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LONDON (Reuters) – World stock markets closed out the year on Wednesday with some having registered their worst annual losses in history, although December looked set to end on a rare up note and there was some optimism about 2009.

MANILA (AFP) – Philippine President Gloria Arroyo on Wednesday urged the country to pull together to weather ongoing economic quot;storms quot; from a global financial crisis that has likely stifled its growth.

MOSCOW (AFP) – Frenetic efforts to resolve another gas dispute between Russia and Ukraine went down to the wire Wednesday within hours of a threatened New Year’s Day cut-off that could disrupt deliveries to Europe.

HONG KONG (AFP) – Asia’s markets closed Wednesday to bring down the curtain on a miserable year that saw them lose half their worth in the wake of the global financial meltdown.

KUALA LUMPUR (AFP) – Malaysia is unlikely to slip into recession despite slowing exports, but the economy may require another round of stimulus measures, the central bank chief said in comments published Wednesday.

THE doors permanently close on 55 ABC Learning childcare centres today after the collapse of the nation’s largest childcare provider.

THE dollar was flat at noon in quiet trading, with end of year transactions rather than economic data directing currency movements.

THE share market opened higher, following gains in US stocks, regaining some of the losses of 2008 – the worst calendar year on record.

US securities regulators obtained an emergency court order to stop an alleged Ponzi scheme that collected more than $23 million from thousands of investors in Florida’s Haitian-American community, the Securities and Exchange Commission said overnight.

US SHARES revved higher overnight after a Government rescue announced for GMAC Financial Services and its former parent General Motors boosted hopes for a recovery in the troubled US auto sector.