The regrouping process of Nepal' s People's Liberation Army (PLA) is almost nearing its conclusion.
PLA was the military wing of the Unified Communist Party of Nepal-Maoist (UCPN-M) when the party was at civil conflict.
A total of seven cantonments in different parts of the country which are housing around 19,500 PLA combatants after the commencement of the peace process in 2006 underwent the regrouping process which began on Nov. 18.
"The process now only remains in the fourth division, while it has been complete in the rest of the other cantonments," Coordinator of the Secretariat of the Army Integration Special Committee, Balananda Sharma told Xinhua on Monday.
The regrouping process was expected to end by Monday evening. However, due to some technical difficulties and hindrance that was created by some section of the PLA members due to dissatisfaction of few issues in the regrouping process, it could not be concluded as per the slated time.
"The regrouping process can be expected to end as of Tuesday," Sharma said.
As per the data until Sunday evening, 14,447 PLA members have undergone the regrouping process, where majority of them, about 60 percent, chose to be integrated, and around 40 percent opted for retirement.
"As of the data collection of Sunday evening, only two PLA members have chosen rehabilitation package," Sharma said.
Officials involved in the categorization and UCPN-Maoist commanders attribute different reasons for the unexpected number of the PLA opting for integration.
According to Sharma, the PLA members' lack of trust upon political parties was the main reason for them not to chose the rehabilitation package.
Sharma further said that committee is visiting the PLA members who are sick, mutilated, pregnant or injured in their own places to include them in the regrouping process.
Meanwhile, a group of PLA members led by Deputy Commander Udaya Bahadur Chalaune at the Third Division camp have expressed dissatisfaction over some issues. Chalaune is in line with the hardliners from the UCPN-M led by Party Vice President Mohan Vaidya who have been expressing his disapproval to the seven-point peace agreement signed by the major political parties on Nov. 1.
The Chalune group has presented a six-point demand which includes that the entire money provided in the rehabilitation package should be soon provided at once to the members opting for rehabilitation.
Not all the UCPN-M combatants going for integration will get place in the 6,500 quota agreed among parties for the PLA under a new directorate of the Nepal Army. The directorate will be formed to accommodate these combatants and the national army will choose the reserved number of the PLA combatants applying its own standard norms.
Editor: An
English.news.cn 2011-11-28 19:06:50 FeedbackPrintRSS
by Punjita Pradhan
KATHMANDU, Nov. 28 (Xinhua)
Monday, November 28, 2011
Monday, November 7, 2011
Iran allocates credit line to Cuba
Iran allocates credit line to Cuba
Iran has allocated a credit line of 500 million euros (about 685 million U.S. dollars) to Cuba, local Tehran Times daily reported Thursday.
Abel Salas, vice president of Cuba's National Institute of Water Resources, announced the allocation Wednesday at a meeting with Iran's deputy energy minister in Tehran.
Salas expressed hope that a portion of the credit line would be used for the reconstruction of Cuba's energy system.
Iran and Cuba signed a protocol for economic and trade cooperation in September during Iranian Vice President Mohammad Reza Rahimi's visit to Havana. The protocol stipulated that Iran would expand its credit to Cuba from 270 million to 680 million U. S. dollars.
It also included accords on the two countries' collaboration in industry, energy, trade, health, finance, biotechnology and hydraulics.
Iran has been producing equipment for rail systems and synthetic media for the Cuban market under a 2009 agreement. The expansion of credit will also support the program.
Editor: An
English.news.cn 2011-11-03 17:13:10 FeedbackPrintRSS
TEHRAN, Nov. 3 (Xinhua)
Iran has allocated a credit line of 500 million euros (about 685 million U.S. dollars) to Cuba, local Tehran Times daily reported Thursday.
Abel Salas, vice president of Cuba's National Institute of Water Resources, announced the allocation Wednesday at a meeting with Iran's deputy energy minister in Tehran.
Salas expressed hope that a portion of the credit line would be used for the reconstruction of Cuba's energy system.
Iran and Cuba signed a protocol for economic and trade cooperation in September during Iranian Vice President Mohammad Reza Rahimi's visit to Havana. The protocol stipulated that Iran would expand its credit to Cuba from 270 million to 680 million U. S. dollars.
It also included accords on the two countries' collaboration in industry, energy, trade, health, finance, biotechnology and hydraulics.
Iran has been producing equipment for rail systems and synthetic media for the Cuban market under a 2009 agreement. The expansion of credit will also support the program.
Editor: An
English.news.cn 2011-11-03 17:13:10 FeedbackPrintRSS
TEHRAN, Nov. 3 (Xinhua)
UN aviation body opposes EU emission trading scheme extension
UN aviation body opposes EU emission trading scheme extension
The United Nations' aviation industry group voiced strong opposition to the European Union (EU) plan to include non-EU carriers in its Emission Trading Scheme (ETS) on Wednesday.
The International Civil Aviation Organization (ICAO), which coordinates aviation industry development among its 190 member states, adopted a resolution at a meeting held in Montreal, which for the first time reveals clearly its opposition to the EU move.
The ICAO urged the EU and its member states to work together with the international community to address aviation emissions.
The decision was based on a working paper, "Inclusion of International Civil Aviation in the EU ETS and Its Impact," presented jointly by 26 ICAO member states, including China.
The working paper points out the EU passed the legislation to extend its ETS to the aviation industry from next year unilaterally and without regard to non-EU states' concerns.
The ICAO believes that the EU move violated a cardinal principle of state sovereignty laid down in the Convention of the organization, which stipulates that "the contracting States recognize that every State has complete and exclusive sovereignty over the airspace above its territory."
It added that the EU move also violated the provisions of the United Nations Framework Convention on Climate Change (UNFCCC).
