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Snuffysmith

Washington’s rescue cannot end crisis
When bubbles burst, asset prices decline and illiquidity and insolvency emerge in the financial system, writes Martin Wolf

Snuffysmith
CREDIT BUBBLE BULLETIN
Confirmations
on the bleak side

Availability of credit continues to falter, yet the Fed's reflation options are circumscribed by growing investor preferences to purchase "things" as opposed to securities. The days when compliant hedge fund managers could be nudged into buying stocks and junk bonds are over. (Feb 25, '08)
Doug Noland reviews the previous week's events each Monday.
Snuffysmith
Ambac bailout may cause crisis
There are solutions to the US financial crisis - the proposed injection of US$3 billion into bond insurer Ambac is not one of them. Prices have to come down, banks have to be recapitalized, risk premiums have to go up. But with little interest in tough medicine, we face higher inflation and a substantially weaker dollar. - Axel Merk
Snuffysmith
America's Spymaster: Al-Qaida still No. 1 threat to U.S.

Lebanese officials: S. Lebanon explosion injures 4

Bernanke signals another Fed rate cut: The dollar fell to a fresh record low against the euro on Wednesday

Sizing up Medvedev, the next Russian president

USDA Sued Over 'Downer' Cow Rules
Snuffysmith
Carlyle Group Plans to Invest $4 Billion In Emerging Asian Companies
( Published on Wednesday, February 27, 2008 )
Carlyle Group, the world's second- biggest private-equity firm, plans to raise as much as $4 billion to invest in Asian companies as the credit freeze stalls U.S. and European leveraged buyouts


Ron Paul: Bernanke Deliberately Destroying Dollar
( Published on Wednesday, February 27, 2008 )
Congressman schools Fed chairman again during House Financial Services Committee meeting, warns "history is against you"


9/11 Redux: 'Thousands of Aliens' in U.S. Flight Schools Illegally
( Published on Wednesday, February 27, 2008 )
Thousands of foreign student pilots have been able to enroll and obtain pilot licenses from U.S. flight schools, despite tough laws passed in the wake of the 9/ll attacks


Greenspan tells Gulf States to drop dollar
( Published on Tuesday, February 26, 2008 )
He said the policy was helping Gulf states attract foreign investments
Snuffysmith
U.S. Economy Grew 0.6% in Fourth Quarter, Less Than Economists Estimated The U.S. economy in the fourth quarter grew at an annual rate of 0.6 percent, less than forecast and reflecting reduced estimates for spending and construction.

Sprint Posts $29.5 Billion Loss, Eliminates Dividend, Borrows $2.5 Billion Sprint Nextel Corp., the third- biggest U.S. wireless carrier, posted a $29.5 billion loss and eliminated its dividend as customers defected and it wrote down the value of the purchase of Nextel Communications Inc.

Stock-Index Futures Decline After GDP Trails Forecasts; Sprint Shares Drop U.S. stock-index futures declined after fourth-quarter economic growth slowed more than forecast and unemployment claims jumped.

Freddie Mac Has Record $2.45 Billion Loss on Housing, Credit-Market Slump Freddie Mac, the second-largest source of money for U.S. home loans, posted a record $2.45 billion loss for the fourth quarter as rising mortgage defaults sent credit costs soaring.

Sears Net Drops 47%, More Than Analysts Estimated, on Lower Holiday Sales Sears Holdings Corp., the retailer controlled by investor Edward Lampert, reported fourth-quarter profit that plunged more than analysts projected after appliance and clothing sales declined.

Thornburg Says It May Sell Securities to Meet Margin Calls; Shares Tumble Thornburg Mortgage Inc., the lender that sold $21.9 billion of assets in August due to a cash shortage, said it may have to sell more securities to meet lenders' demands for increased collateral. The stock declined 26 percent in early trading.

