Wednesday, 29 June 2011

Blackstone asked for additional information on remuneration from SEC (Reuters)

NEW YORK (Reuters)-Private equity and real estate firm Blackstone Group (BX.N) was recently asked by the Securities and Exchange Commission to provide additional information about how pays its executives, according to regulatory filings made public on Monday.

The revelation was made in a letter sent to the SEC that Blackstone dated 9 may, responding to a series of questions about how the various prizes were determined.

The SEC had noted in a letter dated 25 April that Blackstone appears to use "several factors to determine a basis" for executives and determines an "indicative interest of participation" for each individual delegate.

"These figures are then subject to adjustment by Schwarzman (CEO Stephen), in its sole discretion," the filing reads.

The SEC asks that in future filings, Blackstone details the nature of "individual performance factors every Executive".

Blackstone responded in his letter of 9 May that these figures are "internal measures that are applied to a number of individual companies and partnership".

It is said that it took into consideration variables such as performance, economic performance and success of Blackstone in hitting strategic targets.

Bloomberg previously reported the contents of the letters.

(Edited by Bernard Orr)


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President of Peru opens giant statue of Christ (AP)

LIMA, Peru-Peruvian President Alan Garcia has inaugurated a giant statue of Jesus similar to iconic Christ the Redeemer in Rio de Janeiro despite opposition from the Mayor of the capital city of Peru.

"Christ of the Pacific" is 72 feet (22 meters) tall and is located atop a concrete base (15 meters) 49-foot. It overlooks the Pacific Ocean from Lima.

With a Bible in hand, Garcia inaugurated the work Wednesday, saying: "Lord Jesus Christ protect Peru on his path of harmony, forgiveness and reconciliation".

The statue of Jesus with her arms spread has been criticized for its lack of originality. Mayor of lima Susana Villaran said there are other places you could go over his city.

The statue was donated by the Brazilian company Odebrecht.


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Lagarde of France elected new IMF Chief (Reuters)

WASHINGTON (Reuters)-the International Monetary Fund on Tuesday elected French Finance Minister Christine Lagarde as the new CEO of the global lender.

"The Executive Committee of the International Monetary Fund today Christine Lagarde has chosen to serve as the IMF, CEO and President of madame of the Executive Committee for a term of five years starting in July 5, 2011," the IMF said in a statement.

His victory was assured after emerging powers of China, Russia and Brazil declared their support for her and the United States followed with his approval before the Council meeting on 24-Member.

(Reporting by Lesley Wroughton; Editing by James Dalgleish)


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Duars! There was an explosion at an ATM BNI Bandung, suspected of Bomb

Bandung -An ATM BNI in the store page, Jl Dipatiukur Rabbani, Bandung city, exploded. The explosion occurred, Thursday (29/6/2011) around 02.15 pm.

One officer, security guard, said the current manning Arminto, he heard the sound of pounding. "I thought it was a collision, but after approaching her voice in a space That was once there ATM. Sparks," he said at the scene.

The information compiled detikcom, alleged ATM machines was bombed. ATM BNI room doors are made of aluminium it terlontar up to 10 meters. "I came to the door is already a mess," said Arminto.

In the store pages that sell Moslem Rabbani was set to be three of the ATM, the ATM Bank Jabar Banten and ATM BRI along on the right ATM BNI.

Until 05.30 P.M., team identification of Polrestabes in Bandung that add up to 5 people still perform the identification. The police have also been outlined in a location with a radius of 25 meters.

(lrn/lrn)


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Downs Of PDT in the Interior

, Nias -bad weather in the region of Gunung Sitoli made aircraft circled for 20 minutes over the islands of Nias. Heavy rain and a great shake-up make all passengers become pale and frightened.

After the captain tried to carry out the landing aircraft and failed, eventually the captain decided to return to the airport Polonia, Medan, North Suamtera.

"Visibility is only 1 kilometre and the weather at the airport Gunung Sitoli is not good, we will return to the Field as well as fuel has thinned," said Pilot plane Captain Arif.

That day, Tuesday (3/6) yesterday, was Minister of regional development Lagged Helmy Faishal Zain I will review the areas left on the islands of Nias.

"Thankfully, the pilot took the right decision to come back," said detikcom Helmy to while on the plane back toward the field.

With a smile, Helmy claimed had a myriad of experiences in life-threatening trip served as Minister of PDT.

The next day, Wednesday (28/9), the youngest Minister in the Cabinet KIB-volume II was returned to Nias uninterrupted means.

