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Bumper64

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  1. Fri Mar 26, 6:25 pm ET Once seen as an American puppet, Iyad Allawi is the new Comeback Kid of Iraqi politics. The results of the general election announced Friday, March 26, show that Allawi's secular Iraqiya block has won 91 seats in the 325-seat Iraqi parliament - well short of a majority, but two more than its nearest rival, Prime Minister Nouri al-Maliki's State of Law slate. It's far from certain that Allawi will get al-Maliki's job. State of Law and other blocs have already indicated they will contest the results and demand recounts. Even if the results announced today hold up to scrutiny, there's a chance al-Maliki will be able to pull together a coalition to form the new government and retain the Prime Ministership. Meanwhile, the main Shi'ite bloc, the National Iraqi Alliance, won 70 seats; the main Kurdish alliance got 43. A simple majority of 163 seats is needed to govern. (See a 2004 interview with then Prime Minister Allawi.) But as Iraq braces for what could be weeks and weeks of political horse-trading, there's no doubt Allawi, 65, a physician, has momentum on his side. Such a comeback seemed highly unlikely just three years ago, when Allawi was regarded as a political has-been. Appointed Prime Minister of Iraq's first post-Saddam government in 2004, Allawi headed a corrupt, inept administration that set a poor tone for Iraq's fledgling democracy. As an American appointee, he lacked street cred. He projected himself as a democratic strongman - a contradiction in terms that convinced few of his countrymen. Although a Shi'ite, he alienated many among the majority sect by espousing a secular view of Iraq. Many Iraqis were suspicious of his ties to Saddam Hussein's Baath Party, even though Allawi had left the party in 1975 and had survived an assassination attempt ordered by the dictator. (See what Allawi was like in 2004.) When elections were held for a transitional government at the end of 2005, Allawi was easily trounced by a coalition of Shi'ite religious parties. Nor did he fare much better in the first full general election, in 2006. He then went into something of a funk. Even though he was an elected member of parliament, he showed no interest in playing a constructive role in opposition. Indeed, he was rarely in Baghdad at all, spending most of his time in Jordan and other Arab states. When I asked him about this in 2007, he cited concerns about his security in Baghdad - but plenty of other Iraqi leaders, not to speak of ordinary citizens, were braving death threats. But as the religious Shi'ite parties began to splinter, Allawi's political fortunes began to turn around. It helped, too, that his successors as Prime Minister - Ibrahim al-Jaafari and al-Maliki - were unable to deliver clean and efficient government. Allawi's party made a strong showing in last year's provincial elections, and that allowed him to unite a strong coalition of secular and Sunni parties under the Iraqi banner. His challenge now is to persuade Shi'ite and Kurdish parties that he will serve their interests better than al-Maliki did. If history is any judge, he'll have an easier time with the Kurds, who lean toward secularism, than the Shi'ites. See pictures of Iraq's revival. Watch a video on Iraq's parliament elections. http://news.yahoo.com/s/time/20100326/wl_time/08599197579500
  2. By John Pomfret Saturday, March 27, 2010 BEIJING -- Chinese economists and business leaders have begun to call openly for their government to allow the yuan to appreciate against the dollar, in a sign that the issue is contentious here, too, and not just a problem between the United States and China. President Obama has urged China to let the value of the yuan rise against the dollar as part of a plan to boost American exports and lower the trade deficit. U.S. economists have argued that the yuan is undervalued, and a group of senators led by Charles E. Schumer (D-N.Y.) is threatening to push legislation that would place tariffs on Chinese goods if China does not allow its currency to float more freely. China's loudest public reaction has been negative. On March 14, Premier Wen Jiabao told reporters that the yuan was not undervalued. A week later, Chen Deming, the minister of commerce, repeated the message to a meeting of foreign businessmen and in an interview with The Washington Post. Chen's deputy, Zhong Shan, has taken a similar line during the past two days while visiting the United States. All three officials implied that only the United States was pushing for the change, with Wen advising Washington to stop "finger-pointing." But it is becoming increasingly apparent that China's government is by no means united around that view. The People's Bank of China and a slew of economic research institutes advocate a more flexible yuan policy to control inflation and bolster domestic consumption by making imports cheaper. On the other side, the Commerce Ministry, which represents exporters, wants to keep the yuan cheap to help its constituents send more products abroad. On Wednesday, the People's Bank invited economists to a discussion of the issue in the run-up to the bank's regular quarterly meeting, scheduled for next week. Several economists who attended endorsed allowing the yuan to appreciate, participants said, to the apparent dismay of the Commerce Ministry officials there. continued............ http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032603332.html