Snuffysmith

milspace
+ US Scores An Anti Satellie Triumph
Moscow (UPI) Feb 28, 2007 - On Feb. 21 the modified Standard Missile SM-3 shot down US-193, a dying, bus-sized U.S. spy satellite loaded with toxic fuel on a collision course with Earth. There are more pro than con arguments concerning this decision, because few people would have liked to die because of the collision. The spy satellite, known as US-193, was launched in December 2006. It lost power and its ... more

stans
+ Turkey tells US its troops will stay in Iraq 'as long as necessary'
Ankara (AFP) Feb 28, 2008 - Turkey said Thursday its offensive against Kurdish rebels in northern Iraq will continue "as long as necessary," rejecting US pressure for a speedy end to the week-old military incursion. Turkish warplanes meanwhile bombed separatist Kurdistan Workers' Party positions in northern Iraq and intensive fighting was reported on the ground near a major rebel base, Iraqi security sources said ... more

iran
+ Iran 'number one world power': Ahmadinejad
Tehran (AFP) Feb 28, 2008 - President Mahmoud Ahmadinejad declared on Thursday that Iran was the world's "number one" power, as he launched a bitter new assault on domestic critics he accused of siding with the enemy. "Everybody has understood that Iran is the number one power in the world," Ahmadinejad said in a speech to families who lost loved ones in the 1980-1988 Iran-Iraq war. "Today the name of Iran means a ... more

stans
+ Pakistan army says explosion led to militant deaths
Islamabad (AFP) Feb 28, 2008 - Pakistan's military said up to 12 suspected militants were killed Thursday in an explosion at a hideout in the restive northwestern tribal region bordering Afghanistan. The military's statement came after local people and security officials in the South Waziristan district reported that a suspected US missile strike on a Taliban and Al-Qaeda hideout had killed 13 people, including several ... more
Snuffysmith
miltech
+ Betting On Tanks To Control The Battlefield Part Two
Washington (UPI) Feb 28, 2007 - The effectiveness of IEDs against tanks in Iraq has been claimed as proof that they have become obsolescent. But it's not true. For more than 70 years, there have been specific battles or types of conflict that tanks were not suited for -- but none of that ever detracted from their continuing importance in their primary task. Tanks were claimed to be useless from the first time ... more

cyberwar
+ Analysis: New cyber chief faces Hill anger
Washington (UPI) Feb 27, 2007 - The new job of Scott Charbo, the man President Bush has picked to head up the protection of U.S. computer networks, involves countering threats from Russian hackers, Chinese cyber spies and Internet Jihadis. But perhaps his most immediately dangerous adversary is the chairman of the House Homeland Security Committee. The two men will be face to face Thursday, when Charbo, the deputy ... more

cyberwar
+ Analysis: Germany stops Big Brother law
Berlin (UPI) Feb 27, 2007 - The decision by Germany's highest court Wednesday to annul a controversial state law allowing secret computer searches for security and anti-terror investigations rightfully puts civil rights above security interests, experts say. If you are living in Germany, police will have a tougher time secretly invading your computer. Judges of the Federal Constitutional Court in Karlsruhe, German ... more

disaster-management
+ Indonesian govt under fire for mud volcano compensation
Jakarta (AFP) Feb 28, 2008 - A decision by the Indonesian government to allot millions of dollars in state funds to compensate victims of a mud volcano disaster came under fire Thursday from activists and a legislator. Public works minister Djoko Kirmanto announced that 700 billion rupiah (77 million dollars) had been earmarked for victims as well as efforts to divert the mudflow in East Java into a nearby river, local ... more

economy
+ Bush rules out US recession fears
Washington (AFP) Feb 28, 2008 - US President George W. Bush on Thursday rejected fears the country was slipping into recession, ruling out a second stimulus package as he also urged Congress to pass controversial wiretap laws. "We've acted robustly and now it's time to determine whether or not this program will actually work," Bush said, referring to a 168-billion-dollar stimulus plan he signed into law in early February. ... more
Snuffysmith
Japanese cellphones to turn into 'robot' buddies
Tokyo (AFP) Feb 28, 2008 - For those who feel a bit lonely just talking on the phone, a Japanese company is offering a cellphone that turns into a robot buddy ready to chat. Softbank Mobile Corp.'s new mobile line looks like a small humanoid with attachable arms and legs, with the screen showing various faces. The PhoneBraver will be released in April after a character in an upcoming television drama series ... more

energy-tech
+ Renewable Energy On A Fast Track
Washington DC (SPX) Feb 29, 2008 - The world must find clean sources of power that can be developed on a fast track. Bourne Energy's RiverStar (Patent Pending) Kinetic Energy System, self-contained energy modules placed in river currents, produce electricity from the harnessing of moving water in the river rather than the potential energy of water stored behind large dams. Bourne's RiverStar System is designed to harness ... more

