The opposition coalition Joint Meeting Parties (JMP) said on Friday that they are "unilaterally preparing for forming a transitional ruling council after the ruling party along with acting President Abd-Rabbu Mansour Hadi refused to join them," an opposition official told Xinhua.
"The JMP is due to hold meeting on Saturday to discuss the mechanism for forming the transitional ruling council, which would include representatives from the protesters, separatist Southern Movement and Houthi-led Shiite rebels," the official said on condition of anonymity.
Opposition leaders believed that Saleh would be unable to run the country if he returns due to his "severe injuries."
Meanwhile, tens of thousands of pro- and anti-government protesters staged rallies in major provinces across Yemen on Friday.
In Sanaa, the protesters demanding the ouster of Saleh and the departure of his sons and aides gathered in Changing Square, calling for forming a transitional presidential council to rule the country during post-Saleh era, according to witnesses.
Thousands of pro-Saleh protesters also staged a rally in al- Sabeen Square close to the presidential palace. They named the day as "Steadfast Friday", raising pictures of Saleh and shouting slogans to welcome the "soon return" of Saleh from Riyadh.
The 69-year-old president, who ruled the impoverished Arab state for more than three decades, has confronted six-month protests demanding him to step down.
The neighboring Saudi Arabia along with United States fear that Yemen's the prolonged political standoff, which has already severely undermined the security and economic situations, could benefit resurgent al-Qaida in the Arabian Peninsula (AQAP) to expand its activities and gain more control over remote cities.
Editor: Mu Xuequan
English.news.cn 2011-07-02 04:29:22 FeedbackPrintRSS
SANAA, July 1 (Xinhua)
Thursday, July 7, 2011
Warplanes hit al-Qaida targets in south Yemen's Abyan: official
Yemeni government warplanes pounded several al-Qaida targets in the southern province of Abyan on Friday evening, local army officers told Xinhua.
The army air forces carried out several strikes against al- Qaida hideouts in the Zinjibar city, the officer said, who asked to remain anonymous.
No information about casualties was available till now, the officer added.
Another army officer said that the naval forces in the province of Aden were also involved in the battle against al-Qaida.
A tribal chief said that the Abyan leading tribes were holding discussions to mediate a cease-fire between al-Qaida militants and army troops amid ongoing fierce battles.
The worsening internal conditions in Yemen created a haven for al-Qaida to plot, plan and mount attacks on military brigades and government buildings in Yemen's southern and eastern provinces.
Editor: Mu Xuequan
English.news.cn 2011-07-02 04:27:25 FeedbackPrintRSS
ADEN, Yemen, July 1 (Xinhua)
The army air forces carried out several strikes against al- Qaida hideouts in the Zinjibar city, the officer said, who asked to remain anonymous.
No information about casualties was available till now, the officer added.
Another army officer said that the naval forces in the province of Aden were also involved in the battle against al-Qaida.
A tribal chief said that the Abyan leading tribes were holding discussions to mediate a cease-fire between al-Qaida militants and army troops amid ongoing fierce battles.
The worsening internal conditions in Yemen created a haven for al-Qaida to plot, plan and mount attacks on military brigades and government buildings in Yemen's southern and eastern provinces.
Editor: Mu Xuequan
English.news.cn 2011-07-02 04:27:25 FeedbackPrintRSS
ADEN, Yemen, July 1 (Xinhua)
Armed groups kill four protestors across Syria: state TV
Hundreds of anti-government protestors on Friday poured into the streets across Syria, calling for freedom and reform, while armed groups shot indiscriminately at the demonstrators, killing at least four people, including an officer, the state TV reported.
Armed men cut off a road and opened fire in al Qadam neighborhood near Damascus, killing one civilian and wounding dozens, the TV said, adding that another armed men opened fire on civilians and police forces in the central province of Homs, killing one civilian and an officer.
The TV, however, did not mention where the fourth person was killed.
In a related development, the state television said that hundreds of pro-government demonstrators on Friday hit the streets in the northern province of Halab, in support of Syrian President Bashar al-Assad, denying what was broadcasted on satellite TV stations about anti-government protests in Halab.
However, the Doha-based Al-Jazeera TV quoted activists as reporting that at least nine people were killed nationwide, as thousands of anti-government protestors streamed into the streets Friday after Muslims' noon prayers in several towns and cities across Syria, including Halab, Homs, Hama, Daraa, Der al-Zour, and other cities, calling for freedom and the downfall of the regime.
Syrian government said 1,200 members of security forces and army personnel have died since the eruption of protests in mid March, including 120 in north Syria, meanwhile, according to activists, more than 1,400 civilians have died and some 10,000 have been detained during the government's alleged crackdown on protests.
The unrest in Syria has sparked international condemnation for the alleged bloody crackdown on protestors by Syrian security forces. U.S. Secretary of State Hillary Clinton said earlier she was "disheartened" by reports of continued crackdown on protesters in Syria and warned the Syrian government is running out of time.
Syria has been in unrest since mid March when anti-government protests broke out in the southern province of Daraa and spread to other Syrian cities. Syria blamed the unrest on "armed groups and foreign conspiracy" and stressed that it would track down gunmen who have intimidated people and damaged public and private properties.
The government said that hundreds of security agents and policemen were killed by gunmen since the eruption of protests in the country in mid March. Syrian oppositions, however, accused the Syrian security forces of harshly cracking down the protests.
Editor: Mu Xuequan
English.news.cn 2011-07-02 02:46:34 FeedbackPrintRSS
DAMASCUS, July 1 (Xinhua)
Armed men cut off a road and opened fire in al Qadam neighborhood near Damascus, killing one civilian and wounding dozens, the TV said, adding that another armed men opened fire on civilians and police forces in the central province of Homs, killing one civilian and an officer.
The TV, however, did not mention where the fourth person was killed.
In a related development, the state television said that hundreds of pro-government demonstrators on Friday hit the streets in the northern province of Halab, in support of Syrian President Bashar al-Assad, denying what was broadcasted on satellite TV stations about anti-government protests in Halab.
However, the Doha-based Al-Jazeera TV quoted activists as reporting that at least nine people were killed nationwide, as thousands of anti-government protestors streamed into the streets Friday after Muslims' noon prayers in several towns and cities across Syria, including Halab, Homs, Hama, Daraa, Der al-Zour, and other cities, calling for freedom and the downfall of the regime.
Syrian government said 1,200 members of security forces and army personnel have died since the eruption of protests in mid March, including 120 in north Syria, meanwhile, according to activists, more than 1,400 civilians have died and some 10,000 have been detained during the government's alleged crackdown on protests.
The unrest in Syria has sparked international condemnation for the alleged bloody crackdown on protestors by Syrian security forces. U.S. Secretary of State Hillary Clinton said earlier she was "disheartened" by reports of continued crackdown on protesters in Syria and warned the Syrian government is running out of time.
Syria has been in unrest since mid March when anti-government protests broke out in the southern province of Daraa and spread to other Syrian cities. Syria blamed the unrest on "armed groups and foreign conspiracy" and stressed that it would track down gunmen who have intimidated people and damaged public and private properties.
The government said that hundreds of security agents and policemen were killed by gunmen since the eruption of protests in the country in mid March. Syrian oppositions, however, accused the Syrian security forces of harshly cracking down the protests.
Editor: Mu Xuequan
English.news.cn 2011-07-02 02:46:34 FeedbackPrintRSS
DAMASCUS, July 1 (Xinhua)
Russia, France divided on Syria issue during Moscow talks
Foreign Minister Sergei Lavrov and his visiting French counterpart Alain Juppe on Friday discussed the Syria issue but did not reach any consensus.
After the talks, Juppe told a joint press conference that the situation in Syria was a threat to the regional stability and that the U.N. Security Council should pass a resolution on the issue. However, Lavrov reiterated that Moscow would not support the Security Council in passing such a measure.
"The U.N. Security Council cannot remain silent on the situation in Syria. It must demand the immediate stop of hostilities and the launch of effective reforms (in the country)," Juppe said.
In turn, Lavrov reiterated that there has been no need to adopt a Security Council resolution on Syria.
"Our president has spoken about this on many occasions. This position remains in force," Lavrov said. He also said that Moscow was still ready to find common ground with "our partners and with the international community" on Syria.
Meanwhile, Lavrov expressed support for the Syria president and said the refusal by the Syrian opposition to hold a dialogue with the country's leaders is "unacceptable."
"If the opposition is truly interested in reforms in the Syrian society and state, then it is simply unacceptable to skate out of such proposals (of holding dialogue)," Lavrov said.
Since mid-March, Syria has witnessed massive protests across the country. Germany and France have said they would continue efforts to push a Security Council resolution on Syria. Russia, meanwhile, has said it may veto the resolution.
Editor: Yang Lina
English.news.cn 2011-07-01 20:37:45 FeedbackPrintRSS
MOSCOW, July 1 (Xinhua)
After the talks, Juppe told a joint press conference that the situation in Syria was a threat to the regional stability and that the U.N. Security Council should pass a resolution on the issue. However, Lavrov reiterated that Moscow would not support the Security Council in passing such a measure.
"The U.N. Security Council cannot remain silent on the situation in Syria. It must demand the immediate stop of hostilities and the launch of effective reforms (in the country)," Juppe said.
In turn, Lavrov reiterated that there has been no need to adopt a Security Council resolution on Syria.
"Our president has spoken about this on many occasions. This position remains in force," Lavrov said. He also said that Moscow was still ready to find common ground with "our partners and with the international community" on Syria.
Meanwhile, Lavrov expressed support for the Syria president and said the refusal by the Syrian opposition to hold a dialogue with the country's leaders is "unacceptable."
"If the opposition is truly interested in reforms in the Syrian society and state, then it is simply unacceptable to skate out of such proposals (of holding dialogue)," Lavrov said.
Since mid-March, Syria has witnessed massive protests across the country. Germany and France have said they would continue efforts to push a Security Council resolution on Syria. Russia, meanwhile, has said it may veto the resolution.
Editor: Yang Lina
English.news.cn 2011-07-01 20:37:45 FeedbackPrintRSS
MOSCOW, July 1 (Xinhua)
Indian textile minister resigns over alleged corruption
Indian Minister of Textiles Dayanidhi Maran resigned Thursday following allegation that he arm-twisted Aircel owner C. Sivasankarn to sell his 74 percent stake to Maxis group of Malaysia, local media reported Friday.
Maran met Prime Minister Manmohan Singh after a routine Cabinet meeting and submitted his resignation.
The meeting between Maran and Singh at the Prime Minister's 7 Race Course Road residence in New Delhi, which was the second one Thursday, lasted for five minutes after which he resigned.
He also met Congress party president Sonia Gandhi.
Singh and Sonia Gandhi spoke to Tamil Nadu-based Dravida Munnetra Kazhagam (DMK) chief M. Karunanidhi Wednesday night about Maran. Karunanidhi reportedly gave the go-ahead before Maran resigned Thursday.
The Prime Minister also discussed Maran's alleged role in the Aircel-Maxis deal with Finance Minister Pranab Mukherjee, Home Minister P. Chidambaram, Law Minister M Veerappa Moily, Telecom Minister Kapil Sibal and Attorney General Goolam E. Vahanvati separately.
Maran is the second minister and DMK leader to step down from the Cabinet after former telecom minister A. Raja for involvement in the 2G spectrum scam.
India's premier probe agency, the Central Bureau of Investigation (CBI), indicted him for coercing a telecom firm in selling its stake to a Malaysia-based group in which Maran's brother is a stakeholder.
Maran was the country's Telecom Minister at the time when he allegedly arm-twisted Aircel owner C. Sivasankarn to sell his 74 percent stake to Maxis group of Malaysia, where a large Tamil community lives.
Maran's resignation came a day after the CBI told the country' s Supreme Court, which is monitoring the telecom scam, that its preliminary inquiry into the allegation of Sivasankaran suggested that Maran starved Aircel of new licenses to bully him into selling out.
Maran belongs to the ruling United Progressive Alliance's southern state of Tamil Nadu-based ally DMK.
India's main opposition Bharatiya Janata Party spokesperson Rajiv Pratap Rudy said: "Maran's resignation has come very late. He should have morally resigned much before, especially after his role in the 2G scam surfaced."
The country's former Telecom Minister, A. Raja, who had last year resigned over the 40 billion U.S. dollars telecom scam, is currently in jail for allegedly selling spectrum at an undervalued rate to various telecom firms.
Editor: Zhang Xiang
English.news.cn 2011-07-08 09:52:52 FeedbackPrintRSS
NEW DELHI, July 8 (Xinhua)
Maran met Prime Minister Manmohan Singh after a routine Cabinet meeting and submitted his resignation.
The meeting between Maran and Singh at the Prime Minister's 7 Race Course Road residence in New Delhi, which was the second one Thursday, lasted for five minutes after which he resigned.
He also met Congress party president Sonia Gandhi.
Singh and Sonia Gandhi spoke to Tamil Nadu-based Dravida Munnetra Kazhagam (DMK) chief M. Karunanidhi Wednesday night about Maran. Karunanidhi reportedly gave the go-ahead before Maran resigned Thursday.
The Prime Minister also discussed Maran's alleged role in the Aircel-Maxis deal with Finance Minister Pranab Mukherjee, Home Minister P. Chidambaram, Law Minister M Veerappa Moily, Telecom Minister Kapil Sibal and Attorney General Goolam E. Vahanvati separately.
Maran is the second minister and DMK leader to step down from the Cabinet after former telecom minister A. Raja for involvement in the 2G spectrum scam.
India's premier probe agency, the Central Bureau of Investigation (CBI), indicted him for coercing a telecom firm in selling its stake to a Malaysia-based group in which Maran's brother is a stakeholder.
Maran was the country's Telecom Minister at the time when he allegedly arm-twisted Aircel owner C. Sivasankarn to sell his 74 percent stake to Maxis group of Malaysia, where a large Tamil community lives.
Maran's resignation came a day after the CBI told the country' s Supreme Court, which is monitoring the telecom scam, that its preliminary inquiry into the allegation of Sivasankaran suggested that Maran starved Aircel of new licenses to bully him into selling out.
Maran belongs to the ruling United Progressive Alliance's southern state of Tamil Nadu-based ally DMK.
India's main opposition Bharatiya Janata Party spokesperson Rajiv Pratap Rudy said: "Maran's resignation has come very late. He should have morally resigned much before, especially after his role in the 2G scam surfaced."