  3. 26 March 2010 Iraqi security officials say twin blasts killed at least 20 people north of Baghdad Friday, just as the nation awaits full results of parliamentary elections. Authorities say the attacks took place in northern Diyala province. At least 55 people were wounded. Iraq's electoral commission says it will release the full results of the March 7 elections Friday. The race has been very tight and sparked fears of unrest. Election officials say that of the 325 parliamentary seats, it appears only one or two seats will separate the coalition of Prime Minister Nouri al-Maliki and the coalition of his main rival, former prime minister Ayad Allawi. Security is tight in central Baghdad, where about 300 supporters of Mr. Maliki's coalition rallied for a manual recount. Iraq's electoral commission has rejected the prime minister's call for a recount, but says it will look into complaints of fraud. The outcome could mean that Mr. Maliki's State of Law coalition and Mr. Allawi's Iraqiya coalition will have to spend weeks or months forming a new government. Mr. Allawi's strong support among minority Sunni Muslims has prompted concerns that any attempt by majority Shi'ite coalitions to sideline him could lead to sectarian violence. http://www1.voanews.com/english/news/middle-east/Final-Iraqi-Vote-Count-Expected-89254257.html
  4. Baghdad, March 27 Former Prime Minister Ayad Allawi said Friday he will work with all parties to form a new government, after his Iraqiya list won the most seats in the parliamentary election. Allawi won 91 seats in the 325-seat parliament, only two seats ahead of prime minister Nuri al-Maliki's State of Law coalition, the Independent High Electoral Commission (IHEC) announced. The long-awaited results from the March 7 elections also showed that the Iraqi National alliance, a coalition led by Shiite religious groups, came third with 70 seats, while the Kurdish Alliance won 43 seats. However, the shape of the new government is still unclear as no single group has won one third of the seats, forcing them to start talks about a coalition. As Allawi vowed to cooperate with all parties in order to form a new government, his main rival, al-Maliki, said that the door is open for alliances with all political parties. However, al-Maliki repeated his refusal of the results, saying these are "not the final results", referring to the three-day period to file appeals. Despite describing the elections as "transparent", al-Maliki said that the outcome was unexpected by the Iraqi people and the political blocs. In Washington, the US congratulated the Iraqi people, government and candidates on their "successful election." PJ Crowley, spokesman for the US State Department, noted the "overall integrity of the election", based on observations by international observers and more than 200,000 domestic observers. They found "no evidence" of widespread or serious fraud, Crowley said. Al-Maliki's coalition had previously said it will not recognise the outcome of the election without a recount. It warned of unrest and called for a manual recount of the national vote, after partial results indicated that Allawi had pulled ahead earlier this week. Iraq's electoral commission has repeatedly refused to recount the national votes, saying that it is "impossible, and would require several months of intensive work." Earlier Friday, hundreds of the State of Law coalition supporters demonstrated in Baghdad demanding a recount. Disputes between candidates over the outcome of parliamentary elections led authorities to tighten security in several provinces amid rising political tension and fears of violence in the country. However, this did not prevent Iraqiya supporters from heading out to the streets to celebrate their victory. They were singing and dancing, while some were wearing the Iraqi flag and others joined in the cheering with their car horns. Dozens of Allawi supporters gathered in front of his house before the final results were announced. UN envoy in Iraq, Ed Melkart, described the elections as "credible" and said that the "overall election process has met reasonable demands and standards". The poll, which drew some 12 million voters despite deadly bombings, was the second since the ouster of former president Saddam Hussein in the US-led invasion of Iraq in March 2003. Shortly before the results were announced, two bombs went off in a market north of the province of Diyala's capital, Baquba, killing 42 and injuring another 65, al-Arabiya channel reported. Last updated on Mar 27th, 2010 at 06:29 am IST http://www.prokerala.com/news/articles/a124169.html
  5. Friday, March 26, 2010 10:33 GMT Iraq's Independent High Electoral Commission (IHEC) will announce the final results of the legislative elections Friday March 26 evening unveiling who won the elections in the light of a frantic competition that impelled the Prime Minister Nouri Al Maliki to doubt the results of the IHEC triggering the arousal of a wide campaign denouncing his statements. However, the major happening on the electoral level was the announcement of the IHEC head Faraj Al Haidari who said that the results are tight and the winning list has only 1 or 2 seats more than the other. To that Iraqi Security Forces are widely deployed in Baghdad since early morning. Soldiers and policemen are set on the roads near the entrances of the Green Zone, on the crossroads and important streets and bridges. In addition, Helicopters roam above Al Salahia where a pro-Maliki demonstration is expected to start off from the premises of the Province building. Iraq Security forces closed Al Sink Bridge and the roads leading to the demonstration location. http://www.alsumaria.tv/en/Iraq-News/1-46855-IHEC-to-announce-Elections%E2%80%99-results-tonight.html
