Posts tagged ‘Party Dress’

WASHINGTON (Reuters) – Senate Democrats are preparing a spending bill that yields no ground to House Republicans who are seeking deep cuts in government spending, a Democratic aide said on Wednesday.

The spending bill would essentially keep government spending at its current level through the end of the fiscal year on September 30 Party Dress, factoring in $4 billion in noncontroversial cuts that were included in a temporary spending measure passed earlier in the day.

(Reporting by Andy Sullivan; Editing by Sandra Maler)

Politics Small Business

VIENNA (Reuters) – Syria has promised to cooperate with a U.N. nuclear inquiry into a suspected reactor site bombed by Israel in 2007, an apparent last-minute bid by Damascus to derail a Western push to report it to the U.N. Security Council.

Western diplomats made clear they saw it as a tactical move ahead of a board meeting next week of the International Atomic Energy Agency, which was expected to condemn Syrian stonewalling of the IAEA probe into the desert site known as Dair Alzour.

They stressed that Syria’s offer, in a letter to IAEA chief Yukiya Amano, failed to specify whether it would now grant access to Dair Alzour and linked locations after repeatedly refusing such requests for nearly three years.

The United States has circulated a draft board resolution that would report the “non-compliance” of Syria — which is also facing Western sanctions over a crackdown on pro-democracy unrest in the country — to the U.N. Security Council.

But some said the Syrian initiative could make countries like Russia and China less willing to back the U.S.-led effort to pile pressure on the Arab state for failing to cooperate with the U.N. nuclear watchdog.

One European envoy said, “those countries which maybe were not so convinced about the idea to send it to the Security Council will now of course be even more hesitant.”

“It will make it more difficult, there is no question about that,” one senior diplomat from a developing country said about the Syrian initiative. “It is a very smart move.”

U.S. intelligence reports had said Dair Alzour was a nascent, North Korean-designed reactor intended to produce plutonium for atomic bombs before it was wrecked by Israel.

Damascus insisted Dair Alzour was a military, non-nuclear complex and had until now rebuffed IAEA demands for follow-up access to the site after a one-off inspection in 2008.

However, a May 24 report by the IAEA said the site was “very likely” to have been a reactor.

The United States and its European allies were set to seize on the report’s finding to lobby for a resolution by the agency’s 35-nation board Party Dress, meeting on June 6-10 in Vienna, to send the Syrian file to the Security Council in New York.

NO MORE STONEWALLING?

The IAEA board has the power to refer countries to the Security Council if they are judged to have violated global non-proliferation rules by engaging in covert nuclear work.

It reported Iran to the Security Council in 2006 over its failure to dispel suspicions that it was trying to develop nuclear weapons. Tehran has since been hit with four rounds of U.N. sanctions over its refusal to curb sensitive nuclear work.

Syria, an ally of Iran, denies harboring a nuclear weapons program and says the IAEA should focus on Israel instead because of its undeclared nuclear arsenal.

The United States signaled its determination to press ahead with its proposed resolution, despite the new Syrian offer.

“We are aware that the Syrian government has sent a letter to the IAEA regarding the agency’s long-standing requests for full Syrian cooperation,” Robert Wood, deputy head of the U.S. mission, wrote in a letter to other board members.

“Such cooperation indeed would be welcome, but would not have any bearing on the finding of non-compliance or the board’s responsibilities with regard to that finding.”

In February, Syria’s foreign minister wrote to Amano saying his country “would continue to work with the agency to resolve all outstanding technical issues.” But this was not followed by concrete action on Dair Alzour and failed to end the stalemate.

Syria’s latest letter, one Western diplomat said, only “pledges cooperation in an attempt to stave off a resolution and Security Council referral. Syria has stonewalled the IAEA for three years, and this is more of the same.”

(Editing by Elizabeth Fullerton)

Syria Israel

GENEVA (Reuters) – Austerity measures being adopted by many industrialized world governments in the wake of the 2008-09 financial crisis are undermining economic recovery, a United Nations report said on Wednesday.

Cuts in spending on health, education and other social programs in both rich and poor countries, it asserted, threaten to turn back decades of social progress, block new job creation and derail efforts to eradicate poverty.

“The growing pressure for austerity measures, ostensibly for reasons of fiscal consolidation, is putting at risk social protection, public health and education programs, as well as the economic recovery measures,” the report said.

If governments give in to these pressures, they could jeopardize the sustainability of the recovery, which was at best uncertain and fragile Party Dress, it declared.

“Continued support for stimulus and other recovery measures is needed to strengthen the momentum of output recovery and to protect the economic and social investments that underpin future growth.”