"Thank goodness this time travel safe and we fulfill our promises with the community here," as the star.

On the sidelines of his journey around the South Nias, Helmy recounts, before in Nias, himself also sobering experience while visiting the Interior of Papua are Warsemban and Amdamete.

"We are using boats to get there and it was also very bad weather and big waves are high," he recalls.

He was with the troupe uses three pieces of the boat. One ship that delivered it is police patrol boats.

"Now the ship is in front of Patwal it was hit by a wave and overturned. Fortunately no casualties and other officials were able to swim, "he explained.

By Helmy, during Minister REV., himself has been a lot of traveling in areas lagging behind. If the calculated, to the present he had come up to 110 counties.

"The Government needs the society were present in their midst," said Helmy.

While in public, claiming to be listening to the requests-Helmy requests everyone. However, Helmy pleaded not the origin of the pledge because it takes the community is a stimulus to begin work to build his village.

"All it takes is not the origin of the process and so on. We provide help and hope the community can crack down on lanjutinya, "he said.

So still want inland Pack? With a smile, Helmy menjawa that it is his duty to visit the area left and border.

(fiq/lrn)


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Obama chides GOP on conflict negotiation of debt (AP)

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WASHINGTON – In a blistering rebuke of Republicans, President Barack Obama on Thursday pressed lawmakers to accept tax increases as part of a deal to cut the nation's crippling deficits and avoid a government default. "Let's get it done," Obama challenged, chiding Congress for frequent absences from Washington.

Senators from Obama's own Democratic Party quickly said they'd consider canceling next week's July 4 recess to work on a possible agreement, and as the day went on senators said they assumed they would stay.

In a White House news conference, Obama offered one fresh wrinkle to try to give the economy a lift and pessimistic voters, calling on Congress to pass a one-year extension of the Social Security payroll tax cut that employees got this year. But he used most of the hour-long session to try to sway public opinion his way on the debt debate consuming Washington.

Obama accused Republicans of intransigence over tax hikes, comparing their leaders to procrastinating children and painting them as putting millionaires, oil companies and jet owners ahead of needy students. One Democratic official said that in talks to date, the administration was seeking roughly $ 400 billion in higher tax revenue over the next decade.

Responding quickly to the news conference, the Republican House Speaker, Rep. John Boehner of Ohio, shot back that the president was ignoring reality.

"His administration has been burying our kids and grandkids in new debt and offered no plan to rein in spending," Boehner said as the day's events seemed only to entrench both sides. "The president is sorely mistaken if he believes a bill to raise the debt ceiling and raise taxes would pass the House. The votes simply aren't there. "

Obama insisted he wouldn't support a deal to cut the deficit unless it includes higher tax revenue, not just spending cuts. Republicans have refused to consider that. The stalemate threatens to derail an extension of the nation's $ 14.3 trillion debt limit, which in turn could lead the government into an unprecedented default.

"They need to do their job," Obama said of Republicans. "Now's the time to go ahead and make the tough choices."

Professing optimism — but with a bite — the president said, "Call me naive, but my expectation is that leaders are going to lead."

Obama's aggressive response came with the country souring on the recovery, the Republican presidential contenders taking aim at his economic record and GOP leaders in Congress challenging him to show more leadership in the debt stalks. His re-election hinges on the economy, and Obama is trying to restore a sense of public confidence.

The Treasury Department says the government is on pace to begin failing to pay its bills by Aug. 2 unless Congress votes to allow the limit on federal debt to rise.

Obama declared that is a "hard deadline" and warned that waiting too long could spook capital markets and prompt investors to bail. Here, too, he tried to put heat on Congress by saying lawmakers should cancel any plans to take days off in July if they can't make substantial progress by the end of this week.

Democratic Senate leaders met later with Obama at the White House and sent word they were considering canceling next week's scheduled recess.

"I think we are going to be here next week, Senate Budget Committee Chairman Kent Conrad, D-n.D., said. "No announcement has been made, but to me it's pretty clear."

Conrad said he would unveil a Senate Democratic budget that Democratic senators on his panel signed off on Wednesday. He said there would not be a vote on the plan.

Before that, Republican Rand Paul of Kentucky said that if the Democrats keep the Senate schedule "they are running from this debate." And Sen. Ron Johnson, R-Wis., said, "The fact that anyone would even consider recessing at this point in time is absurd."

The House, under Republican control, has been in recess this week but is to return on Tuesday. Democrats hold a majority in the Senate.

