Author Archives: Gunjan Priya

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OPEC lowers production as Oil Prices Increases

Organization of petroleum exporting countries OPEC ended its meeting on Wednesday without reaching agreement to increase oil production. The spokesman for the organization reported on Wednesday that their meeting ended in disarray. This is the first time the meeting of the organization has ended in disarray. The body is known to arrive to decisions based on consensus.

The spokesman for the body maintained that since the organization was unable to reach decision to raise oil production the present production level will be in force until the next meeting of the organization which will take place in about three months time. The secretary general of the 12 nation organization Al-Badri told journalists who were waiting for briefing at the end of the meeting that the meeting of the organization was deadlocked.

Already analysts are given different interpretations to the outcome of the meeting. Analysts who covered OPEC for 20 years said that this is the first time there will be sharp disagreement with the rank of the organization over policy issues. Others see it as a sign that the organization is weak and is the verge of collapse. It is believed that the outcome of the meeting will damage the image of the organization as a key player in the oil industry.

Already the market has reacted to the outcome of the meeting. The prices of oil went up in the international market.

 

 



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Greece to sell 10% Telecom share

Greece had taken the initial move on Monday to get money through the selling of govt. properties, although a premier spokesperson at the Central Bank of the European Union (ECB) debated that the country was solvent and required paying its debts.

Greece worked out a contract to sell a 10% share in the part-privatized telecom company Hellenic Telecommunications Organization S.A. usually known as OTE, to German telecom company Deutsche Telekom for approximately €400 million, or 585 million United States dollars. However, the contract was still being finalized Deutsche Telekom expressed its welcome to the contract.

Although that amount is likely to make just a little reduction in country’s overall debt of €400 billion, Mr. L. Bini Smaghi, an associate of the managerial panel of the ECB, said the country held saleable properties valued €300 billion and is solvent.

Appraisers claim that the ECB’s reliability has fallen off since its share in Greek debt results in an interesting issue.

The Greek authority has started attempting to get money through selling shares it holds in companies similar to O.T.E., but the denationalization initiative has run into intense opposition from residents already tired of strict procedures.

Deutsche Telekom currently holds OTE’s 30% share since March 2008 including the further sale of 5% of OTE’s share by the Greek state in July 2009. A top official said that the sum for the 10% share is still being worked out and would be around €400 million.

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New York court declares ex-IMF chief innocent

Dominique Strauss-Kahn, the Ex-IMF director has been declared innocent in a New York court today to accuse of raping a hotel maid. Several French are off and on appalled and enthralled as they follow the American jurisdictional trials.

As Ex-IMF director Dominique Strauss-Kahn is prosecuted today, the case of “New York’s People versus Strauss-Kahn, 1225782, Criminal Court of the New York City,” carry on to consecutively appall and enthrall the French on the distinctions among their judicial system, which highlights discretion and perhaps be more compassionate to suspect, as well as challenging American one.

All major French Television networks have covered Mr. Dominique Strauss-Kahn live. DSK was accused for raping a hotel maid of Sofitel Hotel nearby Times Square last month and has been declared innocent. Furthermore, DSK’s official team, led by Benjamin Brafman, said “No Comments” after the declaration.

From the time when Strauss-Kahn had been detained, French impulse has transformed from instant compassion for Strauss-Kahn, and incense and suspicion, to an indignant question on the French male mindsets about females and en route for a completely new independence to condemn what has always been mass media stillness about such mindsets, especially when they draw in privileged.

Although the Strauss-Kahn issue possibly will play over tables like a tale, but key concerns here are – mass media stillness for privileged, and men benefiting freedom to misbehave and to carry on spoiling in indignant behaviors.

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China meets with rebels in Libya

The government of china has made its first confirmed contact with the Libyan rebels. This is one of the latest diplomatic setbacks encountered by Moamar Gadhafi. France said that it is persuading people that are close to the Libyan leader to convince him to leave power.

Chinese diplomats and Libyan rebels met in Qatar as a result of defections to the rebel sides by notable figures in the Libyan governments. As the war in Libya intensifies the rebels and NATO had made the departure of Gadhafi as a condition for ceasefire in the country. Gadhafi has said in clear terms that he will not leave the country. He told the South African president who came on AU delegation that he will not leave Libya. NATO had this week extended its operations which were supposed to end by June 27th for another 90 days sending a warning to Gadhafi that they are not prepared to leave Libya until they have accomplished their aims in the country.

Reacting to the situation in Libya the French foreign minister Juppe said that Col Gadhafi is more isolated adding that more of his loyalists are defecting. The Chinese foreign ministry has said that the Chinese ambassador to Qatar had discussed with the Libyan rebels on ways to bring about the development of Libya.

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Serbian military official Mladic denies charges of war crime

The former Serbian army general Ratko Mladic has said that the 37 page indictment made against him was obnoxious and false. He appeared for the first day of sitting for his case on the International Criminal Tribunal for the former Yugoslavia yesterday. One of the charges read that he was responsible for the massacre of 8000 Muslims including boys and girls in September of 1995.

The aggressive former general told the court that he did not want to hear any word on the indictment of the 37 page charges that was read to him. The presiding judge Alphorns Orie tried to read a shorter version of the charges to the ex general who said that he is not bothered to go through any of these charges.