  6. You do such a great job at getting us info k98nights!! Just trying to help you out!
  7. March 26, 2010, 5:44 a.m. EDT Central bank adviser says stronger currency won't solve U.S.'s problems HONG KONG (MarketWatch) -- China may allow its currency to move more freely if the economy continues to improve, but the move won't do much to remedy structural economic problems in the U.S., a top adviser to the People's Bank of China said Friday. "China may resume a 'managed float' of its exchange rate, particularly if the uncertainty of the overall post-crisis economic situation diminishes," said Fan Gang in an opinion piece published in the state run China Daily Friday. Continued........... http://www.marketwatch.com/story/china-may-let-yuan-float-if-economies-improve-2010-03-26?reflink=MW_news_stmp
  8. By Prashant Rao (AFP) – 7 hours ago BAGHDAD — Full results from Iraq's elections are due on Friday amid a tight race between Prime Minister Nuri al-Maliki and his main rival Iyad Allawi and fears of a nascent political crisis. Nearly three weeks after the March 7 parliamentary polls, the national election commission is set to release complete results, with the prolonged counting process fuelling allegations of fraud and vote manipulation. The results come around five months before the United States is due to withdraw all of its combat troops from Iraq, and Washington will be keen to see a smooth outcome from the election. Iraq's Independent High Electoral Commission (IHEC) is set to publish the figures at a news conference at the Rasheed Hotel in Baghdad's heavily fortified Green Zone at 7pm (1600 GMT). Figures released by IHEC, based on 95 percent of ballots cast, put just 11,000 votes between Maliki's State of Law Alliance and Allawi's Iraqiya bloc. The two groups are on pace to garner 91 seats apiece in the 325-member Council of Representatives, according to an AFP calculation. The list that forms the single largest group in parliament will be chosen by Iraq's president, who is elected by the legislature, to form a government. If it does not succeed within 30 days, another group will be selected, as per Iraq's constitution. However, no bloc is expected to win the 163 seats required to form a parliamentary majority, and protracted coalition building is likely. The Iraqi National Alliance, a coalition led by Shiite religious groups, and Kurdistania, comprised of the autonomous Kurdish region's two long-dominant parties, are expected take 68 and 42 seats respectively and will be major players in any talks on forming a government. But tensions have been raised over allegations of fraud during the vote and the subsequent count, claims made most prominently by Maliki, who has cried foul and demanded a manual recount, warning that one was needed to "protect political stability... and prevent a return to violence." While electoral authorities have rebuffed the incumbent's request, State of Law has threatened not to recognise results it sees as tainted, potentially plunging Iraq into a major political crisis. State of Law has organised several demonstrations in recent days in predominantly Shiite provinces in the south, where it performed well in the parliamentary election. Provincial council chiefs in 10 central and southern provinces, including Baghdad, who belong to the bloc also published a statement on Wednesday threatening "a major escalation" if Maliki's recount demand was not met. They did not elaborate. IHEC officials and Western diplomats downplayed allegations of fraud and pleaded for patience as the count continued. Security officials have warned that protracted coalition building could give insurgent groups and Al-Qaeda a chance to further destabilise Iraq. http://www.google.com/hostednews/afp/article/ALeqM5gpPedJ-qhSkg-g_Ip-ZmH7fxJHdw
  9. The Associated Press Friday, March 26, 2010; 6:36 AM BAGHDAD -- Iraq's electoral commission insisted it will announce full election results as scheduled Friday, despite calls for a delay amid fears of violence over the tight race. Earlier results, based on 95 percent of ballots counted, showed Prime Minister Nouri al-Maliki's mainly Shiite bloc facing a virtual tie with the alliance led by former prime minister Ayad Allawi, who has garnered heavy Sunni support. The tightness of the race sets the stage for protracted political wrangling over forming a new government that could spark new fighting and complicate American efforts to speed up troop withdrawals in the coming months. It also has prompted calls for a manual recount of the tallies from the March 7 parliamentary vote amid claims of vote rigging and fraud. Also, Interior Minister Jawad al-Bolani, himself a candidate, called Thursday for a delay in the release of the results to prevent an outbreak of violence among supporters who feel they were disenfranchised. Commission spokesman Mohammed al-Amjad, however, said Friday the results and seat allocations in the 325-member parliament will be released at 7 p.m. in Baghdad. The announcement is expected to take