Asian markets mixed after global rate cuts
SHANGHAI (AP): Asian markets were mixed Thursday as investor enthusiasm over rate cuts around the world gave way to persisent fears over the severe strains in credit markets and the prospect of a global recession.
South Korea, Hong Kong and Taiwan lowered their interest rates, joining a series of cuts Wednesday in the U.S., Europe and China aimed at stabilizing global markets that have plunged sharply this week.
But lower interest rates alone are unlikely to cure the crisis in confidence, analysts said.
Thursday, October 9, 2008
US-Iraq security pact faces hurdles
BAGHDAD (AP): A U.S.-Iraqi security agreement spelling out how American troops and contractors operate was supposed to be in place over the summer, but the thorniest issues remain unsettled and neither side is budging.
Time is running out. The deal must be finished and ratified by Iraq's parliament before Dec. 31, when the U.N. mandate authorizing the U.S. military mission expires. Otherwise, there will be no legal basis for the U.S. presence in Iraq.
For U.S. President George W. Bush, some of the pressure to get a fast deal has faded since Iraq is no longer a dominant issue in the presidential campaign.
For the Iraqi leadership, however, political crosscurrents have grown more complicated because of upcoming provincial elections and strong Iranian opposition to any security agreement.
BAGHDAD (AP): A U.S.-Iraqi security agreement spelling out how American troops and contractors operate was supposed to be in place over the summer, but the thorniest issues remain unsettled and neither side is budging.
Time is running out. The deal must be finished and ratified by Iraq's parliament before Dec. 31, when the U.N. mandate authorizing the U.S. military mission expires. Otherwise, there will be no legal basis for the U.S. presence in Iraq.
For U.S. President George W. Bush, some of the pressure to get a fast deal has faded since Iraq is no longer a dominant issue in the presidential campaign.
For the Iraqi leadership, however, political crosscurrents have grown more complicated because of upcoming provincial elections and strong Iranian opposition to any security agreement.
'Financial crisis should not impede women welfare projects'
New York (PTI): UN Secretary-General Ban Ki-moon has called on the nations to ensure that the current financial crisis do not impede funding of women welfare programmes.
"The global financial crisis is forcing all of us to save and cut costs where we can. But our work for the women of the world must continue undiminished," Ban emphasised at the presentation of the 2008 International Award for the Health and Dignity of Women by Americans for UNFPA.
The recipients of this year's award, which honours exemplary contributions to women's health and the promotion of women's rights, were four American women from the corporate sector and activists from Madagascar, Mexico and Nepal.
New York (PTI): UN Secretary-General Ban Ki-moon has called on the nations to ensure that the current financial crisis do not impede funding of women welfare programmes.
"The global financial crisis is forcing all of us to save and cut costs where we can. But our work for the women of the world must continue undiminished," Ban emphasised at the presentation of the 2008 International Award for the Health and Dignity of Women by Americans for UNFPA.
The recipients of this year's award, which honours exemplary contributions to women's health and the promotion of women's rights, were four American women from the corporate sector and activists from Madagascar, Mexico and Nepal.
Russia completes Georgia pullout ahead of schedule
Moscow (PTI): Russia had completed the withdrawal of its troops from the buffer zones inside Georgia, two days ahead of the scheduled October 10 deadline, set in the EU brokered peace deal.
"The last convoy of arms and military equipment crossed the border at 2200 IST. The convoy was escorted by Organisation for Security and Co-operation in Europe (OSCE) representatives," Commander of Russian peacekeeping contingent Maj-Gen Marat Kulakhmetov said yesterday in his televised statement.
Moscow (PTI): Russia had completed the withdrawal of its troops from the buffer zones inside Georgia, two days ahead of the scheduled October 10 deadline, set in the EU brokered peace deal.
"The last convoy of arms and military equipment crossed the border at 2200 IST. The convoy was escorted by Organisation for Security and Co-operation in Europe (OSCE) representatives," Commander of Russian peacekeeping contingent Maj-Gen Marat Kulakhmetov said yesterday in his televised statement.
Pak forces launch fresh offensive against Taliban
Islamabad (PTI): Pakistani combat jets and helicopter gunships on Thursday destroyed a major Taliban militant base in the country's restive Swat valley in NWFP inflicting heavy casualties and intensifying pressure on the Islamic radicals.
