40 per cent.

The government has already injected 45 billion dollars in Citigroup in exchange for an 8-per-cent stake. (dpa)

Gold touches new peak at Rs 15,200

Gold touches new peak at Rs 15,200 Gold touched new heights at Rs 15,200 per 10 gram in the morning trading in Delhi, in line with significant rise in gold prices in the international market. Another reason for high price in India was decline in Indian currency and stock market.

Stockists kept on buying the precious metal, considering it as the safest investment mode amid tight financial conditions under the impact of global slowdown. Asian investors have shown high interest in the metal in order to preserve their wealth in the wake of global slowdown, fearing grimmer situation ahead.

Gold touched 960.20 dollars an ounce, the highest since July 22, in the foreign market according to Asian Pacific MSCI index. Experts believe that this trend would continue for some time due to uncertainty in stock market and deepening of global financial crisis besides large scale buying by retailers for the current marriage season.

The condition was not different for gold futures which touched Rs 15,050 per 10 gram in early deals. MCX Gold August contract was traded with increase of 2.35 percent while COMEX Gold touched a new level at $948.80 per ounce in the early Asian trades.

Poland calls off Pakistani visit after Taliban killing of Pole

Poland calls off Pakistani visit after Taliban killing of PoleWarsaw – The Polish Senate speaker on Tuesday called off a visit from the head of the Pakistani Senate amid the recent killing of a kidnapped Polish engineer by the Taliban in Pakistan.

Senate speaker Bogdan Borusewicz said the cancellation wasn’t a move directed “against Pakistan,” but that the talks would not be possible “in such an atmosphere.”

“I didn’t see the possibility of cooperation after our countryman was murdered,” Borusewicz told reporters.

Pakistani militants released on Sunday what appeared to be video footage of the Polish engineer’s beheading. They had offered to exchange him for 61 of their colleagues held by Pakistan.

Stanczak was seized by militants who ambushed his vehicle in Pakistan’s Attock district, 85 kilometres from the capital Islamabad, last September 28. The militants first killed the driver and two guards. (dpa)

Tokyo stocks down on profit-taking

Tokyo stocks down on profit-taking Tokyo – Tokyo stocks ended lower Thursday as investors sold shares to lock in profits from the previous day’s gains amid spreading concerns about the Japanese economy.

The benchmark Nikkei 225 Stock Average dipped 89.29 points, or 1.11 per cent, to close at 7,949.65. The index had snapped a three-day losing streak Wednesday, rising more than 2 per cent to close above 8,000.

But market sentiment was dampened Thursday after a series of sluggish corporate earnings reports and by the economic outlook at home and abroad.

The broader Topix index of all first section issues was also down 6.37 points, or 0.8 per cent, at 786.41.

On currency markets at midday (0300 GMT), the dollar traded at 89.30-35 yen, up from Wednesday’s 5 pm quote of 88.87-89 yen.

The euro was quoted at 1.2825-30 dollars, down from late Wednesday’s quote of 1.2981-83 dollars, and at 114.55-60 yen, down from 115.36-40 yen. (dpa)

Sanyo Electric suffers net quarterly loss

Sanyo Electric suffers net quarterly loss Tokyo – Sanyo Electric Co on Thursday reported a net loss of 14.33 billion yen (160.33 million dollars) during the quarter that ended December 31 amid the global economic downturn and the yen’s surge against the dollar.

The Japanese electronics company logged a net profit of 12.78 billion yen during the same quarter a year earlier.

Sanyo’s operating income plunged in its third quarter to 6.87 billion yen from 28.96 billion yen a year earlier.

Sales dropped 22.4 per cent to 427.52 billion yen.

For the first nine months on Sanyo’s fiscal year, its net profit dropped 36.3 per cent to 18.32 billion yen.

Its nine-month operating profit also declined 44.9 per cent to 30.83 billion yen on sales of 1.43 trillion yen, down 6.4 per cent from the previous year.