The country's former Telecom Minister, A. Raja, who had last year resigned over the 40 billion U.S. dollars telecom scam, is currently in jail for allegedly selling spectrum at an undervalued rate to various telecom firms.
Editor: Zhang Xiang
English.news.cn 2011-07-08 09:52:52 FeedbackPrintRSS
NEW DELHI, July 8 (Xinhua)
Melanesian countries consider legal framework to facilitate extradition requests
Melanesian Spearhead Group (MSG) countries are engaged in talks in Vanuatu's Port Vila on the formulation of a legal framework that will bind them when it comes to facilitation for extradition requests, Fiji Ministry of Information said in a press release on Friday.
Sila Balawa, deputy secretary at Fiji Ministry of Foreign Affairs, is being accompanied by another official Peni Suveinakama to attend the Port Vila workshop.
There has been recent activities happening in Vanuatu, the Solomons, Fiji and Papua New Guinea and this workshop on the formulation of an extradition framework is very much needed, Balawa was quoted as saying.
According to the official, the Port Vila workshop is aiming to address extradition arrangements, reciprocal enforcement of foreign judgments in MSG member countries, and custody and maintenance of children between MSG members.
The purpose of the first workshop is to enable experts to discuss ways to develop a framework for extradition arrangements between MSG member countries.
The workshop was officially opened by MSG Director General Rima Ravusiro on Monday, which was participated by officials from Papua New Guinea, Solomon Islands, Fiji and Vanuatu.
Editor: Zhang Xiang
English.news.cn 2011-07-08 09:36:14 FeedbackPrintRSS
SUVA, July 8 (Xinhua)
Sila Balawa, deputy secretary at Fiji Ministry of Foreign Affairs, is being accompanied by another official Peni Suveinakama to attend the Port Vila workshop.
There has been recent activities happening in Vanuatu, the Solomons, Fiji and Papua New Guinea and this workshop on the formulation of an extradition framework is very much needed, Balawa was quoted as saying.
According to the official, the Port Vila workshop is aiming to address extradition arrangements, reciprocal enforcement of foreign judgments in MSG member countries, and custody and maintenance of children between MSG members.
The purpose of the first workshop is to enable experts to discuss ways to develop a framework for extradition arrangements between MSG member countries.
The workshop was officially opened by MSG Director General Rima Ravusiro on Monday, which was participated by officials from Papua New Guinea, Solomon Islands, Fiji and Vanuatu.
Editor: Zhang Xiang
English.news.cn 2011-07-08 09:36:14 FeedbackPrintRSS
SUVA, July 8 (Xinhua)
Indian PM expresses condolences to those killed in train-bus collision
Indian Prime Minister Manmohan Singh has expressed condolences to the families of those killed in a disastrous collision between a speeding train and a bus full of people in the wee hours of Thursday in the northern Indian state of Uttar Pradesh.
Singh announced ex-gratia relief of 200,000 rupees (4,000 U.S. dollars) for the kin of each person killed, 50,000 rupees (1,000 U.S. dollars) each for seriously injured and 10,000 rupees (200 U.S. dollars) each for those with simple injuries.
Singh, who holds the Railway portfolio, also ordered a high- level inquiry by the Commissioner of Rail Safety into the mishap.
At least 33 people were killed and 35 others injured when a train rammed into a bus carrying a marriage party at an unmanned crossing in Uttar Pradesh's Kanshi Ram Nagar.
"The accident occurred when the train on its way from Mathura to Chapra in Bihar rammed into the bus carrying people from Adupura village at the crossing in Dariyawganj area," Additional Superintendent of Police Daddan Prasad said here.
"At least 33 people have been killed and 35 others injured in the mishap," he stated, informing that the bus was carrying a total of 68 passengers.
The injured have been admitted to various hospitals in Etah and Farukkhabad districts of Uttar Pradesh.
"The injured have been taken care of and they are now in various hospitals. Everybody is out of danger," Prasad said.
Many people sitting on the roof of the bus were thrown off in the impact of the collision before the vehicle had come to a halt at the crossing after its axle broke.
Local TV showed footage of policemen carrying bodies on stretchers from the wreckage of the bus.
Train mishaps are common in India which has one of the world's busiest railway networks.
Editor: Xiong Tong
English.news.cn 2011-07-07 20:53:28 FeedbackPrintRSS
KANSHI RAM NAGAR, India, July 7 (Xinhua)
Singh announced ex-gratia relief of 200,000 rupees (4,000 U.S. dollars) for the kin of each person killed, 50,000 rupees (1,000 U.S. dollars) each for seriously injured and 10,000 rupees (200 U.S. dollars) each for those with simple injuries.
Singh, who holds the Railway portfolio, also ordered a high- level inquiry by the Commissioner of Rail Safety into the mishap.
At least 33 people were killed and 35 others injured when a train rammed into a bus carrying a marriage party at an unmanned crossing in Uttar Pradesh's Kanshi Ram Nagar.
"The accident occurred when the train on its way from Mathura to Chapra in Bihar rammed into the bus carrying people from Adupura village at the crossing in Dariyawganj area," Additional Superintendent of Police Daddan Prasad said here.
"At least 33 people have been killed and 35 others injured in the mishap," he stated, informing that the bus was carrying a total of 68 passengers.
The injured have been admitted to various hospitals in Etah and Farukkhabad districts of Uttar Pradesh.
"The injured have been taken care of and they are now in various hospitals. Everybody is out of danger," Prasad said.
Many people sitting on the roof of the bus were thrown off in the impact of the collision before the vehicle had come to a halt at the crossing after its axle broke.
Local TV showed footage of policemen carrying bodies on stretchers from the wreckage of the bus.
Train mishaps are common in India which has one of the world's busiest railway networks.
Editor: Xiong Tong
English.news.cn 2011-07-07 20:53:28 FeedbackPrintRSS
KANSHI RAM NAGAR, India, July 7 (Xinhua)
Bangladesh, India to sign deals on longstanding water sharing, border issues
Bangladesh and India on Thursday expressed optimism to sign interim deals on water sharing of the common rivers and on border demarcation during Indian Prime Minister Manmohan Singh's visit to Dhaka on Sept. 6-7.
Bangladeshi Foreign Minister Dipu Moni and Indian External Affairs Minister SM Krishna came up with the identical views on resolving the outstanding issues at a joint press conference here in Dhaka on Thursday following the official talks between the two Foreign Ministers.
Dipu Moni said the sharing of waters will be done on equity and fair share basis while the demarcation of 6.5 km border, transfer of enclaves and lands in adverse possession will be done under "a package" in the spirit of 1974 Land Boundary Agreement.
About the use of Bangladesh's Chittagong and Mongla ports, she said it would be done under a framework of agreement encompassing India, Nepal and Bhutan.
"It is a part of transit issue. We're trying to come up with a framework under which a number of protocols will be signed and that work is going on," Dipu Moni said.
She said the Joint River Commission has nearly finalized the issue of the sharing water of Teesta and Feni river and "we will be able to sign something during the visit."
Both the foreign ministers reiterated that no insurgent, extremist or terrorist group will be allowed to use the soil of their respective countries to carry out activities inimical to each other's interest.
While talking about cooperation in the energy sector, the Indian External Affairs Minister said India will supply 250 MW of electricity to Bangladesh by the end of 2012 or early 2013 at preferential rate.
The official talks ended through signing of two agreements regarding the protection of investments and movement of Bhutanese vehicles to Bangladesh through India.
Editor: Xiong Tong
English.news.cn 2011-07-07 19:29:33 FeedbackPrintRSS
DHAKA, July 7 (Xinhua)
Bangladeshi Foreign Minister Dipu Moni and Indian External Affairs Minister SM Krishna came up with the identical views on resolving the outstanding issues at a joint press conference here in Dhaka on Thursday following the official talks between the two Foreign Ministers.
Dipu Moni said the sharing of waters will be done on equity and fair share basis while the demarcation of 6.5 km border, transfer of enclaves and lands in adverse possession will be done under "a package" in the spirit of 1974 Land Boundary Agreement.
About the use of Bangladesh's Chittagong and Mongla ports, she said it would be done under a framework of agreement encompassing India, Nepal and Bhutan.
"It is a part of transit issue. We're trying to come up with a framework under which a number of protocols will be signed and that work is going on," Dipu Moni said.
She said the Joint River Commission has nearly finalized the issue of the sharing water of Teesta and Feni river and "we will be able to sign something during the visit."
Both the foreign ministers reiterated that no insurgent, extremist or terrorist group will be allowed to use the soil of their respective countries to carry out activities inimical to each other's interest.
While talking about cooperation in the energy sector, the Indian External Affairs Minister said India will supply 250 MW of electricity to Bangladesh by the end of 2012 or early 2013 at preferential rate.
The official talks ended through signing of two agreements regarding the protection of investments and movement of Bhutanese vehicles to Bangladesh through India.
Editor: Xiong Tong
English.news.cn 2011-07-07 19:29:33 FeedbackPrintRSS
DHAKA, July 7 (Xinhua)
Afghans protest alleged killing of civilians by NATO
Hundreds of Afghans in Dumanda district of Khost province, some 150 km southeast of capital Kabul, on Thursday staged a protest against the alleged killing of civilians by NATO-led troops.
The protestors claimed that the NATO-led troops during an airstrike in Kabalkhil village of Dumanda district on Wednesday hit a civilian house, killing over a dozen civilians.
"The bomb dropped by aircraft on Wednesday struck a house killing at least 13 people, all civilians and many of them children," a protester, namely Marjan Khan, told Xinhua.
Chanting anti-government and anti-NATO slogans, the protesters blocked the main highway linking Dumanda district to provincial Khost city and Gerdez city, the capital of the neighboring Paktia province, the protestors demanding punishment on those responsible for the killing of non-combatant citizens.
The protesters were peacefully dispersed later in the afternoon.
However, district police chief Hamidullah told Xinhua that the local administration has sent a team to investigate the claim and check if any civilians were killed or injured during the operation.
Nevertheless, he stated that at least 30 militants, possibly some of them civilians, had been killed during the operation against Taliban insurgents.
In the meantime, press department of NATO-led coalition in southeastern region of Afghanistan in a statement released Thursday confirmed the operation, saying the coalition troops had killed four people, all militants.
The deaths of Afghan civilians by NATO-led troops during operations against Taliban outfit have long been a contentious issue between the Afghan government and the U.S. and NATO forces in the insurgency-hit country.
English.news.cn 2011-07-07 19:28:34 FeedbackPrintRSS
KHOST, Afghanistan, July 7 (Xinhua)
The protestors claimed that the NATO-led troops during an airstrike in Kabalkhil village of Dumanda district on Wednesday hit a civilian house, killing over a dozen civilians.
"The bomb dropped by aircraft on Wednesday struck a house killing at least 13 people, all civilians and many of them children," a protester, namely Marjan Khan, told Xinhua.
Chanting anti-government and anti-NATO slogans, the protesters blocked the main highway linking Dumanda district to provincial Khost city and Gerdez city, the capital of the neighboring Paktia province, the protestors demanding punishment on those responsible for the killing of non-combatant citizens.
The protesters were peacefully dispersed later in the afternoon.
However, district police chief Hamidullah told Xinhua that the local administration has sent a team to investigate the claim and check if any civilians were killed or injured during the operation.
Nevertheless, he stated that at least 30 militants, possibly some of them civilians, had been killed during the operation against Taliban insurgents.
In the meantime, press department of NATO-led coalition in southeastern region of Afghanistan in a statement released Thursday confirmed the operation, saying the coalition troops had killed four people, all militants.
The deaths of Afghan civilians by NATO-led troops during operations against Taliban outfit have long been a contentious issue between the Afghan government and the U.S. and NATO forces in the insurgency-hit country.
English.news.cn 2011-07-07 19:28:34 FeedbackPrintRSS
KHOST, Afghanistan, July 7 (Xinhua)
Spanish FM to visit Seoul for talks on bilateral ties, other issues
Spanish Foreign Minister Trinidad Jimenez is set to visit South Korea next week for talks over expanding bilateral ties, the foreign ministry here said Thursdsay.
Jimenez, who is to arrive in Seoul next Wednesday, will meet with his South Korean counterpart Kim Sung-hwan next Thursday to discuss bilateral cooperation on a range of areas including renewable energy, aviation and national defense, according to the ministry.
The two top diplomats are also expected to discuss regional and international issues of mutual concern, such as a free trade agreement between South Korea and the European Union, the G20 talks among the world's largest economies and the financial crisis.
South Korea and Spain established formal diplomatic ties in 1950.
Editor: Chen Zhi
English.news.cn 2011-07-07 14:50:09 FeedbackPrintRSS
SEOUL, July 7 (Xinhua)
Jimenez, who is to arrive in Seoul next Wednesday, will meet with his South Korean counterpart Kim Sung-hwan next Thursday to discuss bilateral cooperation on a range of areas including renewable energy, aviation and national defense, according to the ministry.
The two top diplomats are also expected to discuss regional and international issues of mutual concern, such as a free trade agreement between South Korea and the European Union, the G20 talks among the world's largest economies and the financial crisis.
South Korea and Spain established formal diplomatic ties in 1950.
Editor: Chen Zhi
English.news.cn 2011-07-07 14:50:09 FeedbackPrintRSS
SEOUL, July 7 (Xinhua)
Seventh horse dies of Hendra in Australia, more cases feared
Horse owners and veterinarians should treat every sick horse as a potential Hendra case, Australia's Queensland horse industry warned on Thursday.
The warning came as authorities confirmed that in New South Wales (NSW), a second horse living on a property near Macksville died of the Hendra virus.
It's the seventh horse dying from the disease in recent weeks, with two cases in NSW and five in Queensland.
The NSW Health Department said six people who had close contact with the infected horse would undergo tests.
Meanwhile, Queensland Horse Council president Debbie Dekker said news of another case was worrying.
"It is scary. There has never been this many Hendra outbreaks at one time but then again last year there was only one case and that was unusual too," Dekker said.
Dekker said Hendra had many varied symptoms that could resemble those caused by colic or flu.
"Until the horse vaccine is in production we have to be extremely careful and approach all sick horses with the greatest care," she said.
"This means wearing glasses, wearing a mask and gloves."
