British PM Calls on China, Oil States to Aid World Economy
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Gordon Brown says International Monetary Fund may run short of money as it tries to bolster economies around world battered by financial meltdown
Gordon Brown, 27 Oct 2008 British Prime Minister Gordon Brown says the International Monetary Fund may run short of money as it tries to bolster economies around the world battered by the financial meltdown.Mr. Brown called on nations with substantial reserves like China and oil-rich Gulf states to contribute more to the fund. The IMF has been working to help several nations, including Ukraine and Iceland recently.Mr. Brown spoke before traveling to France for talks on economic issues with President Nicolas Sarkozy. He also is set to meet with Germany's chancellor, Angela Merkel, on Thursday in London. Meanwhile, two of the world's major central banks may be about to cut key interest rates in an attempt to boost the economy.Top officials of the U.S. Federal Reserve begin a two-day meeting Tuesday, and could announce a rate cut Wednesday. The head of the European Central Bank, ECB, says the institution is likely to cut interest rates next week. Also Tuesday, stock markets around the world are soaring. Hong Kong's key index rocketed upward more than 14 percent, and major indexes in Tokyo and Germany posted strong gains. Stock prices in Paris, London and New York also advanced strongly.
Some information for this report was provided by AFP, AP and Reuters.
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Most Arab, Gulf Stock Markets Lower for Third Day
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Financial difficulties by United Arab Emirates' second-largest bank causing ripple effect in various countries, including Kuwait
Most Gulf stock exchanges traded lower again, but with smaller losses than in previous sessions. Financial difficulties by the United Arab Emirates second-largest bank are causing a ripple effect in various countries, including Kuwait, as Edward Yeranian reports from Cairo.Traders follow market's movement at Stock Exchange in Kuwait City Most Arab stock exchanges, with several key exceptions, were lower for the third day, amid an ongoing global financial and economic crisis.The Qatar stock market was down more than 5 percent, and Kuwait more than 2 percent lower, while Abu Dhabi, Oman and Bahrain traded marginally lower. The Dubai market was flat, while Saudi Arabia showed a 5 percent gain, after hefty losses in recent days.Gulf economic experts say major losses by Kuwait's second-largest bank are having a ripple effect across Gulf markets. Trading in its shares remain suspended.Meanwhile, Kuwait's Finance Minister Mustapha Shamally told Al Arabiya TV that the government has approved a draft law to guarantee bank deposits, in line with similar measures taken in the United Arab Emirates, last week.Newspaper reports say that Kuwait is also preparing to set up a $5.6 billion-fund to help beleaguered companies that have incurred large overseas losses.United Arab Emirates Central Bank Governor Nasser al Suweidi also indicated Monday that property prices in the UAE could be facing a "correction," but that banks in the Emirates were "safe," and that the Central Bank was prepared to pour more liquidity into the banking system. In Egypt, the Cairo stock exchange closed with a gain of 4 percent after initial losses, but investors still appear to be fearful.A businessman in communications and information technology, Mohammed Omran, says the Egyptian market has lost more than 65 percent of its value in recent days."The economic crisis is not only in the Gulf, it is everywhere ... I want to talk about the stock market in Egypt, where we have seen a lot of deterioration of the market capitalization and the market value of the stock market over the last two weeks, or about 10 days since the financial crisis started hitting Egypt badly, and the market has lost over 65 percent or 70 percent of its value ...," Omran said.Omran also believes that panic is the major factor behind the economic crisis, and that many people are converting their assets into cash."Well, people are saying now to themselves that cash is a king, as you know, and for that everyone of course is trying to either liquidate his own stock assets or real estate or perhaps withdraw cash from the bank and keep it safe where he can," Omran said.While the widespread panic appears to be calming in the Arab markets, many people say they are worried the markets will continue on their slippery downward slope.