two hours as tallies from each of Iraq's 18 provinces will be read out. Whoever wins the most seats will get the first stab at choosing the prime minister and forming the new government, which will run the country as U.S. troops leave by the end of 2011. They also will be able to reward allies with control of government ministries and the jobs that go with them. But no bloc is expected to gain the majority required to act alone, so months of negotiations are expected as former rivals jockey for power. The Kurds and followers of anti-U.S. cleric Muqtada al-Sadr are likely to play key roles as kingmakers. Al-Maliki's State of Law coalition narrowly trails Allawi's Iraqiya bloc in overall results released so far. But the prime minister's bloc is ahead in seven of Iraq's 18 provinces, compared to Allawi's five. The allocation of parliament's seats is based on votes counted per province. The results won't be final until they are ratified by the Supreme Court. The Iraqi capital was mostly calm Friday, although more than 300 al-Maliki supporters held a rally outside the Baghdad provincial council in the city center, demanding a manual recount of the ballots over allegations of fraud and vote rigging. The electoral commission has said there were no grounds for a recount. http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032600844.html
  10. Thu Mar 25, 2010 9:33pm Fan Gang says China may resume "managed float" * Stresses that China's employment situation a key concern * Acknowledges Beijing could also weigh int'l factors (Adds details, background) BEIJING/SHANGHAI, March 26 (Reuters) - China could move again to greater flexibility in its currency regime but needs to take domestic factors such as employment into account when deciding whether to do so, a central bank adviser said in remarks published on Friday. In an op-ed article titled "Toying with yuan won't help us," Fan Gang, the only academic member of the People's Bank of China's monetary policy committee, wrote that a rise in the currency itself was not a solution for U.S. economic problems, including employment. Fan did not rule out a move by Beijing to let its currency become more flexible, but he argued for greater understanding of China's own domestic concerns, as friction over the yuan grows ahead of a U.S. Treasury report due on April 15 that could label Beijing a "currency manipulator". "China may resume a 'managed float' of its exchange rate, particularly if the uncertainty of the overall post-crisis economic situation diminishes," Fan wrote published in the official English-language China Daily. "In choosing whether or not to do so, its policymakers may weigh factors ranging from China's international responsibilities to the potential damage of foreign protectionism or even a trade war. "What is certain, however, is that China's politicians have a domestic agenda just like the Americans. The key element of that agenda is to maintain employment growth." China has kept the yuan, or renminbi, effectively pegged around 6.83 per dollar since mid-2008, when the impact of the global financial crisis started to take a toll on its exporters. [CNY/] "FLAWED ANALYSIS" Pressure has since mounted for Beijing to loosen the reins again, with some members of the U.S. Congress and industry bodies blaming China for widespread job losses in the United States. Fan rejected such criticism. "The U.S.' internal and external deficits remain large, and its unemployment rate is extremely high. Someone needs to take responsibility, and since U.S. politicians don't want to blame themselves, the best available scapegoat is China and its exchange rate, which has not appreciated against the dollar in 18 months," he said. Chinese policymakers and analysts are not alone in rejecting claims that China is responsible for the loss of millions of U.S. jobs. A recent report by the left-leaning Economic Policy Institute that said unfair Chinese trade and currency practices caused the loss of as many as 2.4 million U.S. jobs between 2001 and 2008 is based on "flawed analysis", the U.S.-China Business Council (USCBC) said this week. The report was "built on the faulty assumption that every product imported from China would have been made in the U.S. otherwise," John Frisbie, president of the USCBC said in a statement. A stronger yuan could also create other difficulties for the United States, Fan said, including pushing up inflation, which he said could prompt the Federal Reserve to tighten monetary policy and thus possibly undermine the U.S. economic recovery. Fan acknowledged that China should fix problems including distortions in the prices of energy and other resources, and that of excess savings, which contribute to economic imbalances. However, he noted that Beijing needed to ensure that it offer a better standard of living to the country's hundreds of millions of farmers, many of whom have found a way out of poverty by migrating to cities to work in the factories that churn out consumer goods for Western markets. "Getting more farmers into better-paid manufacturing and service-industry jobs will mean not only a reduction in poverty, but lower income disparity. By any moral standard, that goal is at least as important as anything on America's agenda," he said http://www.reuters.com/article/idUSTOE62P00A20100326?type=marketsNews