Sanyo maintained its full-year earnings forecast from the projections it announced in January, expecting net income of 28.7 billion yen and operating profit of 30 billion yen on sales of 1.9 trillion yen. (dpa)

Somali former president arrives in Yemen seeking political asylum

Sana’a, Yemen  – Somalia’s former Somali President Abdullahi Yusuf Ahmed, who resigned last month amid an internal power struggle, arrived in the Yemeni capital Sana’a Tuesday seeking political asylum, Yemeni officials and a Somali diplomat said.

Yemeni officials said Yusuf had expressed his wish to receive political asylum in Yemen until he decides a permanent residence.

A Somali diplomat said Yusuf was accompanied by his wife and 17 other family members and security guards upon his arrival in Sana’a.

“I think he wants to stay in Yemen for a short period, and then he might go to the United Kingdom for medical treatment,” the diplomat told Deutsche Presse-Agentur dpa, asking not to be identified.

“When he resigned, he mentioned Yemen as one of the countries in which he wished to live,” the diplomat said.

Yusuf resigned on December 29 after political infighting reached new heights when he defied parliament to sack Prime Minister Nur Hassan Hussein.

Somalia has been has been wracked by conflict since the 1991 ouster of dictator Mohamed Siad Barre.

The crisis deepened when Ethiopian forces invaded the country two years ago to help kick out a hardline Islamist regime, sparking a bloody insurgency that has killed over 10,000 civilians. (dpa)

Polish lawmaker resigns from commission over prostitution remarks

Polish lawmaker resigns from commission over prostitution remarks Warsaw – Polish member of parliament Janusz Palikot resigned Tuesday as head of the Friendly State commission after insulting a former opposition minister, local media reported.

His party had recommended that Palikot be taken off the commission after he accused Grazyna Gesicka of “prostitution” over the former minister’s alleged poor management of European Union funds for Poland.

Palikot said he did not agree with the recommendation, but did not want to put fellow party members in an “awkward situation.”

Palikot is well-known for his eccentric antics. He has faced charges of defamation for calling President Lech Kaczynski a “pig”.

He recently offered up a bloodied pig’s head during an appearance on late-night TV as a gift to the “Polish football federation mafia,” amid a spur between the federation and football’s world governing body FIFA over corruption in the sport.

The Friendly State commission works towards creating simpler laws, and less red-tape and bureaucracy. (dpa)

Top Fiat official says Turin giant is in talks with Chrysler

Top Fiat official says Turin giant is in talks with Chrysler Rome – Fiat deputy chairman John Elkann said Tuesday that the Turin-based carmaker is in talks with Chrysler amid reports of a possible purchase by the Italian company of a majority stake in the ailing US producer.

“It is no secret that we are talking. It has been a while that we are in talks,” Elkann, a heir of the Agnelli family which controls Fiat, was quoted as saying by the ANSA news agency.

Elkann indicated more details on a possible deal would be available following a Fiat statement later Tuesday and a meeting of the company’s board scheduled for Thursday.

Earlier Tuesday, Milan’s Bourse announced trading in Fiat stocks had been suspended pending the statement’s release.

The Wall Street Journal reported Monday that Fiat is considering acquiring a 35-per-cent ownership in Chrysler by mid-year as the first step towards the acquisition of a possible majority stake in the US company.,

The deal would give Fiat long-sought access to the US market for its small and mid-sized cars, with the Fiat 500 and Alfa Romeo reported to be at the top of the list.

Under the deal, Fiat could build its own small cars in the US and use the Chrysler distribution network. In exchange, Chrysler would tap Fiat’s expertise building small and medium-sized cars to advance its own plans for new, front-wheel-drive models with lower emissions.

As petrol prices soared and the economy stalled, sales of Chrysler’s mostly large, fuel-inefficient cars and trucks fell 30 per cent in 2008.

With auto sales at a 27-year low, Chrysler has laid off tens of thousands of workers and had to beg for government rescue financing of 5.5 billion dollars just to stay afloat for the next few months.

The loan terms require Chrysler to deliver a credible survival strategy by March, and an alliance with Fiat would be a tangible new strategy.