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Candidates Focus on Economy, Key States in Final Week of US Presidential Campaign
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Democrat Barack Obama continues to lead in national polls and in most key states that will hold balance in next week's election
The U.S. presidential election campaign is moving into its final week, and both major candidates are making their closing arguments to voters before the November 4 election. Democratic Party nominee Barack Obama and Republican John McCain have campaigned Monday in Ohio and are each beginning their day Tuesday in Pennsylvania, before moving on to other important states where the race is close. VOA national correspondent Jim Malone has the latest on the campaign from Washington. Senator Barack Obama in Canton, Ohio, 27 Oct 2008Democrat Barack Obama continues to lead in the national polls and in most of the key states that will hold the balance in next week's election.But Obama cautioned a crowd in Ohio not to take the election for granted, and to get out and work hard in the closing days of the campaign. "Do not believe for a second that this election is over," he said. "Do not think for a minute that power concedes. We have a lot of work to do. We have to work like our future depends on it in this last week, because it does depend on it this week!"Obama is focused on a message of change and unity in the final days of the campaign. He says if elected he would unify the country, including Democrats and Republicans, to take on the economic challenges at home and the security challenges abroad.But Obama is not backing away from his central contention that his Republican opponent, Senator John McCain, represents a continuation of what he calls the failed policies of President Bush."John McCain might be worried about losing an election, but I am worried about Americans who are losing their homes and their jobs and their life savings," said Obama. "I can take one more week of John McCain's attacks, but this country cannot take four more years of the same failed politics and the same failed policies. It is time to try something new!" Senator John McCain in Dayton, Ohio, 27 Oct 2008Senator McCain also campaigned in Ohio, and he focused on the economy, which the polls show is the number-one issue in the election."With one week left in this campaign, the choice facing Americans is stark," McCain said. "My economic goals and policies are very clear."McCain again distanced himself from the economic policies of President Bush, and noted that Americans want change.McCain also continued his attacks on Obama's tax proposals, which some of his supporters compare to socialism."And that is the problem with Senator Obama's approach to our economy," said McCain. "He is more interested in controlling wealth than creating it, in redistributing money instead of spreading opportunity. I am going to create wealth for all Americans by creating opportunity for all Americans!"Many political experts believe McCain is running out of time to close the gap in the polls in the final days of the campaign."What is driving this election is dissatisfaction with the party now holding the White House," said Allan Lichtman, a presidential historian at American University in Washington. "Nearly 90 percent of Americans think the country is on the wrong track. The economy is in meltdown. George Bush is the most unpopular president in the history of polling, which goes back to the 1930's."The fact that both major presidential contenders were in Ohio on the same day this late in the campaign reflects the state's influential status in presidential elections. No Republican has ever won the White House without carrying Ohio. And John Kennedy in 1960 was the last Democratic candidate to win the presidency without carrying Ohio. Obama has a narrow lead over McCain in the latest polls in Ohio.
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Rebels Continue Offensive in Eastern DRC
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Reports say rebels loyal to renegade General Laurent Nkunda overran Kibumba Monday, despite helicopter attacks by UN peacekeepers trying to stop rebel advance
Witnesses say government troops are retreating in the face of a rebel offensive in the eastern Democratic Republic of Congo.Officials and residents in Congo's North Kivu province say the sides clashed again Tuesday in several spots near Kibumba and Rutshuru, two towns north of the provincial capital, Goma.Reports say rebels loyal to renegade General Laurent Nkunda overran Kibumba on Monday, despite helicopter attacks by U.N. peacekeepers trying to stop the rebel advance.Two boys, fleeing from the town of Kibumba, walk as a tank of the Congolese army moves on the road, about 35 kilometers north of Goma, 27 Oct 2008Thousands of people from Kibumba and nearby villages have fled the fighting on foot toward Goma. The U.N. refugee agency said Tuesday it expects 30,000 new arrivals at a camp near the capital.The U.N.'s efforts have been hampered by attacks from locals, who are angry that the peacekeepers have failed to protect them from the fighting. At least two people were killed Monday when protesters tried to storm a U.N. compound. The commander of the U.N. mission in Congo, Spanish Lieutenant General Vicente Diaz de Villegas, resigned from his post on Monday, for what the U.N. called "personal reasons." A Ghanian officer has taken over the post until a permanent replacement is named.Nkunda's men launched their offensive against government forces on Sunday. The sides have fought numerous battles since late August, following the collapse of a January peace deal.Nkunda says his militia is defending Tutsi civilians from Hutu fighters from neighboring Rwanda. The rebels accuse Congo's army of working with the Hutus.North Kivu remains the most volatile area of a country still recovering from a devastating five-year civil war that ended in 2003.
Some information for this report was provided by AP and Reuters.