Ma Tao, a representative of the People's Republic of China at the ICAO Council, said the EU's move to include international aviation into its ETS contravened relevant international laws and negated efforts made to tackle aviation emissions by other states, especially developing states.
"China opposes such unilateral actions firmly," he said. "As for the limitation and reduction of international aviation emissions, China believes the most feasible way is to strive for agreement or consensus through multilateral consultation and negotiations."
Representatives of India, the United States, Brazil, South Africa, Nigeria and other states, which jointly presented the working paper, echoed China's stand at the meeting.
They pointed out that EU's unilateral action ignored non-EU states' obligations and concerns, took no consideration of different social conditions and economic circumstances of states and would undermine the sustainable growth of international aviation.
The Council's eight EU member states defended the EU position, opposed the resolution and challenged the legality of the working paper.
After fierce debates, the Council finally adopted the working paper, the resolution and a declaration.
Ma said after the meeting that China had attached great importance to energy conservation and emissions reductions as well as tackling climate change in recent years.
With the constant growth of air traffic, he said, China also had taken proactive action in the conservation of aviation energy and emissions, which had produced remarkable results.
"After reducing the energy intensity (fuel consumed per revenue tonne kilometer) and carbon intensity (CO2 emitted per revenue tonne kilometer) by 9 percent in 2010 compared with the 2005 level, China's civil aviation has set its 2020 goal at 22 percent against the 2005 baseline," he said.
Editor: An
English.news.cn 2011-11-03 17:09:54 FeedbackPrintRSS
MONTREAL, Canada, Nov. 2 (Xinhua)
The United Nations' aviation industry group voiced strong opposition to the European Union (EU) plan to include non-EU carriers in its Emission Trading Scheme (ETS) on Wednesday.
The International Civil Aviation Organization (ICAO), which coordinates aviation industry development among its 190 member states, adopted a resolution at a meeting held in Montreal, which for the first time reveals clearly its opposition to the EU move.
The ICAO urged the EU and its member states to work together with the international community to address aviation emissions.
The decision was based on a working paper, "Inclusion of International Civil Aviation in the EU ETS and Its Impact," presented jointly by 26 ICAO member states, including China.
The working paper points out the EU passed the legislation to extend its ETS to the aviation industry from next year unilaterally and without regard to non-EU states' concerns.
The ICAO believes that the EU move violated a cardinal principle of state sovereignty laid down in the Convention of the organization, which stipulates that "the contracting States recognize that every State has complete and exclusive sovereignty over the airspace above its territory."
It added that the EU move also violated the provisions of the United Nations Framework Convention on Climate Change (UNFCCC).
Ma Tao, a representative of the People's Republic of China at the ICAO Council, said the EU's move to include international aviation into its ETS contravened relevant international laws and negated efforts made to tackle aviation emissions by other states, especially developing states.
"China opposes such unilateral actions firmly," he said. "As for the limitation and reduction of international aviation emissions, China believes the most feasible way is to strive for agreement or consensus through multilateral consultation and negotiations."
Representatives of India, the United States, Brazil, South Africa, Nigeria and other states, which jointly presented the working paper, echoed China's stand at the meeting.
They pointed out that EU's unilateral action ignored non-EU states' obligations and concerns, took no consideration of different social conditions and economic circumstances of states and would undermine the sustainable growth of international aviation.
The Council's eight EU member states defended the EU position, opposed the resolution and challenged the legality of the working paper.
After fierce debates, the Council finally adopted the working paper, the resolution and a declaration.
Ma said after the meeting that China had attached great importance to energy conservation and emissions reductions as well as tackling climate change in recent years.
With the constant growth of air traffic, he said, China also had taken proactive action in the conservation of aviation energy and emissions, which had produced remarkable results.
"After reducing the energy intensity (fuel consumed per revenue tonne kilometer) and carbon intensity (CO2 emitted per revenue tonne kilometer) by 9 percent in 2010 compared with the 2005 level, China's civil aviation has set its 2020 goal at 22 percent against the 2005 baseline," he said.
Editor: An
English.news.cn 2011-11-03 17:09:54 FeedbackPrintRSS
MONTREAL, Canada, Nov. 2 (Xinhua)
Lower crop output may disturb food security, raise prices in Indonesia
Lower crop output may disturb food security, raise prices in Indonesia
The lower production of key crops in Indonesia this year coupled with the global rice shortage may threaten food security and boost prices, as the country counters the risks of global weather uncertainty amid the global economic slowdown, local media reported on Thursday.
Economists urged local authorities to strengthen domestic supply so prices and people's purchasing power in the domestic consumption-reliant economy could remain stable, while imports, especially rice, should be the last resort, given the volatile international prices.
Indonesia's rice production is forecast to slide 1.63 percent, dropping 1.08 million tons to 65.39 million tons this year over declines in farmland area and productivity, the Central Statistics Agency (BPS) announced on Tuesday.
Extreme weather had decreased production and hampered supply of rice in Indonesia from the end of last year to January this year, shooting inflation to a 21-month high of 7.02 percent in January.
Corn production was also predicted to be down by 5.99 percent, or 1.1 million tons, to 17.23 million tons, as well as soybeans by 4.08 percent, or 36,960 tons, to 870,070 tons, both due to smaller farmland area despite increasing productivity.
"The consequence would be soaring prices. By cycle, prices would increase significantly from November through January, and inflation will be higher because the contribution of volatile food prices to inflation is at 35 percent," Bustanul Arifin, an economist at the Institute for Development of Economics and Finance (INDEF) was quoted by the Jakarta Post as saying.
The government has been in talks with several countries, including Thailand and Vietnam for importation of rice. Both of them have signed deals with Indonesia over their availability to export one million tons of rice to Indonesia annually.