Fiat, which exclusively makes small cars with narrow profit margins, is struggling to keep its own head above water in Europe’s expensive labour market. (dpa)

Toyota suffers 4-per-cent drop in 2008 global sales

Toyota suffers 4-per-cent drop in 2008 global salesTokyo – Toyota Motor Corp said Tuesday that its global sales in 2008 fell 4 per cent from the year before as consumption waned amid the global economic slowdown.

Despite the sales drop to 8.97 million cars, Japan’s leading automaker said it still expected to become the world’s top automaker by sales, overtaking General Motors Corp for the first time. In terms of global production, Toyota became the world’s top auto producer in 2007.

The US auto giant had been more than 300,000 units in sales behind Toyota in the first nine months of the year. It is due to announce its end-of-year figures on Wednesday.

Toyota’s domestic sales dipped 5 per cent to 2.15 million units, and overseas sales fell 4 per cent to 6.82 million units, the company said.

It has been hit hard by a rising yen and a slowdown of exports caused by the global financial crisis.

The automaker has forecast an operating loss of 150 billion yen (1.66 billion dollars) for its 2008 fiscal year, which ends in March.

Toyota also said Tuesday that it promoted vice president Akio Toyoda, 52, to company president, effective in June, to pull the business out of its slump.

Toyoda, the grandson of the company’s founder, would be the first founding family member in 14 years to head the company.

Current president Katsuaki Watanabe is to become vice chairman and Chairman Fujio Cho is to retain his post, the company said.

The appointment is to be finalized at a board meeting scheduled after an annual shareholders meeting in late June. (dpa)

German investor confidence tipped to edge up

German investor confidence tipped to edge up Berlin – German investor confidence could edge up again this month, a key indicator to be released Tuesday is forecast to say, amid efforts from governments and central banks around the world to halt the downturn underway in the global economy.

Drawn up by the Mannheim-based Centre for European Economic Research, the ZEW index is forecast by analysts to post a marginal increase to minus 44.5 points in January after posting a bigger- than-expected rise to 45.2 in December.

An increase in January would represent the third consecutive rise in the index.

This is despite fresh evidence of the continuing turmoil in the global banking sector and the rapid contraction in world economic growth.

However, the build-up to the release of the ZEW index has been accompanied by a new wave of government economic stimulus packages announced around the world, including Germany, as well an on-going drive by central banks to cut rates.

European Central Bank (ECB) chief Jean-Claude Trichet warned in a speech in Paris on Monday that the bank’s governing council members believe that “world and European growth in 2009 will be substantially lower than the forecasts made at the beginning of December.”

This comes after the ECB last week again joined other central banks and delivered another hefty cut in borrowing costs with economists expecting the ECB to press on with its rate-cutting cycle in the coming months.

Nevertheless, many economists believe that the first signs of an economic recovery in Germany and Europe could start to emerge during the second half of 2009 paving the way for a pickup on 2010.

Based on a survey of about 290 analysts, the ZEW indicator often sets the scene for other major European economic sentiment surveys released later in the month, including Germany’s closely watched Ifo business confidence survey. (dpa)

Breakthrough eludes Zimbabwe negotiators

Breakthrough eludes Zimbabwe negotiators Harare/Johannesburg – Another round of talks between Zimbabwe’s leaders that had been billed as make or break for the country’s power-sharing agreement ended late Monday in stalemate.

“We came to this meeting hoping that we put the people’s plight to rest,” opposition leader Morgan Tsvangirai told reporters after around 12 hours of closed-door talks in a city centre hotel with his archrival, President Robert Mugabe, another opposition leader and mediators.

“Unfortunately there hasn’t been progress,” Tsvangirai said.

Mugabe, 84, conceded that the talks “did not go very well.”

Brokered by a team from the Southern African Development Community (SADC), the talks were aimed at ending a four-month impasse between Mugabe’s Zanu-PF and Tsvangirai’s Movement for Democratic Change on the implementation of the September power-sharing accord.