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Iraq 'Rejects' Deadly Helicopter Attack on Eastern Syria
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Iraqi spokesman says Iraq does not want its territory to be used for attacks on neighboring countries
The Iraqi government has criticized Sunday's helicopter raid on eastern Syria that Damascus blames on U.S. forces.An Iraqi government spokesman said Baghdad "rejects" the raid. He added that Iraq does not want its territory to be used for attacks on neighboring countries. It was Iraq's first official criticism of Sunday's attack.Syria says four helicopters carried U.S. troops on a cross-border attack that killed eight civilians. The Syrian government has already lodged an official protest with the U.S. Tuesday, it ordered the closure of an American school and an American cultural center in Damascus.The U.S. government has refused comment on the raid - but one U.S. official, speaking anonymously, said the attack is believed to have killed the head of a network smuggling weapons and foreign fighters into Iraq.While criticizing the raid, the Iraqi spokesman also called on Damascus to crack down on insurgents who use Syria as a base to train and launch attacks on Iraq. Baghdad has said that Sunday's helicopter raid targeted such an area.China and Lebanon issued statements Tuesday condemning the attack as a violation of Syria's sovereignty.Russia and the Arab League issued similar statements Monday.Syria has accused the United States of "terrorist aggression" for the raid and filed an official protest with Washington. Syria has warned that if another raid happens, it will defend its territory. Syria's state news agency, SANA, says thousands of people attended the funerals Monday of those killed in the raid. The U.S. official who spoke to reporters confidentially said the targeted man was Abu Ghadiya. The U.S. Treasury Department has previously identified Ghadiya as a major terrorist financier for al-Qaida in Iraq.
Some information for this report was provided by AFP, AP and Reuters.
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Afghanistan, Pakistan, US Military Forces Cooperate in Border Region
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Intelligence analysts say that by neutralizing insurgents along border, they can prevent al-Qaida attacks in other parts of the world
Mutual distrust between Afghanistan and Pakistan has hampered efforts to combat terrorism along their common border. That has led to calls for joint patrols, along with international troops. While that has yet to happen, Afghan and Pakistani soldiers, along with U.S. forces, are working and living alongside each other in a new military facility in the Khyber Pass on the Afghan side of the border. VOA Correspondent Steve Herman was given a rare look inside the first Joint Border Coordination Center and files this report. An Afghan checkpoint on the border with PakistanIt is one of the world's most strategically important and porous borders. Smugglers and terrorists can cross it at more than 250 points - some in rugged mountainous terrain, virtually impossible for Afghanistan or Pakistan to adequately monitor. This lawless area, for years, has been home to al-Qaida, Taliban and other insurgents intent on undermining the governments on both sides of the border, as well as attacking the 70,000 international troops in Afghanistan. In order to coordinate efforts to patrol the region and fight terrorism, Afghanistan, Pakistan and the United States have established the first of six planned border coordination centers.The first center, along the fabled Khyber Pass on the Afghan side of the border, opened in late March. Here, Afghan, Pakistani and American forces work, live and eat together. They communicate in English, Dari and Pashto with the help of interpreters. Afghan Army Brigadier General Abdul Rahim Faizi Afghan Army Brigadier General Abdul Rahim Faizi says this allows soldiers from the three countries to gain mutual understanding by working side-by-side.General Faizi says, those working together in the coordination center can achieve more accurate aerial and artillery targeting of the common enemy. U.S. Army Brigadier General Mark Milley explains that this first center is helping to overcome problems that resulted from lack of coordination along the border, including friendly-fire incidents. "It coordinates activities between Pakistan, the Afghan national security forces, ISAF [International Security Assistance Force] Regional Command-East forces along the border, in order to prevent them from having incidents of conflict between each other and in order to focus their efforts against the enemy." For too long, the area has been a virtual no-man's land and disagreements remain on precise national boundaries. Afghan Brigadier General Faizi says the initial coordination center in the Khyber Pass is meant to reverse the natural advantage the enemy has enjoyed. General Faizi says the very difficult terrain has allowed terrorists to cross back and forth without detection. But the tripartite center allows coordination with local community sources, giving the armies the ability to respond immediately against those with ill intent. Each month, one-star generals from the three countries meet at the Khyber Pass to discuss how things are going and refine the process. There are calls for the Afghans and Pakistanis to also work with the international coalition for joint patrols along the border. U.S. Brig. Gen. Mark Milley, right, with Pakistani Army officer at the Khyber Pass Coordination Center in AfghanistanThe U.S. Army's General Milley says the border coordination centers could be a first step in that direction. "That may translate into joint military operations. It's hard to tell what direction that'll take and only time will tell. But that clearly is a possibility that the foundation of cooperation is being built."Experts say that any of the armies acting alone would not be able to police the 2,500 kilometer long border. General Milley says the NATO-led International Security Assistance Force, or ISAF, and the Afghan and Pakistani militaries must fight the border battle together. "This is a regional problem. This is a regional insurgency. It straddles both sides of an international border," he said. "And in order to have ultimate success at the end of the day, whenever the end of the day is, it's going to require a very cooperative effort between both Afghanistan and Pakistan and ISAF on both sides of this border simultaneously."The vested interest for the U.S.-led coalition and the NATO forces is not only the immediate neighborhood. Intelligence analysts say that by neutralizing insurgents along the border, they can prevent al-Qaida attacks in other parts of the world because the remote terrain remains a planning center and training ground for global terrorist missions.
