US Stocks Rise

Posted June 9th, 2011 at 10:50 am (UTC-5)
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U.S. stock market indexes rose in Thursday's early trading. The Dow Jones Industrial Average and the S&P 500 rose six-tenths of a percent and the NASDAQ gained three-tenths of a percent.

European stock markets were higher in afternoon trading. London's Financial Times 100 index gained seven-tenths of a percent, the CAC-40 in Paris moved up 1.1 percent, and the DAX in Frankfurt jumped 1.5 percent.

Earlier in Asia, Tokyo's Nikkei index gained two-tenths of a percent to close at 9,467. Hong Kong's Hang Seng index lost two-tenths of a percent to finish the day's trading at 22,610.

The price of gold rose less than $1 to trade at $1,538.15 an ounce.

The dollar was higher against the yen and the euro.

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Posted in Economy

International Donors Pledge Millions to Libyan Rebels

Posted June 9th, 2011 at 10:45 am (UTC-5)
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Libyan rebels are seeking hundreds of millions of dollars from international envoys meeting in the United Arab Emirates to plan a national destiny without Libyan leader Moammar Gadhafi.

Italy — Libya's former colonial ruler — pledged nearly $600 million for Libyan rebels during the Thursday meeting. The aid would include loans and fuel products to the rebel region run by a council.

Kuwait has pledged to transfer $180 million to the rebel Transitional National Council while the Associated Press says the U.S. will increase humanitarian aid to Libyans by $26.5 million.

Earlier, the U.S. announced plans that include freeing up some of the $30 billion it froze in Libyan assets and giving that money to the opposition.

U.S. Secretary of State Hillary Clinton told the conference in Abu Dhabi that Mr. Gadhafi's “days are numbered.”

Delegates from the 22-nation Libya Contact Group, U.N., Arab League and Gulf Cooperation Council are discussing issues that include providing aid to the Libyan opposition and civilians.

It is the third meeting of the group.

Meanwhile, NATO airstrikes rattled the Libyan capital late Wednesday and Thursday.

The alliance carried out more strikes near Mr. Gadhafi's residence. A Libyan government spokesman said NATO dropped more than 60 bombs on Tripoli throughout the day on Wednesday, killing 31 people and injuring dozens.

As the strikes take place in the capital, Senegalese President Abdoulaye Wade is meeting with opposition leaders in the rebel stronghold, Benghazi. He told journalists on Thursday that the sooner Mr. Gadhafi leaves, the better.

Separately, a Libyan government spokesman denied accusations that Mr. Gadhafi's regime has committed human rights violations.

Diplomat Mustafa Shaban commented on Thursday, a day after the chief prosecutor of the International Criminal Court said investigators have evidence that Mr. Gadhafi ordered mass rapes of women considered disloyal to his regime.

Luis Moreno-Ocampo said his team is looking into whether the Libyan leader provided soldiers with Viagra-like medicines in order to promote the rape of women. He said he may present new charges of mass rape against Mr. Gadhafi.

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Posted in Middle East

World Powers Condemn Iran’s Nuclear Enrichment Expansion Plans

Posted June 9th, 2011 at 10:35 am (UTC-5)
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World powers meeting in Vienna to discuss global atomic issues have criticized Iran for proposed moves this week to accelerate its capability to produce nuclear fuel.

Britain, China, France, Germany, Russia and the United States expressed their concerns in a joint statement Thursday to a meeting of the International Atomic Energy Agency's 35-member board of governors.

The allies said IAEA chief Yukiya Amano sent a message to Iran's Atomic Energy Organization raising concerns about “possible military dimensions” of Iran's controversial nuclear program. Tehran says its nuclear ambitions are peaceful.

The U.S. ambassador to the IAEA, Glyn Davies, said Iran's move was “the most recent brazen example of (Iran's) deepening non-compliance” with international demands.

Iran is being sanctioned by the West for its controversial nuclear development,

Iran's nuclear chief said Wednesday that the country will move its production of higher enriched uranium to a new site, while also tripling its production capacity for nuclear fuel.

Iran revealed the existence of the new facility in 2009, triggering outrage from Western nations that suspect Iran is enriching uranium to make nuclear weapons.

On Tuesday, Iranian President Mahmoud Ahmadinejad rejected a report from the U.N.'s watchdog agency that said Tehran may have carried out nuclear work with possible military purposes.

Mr. Ahmadinejad said the report “lacks legal credibility” and that comments made by the chief of the International Atomic Energy Agency would have no bearing on Iran's nuclear activities.

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Posted in Middle East

Senegal’s President, in Libya, Urges Gadhafi to Quit

Posted June 9th, 2011 at 10:30 am (UTC-5)
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Senegal's president has called on embattled Libyan leader Moammar Gadhafi to step down, saying “the sooner you leave, the better.”

