Author Archives: Gunjan Priya

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U.S. Economy Slow Down over Europe Debts

The US economy seemed to be slowed down by the increasing debt burden in Europe. This is reflected in the performance of the US stocks which has its worst outing in a month. This is as a result of the deadlocked US budget talk with countries in Europe.

It is not only in America that the problem of debt as affected the economy, even in the Asian continent the central bank of countries in Asia are worried over the same problem. There seemed to be another threat to the global economy. The threat is the euro debts which may spread to other parts of the world.

The situation has made some central bank executives to review some of their monetary policies. In Japan the central bank is holding on some of the key financial decisions to make for economic growth and change.

Some countries in Asia performed well such as Indonesia where JKSE performed well; it is regarded as the best stock performer in Europe for the year. The performance is about 8 percent. This development has led the country to reconsider some of its economic policies and may keep it so for a month. The annual rate of inflation in the country has reduced for the year.

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U.N. Approves Peacekeepers for South Sudan

The United Nations Security Council has approved a peace keeping force of 7000 soldiers for the newly independent state of South Sudan. The approval was given on Friday.

This is a signal that the UN will support the new state which became independent on 9th of July. The peacekeepers will act under the mandate that is called UNMISS. There is also the provision for more 900 police officers for South Sudan. This was revealed by Ambassador Peter Wittig who is representing Germany in UN and doubles as the president of the council.

Wittig told journalists that UN was doing that to address the security challenges that will be faced by the people of South Sudan. This development is contrary to the stand of Khartoum which said that it is opposed to such forces in Sudanese soil.

The UN is concerned with what might happen to the border state of Kordofanian where the North Sudanese army is engage in gun battle with a group that is loyal to South Sudan. The initial assignment of the UNMISS was supposed to end on Saturday, UN started its mandate in South in 2005 when the civil war ended, but with the renewed mandate the forces will continue to stay in South Sudan.

 

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Euro Down With Debt Problem Worsening

The debt worries in Europe have affected the performance of the euro. The currency was down to one of the worst levels in the month. The fall of euro came shortly the new IMF Managing Director Christine Lagarde confirmed that they were not ready for the second Greece bail out. European stock also crashed over the fear that the crisis is going to extend to other countries within the euro zone.

There are worries over the debt crisis which originated in Greece which other investors believe that it will spread to other countries within the currency zone. This made other currencies to gain at the expense of the euro such as the US dollar and the Japanese Yen.

It was in a bid to avoid getting to the type of Greek crisis that finance ministers of Italy, Spain, Ireland and Portugal agreed to offer cheap loans to investors. They said the new measures as regards the modalities are in the offing and that they are likely to be announced later. The euro has being at the receiving end of the problems that have engulfed the euro zone. That is why the euro has being down to other currencies for two weeks running now.

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Obama Appoints Expert as Fossil Energy Head

President Barack Obama of United States of America has made some changes in the energy department with the appointment of chief operating officer to act as the assistant secretary. This was announced by White House last Friday.

The nominee Charles McConnell has being with the energy department for about one year after being in charge of carbon management for about 2 years. Before he will assume office he will need to be confirmed by the senate.

The nominee has experiences in fossil energy having spent 31 years at Praxair Inc one of the biggest gas company in North America. He has also served in different capacities in the past as regards to energy.

The nomination is seen as one of the bold steps by the administration to tackle the issue of green energy which the Obama administration is strongly committed to. The role of the nominee will be among other things to source alternative reserves for oil. The office will help the country have access to clean energy that will be cheap. This will be better than the traditional gases and fuels. It will also closely monitor the performances of the federal emergency oil stockpiles and transform the coal energy to make it cleaner and refined.

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Jakarta Gained iDevelopment of Global Concert circuit

Kylie Minogue performed at Jakarta the capital of Indonesia where thousands of enthusiastic fans clapped and cheered as they performed. Nobody would have expected such a development in a Muslim country like Indonesia which presently has the largest concentration of world Muslim population. The sale of ticket was high and yet many people took time to participate in the show.

The scene of the activity has in about a month featured such artistes as Janet Jackson, Justin Bieber and Bruno Mars. Not only that the people of the country are expecting other stage performers such as Lady Gaga, Linkin Park and Cranberries to make it to that country.

The fact that events like that is taking place in Islamic country is a positive sign that the young population of the country is eager to spend their money to get entertained. Indonesia is a great place in Asia where the artists market can thrive partly because they have the population or the market and because the young population likes that.

The people are not complaining about the amount they spent to watch the artiste on stage which is more than the average monthly wage of certain classes of people. Many young people in Indonesia are crazy about music.

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Libya rebels move to Tripoli at two fronts

The rebels in Libya that is opposed to the government of Col Moamar Gadhafi have gained control of village within a prominent mountain in the country therefore extending their grip of the western part of the country.

The battle for the control of the village raged for several hours before the government soldiers gave up. The captured village is strategic to its push to the capital Tripoli. At the end of the battle the rebels arrested some soldiers loyal to Gadhafi and captured some equipment and ammunition abandoned by the soldiers when they freeing from the rebels.