Editor: Chen Zhi
English.news.cn 2011-07-07 14:46:02 FeedbackPrintRSS
BRISBANE, Australia, July 7 (Xinhua)
The warning came as authorities confirmed that in New South Wales (NSW), a second horse living on a property near Macksville died of the Hendra virus.
It's the seventh horse dying from the disease in recent weeks, with two cases in NSW and five in Queensland.
The NSW Health Department said six people who had close contact with the infected horse would undergo tests.
Meanwhile, Queensland Horse Council president Debbie Dekker said news of another case was worrying.
"It is scary. There has never been this many Hendra outbreaks at one time but then again last year there was only one case and that was unusual too," Dekker said.
Dekker said Hendra had many varied symptoms that could resemble those caused by colic or flu.
"Until the horse vaccine is in production we have to be extremely careful and approach all sick horses with the greatest care," she said.
"This means wearing glasses, wearing a mask and gloves."
Editor: Chen Zhi
English.news.cn 2011-07-07 14:46:02 FeedbackPrintRSS
BRISBANE, Australia, July 7 (Xinhua)
Fiji to revive scouts in schools to bring discipline to students
Fiji is trying to revive the scouts in schools to bring discipline to students.
This is an information revealed at a traditional farewell on Thursday that four senior scouts presented to the Chief Scout and President Ratu Epeli Nailatikau at the Government House before attending the scouts Jamborees in China's Taiwan and Sweden.
According to a release from the Ministry of Information, Adi Cakabau School senior scout Talei Waibuta will attend the Taiwan Jamboree on July 11-18, while Navinesh Prasad of Dilkusha Boys School, Josefa Katoinakodu of Mahatma Gandhi Memorial High School and Vineet Nadan of Gospel High School will be in Sweden for the World Jamboree.
During the function, President Nailatikau, as the Chief Scout, presented the Fiji National Scouts scarves to the four senior scouts and reminded them to be good ambassadors of Fiji abroad.
"Have a safe journey, enjoy all the activities and upon your return do make sure that you assist in rekindling the senior scout programs in your schools and the presence here today of your principals will help consolidate that message," said Nailatikau.
In late last month, Luc Pannissob, General Secretary of the World Organization of the Scout Movement, arrived in Fiji to look at first hand scouting activities both at administrative level and school level on how Fiji produces the scout association and how the movement is developed and organized in the country in general as well as what can be done to improve it.
The scouts movement in Fiji, grown through the school systems, is being encouraged as boys learn about values of life like caring, loving and being compassionate about people around them.
The mission of scouting is to contribute to the education of young people, through a value system based on the Scout Promise and Law, to help build a better world where people are self- fulfilled as individuals and play a constructive role in society.
Editor: Chen Zhi
English.news.cn 2011-07-07 13:49:47 FeedbackPrintRSS
SUVA, July 7 (Xinhua)
This is an information revealed at a traditional farewell on Thursday that four senior scouts presented to the Chief Scout and President Ratu Epeli Nailatikau at the Government House before attending the scouts Jamborees in China's Taiwan and Sweden.
According to a release from the Ministry of Information, Adi Cakabau School senior scout Talei Waibuta will attend the Taiwan Jamboree on July 11-18, while Navinesh Prasad of Dilkusha Boys School, Josefa Katoinakodu of Mahatma Gandhi Memorial High School and Vineet Nadan of Gospel High School will be in Sweden for the World Jamboree.
During the function, President Nailatikau, as the Chief Scout, presented the Fiji National Scouts scarves to the four senior scouts and reminded them to be good ambassadors of Fiji abroad.
"Have a safe journey, enjoy all the activities and upon your return do make sure that you assist in rekindling the senior scout programs in your schools and the presence here today of your principals will help consolidate that message," said Nailatikau.
In late last month, Luc Pannissob, General Secretary of the World Organization of the Scout Movement, arrived in Fiji to look at first hand scouting activities both at administrative level and school level on how Fiji produces the scout association and how the movement is developed and organized in the country in general as well as what can be done to improve it.
The scouts movement in Fiji, grown through the school systems, is being encouraged as boys learn about values of life like caring, loving and being compassionate about people around them.
The mission of scouting is to contribute to the education of young people, through a value system based on the Scout Promise and Law, to help build a better world where people are self- fulfilled as individuals and play a constructive role in society.
Editor: Chen Zhi
English.news.cn 2011-07-07 13:49:47 FeedbackPrintRSS
SUVA, July 7 (Xinhua)
New Zealand jobless rates still falling: minister
The number of New Zealanders receiving unemployment benefits has fallen for a fifth consecutive month, Social Development Minister Paula Bennett said Thursday.
"I'm delighted to see nearly 800 fewer people on unemployment benefits since May and 94 percent of that reduction is of young people," said Bennett.
It was the first time the unemployment benefit rate had decreased in the month of June for four years, she said.
The number of people collecting the unemployment benefit was down to 56,264 from a high of 68,369 in January last year, said Bennett.
"Predictions had unemployment benefits rising to about 100,000 post-recession, but we never reached those levels and in fact it has decreased by more than 9,000 in the last nine months," she said.
Young people aged 18 to 24 accounted for almost half of the decrease over the last year.
"Last month 7,800 people went off welfare into work and it's particularly positive that more than 2,700 young people canceled benefits for jobs," Bennett added.
Last month 327,817 New Zealanders were receiving some kind of government benefit.
In the Canterbury region, which has been shaken be a series of earthquakes since September last year, 6,342 people were on unemployment benefits, 962 more than the week before the Feb. 22 quake that killed at least 181 people.
However, since the February quake, total benefit numbers in Canterbury had fallen by 670, she said.
Editor: Mo Hong'e
English.news.cn 2011-07-07 12:49:14 FeedbackPrintRSS
WELLINGTON, July 7 (Xinhua)
"I'm delighted to see nearly 800 fewer people on unemployment benefits since May and 94 percent of that reduction is of young people," said Bennett.
It was the first time the unemployment benefit rate had decreased in the month of June for four years, she said.
The number of people collecting the unemployment benefit was down to 56,264 from a high of 68,369 in January last year, said Bennett.
"Predictions had unemployment benefits rising to about 100,000 post-recession, but we never reached those levels and in fact it has decreased by more than 9,000 in the last nine months," she said.
Young people aged 18 to 24 accounted for almost half of the decrease over the last year.
"Last month 7,800 people went off welfare into work and it's particularly positive that more than 2,700 young people canceled benefits for jobs," Bennett added.
Last month 327,817 New Zealanders were receiving some kind of government benefit.
In the Canterbury region, which has been shaken be a series of earthquakes since September last year, 6,342 people were on unemployment benefits, 962 more than the week before the Feb. 22 quake that killed at least 181 people.
However, since the February quake, total benefit numbers in Canterbury had fallen by 670, she said.
Editor: Mo Hong'e
English.news.cn 2011-07-07 12:49:14 FeedbackPrintRSS
WELLINGTON, July 7 (Xinhua)
500 biggest polluting companies to pay carbon price: Australian PM
Australian Prime Minister Julia Gillard on Thursday said about 500 of the biggest polluting companies will pay the full carbon price, and small business will not be hit with extra red tape.
The government will on Sunday unveil all the details of its emissions trading scheme, which will start with a fixed price for carbon from July 1, 2012.
Gillard said a smaller number than the originally estimated 1000 businesses would pay the full price.
The 500 largest polluting companies who will pay the tax include coal-fired electricity generators, mining companies, and steel and aluminum manufacturers.
"This figure of 500 strongly reinforces the point that this is a price being paid by a limited number of big businesses -- it is not being (directly) paid by Australian families," she told reporters in Canberra on Thursday.
With about three million businesses in Australia, the latest announcement means only 0.02 percent of them will be directly liable under the carbon tax.
Gillard added that there would be no new forms or red tape for small business under the carbon tax.
"They don't need to do anything except keep operating their small business," the prime minister said.
Earlier, Gillard also announced that fuel for private motorists will be excluded from the carbon tax. However, Opposition Leader Abbott said if a carbon tax did not raise the price of fuels, "it doesn't work."
The Greens' member of parliament Adam Bandt also said the exclusion of petrol from the carbon price is "disappointing."
Editor: Chen Zhi
English.news.cn 2011-07-07 12:02:10 FeedbackPrintRSS
CANBERRA, July 7 (Xinhua)
The government will on Sunday unveil all the details of its emissions trading scheme, which will start with a fixed price for carbon from July 1, 2012.
Gillard said a smaller number than the originally estimated 1000 businesses would pay the full price.
The 500 largest polluting companies who will pay the tax include coal-fired electricity generators, mining companies, and steel and aluminum manufacturers.
"This figure of 500 strongly reinforces the point that this is a price being paid by a limited number of big businesses -- it is not being (directly) paid by Australian families," she told reporters in Canberra on Thursday.
With about three million businesses in Australia, the latest announcement means only 0.02 percent of them will be directly liable under the carbon tax.
Gillard added that there would be no new forms or red tape for small business under the carbon tax.
"They don't need to do anything except keep operating their small business," the prime minister said.
Earlier, Gillard also announced that fuel for private motorists will be excluded from the carbon tax. However, Opposition Leader Abbott said if a carbon tax did not raise the price of fuels, "it doesn't work."
The Greens' member of parliament Adam Bandt also said the exclusion of petrol from the carbon price is "disappointing."
Editor: Chen Zhi
English.news.cn 2011-07-07 12:02:10 FeedbackPrintRSS
CANBERRA, July 7 (Xinhua)
Sri Lanka to relocate elephants for games
Sri Lanka is to relocate over 200 wild elephants to construct a new airport and massive games city in the south of the country to host a sporting event, a minister said Thursday.
Sri Lanka is bidding to host the 2018 Commonwealth Games in Hambantota and if selected a massive games city will be constructed at the selected location which borders a national park.
"Some 200 elephants will be relocated from parts of Hambantota where the massive development is expected to take place and they will be shifted to Weheragala in Monaragala situated 60 kilometers from Hambantota," Minister of Agrarian Services and Wildlife S.M. Chandrasena said.
A Sri Lankan environmental group said it will strongly protest the move as shifting the elephants will affect their natural habitat.
Banduranga Kariyawasam of the Green Campaign of Sri Lanka told Xinhua that Sri Lanka has already begun constructing the new airport in the area and the runway of the airport goes between an elephant corridor.
Kariyawasam said environmental groups are preparing to go to courts against the environmental impact being created by the construction of the games city.
However an official who is part of the team involved in bidding for the games to be held in Sri Lanka insisted that a full environmental assessment has been made on the games venue.
A delegation from the Commonwealth Federation was Sri Lanka last week to evaluate Sri Lanka's bid for the 2018 games. Australia's Gold Coast is the other city bidding to host the games.
Editor: Chen Zhi
English.news.cn 2011-07-07 12:00:40 FeedbackPrintRSS
COLOMBO, July 7 (Xinhua)
Sri Lanka is bidding to host the 2018 Commonwealth Games in Hambantota and if selected a massive games city will be constructed at the selected location which borders a national park.
"Some 200 elephants will be relocated from parts of Hambantota where the massive development is expected to take place and they will be shifted to Weheragala in Monaragala situated 60 kilometers from Hambantota," Minister of Agrarian Services and Wildlife S.M. Chandrasena said.
A Sri Lankan environmental group said it will strongly protest the move as shifting the elephants will affect their natural habitat.
Banduranga Kariyawasam of the Green Campaign of Sri Lanka told Xinhua that Sri Lanka has already begun constructing the new airport in the area and the runway of the airport goes between an elephant corridor.
Kariyawasam said environmental groups are preparing to go to courts against the environmental impact being created by the construction of the games city.
However an official who is part of the team involved in bidding for the games to be held in Sri Lanka insisted that a full environmental assessment has been made on the games venue.
A delegation from the Commonwealth Federation was Sri Lanka last week to evaluate Sri Lanka's bid for the 2018 games. Australia's Gold Coast is the other city bidding to host the games.
Editor: Chen Zhi
English.news.cn 2011-07-07 12:00:40 FeedbackPrintRSS
COLOMBO, July 7 (Xinhua)
NATO-led ISAF helicopter makes forced landing in E Afghanistan
A helicopter from the NATO-led International Security Assistance Force (ISAF) made a forced landing in eastern Afghanistan on Thursday, a press release issued by the ISAF Joint Command said.
In a former press release, the ISAF Joint Command said the helicopter crashed on Thursday morning in Parwan province, bordering capital city Kabul on the east.
"There were no injuries and the crew has been recovered," said the former press release, adding, "What caused the aircraft to crash is under investigation; however,initial reporting indicates there was no enemy activity in the area at the time of the incident."
The Afghan Taliban are not much active in the hilly Parwan province, and so far, there is no report from the Taliban militants, or other militant groups, to claim the responsibility for any attack against the helicopter.
Mostly, the U.S. and French troops and South Korean civilian workers are based in and around Parwan province.
English.news.cn 2011-07-07 10:29:41 FeedbackPrintRSS
KABUL, July 7 (Xinhua)
In a former press release, the ISAF Joint Command said the helicopter crashed on Thursday morning in Parwan province, bordering capital city Kabul on the east.
"There were no injuries and the crew has been recovered," said the former press release, adding, "What caused the aircraft to crash is under investigation; however,initial reporting indicates there was no enemy activity in the area at the time of the incident."
The Afghan Taliban are not much active in the hilly Parwan province, and so far, there is no report from the Taliban militants, or other militant groups, to claim the responsibility for any attack against the helicopter.
Mostly, the U.S. and French troops and South Korean civilian workers are based in and around Parwan province.
English.news.cn 2011-07-07 10:29:41 FeedbackPrintRSS
KABUL, July 7 (Xinhua)
Tuesday, July 5, 2011
Trials of "silent protesters" begin in Belarus
Trials of the almost 300 people detained during the protests of silent solidarity on Belarus' Independent Day began in the courts throughout the country on Monday.
Two hundred people were arrested in the capital Minsk during Sunday's protests while another 80 were arrested in other parts of the country. According to Viasna Human Rights Centre, among the more than 200 protesters arrested in Minsk were 17 journalists. Some of the journalists have been released, but more 150 people remain in detention.
Trials are ongoing, and the detainees are being charged with minor hooliganism or participation in an unsanctioned meeting, offenses which involve short administrative sentences of 10-15 days.
