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Bernanke Endorses Additional Stimulus Effort
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US Central Bank chief says 'targeted' measures can help ease impact of economic
slowdown
The head of the U.S. central bank says raising government spending again to
stimulate the economy would be a good idea now.Ben Bernanke testifies before
Congressional committee, 20 Oct 2008Federal Reserve Chairman Ben Bernanke told
the a key Congressional committee that the U.S. economy faces a possibly
"protracted" slowdown, and "targeted" measures could ease the impact. In
Monday's testimony, he suggested these measures be crafted in ways to get the
credit market moving again, but did not specify how. Severe problems in the U.S
housing market and a stalled credit market sparked the recent global financial
crisis. Asian, European, and U.S. stock markets moved higher in Monday's
trading with investors and lenders apparently encouraged by the stimulus idea
and other efforts to bolster the battered financial system.A key measure of
banks' willingness to lend to each other, businesses, and consumers, showed the
tight credit market is easing. The stalled credit market had slowed business
and raised fears the economy could shrink.South Korea has said it will
guarantee up to $100 billion in foreign debts held by the country's banks, and
provide lenders with $30 billion in direct funds.Earlier, the Netherlands said
it will inject $13 billion into Dutch-based ING, one of the world's 20 largest
banks. ING warned Friday it expects a quarterly loss of $670 million because
of the global credit crisis. On Saturday, U.S. President George Bush and
visiting European leaders agreed to hold a series of summits aimed at reforming
the global financial system.Mr. Bush, French President Nicolas Sarkozy and
European Commission President Jose Manuel Barroso said the first summit will
focus on reaching "principles of reform" to ensure future prosperity. Later
summits will develop specific steps to meet those goals.
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Major European Markets Follow Asian Lead, Move Higher
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Analysts say financial institutions growing less wary of lending to each other,
freeing up credit for consumers
Major European markets opened moderately higher, following the lead of Asian
markets that posted solid gains. For VOA, Tom Rivers in London has
details.German stock trader makes phone call in FrankfurtEuropean markets
posted modest increases as investors took some comfort in the global efforts to
prop up the international banking system.Analysts say that as financial
institutions grow less wary of lending to each other it will free up credit for
consumers to purchase essential things like mortgages and small business
loans.The biggest gainers in European trading were in the financial sector.
Deutsche Bank in Germany and Lloyds TSB in Britain are recovering some of the
losses incurred during the past few weeks.Energy stocks are up as well.But amid
this moderate, short-term optimism is the realization that the world economy is
slowing.Here in Britain, the economy shrank by two-tenths of one percent in the
last quarter and people like professor Peter Spencer from Ernst and Young's
Item Club say for all intents and purposes, Britain is in a recession."It is a
recession," he said. "But it is relatively shallow and short compared to the
bad old days of the 1970s and 1980s, and that is for one simple reason and that
is that the Bank of England is in a position to cut interest rates as inflation
is coming off its peak."Spencer says the next year will be financially rocky
with growth slowing further and unemployment increasing."It will be apparent to
everybody, if it is not already, that the good times are over and that belts
have to be tightened," he said. "OK, inflation may be coming down a bit, but
we will be finding our incomes squeezed in our pay packet. Those people who
hold on to their jobs, hopefully the majority of us, will see that their pay
really is not increasing."But as he sees it, by the end of 2009, an economic
recovery should be starting here.The British government's strategy is to borrow
its way through these tough times. The latest six-month total of public sector
borrowing stands at a level not seen for 60 years.