Indonesia's annual inflation eased to 4.42 percent in October as core inflation dove on sliding gold jewelry prices during the month, but rice, which weighted heavily on the nation's inflation basket, has begun to pressure the headline inflation, contributing 0.08 percent to consumer prices increase.
The country's prices of medium rice increased 6.54 percent from a year earlier to 7,951 rupiah (0.88 U.S. dollar) per kilogram in October, BPS data shows.
"This is affecting our food security. Moreover, external developments are uncontrollable, for instance [flooding in] Thailand affects food supply not only for Indonesia but for the international market," said Latif Adam, an economist at the Indonesian Institute of Sciences (LIPI).
Indonesia Logistic Agency has over 1.5 million rice stockpile and aims to raise it by up to two million tons this year, Coordinating Minister for Economic Hatta Rajasa has said.
Indonesia's population of 240 million needs 139 kilograms of rice per capita, while corn and soybean consumption was respectively at 13 million kilograms and 2.4 million kilograms per year.
From January to September this year, the country imported 1.87 million tons of rice, 2.77 million tons of corn and 1.51 million tons of soybeans.
"Imports make us reliant on external factors that are uncontrollable, especially with climate anomalies," Adam said.
Editor: Xiong Tong
English.news.cn 2011-11-03 13:53:22 FeedbackPrintRSS
JAKARTA, Nov. 3 (Xinhua)
The lower production of key crops in Indonesia this year coupled with the global rice shortage may threaten food security and boost prices, as the country counters the risks of global weather uncertainty amid the global economic slowdown, local media reported on Thursday.
Economists urged local authorities to strengthen domestic supply so prices and people's purchasing power in the domestic consumption-reliant economy could remain stable, while imports, especially rice, should be the last resort, given the volatile international prices.
Indonesia's rice production is forecast to slide 1.63 percent, dropping 1.08 million tons to 65.39 million tons this year over declines in farmland area and productivity, the Central Statistics Agency (BPS) announced on Tuesday.
Extreme weather had decreased production and hampered supply of rice in Indonesia from the end of last year to January this year, shooting inflation to a 21-month high of 7.02 percent in January.
Corn production was also predicted to be down by 5.99 percent, or 1.1 million tons, to 17.23 million tons, as well as soybeans by 4.08 percent, or 36,960 tons, to 870,070 tons, both due to smaller farmland area despite increasing productivity.
"The consequence would be soaring prices. By cycle, prices would increase significantly from November through January, and inflation will be higher because the contribution of volatile food prices to inflation is at 35 percent," Bustanul Arifin, an economist at the Institute for Development of Economics and Finance (INDEF) was quoted by the Jakarta Post as saying.
The government has been in talks with several countries, including Thailand and Vietnam for importation of rice. Both of them have signed deals with Indonesia over their availability to export one million tons of rice to Indonesia annually.
Indonesia's annual inflation eased to 4.42 percent in October as core inflation dove on sliding gold jewelry prices during the month, but rice, which weighted heavily on the nation's inflation basket, has begun to pressure the headline inflation, contributing 0.08 percent to consumer prices increase.
The country's prices of medium rice increased 6.54 percent from a year earlier to 7,951 rupiah (0.88 U.S. dollar) per kilogram in October, BPS data shows.
"This is affecting our food security. Moreover, external developments are uncontrollable, for instance [flooding in] Thailand affects food supply not only for Indonesia but for the international market," said Latif Adam, an economist at the Indonesian Institute of Sciences (LIPI).
Indonesia Logistic Agency has over 1.5 million rice stockpile and aims to raise it by up to two million tons this year, Coordinating Minister for Economic Hatta Rajasa has said.
Indonesia's population of 240 million needs 139 kilograms of rice per capita, while corn and soybean consumption was respectively at 13 million kilograms and 2.4 million kilograms per year.
From January to September this year, the country imported 1.87 million tons of rice, 2.77 million tons of corn and 1.51 million tons of soybeans.
"Imports make us reliant on external factors that are uncontrollable, especially with climate anomalies," Adam said.
Editor: Xiong Tong
English.news.cn 2011-11-03 13:53:22 FeedbackPrintRSS
JAKARTA, Nov. 3 (Xinhua)
Chile alert to negative impact of financial crisis
Chile alert to negative impact of financial crisis
The Chilean government said Wednesday that the country remains vulnerable to negative impacts of the ongoing global financial crisis despite a healthy macroeconomic management and a sound fiscal policy.
Government spokesman Andres Chadwick told visiting members of the European Parliament that despite a forecast of healthy economic growth of about 5 percent for 2012 and rising employment figures, "at the government level we want to be very conservative and prudent at this time and take all the possible economic measures."
The meeting between the members of the European and Chilean parliaments coincided with the G20 summit in the French city of Cannes this week, in which world major economies will discuss how to deal with the ongoing crisis in the U.S. and the eurozone.
"We have a very delicate international economic situation which the government is particularly concerned about and it would be illusive to think that our country is completely protected from this," said Chadwick.
The Chilean government has taken a series of measures to ensure that financial markets are protected with higher liquidity and flexibility.
The government has made a large scale of public savings from recent years' commodity boom with record prices for copper and other mining products.
Independent financial analysts estimate that Chile's public savings stand at over 20 billion U.S. dollars which will help keep the domestic economy afloat in face of a serious slowdown in exports.
The booming economy and industrialization in Chile have made the South American nation boasting the highest living standards across Latin America, according to the 2011 Human Development Report released on Wednesday by the United Nations Development Program (UNDP).
The UNDP ranked Chile as the world's 44th best country to live in out of the 187 countries included. Norway was ranked the best in the world while the Democratic Republic of the Congo was rated lowest.