The study, “The Global Social Crisis-Report on the World Social Situation 2011,” was presented at the world body’s European headquarters in Geneva by its main author, Malaysian -born U.N. Assistant Secretary-General Jomo Kwame Sundaram.

CHINESE, ASIAN EFFORTS

Sundaram, a development economist who has taught at both Harvard and Yale universities in the United States, told a news conference that Asian countries, including China, had made strong efforts to sustain economic recovery programs.

Their exports to the West had helped drive the overall post-2009 recovery, he said. But if demand from richer countries tailed off as austerity slashed disposable incomes, Asian economies would also drop back.

The report made no specific reference to the current problems of European countries in the euro zone and outside it, which have been heightened by the political and social turmoil in debt-burdened Greece.

But its thrust was implicitly critical of European Union member countries and the U.N.’s International Monetary Fund (IMF), which are pressing Greece to push on with tough austerity measures as a condition for a bail-out loan.

Portugal, Ireland and Spain — all users of the euro — and Britain which stayed out of the common currency have all introduced austerity programs involving cuts in social services and are all facing varying degrees of social unrest.

The U.N. report said responses to the crisis had not addressed what had sparked it.

“For example, financial reform in major economies has not matched initial expectations and exposes the recovery to new abuses, excesses and vulnerabilities,” it asserted. “There are signs that this is already happening.

“Progress in addressing other structural causes of the crisis have also been limited….income inequalities continue to grow, global balancing is limited and global demand remains depressed.

“The failure to address the root causes of the crisis will impede a sustainable recovery,” the report said.

(Editing by Philippa Fletcher)

United Nations

ADEN (Reuters) – Central government forces in Yemen fought Islamist militants on Sunday after the militants seized control of parts of a south Yemen town, residents said.

The militants forced the army to retreat from a hill overlooking the town of Jaar, taking over a state broadcast building and a rest house used by President Ali Abdullah Saleh on visits to the region.

The militants seized two tanks and one soldier was killed, the sources said.

The army shelled key government buildings that a coalition of different Islamist groups had taken control of on Saturday.

Residents said there was no visible presence of government security forces in the town of several hundred thousand people Party Dress, which appeared to be in militant hands.

The government often reports attacks by al Qaeda militants in Abyan province.

Six soldiers were killed on Saturday in an ambush by Al Qaeda militants in the town of Lawdar, also in Abyan.

Saleh has faced weeks of protests demanding he step down. Western countries and neighboring Saudi Arabia are concerned that Yemen-based al Qaeda in the Arabian Peninsula could take advantage of any power vacuum if he goes.

Saleh has been seen as a bulwark against al Qaeda in the impoverished Arabian Peninsula state, where central government control is weak and relies upon tribal allies.

(Reporting by Mohammed Mukhashaf; Writing by Andrew Hammond; Editing by Andrew Roche)

World Yemen

RABAT (Reuters) – A group of tribes in Libya’s Oases region have joined the revolt against leader Muammar Gaddafi and will defend the oil wells near the area, Quryna newspaper’s online edition reported Saturday.

A leader of one of those tribes last week threatened to cut off oil exports to Western countries if Libyan authorities continued to violently crush anti-Gaddafi protests.

Quryna said it had received a statement from three tribes in the Oases region (Wahat), south of Benghazi — the flashpoint for the uprising — that also urged the army and police officers from the region to join the “people’s revolt.”

It named the tribes as al-Zuwayya from Jikharra oasis, El-Mjabra from Jalu’s oasis and al-Awajila from Awjila oasis.

“We hereby announce … that we have joined the victorious revolution from its first day and we confirm that the Oases region as a whole backs the February 17 revolution against the rule of Muammar Gaddafi,” Quryna quoted the tribes as saying in the statement.

“The region’s youths stand defiant to defend and protect the oil wells that surround the region,” it added.

Shaikh Faraj al Zuway, a leader of the Al-Zuwayya tribe threatened Sunday to cut oil exports to Western countries within 24 hours unless authorities stop what he called the “oppression of protesters.”

(Reporting by Souhail Karam Party Dress, Editing by Jon Boyle)

World Libya

NEW YORK (Reuters) – Mexican tycoon Carlos Slim is the richest person in the world for the second year in a row, Forbes said on Wednesday.

Rising steel and oil prices in Russia, more honest disclosure in Brazil and booming economies in China and India has fueled a spike in billionaires in the so-called BRIC countries, Forbes list of the World’s Billionaires found.