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Taliban Claims Responsibility for Killing Female Aid Worker
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Officials say woman working for Christian charity, SERVE Afghanistan, was shot
dead Monday morning as she walked to her job in suburban Kabul
A British woman who had been helping the handicapped in Afghanistan has become
the latest victim of Taliban violence targeting foreign aid workers in the
country. VOA Correspondent Steve Herman reports from Kabul that Afghanistan's
government and aid agencies are vowing that such attacks will not hamper the
international effort to rebuild the country. Afghan official stands near scene
where female Western aid worker was shot dead in Kabul, 20 Oct
2008International officials say assistance programs for Afghanistan should not
be undermined by the rising number of attacks on foreign aid workers here. A
worker for the Christian charity, SERVE Afghanistan, was shot dead Monday
morning as she walked to her job in suburban Kabul. Police and diplomatic
sources say Gayle Williams, a British national of South African origin working
with the disabled, was attacked by gunmen who got off a motorcycle and fired at
her numerous times.The fundamentalist Taliban say they killed the woman because
she was working for an organization that was preaching Christianity in the
predominately Muslim nation. Several other Christian charities in the country
contacted by VOA News say they intend to maintain a low profile and do not want
to comment on how the killing would affect their operations here. Security
groups working with international organizations say attacks on aid workers are
at their highest level in six years. Spokesman Dan McNorton of the United
Nations Assistance Mission in Afghanistan tells VOA News it is too early to say
what impact the latest killing in Kabul might have on the operations of foreign
aid agencies in the country. "We are all aware that Afghanistan has seen an
increase in security incidents," McNorton said. "And it has become increasingly
difficult for humanitarian agencies to work in the country. But most agencies
are still here and most agencies are still getting on with their jobs of
providing help to the people of Afghanistan."Three female aid workers and their
Afghan driver were ambushed and killed in August by Taliban insurgents. There
have also been more than 70 reported abductions of aid workers this year in
Afghanistan. But it is ordinary Afghans who continue to be the primary targets
of the increasing violence perpetrated by the Taliban, other rebel groups and
criminal gangs. Kidnappings of wealthy Afghans have become routine. The latest
reported abduction: Hamayon Shah Asifi, the influential and wealthy
brother-in-law of former King Zahir Shah. An estimated three thousand Afghans
have died due to insurgency-related violence this yearIn one of the latest
major incidents, Taliban fighters are claiming responsibility for killing about
30 people on two buses in southern Kandahar province last week. The insurgents
say they attacked the buses because they were filled with Afghan soldiers. But
government officials say those who were killed were all civilians, including a
child. On the battlefront, the NATO-led International Security Assistance Force
says a two-day battle against militants has left 20 insurgents dead in Maydan
Wardak province, where the Taliban have a presence less than 60 kilometers
southwest of Kabul. Countering the rising insurgency, besides the Afghan
National Army, are 65,000 international troops - either under the command of
NATO or the U.S. military.
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US Diplomat Meets Pakistani Leader in Peshawar
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US Assistant Secretary of State Richard Boucher meets with various officials to
press for the government to do more to combat terrorism
US Assistant Secretary of State Richard Boucher, left, shakes hands with
Pakistan's Interior Ministry chief Rehman Malik prior to their meeting in
Islamabad, Pakistan, 18 Oct 2008The top U.S. diplomat for South Asian affairs
has met Pakistani Prime Minister Yousuf Raza Gilani in Islamabad.Officials have
not commented on the meeting between U.S. Assistant Secretary of State Richard
Boucher and Mr. Gilani Monday, but the men were expected to discuss Pakistan's
fight against terrorism.Boucher met Sunday with the chief minister of North
West Frontier Province Amir Haider Khan Hoti. During the meeting in Peshawar,
the minister said he wanted to "resolve all political problems through peaceful
dialogue."Pakistan has criticized the U.S. for carrying out missile strikes on
suspected Taliban and al-Qaida militants along the Pakistani border with
Afghanistan.The United States has been pushing Pakistan to take stronger action
against the militants. Washington says the fighters are using Pakistan as a
base to attack U.S. and Afghan troops in Afghanistan. Some information for this
report was provided by AP.
