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The sexual assault case against Dominique Strauss-Kahn, who hoped to be the next French president, collapsed because what prosecutors believed was strong testimony deteriorated into a fabric of lies.

The rape charges against Dominique Strauss-Kahn will be officially dropped on Tuesday at a Manhattan court hearing scheduled for 11:30 a.m.

New York prosecutors asked a judge to dismiss sexual assault charges against former IMF chief Dominique Strauss-Kahn on Monday, a stunning reversal that could revive the political future of a man many had seen as the next president of France.

The sexual-assault charges against the former IMF head have been dropped, prosecutors say.

A timeline of the sexual assault case against Dominique Strauss-Kahn.

Prosecutors on Monday appeared set to drop sexual assault charges against former IMF director Dominique Strauss-Kahn, a stunning reversal in the case against a man who many had seen as the next president of France.

Here is a brief rundown of important events around the world Monday morning, August 22, 2011.

Prosecutors, of the sexual assault case against former IMF chief Dominique Strauss-Kahn, are likely to drop the charges because of lack of evidence on the part of the accuser and alleged backing of political link ups

Manhattan prosecutors are likely to ask a judge on Tuesday to drop all or some charges in the sexual assault case against Dominique Strauss-Kahn.

Lawyers for the woman who accused former IMF chief Dominique Strauss-Kahn of sexual assault have explored a deal in which they would scuttle the criminal case in exchange for a monetary settlement in the civil lawsuit, the Wall Street Journal reported on Friday.

Opposing lawyers disputed the meaning of a medical report that said "rape" caused injuries sustained by the woman who has accused former IMF chief Dominique Strauss-Kahn of sexual assault.

Advanced economies still have options to provide short-term support for jobs and growth even as they focus on medium-term fiscal consolidation, International Monetary Fund chief Christine Lagarde said.

Investor confidence in the United Arab Emirates, the once-high flying Gulf country that crashed during the debt crisis, is at its highest level in 12 months.

The Republic of Congo's non-crude revenues rose 25 percent to 500 billion CFA Francs in the first-half of the year, Congo's president Denis Sassou N'Guesso said on Friday, adding the economy needed to ease its reliance on an oil industry poised for decline.

Portugal still faces some tough challenges but is on track to meet this year's budget deficit goal despite a shortfall in performance so far, officials from the European Union and IMF said on Friday.

A 10-year-old girl, who goes by the handle of CyFi, found that the gaming prowess of many a smartphone can be undermined by some serious security holes.

A judge Monday refused to release former Ukrainian Prime Minister Yulia Tymoshenko from police detention, increasing political tension around her trial on a charge of abuse of office.

A weekend contest at the world's largest hacking convention in Las Vegas showed one reason why big corporations seem to be such easy prey for cyber criminals: their workers are poorly trained in security.

Some of the most explosive teenage talent in the world is engrossed in the dark art of illegal hacking and waging cyber wars on governments and corporations. And then there are those young children who master the art of legal hacking in schools run by former hacking wizards.

A weekend contest at the world's largest hacking convention in Las Vegas showed one reason why big corporations seem to be such easy prey for cyber criminals: their workers are poorly trained in security.

Why so big companies fall prey to cyberattacks so easily? According to hackers taking part in Defcon conference -- the world's largest hacking convention in Las Vegas -- workers at big corporations are poorly trained in security, which makes it easy for hackers to trick them into revealing key information.

A weekend contest at the world's largest hacking convention in Las Vegas showed one reason why big corporations seem to be such easy prey for cyber criminals: their workers are poorly trained in security.

China was quick to jump on Standard and Poor's (S&P) historic downgrade of U.S. debt.

The development comes only one month after she took over as IMF boss, succeeding Dominique Strauss-Kahn, who was forced to resign in wake of his sexual assault trial in New York City.

South Africa has agreed to a 2.5 billion rand bailout for Swaziland to help it through a budget crunch that had prompted unprecedented protests against Africa's last absolute monarch, officials said on Wednesday.

Reportedly, the king?s application for a loan from the International Monetary Fund (IMF), among other financial institutions, was summarily rejected.

Pakistan's quick response to charges by China that militants involved in attacks in Xinjiang had trained on its soil shows the importance of its ties with Beijing, but it could be a mistake for Islamabad if it relies too much on China.

China's naval forces are likely to step up their activities in waters around Japan, Tokyo's annual defence report said on Tuesday, the latest expression of regional security concerns about China's military buildup.

Japan expects China to further expand its maritime activities in the South China Sea and the Pacific, its annual defence report said on Tuesday, the latest expression of regional security concerns about China's military buildup.