gas
+ Analysis: Russia's northern oil exports
Washington (UPI) Feb 28, 2007 - The good news for Russia is that energy prices are at a world record, and that Russia is now tied neck and neck with Saudi Arabia as the world's leading oil producer, producing around 9 million barrels per day to a world consuming about 84 million bpd. Russia is the largest non-OPEC oil producer and now generates 12 percent of global production. The bad news is that Russia's major ... more

energy
+ BP Ramps Up to Full Construction of Phase One of 750 MW Wind Farm In Texas
Houston TX (SPX) Feb 29, 2008 - BP Alternative Energy announced that it has moved into full construction on phase one of the Sherbino Wind Farm located approximately 30 miles east of Fort Stockton in Pecos County, west Texas. Phase one of the project will have a capacity of 150 megawatts and is being built through a 50-50 joint venture agreement with Padoma Wind Power LLC, a wholly owned subsidiary of NRG Energy, Inc. The ... more

gas
+ Analysis: Nigeria, China boost energy ties
Beijing (UPI) Feb 29, 2008 - Nigerian President Umaru Yar'Adua is visiting China this week to talk about ways to broaden their already-extensive oil and gas ties. Yar'Adua, who arrived in Beijing Wednesday, is set to meet with President Hu Jintao and other senior Chinese officials during his four-day visit. The focal interest of the talks would be to "sign agreements on energy-related matters," according to ... more
Snuffysmith
milplex
+ Unbound Turkey: A Rising Regional Powerbroker
Newtown CT (SPX) Feb 28, 2008 - With its large military, burgeoning economy, and pivotal location as a bridge between two continents, Turkey has emerged as a crucial player involving regional geopolitics in both the Caspian Basin and the greater Middle East. As detailed in its most recent "Turkey Military Market Overview," Forecast International anticipates that Ankara's growing role as a regional powerbroker will be strengthened ... more

abm
+ US offers Poland military plan for missile shield: ministry
Warsaw (AFP) Feb 27, 2008 - Washington on Wednesday made Poland a new military cooperation proposal in line with a condition set by Warsaw for hosting a controversial US missile shield, the Polish foreign ministry said. "The American side has given Polish Foreign Minister Radoslaw Sikorski a document related to military cooperation," ministry spokesman Piotr Paszkowski told AFP. Paszkowski said the document was a ... more
Snuffysmith
`Chemical Ali' to Be Executed Within 30 Days in Iraq - Convicted of leadership role in Kurd genocide

Turkish troops withdraw from northern Iraq

Iraq drains resources from U.S. Pacific Command

Preparations under way for Ahmadinejad visit

Iraq trip to be major foreign policy success for Iranian President Ahmadinejad

Top U.S. military officer worries about quick Iraq pullout: Admiral Mullen, Chairman of the Joint Chiefs of Staff

Sen. John Ensign, R-Nev., rejected calls Saturday for the withdrawal of U.S. troops in Iraq by the end of the year

US and Iraq Pledge Economic Cooperation

Iraq PM Touts Success in Efforts To Achieve Stability And Eliminate sectarian violence Address to Shi'ite Pilgrims

The army learns its lesson: US army's new field manual represents a stern rebuke of the Bush administration's military policies but may shift too far in the opposite direction

Kurdistan: A state in the making?

Iraqi Oil Draft Remains Deadlocked: Stalled by the bitter row between Baghdad and the largely autonomous Kurdistan region in the north

Army overhauls wartime purchasing: As the number of criminal investigations into wartime contract fraud nears triple figures

Recipes for Disaster in Iraq: Bush legacy on the Fifth Invasion Anniversary - less houses, more bases, more weaponry, more war

Wounded British troops finally win better care from army

Snuffysmith
With city of 120,000 under rocket fire, Israel warns of Gaza invasion: IDF has completed preparations - waiting only for onset of good weather

IDF forces prepare for Gaza incursion: Dozens of tanks, artillery battery positioned just north of Gaza to reinforce infantry, engineering corps forces already inside Strip ahead of possible large-scale ground operation

IDF instructs Ashkelon residents on rocket attack protection

Israel minister warns Palestinians of "holocaust" in Gaza if rocket attacks continue

