Author Archives: Gunjan Priya

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Global oil prices fell following Mubarak’s resignation in Egypt

There was a high surge in World stocks soon after the resignation of Egyptian President Hosni Mubarak as oil prices fell abruptly. This was probably due to fear among investors about coming political chaos in the Middle East.

U.S. stocks took a defensive approach by closing out gains of second week,

Ralph Preston, an analyst stated that there is a scope of global economic expansion as fear of violent transition of power has disappeared from Egypt. There is no such risk in Egyptian market for the investors now.

Egypt Index ETF <EGPT.P for Market Vectors climbed up from 4.5 percent to a record level of $18.60.

Despite the optimistic rise, the U.S. dollar kept on getting stronger with the government debt as the question of swift of power is still dwindling over Egypt that is likely to stir all oil-producing nations in the Middle East region.

The U.S. economic is improving every day with the strengthening of dollar.

commodity prices were expected to increase  and this could adversely affect the dollar.

DXY, The U.S. Dollar Index, received a hike of 0.23 percent at 78.432, whereas the euro EUR= dipped by 0.35 percent at $1.3593.

Egyptian President Mubarak finally gave up after a long mass protests by the opposition groups for 18 days. With this, his 30-years autocracy on Egypt ended paving way for democracy in the country.

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Iran hails Egyptian mass protests against Hosni Mubarak

Iran’s president Ahmadinejad  calls Egyptians uprising against President Hosni Mubarak as a new serge of Islamic Middle East is emerging. He further stated that this new change will have no contribution or interference of the United States or Israel.

Ahmadinejad gave this statement while addressing Iranian people on the occasion of the 32nd anniversary of its 1979 Islamic Revolution.

The Iranian leader showed his apathy at a time when entire Egypt is facing a political crisis. Egyptian President has appointed his deputy to take authority but refused to resign despite being pressurized by global community. The pressure began following a continuous mass protest by thousands of his opponents for more than 17 days demanding Mubarak’s resignation.

Thousands of Iranians have marched to protest in support of Egyptian people demanding Hosni Mubarak’s ouster. Many effigies of Hosni Mubarak were also set ablaze in Iran.

Iranian media too supported the cause of Egyptian people showing live footage of mass protests in Cairo at Tahir Square.

Iran itself is not in harmony with the international community due to its disputed nuclear program. Still, it hails mass uprisings in Tunisia and Egypt by calling them a ‘replay of its own Islamic Revolution.’

Ahmadinejad also stated that the new Middle East would grow without any interference from US and Zionist regime.

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Egyptian president Mubarak resists global pressure to step down

Despite international pressure to step down, the Egyptian President Hosni Mubarak is not ready to give up so easily. Following the huge mass protests by the opposition groups and violent clashes between supporters and opponents of the president, the United States and many other countries are urging Mubarak to settle for surrendering and not fighting next elections.

In stead of resigning, Mubarak has reshuffled his cabinet recently and appointed Intelligence Chief Omar Suleiman as deputy president to show that he was not affected by the chaos. The Egyptian president still holds control over military with the help of which, he is trying to suppress protestors. Thousands of opposition members have been arrested for demonstrating against Mubarak to restore normal situation in Cairo. The president has also imposed emergency law in the country.

The United States is continuously trying to persuade Mubarak to step down and allow immediate political change after 30-year one man rule. However, Hosni Mubarak has warned against attempt to enforce swift changes in Cairo’s politics and stated that it might lead to chaos in the country.

The United States is perplexed in its own dilemma. The White House has always been a supporter of Egypt and facilitated it with billions of aid assistance. The recent change in its stand against President Mubarak has made the future of US-Egypt relations quite uncertain. This might also be taken as a warning notion for all the autocratic rulers in the Middle East.

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Saudi Arabia threatens US to support Hosni Mubarak

Egypt’s outgoing ruler Hosni Mubarak has some new corners of sympathy in Saudi Arabia against the humiliation by US President Barack Obama. Saudi has warned the United States not to enforce a hurried change of ruler in Egypt failing to which it might stand in support of President Mubarak. According to a report, Egyptian military has imprisoned thousands of Opposition members since the mass demonstration against Mubarak began a few weeks ago.