Obama said even his daughters, 12-year-old Malia and 10-year-old Sasha, get their homework done ahead of deadline. "Congress can do the same thing," the president said. "If you know you've got to do something, just do it."

Obama sought to reframe the entire debt debate in terms people would care about, accusing Republicans of protecting tax breaks for corporate jet owners on the backs of college students who would lose their federal aid — even though there is no direct relationship between that provision and any particular tax budget cut. He spoke of eliminating tax cuts that favor the rich and oil companies — "I don't think that's real radical," he said — but Republicans contend the White House is pursuing to broader tax changes that would undermine job creation.

At his first formal White House news conference in more than three months, Obama also pushed back against Republican criticism of the Us-aided military campaign in Chechnya, saying congressional concerns about consultation were not substantive.

And he even took a sharp tone toward the business leaders that his White House has tried to court. "The business community is always complaining about regulations," he said in response to one question. "Frankly, they want to be able to do whatever they think is going to maximize their profits."

The president stepped to the podium not long after the International Monetary Fund publicly urged lawmakers to raise the Us debt limit, now $ 14.3 trillion, and warned that failure to do so could produce a spike in interest rates and "severe shock to the economy and world financial markets."

Obama also spoke on the same day that Senate Republicans announced support for a balanced budget amendment to the Constitution that would establish a new requirement for a two-thirds majority of each house of Congress to raise taxes. "Washington has to stop spending money we don't have," said Sen. Lamar Alexander, R-Tenn.

On the deficit, Obama said both parties must be prepared to take on their sacred cows "as part of the negotiations, with Democrats accepting cuts in government programs.

Republicans in Congress have been insistent in recent days that any deficit reduction be limited to spending cuts, including reductions in benefit programs such as Medicare and Medicaid, and exclude additional revenues.

Senate Republican leader Mitch McConnell of Kentucky said Wednesday that Obama "can't call for tax hikes and job creation. It's one or the other. "

At Obama's behest, Vice President Joe Biden met for weeks with bipartisan teams from the House and Senate on a package to cut the deficit and, in turn, earn support to raise the debt limit to pay for costs already incurred. Democrats proposed about $ 400 billion in additional tax revenue, including ending subsidies to oil and gas companies.

The talks halted when Republicans said there was an impasse over the tax issue, and they called on Obama to get more involved.

He bristled over that at the news conference and suggested that ultimately Republicans will give ground on the need to raise revenue, not just cut spending.

"Here in Washington, a lot of people say a lot of things to satisfy their base or to get on cable news," he said, "Hopefully, leaders at a certain point rise to the occasion and they do the right thing for the American people."

___

Associated Press writers David Espo, Erica Werner and Laurie Kellman contributed to this report.


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Wall St registers the largest wave of 3 days in 3 months (Reuters)

NEW YORK (Reuters)-Wall Street closed the three-day best carried out in three months on Wednesday, after the Greek Parliament has approved austerity measures to avoid defaulting on its debt.

Optimism about approval of the plan helped the stock market recover some of its losses the past two months. The CBOE volatility index (.VIX), "fear, Wall Street Indicator" fell 9.9 percent to 17.27, its third straight decline.

Greek lawmakers approved a five-year package of spending cuts, tax increases and sales balance sheet with a comfortable margin of 155 votes to 138 in a roll-call vote, delivering a significant victory for embattled Prime Minister George Papandreou.

"Scary entire month of June was healed with these Nice three days we had," said Wayne Kaufman, Chief market analyst at John Thomas financial, New York. "This is a pretty good indication that you have a floor under the market now."

The Dow Jones industrial average (.DJI) earned points 72.73, or 0.60 percent, to 12, 261.42. the & 500 Index (Standard Poors.SPX) rosa 10.74 points, or 0.83%, up to 1, 307.41. The Nasdaq Composite Index (.IXIC) added 11.18 points or 0.41%, 2, 740.49.

Kaufman said S & P 500 reconquest of his low, about 1,295 April was a positive sign, but he noted that the index in the face of resistance to its 50-day moving average at 1.316.

Financials ranked among the best performers of the day. Bank of America Corp. (BAC.N) rose 3 percent to $ 11.14 after it was reached a settlement of $ 8.5 billion with mortgage bond investors. The financial sector index S & P (1.1 Per cent came from GSPF).

(N) of Visa and MasterCard (MA.N) hit 52-week highs and gave the market a Boost late after the Federal Reserve staff recommended almost doubling a proposed cap on amount can charge retailers when you use a debit card. Visa's shares jumped 15 percent to $ 86.57 11.3%, while MasterCard had risen to $ 309.70.