  11. Washington Post Foreign Service Friday, March 26, 2010 Pressure is mounting on the Obama administration to take action against China for undervaluing its currency, with business leaders, economists and other analysts citing the issue as emblematic of a broader tension developing in one of the world's central trading relationships. The Treasury Department on April 15 will issue a semiannual report on the management of currencies around the world in which it will have to decide whether China manipulates its exchange rates "for purposes . . . of gaining unfair competitive advantage in international trade." China maintains a strict peg between the value of the renminbi, its currency, and the U.S. dollar, and there is broad agreement that the rate is lower than it would be if the currency traded openly -- perhaps by as much as 25 percent, making Chinese goods that much cheaper on global markets. In two prior reports since President Obama took office, the department shied away from making such a declaration, hesitant to provoke a trade dispute as both countries were responding to the global economic downturn. Instead, officials folded the currency question into the administration's larger aim of resolving issues through negotiation and engagement in international organizations, such as the Group of 20 economically powerful countries. But a year later, the economic landscape has shifted. China's exports have rebounded, and its economy is growing strongly enough that U.S. officials think the country needs to shift away from the export-dominated strategies that have fueled its growth. continued......... http://www.washingtonpost.com/wp-dyn/content/article/2010/03/25/AR2010032503772.html
  12. Friday, March 26, 2010 BAGHDAD -- The man who was widely derided as an American puppet when he stepped down as prime minister five years ago has become a leading contender for Iraq's top job based on his strong showing in this month's elections among a group that lost more than any other with the U.S.-led invasion. Ayad Allawi, a secular Shiite known for his willingness to use brute force when necessary, has returned to the center of Iraqi politics after receiving millions of votes from Sunni Arabs, a minority that has felt marginalized since Sunni dictator Saddam Hussein was toppled in 2003. Political blocs led by Allawi and Shiite Prime Minister Nouri al-Maliki are neck-and-neck in a race that is still too close to call with 95 percent of ballots counted. Remaining results are expected to be released Friday. Allawi and his political coalition won Sunni support in part because he is considered less sectarian than other Shiite leaders and was not in office during the vicious sectarian bloodletting that marked the first two years of Maliki's tenure. With the U.S. military preparing to substantially draw down its presence this summer, many Sunnis voted with the hope that Allawi would restore some of their lost status. "It's the nostalgia of hindsight. Who would have ever thought that Allawi's tenure as prime minister would look good in retrospect?" said Ryan C. Crocker, the U.S. ambassador to Iraq from 2007 until 2009. "I think it does to many Sunni Arabs in the wake of everything that came after that. He has always had the persona of the nonsectarian political figure." Allawi exploited that appeal in a country weary of sect-motivated killings, and he emphasized it during the campaign. "People are disenchanted with sectarianism continued.............. http://www.washingtonpost.com/wp-dyn/content/article/2010/03/25/AR2010032503650.html
  13. Thursday 25 March 2010 22.31 GMT After three laborious weeks of counting and foreboding rhetoric, Iraq finally faces its electoral day of reckoning on Friday night, with a result expected in a national poll that is tipped to spark renewed instability on the eve of the planned US withdrawal. Both key players in the agonisingly close 7 March poll have vowed not to accept the result if they lose, in a clear sign that the winner faces a tough battle to claim a mandate to rule Iraq, which remains deeply divided, despite parts of its war-weary society now starting to function again. The prime minister, Nouri al-Maliki, this week invoked his role as commander in chief of the Iraqi military in a statement condemning the manner in which the 13 million votes cast were counted by officials. His ominous calls for a recount have raised fears that fragile security gains could rapidly unravel. A key Maliki loyalist, Sami al-Askari, said the prime minister would not urge a violent uprising if he loses the vote to his secular rival, Iyad Allawi, but warned that events may spiral beyond his control. "My fear is that things may go beyond Maliki's