Despite many threatening from the government, the protestors have continued their demonstrations for more than 16 days so far.

According to the report, Obama had a telephonic conversation on 29 January with King Abdullah of Saudi Arabia, who warned the US against insulting Mubarak. Abdullah further stated that he would give financial support to Egypt in case the United States steps back to withdraw its $1.5 billion aid.

Despite being the closet friend of the United States in the Gulf region, Saudi is not happy with the way Obama is treating with Mubarak and urged the former to allow a peaceful transition in Egypt. The Saudi King is very close to Hosni Mubarak and he is hurt with the way the Egyptian president is being forced to step down.

Saudi concerns for Mubarak makes it quite clear how the United States has spoiled its diplomatic relation with the nation since 1973 oil crisis.

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WikiLeaks chief Assange likely to face prejudice in Sweden

The famous media person and WikiLeaks founder Julian Assange, who had put the American administration on its toes by disclosing military’s confidential documents is likely to face bias as the prosecutor against him has a malicious opinion about men.

Assange is face charges of rape and sexual assault. A senior Swedish judge stated during Assange’s hearing in Sweden that his prosecutor, Marianne Ny was a malicious radical feminist and might want Assange to suffer even if he was not proven guilty.

It was a two day hearing at Belmarsh magistrates court when, Brita Sundberg-Weitman, the retired judge, biased view against men.

The former judge stated that the prosecutor’s attitude might be the sole reason behind putting charges over Julian Assange and the entire trial just in order to make him suffer during the hearings.

Sweden has asked for the WikiLeaks’ chief Assange’s extradition over allegations of rape and sexual assault committed by him in August. However, Assange and his advocate denied all these charges.

The chief magistrate Judge Howard Riddle is hearing the further part of the case against Julian Assange.

Robertson, who is acting on behalf of Assange, stated that Ny and Claes Borgström, the lawyer, who were representing the two women whom Assange is believed to have assaulted, were politically motivated. In fact Ny had also spoken openly about Assnage confirming the charges whereas the accused of sex offenders are kept anonymous in Sweden unless the charges are proven.

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US to remove Sudan from terrorism sponsoring states’ list

US President indicates possibilities of removing Sudan from terrorism sponsoring states’ list. Barack Obama stated that if Sudan fulfills the requirements of being recognized as a country against terrorism and accepts South Sudan as an independent nation, it would become a clean country without label of states sponsoring terrorism.

Omar al-Bashir, Sudanese President stated that he had acknowledged Southern Sudan’s demand for independence. However it is likely to create another blow on peace of the entire African region.

The United States gave a clear indication of prospects of removing Sudan’s name from the notorious list. The statement of President Obama and US Secretary of State Hillary Clinton came in the wake of January referendum’s results in South Sudan. The results express Southern Sudanese people’s desire to be independent.

The US will also recognize Southern Sudan as a sovereign nation and this would facilitate Khartoum government with a chance to improve its image in the global community.

Obama also expressed hopes for better bilateral relations with Khartoum government and the new state-Southern Sudan and for their development.

Sudan President Omar al-Bashir has finally agreed to accept Southern Sudan’s independence seeing it as an unavoidable situation. He congratulated Southern Sudanese for voting to form a new nation.

Sudan has been mentioned in the US terrorism list with other three states Iran, Syria and Cuba.

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President Obama calls on US firms to enhance employment

US President Barack Obama offers to business firms to support on creating new jobs. Obama urged the firms while addressing the US Chamber of Commerce on Monday.

He stated that he would support the big business giants in terms of reducing tax burdens and liberalize rules provided they create more jobs for the US citizens.

He appealed to the groups for investing more for new innovations and gear up the shaken economy.

Obama also pledged to revive the increased and permanent federal tax credit for the purpose of research and development, that would benefit Massachusetts and its academic and research institutions.