Chadwick said the Chilean government was pleased with the efforts made by the European economies to contain the debt crisis there.
The European Union is Chile's second largest trading partner after China with an estimated bilateral trade of 19.5 billion U.S. dollars in 2010.
English.news.cn 2011-11-03 10:56:59 FeedbackPrintRSS
SANTIAGO, Nov. 2 (Xinhua)
The Chilean government said Wednesday that the country remains vulnerable to negative impacts of the ongoing global financial crisis despite a healthy macroeconomic management and a sound fiscal policy.
Government spokesman Andres Chadwick told visiting members of the European Parliament that despite a forecast of healthy economic growth of about 5 percent for 2012 and rising employment figures, "at the government level we want to be very conservative and prudent at this time and take all the possible economic measures."
The meeting between the members of the European and Chilean parliaments coincided with the G20 summit in the French city of Cannes this week, in which world major economies will discuss how to deal with the ongoing crisis in the U.S. and the eurozone.
"We have a very delicate international economic situation which the government is particularly concerned about and it would be illusive to think that our country is completely protected from this," said Chadwick.
The Chilean government has taken a series of measures to ensure that financial markets are protected with higher liquidity and flexibility.
The government has made a large scale of public savings from recent years' commodity boom with record prices for copper and other mining products.
Independent financial analysts estimate that Chile's public savings stand at over 20 billion U.S. dollars which will help keep the domestic economy afloat in face of a serious slowdown in exports.
The booming economy and industrialization in Chile have made the South American nation boasting the highest living standards across Latin America, according to the 2011 Human Development Report released on Wednesday by the United Nations Development Program (UNDP).
The UNDP ranked Chile as the world's 44th best country to live in out of the 187 countries included. Norway was ranked the best in the world while the Democratic Republic of the Congo was rated lowest.
Chadwick said the Chilean government was pleased with the efforts made by the European economies to contain the debt crisis there.
The European Union is Chile's second largest trading partner after China with an estimated bilateral trade of 19.5 billion U.S. dollars in 2010.
English.news.cn 2011-11-03 10:56:59 FeedbackPrintRSS
SANTIAGO, Nov. 2 (Xinhua)
Fed lowers U.S. economic outlook, open to further stimulus
Fed lowers U.S. economic outlook, open to further stimulus
The U.S. Federal Reserve on Wednesday downwardly revised its projection of the country's economic outlook and reaffirmed openness to further stimulating policy if needed.
The economy is expected to grow by 1.6 to 1.7 percent in 2011 and 2.5 percent to 2.9 percent next year, said the U.S. central bank in an update projection released at a press conference after the meeting of the Federal Open Market Committee (FOMC), the interest rate policy making body of the Fed.
The economic growth remains "frustratingly slow" although it strengthened in the third quarter, Fed Chairman Ben Bernanke told reporters.
He said the central bank is looking for growth and the job market is expected to improve gradually over the next two years, but at a sluggish pace.
In its June projection, the Fed said that the economy would increase by 2.7 percent to 2.9 percent in 2011, and 3.3 percent to 3.7 percent in 2012.
In Wednesday's forecast, the central bank saw the unemployment rate will stay at 9.0 percent to 9.1 percent in 2011, and 8.5 percent to 8.7 percent in 2012. These numbers are worse than the June projection, which expected the widely watched unemployment rate to fall to 8.6 percent to 8.9 percent in 2011, and 7.8 percent to 8.2 percent in 2012.
In a statement released before the press conference, the Fed said that "economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year."
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The U.S. unemployment rate stayed at 9.1 percent in September, with 14 million Americans out of work.
The Fed continued to see "a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent months." Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weak, and the housing sector remains depressed.
The central bank also noted longer-term inflation expectations have remained stable.
As a result of the current economic performance, the Fed decided to keep its current programs to help the economy grow.
In its previous meetings, the FOMC decided to keep the interest rate at the historic low level of zero to 0.25 percent and to extend the average maturity of its holdings of government securities, a policy called "operation twist" to keep the low interest rate environment in order to boost the recovery.
The Fed expressed Wednesday that it is open to take new stimulus if the economic conditions deteriorate in the future.
"We remain prepared to take action as appropriate to make sure the recovery continues," Bernanke said.
But he refused to provide more details about the new measures.
The Fed had implemented two rounds of government securities buying program, known as quantitative easing policy after this round of financial crisis burst in 2008.
Many economists criticized that the Fed's monetary polices are not effective.
Bernanke defended himself Wednesday by saying that the economy and financial market conditions would have been worse if without the Fed's actions.
The U.S. economy grew only 0.9 percent in the first half of this year before rising 2.5 percent in the third quarter. The market held that the growth rate in the fourth quarter would be around 2.5 percent and 3 percent, a pace not fast enough to bring down the high unemployment rate.
To promote faster economic growth and create more jobs has become the top priority of U.S. macroeconomic policy makers.
English.news.cn 2011-11-03 06:44:18
The U.S. Federal Reserve on Wednesday downwardly revised its projection of the country's economic outlook and reaffirmed openness to further stimulating policy if needed.
The economy is expected to grow by 1.6 to 1.7 percent in 2011 and 2.5 percent to 2.9 percent next year, said the U.S. central bank in an update projection released at a press conference after the meeting of the Federal Open Market Committee (FOMC), the interest rate policy making body of the Fed.
The economic growth remains "frustratingly slow" although it strengthened in the third quarter, Fed Chairman Ben Bernanke told reporters.
He said the central bank is looking for growth and the job market is expected to improve gradually over the next two years, but at a sluggish pace.
In its June projection, the Fed said that the economy would increase by 2.7 percent to 2.9 percent in 2011, and 3.3 percent to 3.7 percent in 2012.