Here are some statistics from the Forbes 2011 ranking of the world’s billionaires:

* There are 1,210 billionaires in the world in 2011, up from 1,011 last year. Of those, 102 are women, up from 89 in 2010.

* There are 648 billionaires who increased their wealth in the past year. The fortunes of 160 fell, while 146 stayed even.

* There are 413 billionaires in the United States with a net worth of $1.5 trillion. This is up from 403 in 2010 and a value of $1.3 trillion.

* There are 300 billionaires in Europe with a net worth of $1.3 trillion, up from 248 billionaires last year with a fortune of $1 trillion.

* In the Asia-Pacific region there are 332 billionaires worth $996 billion, compared with 234 billionaires in 2010 valued at $729 billion.

* The Middle East and Africa have 89 billionaires with a fortune of $251 billion, up from 65 last year worth $181 billion.

* In the Americas (excluding the United States) there are 76 billionaires with a net worth of $419 billion, compared with 61 billionaires last year valued at $304 billion.

* There are 214 billionaires making their debut on the Forbes list. Brazil Party Dress, Russia, India and China accounted for 108 of those newcomers.

* Forty-seven people have dropped off the list from last year, another 10 died, and 42 returned to the billionaire ranking.

* Billionaires in the United States are the oldest with an average age of 66, followed by the Americas (65) and the Middle East and Africa (60). The average age is 59 in the Europe and Asia Pacific regions.

* Dustin Moskovitz of Facebook fame is the youngest billionaire in the world at 26, with a fortune of $2.7 billion

* The oldest billionaire is Swiss tech billionaire Walter Haefner, who is 100 and worth $4 billion.

The full Forbes ranking of the world’s billionaires can be seen at www.forbes.com/billionaires

(Reporting by Michelle Nichols; Editing by Gary Hill)

U.S. World People Money Mexico

BEIJING (Reuters) – China’s central bank cut the reserve requirement ratio for its banks on Wednesday by 50 basis points for the first time in nearly three years to ease credit strains and shore up activity in the world’s second-largest economy.

LIU JUNYU, BOND AND MONEY MARKET ANALYST AT CHINA MERCHANTS BANK IN SHENZHEN:

“The RRR cut is mainly due to the negative growth of China’s foreign exchange purchase positions, which means the PBOC is unable to expand its monetary base by injecting money by purchasing foreign exchange.

“Now that the PBOC has started making RRR cuts, the market will expect it to keep doing so in the future. So the market will become quite optimistic about an easing of monetary policy, although an interest rate cut is not expected to occur until at least the first quarter.

“Bond yields will fall amid the optimism, although money market rates will drop more slowly since those rates are affected by money supply, which needs time to pick up despite the RRR cut.”

ZHIWEI ZHANG, CHINA ECONOMIST AT NOMURA IN HONG KONG:

“I think the move is partially driven by capital outflows in November. Also, it may indicate that the economy has weakened quite bit and that the official PMI reading does not look very good.”

SHI CHENYU, ECONOMIST WITH THE INVESTMENT BANKING UNIT OF INDUSTRIAL AND COMMERCIAL BANK OF CHINA:

“It’s a surprising move — the market was not expecting the central bank to (cut RRR) so fast.

“The move sends a clear message that the central bank is ready to relax its policy stance. The rare capital outflow in October may become a frequent thing next year, and the decision-makers have to adjust to these changes.”

HUA ZHONGWEI Party Dress, ANALYST WITH HUACHUANG SECURITIES IN BEIJING:

“It’s the start of a relaxation cycle, and the central bank is expected to take more steps.

“The economic slowdown is there, and capital inflows are set to fall further, and many banks are finding liquidity shortages.

“However, I still don’t think China will cut benchmark interest rates in the coming months because that would mark a fundamental change rather than a fine-tuning.”

(Reporting by China newsroom; Editing by Don Durfee)

China

Breaking News! In a shocking incident Party Dress, AIADMK minister N Mariam Pitchai was killed in a road accident near Tiruchi on Monday morning. He was rushing to Chennai to attend the swearing-in ceremony scheduled for today’s afternoon.

 

The 60-year-old Pitchai was first time allotted to environment portfolio in the 14th legislative assembly led by Jayalalithaa. The accident occurred near Padalur in Perambalur district on the Tiruchi-Chennai National Highway.

Police said that the minister’s car rammed into a truck. Pitchai was killed on the spot and his driver was injured. Sports minister N R Sivapathy was the witness to the tragedy as he was coming in a car after Pitchai.

Pitchai was survived by a daughter and three sons. He was the former urban district secretary of AIADMK and a corporation councilor.