State police and undercover officers grabbed demonstrators at rallies in Minsk and other Belarusian cities, where citizens held "silent" demonstrations against country's economic troubles on Sunday, when Belarus celebrated its Independent Day. They wanted to show their dissatisfaction with Axlander Lukashenko, the current president, by clapping their hands.
In Minsk police used tear gas to disperse demonstrators taking part in a silent protest by the capital's railway station. Some of the arrests came as people started clapping, which has been deemed as a sign of silent protest by Belarusian authorities.
The move to ban clapping comes as demonstrators have been using web-based social networks to organize silent protests every Wednesday since the beginning of June. While no banners have been held up to protest against authorities, which would likely end in arrest, demonstrators have taken to clapping as a sign of objection to Lukashenko.
"Our private life is under severe pressure. We are banned to express our attitude to what is going on in our country. Undercover officers may do whatever they want, they just grab ordinary people and drive them away on the cars without indentifying signs," Andrey, a 25-year-old demonstrator, told Xinhua correspondent.
John Dalhuisen, Amnesty International's Deputy Director for Europe and Central Asia says: "Belarus continues to ride roughshod over human rights, but these latest mass arrests and use of teargas against peaceful protesters show that attacks on freedom of expression appear to be intensifying".
"These blocks on communication are an attempt to cut off demonstrators from each other and clearly violates the right to freedom of expression," said John Dalhuisen.
Earlier Lukashenko had warned that he would not tolerate any form of protest. "Stomping, clapping, bellowing and roaring on squares and streets cannot solve problems. The state has the resources and power to pacify those who violate the law and the constitution," he said, stressing that protesters only wanted to instill chaos in the country.
At the end of May Belarus' National Bank cut almost in half the value of the Belarusian ruble against the dollar, causing panic across the country. Prices are rising very rapidly, dwindling incomes and savings of ordinary Belarusians. Throughout the country people has started to launch regular public protests against the authority.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:52:03 FeedbackPrintRSS
MINSK, July 4 (Xinhua)
Two hundred people were arrested in the capital Minsk during Sunday's protests while another 80 were arrested in other parts of the country. According to Viasna Human Rights Centre, among the more than 200 protesters arrested in Minsk were 17 journalists. Some of the journalists have been released, but more 150 people remain in detention.
Trials are ongoing, and the detainees are being charged with minor hooliganism or participation in an unsanctioned meeting, offenses which involve short administrative sentences of 10-15 days.
State police and undercover officers grabbed demonstrators at rallies in Minsk and other Belarusian cities, where citizens held "silent" demonstrations against country's economic troubles on Sunday, when Belarus celebrated its Independent Day. They wanted to show their dissatisfaction with Axlander Lukashenko, the current president, by clapping their hands.
In Minsk police used tear gas to disperse demonstrators taking part in a silent protest by the capital's railway station. Some of the arrests came as people started clapping, which has been deemed as a sign of silent protest by Belarusian authorities.
The move to ban clapping comes as demonstrators have been using web-based social networks to organize silent protests every Wednesday since the beginning of June. While no banners have been held up to protest against authorities, which would likely end in arrest, demonstrators have taken to clapping as a sign of objection to Lukashenko.
"Our private life is under severe pressure. We are banned to express our attitude to what is going on in our country. Undercover officers may do whatever they want, they just grab ordinary people and drive them away on the cars without indentifying signs," Andrey, a 25-year-old demonstrator, told Xinhua correspondent.
John Dalhuisen, Amnesty International's Deputy Director for Europe and Central Asia says: "Belarus continues to ride roughshod over human rights, but these latest mass arrests and use of teargas against peaceful protesters show that attacks on freedom of expression appear to be intensifying".
"These blocks on communication are an attempt to cut off demonstrators from each other and clearly violates the right to freedom of expression," said John Dalhuisen.
Earlier Lukashenko had warned that he would not tolerate any form of protest. "Stomping, clapping, bellowing and roaring on squares and streets cannot solve problems. The state has the resources and power to pacify those who violate the law and the constitution," he said, stressing that protesters only wanted to instill chaos in the country.
At the end of May Belarus' National Bank cut almost in half the value of the Belarusian ruble against the dollar, causing panic across the country. Prices are rising very rapidly, dwindling incomes and savings of ordinary Belarusians. Throughout the country people has started to launch regular public protests against the authority.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:52:03 FeedbackPrintRSS
MINSK, July 4 (Xinhua)
Eurozone to decide on new Greek bailout in September
Eurozone countries will decide on a new bailout package for debt-ridden Greece in as late as the first half of September, Slovak Finance Minister Ivan Miklos told reporters on Monday.
"The talks on the volume and structure vis-a-vis the participation of the private sector (in the bailout) haven't been concluded yet," said Miklos.
The eurozone members agreed to postpone the date during a conference telephone call on Saturday, he said.
Miklos said talks on the participation of the private sector in the second Greek bailout should be concluded by August 20, adding that a memorandum on understanding must also be drawn up.
Greece, the first to require outside help in the face of the lingering European sovereign debt crisis, bought time last weekend after Europe greenlighted the fifth tranche of an 110-billion-euro bailout agreed between Athens and the European Union together with the International Monetary Fund (IMF) in May last year.
But the country is still in desperate need of a second and longer-term rescue package of about the same magnitude as the first one.
Eurozone finance ministers are expected to meet on July 11, but diplomats had warned that a finalized decision would have to wait a few more weeks.
Miklos said earlier that he would raise six conditions at the eurozone finance ministers' meeting next week.
According to Miklos, apart from the participation of the private sector by a volume of at least 30 billion euros, there must also be a guarantee that Slovakia will see its loan returned.
Other conditions include privatisation of Greece's property, an agreement of Greek political parties on meeting the country's financial obligations, participation of the International Monetary Fund (IMF) in the bailout, and an analysis of debt recoverability.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:49:45 FeedbackPrintRSS
Bratislava, July 4 (Xinhua)
"The talks on the volume and structure vis-a-vis the participation of the private sector (in the bailout) haven't been concluded yet," said Miklos.
The eurozone members agreed to postpone the date during a conference telephone call on Saturday, he said.
Miklos said talks on the participation of the private sector in the second Greek bailout should be concluded by August 20, adding that a memorandum on understanding must also be drawn up.
Greece, the first to require outside help in the face of the lingering European sovereign debt crisis, bought time last weekend after Europe greenlighted the fifth tranche of an 110-billion-euro bailout agreed between Athens and the European Union together with the International Monetary Fund (IMF) in May last year.
But the country is still in desperate need of a second and longer-term rescue package of about the same magnitude as the first one.
Eurozone finance ministers are expected to meet on July 11, but diplomats had warned that a finalized decision would have to wait a few more weeks.
Miklos said earlier that he would raise six conditions at the eurozone finance ministers' meeting next week.
According to Miklos, apart from the participation of the private sector by a volume of at least 30 billion euros, there must also be a guarantee that Slovakia will see its loan returned.
Other conditions include privatisation of Greece's property, an agreement of Greek political parties on meeting the country's financial obligations, participation of the International Monetary Fund (IMF) in the bailout, and an analysis of debt recoverability.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:49:45 FeedbackPrintRSS
Bratislava, July 4 (Xinhua)
EU to facilitate financial assistance to third countires
The European Commission adopted Monday a proposal for a Framework Regulation aimed at facilitating macro-financial assistance (MFA) to third countries experiencing balance-of-payments difficulties.
According to a statement issued by the commission, the proposed Framework Regulation aims to make MFA faster and more effective by laying down key rules governing MFA in a formal legal act and speeding up decision-making for individual MFA operations.
"EU's macro-financial assistance has made a valuable contribution to macroeconomic stability in candidate, potential candidate and neighbourhood countries, with positive spill-over effects on the EU economy," said Olli Rehn, Commissioner for Economic and Monetary Affairs.
"Therefore it is important to further strengthen the MFA operations and enhance the effectiveness of this crisis instrument," he said.
Since the launch of the MFA in 1990, altogether 55 MFA decisions has been made benefiting 23 countries, with a total commitment amounting to 7.4 billion euros (10.7 billion dollars).
However, Monday's statement acknowledged that the case-by-case legislative decision and co-decision between the European Parliament and the European Council have "tended to reduce the effectiveness and transparency of the MFA.
The proposed Framework Regulation will speeds up the decision-making for individual MFA operations by granting eligible third countries MFA through an implementing act of the Commission under the supervision of a committee of Member State representatives, the statement said.
A swifter decision-making process could help beneficiary countries better withstand short-term external financial pressures.
The proposed Framework Regulation still needs approval from European Council and European Parliament before formally taking effect.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:49:19 FeedbackPrintRSS
BRUSSELS, July 4 (Xinhua)
According to a statement issued by the commission, the proposed Framework Regulation aims to make MFA faster and more effective by laying down key rules governing MFA in a formal legal act and speeding up decision-making for individual MFA operations.
"EU's macro-financial assistance has made a valuable contribution to macroeconomic stability in candidate, potential candidate and neighbourhood countries, with positive spill-over effects on the EU economy," said Olli Rehn, Commissioner for Economic and Monetary Affairs.
"Therefore it is important to further strengthen the MFA operations and enhance the effectiveness of this crisis instrument," he said.
Since the launch of the MFA in 1990, altogether 55 MFA decisions has been made benefiting 23 countries, with a total commitment amounting to 7.4 billion euros (10.7 billion dollars).
However, Monday's statement acknowledged that the case-by-case legislative decision and co-decision between the European Parliament and the European Council have "tended to reduce the effectiveness and transparency of the MFA.
The proposed Framework Regulation will speeds up the decision-making for individual MFA operations by granting eligible third countries MFA through an implementing act of the Commission under the supervision of a committee of Member State representatives, the statement said.
A swifter decision-making process could help beneficiary countries better withstand short-term external financial pressures.
The proposed Framework Regulation still needs approval from European Council and European Parliament before formally taking effect.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:49:19 FeedbackPrintRSS
BRUSSELS, July 4 (Xinhua)
Italy's tight budget plan "a positive message": OECD head
Secretary-General of the Organization for Economic Cooperation and Development (OECD) Angel Gurria on Monday praised Italy's newly approved budget plan aimed at cutting down deficit spending and boosting economic growth.
"Now that the government has specified how it intends to stabilize its public finances by 2014 and this indeed sends a positive message of credibility and confidence to world markets," said Gurria in a closing speech at the East Forum 2011, a global financial conference jointly organized in Rome by the OECD and leading Unicredit Bank, Italian state television Rai reported.
"I am glad that Italy is following recommendations set forth by the OECD and we are always willing to support the Italian government in implementing such important measures," added Gurria.
Gurria also stressed the importance of balancing tight fiscal and monetary policies with "a social dimension" in order to overcome current economic obstacles and re-launch the economy.
The Italian cabinet approved last Thursday a tight 47 billion euro (68 billion U.S. dollars) budget plan aimed at curbing its elevated debt and deficit levels in an attempt to shield the country from a possible domino-effect of the Greek debt crisis. The document is now set for approval by parliament before the summer break.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:45:02 FeedbackPrintRSS
ROME, July 4 (Xinhua)
"Now that the government has specified how it intends to stabilize its public finances by 2014 and this indeed sends a positive message of credibility and confidence to world markets," said Gurria in a closing speech at the East Forum 2011, a global financial conference jointly organized in Rome by the OECD and leading Unicredit Bank, Italian state television Rai reported.
"I am glad that Italy is following recommendations set forth by the OECD and we are always willing to support the Italian government in implementing such important measures," added Gurria.
Gurria also stressed the importance of balancing tight fiscal and monetary policies with "a social dimension" in order to overcome current economic obstacles and re-launch the economy.
The Italian cabinet approved last Thursday a tight 47 billion euro (68 billion U.S. dollars) budget plan aimed at curbing its elevated debt and deficit levels in an attempt to shield the country from a possible domino-effect of the Greek debt crisis. The document is now set for approval by parliament before the summer break.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:45:02 FeedbackPrintRSS
ROME, July 4 (Xinhua)
German coalition to cut tax in 2013 before major election
After years of disputes, Germany's center-right coalition agreed to launch tax cuts in the federal election year 2013, as the country saw a robust recovery with higher tax intake, officials said on Monday.
Coalition leaders are still discussing details over the tax cuts and the final proposal is due to be officially approved by Chancellor Angela Merkel's cabinet on Wednesday, said Christian Lindner, General Secretary of the Free Democrats (FDP), a small pro-business party in the ruling coalition along with Merkel's Christian Democrats (CDU).
The tax cuts are reportedly aimed at low and middle income earners and to be taken into force before the 2013 federal elections, when the current coalition will face tough challenges from opposition parties. However, the very amount of the cuts remained unknown.
"Now we have a timeframe but we will probably set the size in autumn," Lindner told German public television ARD. "We have to see how tax revenues develop before we can determine the amount (of tax cuts)."
The issue of tax cuts has triggered heated discussion within the coalition since 2009 when the FDP campaigned for such a move. However, some leaders of the CDU rebuffed the proposal, arguing that the government could not afford major cuts as it viewed debt-reduction mission as top priority.
Officials said that Germany's solid recovery since early 2010 left much larger room for tax-cut advocators, as the country would obtain adequate resources and revenues to conduct the tax cuts and slash the deficit at the same time.
Withstanding challenges of eurozone debt crisis, inflation pressure and soaring oil prices, the German economy registered a stunning 3.6 percent growth in 2010. The German government expected a 2.6-percent increase this year.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:44:37 FeedbackPrintRSS
BERLIN, July 4 (Xinhua)
Coalition leaders are still discussing details over the tax cuts and the final proposal is due to be officially approved by Chancellor Angela Merkel's cabinet on Wednesday, said Christian Lindner, General Secretary of the Free Democrats (FDP), a small pro-business party in the ruling coalition along with Merkel's Christian Democrats (CDU).
The tax cuts are reportedly aimed at low and middle income earners and to be taken into force before the 2013 federal elections, when the current coalition will face tough challenges from opposition parties. However, the very amount of the cuts remained unknown.
"Now we have a timeframe but we will probably set the size in autumn," Lindner told German public television ARD. "We have to see how tax revenues develop before we can determine the amount (of tax cuts)."
The issue of tax cuts has triggered heated discussion within the coalition since 2009 when the FDP campaigned for such a move. However, some leaders of the CDU rebuffed the proposal, arguing that the government could not afford major cuts as it viewed debt-reduction mission as top priority.