South African President Kgalema Motlanthe led the team, which also included Thabo Mbeki, SADC’s official mediator in Zimbabwe, and Mozambiquean President Armando Guebuza.

Mugabe said that the SADC had proposed a unity government with Tsvangirai as prime minister, to be sworn in as quickly as possible to begin the task of rebuilding the country. The deal would see Mugabe remain as president.

“(Tsvangirai’s party) gave a proposal which was obviously in conflict with the SADC proposal, which we have opposed, and then (the dialogue) broke down,” the visibly annoyed Mugabe said.

While Mugabe had previously threatened to forge ahead with forming a government minus the MDC in the absence of a breakthrough, he softened his stance somewhat, saying: “We will continue to discuss here at home. We shall continue exchanging ideas.”

SADC executive secretary Tomaz Salamao said that a special summit of the 15-nation SADC would be held on January 26 to try to advance the mediation. The meeting would take place either in Johannesburg or Botswana’s capital Gaborone, he said.

A previous SADC special summit on Zimbabwe in November failed to make any headway.

The failure of Monday’s talks came as little surprise.

The MDC had made clear that it would not go into government with Mugabe until its demands had been met for a fairer distribution of ministries and other key positions between it and Zanu-PF. The party is also seeking the release of dozens of political prisoners, among other demands.

Zimbabwe’s ongoing cholera and food crises have lent urgency to attempts to get a credible government up and running.

More than 2,200 Zimbabweans are estimated to have died of cholera since August, amid the breakdown of sewage and water systems, and half the country’s 10 million to
12 million people require food aid.

The outbreak has spread across Zimbabwe’s borders into neighbouring South Africa, Mozambique and Zambia. In South Africa, the death toll rose sharply Monday, with
19 people reported to have succumbed to the disease in the north-eastern Mpumalanga province, a tourist hub.

More than 30 people in South Africa have succumbed to the disease in recent months. (dpa)

Cash crunch may see mass exodus of stars from English Premier League

London. Jan 9 (ANI): English football fans fear a mass exodus of top football stars amid claims that the Premier League is facing a cash crisis.

Sports experts reckon the world’s best league could lose key sponsor Barclays, as the bank tightens its belt to beat the credit crunch, the Daily Star reported.

Officials would be left with a 70million pounds black hole if the firm decides to pull funding from next year.

And if the league is suddenly plunged into the red, other countries with more cash to spend could take advantage and nab top stars like Wayne Rooney, Steven Gerrard, and John Terry.

The Football Supporters’ Federation is even warning that several big name clubs could go bust as they struggle to keep up with soaring player wage demands.

It also reveals real fans are being priced out of the game.

Jon Keen, of the FSF, admitted: “It’s a real possibility some of our stars could leave. If sponsorship dried up for the Premier League then its prize money and payments to all 20 clubs could be cut.”

“The clubs would then be forced to slash costs on player transfers and their wages. The problem is the Premier League’s business model is not sustainable. The clubs are relying on rising sponsorships and riding on debt. Chelsea and Man United alone are in debt to the tune of some 1.5billion pounds,” Keen added.

Moneymen at Barclays were torn when the firm agreed the current three-year deal at the height of Britain’s economic boom.

Some reportedly felt a 70million pounds bill when the bank was only spending a “meager” 5million pounds to promote the fact it sponsors the Premier League was too big a price to pay.

And with only a year-and-a-half left on the deal, and a dire financial outlook, experts reckon Barclays’ enthusiasm to back the game could completely dry up.

The bank has taken a 1.3billion pounds hit during the credit crunch and bosses are being urged to tighten their belts wherever possible, including major sponsorships.

John Varley, group chief executive, believes the country is only half way through the downturn and is preparing the business for long-haul hardships.

But Barclays was last night playing down concerns over its future sponsorship of the Premier League. (ANI)

Japanese govt under fire for rewriting wartime history in school textbooks

London, Jan 9 (ANI): Japanese government is under attack for its apparent attempts to rewrite its wartime past in the new school textbooks.