President Abdoulaye Wade spoke Thursday from the Libyan rebel stronghold of Benghazi, where he met with officials from the rebel leadership council.

Mr. Wade said Colonel Gadhafi should step aside in the interest of the Libyan people.

He added that he is someone who can help Mr. Gadhafi leave power, although he did not offer Senegal as a place of exile.

Senegal is one of several countries to have recognized the rebel Transitional National Council as the Libyan people's legitimate representative.

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Posted in Africa

US Trade Deficit Improves

Posted June 9th, 2011 at 10:25 am (UTC-5)
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The U.S. trade deficit improved in April, as exports hit a record while imports of oil and automobiles declined.

Thursday's report from the Commerce Department showed the gap between what Americans sell overseas and what they buy from foreigners narrowed 6.7 percent to a monthly total of $43.7 billion.

High prices cut U.S. demand for imported oil while Japan's multiple disasters cut automobile production in that nation, slowing the flow of cars to American customers.

At the same time, the declining value of the dollar meant that U.S.-made goods were less expensive for foreign consumers, which boosted American exports.

A separate report showed a slight increase in the number of people signing up for unemployment compensation last week. The Labor Department says first-time claims for unemployment aid rose 1,000 to a nationwide total of 427,000.

That is lower than the total at the worst of the economic crisis, but higher than the level seen in a healthy job market.

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Posted in Economy

Survey Ranks China Above Japan as US Partner

Posted June 9th, 2011 at 10:20 am (UTC-5)
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An annual survey of Americans shows China is now viewed as the most important U.S. partner in Asia, surpassing Japan for the first time in more than 35 years.

The U.S. survey, commissioned by the Japanese Ministry of Foreign Affairs, showed 39 percent of the American public chose China as the most important U.S. partner, while 31 percent selected Japan.

The Gallup poll also showed U.S. opinion leaders in government, education, religion and labor choosing Beijing over Tokyo as the most important U.S. partner by a 46 to 28 percent margin. The foreign ministry says economic and trade relations in large part drove the perceptions of the 1,200 ordinary Americans and opinion leaders who responded to the survey.

The same poll showed nearly 85 percent of the American public and 90 percent of its leaders viewing Japan as a “dependable ally or friend.” More than 90 percent of both groupings said the Japan-U.S. Security Treaty should be maintained because it contributes to stability and peace in Japan and the rest of the East Asia and Pacific region.

The treaty, signed in 1960, commits the United States to help defend Japan if that country comes under military attack. It also contains provisions for U.S. bases in Japan for U.S. armed forces in the Pacific.

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The survey also shows 97 percent of those polled see Japan as “a country with great traditions and culture,” while 91 percent see it as a country with a strong economy and high technology. Eighty-eight percent cited Japan for its creativity in animation, fashion and cuisine.

In a separate survey last week, 85 percent of Japanese respondents said they held a favorable view of the United States, compared with 66 percent a year ago. International political analysts attribute the approval jump to U.S. aid in the aftermath of the earthquake and tsunami that devastated northeastern Japan in March.

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Posted in East Asia Pacific

Pakistan Forces Accused of Killing Unarmed Man

Posted June 9th, 2011 at 10:20 am (UTC-5)
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Hundreds of people attended the funeral in Karachi on Thursday of a young man whose killing by Pakistani paramilitary forces was recorded and aired on local television.

Sarfaraz Shah was killed Wednesday in a park in the southern Pakistani port city.

A video of his death, which was posted on the video website YouTube, shows him pleading for his life before being shot in the hand and leg, at close range, by soldiers. It then shows Shah falling to the ground and begging for help, before bleeding to death.

Paramilitary officials say Shah was armed and was attempting to rob people at the park where his killing took place.

Shah's brother, a local crime reporter, says he was not a criminal and was wrongly accused.

Authorities are investigating the incident, which was condemned by human rights activists and members of Pakistan's parliament. Reports say at least two soldiers have been detained in connection with the shooting.

Last month, security forces shot and killed of five unarmed Chechens, including a pregnant woman, at a checkpoint near Quetta, the capital of the southwestern province of Baluchistan. Officials initially said they were suicide bombers.

Last week, Amnesty International urged Pakistan's government to take urgent steps to end killings and abductions in Baluchistan after a professor, Saba Dashtiyari, was shot and killed by gunmen in Quetta.

While no one has claimed responsibility for Dashtiyari's death, Amnesty said groups in Baluchistan have accused Pakistani security forces of carrying out the killing. The rights group says more than 150 political activists, journalists, lawyers and student have been killed in Baluchistan in the past year.