Officials said that Germany's solid recovery since early 2010 left much larger room for tax-cut advocators, as the country would obtain adequate resources and revenues to conduct the tax cuts and slash the deficit at the same time.
Withstanding challenges of eurozone debt crisis, inflation pressure and soaring oil prices, the German economy registered a stunning 3.6 percent growth in 2010. The German government expected a 2.6-percent increase this year.
Editor: Mu Xuequan
English.news.cn 2011-07-05 05:44:37 FeedbackPrintRSS
BERLIN, July 4 (Xinhua)
Ukrainian gov't approves EU integration plan for 2011
The Ukrainian government has approved a plan of priority measures for European Union (EU) integration, the cabinet's press service said in statement posted its website on Monday.
The document aims at deepening Ukraine's cooperation with EU by means of implementing reforms. The main purpose of these changes is the creation of free trade zone with the European Union and receiving financial assistance from Europe.
The government hopes that the adoption of the plan will ensure the introduction of domestic social and economic reforms, and create basis for the future implementation of association agreement between Ukraine and the EU.
On late June Ukrainian President Viktor Yanukovych said that acceleration of Ukraine's European integration is a priority issue for Kiev. And visa regime liberalization is currently one of the top questions for Ukraine.
Editor: Mu Xuequan
English.news.cn 2011-07-05 00:52:52 FeedbackPrintRSS
KIEV, July 4 (Xinhua)
The document aims at deepening Ukraine's cooperation with EU by means of implementing reforms. The main purpose of these changes is the creation of free trade zone with the European Union and receiving financial assistance from Europe.
The government hopes that the adoption of the plan will ensure the introduction of domestic social and economic reforms, and create basis for the future implementation of association agreement between Ukraine and the EU.
On late June Ukrainian President Viktor Yanukovych said that acceleration of Ukraine's European integration is a priority issue for Kiev. And visa regime liberalization is currently one of the top questions for Ukraine.
Editor: Mu Xuequan
English.news.cn 2011-07-05 00:52:52 FeedbackPrintRSS
KIEV, July 4 (Xinhua)
Sunday, July 3, 2011
Fiji adopts social housing policy to assist difficult families
The Fijian authorities are carrying out a social housing policy to assist existing home owners who face genuine financial difficulty.
Since the policy was announced in January by the Housing Authority (HA), 64 families have their home loan accounts written off with a total value of over one million Fiji dollars (0.6 million U.S. dollars), which ensured that home owners who meet the criteria for the writing off were provided assistance.
HA chief executive officer Alipate Naiorosui said on Thursday that "the social housing policy being implemented targets our customers who have either paid more than twice the principal loan amount, are retired or can prove genuine financial difficulty."
Peni and Losalini Atama, who are both retired and run a small canteen, are now proud home owners after they received a letter from the authority advising them that the home loan account for their two-bedroom double storey terrace home has been written off.
"This is truly a blessing for my family. We had just under 10, 000 Fiji dollars (5,650 U.S. dollars) remaining on our account and we are very grateful for the assistance provided by the government through the Housing Authority," Atama said from his residence.
The social housing policy is not a hand out by the government, but a program to ensure that those most likely to lose their homes due to disability, sickness or retirement are provided assistance through the strong criteria in place to assist those citizens who qualify.
Editor: yan
English.news.cn 2011-06-30 06:41:58 FeedbackPrintRSS
SUVA, June 30 (Xinhua)
Since the policy was announced in January by the Housing Authority (HA), 64 families have their home loan accounts written off with a total value of over one million Fiji dollars (0.6 million U.S. dollars), which ensured that home owners who meet the criteria for the writing off were provided assistance.
HA chief executive officer Alipate Naiorosui said on Thursday that "the social housing policy being implemented targets our customers who have either paid more than twice the principal loan amount, are retired or can prove genuine financial difficulty."
Peni and Losalini Atama, who are both retired and run a small canteen, are now proud home owners after they received a letter from the authority advising them that the home loan account for their two-bedroom double storey terrace home has been written off.
"This is truly a blessing for my family. We had just under 10, 000 Fiji dollars (5,650 U.S. dollars) remaining on our account and we are very grateful for the assistance provided by the government through the Housing Authority," Atama said from his residence.
The social housing policy is not a hand out by the government, but a program to ensure that those most likely to lose their homes due to disability, sickness or retirement are provided assistance through the strong criteria in place to assist those citizens who qualify.
Editor: yan
English.news.cn 2011-06-30 06:41:58 FeedbackPrintRSS
SUVA, June 30 (Xinhua)
Interview: Pakistan to continue, encourage exchanges between Pakitani political parties, CPC: president
Pakistan will continue to encourage exchanges between its political parties and the Communist Party of China (CPC), Pakistani President Asif Ali Zardari said shortly before the 90th anniversary of the founding of the CPC on July 1.
The year 2011 has been designated as the "Year of China-Pakistan Friendship." A series of activities are being held in the political economic, trade, military, cultural, sporting and education fields to celebrate the 60th anniversary of the establishment of China-Pakistan diplomatic relations.
Exchanges of delegations of political parties are also an important component of the celebrations of the Friendship Year, Zardari said in a written interview with Xinhua.
"Let me first congratulate on the 90th anniversary of the founding of the Communist Party of China," said Zardari, who added he appreciated the role of the CPC in the transformation of China.
Zardari is a co-chairman of the Pakistan People's Party (PPP) -- the largest political party of Pakistan.
"The relationship between the CPC and PPP is old and strong...the sagacious leaders of our two countries decades ago laid the foundation for the solid trust that exists between Pakistan and China," Zardari said.
He said he should pay tribute to the wisdom of the "architects" of the Pakistan-China friendship, mentioning late Pakistani leader Shaheed Zulfiqar Ali Bhutto (1928-1979), and late Chinese leaders Mao Zedong (1893-1976) and Zhou Enlai (1898-1976).
Zardari said the close ties between the CPC and PPP played an important role in cementing ties between the two countries.
"We will continue and encourage strengthening exchanges between our political parties and the CPC," he said, "This relationship is very important in bringing the people of two countries closer."
May 21 was the 60th anniversary of the establishment of diplomatic relations between China and Pakistan. When commenting on the China-Pakistani friendship over the past 60 years, Zardari described it as a "model relationship."
"No other relationship can match this time-tested partnership," he said.
China and Pakistan enjoy a multifaceted and multidimensional relationship that spans a vast spectrum of political, strategic defense,economic and trade areas.
The two countries greatly value their cherished friendship and have completely trust on all bilateral, regional and global issues, the president said.
The close friendly and cooperative relations between Pakistan and China are also a factor of peace and stability for the region and beyond, he said.
"I have confident that through our joint work, the torch of the Pakistan-China friendship will be carried forward from generation to generation, century and cenruty, millennium to millennium," Zardari said.
When asked about new growth points for bilateral relations, Zardari said that the goodwill between China and Pakistan must act as a precursor for adding greater "commercial" and "cultural" content to the economic and public diplomacy between the two countries.
Further consolidating the economic content of China-Pakistan relationship is a major priority for Pakistan in the future, Zardari said.
"We plan to make use of the vast potential for bilateral economic cooperation," he said.
He said that there are about 120 Chinese enterprises already in Pakistan, and that the country welcomes Chinese investments in domestic mega projects.
People-to-people contacts also need to be promoted between the two countries, the president said. He said his daughter, Assefa Bhutto Zardari, has already said she would learn to speak Chinese.
"China's civilization renaissance is a defining theme of the 21st century," Zardari said, "China's phenominal ascent... bears testimony to the wisdom of its leaders and genius of its people."
In Zardari's view, with China's economic rise, the gravity of global power has shifted from the Euro-Atlantic to the Asia-Pacific region. As a result, Asia is widely perceived as as the continent of the 21th century.
Pakistan takes great pride in the economic transformation and achievements of China and hopes to learn from the Chinese experience and emulate China's development model with Beijing's help, the president said.
Editor: yan
English.news.cn 2011-06-30 00:29:35 FeedbackPrintRSS
BEIJING, June 29 (Xinhua)
The year 2011 has been designated as the "Year of China-Pakistan Friendship." A series of activities are being held in the political economic, trade, military, cultural, sporting and education fields to celebrate the 60th anniversary of the establishment of China-Pakistan diplomatic relations.
Exchanges of delegations of political parties are also an important component of the celebrations of the Friendship Year, Zardari said in a written interview with Xinhua.
"Let me first congratulate on the 90th anniversary of the founding of the Communist Party of China," said Zardari, who added he appreciated the role of the CPC in the transformation of China.
Zardari is a co-chairman of the Pakistan People's Party (PPP) -- the largest political party of Pakistan.
"The relationship between the CPC and PPP is old and strong...the sagacious leaders of our two countries decades ago laid the foundation for the solid trust that exists between Pakistan and China," Zardari said.
He said he should pay tribute to the wisdom of the "architects" of the Pakistan-China friendship, mentioning late Pakistani leader Shaheed Zulfiqar Ali Bhutto (1928-1979), and late Chinese leaders Mao Zedong (1893-1976) and Zhou Enlai (1898-1976).
Zardari said the close ties between the CPC and PPP played an important role in cementing ties between the two countries.
"We will continue and encourage strengthening exchanges between our political parties and the CPC," he said, "This relationship is very important in bringing the people of two countries closer."
May 21 was the 60th anniversary of the establishment of diplomatic relations between China and Pakistan. When commenting on the China-Pakistani friendship over the past 60 years, Zardari described it as a "model relationship."
"No other relationship can match this time-tested partnership," he said.
China and Pakistan enjoy a multifaceted and multidimensional relationship that spans a vast spectrum of political, strategic defense,economic and trade areas.
The two countries greatly value their cherished friendship and have completely trust on all bilateral, regional and global issues, the president said.
The close friendly and cooperative relations between Pakistan and China are also a factor of peace and stability for the region and beyond, he said.
"I have confident that through our joint work, the torch of the Pakistan-China friendship will be carried forward from generation to generation, century and cenruty, millennium to millennium," Zardari said.
When asked about new growth points for bilateral relations, Zardari said that the goodwill between China and Pakistan must act as a precursor for adding greater "commercial" and "cultural" content to the economic and public diplomacy between the two countries.
Further consolidating the economic content of China-Pakistan relationship is a major priority for Pakistan in the future, Zardari said.
"We plan to make use of the vast potential for bilateral economic cooperation," he said.
He said that there are about 120 Chinese enterprises already in Pakistan, and that the country welcomes Chinese investments in domestic mega projects.
People-to-people contacts also need to be promoted between the two countries, the president said. He said his daughter, Assefa Bhutto Zardari, has already said she would learn to speak Chinese.
"China's civilization renaissance is a defining theme of the 21st century," Zardari said, "China's phenominal ascent... bears testimony to the wisdom of its leaders and genius of its people."
In Zardari's view, with China's economic rise, the gravity of global power has shifted from the Euro-Atlantic to the Asia-Pacific region. As a result, Asia is widely perceived as as the continent of the 21th century.
Pakistan takes great pride in the economic transformation and achievements of China and hopes to learn from the Chinese experience and emulate China's development model with Beijing's help, the president said.
Editor: yan
English.news.cn 2011-06-30 00:29:35 FeedbackPrintRSS
BEIJING, June 29 (Xinhua)
DPRK warns South Korea of all-out military retaliation
The Democratic People's Republic of Korea (DPRK) military on Wednesday warned the south side of an all-out military retaliation for the latter's recent provocations, the official news agency KCNA reported.
According to the KCNA, the Committee for the Peaceful Reunification of Korea (CPRK) said a notice was sent to the south side in which it said the S. Korean forces' recent act of hurting the dignity of the leadership of the DPRK is "one more unpardonable hideous provocation and a declaration of a war against the DPRK."
The notice urged the south side to "immediately make apology for the recent provocations, punish the prime movers, remove all the foul slogans and stop reckless provocations at once."
The notice warned that if the south side continues its provocations defiling the dignity of the leadership of the DPRK and its system and army, the DPRK will resolutely counter with "an all-out military retaliation and merciless measures for punishment."
According to the KCNA, the CPRK tried to send the urgent notice to the South Korean authorities through Panmunjom on Wednesday. But the south side did not accept the notice. Under this situation the CPRK decided to open to public the notice addressed to Chongwadae.
It is reported that the Third Infantry Division of the South Korean Fifth Army Corps in the central sector of the front and other units displayed anti-DPRK slogans and placards in forefront areas in recent days.
Editor: yan
English.news.cn 2011-06-30 00:28:46 FeedbackPrintRSS
PYONGYANG, June 29 (Xinhua)
According to the KCNA, the Committee for the Peaceful Reunification of Korea (CPRK) said a notice was sent to the south side in which it said the S. Korean forces' recent act of hurting the dignity of the leadership of the DPRK is "one more unpardonable hideous provocation and a declaration of a war against the DPRK."
The notice urged the south side to "immediately make apology for the recent provocations, punish the prime movers, remove all the foul slogans and stop reckless provocations at once."
The notice warned that if the south side continues its provocations defiling the dignity of the leadership of the DPRK and its system and army, the DPRK will resolutely counter with "an all-out military retaliation and merciless measures for punishment."
According to the KCNA, the CPRK tried to send the urgent notice to the South Korean authorities through Panmunjom on Wednesday. But the south side did not accept the notice. Under this situation the CPRK decided to open to public the notice addressed to Chongwadae.
It is reported that the Third Infantry Division of the South Korean Fifth Army Corps in the central sector of the front and other units displayed anti-DPRK slogans and placards in forefront areas in recent days.
Editor: yan
English.news.cn 2011-06-30 00:28:46 FeedbackPrintRSS
PYONGYANG, June 29 (Xinhua)
S.Korea's tightening rule on household debts to drive up interest rates
South Korea's financial watchdog said Wednesday it will tighten rules on household debts as excessively rising debts are feared to hamper economic growth.
According to the statement by the Financial Services Commission (FSC), local banks will be required to raise the proportion of fixed-rate loans to 30 percent from the current 5 percent by 2016.
Floating-rate loans accounted for 95 percent of home-backed loans in the country as of the end of 2009, far higher than 10 percent in the U.S., according to the statement. The loans with floating rate, the interest payments of which decrease in accordance with the central bank's accommodative monetary policy, have been blamed as one of the culprits for surging household debts in South Korea.