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Obama, McCain Campaign in Crucial States as Election Nears
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Democratic candidate Barack Obama is campaigning in Florida while Republican
candidate John McCain is campaigning in the closely contested Midwestern state
of Missouri
US presidential candidates Barack Obama in Fayetteville, N.C. and John McCain
in Toledo, Ohio, 19 Oct 2008
U.S. presidential candidates Barack Obama and John McCain are campaigning
Monday in states crucial to winning the election 15 days from now.Republican
Senator McCain is in the closely-contested midwestern state of Missouri. His
vice presidential pick, Sarah Palin, held a rally in the western state of
Colorado. Both Republicans emphasized their aims to cut business and capital
gains taxes, carry out plans to keep Americans in their homes, and help protect
retirees' investments. Senator Obama, a Democrat, is holding a series of
events in the battleground state of Florida, one day after receiving the
endorsement of President Bush's former Secretary of State Colin Powell.Obama's
campaign also announced it raised a record $150 million during September.Recent
national polls show Obama leading McCain by an average of 5.5 percentage points
among likely voters.
Some information for this report was provided by AP.
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Abbas Criticizes Israeli Response to Attack on Palestinian Farmers
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Palestinian president says Israel's failure to protect the harvest means it is
not serious about a peace deal
Israeli settlers attack a Palestinian photographer during an olive harvest in
the occupied West Bank, 18 Oct 2008 (picture released by Active
Stills)Palestinian President Mahmoud Abbas has accused Israel of not protecting
Palestinian olive farmers against recent attacks by Jewish settlers.Palestinian
newspapers published Mr. Abbas's comments Monday after an attack over the
weekend on two news photographers and a British activist helping farmers with
the annual olive harvest. The Palestinian leader said Israel's failure to
protect the harvest means it is not serious about a peace deal.Israeli Defense
Minister Ehud Barak has responded by condemning the harassment of the farmers
and called the attackers "hooligans." But he also dismissed Abbas' claims and
said the military is doing its best to protect the farmers.Medic attends a
Palestinian olive farmer after Jewish settlers from a nearby settlement in the
northern West Bank allegedly attacked him, 11 Oct 2008.Thousands of
Palestinians participate in the annual olive harvest, which is critical to
their economy.Meanwhile, Israeli President Shimon Peres will meet with his
Egyptian counterpart this week to focus on promoting peace between Israel and
its Arab neighbors, as well as the impact of the global financial crisis.Egypt
has been brokering a possible prisoner exchange between Israel and Gaza's Hamas
leaders. Hamas is holding an Israeli soldier kidnapped two years ago in
southern Israel.
Some information for this report was provided by AFP, AP and Reuters.
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Opposition Boycotts Southern African Summit on Zimbabwe
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Morgan Tsvangirai will not attend Monday's regional summit on Zimbabwe's
political impasse because he could not get necessary travel documents
The parties to the Zimbabwe crisis talks were to brief southern African leaders
in Swaziland, but the opposition is boycotting the session because the leader
of the main opposition party, Morgan Tsvangirai, has not been given a
passport. VOA's Scott Bobb reports from our Southern Africa Bureau in
Johannesburg.Morgan Tsvangirai (file)The head of Zimbabwe's main opposition
party, and prime minister-designate, Morgan Tsvangirai refused to travel to
Swaziland for the summit of southern African leaders because the government of
President Robert Mugabe has refused to give him a passport. For several months
he has been obliged to request a special travel document for each trip
abroad.The secretary-general of Tsvangirai's Movement for Democratic Change,
Tendai Biti, said this could not continue."The travel document is an insult,"
he said. "To give the prime minister-designate, the leader of a party that has
won [elected] the ruling party, a travel document that lasts for the three days
that he is there is an insult and it is a reflection that they are not ready
[to share power]."Mr. Mugabe's ZANU-PF party one month ago signed a power
sharing agreement with Tsvangirai and a smaller opposition party headed by
Arthur Mutambara. Under the accord, Mr. Tsvangirai is to assume the newly
created position of prime minister, but talks on a unity government were
declared deadlocked on Friday.Mutambara told reporters in the Swazi capital the
opposition would boycott discussions without the presence of the veteran
opposition leader."Without Mr. Tsvangirai there will be no discussion of
Zimbabwe today," he said. "However, we have been assured that a jet has been
sent to Harare to bring Mr. Tsvangirai to this meeting. Until such an activity
has happened and Mr. Tsvangirai has come to this meeting there is no dialogue
on Zimbabwe here."A Zimbabwean official dismissed Tsvangirai's refusal to
travel as a maneuver, saying he had been given a travel document because the
government does not have the foreign exchange to import the material to make
new passports.The MDC said rather it was a deliberate attempt by the government
to prevent Mr. Tsvangirai from traveling to brief heads-of-state on the
political and economic crisis in his country.Leaders of the political
commission of the Southern Africa Development Community convened the summit
after the talks deadlocked in Harare.The Zimbabwean opposition won a majority
of the seats in parliament in elections last March and Mr. Tsvangirai defeated
Mr. Mugabe in the first round of the presidential vote. But Mr. Mugabe won the
run-off election after Mr. Tsvangirai pulled out citing a campaign of
intimidation in which more than 100 of his supporters were killed.