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Posted in South Asia

Fearful Syrians Continue Pressing into Turkey

Posted June 9th, 2011 at 10:05 am (UTC-5)
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The Turkish government said Thursday that the number of Syrians who have crossed into Turkey amid fears of government retaliation has risen to at least 1,600.

The refugees are looking to escape Syrian President Bashar al-Assad's weeks-long crackdown against anti-government protesters. Some say that black-clad gunmen have opened fire against protesters without warning.

The Syrian government accused 'armed gangs' in the border region of 'massacring' 120 security force members in recent days and vowed to take decisive action. There were media reports of Syrian forces moving to fortify positions in the north on Thursday.

The refugee flow comes amid behind-the-scenes diplomatic efforts in the United Nations to stem the violence.

Russia announced Thursday that it opposes a United Nations Security Council resolution condemning Syria for its crackdown on anti-government protesters.

Foreign Ministry spokesman Alexander Lukashevick says Syria's unrest does not pose a threat to world peace or security.

Lukashevick commented a day after European members of the Security Council presented a revised draft measure to the council.

The measure calls for an immediate end to the violence in Syria and humanitarian access to into Syria. It also urged Syria's government to enact genuine political reforms.

Separately, the U.N.'s top human rights official has accused Syria of trying to “bludgeon its population into submission” with its crackdown on anti-government protesters.

The U.N. High Commissioner for Human Rights, Navi Pillay, said Thursday that it is “utterly deplorable” for any government to deploy tanks, artillery and snipers against its people. She urged Syria to “halt this assault” against Syrians' “most fundamental human rights.”

Rights groups say at least 1,100 people have been killed in the Syrian crackdown against the anti-government campaign that began in March. More than 10,000 people have been arrested.

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Posted in Middle East

Libyan Rebels Seek Funds From International Donors

Posted June 9th, 2011 at 9:55 am (UTC-5)
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Libyan rebels are seeking hundreds of millions of dollars from international envoys meeting in the United Arab Emirates to plan a national destiny without Libyan leader Moammar Gadhafi.

Italy — Libya's former colonial ruler — pledged nearly $600 million for Libyan rebels during the Thursday meeting. The aid would include loans and fuel products to the rebel region run by a council.

The Associated Press reports that the Obama administration will increase humanitarian aid to Libyans by $26.5 million.

The United States earlier announced plans that include freeing up some of the $30 billion it froze in Libyan assets and giving that money to the opposition.

U.S. Secretary of State Hillary Clinton told the conference in Abu Dhabi that Mr. Gadhafi's “days are numbered.”

Delegates from the 22-nation Libya Contact Group, U.N., Arab League and Gulf Cooperation Council are discussing issues that include providing aid to the Libyan opposition and civilians.

It is the third meeting of the group.

Meanwhile, NATO airstrikes rattled the Libyan capital late Wednesday and Thursday.

The alliance carried out more strikes near Mr. Gadhafi's residence. A Libyan government spokesman said NATO dropped more than 60 bombs on Tripoli throughout the day on Wednesday, killing 31 people and injuring dozens.

Separately, a Libyan government spokesman denied accusations that Mr. Gadhafi's regime has committed human rights violations.

Diplomat Mustafa Shaban commented on Thursday, a day after the chief prosecutor of the International Criminal Court said investigators have evidence that Mr. Gadhafi ordered mass rapes of women considered disloyal to his regime.

Luis Moreno-Ocampo said his team is looking into whether the Libyan leader provided soldiers with Viagra-like medicines in order to promote the rape of women. He said he may present new charges of mass rape against Mr. Gadhafi.

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Posted in Middle East

Report: US Costs for Libya Soaring

Posted June 9th, 2011 at 9:30 am (UTC-5)
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A memo obtained by the Financial Times says the U.S. military effort in Libya is costing hundred of millions of dollars more than first estimated.

The Pentagon memo, which the newspaper says was given to some U.S. lawmakers, says the military is spending $2 million a day on air strikes, refueling operations and intelligence gathering missions. That adds up to a cost of $60 million a month.

Earlier estimates from the Defense Department said the U.S. was spending about $40 million a month on its Libyan operations.

The Financial Times says U.S. military operations in Libya could cost Washington almost $300 million more than the Pentagon anticipated.

The increased costs are a concern for the U.S. military because the money comes from its normal budget. Funding for the U.S. military efforts in Afghanistan and Iraq come from separate, supplemental budgets.

NATO has been leading the air campaign against the forces of Libyan leader Moammar Ghadhafi. Earlier this week, outgoing U.S. Defense Secretary Robert Gates urged five key military allies to assume a greater role in the effort.

Last month, Gates said the total cost for U.S. operations in Libya had reached $750 million.

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Posted in US

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