control," said Askari. "We have heard from about seven to nine provinces in the south and they are calling us all the time asking what to do, shall they return to the streets, or not. "My problem is that I cannot tell them to calm down and it will all be OK, because I genuinely believe that there was corruption [in the vote counting process] and we have evidence that this happened." Allawi's Iraqiya coalition raised similar claims earlier in the counting process. But Allawi, a former prime minister, has shifted position as results have increasingly shown that he is within striking distance of returning to the job he held for nine turbulent months before being ousted in early 2005 as Iraq began to slide towards anarchy. Allawi is thought to have won at least 91 seats in the 325-seat parliament, largely on the back of strong support from Sunni provinces, which strongly supported prominent Sunni candidates on the Iraqiya party's list. Maliki's State of Law list also polled well, securing at least 90 seats. But it has not scored the clear victory predicted before the voting. With 95% of the votes counted, the two rivals were separated by a mere 11,000 votes. "The difference between the leader and the second place will be one to two seats," the head of the Independent High Electoral Commission, Faraj al-Haidari, told the Associated Press, though he would not say who was ahead. Maliki's demand for a manual recount has been firmly rebuffed by the electoral commission, as have claims that some commission employees have fiddled the figures to favour Allawi. Whoever emerges triumphant when the result is declared will in effect be able to claim a moral victory only, then face the arduous task of trying to form a government. The winner will not necessarily have a claim on the prime minister's office. "If Maliki wins, he isn't guaranteed to return to his job," said Askari. "And if Allawi wins, he is no certainty to be prime minister
  14. Washington Post Foreign Service Thursday, March 25, 2010 Treasury Secretary Timothy F. Geithner said Wednesday that the United States "can't force" China to change its currency policies, as debate continues over whether the Obama administration will take action against Beijing as part of an assessment next month about how it sets its exchange rates. Geithner said he thought the Chinese would take action on their own to allow the yuan to gain in value, fixing a misalignment some argue is a deliberate effort by China to keep its goods cheap on world markets. "I think it is quite likely they move over time," Geithner said in an interview on CNN. "We can't force them to make that change. But it is very important that they let it start to appreciate." Geithner is being encouraged by some members of Congress, economists and labor and business groups to label China a "currency manipulator" on April 15 when he issues a semiannual review of world currency policies. The designation would have no immediate impact -- beyond triggering discussions over how the problem might be fixed and possibly paving the way in the future for the imposition of punitive tariffs on Chinese goods. But it could have deep political repercussions, as the government responds to high U.S. unemployment rates and seeks to shape its strategy toward China at a time of strained relations. China currently pegs the value of its currency to the dollar at a level some economists estimate could be as much as 25 to 40 percent below where the yuan would trade on the open market -- a discount that encourages U.S. imports of Chinese goods, and makes U.S. and other country's products less competitive around the world. The United States' annual trade deficit with China is well in excess of $200 billion, a potential drag on U.S. employment. continued............ http://www.washingtonpost.com/wp-dyn/content/article/2010/03/24/AR2010032403105.html
  15. Thursday, 25 March 2010 The head of Iraq's election commission has ruled out a manual recount of all the votes in the country's parliamentary election. This comes the day before overall election result is due to be released. Commission head Faraj al-Haydari told the BBC that no political party has shown any evidence that such a recount was needed. Supporters of incumbent Prime Minister Nouri Maliki have staged protests calling for a recount. Mr Maliki is in a tight race with his main rival, the former Prime Minister Iyad Allawi. When he made the demand, Mr Maliki's language warning of threats to stability and invoking his position as commander in chief, raised concerns he might not accept the result. BBC Baghdad correspondent Andrew North says the Iraqi election commission remains under intense pressure. Mr Haydari, the election commission head, told the BBC: "I think Maliki or President Talabani have the right to suggest. Anyone has the right to suggest but I think we go and work according to the law. We listen to them. We can discuss with them. We can explain to them but we don't take orders. This is law. It's an election." Fears continued........ http://news.bbc.co.uk/2/hi/middle_east/8586967.stm