Hamas Boasts: Israel will flounder in Gaza like it did in Lebanon

Israel, Hamas continue aerial attacks

Woman wounded as Kassam rocket slams into Sderot home

Abbas Needs a Miracle

US warships move into E. Mediterranean in case Gaza escalation spills over into Lebanon

Hezbollah condemns US warships deployed off Lebanese coast

Egyptian girl shot to death near Egyptian border

Israel foils attack on Dimona nuclear reactor

1st Temple seal found in City of David: Seal bearing an archaic Hebrew inscription dating back to the 8th century BCE

Snuffysmith
Syria, Lebanon: US sends 3 warships to Mediterranean as tensions mount

Afghanistan: Prince Harry serving in Afghanistan, British officials say

Afghanistan: Harry to be pulled out of Afghanistan - After word leaked that he was there

Iran: Bush rules out talks

Iran: US to keep Iran nuclear drama alive into next administration -- says Burns, US undersecretary of state, told the Council on Foreign Relations

Iran: UN Security Council to vote on new Iran sanctions

Somalia: Presidential guard shoots minister's brother dead

Pakistan: Bhutto book 'message from grave' - a manifesto on religious tolerance

Snuffysmith
Turkish Troops Said to Be Leaving Iraq...
The New York Times Fri Feb 29 2008 05:57:07 GMT-0500 (Eastern Standard Time)

Iraqi Presidency Clears Execution of Chemical Ali...
The New York Times Fri Feb 29 2008 03:40:46 GMT-0500 (Eastern Standard Time)

For Obama, a Taste of What a Long Battle Holds...
The New York Times Fri Feb 29 2008 03:00:52 GMT-0500 (Eastern Standard Time)

Russia Is Luring Back N.H.L. Stars...
The New York Times Fri Feb 29 2008 00:02:17 GMT-0500 (Eastern Standard Time)

A Blood Thinner Might Be Linked to More Deaths...
The New York Times Thu Feb 28 2008 23:13:54 GMT-0500 (Eastern Standard Time)

Obama and Clinton Flush With Cash From February...
The New York Times Thu Feb 28 2008 23:13:53 GMT-0500 (Eastern Standard Time)

More Than 1 in 100 Adults Are Now in Prison in U.S...
The New York Times Thu Feb 28 2008 21:55:42 GMT-0500 (Eastern Standard Time)

Democrats Bring in $80 Million, With Obama in Lead...
The New York Times Thu Feb 28 2008 21:55:42 GMT-0500 (Eastern Standard Time)

Judith Jamison Announces Retirement...
The New York Times Thu Feb 28 2008 18:01:36 GMT-0500 (Eastern Standard Time)

Partisan Split Grows Over Housing Crisis...
The New York Times Thu Feb 28 2008 18:01:28 GMT-0500 (Eastern Standard Time)
Snuffysmith

Transcripts & Speeches

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George W. Bush: President Bush's News Conference
Special Report w/Brit Hume: Panel Looks at Politics and the Economy
Hannity & Colmes: Dick Morris on the Clinton/Obama Race
The Situation Room: Senator Dodd on "The Situation Room"
Hillary Clinton: Clinton Economic Summit in Zanesville, Ohio
Snuffysmith
Buffett Says U.S. Trade Imbalance Lures Sovereign Wealth Funds: These government-controlled funds are fueled by U.S. spending overseas, not political motives. "When we force-feed $2 billion daily to the rest of the world, they must invest in something here.''

U.S. Stocks Decline 2.7% on Economic Concern

Fed Officials Diverge on Economic Risks, Interest-Rate Response


US gold up in run to $1,000; silver at 28-yr peak


Nigeria oil hub targeted in night attack, one hurt

Liechtenstein: where the missing billions go

Snuffysmith
Clinton campaign sets new standard for nomination race - Hints that Obama needs to win all four primaries on March 4 to claim victory

Clinton hints Obama can't handle crisis: Ad suggests he's not ready to be president

Democrats amassing cash; GOP has reason to worry

Obama, Clinton deadlocked in Texas, Ohio

Can Clinton's Campaign Be Saved In Ohio? After a string of 11 straight losses, Clinton in a 'must-win' race

Can Clinton Overcome Obamania?

