The following are the top stories in the Maltese and overseas press
The Times and the other newspapers give prominence to the Mepa statement pointing to the Marsa power station as the likely cause of the ‘black dust’. It also reports that Parliament may may meet early to ratify Malta’s contribution to the Greek bailout.
The Malta Independent says Malta bought 3,000 ounces of gold because of financial turbulence.
l-orizzont says members of the judiciary will boycott Independence celebrations.
In-Nazzjon quotes Dr Gonzi cautioning about international financial instability.
The overseas press
The Wall Street Journal reports that the euro fell sharply against the dollar and the yen. in today’s early Asian trading after Standard & Poor's announced a downgrade of Italy, while talks on Greece failed to reach an agreement needed to ensure new loans. S&P lowered Italy's sovereign debt rating to A from A+, citing weak economic growth and growing political problems, adding that it maintained a negative outlook.
According to Ansa, European bourses lost some €137 billion amid fresh concern about Italy's economic future and the rest of Europe. Milan's index fell 3.17 per cent and heavy losses were also recorded in Paris (-3 per cent), London (-2.03 per cent) and Frankfurt (-2,83 per cent).
However, Börzen Zeitung says US stocks, which had initially declined on Greek-induced gloom, recovered some of their losses late in the trading day after a Greek Finance Ministry statement say there had been "a productive and substantive discussion" with official creditors in talks aimed at releasing a new aid installment. The statement came after Finance Minister Evangelos Venizelos had a conference call Monday evening with the International Monetary Fund, the European Commission and the European Central Bank. A Greek official said an announcement was likely on Wednesday.
Kathimerini has reported that Greek Prime Minister George Papandreou was considering a referendum on whether the country should exit the eurozone. A Greek government official, speaking to Dow Jones Newswires, denied the report and dismissed talk of such a referendum as "comical."
USA Today says President Obama on Monday demanded that the richest Americans pay higher taxes to help cut soaring US deficits by more than $3 trillion. He promised to veto any effort by congressional Republicans to cut Medicare benefits for the elderly without raising taxes as well. "This is not class warfare. It's math," Obama declared, anticipating Republican criticism, which was quick in coming.
Associated Press reports that Libyan Facing revolutionary fighters have captured the airport and other parts of the southern desert city of Sabha – one of the last remaining strongholds of Muammar Gadhafi's forces. A push to capture Gaddafi's hometown of Sirte and the mountain enclave of Bani Walid has stalled as well-armed forces loyal to the fugitive leader fought back fiercely with rockets and other heavy weaponry.
Meanwhile, Al Jazeera quotes Colonel Ahmed Bani, military spokesman of the NTC, saying in Tripoli that a "human tragedy" was unfolding in Bani Walid as he claimed Gaddafi's forces had stolen all supplies from the residents of the town and were shooting everyone who was showing support for the revolutionaries. “They show no mercy, not even for woman and children," Bani said, adding hat the Gaddafi forces were trying to destroy the city before it would be liberated.
Al-Thawra reports that thousands of protesters, backed by military defectors, have seized a base of the elite Republican Guards, weakening the control of Yemen's President Ali Abdullah Saleh. His forces fired on unarmed demonstrators elsewhere in the capital, killing scores, wounding hundreds and sparking international condemnation. More than 50 people have been killed in two days of confrontation between demonstrators and troops.
The New York Times says the Obama administration insisted Monday there was still time to avert a divisive showdown over Palestinian statehood, ignoring President Mahmoud Abbas' defiant pledge to take his government's case to the United Nations and reaching out to Western allies in the hopes of a last-ditch compromise. Secretary of State Hillary Rodham Clinton said the US was engaged in "extremely intensive" diplomacy with Israel, the Palestinians and other governments gathered in New York for the annual UN General Assembly meeting. Israeli Prime Minister Benjamin Netanyahu called for Abbas to meet with him in New York. The Israel leader said he wanted to resume peace talks.
The family of the murdered British schoolgirl Milly Dowler has been offered nearly £3 million by Rupert Murdoch's News International. The payout, which The Independent understands was to be divided between Milly's family and charities designated by them, comes after Mr Murdoch repeatedly apologised for the interception of her voicemails by his News of the World. The revelation sparked an unprecedented crisis in the Murdoch empire.
O Globo reports that a 14-year-old girl has told police she was held and raped for four days by inmates after being taken inside a men's prison in northern Brazil. The girl escaped early on Saturday and sought help from a jail guard, who took her to the police. The director of Heleno Fragoso prison and 19 other people working there between Friday night and Saturday morning have been fired.