In Wednesday's forecast, the central bank saw the unemployment rate will stay at 9.0 percent to 9.1 percent in 2011, and 8.5 percent to 8.7 percent in 2012. These numbers are worse than the June projection, which expected the widely watched unemployment rate to fall to 8.6 percent to 8.9 percent in 2011, and 7.8 percent to 8.2 percent in 2012.
In a statement released before the press conference, the Fed said that "economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year."
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The U.S. unemployment rate stayed at 9.1 percent in September, with 14 million Americans out of work.
The Fed continued to see "a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent months." Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weak, and the housing sector remains depressed.
The central bank also noted longer-term inflation expectations have remained stable.
As a result of the current economic performance, the Fed decided to keep its current programs to help the economy grow.
In its previous meetings, the FOMC decided to keep the interest rate at the historic low level of zero to 0.25 percent and to extend the average maturity of its holdings of government securities, a policy called "operation twist" to keep the low interest rate environment in order to boost the recovery.
The Fed expressed Wednesday that it is open to take new stimulus if the economic conditions deteriorate in the future.
"We remain prepared to take action as appropriate to make sure the recovery continues," Bernanke said.
But he refused to provide more details about the new measures.
The Fed had implemented two rounds of government securities buying program, known as quantitative easing policy after this round of financial crisis burst in 2008.
Many economists criticized that the Fed's monetary polices are not effective.
Bernanke defended himself Wednesday by saying that the economy and financial market conditions would have been worse if without the Fed's actions.
The U.S. economy grew only 0.9 percent in the first half of this year before rising 2.5 percent in the third quarter. The market held that the growth rate in the fourth quarter would be around 2.5 percent and 3 percent, a pace not fast enough to bring down the high unemployment rate.
To promote faster economic growth and create more jobs has become the top priority of U.S. macroeconomic policy makers.
English.news.cn 2011-11-03 06:44:18
Fed lowers U.S. economic growth forecast
Fed lowers U.S. economic growth forecast
The U.S. economy is expected to grow by 1.6 to 1.7 percent in 2011, a downward revision of the previous projection, said the Federal Reserve on Wednesday.
The economy is expected to grow by 2.5 percent to 2.9 percent next year, said the U.S. central bank in an update projection released at a press conference after the meeting of its interest rate policymaking body, the Federal Open Market Committee (FOMC).
The U.S. economic growth remains "frustratingly slow" although it strengthened in the third quarter, said Fed Chairman Ben Bernanke.
He said the central bank is looking for growth and the job market to improve gradually over the next two years, but at a sluggish pace.
In its June projection, the Fed said that the economy would increase by 2.7 percent to 2.9 percent in 2011, and 3.3 percent to 3.7 percent in 2012.
In Wednesday's forecast, the central bank expects the unemployment rate to keep at 9.0 percent to 9.1 percent in 2011, and 8.5 percent to 8.7 percent in 2012. These numbers are also higher than the June projection, which expected the widely-watched jobless rate to fall to 8.6 percent to 8.9 percent in 2011, and 7. 8 percent to 8.2 percent in 2012.
In a statement released before the press conference, the Fed said that "economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year."
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The Fed continues to see "a moderate pace of economic growth over coming quarters," and "consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent month." Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weak, and the housing sector remains depressed.
The central bank also noted that longer-term inflation expectations have remained stable.
Given the current economic performance, the Fed decided to keep its current programs to help the economy grow.
At its previous meetings, the FOMC decided to keep the interest rate at a historically low level and to extend the average maturity of its holdings of government securities, a policy seen as a stimulus measure to boost the economy.
Editor: yan
English.news.cn 2011-11-03 02:13:49
The U.S. economy is expected to grow by 1.6 to 1.7 percent in 2011, a downward revision of the previous projection, said the Federal Reserve on Wednesday.
The economy is expected to grow by 2.5 percent to 2.9 percent next year, said the U.S. central bank in an update projection released at a press conference after the meeting of its interest rate policymaking body, the Federal Open Market Committee (FOMC).
The U.S. economic growth remains "frustratingly slow" although it strengthened in the third quarter, said Fed Chairman Ben Bernanke.
He said the central bank is looking for growth and the job market to improve gradually over the next two years, but at a sluggish pace.
In its June projection, the Fed said that the economy would increase by 2.7 percent to 2.9 percent in 2011, and 3.3 percent to 3.7 percent in 2012.
In Wednesday's forecast, the central bank expects the unemployment rate to keep at 9.0 percent to 9.1 percent in 2011, and 8.5 percent to 8.7 percent in 2012. These numbers are also higher than the June projection, which expected the widely-watched jobless rate to fall to 8.6 percent to 8.9 percent in 2011, and 7. 8 percent to 8.2 percent in 2012.
In a statement released before the press conference, the Fed said that "economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year."
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The Fed continues to see "a moderate pace of economic growth over coming quarters," and "consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent month." Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weak, and the housing sector remains depressed.
The central bank also noted that longer-term inflation expectations have remained stable.
Given the current economic performance, the Fed decided to keep its current programs to help the economy grow.
At its previous meetings, the FOMC decided to keep the interest rate at a historically low level and to extend the average maturity of its holdings of government securities, a policy seen as a stimulus measure to boost the economy.
Editor: yan
English.news.cn 2011-11-03 02:13:49
Fed says U.S. economy strengthened in Q3
Fed says U.S. economy strengthened in Q3
The U.S. economy was strengthening in the third quarter despite continuing weak labor market, said the Federal Reserve on Wednesday, holding off on any new actions to boost the growth.
"Economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year," the Fed noted in a statement released after the meeting of the Federal Open Market Committee (FOMC), the interest rate policy making body of the central bank..