Whispering Campaign Against Obama Continues: Designed to stoke anti-Muslim sentiment

Obama, McCain integrity faces big money test

McCain Faces Fire Over Minister's Views: Support from John Hagee causing some problems for McCain - Hagee is one of Bush's main religious supporters

Guns, butter and the war: Soft-approach ad against McCain - Capt. Forrest attributes to Mr. McCain the statement that he would be comfortable if we had to stay in Iraq for 1,000 years

Snuffysmith

McCain Is Off-Key on Trillion Dollar War [VIDEO]
Election 2008: Let everyone see firsthand (with a little help from our composers) that the senator embraces war in a dangerous and irresponsible manner. More »

Snuffysmith
Dems Raise a Staggering $80 million in February
February 29, 2008
The long and short of it is this: Obama raised at least $50 million in February while Hillary Clinton - whose campaign has been in free fall for most of the month - still managed to raise almost $35 million: More

Snuffysmith
Snuffysmith
31 Palestinians Killed in Israeli Raid on Gaza Strip...
The New York Times Sat Mar 01 2008 09:02:17 GMT-0500 (Eastern Standard Time)

How Do You Prove Youre a Jew?...
The New York Times Sat Mar 01 2008 09:02:17 GMT-0500 (Eastern Standard Time)

In Tennessee, 2 Endangered Groups Meet by Chance...
The New York Times Sat Mar 01 2008 07:55:58 GMT-0500 (Eastern Standard Time)

Israel Warns of Disaster in Gaza...
The New York Times Sat Mar 01 2008 05:43:38 GMT-0500 (Eastern Standard Time)

A Town and a Baptist Pastor Vie Over Eternity...
The New York Times Sat Mar 01 2008 05:23:08 GMT-0500 (Eastern Standard Time)

Preserving a Forest and a Philosophy...
The New York Times Sat Mar 01 2008 03:03:40 GMT-0500 (Eastern Standard Time)

U.S.-Europe Team Beats Out Boeing on Big Contract...
The New York Times Sat Mar 01 2008 01:18:15 GMT-0500 (Eastern Standard Time)

Markets Fall on Drumbeat of Grim Reports...
The New York Times Sat Mar 01 2008 01:18:13 GMT-0500 (Eastern Standard Time)

Free Lunch Isnt Cool, So Some Students Go Hungry...
The New York Times Fri Feb 29 2008 23:42:27 GMT-0500 (Eastern Standard Time)

In 08 Politics, Rhode Island Defies Its Size...
The New York Times Fri Feb 29 2008 23:42:26 GMT-0500 (Eastern Standard Time)
Snuffysmith
USDA Shuts Down Congressional Audit
( Published on Friday, February 29, 2008 )
The Agriculture Department abruptly ordered congressional auditors to leave its headquarters and told its employees not to cooperate with them


Welcome To The North American Army
( Published on Friday, February 29, 2008 )
Will historians one day record that “It happened on Valentine’s Day” when chronicling the timetable of the North American Union


VIDEO: Ron Paul Interview on FOX Business Channel 02/28/2008
( Published on Friday, February 29, 2008 )



Israeli War Minister Threatens Palestinian Holocaust
( Published on Friday, February 29, 2008 )
Media who became obsessed with "wipe Israel off the map" misquote scurry to defend Vilnai after disgraceful comments
Snuffysmith
U.S. Stocks Drop for Fourth Month Amid Prospects for Bank Losses, Slowdown U.S. stocks fell this week, capping the fourth-straight monthly decline, after analysts boosted estimates for losses at banks and speculation increased that rising unemployment and lower manufacturing are pushing the economy into recession.

Inflation Erodes Gains in U.S. Consumer Spending, Chicago Index Declines Consumer spending in the U.S. rose more than forecast in January, reflecting a jump in prices that is eroding Americans' buying power.

Buffett's Berkshire Hathaway Profit Declines 18% on Lower Insurance Prices Billionaire investor Warren Buffett's Berkshire Hathaway Inc. said fourth-quarter profit fell 18 percent on declining insurance rates.

Northrop Wins $35 Billion U.S. Tanker Program, Beating Boeing; Shares Rise Northrop Grumman Corp., the third- largest U.S. defense contractor, won a U.S. Air Force program valued at as much as $35 billion to build 179 aerial refueling tankers, breaking Boeing Co.'s half-century hold on the business.