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North Korea Threatens to Turn South Into 'Debris'
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Pyongyang's anger revolves mainly around leaflets that have been launched into the North recently by human rights groups
North Korea is warning South Korea of a pre-emptive strike that will turn the South into "debris," if Seoul does not stop what the North calls "a policy of confrontation." As VOA's Seoul Correspondent Kurt Achin reports, the North's anger revolves mainly around leaflets that have been launched into the North recently by human rights groups.South Korean AH-1S Cobra helicopter takes off during a drill at an army firing range in Yangpyeong, 28 Oct 2008North Korea threatened military force against South Korea, Tuesday, a day after South Korean civic groups sent tens of thousands of leaflets into the North by balloon.A commentary carried by North Korea's official news agency warned of an "advanced pre-emptive strike of our own style" that "will reduce everything... to debris, not just setting it on fire." That wording echoes threats from North Korea in previous years to turn the South Korean capital into a "sea of fire."North Korea has often denounced the administration of conservative South Korean President Lee Myung-bak as a "gang of traitors" - but Tuesday's statement uses some of the most explicit military-themed language since Mr. Lee took office in January. The commentary warns North Korea's attack would "turn out to be a just war... to build an independent reunified state."A day earlier, the North threatened to suspend a joint North-South industrial project, if Seoul did not prevent the ongoing launches of leaflets into the North by civic groups. That same day, human rights activists launched some 40,000 leaflets by helium balloon from waters east of the Korean Peninsula.The leaflets are sharply critical of North Korean leader Kim Jong Il and include information from recent reports that he may be recovering from a stroke.South Korean Unification Ministry Spokesman Kim Ho-nyoun says officials are trying to persuade the groups behind the leaflet launches to hold off.He says the government is asking the human rights groups for their help in easing tension. However, he says that scattering the leaflets is reasonable when it is done in a legal manner -- and that South Korea will act according to the law.Park Sang-hak is the president of the Seoul-based North Korea Freedom Coalition and a key organizing figure of the balloon launches.He says he will be meeting this week with officials from South Korea's presidential Blue House. However, he says he has no intention of stopping the balloon launches, which he says are legal.
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US Senator Found Guilty of Lying About Gifts
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US Senator Ted Stevens is convicted for lying about $250,000 in gifts he received from an oil contractor, including improvements on his Alaska home
U.S. Senator Ted Stevens (right) leaves federal court with his attorney after being convicted for lying about gifts he received from an oil contractor
U.S. Senator Ted Stevens has been found guilty on seven charges of lying about gifts he received.A jury in Washington convicted Stevens Monday after a month-long trial. He faces a maximum 35 years in prison, but federal sentencing guidelines could allow him a much shorter sentence, or even probation.The 84-year-old Republican senator from Alaska was charged with seven counts of making false statements on Senate financial disclosure forms.Prosecutors said he failed to report $250,000 in gifts from an oil contractor, including improvements on his Alaska home.The senator testified that he paid for the home-improvement services. Stevens, the longest-serving Republican in the U.S. Senate, is still eligible for re-election next week even as a convicted felon. He is in a tight race with Democrat Mark Begich, the mayor of Anchorage - Alaska's largest city. Stevens had pushed for a speedy trial in hopes of being ruled innocent before election day November 4.It will be up to the Senate to decide if he must leave office. He can be expelled only if two-thirds of the senators approve the move.This is the first time a U.S. Senator has been found guilty of a felony while in office since 1981, when a Democrat from the state of New Jersey, Harrison Williams, was convicted of bribery and conspiracy. He resigned from the Senate before senators could vote on expulsion. Some information for this report was provided by AP and Reuters.