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The Fed continued to see "a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent month". Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weal, and the housing sector remains depressed.
The central bank also noted longer-term inflation expectations have remained stable.
As a result of the current economic performance, the Fed decided to keep its current programs to help the economy grow.
In its previous meetings, the FOMC decided to keep the interest rate at historic low level and to extend the average maturity of its holdings of government securities.
English.news.cn 2011-11-03 01:23:16
The U.S. economy was strengthening in the third quarter despite continuing weak labor market, said the Federal Reserve on Wednesday, holding off on any new actions to boost the growth.
"Economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year," the Fed noted in a statement released after the meeting of the Federal Open Market Committee (FOMC), the interest rate policy making body of the central bank..
However, "recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," said the Fed.
The Fed continued to see "a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually."
Based on information received since the FOMC met in September, the Fed saw "household spending has increased at a somewhat faster pace in recent month". Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weal, and the housing sector remains depressed.
The central bank also noted longer-term inflation expectations have remained stable.
As a result of the current economic performance, the Fed decided to keep its current programs to help the economy grow.
In its previous meetings, the FOMC decided to keep the interest rate at historic low level and to extend the average maturity of its holdings of government securities.
English.news.cn 2011-11-03 01:23:16
U.S. federal govt to borrow $72 bln in November
U.S. federal govt to borrow $72 bln in November
The U.S. Treasury Department on Wednesday announced to offer 72 billion dollars of Treasury securities to refund the federal government's fiscal imbalance.
The 72-billion-dollar securities will refund approximately 23.9 billion dollars of securities maturing on Nov.15, 2011. This will raise approximately 48.1 billion dollars of new cash, said the department in its November 2011 quarterly refunding statement.
The newly offering securities include a 3-year note in the amount of 32 billion dollars, maturing Nov.15 2014; a 10-year note in the amount of 24 billion and a 30-year bond in the amount of 16 billion.
According to the August 2011 quarterly refunding, U.S. Treasury indicated that it expected to modestly decrease offering amounts for notes and bonds in the coming months. Given the current range of potential fiscal policy outcomes, Treasury said it is prudent to hold offering sizes for notes and bonds stable over the near term.
The U.S. federal government registered a nearly 1.3 trillion U. S. dollars budget deficit for the 2011 fiscal year ending September, fresh evidence of the mounting budgetary pressure facing the world's largest economy.
Treasury Secretary Timothy Geithner said earlier this year that the U.S. government borrows about 40 cents on every dollar it spends.
Editor: Chen Zhi
English.news.cn 2011-11-03 00:14:21 FeedbackPrintRSS
WASHINGTON, Nov. 2 (Xinhua)
The U.S. Treasury Department on Wednesday announced to offer 72 billion dollars of Treasury securities to refund the federal government's fiscal imbalance.
The 72-billion-dollar securities will refund approximately 23.9 billion dollars of securities maturing on Nov.15, 2011. This will raise approximately 48.1 billion dollars of new cash, said the department in its November 2011 quarterly refunding statement.
The newly offering securities include a 3-year note in the amount of 32 billion dollars, maturing Nov.15 2014; a 10-year note in the amount of 24 billion and a 30-year bond in the amount of 16 billion.
According to the August 2011 quarterly refunding, U.S. Treasury indicated that it expected to modestly decrease offering amounts for notes and bonds in the coming months. Given the current range of potential fiscal policy outcomes, Treasury said it is prudent to hold offering sizes for notes and bonds stable over the near term.
The U.S. federal government registered a nearly 1.3 trillion U. S. dollars budget deficit for the 2011 fiscal year ending September, fresh evidence of the mounting budgetary pressure facing the world's largest economy.
Treasury Secretary Timothy Geithner said earlier this year that the U.S. government borrows about 40 cents on every dollar it spends.
Editor: Chen Zhi
English.news.cn 2011-11-03 00:14:21 FeedbackPrintRSS
WASHINGTON, Nov. 2 (Xinhua)
OECD sees highest inflation rate in September since October 2008
OECD sees highest inflation rate in September since October 2008
Consumer prices in the area of the Organization for Economic Cooperation and Development (OECD) rose by 3.3 percent in the year to September 2011, up by 0.1 percentage point compared with August, the Paris-based organization said Wednesday.
The September figure was the highest rate since October 2008 on year-on-year basis, while excluding food and energy, the annual inflation rate rose by 1.9 percent in September, also up by 0.1 percentage point compared with that in August -- the highest rate since April 2009, according to a monthly report of the OECD.
During the period, energy prices rose by 14.2 percent, up from 13.5 percent in the year to August but the increase in food prices slowed to 4.2 percent in the year to September, down from 4.6 percent in August.
Annual inflation of the euro area accelerated to 3.0 percent in September, up from 2.5 percent in August, the highest rate since October 2008.
Country by country, Turkey has the highest inflation rate at 6.2 percent in September with Iceland following it with a 5.7 percent increase in consumer prices.
Compared to the previous month, consumer prices in the OECD area rose by 0.2 percent in September 2011. They rose by 0.7 percent in Britain, 0.2 percent in Canada and the United States, 0.1 percent in Germany, were stable in Italy and Japan but decreased by 0.1 percent in France.
Editor: Chen Zhi
English.news.cn 2011-11-02 23:46:44 FeedbackPrintRSS
PARIS, Nov. 2 (Xinhua)
Consumer prices in the area of the Organization for Economic Cooperation and Development (OECD) rose by 3.3 percent in the year to September 2011, up by 0.1 percentage point compared with August, the Paris-based organization said Wednesday.
The September figure was the highest rate since October 2008 on year-on-year basis, while excluding food and energy, the annual inflation rate rose by 1.9 percent in September, also up by 0.1 percentage point compared with that in August -- the highest rate since April 2009, according to a monthly report of the OECD.