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Sudan Blames Rebels for Kidnapping Chinese Oil Workers
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Gunmen kidnapped 9 employees of the China National Petroleum Corporation on
Saturday at the Block-4 oil field, which straddles the border between northern
Sudan and the semi-autonomous South, and lies to the east of the Darfur region
Sudanese and Chinese officials are working together to make contact with the
kidnappers of 9 Chinese oil workers abducted in central Sudan on Saturday. As
Derek Kilner reports from VOA's East Africa bureau in Nairobi, Sudanese
officials have blamed the attack on a Darfur rebel group.China's ambassador to
Sudan Li Chengwen, left, and Sudan's Ministry of Foreign Affairs spokesman Ali
Sadiq, right, speak to the media in Khartoum after a meeting on the fate of
kidnapped Chinese oil workers, 20 Oct 2008Gunmen kidnapped 9 employees of the
China National Petroleum Corporation on Saturday at the Block-4 oil field,
which straddles the border between northern Sudan and the semi-autonomous
South, and lies to the east of the Darfur region.A spokesman for the Chinese
embassy in Khartoum, Raymond Yu, said that there had not yet been any contact
with the kidnappers. "We have 9 Chinese oil workers who were working in the
oil field, they were kidnapped together with a Sudanese driver."He said,
"Later, the Sudanese driver was released, but the 9 Chinese workers are still
kidnapped. The Chinese embassy here is strengthening contacts and consultation
with the Sudanese government."According to the Sudanese state media, the
Sudanese government has blamed the Justice and Equality Movement, a rebel group
based in Darfur, for the kidnapping. The group was responsible for 2 attacks
on Chinese oil installations in the area in late 2007, and had warned Chinese
companies to leave the country. The Justice and Equality Movement accuses China
of backing Khartoum in the conflict in Darfur.The research director of the
Africa Asia Center at the School of Oriental and African Studies in London, Dan
Large, said such attacks have had little impact on China's oil operations in
Sudan. "In terms of its political impact, it certainly has brought China's
role within Sudan to the closer attention of Chinese authorities in Beijing.
But fundamentally this has not disrupted its oil operations in Sudan to date."
Large added, "It has exercised some influence politically, but so far has not
persuaded China to adopt any form of robust pressure on Khartoum to resolve the
conflict in Darfur."Rebel spokesmen did not claim responsibility for the
attack, but acknowledged that their forces are operating in the area and that
it is possible that members of the group did abduct the workers.In May, 4
Indian oil workers were also abducted in the area, then by Misseriya Arab
tribesmen demanding a greater share of the country's oil wealth, and there was
some speculation that the same group could again be responsible.Large said
China's special envoy for Darfur, Liu Guijin, is to visit Sudan later this
week. "This incident will almost certainly feature in his discussions with the
Sudanese government. But there will also be quite pressing issues he is
expected to discuss as well, including the deployment of the UNAMID
peacekeeping force in Darfur, as well as the current debate about the ICC
discussion of the possible indictment of Sudan's president Omar Bashir."China
is the largest foreign investor in Sudanese oil, and Sudan's largest trading
partner. Sudan supplies roughly 7 percent of China's oil imports.
