Category Archives: Breaking News

Breaking news and latest news updates

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Rescue personnel team up to save earthquake survivors in New Zealand

The earthquake of 6.3 magnitude at Richter Scale completely devastated Christchurch, killing approximately 75 people as per record whereas more than 300 people are still missing.

This is being considered as country’s most devastating earthquake in last 80 years of seismic phenomena.

Christchurch was the nearest point to the epicenter of the earthquake that occurred on Wednesday, and hence is the worst affected area. People are trapped in the high hills of debris and messaging through their cell phones for help.

The earthquake occurred in the middle of drizzling rain and left no choice for people who left their shelters after the tremor.

John Key, New Zealand’s prime minister revealed during a press conference that around 55 people were identified so far among those killed in the quake. He declared emergency and called on government officials to respond quickly to the national crisis.

The rescue team worked hard with floodlights to locate survivors and dead people trapped in the debris of buildings with the help of dogs and sent the injured people to hospitals

There were still many of people trapped under dozens of buildings, suspected a police official.

Pyne Gould Guinness Building alone had more than 22 people suspected to be trapped under its rubble Authorities said 22 people had been rescued from the Eight people were rescued from the debris of the Canterbury television building while many were still trapped.

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Protesters demand conciliation from Wisconsin Governor

The public unrest does not seem to settle down in Wisconsin. People take on streets demonstrating in the city despite the administrative system coming to a halt. The protests have been continued for last 7 days against Gov. Scott Walker’s plan for raising public employee’s contributions to healthcare and pension. The plan also includes removal of their bargaining rights.

Democrat senators escaped the protests while continuing the legislative procedure to stop voting over the controversial bill.

Bad weather and snowfall forced most of the protestors to remain under shades however; hundreds of them remained unaffected and continues to protest ar at the Capitol rotunda.

People jam-packed themselves the rails to sought slogans against Gov. Walker and his bill for budget-repairing.

The government employees– healthcare workers, the state’s teachers, and others stated that they were ready to provide the financial concessions to the governor but were against the so called union busting proposals, which they loathed.

The strikes are affecting day to day life in the state as teachers and health workers are not returning to work taking medical leaves. Parents of school going children are very worried for students’ studies and said that the Governor’s plan will do no good for any one.

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Yemen Protests – Three killed, 76 injured in clashes

Clashes between anti and pro government demonstrators resulted in the loss of lives of three anti government protestors and injuries to 76 demonstrators.

Anti government demonstrators took to the street much like Egypt and Tunisia. They shouted for economic and political reform. The ouster of President Abdullah Saleh was a part of the demand.

The 10,000 strong crowd of anti government protestors in the city of Tiaz were attacked by 8000 pro government demonstrators resulting in the loss of two lives and injuries. Yemeni soldiers had a tough time in dispersing the protestors. It took two hours for 5000 soldiers to disperse the protestors in Tiaz.

It is reported that the government supporters hurled a bomb on anti government demonstrators in Tiaz killing two of them. The other death resulted in Aden when an anti government demonstrator was shot down. Pro government demonstrators are armed with batons, rocks and knives.

The poor African nation is being torn apart by a Shiite movement in the north, a separatist movement in the south and growing terrorism across the country.

President Saleh who has been in power for 30 years refuses to step down. But his offer to have a national dialog on issues has been accepted by the opposition.

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Democrats fail to reduce entitlement program expenditure

Republicans simply stuck to criticizing Obama and the Democrats for their failure to curb federal spending on entitlement programs without offering any cuts from their sides. They are not revealing as of now what they are going to put forward in their budget plans for 2012.

President Obama has asked for adult conversation on this issue. He is of the view that the Democrat government has been able to pass the healthcare legislation even in the face of stiff Republican opposition. The bill would reduce debt by $250 billion in the next 10 years. But the effort to cut spending on entitlement programs would require both the parties to come together.

Obama is hopeful that they can handle the issue of Social Security the same way Ronald Reagan and Tip O’ Neill had done it. For this the opposing parties have to come together and make modest changes, he opines.

Democrats are working on the suggestion made by the bipartisan panel that made suggestions to cut Medicare, Medicaid and Social Security to reduce debt. USA debt stands at 62 percent of the GDP in 2010 in contrast to one third of the GDP. In 2020 debt will reach to 90 percent of GDP and by 2025 the entire tax revenues will be used to fund Medicare, Medicaid and Social Security.

Henry J. Aaron, a senior fellow at the Brookings Institution, is of the opinion that other programs such as food stamps, housing vouchers and disability payments that only further inflate the problem, also need to be taken in to account to address the issue. This will be a tough task as legislators have to keep their pledge of not raising taxes but they have to cut deficit deeply.

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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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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.