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French Finance Minister Christine Lagarde will likely become the next head of the International Monetary Fund (IMF), with backing of the United States and Japan, the Nikkei financial daily reported on Sunday, citing unidentified global financial industry sources in Washington.

Portugal will elect a new government on Sunday which will lead the country through a period of deep austerity and recession after it received a 78-billion-euro ($114 billion) bailout from the European Union and IMF.

A former chairman of one of Egypt's major banks was arrested Monday on charges of sexually abusing a maid at a Manhattan hotel, just weeks after the arrest of former International Monetary Fund chief Dominique Strauss-Kahn on similar allegations, police said.

Faced with a legal and media onslaught, Dominique Strauss-Kahn is pulling together a crack team of investigators, former spies and media advisers to fight back against charges he sexually assaulted a hotel chambermaid.

French Finance Minister Christine Lagarde on Wednesday launched her bid to lead the International Monetary Fund, a candidacy that would put the first woman in charge of the scandal-rocked fund but increases tensions with developing nations who want one of their as head.

DNA taken from former International Monetary Fund leader Dominique Strauss-Kahn matches material on the uniform of a hotel maid who says he sexually assaulted her, two people familiar with the investigation told The Associated Press....

The wife of former International Monetary Fund chief Dominique Strauss-Kahn said she is closing down her popular French blog.

Forget what the New York prosecutor says about Dominique Strauss-Kahn. The doubters in France are legion and the country is abuzz with conspiracy theories.

European officials rallied around Christine Lagarde, the French finance minister, despite calls for a transparent selection process.

Former IMF chief Dominique Strauss-Kahn spent his first night out of jail since his arrest on attempted rape charges, inside a Manhattan safe house on Saturday, well-hidden from the media gathered outside.