Wednesday, September 26, 2012

Spain to seek bailout if yields too high for too long

Spain to seek bailout if yields too high for too long

Spain to seek bailout if yields too high for too long

Posted: 26 Sep 2012 01:05 AM PDT

Spain's Prime Minister Mariano Rajoy addresses the 67th session of the United Nations General Assembly at UN headquarters in New YorkMADRID (Reuters) - Spain's Prime Minister Mariano Rajoy on Wednesday said he was ready to seek a new rescue package for his troubled country but only if its debt financing costs remain too high for too long. Investors have been jittery that Spain's apparent reluctance to seek a bailout - a condition for European Central Bank action to cut the country's borrowing costs - could propel the euro zone into even deeper trouble. ...

Greek government faces first big anti-austerity strike

Posted: 26 Sep 2012 12:41 AM PDT

Commuter stands in front of a closed suburban railway station at Athens' Eleftherios Venizelos airport during a 24-hour strike in AthensATHENS (Reuters) - Flights and trains were suspended, shops pulled down their shutters and hospitals worked on emergency staff on Wednesday in Greece's first big anti-austerity strike since a coalition government took power in June. Called by the country's two biggest unions representing half the four-million-strong work force, the walkout is expected to bring out thousands of Greeks to the streets to protest at a new round of belt-tightening demanded by EU and IMF lenders. "The new measures are unbearable, unfair and only worsen the crisis. ...

China, Japan stand their ground in islands row, but keep talking

Posted: 25 Sep 2012 11:31 PM PDT

An aerial view shows Japan Coast Guard patrol ship and Taiwan's Coast Guard vessel spraying water at each other near the disputed islands in the East China SeaBEIJING/TOKYO (Reuters) - China claimed islands at the core of a row with Japan as its "sacred territory" in talks between the two countries' foreign ministers, Xinhua news agency said on Wednesday, as neither side showed any sign of backing down in a long-festering feud. Japanese Foreign Minister Koichiro Gemba urged China to exercise restraint at what he called a tense hour-long meeting over the dispute, which triggered violent anti-Japanese protests in China this month and is threatening ties between Asia's two biggest economies, Japan's Kyodo news agency said. ...

Maldives court orders "island arrest" for ousted president

Posted: 26 Sep 2012 12:48 AM PDT

A journalist films with his iPad as Maldives' former President Nasheed addresses a news conference in MaleMALE (Reuters) - A court on the Maldives put former president Mohamed Nasheed on island arrest on Wednesday, meaning he has to seek permission before leaving the capital Male, a move likely to anger supporters protesting his removal from office in February. Nasheed faces trial charged with abducting a Criminal Court judge during his final days in office in the luxury Indian Ocean resort islands. Nasheed says he was forced from power at gunpoint after opposition protests and a police mutiny. ...

Japan opposition gives ex-PM Abe second chance amid China feud

Posted: 26 Sep 2012 12:18 AM PDT

Japan's main opposition Liberal Democratic Party's lawmaker and former prime minister Shinzo Abe bows to parliamentarians of the LDP after he was chosen as the party president at the party presidential election in TokyoTOKYO (Reuters) - Japan's main opposition party picked former prime minister and security hawk Shinzo Abe as its new leader, giving him another shot at the premiership and possibly alarming Beijing and Seoul, both locked in territorial disputes with Tokyo. Opinion polls suggest that the conservative Liberal Democratic Party (LDP), ousted in 2009 after more than 50 years of almost non-stop rule, will come first in a lower house election expected within months. That would put its leader in position to become the next prime minister. ...

Explosions strike top Syrian army building

Posted: 25 Sep 2012 11:55 PM PDT

BEIRUT (Reuters) - Two loud explosions targeted one of Syria's top military command buildings in the capital Damascus on Wednesday, engulfing the building in flames, residents and state-television said. They said the explosions struck the General Staff Command Building (Hay'at al Arkan) in the Umayad Square in central Damascus, which is one of the top military headquarters in the country. There was no immediate word on casualties but ambulances could be heard racing to the sealed-off area. ...