His lawyer argued that the ex general is not healthy enough to stand trial adding that he is suffering from terminal cancer. At the end the former army chief said that the charges are monstrous and that he has nothing to do with those offences, he said that he did not understand any of the charges.

He said that he did his job, that he did not kill Muslims or Croats. He said that he defended his country and his people adding that he is now defending himself.

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Japanese premier offers to quit

The prime minister of Japan Mr. Naoto Kan has offered to resign as the prime minister of the country.

This is coming after he has managed to survive a no confidence vote tabled by the opposition against his government. If that happens then Japan would made history of having six prime ministers in five years.

Although the prime minister has not said the exact time he will quit but it will put end to the plan by the opposition to force an early election in the country.

If he quits as the leader of the Democratic Party of Japan the party would elect a new leader who will become the next prime minister of the country. The no confidence vote would have plunged the country into political turmoil. There is unease in the country over the poor manner the government of Kan managed the nuclear disaster in the country.

If the no confidence vote had sailed through the parliament a new election would have been forced to the country. Already key members of the Democratic Party of Japan are jostling for the prom job.

The former foreign minister of the country katsuya Okada and Yukio Edano are positioning themselves to emerge as the leader of the Democratic Party and form the next government when the prime minister resigns.

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Canada supports NATO attacks against Libyan government

The ambassadors of NATO countries which is fighting the Moamar Gadhafi government is Libya have agreed to extend their operations in Libya for another 90 days. The secretary general of NATO Anders Rough Rasmussen said this on Wednesday. He said that they are sending a clear signal to Gadhafi that NATO will continue to stay in the country to protect the citizens of Libya.

NATO took charge of the battle in March to protect Libyans who were caught up in the battle. The initial duration of the campaign for the 90 days was expected to elapse on June 27th. Rasmussen said that they want to send a message to the Libyan people that the alliance is solidly behind them.

It would be recalled that the Canadian Prime Minister Stephen Harper has said that it would require the approval of the parliament for the extension of their operations in Libya.

He said that the government will consult with the opposition to ensure that there is unanimity of decision as regarding the force extension in Libya. He said that the liberal will move a motion in the parliament and it has to sail through before the government will send troops for NATO operations.

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Tribal rebellions speed up fight to overthrow Yemen President

The battle to remove the Yemeni President Mr. Saleh has intensified with the main group pushing for the removal fighting to enter to the capital Sanaa.

On Thursday there was an intense fighting between the Yemeni military and the tribesmen who are loyal to the Sadeg al-Ahmar at the outskirt of the capital Sanaa. Hundreds of tribesmen were seen making their way through the capital. They were waged at Hasaba which is a neighborhood of Sanaa by Yemeni security forces. Already Hasaba is subjected to intense bombardment by the Yemeni military. There is report of high causality in the battle, it is reported that dozens of people were killed.

The battle was brought nearer to the Yemen airport and the tribesmen were reported pushing their way towards the capital. The battle is gradually spreading across the other parts of the country. In Taiz which is located in the southern part of the country, soldiers fighting for the government had opened fire on peaceful protesters who were calling for an end to the government of President Ali Abdullah Saleh.

The protest in Taiz had been on for some few days now and it is reported that at least 25 people have lost their lives as a result of the attack by the soldiers.

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President Assad fails to check unrest in Syria

There seems to be no end to the crisis in Syria as protest has increased despite the heavy crackdown by the government. The protests in the country have entered the third month and the government could not quell the uprising in the country. The human casualties of the crisis have continued to increase. The number of casualties always increases on Fridays because protesters are normally joined by worshipers after the Friday prayers. Last Friday 12 people were reported to have died, this number is lower than the figures of casualties that are reported on Fridays. However the intensity of the protests is increasing.

It was reported that the Syrian army has carried out an attack on two tribal towns Telbiseh and Rastan. The two towns were close to the town of Homs. The soldiers used tank to shell Rastan. More than 40 people have already lost their lives as a result of the attack. There were several arrests made in that city by the soldiers. The road leading to Alepo the second largest city in Syria was closed also communication was cut off.

The unrest is now spreading to the entire country which means that all the strategies put forward by the government is not working. Instead of abetting the protest it is fuelling it.

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Syrian military raid kills two children, 40 people in Homs

At least 42 people two of whom were children were killed Wednesday when the Syrian military raided city of Homs as part of the campaign by President Assad to quell the three months uprising in his country demanding he steps down from power.

The latest casualty list was released by human rights group in the country.
The government used tanks against the civilian population living in the city of Talbiseh, Al-Rastan and Teir maalar where there was heavy demonstration against the government last weekend. So far the casualties in those towns invaded by the military last weekend is not yet known but there is a report that the government has arrested large number of people around the neighborhood where the civil unrest took place.

Soldiers have invaded the town of Homs and there is heavy fighting going on in the city. In the town of Hajar al-Khateeb at least 10 people were killed when the army opened fire on school bus that was carrying school children from the town of Hajar al- Rastan to Homs. Also 4 people were killed when Syrian soldiers invaded a home in Al-Rastan.

The Syrian state owned television reported that about three soldiers have so far lost their lives in the operation. The figure could be much more than that.