Delta Air Dismisses Merger Advisers on Possible Northwest Deal, People Say Delta Air Lines Inc. disbanded the outside advisers hired to guide a merger with Northwest Airlines Corp. after the carriers' pilots couldn't agree on how to mesh seniority lists, people with knowledge of the matter said.

Pimco's Gross Plans to Purchase Municipal Bonds, Subprime-Casualty Assets Bill Gross, manager of the world's biggest bond fund, plans to invest in municipal bonds and mortgage loans as banks' reluctance to lend forces hedge funds and other investors to unload the debt.

Snuffysmith

A trip to Baghdad
What lies behind Mahmoud Ahmadinejad’s trip to Iraq at the weekend?

Snuffysmith
Stocks slide as investors scramble for safety
Growing fears about stability of financial system Buffett defends sovereign wealth funds
Buying spree function of 'misguided' policies
Snuffysmith

Transcripts & Speeches

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The NewsHour: Shields and Brooks Look to Ohio & Texas
Hannity & Colmes: Huckabee on "Hannity & Colmes"
Special Report w/Brit Hume: Panel on Clinton/Obama Security Ads
George W. Bush: President Bush's News Conference
Special Report w/Brit Hume: Panel Looks at Politics and the Economy
Snuffysmith
Unemployment Rate in U.S. Probably Rose Last Month; Manufacturing Shrank The unemployment rate in the U.S. probably rose in February as hiring slowed, and manufacturing may have contracted for the second time in three months, economists said before reports this week.

U.S. Stocks Drop for Fourth Month Amid Prospects for Bank Losses, Slowdown U.S. stocks fell this week, capping the fourth-straight monthly decline, after analysts boosted estimates for losses at banks and speculation increased that rising unemployment and lower manufacturing are pushing the economy into recession.

Fed Officials Diverge on Assessment of Economic Risks, Response on Rates Federal Reserve policy makers diverged on their assessments of interest rates and economic risks, with some highlighting dangers of a deeper slowdown and others stressing the need to maintain credibility on inflation.

Snuffysmith
nuclear-doctrine
+ Analysis: China's nuke expansion at sea
Hong Kong (UPI) Feb 29, 2007 - Some high-resolution images of China's Type 094 SSBN have shed new light on this mysterious strategic missile nuclear-powered submarine of the People's Liberation Army Navy. Satellite photos released by Google Earth reveal two of these new submarines at the Huludao Shipyard in northeast China. The 094 SSBN's hull structure has been upgraded from the 092 SSBN, which means the later version ... more

iran
+ UN Security Council set to adopt Iran sanctions Monday
United Nations (AFP) March 2, 2008 - The Security Council is set to vote Monday to marginally tighten UN sanctions against Iran over its refusal to freeze sensitive nuclear fuel work. The 15-member council was scheduled to hold consultations from 10:30 a.m. (1530 GMT) Monday ahead of the vote to adopt a third sanctions resolution which was slightly amended by its Western sponsors late Friday. The vote, initially planned for ... more

iraq
+ Bush refuses to commit to pulling more troops from Iraq
Crawford, Texas (AFP) March 1, 2008 - US President George W. Bush Saturday refused to speculate on whether more US troops would be pulled out of Iraq after July saying the decision would be made by his top military leaders. The Washington Post speculated Saturday that the Bush administration would withdraw more US forces from the country before he leaves office in January 2009. But Bush told a press conference at his Texas ... more

superpowers
+ China And US Nuclear Talks Lead To New Military Hotline
Shanghai (AFP) March 1, 2008 - China and the United States have agreed to deepen a dialogue on nuclear and Asian security issues following the end of high-level talks in Beijing this week, the US defence department said Saturday. The discussions were part of ongoing Sino-US defence consultations aimed at increasing mutual understanding and avoiding miscalculation between the two powers, said David Sedney, deputy assistant ... more