Magnitude 6.2 earthquake strikes near Mexico's Baja Peninsula

Posted: 25 Sep 2012 10:40 PM PDT

QUAKE-MEXICO/ TMEXICO CITY (Reuters) - A magnitude 6.2 earthquake struck off the southern tip of Mexico's Baja Peninsula, on Tuesday and caused panic, but local officials said there were no reports of damage or injuries. The quake's epicenter was located 46 miles north of La Paz, Mexico, and was centered in the Gulf of California, according to the U.S. Geological Survey. "It felt pretty strong," said Ivan Calderon, a Baja California Sur state civil protection official, adding there were no reports of damages or injuries. ...

North Korea gets lukewarm reception to investment plea

Posted: 25 Sep 2012 10:51 PM PDT

BEIJING (Reuters) - North Korea got a lukewarm reception to a plea on Wednesday for investment in two special economic zones set up with China, with businesses expressing worries about the impoverished state's stability and lack of basic infrastructure like banks. Rason on North Korea's east coast and Hwanggumphyong, an area on the western border between the two countries, hope to attract Chinese and foreign investment to help Pyongyang overcome tough international sanctions imposed in retaliation for its nuclear tests. ...

Brazil court orders YouTube to remove anti-Islam film

Posted: 25 Sep 2012 09:46 PM PDT

BRASILIA (Reuters) - A Brazilian court on Tuesday banned an online anti-Islam movie that spawned violent protests across the Muslim world and gave YouTube 10 days to pull the film's trailer from its website. The decision by a state court in Sao Paulo, home to a large Middle Eastern immigrant community, came hours after Brazilian President Dilma Rousseff criticized "Islamophobia" in Western countries in a speech at the United Nations. ...

Iran condemns U.S. removal of MEK group from terrorist list

Posted: 26 Sep 2012 12:00 AM PDT

DUBAI (Reuters) - Iran condemned the planned removal of the Iranian dissident group Mujahadin-e Khalq (MEK) from the United States' list of terrorist organizations, Iranian media reported on Wednesday. U.S. officials said last week that Secretary of State Hillary Clinton had made the decision to remove MEK from the list, handing a political victory to a group once sheltered by Iraqi leader, and arch-foe of Iran, Saddam Hussein. ...

Georgia's richest man runs for country's top job

Posted: 26 Sep 2012 01:21 AM PDT

In this photo taken Wednesday, Sept. 12, 2012, Georgia's billionaire and opposition leader Bidzina Ivanishvili speaks during his interview with The Associated Press at his home in Tbilisi, Georgia. Georgia's richest man, multibillionaire and philanthropist Bidzina Ivanishvili is on a collision course for political power with President Mikhail Saakashvili — his onetime close friend and ally. Ivanishvili was an early supporter of Saakashvili after he came to power following the 2003 Rose Revolution demonstrations that drove out the corruption-riddled regime of Eduard Shevardnadze. But Ivanishvili, who made his fortune in Russia, gradually became disenchanted and began to fear that his disagreements with Saakashvili could imperil his future. (AP Photo/Shakh Aivazov)Georgia's richest man, billionaire and philanthropist Bidzina Ivanishvili seems to have it all — a head-spinning fortune, the respect of his country and gleaming, art-filled palaces across the globe, including one where zebras and pink flamingoes roam.

AP Interview: Ahmadinejad pushes new world order

Posted: 25 Sep 2012 11:02 PM PDT

Iranian President Mahmoud Ahmadinejad speaks during an exclusive interview with Associated Press editorial staff during his visit to the 67th session of the United Nations General Assembly on Tuesday, Sept. 25, 2012 in New York. (AP Photo/Bebeto Matthews)After an hour of fielding questions about Syria, sanctions and nuclear weapons, Iranian President Mahmoud Ahmadinejad had enough. Now, he said, it was his turn to choose the topic — his "new order" which will inevitably replace the current era of what he called U.S. bullying.