  16. March 24, 2010, 10:49 AM EDT March 24 (Bloomberg) -- Iraqi Prime Minister Nouri al- Maliki is close to reviving an alliance with former Shiite Muslim rivals that may create the biggest bloc in the newly elected parliament, a political ally of the premier said. An accord between al-Maliki
  17. March 24, 2010, 9:14 AM EDT March 24 (Bloomberg) -- Chinese executives are joining U.S. President Barack Obama in backing a stronger yuan, even as Premier Wen Jiabao says the currency isn
  18. BAGHDAD (Reuters) - Iraq's two main Shi'ite political blocs, one led by Prime Minister Nuri al-Maliki and another whose leaders have close ties to Iran, are discussing a merger that could widen Iraq's sectarian divide. A union between Maliki's State of Law and the Iraqi National Alliance, two of the top three vote-getters in Iraq's March 7 parliamentary election, could sideline secularist former premier Iyad Allawi, whose cross-sectarian Iraqiya coalition won strong support from minority Sunnis. A merger could also push aside Maliki, who wants another term at the helm. One of INA's major components, the Sadrist movement of anti-American cleric Moqtada al-Sadr, was the top vote-getter for INA and has poor relations with the premier. The makeup of the next government is being watched closely by Washington, which plans to formally end combat operations in Iraq by September 1, and by global oil companies that have signed multibillion-dollar contracts to develop Iraq's oilfields. "There has been more than one meeting with INA to reach a deal to form an alliance or merge both coalitions," Sami al-Askari, a prominent member of Maliki's State of Law, told Reuters shortly after another leading member of the bloc issued a public statement saying the two needed to merge. State of Law is running in a virtual dead heat with Allawi's coalition. None of the leading blocs is expected to win enough seats to form a government alone and talks between parties and coalitions about potential alliances are in full swing. The final preliminary vote count is scheduled to be released on Friday, nearly three weeks after the election. Allawi's Iraqiya drew strong support from Iraq's minority Sunni population and analysts have said any attempt to exclude Iraqiya from the government could anger Sunnis marginalised after the 2003 U.S. invasion that toppled Saddam Hussein. Continued... http://ca.reuters.com/article/topNews/idCATRE62M3BV20100323
  19. WASHINGTON, March 23 (Reuters) - Two U.S. senators said on Tuesday they would push for quick action on a bipartisan bill aimed at making China raise the value of its currency. Senator Charles Schumer, a New York Democrat, said he wanted a vote on the bill by the end of May regardless of whether President Barack Obama's administration has formally labeled China a currency manipulator in an April 15 report. Senator Lindsey Graham, a South Carolina Republican, said he agreed quick congressional action was needed because the pace of China's currency reforms have been so slow. Both senators said they believed China responded only to pressure on the currency front. "I think our pressure is going to make a difference, not only to China, but to the administration," Schumer said. "I think Treasury is seriously considering it," he said, when asked if thought the Obama administration would label China a currency manipulator in the upcoming report. continue..... http://www.reuters.com/article/idUSN2310420320100323?type=usDollarRpt
  20. BEIJING, March 23 (Reuters) - Offshore forwards markets expect the yuan to rise just little more than 2 percent in the next year, but when China eventually scraps its currency's 20-month-old peg to the dollar it will trigger feverish speculation over the longer-term consequences for markets and the global economy. Exchange rates do not rise and fall in a vacuum. A lot depends on whether China tweaks other policies at the same time and how the rest of the world responds. But, on the heroic assumption that other things remain equal, here is the impact yuan appreciation might have in various areas. WHAT WILL THE IMPACT ON FINANCIAL MARKETS BE? The currencies of emerging Asian economies that are big exporters to China, notably Taiwan, South Korea and Malaysia, stand to benefit most. Commodity currencies should also benefit. For the big currencies, John Normand of JPMorgan said it would be a stretch to argue that the 2.1 percent revaluation of the yuan in July 2005 marked an inflection point. He said a revaluation would have to be massive, on the order of 20 percent, to have a noticeable effect on global imbalances and, hence, on other big currencies. "If China allows only 5 percent appreciation this year, which is roughly the pre-Lehman pace, the real impact will be trivial," Normand said in a report. continue..... http://www.reuters.com/article/idUSTOE62M06A20100323?type=usDollarRpt
  21. I agree also.... Thank You Adam!
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