During the period, energy prices rose by 14.2 percent, up from 13.5 percent in the year to August but the increase in food prices slowed to 4.2 percent in the year to September, down from 4.6 percent in August.
Annual inflation of the euro area accelerated to 3.0 percent in September, up from 2.5 percent in August, the highest rate since October 2008.
Country by country, Turkey has the highest inflation rate at 6.2 percent in September with Iceland following it with a 5.7 percent increase in consumer prices.
Compared to the previous month, consumer prices in the OECD area rose by 0.2 percent in September 2011. They rose by 0.7 percent in Britain, 0.2 percent in Canada and the United States, 0.1 percent in Germany, were stable in Italy and Japan but decreased by 0.1 percent in France.
Editor: Chen Zhi
English.news.cn 2011-11-02 23:46:44 FeedbackPrintRSS
PARIS, Nov. 2 (Xinhua)
Sunday, November 6, 2011
Philippines' Muslim rebels mull holding dialogue with critical Catholic bishops
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Situation among tourists stranded in Nepal stressful but not chaotic: authorities
Situation among tourists stranded in Nepal stressful but not chaotic: authorities
The situation in Lukla, north east of Nepal where hundreds of tourists and visitors have been stranded, is getting stressful, authorities said.
The tourists have been stranded in the Tenzing- Hillary Airport in Lukla since Tuesday following sudden change in weather condition.
The small airport which is located at an altitude of 2,860 meters is one of the busiest airports in Nepal as it is the gateway for tourists visiting Mount Everest (Mt. Qomolangma).
Although rescue operations have been planned and prepared, the bad weather is still preventing rescue flight operators from reaching the spot.
A local resident and hotel worker in the region Kumari Sherpa informed Xinhua over phone on Saturday that the region is being over packed with tourists who are making space under tents in the airport.
"We are running out of service," Sherpa had said.
Likewise, President of Himalayan Rescue Association (HRA) Santosh Subba told Xinhua that there is no doubt the situation has been stressful, but it is not as chaotic as it is being portrayed.
"There are a large number of tourists in the region and its adding up every day. It is being populated beyond its capacity," he said. "But it surely does not resemble the hype that is being portrayed." "We have been making sure that food stuffs are not exorbitantly priced. We have been coordinating with the local authorities to make sure that such instances are checked," he said.
"The food supplies in Lukla will last for few more days in case the weather is not clear and rescue flights cannot be operated," according to Sherpa.
"It is definitely not an easy situation and people are obviously stressed. Hotel workers are overloaded with tasks and tourists are panicking because they have to catch early flights back to their countries," Sherpa further added.
Sherpa said the HRA is working closely with the Tourists Crisis Cell (TCC), Trekkers' Agency Association Nepal, and Nepal Tourism Board to create pressure to concerned bodies and prevent any chaotic situation. "We learnt that the private companies were charging huge amount during the rescue operations. We have directed flight operators not to do so and warned them of severe actions if found to be done so," Sherpa told Xinhua.
He also said tourists were using hike trails to other destinations where they can have easy access to rescue or transportation back to Kathmandu.
"Tourists have been taking hike trails to other destinations. Some 1000 tourists have gathered in Surke which is a two-hour walk below Lukla because rescue flights are somehow being able to reach there," he said.
"We will do our best to avoid every odd situation," Sherpa said.
Similar situation in the same region which lasted for 15 days last year also had a large number of stranded tourists resulting in a severe food crisis.
In January 2008, the airport was renamed in honor of Sir Edmund Hillary and Sherpa Tenzing Norgay, the first persons to reach the summit of Mt. Everest.
The surrounding terrain, thin air, highly changeable weather and the airport's short, sloping runway make it one of the most challenging landing strips in the world.
Only small aircraft and choppers with limited seat capacity can make its way to the airport which is also hampering the rescue of such a large number of tourists.
Editor: Lu Hui
English.news.cn 2011-11-06 19:34:45
The situation in Lukla, north east of Nepal where hundreds of tourists and visitors have been stranded, is getting stressful, authorities said.
The tourists have been stranded in the Tenzing- Hillary Airport in Lukla since Tuesday following sudden change in weather condition.
The small airport which is located at an altitude of 2,860 meters is one of the busiest airports in Nepal as it is the gateway for tourists visiting Mount Everest (Mt. Qomolangma).
Although rescue operations have been planned and prepared, the bad weather is still preventing rescue flight operators from reaching the spot.
A local resident and hotel worker in the region Kumari Sherpa informed Xinhua over phone on Saturday that the region is being over packed with tourists who are making space under tents in the airport.
"We are running out of service," Sherpa had said.
Likewise, President of Himalayan Rescue Association (HRA) Santosh Subba told Xinhua that there is no doubt the situation has been stressful, but it is not as chaotic as it is being portrayed.
"There are a large number of tourists in the region and its adding up every day. It is being populated beyond its capacity," he said. "But it surely does not resemble the hype that is being portrayed." "We have been making sure that food stuffs are not exorbitantly priced. We have been coordinating with the local authorities to make sure that such instances are checked," he said.
"The food supplies in Lukla will last for few more days in case the weather is not clear and rescue flights cannot be operated," according to Sherpa.
"It is definitely not an easy situation and people are obviously stressed. Hotel workers are overloaded with tasks and tourists are panicking because they have to catch early flights back to their countries," Sherpa further added.
Sherpa said the HRA is working closely with the Tourists Crisis Cell (TCC), Trekkers' Agency Association Nepal, and Nepal Tourism Board to create pressure to concerned bodies and prevent any chaotic situation. "We learnt that the private companies were charging huge amount during the rescue operations. We have directed flight operators not to do so and warned them of severe actions if found to be done so," Sherpa told Xinhua.