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Rights Group Calls on Laos to Release Information on Hmong Protest Leaders
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Human Rights Watch says eight protest leaders and their families were sent back to Laos
A human rights group has called on the Lao government to release information regarding several Hmong refugees who led protests in Thailand earlier this year and were later repatriated to Laos. As Ron Corben reports from Bangkok, Human Rights Watch also wants Lao authorities to allow independent witnesses to verify the well being and whereabouts of Hmong refugees sent back to Laos.The report released Tuesday raises fresh concern over the whereabouts of five Hmong who led protests in Thailand in June. The refugees were protesting Thailand's policy of holding them in camps.The five were among 5,000 who marched at the Huay Nam Khao refugee camp, 370 kilometers north of Bangkok on June 20. Hmong refugees in Huay Nam Khao camp (File)The refugees had been held at the camp for more than a year. Afterward, 800 protesters were forcibly repatriated to Laos, while thousands more were returned to the camp. Human Rights Watch says eight protest leaders and their families were sent back to Laos. The report quotes witnesses as saying three of the men were later released from a prison in Laos after being detained for three months.Sunai Pasuk, a Human Rights Watch spokesman in Thailand, says the group is worried about the remaining five. "We have concern that leaders of Lao Hmong who have been politically active while they were in the shelter in Thailand may face prosecution after they were sent back to Laos. Now many of them have disappeared," said Sunai." "That has increased our concern."Hmong refugee families stand behind bars at a Thai detention centre in Nong Khai
province near Thai-Laos border (File)The report also criticizes Thailand's policy of blocking United Nations officials from verifying that Hmong who go back to Laos do so voluntarily.Thai foreign ministry officials say no one has been forced back to Laos.Sunai says the report repeats earlier requests for more openness. "What Human Rights Watch want from the Lao government is to provide transparency, to provide honest and transparent information regarding the whereabouts of the refugees, particularly the leaders of the Lao Hmong, and to allow for international agencies to have regular and unhindered access to the resettlement areas," added Sunai.During the Vietnam War, the Hmong fought alongside United States forces. After the war ended in 1975, many were forced to flee Laos, with thousands crossing into Thailand. Since then many have been granted homes in the U.S., Australia and other countries. Both Thailand and Laos say the current refugees are economic migrants, not victims of political persecution.
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Georgians Contemplate Future Five Years After Rose Revolution
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Life returns to normal in most of Georgia, two months after conflict with Russia; but scars of war are still fresh in people's minds
Its famous Rose Revolution in November 2003 was to usher in a new era for the former Soviet Republic of Georgia - an era of democracy and a path forward to eventual membership in the West's most prestigious political clubs - the European Union and NATO. Nearly five years later Georgia still faces a difficult course between East and West as the conflict with neighboring Russia in August proved. VOA's Sonja Pace reports from Tbilisi. Religious festival at Sveti Tskhoveli, GeorgiaLife has returned to normal in most of Georgia - two months after the conflict with neighboring Russia. But the scars of that war are still fresh in people's minds. One man said he remembers the oppression from the decades under Soviet rule. He said Russia is now doing the same thing - attacking its small neighbor. And a woman said she simply prays for peace.A simple wish - on the minds of many Georgians nowadays. Simmering tensions in the breakaway province of South Ossetia erupted into open conflict in early August, after the government in Tbilisi tried to re-take control of the region from Russian-backed separatists. Russia sent troops into the area and deep into Georgia. Even now Russian troops remain in South Ossetia and in the other breakaway enclave of Abkhazia in the northwest.Among Georgians - views about the war are mixed. Alexander RondeliThe president of the Georgian Foundation for Strategic and International Studies, Alexander Rondeli, said the conflict united Georgians and rallied support for President Mikhail Saakashvili."You know, Russian behavior has made Saakashvili's position stronger. If the Russians did not commit so many crimes on Georgian soil and if they behaved in a different way, Saakashvili's position would be weaker," he said. Leila GaprindashviliBut not everyone agrees. Sociologist Leila Gaprindashvili said she cannot see the benefits for the government's military action. "I think the conflict