The Bank of Korea (BOK) cut its policy rate to a record-low of 2 percent following the global financial crisis. The nation's households rushed to borrow loans to enjoy the record-low borrowing costs, sending the household credit to a record 801.4 trillion won (745 billion U.S. dollars) as of the end of March.
An increase in fixed-rate loans will reduce risks for default in household debts as the BOK is expected to maintain its monetary tightening stance for the time being. The BOK board members decided unanimously to raise the key interest rate to 3.25 percent at the June rate-setting meeting.
Market watchers, however, warned that rising fixed-rate loans may strengthen demand for paying positions in the interest rate swap (IRS) market, driving local bond yields higher in the end. The yield on the three-year treasury notes jumped 5 basis points to 3.77 percent, and the return on the benchmark five-year government bonds gained 4 basis points to close at 4.01 percent. Local banks have massively built up their IRS receiving positions to hedge for the potential risk of rate decreases. The interest margin of local banks, which extend loans with floating rates, contracts when the market rates were lower, so domestic banks locked in profits in advance by receiving the fixed-rate interests through the IRS market.
"Reducing floating-rate loans may trigger unwinding of the existing IRS receiving positions. The unwinding will boost the IRS rate higher, leading to an increase in local bond yields," a bond analyst at local brokerage told Xinhua.
"Rising fixed-rate loans will increase IRS pay positions among local banks, pressuring local bond yields to go higher," said a local bond dealer at a foreign bank, who asked to be unidentified. According to a separate statement, the FSC plans to encourage banks with a capital adequacy ratio of at least 10 percent to issue covered bonds.
Covered bonds have a form of asset-backed securities (ABS) with lower yields and longer maturities, backed by assets such as mortgage loans. Once the covered bonds, which have longer maturities, are actively sold by local banks as planned, local bond yields will likely be lifted mainly in longer tenor amid growing supply of the bonds, market watchers here said.
"An increasing supply of covered bonds will push the local bond yields with longer maturities to go higher," the bond analyst at local brokerage said.
The analyst, however, forecast that growing issue of covered bonds will activate the local bond market as the ten-year government bonds are the only target for long-term investors such as insurers in the country.
Meanwhile, the tightening rules on the loan-to-deposit ratio of local banks may add upward pressures on the borrowing costs in the local funding market, experts said. Domestic banks will be asked to lower their loan-to-deposit below the maximum 100 percent level by June 2012. The financial watchdog originally planned to cut the ratio by the end of 2013.
The loan-to-deposit ratio gauges the percentage of loans against deposits. The higher reading indicates a bank extended loans more than it can raise funds. Local banks should choose between reducing their lending and increasing their deposits when they want the ratio down.
"A decrease in lending by local banks will lead local firms to pay higher interests when they need to finance operations. Banks' efforts to increase their deposits will also boost the deposit rate higher, resulting in higher borrowing costs," the bond analyst at local brokerage said.
Editor: yan
English.news.cn 2011-06-29 23:52:11 FeedbackPrintRSS
By Yoo Seungki
SEOUL, June 29 (Xinhua)
According to the statement by the Financial Services Commission (FSC), local banks will be required to raise the proportion of fixed-rate loans to 30 percent from the current 5 percent by 2016.
Floating-rate loans accounted for 95 percent of home-backed loans in the country as of the end of 2009, far higher than 10 percent in the U.S., according to the statement. The loans with floating rate, the interest payments of which decrease in accordance with the central bank's accommodative monetary policy, have been blamed as one of the culprits for surging household debts in South Korea.
The Bank of Korea (BOK) cut its policy rate to a record-low of 2 percent following the global financial crisis. The nation's households rushed to borrow loans to enjoy the record-low borrowing costs, sending the household credit to a record 801.4 trillion won (745 billion U.S. dollars) as of the end of March.
An increase in fixed-rate loans will reduce risks for default in household debts as the BOK is expected to maintain its monetary tightening stance for the time being. The BOK board members decided unanimously to raise the key interest rate to 3.25 percent at the June rate-setting meeting.
Market watchers, however, warned that rising fixed-rate loans may strengthen demand for paying positions in the interest rate swap (IRS) market, driving local bond yields higher in the end. The yield on the three-year treasury notes jumped 5 basis points to 3.77 percent, and the return on the benchmark five-year government bonds gained 4 basis points to close at 4.01 percent. Local banks have massively built up their IRS receiving positions to hedge for the potential risk of rate decreases. The interest margin of local banks, which extend loans with floating rates, contracts when the market rates were lower, so domestic banks locked in profits in advance by receiving the fixed-rate interests through the IRS market.
"Reducing floating-rate loans may trigger unwinding of the existing IRS receiving positions. The unwinding will boost the IRS rate higher, leading to an increase in local bond yields," a bond analyst at local brokerage told Xinhua.
"Rising fixed-rate loans will increase IRS pay positions among local banks, pressuring local bond yields to go higher," said a local bond dealer at a foreign bank, who asked to be unidentified. According to a separate statement, the FSC plans to encourage banks with a capital adequacy ratio of at least 10 percent to issue covered bonds.
Covered bonds have a form of asset-backed securities (ABS) with lower yields and longer maturities, backed by assets such as mortgage loans. Once the covered bonds, which have longer maturities, are actively sold by local banks as planned, local bond yields will likely be lifted mainly in longer tenor amid growing supply of the bonds, market watchers here said.
"An increasing supply of covered bonds will push the local bond yields with longer maturities to go higher," the bond analyst at local brokerage said.
The analyst, however, forecast that growing issue of covered bonds will activate the local bond market as the ten-year government bonds are the only target for long-term investors such as insurers in the country.
Meanwhile, the tightening rules on the loan-to-deposit ratio of local banks may add upward pressures on the borrowing costs in the local funding market, experts said. Domestic banks will be asked to lower their loan-to-deposit below the maximum 100 percent level by June 2012. The financial watchdog originally planned to cut the ratio by the end of 2013.
The loan-to-deposit ratio gauges the percentage of loans against deposits. The higher reading indicates a bank extended loans more than it can raise funds. Local banks should choose between reducing their lending and increasing their deposits when they want the ratio down.
"A decrease in lending by local banks will lead local firms to pay higher interests when they need to finance operations. Banks' efforts to increase their deposits will also boost the deposit rate higher, resulting in higher borrowing costs," the bond analyst at local brokerage said.
Editor: yan
English.news.cn 2011-06-29 23:52:11 FeedbackPrintRSS
By Yoo Seungki
SEOUL, June 29 (Xinhua)
U.S. science envoy visits Uzbekistan
The U.S. science envoy, Alice Gast, visited Uzbekistan June 23-26 as part of President Barack Obama's initiative to strengthen science and education ties, the American embassy in Tashkent said in a statement Wednesday.
Gast visited the Academy of Sciences in Tashkent, where she met with a number of leaders including academy president Shavkat Salikhov.
During their meetings, the two sides discussed practical ways in which to advance bilateral scientific cooperation, including through joint workshops and other projects.
Gast noted that the U.S. and Uzbekistan have many common scientific interests and that both sides could benefit from cooperation in those areas.
Editor: yan
English.news.cn 2011-06-29 23:43:19 FeedbackPrintRSS
TASHKENT, June 29 (Xinhua)
Gast visited the Academy of Sciences in Tashkent, where she met with a number of leaders including academy president Shavkat Salikhov.
During their meetings, the two sides discussed practical ways in which to advance bilateral scientific cooperation, including through joint workshops and other projects.
Gast noted that the U.S. and Uzbekistan have many common scientific interests and that both sides could benefit from cooperation in those areas.
Editor: yan
English.news.cn 2011-06-29 23:43:19 FeedbackPrintRSS
TASHKENT, June 29 (Xinhua)
S.Korean parliament ratifies FTA pact with Peru
South Korea's National Assembly on Wednesday ratified the free trade agreement (FTA) with Peru, paving the way for further economic cooperation between the two nations.
The ratification came after the National Assembly foreign affairs and trade committee approved it on Tuesday.
The two nations launched their talks about an FTA bill in March 2008, and entered official negotiations in early 2009. The trade deal was formally signed in March this year.
South Korea's Ministry of Foreign Affairs and Trade hailed the approvement of the deal in a statement, saying it will contribute to promoting trades and investments and strengthening cooperation in resources development.
The deal, the second of its kind South Korea reached with a Latin American country, following the FTA with Chile signed in 2003, calls for the abolishment of all tariffs in trade within 10 years.
Under the pact, the two nations will respectively grant immediate duty free access for products such as South Korea-made color TV sets and Peru's coffee upon entry into force of the agreement, while tariffs on goods including Seoul's industrial commodities such as automobiles and Peru's agricultural commodities such as asparagus and bananas will be eliminated by stages over a period of 10 years. But a total of 107 agricultural and aquatic products that South Korea views as "sensitive", such as rice, beef and garlic, are excluded from the agreement.
The two nations also agreed on cooperation on energy and natural resources in the agreement, the first time for Seoul to mention such collaboration in an FTA bill.
Bilateral trade between the two nations reached 1.98 billion U. S. dollars in 2010 with South Korea's exports to the South American country reaching 944 million dollars.
Editor: yan
English.news.cn 2011-06-29 22:46:13 FeedbackPrintRSS
SEOUL, June 29 (Xinhua)
The ratification came after the National Assembly foreign affairs and trade committee approved it on Tuesday.
The two nations launched their talks about an FTA bill in March 2008, and entered official negotiations in early 2009. The trade deal was formally signed in March this year.
South Korea's Ministry of Foreign Affairs and Trade hailed the approvement of the deal in a statement, saying it will contribute to promoting trades and investments and strengthening cooperation in resources development.
The deal, the second of its kind South Korea reached with a Latin American country, following the FTA with Chile signed in 2003, calls for the abolishment of all tariffs in trade within 10 years.
Under the pact, the two nations will respectively grant immediate duty free access for products such as South Korea-made color TV sets and Peru's coffee upon entry into force of the agreement, while tariffs on goods including Seoul's industrial commodities such as automobiles and Peru's agricultural commodities such as asparagus and bananas will be eliminated by stages over a period of 10 years. But a total of 107 agricultural and aquatic products that South Korea views as "sensitive", such as rice, beef and garlic, are excluded from the agreement.
The two nations also agreed on cooperation on energy and natural resources in the agreement, the first time for Seoul to mention such collaboration in an FTA bill.
Bilateral trade between the two nations reached 1.98 billion U. S. dollars in 2010 with South Korea's exports to the South American country reaching 944 million dollars.
Editor: yan
English.news.cn 2011-06-29 22:46:13 FeedbackPrintRSS
SEOUL, June 29 (Xinhua)
Pakistan suffers 67.93 bln USD in anti-terror war
Pakistan has suffered huge losses of more than 67.93 billion U.S. dollars during last ten years since the country has joined the international coalition against terrorism in late 2001, officials data shows.
Besides economic losses, more than 35,000 citizens and 3,500 security personnel have been killed in fighting with the militants and suicide attacks and bomb blasts, according to official figures.
Pakistan launched first major offensive in Waziristan tribal region against the Taliban and al-Qaida militants, who had fled U. S. military operation in Afghanistan.
In retaliation Pakistani Taliban militants started attacks on the Pakistani security personnel first in the tribal regions and later they sneaked into cities.
The war has spread like a contagion into settled areas of Pakistan that has so far cost the country destruction of infrastructure, internal migration of millions of people from parts of northwestern Pakistan, erosion of investment climate, nose-diving of production and growing unemployment, an official document says.
Above all the terror war also brought economic activity to a virtual standstill in many part of the country.
A large portion of resources, both men and material are being consumed by this war for the last several years and the economy was subjected to enormous direct and indirect costs which continued to rise from 2.669 billion dollars in 2001-2002 to 13.6 billion dollars by 2009-2010.
The sources said as a result of war in Afghanistan the Western countries including the United States continued to impose travel ban for their citizen (investor, importers etc.) to visit Pakistan.
This affected Pakistan's exports, prevented the inflows of foreign investment, affected the pace of privatization program, reduced import demand, reduced tax collection and expenditure over- run on additional security spending.
Domestic tourism industry also suffered badly, hundreds and thousands of jobs could have been created had economic activity not slowed as well as thousands of jobs were lost because of the destruction of tourism industry.
Investment-to-GDP ratio has also nosedived from 22.5 percent in 2006-2007 to 13.4 percent in 2010-2011 with serious consequences for job creating ability of the economy.
Officials say that Pakistan needs enormous resources to enhance productive capacity of the economy. The security situation will be the key determinant of the future flow of the investment, they argue.
Editor: Yang Lina
English.news.cn 2011-06-29 21:48:14 FeedbackPrintRSS
ISLAMABAD, June 29 (Xinhua)
Besides economic losses, more than 35,000 citizens and 3,500 security personnel have been killed in fighting with the militants and suicide attacks and bomb blasts, according to official figures.
Pakistan launched first major offensive in Waziristan tribal region against the Taliban and al-Qaida militants, who had fled U. S. military operation in Afghanistan.
In retaliation Pakistani Taliban militants started attacks on the Pakistani security personnel first in the tribal regions and later they sneaked into cities.
The war has spread like a contagion into settled areas of Pakistan that has so far cost the country destruction of infrastructure, internal migration of millions of people from parts of northwestern Pakistan, erosion of investment climate, nose-diving of production and growing unemployment, an official document says.
Above all the terror war also brought economic activity to a virtual standstill in many part of the country.
A large portion of resources, both men and material are being consumed by this war for the last several years and the economy was subjected to enormous direct and indirect costs which continued to rise from 2.669 billion dollars in 2001-2002 to 13.6 billion dollars by 2009-2010.
The sources said as a result of war in Afghanistan the Western countries including the United States continued to impose travel ban for their citizen (investor, importers etc.) to visit Pakistan.
This affected Pakistan's exports, prevented the inflows of foreign investment, affected the pace of privatization program, reduced import demand, reduced tax collection and expenditure over- run on additional security spending.
Domestic tourism industry also suffered badly, hundreds and thousands of jobs could have been created had economic activity not slowed as well as thousands of jobs were lost because of the destruction of tourism industry.
Investment-to-GDP ratio has also nosedived from 22.5 percent in 2006-2007 to 13.4 percent in 2010-2011 with serious consequences for job creating ability of the economy.
Officials say that Pakistan needs enormous resources to enhance productive capacity of the economy. The security situation will be the key determinant of the future flow of the investment, they argue.