iran
+ Outside View: Iran group can end misery
London (UPI) Feb 29, 2007 - Feb. 11 marked the 29th anniversary of the founding of the Islamic Republic of Iran. Yet, as nations across the world have made huge technological and scientific advancements over the past three decades, Tehran's rulers have taken the people of ancient Persia back to the closest thing to the Middle Ages. Once the cradle of civilization, Iran under the mullahs' rule is today a state of ... more
Snuffysmith
stans
+ NATO chief says alliance making headway in Afghanistan
Washington (AFP) March 2, 2008 - NATO Secretary-General Jaap de Hoop Scheffer said on Sunday the alliance's mission in Afghanistan was making progress in its fight against the Taliban insurgency. Despite increasingly bloody clashes with a resurgent Taliban Islamist militia, the NATO chief said in an interview with CNN television the situation was "looking quite good." "We are making a lot of progress. The international ... more

trade
+ China fast becoming the world's shipyard
Dalian, China (AFP) March 2, 2008 - In a drydock at a shipyard in northeast China's Dalian city, a 300,000-tonne oil tanker is ready for delivery to Maersk, its hull painted in the Danish shipping company's trademark blue. Nearby, an offshore drilling platform has been constructed according to precise specifications from US company Noble. Both are examples of China's growing success as a shipbuilding nation and its progress ... more

china
+ Workers' rights a tough battle for history-making Chinese MP
Foshan, China (AFP) March 2, 2008 - When China's parliamentary session begins this week, a small, spirited woman with a middle-school education will make history as one of the first migrant workers to join the lawmaking body. Hu Xiaoyan, 34, a ceramics worker in China's southern manufacturing hub of Guangdong, may be an unlikely politician, but her appointment to parliament signals a historic if only symbolic milestone in ... more

wind
+ Windmill uses wind power for desalination
Delft, Netherlands, March 1, 2007 - Dutch researchers have created a windmill that can be used for seawater desalination without having to worry about electricity. Delft University of Technology said a traditional windmill drives a high-pressure pump that pushes seawater through a reverse osmosis membrane to produce fresh water, the university said Friday in a release. While windmill and desalination installations ... more

gas
+ Analysis: Iraq-Turkey-U.S. gas talks begin
Washington (UPI) Feb 29, 2007 - The third official energy meeting involving Iraqi, Turkish and U.S. officials began Friday in Istanbul, and though a top State Department official doesn't expect "huge breakthroughs," he hopes to see progress in developing a gas pipeline that will eventually feed Europe's demand after edging out Russia and excluding Iran. "The overall goal is to figure out how best to attract investment ... more
Snuffysmith

stans
+ Turkey tells US its troops will stay in Iraq 'as long as necessary'
Ankara (AFP) Feb 28, 2008 - Turkey said Thursday its offensive against Kurdish rebels in northern Iraq will continue "as long as necessary," rejecting US pressure for a speedy end to the week-old military incursion. Turkish warplanes meanwhile bombed separatist Kurdistan Workers' Party positions in northern Iraq and intensive fighting was reported on the ground near a major rebel base, Iraqi security sources said ... more

iran
+ Iran 'number one world power': Ahmadinejad
Tehran (AFP) Feb 28, 2008 - President Mahmoud Ahmadinejad declared on Thursday that Iran was the world's "number one" power, as he launched a bitter new assault on domestic critics he accused of siding with the enemy. "Everybody has understood that Iran is the number one power in the world," Ahmadinejad said in a speech to families who lost loved ones in the 1980-1988 Iran-Iraq war. "Today the name of Iran means a ... more

stans
+ Pakistan army says explosion led to militant deaths
Islamabad (AFP) Feb 28, 2008 - Pakistan's military said up to 12 suspected militants were killed Thursday in an explosion at a hideout in the restive northwestern tribal region bordering Afghanistan. The military's statement came after local people and security officials in the South Waziristan district reported that a suspected US missile strike on a Taliban and Al-Qaeda hideout had killed 13 people, including several ... more

milplex
+ Pentagon hoping no sore losers in lucrative aircraft bid
Washington (AFP) Feb 28, 2008 - A US air force general said Thursday he hoped an upcoming Pentagon announcement on the winner of a huge aircraft contract will not spark a legal challenge by the loser of the lucrative bid. "I really hope there is not a protest," said Air Force chief of staff General Michael Moseley, of bidding which has pit US aerospace giant Boeing against Europe's EADS and its US partner Northrop Grumman. ... more
Snuffysmith
Russia election not free or fair, say observers: Dmitry Medvedev's landslide victory in Russia's presidential election

Red Square concert crowd hails double act that will hold reins of power in Russia: President-elect Medvedev to continue Putin policies

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