Bay State business groups appreciated President’s focus on tax credits and the executive vice president of the Greater Boston Chamber of Commerce, Jim Klocke stated that it would benefit  in the growth of business like biotechnology.

Obama quoted Kennedy to inspire businessmen to help the US government in making the future of people.

He revealed that he had no problem in removing restrictions or revising them however he emphasized on their necessity. Obama also repeated his unshakable stand for the Healthcare law and national insurance plan, though it was opposed by the US chamber of Commerce.

Obama’s address at US chamber is regarded as the most influential reflux of his new strategy toward corporate sectors and willingness to support them.

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Egyptian president refuses to surrender despite mounting pressure

Washington —Hosni Mubarak, the president of Egypt remains in power despite huge mass protests and international condemnation. Conducting a meeting of his new government’s economic team, he shows that he is indifferent toward all this chaos and has no intention of surrendering after ruling Egypt for a continuous 30 years period.

Hosni Mubarak’s firm faith in him for being the only person to keep Egypt safe and stable keeps him going despite the crisis in the entire nation. The opposition and its supporters have come down to streets in tens of thousands in number protesting against Mubarak and demanding for his resignation has not even moved him a bit. In stead of

Responding to the global call, he called it a betrayal when his former allies from West started pressurizing Mubarak to resign.

Mubarak’s announcement in a news conference on Friday about not standing in the next elections has been taken overwhelming positive by the United States.

Mr. Mubarak has declared Omar Suleiman as vice president recently. Despite his trial to negotiate with Mubarak, US President Obama failed to convince him to step down.

Mr. Mubarak, who is 82 years old now had faced three wars during his 30 years in power and many attempts of assassination. He also survived an Islamic uprising and many of his supporters believed that Mubarak had successfully retained peace in Egypt for last 30 years.

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US Senate to reduce House budget

Republicans reduced a major part of the budget on Thursday. Jacob Lew, White House Budget Director met Democrats senators to renovate the Presidential debt report commission.

The GOP’s determined goal is to cut foreign aid and domestic expenditure to 2008 levels, however it was acknowledged by the leaders$32 billion was added to the previous expenditure in 2010 after adding new defense spending.

The reduction of 9% in the annual spending would hamper the functions of the transportation, housing, the State Department, education as well as health-related programs. However, many conservatives regard it a useless budget as the small amount of money would lead dysfunction of many sectors and failure to meet the set targets.

Those restrictions add momentum to a dual party move in the Senate to produce a 10 year scarcity decrease initiative. Senate associates of House Speaker John Boehner, a republican from Ohio have negotiated over this, and the aim is to portray enough prowess to get the speaker and the President of the United States Barack Obama to come to discuss.

Sen. Lamar Alexander (R-Tenn.), who presides over the conference of the Senate GOP, hosted a series of restricted party discussions describes as “sad.” “This is way above politics,”

“Senate Majority Whip Dick Durbin (D-Ill.) considered it a positive move Lew, Senate Budget Committee Chairman Kent Conrad (D-N.D.) was overwhelmed with the move and stated that this was the time to come in action.

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Palin analyzes political situation in Egypt

Sarah Palin has put forward her opinions as regards the political situation in Egypt, accusing the presidency of President Obama and raising her disturbed interests over the issue.

The former Alaskan governor said Saturday in a media chat that the White House wasn’t trying its best to create enough publicity in America about the recent happenings in Egypt.

Palin said the Obama Presidency should be in touch with what is happening in Egypt and also not support a country led by an Islamic faction.

She did not give any advice as to how it should be gone about but she only claimed that a good mind is needed in this stressful situation.

Her opinion is the same as for other 2012 presidential aspirants- John Bolton and Newt Gingrich.

She said she would never change from being who she has always been- unconcerned about what is said about her and that if she makes her presidential ambition she would still be unchanged.

In response to the question asked on her decision not to go to the CPAC’s annual program in Washington, she made reference to the Conservative Political Action Conference’s decision to bring in a selection of pro-gay Republicans saying should the conservatives not have the option of engaging in public discourses or extending their influence to others, which she wouldn’t agree to.