The fighter aircraft targeted a militant stronghold in the Peochar, a village in the Swat valley which security officials claiming inflicting heavy casualties, but a count was not immediately available.
Five civilians were also reported killed as a shell fired by security forces landed on their home. Witnesses and Taliban spokesman Muslim Khan said the bombs dropped by the jets had caused casualties, but there was no information on the number of deaths. Khan said the bombing had also destroyed houses.
Army officials said the fresh offensive is aimed at destroying militant bases in their strongholds in Matta area of Swat. Local residents said the jets bombed militant positions in Peochar, Shawar and Landai Sar, which are considered strong bases of the Taliban.
Islamabad (PTI): Pakistani combat jets and helicopter gunships on Thursday destroyed a major Taliban militant base in the country's restive Swat valley in NWFP inflicting heavy casualties and intensifying pressure on the Islamic radicals.
The fighter aircraft targeted a militant stronghold in the Peochar, a village in the Swat valley which security officials claiming inflicting heavy casualties, but a count was not immediately available.
Five civilians were also reported killed as a shell fired by security forces landed on their home. Witnesses and Taliban spokesman Muslim Khan said the bombs dropped by the jets had caused casualties, but there was no information on the number of deaths. Khan said the bombing had also destroyed houses.
Army officials said the fresh offensive is aimed at destroying militant bases in their strongholds in Matta area of Swat. Local residents said the jets bombed militant positions in Peochar, Shawar and Landai Sar, which are considered strong bases of the Taliban.
'Myanmar human rights situation challenging'
United Nations (PTI): Terming the human rights situation in Myanmar as challenging, a UN envoy has called upon the military junta to conduct the 2010 general elections in a "credible" manner.
"Respect for international human rights standards is indispensable in paving the road to democracy," Special Rapporteur on the situation of human rights in Myanmar, Toms Ojea Quintana wrote in a report released on Wednesday.
"The next step in the road map for national reconciliation and democratic transition is the election in 2010," the UN human rights envoy to the country said.
"Myanmar is going through a unique moment in its political history," he said, noting that the country's new Constitution was finalised in February and adopted through a referendum in May.
He stressed that if those general elections are prepared and conducted in an atmosphere in which human rights were fully respected, "the process will be credible, resulting in progressive achievement of democratic values."
United Nations (PTI): Terming the human rights situation in Myanmar as challenging, a UN envoy has called upon the military junta to conduct the 2010 general elections in a "credible" manner.
"Respect for international human rights standards is indispensable in paving the road to democracy," Special Rapporteur on the situation of human rights in Myanmar, Toms Ojea Quintana wrote in a report released on Wednesday.
"The next step in the road map for national reconciliation and democratic transition is the election in 2010," the UN human rights envoy to the country said.
"Myanmar is going through a unique moment in its political history," he said, noting that the country's new Constitution was finalised in February and adopted through a referendum in May.
He stressed that if those general elections are prepared and conducted in an atmosphere in which human rights were fully respected, "the process will be credible, resulting in progressive achievement of democratic values."
Somchai “flees” Parliament amid protests
SINGAPORE: Anti-government protesters were tear-gassed in Bangkok on Tuesday, even as Prime Minister Somchai Wongsawat “escaped” from Parliament and his Deputy Chavalit Yongchaiyudh resigned. The military-linked Mr. Chavalit, in charge of security affairs, cited his responsibility for the turn of events.
Over 100 persons, mostly protesters and a few security officials, were reported injured. An anti-government activist was killed, apparently in a “vehicle blast,” according to opposition sources.
Trouble broke out after the protagonists of the People’s Alliance for Democracy (PAD), an anti-government umbrella group, sought to blockade Parliament, where Mr. Somchai was making a policy speech.
SINGAPORE: Anti-government protesters were tear-gassed in Bangkok on Tuesday, even as Prime Minister Somchai Wongsawat “escaped” from Parliament and his Deputy Chavalit Yongchaiyudh resigned. The military-linked Mr. Chavalit, in charge of security affairs, cited his responsibility for the turn of events.
Over 100 persons, mostly protesters and a few security officials, were reported injured. An anti-government activist was killed, apparently in a “vehicle blast,” according to opposition sources.
Trouble broke out after the protagonists of the People’s Alliance for Democracy (PAD), an anti-government umbrella group, sought to blockade Parliament, where Mr. Somchai was making a policy speech.
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