October 12, 2008 (Sunday)
Business and economy
- The Prime Minister of Australia Kevin Rudd announces that the Government of Australia will guarantee all deposits in all Australian banks for three years as a result of the subprime mortgage crisis. (ABC News Australia)
- New Zealand and the United Arab Emirates will also guarantee all bank deposits in their banks. (RTÉ News)
Religion
- Alphonsa Muttathupadathu, a nun from Kerala, becomes India's first female saint in the Roman Catholic Church. (BBC), (VoA)