has led to a postponement of reconciliation with the people of South Ossetia and Abkhazia and with the process of return of these territories for a long time."Georgia received strong verbal support from the West during and after the conflict, and is getting financial support to rebuild its army and its damaged infrastructure, and to help civilians who had to flee their homes. But many question whether its actions have helped or hindered Georgia's chances of joining the European Union and NATO. Moscow opposes Georgian membership. And, many see its incursion into Georgia as a signal that Russia is willing to use military force to make that point.Lawrence Sheets is the senior Caucasus analyst of the International Crisis Group. He said the war could have longer-term negative effects. "What a conflict situation like this does is decrease the attractiveness of Georgia as a transit state, which in turn has the potential to affect its economy."Georgia relies heavily on trade, especially in its role as conduit for oil and gas from east to west.But in November, as Georgians commemorate the 5th anniversary of their Rose Revolution, some will be asking how far they have come and where they are going.During the revolution, tens of thousands took to the streets to protest rigged elections and demand a change in government and direction. The revolution brought President Saakashvili to power with promises of democracy, transparency, economic opportunities and a decisive turn westward.Sheets said while some promises of the Rose Revolution have been fulfilled, others have not. "What the government needs to do is to open up the media. The atmosphere involving television is one of increasing government control in recent months and in recent years and that has to be reversed. The second thing the Georgian government must do is reform the court system, because the court system is not independent in this country," he said.Some say - with the scars of the conflict with Russia still fresh - an economic downturn or delays in EU or NATO membership could have Georgians asking what happened to the promises of their Rose Revolution.
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Rain Suspends World Series Game 5
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Phillies, Rays tied 2-all in sixth inning when field conditions ruled unplayable
Heavy rain forced the suspension of Game Five of Major League Baseball's World Series in Philadelphia, Monday night. The host Philadelphia Phillies and Tampa Bay Rays were tied a 2-all in the sixth inning when field conditions were ruled unplayable. VOA Sports Editor Parke Brewer was there and has a report.Workers deploy rain tarp on field, 27 Oct 2008Early in the game there was just light rain, but by the third inning it was pouring and often blowing sideways in cold, gusting winds. The temperature had fallen to four degrees, so it was terrible weather for baseball, much less an important World Series game.The host Phillies jumped out to a 2-0 lead in the first inning, thanks to two walks, a hit batsman and a two-run single by outfielder Shane Victorino.Tampa Bay scored one run in the fourth inning on a single by third baseman Evan Longoria, who drove in first baseman Carlos Pena, who had doubled. Pena also drove in the run in the sixth inning that tied the game at 2-all, and when the Rays made the final out in their half of that inning, the game was stopped.Umpire Tim Tschida said the grounds crews had done an excellent job to allow the game to go on as long as it did.Bud Selig, center, talks to reporters during press conference after postponing World Series Game 5, 27 Oct 2008"They groomed the field after the fourth inning every half inning, and they were keeping up with it," he said. "And, then, the velocity of the rain made it such than when we were playing the top of the sixth inning, it became harder and harder."So it was at that point the game was stopped, and 30 minutes later Baseball Commissioner Bud Selig made the decision to call it a night. They hope to resume play Tuesday night at about 8:30 p.m., but rain remains in the forecast.Selig said there was no consideration to trying to resume play during daytime hours, Tuesday. "You know these fans obviously came and bought tickets for a night game, so they deserve to come back and see a night game," he said. "It'll be the same starting time, whether it's Tuesday night, or Wednesday night or Thursday night or whenever."Fans seek cover from rain during World Series Game 5, 27 Oct. 2008 Never in the history of the World Series has there been a game shortened by rain. The Philadelphia Phillies lead this best-of-seven Series, three games to one, and are hoping they can clinch their first baseball championship since 1980 before their home fans. Game Five will resume in Philadelphia - right where it left off in the middle of the sixth inning with the Phillies ready to bat. If the game concludes Tuesday and the Rays win, Game Six would be back in Florida, Wednesday night.
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