The government had decided two years ago to delete or rewrite references to 1945 Battle of Okinawa in the history books, where the military apparently forced the civilians into mass suicides faced with defeat.

According to new reports, education officials have agreed to restore the passages in new books, but it will not contain the word “forced” in the context of the Imperial Army”s role in the suicides.

Instead, the wording has been delicately rephrased to state less directly that people were “driven to suicides amid the Japanese military”s involvement”.

“It must be proved that descriptions in textbooks impose troubles to study when we approve revisions. There is no problem in the description that the military was involved,” the Telegraph quoted a senior official at the Ministry of Education, Culture, Sports, Science and Technology as telling a newspaper.

The historians who have long urged the government to accurately depict the version of events widely accepted according to historical research. (ANI)

Shias observe Ashura across Pakistan

slamabad, Jan.8 (ANI): Thousands of Shia Muslims held peaceful Ashura processions amid tight security across Pakistan on Thursday, commemorating the death of the Prophet Mohammed”s grandson Imam Hussein.

Police and paramilitary soldiers escorted the Shia community”s parades in several major cities, and commandos were perched on some rooftops along the routes in a bid to prevent violence, the Dawn reported.

Curfew was imposed the northwestern town of Hangu on Wednesday, where 40 people were killed in an Ashura attack in 2007 and 12 people were wounded in a mortar attack outside a Shia mosque last year.

Shia Muslims stage religious processions on Ashura to commemorate the death of Imam Hussein at Karbala in modern-day Iraq in 680 AD.

The mourners recited elegies, carried black banners and marched behind replicas of Imam Hussein”s tomb in Iraq, with some beating their chests and whipping their backs with flails in a bloody display of devotion.

The Ashura procession in Islamabad ended at a Shia mosque in Rawalpindi.

A similar procession in Lahore was to end at a mosque in the old part of the city late Thursday.

Other major Ashura events were held in Karachi and parts of central Punjab province, southwestern Balochistan and North West Frontier Province.

Shias make up about 20 per cent of Pakistan”s Sunni-dominated population of 160 million people. (ANI)

Obama likely to revise Bush’s counter-terrorism efforts

Washington, Jan.8 (ANI): US President-elect Barack Obama is preparing to scrap the way President Bush oversaw domestic security in the White House and name a former Central Intelligence Agency official to coordinate future counter-terrorism efforts.

Quoting people close to the Obama transition team, the New York Times said that a plan is being discussed to eliminate the independent homeland security adviser’s office and assign those duties to the National Security Council to streamline overlapping functions.

The paper also reveals that a deputy national security adviser would be charged with overseeing the effort to guard against terrorism and to respond to natural disasters.

Democrats close to the transition said Obama’s choice for that job was John O. Brennan, a longtime C.I.A. veteran who was the front-runner to head the spy agency until withdrawing in November amid criticism of his views on interrogation and detention policies.

His appointment would not require Senate confirmation.

Though Obama has made no final decision about how to structure domestic security in his White House, his advisers plan to wait until his inauguration to conduct a formal review.

Several key advisers have publicly advocated folding it into the National Security Council, and those involved in discussions said the only real questions appeared to be how to do that and how to explain it without looking like domestic security was being downgraded as a priority.

Bush’s aides, including the national security adviser, Stephen J. Hadley, have privately urged Obama’s advisers not to get rid of the separate homeland security office, warning that it would load too many responsibilities on the National Security Council and risk important matters’ falling through the cracks.

In his new capacity, Brennan would report to Marine General (retired) James L. Jones, who is slated to serve as Obama’s national security adviser.

The idea of merging the two councils has been recommended by a number of reports, most notably in November by the Center for American Progress Action Fund and by Third Way. Among those preparing their report were John D. Podesta, Obama’s transition co-chairman, and members of his team. (ANI)

Pakistan Occupied Kashmir gets new Prime Minister

Muzaffarabad, Jan 7 (ANI): The newly elected Prime Minister of Pakistan Occupied Kashmir (POK), Sardar Yaqub, took oath of office.