But with the & S P 500 up more than 2% this week, there were signs of weakness in recent gainers such as technology. The Philadelphia semiconductor index (.SOX) dipped 0.1 percent.

Breadth of market, or the difference between the rising stocks and those that fall was close on Nasdaq technology heavy as only slightly more stocks rose then fell.

"The rally has really had a lot of momentum-volume was light yesterday and today that leads into a holiday weekend," said Paul Brigandi, a portfolio manager of Direxion Funds in New York.

Analysts said that fund managers were probably engaged in "window dressing" at the end of the quarter. The process involves adding to the winners from those names of purchase and sale of losers to make portfolios look better. The activity can help drive prices of stocks.

Goods-related shares also moved higher, as the euro climbed and the US dollar index (.DXY) fell against a basket of major currencies. Commodities often move inversely to the dollar as they are priced in u.s. currency on international markets.

The sector index (PHLX oil service.OSX) gained 1.8 percent, encouraged by a gain of 3.7 per cent in Transocean Ltd. (RIG.N) to $ 63.99.

Monsanto Co. (Mon.N) advanced 5 percent to $ 70.26 after its quarterly profits topped estimates, while General Mills Inc. (GIS.N) increased 0.5 percent to $ 37.38 after the cereal maker's fiscal year earnings forecast weaker than Wall Street expected.

In other news companies, BJ's Wholesale Club Inc. (BJ.N) added 4.6 percent to $ 50.29 after it agreed to an acquisition by Leonard Green private equity partners & and another group.

Approximately 7.19 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq-below the daily average so far this year of about 7.57 billion.

Advancing stocks outnumbered declining ones on the New York Stock Exchange in a ratio of about 7-3. On the Nasdaq, rose almost seven stocks fell for every six.

(Reporting by Edward Krudy; Editing by Kenneth Barry)


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Boat Tour leaves snorkeler U.S. on the coral reefs of Australia (AP)

SYDNEY – Australian officials said Wednesday they were investigating a diving boat that accidentally left behind a U.S. tourist snorkeling on the great barrier reef, forcing the man panics to swim for another boat for help.

A company spokesman denied that Ian Cole was never in danger. But it drew immediate comparisons to the infamous case of American Tom and Eileen Lonergan, who died in 1998 after their boat tour on the left while diving on the reef. Officials believe they drowned or were eaten by sharks.

Cole, 28, of Michigan, said he was snorkeling on Saturday, when he lifted his head from the water and realized his boat tour, the passions of paradise, was nowhere in sight.

"The adrenaline shot and I had a moment of panic, which was the worst thing I could do at that point," Cole told the Cairns Post. "I was able to calm me just a little bit because there was another boat still out there and I made my way to ship. Lucky that I was there because otherwise I could have drowned. Didn't handle it well and I was tired. "

A spokesman for the State Security Agency work, workplace health and safety Queensland, confirmed the Department was investigating, but refused to comment further.

Passions of paradise referred calls to the Association of Marine Park Tourism Operators delegate With McKenzie, who did not immediately return messages from The Associated Press. But he said that the Post that Cole was never in danger of drowning, since other boats were nearby.

A member of staff who led a head count on board the boat broke the rules by failing to obtain the signature of Cole to confirm who was on board before he left, McKenzie said. The staffer was fired.

Father of Cole, Jim Cole, said her son grew up in Farmington Hills, Michigan, but he lives and works in Australia for about a year and plans to return to the United States on 4 July.

"Everyone said, ' you've got to see the great barrier reef '," said Jim Cole. "He was always a small tour before he returned home."

Attempts to reach Ian Cole to numbers given by father were unsuccessful.

Safety regulations for operators of recreational boat dive on the reef were strengthened after the Lonergans were abandoned in 1998. Their case inspired the 2003 film "Open Water".

Still, a handful of tourists reef are found drifting since then. In 2008, a British diver and his American girlfriend was lost when resurfaced from a dive on the reef and found themselves far from their boat dive. A helicopter rescued them after they have spent 19 hours in the ocean.

___

Associated Press writer Jeff Karoub in Detroit contributed to this report.


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Contrast: Brother-in-law SBY So Dominant KSAD, Shades Of Nepotism

Jakarta -President Susilo Bambang Yudhoyono has chosen Chief of staff of the new TNI AD. He chose his own brother-in-law, General Pramono Edhi Wibowo. Koordinaor Commission for missing persons and acts of violence (Contrast) Haris Azhar, see the nuances of nepotism in this election.