The rebels were also reported to have made significant progress in the eastern part of the country where they are reported to be advancing to Tripoli through Zlitan. This development is a morale booster to the rebels who had fighting to find its feet in the battle. It is expected that with the breakthrough the rebels have now gotten a lead to the capital Tripoli.

The capture of Qawalish does not in any way suggest that the rebels are getting nearer to the capital Tripoli. It is only a significant movement from western part of the country. There are other strategic towns which the rebels must counter for them to enter to the capital through the western axis.

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Chinese Government against US Meeting Dalai Lama

Chinese ministry of foreign affairs has warned US officials from visiting the exiled leader Dalai Lama advising that the US should approach the issues related to Tibet appropriately. Chinese government is opposed to the Dalai Lama on the account that he was using force to create the state of Tibet.

The Nobel Prize Award winning religious leader had denied the accusation from Chinese government maintaining that he was only interested in securing autonomy for the remote region.

The religious leader is visiting the United States of America and he is billed to address the public on Saturday on US. Already the government of the United States of America has said that the religious leader has met with US Undersecretary of State in charge of Democracy and Global Affairs Mario Otero. However the statement did not indicate whether the visiting religious leader will meet other higher officers of the administration.

The visiting religious leader has met with some key congressional leaders including House Speaker John Boehner as well as the former speaker and Democratic leader in the House Nancy Pelosi. Chinese Foreign Ministry has warned that the position of the Chinese government on the issue was clear. Chinese position was made known by the foreign ministry spokesperson Hong Lei.

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Britain reduces troops from Afghanistan

The prime minister of Britain Mr. David has told parliament that the number of British soldiers serving in Afghanistan would be reduced. The number of soldiers who leave the operations in Afghanistan is about 500 soldiers. What that means is that at the end of next year large number of British soldiers would leave operations in Afghanistan.

There are implications to the security situation in Afghanistan when British soldiers eventually depart the country. British soldiers are involved in maintaining internal securities in the country. There is enormous work that needs to be done to instill discipline among the afghani soldiers. They are yet to imbibe the true spirit of professionalism in their services which the British forces in the country are known for.

The prime minister hinges the decision of his government on the ground that things are better in Afghanistan. He said the level of security threat posed to Britain by instability in Afghanistan/Pakistan is now reduced. He said that the number of soldiers and police forces trained for the afghani people will improve by October this year. The prime minister said that the death of Osama Bin Laden had not helped the course of Taliban in Afghanistan.

It would be recalled that President Obama had announced the withdrawal of some American soldiers from Afghanistan. There is concern in some quarters about the level of professionalism of Afghani soldiers.

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Greek legislatures allow austerity plan

The Greek parliament on Wednesday voted in favour of austerity measures. This paves the way for the international lenders to starve off default. At the end of the voting this was called by the socialist prime minister of Greece George Papandreou, the proponents of the austerity won by a simple majority vote of 155 to 138 votes. The issue of austerity measure was a contentious issue in the country.

Stock market had started reacting positively to the development. Earlier in the day stock markets have started rallying in anticipation that the Greek parliament will approve the austerity plan. After the approval has been made the stock markets started to rally higher both in Europe and Asia. This development was a big relief to the international community because if the measure had failed it would have caused negative ripple effects to the international financial system.

Before the voting started there was a sharp disagreement between the prime minister and the leader of the opposition party Mr. Samaras; the opposition leader accusing the prime minister of letting the country down. The prime minister had blamed the opposition political party for the problem of the economy saying the problem started when the opposition party was in government. He also blamed the European Union for the problem of the country for their inability to call the previous government in the country to order when they were presenting inaccurate data.

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Libyan rebels rejoice over Gadhafi’s arrest warrant

Benghazi the second largest city in Libya was full of celebrations as the rebels fired on the air to express their joy over the indictment and warrant of arrest issued on embattled Libyan leader Col Moamar Gadhafi by the International Criminal Court.

ICC in The Hague had issued warrant of arrest on Col Moamar Gadhafi, his son as well as the leader of intelligent groups in Libya for the crimes against humanity that was reveled against them during the early days of the struggle to remove Gadhafi from power.

 

As the rebels are celebrating over the development, the government of Libya under Gadhafi reacted angrily to the warrant that was issued. The people opposed to Gadhafi took to the street to celebrate the development. The Libyan government dismissed the warrant saying the court that is based in The Hague has no power to arrest Gadhafi maintaining that the court has no legal status in Libya.

 

Those who are opposed to Gadhafi have welcomed the development saying that this will make many of the people who are still supporting him to abandon him. The International Criminal court sitting in Hague had on Monday indicted Col Moamar Gadhafi and his son Seif al- Islam as well as Abdullah al-Sanoussi the chief intelligent officer in Libya. The court ruled that the three should stand trial for crimes against humanity. The crimes listed for the three include killing and persecution of civilians. The Libyan government described the court as a tool of the west.