He also said tourists were using hike trails to other destinations where they can have easy access to rescue or transportation back to Kathmandu.
"Tourists have been taking hike trails to other destinations. Some 1000 tourists have gathered in Surke which is a two-hour walk below Lukla because rescue flights are somehow being able to reach there," he said.
"We will do our best to avoid every odd situation," Sherpa said.
Similar situation in the same region which lasted for 15 days last year also had a large number of stranded tourists resulting in a severe food crisis.
In January 2008, the airport was renamed in honor of Sir Edmund Hillary and Sherpa Tenzing Norgay, the first persons to reach the summit of Mt. Everest.
The surrounding terrain, thin air, highly changeable weather and the airport's short, sloping runway make it one of the most challenging landing strips in the world.
Only small aircraft and choppers with limited seat capacity can make its way to the airport which is also hampering the rescue of such a large number of tourists.
Editor: Lu Hui
English.news.cn 2011-11-06 19:34:45
Australia, New Zealand express concerns over unionist arrests in Fiji
Australia, New Zealand express concerns over unionist arrests in Fiji
Another trade unionist arrested by the Fijian authorities remains in police custody on Sunday, as neighboring countries Australia and New Zealand expressed concerns over the measures to keep unionists threatened.
Felix Anthony, the National Secretary of the Fiji Trades Union Congress, has been arrested by the Fijian authorities for meeting other trade unionists without a permit.
It came after the arrest of the president of the Fiji Trades Union Congress Daniel Urai on Oct. 29. Neither of them has been charged.
Fijian Information Ministry Permanent Secretary, Sharon Smith Johns confirmed to media that Felix Anthony remains in police custody on Sunday. He has also confirmed that Daniel Urai remains in police custody as well. Urai was taken in for questioning on Monday.
The detainment of the Fiji trade unionists has caused international outrages, with Australia's Foreign Minister Kevin Rudd condemning the arrest of Anthony.
Rudd described in a statement the arrest and the failure of the regime to charge Anthony and Urai as unacceptable. "This is another example of what appears to be a concerted campaign by the Fiji authorities to target and intimidate trade unionists and other political opponents."
The Australian government says it is watching developments closely and is calling on the Fiji interim government to release Urai and Anthony from detention.
Australian unions have also condemned the arrest, saying it is increasingly concerned at what appears to be a systematic campaign of persecution by the regime of workers and their representatives.
The ACTU President Ged Kearney says the regime is resorting to strong arm tactics.
"The fact that not just one but two union leaders have been arrested and detained in Fiji within a week is an alarming and aggressive tactic," he said.
"The intimidation of workers and their representatives in Fiji is continuing unabated despite international condemnation," he said.
In New Zealand, the Labour Party's Foreign Affairs spokesperson, Maryan Street, said Anthony and Urai have already suffered at the hands of the regime, having both been arrested and beaten previously.
"The New Zealand Labour Party calls on the Fiji regime to release these men and restore their human rights, or at the very least, charge them with something which is not a pretence or charade," she said.
Fiji Islands Council of Trade Unions general secretary Attar Singh said Anthony's arrest is not a surprise and the talk among workers and unions is that the unionists have been linked to the campaign against the recent Essential National Industries Decree.
Editor: Deng Shasha
English.news.cn 2011-11-06 17:54:19 FeedbackPrintRSS
Suva, Nov. 6 (Xinhua)
Another trade unionist arrested by the Fijian authorities remains in police custody on Sunday, as neighboring countries Australia and New Zealand expressed concerns over the measures to keep unionists threatened.
Felix Anthony, the National Secretary of the Fiji Trades Union Congress, has been arrested by the Fijian authorities for meeting other trade unionists without a permit.
It came after the arrest of the president of the Fiji Trades Union Congress Daniel Urai on Oct. 29. Neither of them has been charged.
Fijian Information Ministry Permanent Secretary, Sharon Smith Johns confirmed to media that Felix Anthony remains in police custody on Sunday. He has also confirmed that Daniel Urai remains in police custody as well. Urai was taken in for questioning on Monday.
The detainment of the Fiji trade unionists has caused international outrages, with Australia's Foreign Minister Kevin Rudd condemning the arrest of Anthony.
Rudd described in a statement the arrest and the failure of the regime to charge Anthony and Urai as unacceptable. "This is another example of what appears to be a concerted campaign by the Fiji authorities to target and intimidate trade unionists and other political opponents."
The Australian government says it is watching developments closely and is calling on the Fiji interim government to release Urai and Anthony from detention.
Australian unions have also condemned the arrest, saying it is increasingly concerned at what appears to be a systematic campaign of persecution by the regime of workers and their representatives.
The ACTU President Ged Kearney says the regime is resorting to strong arm tactics.
"The fact that not just one but two union leaders have been arrested and detained in Fiji within a week is an alarming and aggressive tactic," he said.
"The intimidation of workers and their representatives in Fiji is continuing unabated despite international condemnation," he said.
In New Zealand, the Labour Party's Foreign Affairs spokesperson, Maryan Street, said Anthony and Urai have already suffered at the hands of the regime, having both been arrested and beaten previously.
"The New Zealand Labour Party calls on the Fiji regime to release these men and restore their human rights, or at the very least, charge them with something which is not a pretence or charade," she said.
Fiji Islands Council of Trade Unions general secretary Attar Singh said Anthony's arrest is not a surprise and the talk among workers and unions is that the unionists have been linked to the campaign against the recent Essential National Industries Decree.
Editor: Deng Shasha
English.news.cn 2011-11-06 17:54:19 FeedbackPrintRSS
Suva, Nov. 6 (Xinhua)
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