2 explosions hit near army HQ in Syrian capital

Posted: 26 Sep 2012 01:23 AM PDT

A Free Syrian Army fighter fires at Syrian Army positions during clashes in Aleppo, Syria, Tuesday, Sept. 25, 2012. Over the past few months, rebels have increasingly targeted security sites and symbols of regime power in a bid to turn the tide in Syria's 18-month conflict, which activists say has left some 30,000 people dead. (AP Photo/Manu Brabo)Two massive explosions targeting the army command headquarters rocked the heart of the Syrian capital on Wednesday, setting off clashes and a huge fire inside the building in the heavily guarded area, state-run media and residents said.

Indonesian ferry collides with cargo ship; 8 dead

Posted: 25 Sep 2012 11:44 PM PDT

A passenger ferry collided with a cargo ship and sank west of Indonesia's main island Wednesday morning, and at least eight people were killed, officials said.

Egypt's new President Morsi debuts at UN

Posted: 25 Sep 2012 10:19 PM PDT

Egyptian President Mohammed Morsi speaks at the Clinton Global Initiative in New York Tuesday, Sept. 25, 2012. Morsi, the country's first democratically elected leader, says freedom of expression must be joined with responsibility in a speech that addressed the violent clashes that erupted across the Muslim world in reaction to an anti-Islam video produced in the United States. (AP Photo/David Karp)Egypt's new President Mohammed Morsi debuts at the United Nations on Wednesday with a speech that will be closely watched by world leaders for clues about his democratic intentions and plans for lifting his country out of crippling poverty.

Firebrand politician to appear in SAfrica court

Posted: 26 Sep 2012 12:15 AM PDT

Firebrand South African politician Julius Malema will appear in a regional court on Wednesday on charges of money laundering in connection with an improper government tender awarded to a company his family trust partly owns.

Spain: 38 arrested, 64 injured in protest

Posted: 26 Sep 2012 12:36 AM PDT

Spanish police say 38 people were arrested and 64 people injured when officers clashed with protesters demonstrating against austerity cutbacks and tax hikes.

Obama summons world leaders to reject extremism

Posted: 25 Sep 2012 05:43 PM PDT

President Barack Obama addresses the 67th session of the United Nations General Assembly, Tuesday, Sept. 25, 2012. (AP Photo/Richard Drew)Confronting global tumult and Muslim anger, President Barack Obama exhorted world leaders Tuesday to stand fast against violence and extremism, arguing that protecting religious rights and free speech must be a universal responsibility and not just an American obligation.

AP IMPACT: Party seems over for Somali pirates

Posted: 25 Sep 2012 02:14 PM PDT

In this photo taken Sunday, Sept. 23, 2012, masked Somali pirate Hassan stands near a Taiwanese fishing vessel that washed up on shore after the pirates were paid a ransom and released the crew, in the once-bustling pirate den of Hobyo, Somalia. The empty whisky bottles and overturned, sand-filled skiffs that litter this shoreline are signs that the heyday of Somali piracy may be over - most of the prostitutes are gone, the luxury cars repossessed, and pirates talk more about catching lobsters than seizing cargo ships. (AP Photo/Farah Abdi Warsameh)The empty whiskey bottles and overturned, sand-filled skiffs littering this once-bustling shoreline are signs the heyday of Somali piracy may be over. Most of the prostitutes are gone and the luxury cars repossessed. Pirates while away their hours playing cards or catching lobsters.

Japan, China move to dampen down island dispute

Posted: 26 Sep 2012 12:43 AM PDT

A Japan Coast Guard's patrol boat, third from the top, and a Taiwanese patrol boat, 4th from the top, discharge water each other near disputed islands called Senkaku in Japan and Diaoyu in China, in the East China Sea, Tuesday, Sept. 25, 2012. On Tuesday morning, about 50 Taiwanese fishing boats accompanied by 10 Taiwanese surveillance ships came within almost 20 kilometers (about 12 miles) of the disputed islands - within what Japan considers to be its territorial waters, said Yasuhiko Oku, an official with the Japanese coast guard. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, FRANCE, HONG KONG, JAPAN AND SOUTH KOREAJapan and China are taking small steps to dampen down a bitter dispute over a group of small islands in the East China Sea following an intense but seemingly controlled confrontation between Japan and Taiwan over the islands' sovereignty.
Posted by Harshad at 1:41 AM

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