"Shades of nepotism is more dominant in this election. The reason, the first General Pramono Edhi is not the best candidate. Lt. Gen. Budiman and Lt. Gen. young Marciano. Lt. Gen. Marciano more clearly in the settlement of cases of violence which existed in his men, "said Haris told detikcom, Friday (30/6/2011).

Haris said, career-General Pramono only moncer in Kopassus. Even then, he said, had '' tarnished '' by the attack on the home of Bishop Belo in East Timor. The attack took place when General Pramono Kopassus Commander Golfur in 1999.

"Secondly, General Pramono Edhi not known his vision about the reform and construction of the TNI AD. If the objective is supposed to be Lt. Gen. Budiman or Lt. Gen. Marciano was selected, although the two names is also below average, "he said.

Therefore, according to this election is a testament to Haris that SBY was formed the regime of the family. The Government further Haris, SBY, Government is not professional.

"More people Deserved enggak believe with him if practically to promote General Pramono Edhi to 2014, I think the figure is not Pramono Edhi right to the leadership of this nation forward," he asserts.

Secretary Silalahi denied this election could be called as KSAD nepotism. His opinion, anyone who is currently serving President, General Pramono fixed would be KSAD.

(adi/lrn)


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: Blast of Kapolda Jabar ATM BNI Bandung because Molotov

Jakarta -West Java Kapolda Inspector Pol Putut Eko Bayuseno said there were no explosives in the explosion at the ATM BNI, Jalan Dipatiukur, Bandung city, in the early hours. An explosion believed caused by a molotov cocktail.

"Not found the explosives. This allegedly molotov for the scene found a bottle of petrol smell and wheelbase, "said Putut when reviewing the location of the incident, about 150 meters from the campus Unpad, Friday (30/6/2011).

Putut explains, it is a molotov cocktail bottle plastic bottles of mineral water 600 ml. "With the axis of 10 cm," he said.

Putut says, it is still investigating the perpetrators of the explosion. Asked if the blast related day Bahari falling 1 July tomorrow, do not want to speculate Putut. "We have yet to conclude this matter. Motive was still we investigate, "he said.

As known, after blowing up ATM BNI, the perpetrators left a message in the leaflets that spread around the site. The contents of the leaflets was one of them criticised the police institution.

"State, the INSTITUTION of the military, the police, AS WELL AS TERRORIST FINANCIERS are ACTUALLY! ," so the contents of the leaflets.

(lrn/lrn)


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Today The Mafia Panja Election Cecar Andi Nurpati

Jakarta -Panja Mafia Election Commission II of the HOUSE today will be the amount of information surrounding the memintai fraud letter MK. one that will be asked for your description is a former member of the Election Commission, Andi Nurpati.

"There are some who will be asked for a description of the CONSTITUTIONAL COURT and the Election Commission, including Andi Nurpati. We will mericek everything, "said Vice Chairman of Commission II, Ganjar Pranowo detikcom, to, Thursday (29/6/2011).

Panja memintai would be a description of the various parties in a single day. This, according to time, for the sake of efficiency Ganjar.

"Each two hours is enough. Do not let the interlocutor to nowhere and no substantive focus. And make me do not affect who asked at the beginning or at the end, "he said.

To all those who are called, Panja will focus questions on what they know naturally, and they're working on. Included in this to Nurpati.

"The Mother of course we would have Andi clarification about the Constitutional Court, about his encounter with Hasan (interpreter call MK-red) in JakTv, plenary meeting of the ELECTION COMMISSION and so on," said PDI politician this struggle.

Hear a description of the various media, Nurpati Ganjar suspect information delivered Nurpati will vary with the findings of the investigation team MK. According to, a description of whatever Ganjar be delivered Nurpati be right in question. However, to obtain the truth, to bring together Ganjar Panja encourages parties who give different information to dikonfrontir.

"I think later on to do a confrontation. It will look offense which is the abutted defense. To say Yes and there's not enough the first and second course, necessarily need a third party that clarify, "he said.

Andi Nurpati allegedly make bogus letter letter MK. essentially make caleg Partai Hanura, Goddess of Yasin Clean, to pitch to the Senayan, he uses in the plenary meeting. Because of the Constitutional Court, the decision was caught was eventually cancelled. However, Andi Nurpati still reported to be the Chairman of the Constitutional Court, Mahfud MD to the police.

Police are still investigating the case. Numerous Nurpati who is now Chairman of the Public Communications Division of the Democratic Party is denied tudingan.


