March 25th, 2010
06:41 AM ET

World update: Russia and U.S. on verge of arms agreement

An update from London on some of the stories we're expecting to develop through the day Thursday:

Arms deal - Talks between Russia and the U.S. on a new arms-control agreement are "almost at the finish line," a U.S. State Department official says. The Czech government has agreed to host the signing of the agreement which would reduce the number of deployed strategic warheads each side can have.

Dubai debt - Dubai's government has announced plans to bail out its state-owned holding company, Dubai World. Last year's financial meltdown of Dubai World rippled through stock markets worldwide. The reorganization includes $9.5 billion in new funding from Dubai's government.

Greek economy - European Union leaders are holding a two-day summit aimed at helping heavily indebted Greece and safeguarding the stability of the eurozone.

Philippines quake - A 6.1-magnitude earthquake struck the Philippines early Thursday afternoon. The epicenter was about 86 miles from Manila, and was about 45 miles deep, according to the U.S. Geological Survey. There were no immediate reports of damage or injuries.

Turin shroud - The Catholic Church is preparing to once again roll out the world's most famous relic – the Turin Shroud, said to be the burial cloth of Jesus. Traditionally, a public display of the shroud occurs once every 25 years, but the Vatican is bringing it forward by 15 years to help boost Turin's economy.

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