POK President Raja Zulqarnain Khan administered the oath on Tuesday, the Online reported.

Former POK Prime Minister Sardar Attique Ahmed was removed from office in a no-confidence vote amid allegations of corruption and nepotism; the Daily Times quoted sources, as saying.

Attique received only 17 votes against 31 in favour of Yaqub, they added.

Attique accused the government in Islamabad of engineering his ouster.

Attique’s supporters chanted anti-Zardari slogans outside the legislative assembly in Muzaffarabad.

“The central government interfered in our political system at a time when India was planning to attack,” he told reporters.

Attique’s ouster came amid a split in his Muslim Conference party. Yaqub leads the party’s breakaway faction that has the backing of the opposition including the PPP.

Raja Farooq Haider, who introduced the no-confidence motion, claimed Attique’s government had been working for the partition of Kashmir. (ANI)

Toyota to suspend domestic plant operations to cut output

Toyota to suspend domestic plant operations to cut outputTokyo – Toyota Motor Corp decided to further reduce output by halting operations for 11 days at 12 domestic plants in February and March, the company said Tuesday.

Due to rapid decline of overseas demand, the leading automaker suspended operations for three days this month at almost all its domestic factories.

Toyota also plans to stop some production lines during the night shift at 13 parts-factories including subsidiaries in and outside Japan this month.

The automaker recently lowered its global sales projection for 2008 by 4 per cent from an initial forecast to 8.96 million units.

Toyota expects the first operating loss in the company’s history for the fiscal 2008 amid global financial crisis. (dpa)

Czech gas deliveries drop for second day amid Russia-Ukraine row

Czech gas deliveries drop for second day amid Russia-Ukraine rowPrague – The Czech Republic’s natural gas deliveries dropped for the second day Monday as a gas row between Russia and Ukraine continued, a gas importer said.

Martin Chalupsky, a spokesman for the country’s leading gas importer, RWE Transgas, said the firm on Monday received 9.5 per cent less gas than ordered for the day.

He said that the drop amounted to 1.7 million cubic metres of gas, or 2 per cent of country’s daily consumption. He said the reduction would have no impact on Czech consumers.

“As the drop it so small we are able to cover these shortfalls by raising supplies from underground storage tanks,” Chalupsky told Deutsche Presse-Agentur dpa.

He said the firm had enough gas for two months if daily delivery drops of 5 to 20 per cent would continue amid current freezing conditions.

“We are convinced that we will cover the whole winter season with storage supplies,” he added.

The company, which commands a 71-per-cent share on the Czech market, recorded the first delivery drop of 5 per cent on Sunday, four days after Russia’s gas export monopolist Gazprom turned off gas supplies to Ukraine.

The European Union’s eastern members have issued conflicting reports on gas delivery rates since Friday.

The EU dispatched a Czech-led fact-finding mission to Kiev on Monday to clarify the situation surrounding Russia’s delivery cut to Ukraine.

The EU, which is chaired by the Czech Republic until June 30, has so far rejected calls to broker what it calls a “commercial dispute” between the two neighbours.

The bloc strongly urged both countries to reach a deal and renew full gas supplies to the 27-member bloc. (dpa)

Japan’s new car sales plunge to 34-year low in 2008

Japan's new car sales plunge to 34-year low in 2008 Tokyo – New car sales in Japan dropped the lowest in 34 years in 2008 as consumer appetite waned amid economic recession, the Japan Automobile Dealers Association said Monday.

The sales of new cars fell to 3,212,342 units in 2008, down 6.5 per cent from the year before, the association said. The figures exclude small car sales.

Annual sales in the record year of 1990 reached 5,975,089 units.

Sales of passenger cars fell 5.2 per cent, while truck sales declined 14.8 per cent and bus sales dipped 1.8 per cent.

Due to sales declines, Japanese automakers cut output, investment plans and lowered their earnings forecast for the full fiscal year through March 31. (dpa)