Editor: Yang Lina
English.news.cn 2011-06-29 21:48:14 FeedbackPrintRSS
ISLAMABAD, June 29 (Xinhua)
Two French journalists kidnapped in Afghanistan released
French President's office, the Elysee Palace, confirmed Wednesday the release of two French journalists kidnapped in Afghanistan.
English.news.cn 2011-06-29 21:45:50 FeedbackPrintRSS
PARIS, June 29 (Xinhua)
English.news.cn 2011-06-29 21:45:50 FeedbackPrintRSS
PARIS, June 29 (Xinhua)
Philippines ready to deal with challenges with new Saudi Arabia program for OFWs
The Philippine government said on Wednesday that it is ready to deal with the challenges and impact of the new program of Saudi Arabia, known as "Nitaqat," to the overseas Filipino workers (OFWs).
Department of Labor and Employment (DOLE) Secretary Rosalinda Baldoz said that the new Saudization program should not be a cause of undue worry for the OFWs.
"Lately, some alarm bells are being rung about the new Saudization program known as 'Nitaqat' (zones or ranges in Arabic) , but I assure our workers and our people that this is no cause for undue worry," she said.
Baldoz said she met with H.E. Adel Fakeih, Minister of Labor of Saudi Arabia, at the sidelines of the recent 100th ILO Conference in Geneva, and he did not mention in their bilateral meeting anything about hundreds of thousands of foreign workers, including OFWs, getting displaced soon in the Saudi labor market.
Quoting her counterpart, she said, "Saudi labor market remains open for millions of foreign workers that also contribute side by side with national workers in achieving our various development goals, and fill the temporary needs of the national economy in its various stages of development."
Baldoz added that some licensed recruitment agencies have reported that many large companies employing Filipinos are already 80 percent compliant with the Saudization program.
Under the Nitaqat, the Saudi Ministry of Labor will classify 300,000 Saudi companies into four categories, namely, excellent and green (complying companies) and yellow and red (non-complying companies). Each company will be required to employ a minimum number of Saudi citizens based on company size and the occupations of the company's workers.
Saudi Arabia remains as the top destination of OFWs with almost 300,000 in 2009 and one of the biggest sources of OFW remittances.
Editor: Yang Lina
English.news.cn 2011-06-29 21:19:48 FeedbackPrintRSS
MANILA, June 29 (Xinhua)
Department of Labor and Employment (DOLE) Secretary Rosalinda Baldoz said that the new Saudization program should not be a cause of undue worry for the OFWs.
"Lately, some alarm bells are being rung about the new Saudization program known as 'Nitaqat' (zones or ranges in Arabic) , but I assure our workers and our people that this is no cause for undue worry," she said.
Baldoz said she met with H.E. Adel Fakeih, Minister of Labor of Saudi Arabia, at the sidelines of the recent 100th ILO Conference in Geneva, and he did not mention in their bilateral meeting anything about hundreds of thousands of foreign workers, including OFWs, getting displaced soon in the Saudi labor market.
Quoting her counterpart, she said, "Saudi labor market remains open for millions of foreign workers that also contribute side by side with national workers in achieving our various development goals, and fill the temporary needs of the national economy in its various stages of development."
Baldoz added that some licensed recruitment agencies have reported that many large companies employing Filipinos are already 80 percent compliant with the Saudization program.
Under the Nitaqat, the Saudi Ministry of Labor will classify 300,000 Saudi companies into four categories, namely, excellent and green (complying companies) and yellow and red (non-complying companies). Each company will be required to employ a minimum number of Saudi citizens based on company size and the occupations of the company's workers.
Saudi Arabia remains as the top destination of OFWs with almost 300,000 in 2009 and one of the biggest sources of OFW remittances.
Editor: Yang Lina
English.news.cn 2011-06-29 21:19:48 FeedbackPrintRSS
MANILA, June 29 (Xinhua)
Indian PM dismisses talk of being a "lame duck"
Indian Prime Minister Manmohan Singh Wednesday met editors of several Indian newspapers as part of his new media outreach strategy.
Dismissing talk that he is a "lame duck" Prime Minister, Manmohan Singh said he has been entrusted with the job by the Congress party from which he had not heard "any contrary view."
Terming the perception that his government had gone "comatose" and was "lame duck" as clever propaganda of the Opposition "to which some sections of the media had lent ear", Singh asserted that "truth will prevail" and his performance will speak.
Singh spoke of "maximum possible cooperation" that he was getting from Congress President Sonia Gandhi whom he met one-on- one every week. He had never felt that she was an "obstacle".
"In fact, the Congress high command has always been most supportive, particularly Mrs. Gandhi. I have got maximum cooperation from Sonia Gandhi who has done a superb job as Congress president," he said.
As for the anti-corruption Lokpal Bill, he said it was essential and desirable. The country needed a strong Lokpal although it is not not a "panacea" for all ills.
He told the editors that he would try to find a way on the Lokpal issue and work for a national consensus, and the government would reach out to the civil society but no group can insist that their views "A to Z" are the last word.
As for bringing the office of the Prime Minister under the purview of the Lokpal, he said that he has no hesitation in bringing himself under it.
"I have no hesitation in bringing myself under the purview of Lokpal but many of my Cabinet colleagues feel that bringing the institution of Prime Minister under it will create instability," he said.
"We will find a way out on Lokpal and try for a consensus," he added.
Singh also said that has no objection to Nehru-Gandhi scion Rahul Gandhi succeeding him as Prime Minister, but said no such discussions were currently taking place within the ruling party.
"Personally, if you ask me, the general proposition that younger people should take over, I think, is the right sentiment. Whenever the party makes up its mind I will be very happy to step down, but so long as I am here, I have a job to do," the Prime Minister said.
Editor: Yang Lina
English.news.cn 2011-06-29 20:26:58 FeedbackPrintRSS
NEW DELHI, June 29 (Xinhua)
Dismissing talk that he is a "lame duck" Prime Minister, Manmohan Singh said he has been entrusted with the job by the Congress party from which he had not heard "any contrary view."
Terming the perception that his government had gone "comatose" and was "lame duck" as clever propaganda of the Opposition "to which some sections of the media had lent ear", Singh asserted that "truth will prevail" and his performance will speak.
Singh spoke of "maximum possible cooperation" that he was getting from Congress President Sonia Gandhi whom he met one-on- one every week. He had never felt that she was an "obstacle".
"In fact, the Congress high command has always been most supportive, particularly Mrs. Gandhi. I have got maximum cooperation from Sonia Gandhi who has done a superb job as Congress president," he said.
As for the anti-corruption Lokpal Bill, he said it was essential and desirable. The country needed a strong Lokpal although it is not not a "panacea" for all ills.
He told the editors that he would try to find a way on the Lokpal issue and work for a national consensus, and the government would reach out to the civil society but no group can insist that their views "A to Z" are the last word.
As for bringing the office of the Prime Minister under the purview of the Lokpal, he said that he has no hesitation in bringing himself under it.
"I have no hesitation in bringing myself under the purview of Lokpal but many of my Cabinet colleagues feel that bringing the institution of Prime Minister under it will create instability," he said.
"We will find a way out on Lokpal and try for a consensus," he added.
Singh also said that has no objection to Nehru-Gandhi scion Rahul Gandhi succeeding him as Prime Minister, but said no such discussions were currently taking place within the ruling party.
"Personally, if you ask me, the general proposition that younger people should take over, I think, is the right sentiment. Whenever the party makes up its mind I will be very happy to step down, but so long as I am here, I have a job to do," the Prime Minister said.
Editor: Yang Lina
English.news.cn 2011-06-29 20:26:58 FeedbackPrintRSS
NEW DELHI, June 29 (Xinhua)
ADB helps light up more Bangladesh rural areas
The Asian Development Bank (ADB) and the Bangladeshi government Wednesday signed a technical assistance grant agreement of 3.3 million U.S. dollars to provide more renewable energy in rural areas with no access to grid electricity.
The grant will provide 25 U.S. dollars subsidy per solar home systems (SHSs) to a total of 80,000 low-income end-users, said the Manila-based bank in a prepared statement.
The assistance will also promote biomass, biogas, and wind as alternative sources of energy, it said adding the grant will also help IDCOL, a fully Bangladeshi government owned company, improve its administrative and monitoring capacities.
According to the ADB, the grant assistance supplements a 33 million U.S. dollars subproject promoting renewable energy under the 165 million U.S. dollars Public-Private Infrastructure Development Facility project approved by ADB in 2008.
Asian Clean Energy Fund established by the Japanese government will provide 2 million U.S. dollars while ADB's Climate Change Fund will provide 1.30 million U.S. dollars to make the total grant amount of 3.3 million U.S. dollars.
Saifuddin Ahmed, Joint Secretary of Bangladesh's Economic Relations Division, Islam Sharif, Executive Director and Chief Executive Officer, IDCOL, and Thevakumar Kandiah, Country Director of ADB's Bangladesh Resident Mission, signed the agreements on behalf of Bangladesh, and ADB respectively, at a ceremony in captial Dhaka.
IDCOL estimates that each SHS saves at least 61.80 U.S. dollars worth of kerosene every year and reduces carbon dioxide emissions by 375 kilograms (kg) annually as a result, said the ADB statement. Therefore, it said the 80,000 new SHSs to be installed through this grant assistance will bring a reduction of about 27,600 tonnes of carbon dioxide emissions a year.
Editor: Yang Lina
English.news.cn 2011-06-29 19:22:01 FeedbackPrintRSS
DHAKA, June 29 (Xinhua)
The grant will provide 25 U.S. dollars subsidy per solar home systems (SHSs) to a total of 80,000 low-income end-users, said the Manila-based bank in a prepared statement.
The assistance will also promote biomass, biogas, and wind as alternative sources of energy, it said adding the grant will also help IDCOL, a fully Bangladeshi government owned company, improve its administrative and monitoring capacities.
According to the ADB, the grant assistance supplements a 33 million U.S. dollars subproject promoting renewable energy under the 165 million U.S. dollars Public-Private Infrastructure Development Facility project approved by ADB in 2008.
Asian Clean Energy Fund established by the Japanese government will provide 2 million U.S. dollars while ADB's Climate Change Fund will provide 1.30 million U.S. dollars to make the total grant amount of 3.3 million U.S. dollars.
Saifuddin Ahmed, Joint Secretary of Bangladesh's Economic Relations Division, Islam Sharif, Executive Director and Chief Executive Officer, IDCOL, and Thevakumar Kandiah, Country Director of ADB's Bangladesh Resident Mission, signed the agreements on behalf of Bangladesh, and ADB respectively, at a ceremony in captial Dhaka.
IDCOL estimates that each SHS saves at least 61.80 U.S. dollars worth of kerosene every year and reduces carbon dioxide emissions by 375 kilograms (kg) annually as a result, said the ADB statement. Therefore, it said the 80,000 new SHSs to be installed through this grant assistance will bring a reduction of about 27,600 tonnes of carbon dioxide emissions a year.
Editor: Yang Lina
English.news.cn 2011-06-29 19:22:01 FeedbackPrintRSS
DHAKA, June 29 (Xinhua)
Spanish citizen among 21 dead in Kabul Hotel attack
A Spanish citizen was among 21 people who were killed when a group of suicide bombers attacked the luxury Intercontinental Hotel in Kabul on Tuesday night, Interior Ministry said in a statement on Wednesday.
"The enemies of peace and stability committed another shameful crime by sending nine suicide bombers and attacking the Intercontinental Hotel in capital Kabul which left nine Afghan civilians an a Spanish citizen dead," the statement said.
According to the statement, nine suicide bombers and two policemen were also killed in explosion and gun battles lasted for more than four hours.
The statement said the attack begun at around 11:00 p.m. local time Tuesday and the operation against the attackers concluded at 03:00 a.m. local time Wednesday.
"As a result of timely reaction of Afghan National Police, Afghan National Army and Coalition forces backed by air power of the NATO-led international troops, all the nine suicide bombers were killed," said the statement.
The statement added 18 people including 13 civilians and five policemen were wounded in the incident.
"Ministry of Interior Affairs condemns in its strongest term this terrorist attack," the statement said.
Zabihullah Mujahid, who claims to speak for the Taliban outfit in talks with media via telephone from undisclosed locations, on Tuesday night claimed of responsibility, saying some Taliban fighters equipped with suicide vests and light arms stormed the Intercontinental Hotel and inflicted casualties to foreign and Afghan guests there.
The Intercontinental Hotel is one of the fortified accommodations in Afghan capital frequented by foreigners and Afghan officials.
Officials estimated that there were 60 to 70 guests staying at the hotel, located on a hilltop overlooking the capital city.
The attack comes weeks before foreign forces are expected to start withdrawal from the country. U.S. President Barack Obama announced last week a plan to withdraw 10,000 U.S. troops from Afghanistan this year.
English.news.cn 2011-06-29 19:04:24 FeedbackPrintRSS
KABUL, June 29 (Xinhua)
"The enemies of peace and stability committed another shameful crime by sending nine suicide bombers and attacking the Intercontinental Hotel in capital Kabul which left nine Afghan civilians an a Spanish citizen dead," the statement said.
According to the statement, nine suicide bombers and two policemen were also killed in explosion and gun battles lasted for more than four hours.
The statement said the attack begun at around 11:00 p.m. local time Tuesday and the operation against the attackers concluded at 03:00 a.m. local time Wednesday.
"As a result of timely reaction of Afghan National Police, Afghan National Army and Coalition forces backed by air power of the NATO-led international troops, all the nine suicide bombers were killed," said the statement.
The statement added 18 people including 13 civilians and five policemen were wounded in the incident.
"Ministry of Interior Affairs condemns in its strongest term this terrorist attack," the statement said.
Zabihullah Mujahid, who claims to speak for the Taliban outfit in talks with media via telephone from undisclosed locations, on Tuesday night claimed of responsibility, saying some Taliban fighters equipped with suicide vests and light arms stormed the Intercontinental Hotel and inflicted casualties to foreign and Afghan guests there.
The Intercontinental Hotel is one of the fortified accommodations in Afghan capital frequented by foreigners and Afghan officials.
Officials estimated that there were 60 to 70 guests staying at the hotel, located on a hilltop overlooking the capital city.
The attack comes weeks before foreign forces are expected to start withdrawal from the country. U.S. President Barack Obama announced last week a plan to withdraw 10,000 U.S. troops from Afghanistan this year.