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Red Cross Says Media Reports Mainly Negative News About Africa
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Spokesman for International Federation of Red Cross and Red Crescent Societies
says there are many positive indications that the African economy is getting
stronger and governments are becoming more accountable
The International Federation of Red Cross and Red Crescent Societies is
launching a new initiative aimed at getting the media to report the good as
well as the bad news from Africa. Lisa Schlein reports for VOA from Red Cross
headquarters in Geneva. A view of one of the largest steel producing
companies in South Africa's industrial site close to the industrial port of
Saldanha bay, South Africa (File)Spokesman for the International Federation of
Red Cross and Red Crescent Societies, Paul Conneally, tells VOA that media
coverage of Africa focuses almost exclusively on war, famine and poverty. He
says a survey conducted among high-level policy makers in more than 30 donor
governments affirms this perception. He says success stories in Africa are
being overlooked in favor of stories that reinforce the image that the
continent is a basket case."More than 75 percent of the stories in Africa were
negative. And, this despite the fact that there are many positive indications
that the African economy is going from strength to strength, that governments
are becoming more accountable. And we just wanted to facilitate this
discussion and this initiative to try and focus a more positive light on the
continent of Africa," he said.Conneally agrees humanitarian organizations are
faced with a dilemma. He says aid agencies seeking funds for relief operations
in Africa have to stress the suffering of Africans who lack food or health
care. Yet, this, he says just reinforces the image of Africa as being beyond
hope. He says it is important to balance these negative perceptions with
positive images. He says there are many success stories, which usually go
unreported. For instance, he notes the Red Cross has almost tripled its
ability to respond to emergencies, while natural disasters in Africa have more
than doubled in the past two years. "Additionally to that, we have succeeded
primarily through the community level, dedication, and commitment and skill of
Red Cross-Red Crescent volunteers to reduce mortality through measles by some
91 percent over the last four years," added Conneally. "This is a phenomenal
achievement by any success, by any standard. And, if you scan the media today,
you will not find the story. It is completely beneath the radar." A majority
of those surveyed say they are optimistic about Africa's future, but none are
very optimistic. Only two of the respondents in the 30 donor governments say
they are pessimistic. The greatest concerns for Africa's future are centered
on economics and governance, followed by conflict and external relations, food
security, climate change, HIV/AIDS and slow progress toward the U.N. Millennium
Development Goals.
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Experts Warn of China Health Time Bomb
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Chronic diseases claimed 74 percent of all 2005 deaths, up from 47 percent in
1973
International health experts warned China it must tackle a growth in chronic
diseases or face a health and economic time bomb.A report by U.S. and Chinese
researchers urged Chinese to cut their intake of fatty foods and salt, and to
stop smoking and start exercising.The report, in the British medical journal
The Lancet, also called on the government to launch campaigns to promote
healthier habits. The researchers said that as China has become increasingly
affluent, diets have worsened, putting a growing number of Chinese at risk of
heart and lung disease. China is debating the creation of a universal health
care program that aims to provide health insurance to all of its 1.3 billion
citizens by 2020.According to the report, 177 million Chinese currently suffer
from hypertension, a condition blamed in part on high salt consumption. The
report says Chinese cigarette use is on the rise. It is estimated that Chinese
smoked more than 2 trillion cigarettes in 2006.Although infectious diseases
plagued the country prior to 1990, chronic illnesses are now the leading cause
of death.Figures show that in 2005, chronic illnesses accounted for 74 percent
of all deaths, up from 47 percent in 1973.
Some information for this report was provided by AFP, AP and Reuters.
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