English.news.cn 2011-06-29 19:04:24 FeedbackPrintRSS
KABUL, June 29 (Xinhua)
Death toll in S Philippine flashflood rises to 25
The number of people that died from drowning due to a flashflood that swamped some parts of southern Philippines has risen to 25, while 15 remain missing, a military official said Wednesday.
According to Maj. Jacob Thaddeus Obligado, commander of the Army's 10th Civil Military Operations Battalion, many of the fatalities are children. He said three of the fatalities are unidentified.
Obligado, whose unit is among those who responded to the calamity, said the flooding has affected about 25,000 families. Of the number, 1,475 families are staying in four evacuation centers.
Obligado said the downpour started around 10 p.m. local time and lasted for about three hours.
In a separate interview, Gretchin Cinco, deputy police spokesperson for Davao region, said the Davao city government had provided food, clothing and bedding materials to some 20,000 families in various evacuation centers in the city.
Cinco said the waters have already subsided in most of Talomo district which was badly hit by rampaging waters following several hours of heavy downpour late Tuesday.
"The waters rose to as high as ten feet, submerging homes in just minutes, leaving us residents trapped in rooftops," resident Jun Adlawan told Xinhua by phone, adding they were isolated for hours before rescuers arrived early Wednesday.
The destructive force of the floodwaters was so powerful that it swept cars, overturned parked trucks and pulled off trees, witnesses said.
The torrential rains caused Pangi and Balusong rivers to burst their banks, inundating the affected areas.
Cinco said floodwaters started to recede on Wednesday but roads from Talomo going up to the city's southern parts were still impassable to most types of vehicles.
Davao City Mayor Sara Duterte has placed the villages of Matina Pangi, Matina Crossing, Matina Aplaya and Talomo comprising Talomo district under state of calamity.
Editor: Mo Hong'e
English.news.cn 2011-06-29 18:11:44 FeedbackPrintRSS
MANILA, June 29 (Xinhua)
According to Maj. Jacob Thaddeus Obligado, commander of the Army's 10th Civil Military Operations Battalion, many of the fatalities are children. He said three of the fatalities are unidentified.
Obligado, whose unit is among those who responded to the calamity, said the flooding has affected about 25,000 families. Of the number, 1,475 families are staying in four evacuation centers.
Obligado said the downpour started around 10 p.m. local time and lasted for about three hours.
In a separate interview, Gretchin Cinco, deputy police spokesperson for Davao region, said the Davao city government had provided food, clothing and bedding materials to some 20,000 families in various evacuation centers in the city.
Cinco said the waters have already subsided in most of Talomo district which was badly hit by rampaging waters following several hours of heavy downpour late Tuesday.
"The waters rose to as high as ten feet, submerging homes in just minutes, leaving us residents trapped in rooftops," resident Jun Adlawan told Xinhua by phone, adding they were isolated for hours before rescuers arrived early Wednesday.
The destructive force of the floodwaters was so powerful that it swept cars, overturned parked trucks and pulled off trees, witnesses said.
The torrential rains caused Pangi and Balusong rivers to burst their banks, inundating the affected areas.
Cinco said floodwaters started to recede on Wednesday but roads from Talomo going up to the city's southern parts were still impassable to most types of vehicles.
Davao City Mayor Sara Duterte has placed the villages of Matina Pangi, Matina Crossing, Matina Aplaya and Talomo comprising Talomo district under state of calamity.
Editor: Mo Hong'e
English.news.cn 2011-06-29 18:11:44 FeedbackPrintRSS
MANILA, June 29 (Xinhua)
Bomb found in public vehicle in mid-western Nepal
People of Nepalgunj in mid- western Nepal have been terrified after an underground group starts planting bombs in public vehicles.
According to THT Online, people have been more terrified after police seized a bomb on Tuesday evening from a bus heading towards capital Kathmandu from Nepalgunj, some 365 km west of Kathmandu.
Police took the bus under control after getting information that the group planted the bomb in the running bus.
According to police, they found the bomb under the seat while rechecking the bus.
A bomb disposal team of Nepal Army from Imamnagar Army Barrack of Rajha in Banke district disposed the bomb Wednesday morning.
Six months ago, too, six persons were injured when an unknown group exploded bomb in a running bus at Ganapur in the district.
Badal Kha, introducing himself as chairman of armed underground janatantrik tarai madesh mukti party took the responsibility of the incident on Tuesday through telephone call to media houses.
Editor: Mo Hong'e
English.news.cn 2011-06-29 17:33:28 FeedbackPrintRSS
Bomb found in public vehicle in mid-western Nepal
KATHMANDU, June 29 (Xinhua)
According to THT Online, people have been more terrified after police seized a bomb on Tuesday evening from a bus heading towards capital Kathmandu from Nepalgunj, some 365 km west of Kathmandu.
Police took the bus under control after getting information that the group planted the bomb in the running bus.
According to police, they found the bomb under the seat while rechecking the bus.
A bomb disposal team of Nepal Army from Imamnagar Army Barrack of Rajha in Banke district disposed the bomb Wednesday morning.
Six months ago, too, six persons were injured when an unknown group exploded bomb in a running bus at Ganapur in the district.
Badal Kha, introducing himself as chairman of armed underground janatantrik tarai madesh mukti party took the responsibility of the incident on Tuesday through telephone call to media houses.
Editor: Mo Hong'e
English.news.cn 2011-06-29 17:33:28 FeedbackPrintRSS
Bomb found in public vehicle in mid-western Nepal
KATHMANDU, June 29 (Xinhua)
Over 300 New Zealand Defence Force staff to lose jobs
More than 300 New Zealand Defense Force staff will lose their jobs under a plan to cut military personnel to save money.
The 308 redundancies announced on Wednesday morning are the first phase of a plan to cut military personnel in an attempt to save about 23 million NZ dollars (18 million U.S. dollars).
The cuts include 81 officers and 227 other ranks. The hardest hit is the Army, which will lose 155 positions, followed by the Air Force (82 jobs) and the Navy (71 positions).
Staff have known for months about the changes, which involves cutting about 1,000 uniform jobs and replacing them with some 500 civilian staff.
The Defense Force says civilians cost an average of 20,000 NZ dollars less per year.
Editor: Chen Zhi
English.news.cn 2011-06-29 10:08:52 FeedbackPrintRSS
WELLINGTON, June 29 (Xinhua)
The 308 redundancies announced on Wednesday morning are the first phase of a plan to cut military personnel in an attempt to save about 23 million NZ dollars (18 million U.S. dollars).
The cuts include 81 officers and 227 other ranks. The hardest hit is the Army, which will lose 155 positions, followed by the Air Force (82 jobs) and the Navy (71 positions).
Staff have known for months about the changes, which involves cutting about 1,000 uniform jobs and replacing them with some 500 civilian staff.
The Defense Force says civilians cost an average of 20,000 NZ dollars less per year.
Editor: Chen Zhi
English.news.cn 2011-06-29 10:08:52 FeedbackPrintRSS
WELLINGTON, June 29 (Xinhua)
Korean dried seaweed recalled in Australia on iodine fears
A type of dried seaweed sold in Asian food supermarkets in Australia has been recalled after it was found to have high levels of iodine dangerous to pregnant women, local media reported on Wednesday.
Food Standards Australia New Zealand (FSANZ) has ordered the recall of Wang Dried Kelp Varech Speche, a Korean brand of the dried seaweed, according to Australian Associated Press (AAP).
It has been available in Asian grocery stores and restaurants in the Brisbane and Gold Coast areas of Queensland.
"The product contains high levels of naturally occurring iodine," FSANZ said in a statement.
"Regular consumption of these products may cause health problems in some people including pregnant and breastfeeding women."
FSANZ said consumers concerned about their health should seek medical advice and should return the products to the place of purchase for a full cash refund.
Editor: Chen Zhi
English.news.cn 2011-06-29 10:06:50 FeedbackPrintRSS
SYDNEY, June 29 (Xinhua)
Food Standards Australia New Zealand (FSANZ) has ordered the recall of Wang Dried Kelp Varech Speche, a Korean brand of the dried seaweed, according to Australian Associated Press (AAP).
It has been available in Asian grocery stores and restaurants in the Brisbane and Gold Coast areas of Queensland.
"The product contains high levels of naturally occurring iodine," FSANZ said in a statement.
"Regular consumption of these products may cause health problems in some people including pregnant and breastfeeding women."
FSANZ said consumers concerned about their health should seek medical advice and should return the products to the place of purchase for a full cash refund.
Editor: Chen Zhi
English.news.cn 2011-06-29 10:06:50 FeedbackPrintRSS
SYDNEY, June 29 (Xinhua)
13 killed in Kabul hotel attack
Seven civilians and six attackers were killed and eight others including two policemen were injured in the attack on the Intercontinental Hotel in Afghan capital Kabul, Kabul deputy police chief Daud Amin told Xinhua Wednesday.
Gunshots were clearly heard again from inside the Intercontinental Hotel which came under Taliban militants attack late Tuesday and early Wednesday.
"One attacker is still in the hotel," an Afghan intelligence officer told Xinhua on the spot.
Afghan Interior Minister Bismillah Mohammadi told reporters earlier the fight between militants and police finished in which six attackers were killed and two policemen sustained injuries.
The over night attack started at around 10:00 p.m. local time on Tuesday when some armed men stormed the Intercontinental Hotel with small arms and rocket-propelled grenades.
Exchange of fire between the militants and police lasted for hours till early Wednesday morning.
Zabihullah Mujahid, a Taliban spokesman, speaking to media by telephone from undisclosed locations, claimed responsibility for the attack, saying some Taliban fighters equipped with suicide vests and light arms stormed the Intercontinental Hotel and inflicted casualties to foreigners and Afghans there.
The Intercontinental Hotel is one of the fortified accommodations in Kabul frequented by foreigners and Afghan officials.
Officials estimated that there were 60 to 70 guests staying at the hotel, which sits on a hill overlooking the capital.
U.S. President Barack Obama announced last week a plan to withdraw some 10,000 U.S. troops from Afghanistan this year and an additional 23,000 by the end of September 2012.
English.news.cn 2011-06-29 08:45:57
KABUL, June 29 (Xinhua)
Gunshots were clearly heard again from inside the Intercontinental Hotel which came under Taliban militants attack late Tuesday and early Wednesday.
"One attacker is still in the hotel," an Afghan intelligence officer told Xinhua on the spot.
Afghan Interior Minister Bismillah Mohammadi told reporters earlier the fight between militants and police finished in which six attackers were killed and two policemen sustained injuries.
The over night attack started at around 10:00 p.m. local time on Tuesday when some armed men stormed the Intercontinental Hotel with small arms and rocket-propelled grenades.
Exchange of fire between the militants and police lasted for hours till early Wednesday morning.
Zabihullah Mujahid, a Taliban spokesman, speaking to media by telephone from undisclosed locations, claimed responsibility for the attack, saying some Taliban fighters equipped with suicide vests and light arms stormed the Intercontinental Hotel and inflicted casualties to foreigners and Afghans there.
The Intercontinental Hotel is one of the fortified accommodations in Kabul frequented by foreigners and Afghan officials.
Officials estimated that there were 60 to 70 guests staying at the hotel, which sits on a hill overlooking the capital.
U.S. President Barack Obama announced last week a plan to withdraw some 10,000 U.S. troops from Afghanistan this year and an additional 23,000 by the end of September 2012.
English.news.cn 2011-06-29 08:45:57
KABUL, June 29 (Xinhua)
Indian fiscal deficit to worsen to 5.4 pct of GDP: Standard Chartered
Indian fiscal deficit will account for 5.4 percent of GDP during this fiscal year ending March 31, 2012 from earlier projection of 5.1 percent on losses of revenue and high subsidies, said Standard Chartered Tuesday in a report.
Indian government is estimated to bear 1.2 trillion rupees of looses by state-owned oil marketing companies in current fiscal year and additional 490 billion rupees of losses cut of customs and excise duties for crude oil and refined oil products each year.
Indian government decided to reduce customs duty for crude oil to zero from 5 percent, with 2.5 percent for petroleum and diesel from 7.5 percent.
The excise tax for diesel also was lowered from 4.6 rupees per liter to 2.1 rupees per liter in a bid to relief the burden of oil marketing companies, which sell oil products at artificially low prices.
The report also expects smaller disinvestments proceeds and higher expenditure could potentially enlarge fiscal deficit to 5.8 percent of GDP, compared with governmental aim of 4.6 percent of GDP.
Indian government may have to seek other ways like sanction of coalmines or assets managed by Specified Undertakings of the Unit Trust of India.
The report predicted Indian inflation will worsen to 9.7 percent in June and 10.3 percent in July from 9.06 in May.
India's central bank Reserve Bank of India is expected to lift key interest rates by 25 basis points in the end of July with another 25 basis points of hike in August.
Indian government traditionally bends market rules and provides fat subsidies for low oil products, fertilizer and food to woo support from economically weak people.
Editor: yan
English.news.cn 2011-06-29 00:55:49 FeedbackPrintRSS
MUMBAI, June 28 (Xinhua)
Indian government is estimated to bear 1.2 trillion rupees of looses by state-owned oil marketing companies in current fiscal year and additional 490 billion rupees of losses cut of customs and excise duties for crude oil and refined oil products each year.
Indian government decided to reduce customs duty for crude oil to zero from 5 percent, with 2.5 percent for petroleum and diesel from 7.5 percent.
The excise tax for diesel also was lowered from 4.6 rupees per liter to 2.1 rupees per liter in a bid to relief the burden of oil marketing companies, which sell oil products at artificially low prices.
The report also expects smaller disinvestments proceeds and higher expenditure could potentially enlarge fiscal deficit to 5.8 percent of GDP, compared with governmental aim of 4.6 percent of GDP.
Indian government may have to seek other ways like sanction of coalmines or assets managed by Specified Undertakings of the Unit Trust of India.
The report predicted Indian inflation will worsen to 9.7 percent in June and 10.3 percent in July from 9.06 in May.
India's central bank Reserve Bank of India is expected to lift key interest rates by 25 basis points in the end of July with another 25 basis points of hike in August.
Indian government traditionally bends market rules and provides fat subsidies for low oil products, fertilizer and food to woo support from economically weak people.
Editor: yan
English.news.cn 2011-06-29 00:55:49 FeedbackPrintRSS
MUMBAI, June 28 (Xinhua)
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