(adi/lrn)


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Halliburton eyes Polish shale (Investor's Business Daily)

The oilfield services company sees growth potential in Poland, where a basin shale gas has attracted the attention of major oil companies, a Halliburton (NYSEHAL -: News) Executive told Reuters. Drilling activity is seen picking up the next year, and the company is scheduled to begin drilling a well for Chevron (NYSE:CVX - News) in the third quarter. In may, the Polish Government said it had been engaged to shale gas, despite environmental concerns related to hydraulic fracturing. Shares rose to 2.3% to 49.82.


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FUEL crisis Hantui the implementation of the National Scout Jamboree that will be Opened SBY

Palembang -National Jamboree IX in Camping Telukgelam, Ogan Ilir (OKI) Histories, South Sumatra, which will open President Susilo Bambang Yudhoyono on 2 July 2011, the oil Fuel crisis haunted (BBM) types of premium and diesel. Therefore, the OIC hopes Pertamina to supply FUEL to immediately send the OIC so that National Jamboree held IX took place smoothly.

"Already some of today's gasoline and diesel FUEL are particularly scarce in the OIC. Almost all the GAS STATION there was no fuel. There are a number of vehicles to be lining up for days, "said Kayuagung Sartono, citizen, Thursday (29/06/2011).

"If this condition lasts until the implementation of the wah Scout Jamboree, I can't imagine it, how much the vehicle broke down, and the activity will be stopped," he added.

Therefore, Sartono mengaharapkan Pertamina FUEL supply is immediately sent to the OIC. Currently, Sartono should buy gasoline for his motorbike from retail, hargaya Idr 10 thousand per litre. Two days ago, the price ranged from Rp 8 thousand per litre.

According to Saluti, a retailer of gasoline in the hamlet of Geni, Series of gasoline that they sell in retail it purchased a GAS STATION in Palembang that uses jeriken. "It costs more expensive than usual since it was purchased from Palembang," he said.

This makes the Langkanya FUEL Committee nor the National Jamboree IX supporters feel once its effects. "Well, the cost of transport being doubled, it still had to scramble at retail," said Firdaus, a companion to the participants of the Nusa Tenggara Timur (NTT).

"Pertamina should immediately send supplies to the OIC in order for this national event is running successfully," he said.

(tw/lrn)


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SEC proposes rules of conduct for swap dealers (Reuters)

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WASHINGTON (Reuters)-Swap concessionari avrebbero bisogno di rivelare ulteriori informazioni ai clienti e fornisce maggiore protezione ai clienti come i fondi pensione e comuni sotto nuove regole proposte dai regolatori titoli il mercoledì.

La Securities and Exchange Commission proposta mira a scoraggiare le pratiche abusive, aiutare gli utenti di swap a gestire i rischi e per fornire maggiore chiarezza ai concessionari su ciò che costituisce la consulenza e i limiti che consigli pone sul loro ruolo.

Le regole di comportamento di un rivenditore di swap sono richiesti per la legge di revisione Dodd-Frank Wall Street che ha diviso la responsabilità tra il SEC e Commodity Futures Trading Commission per il mercato over the counter derivati quasi 600 miliardi di dollari.

Una proposta di CFTC parallela è stata criticata dall'industria swap per la definizione dei "consigli", possibilmente impedendo loro di servire alcuni client.

La proposta di SEC 200-page-plus si applicherebbe a swap basato sulla sicurezza commercianti e rivenditori come Goldman Sachs, Morgan Stanley e JP Morgan Chase quell'affare in prodotti come credit default swap e derivati di equità.

La SEC ha votato 5-0 per emettere la proposta e prendere i commenti del pubblico fino alla fine di agosto.

Swap sono prodotti finanziari che permettono di parti per proteggersi dalle esposizioni rischiose, come le fluttuazioni dei tassi di interesse o predefinito su obbligazioni di una società.

In generale, nei rapporti con clienti norma proposta del SEC richiederebbe concessionari di divulgare informazioni sui rischi di materiali, incentivi e conflitti di interesse. Si devono inoltre fornire informazioni sulle normative che regolano la compensazione centrale, comunicare abbastanza, stabilire una struttura di conformità e assumere un chief compliance officer.

Se un rivenditore effettua una raccomandazione a un cliente su un commercio, il dealer anche dovranno garantire che la suggestione è adatta per il cliente, simile a una regola che il Financial Industry Regulatory Authority impone ai mediatori.

Oltre a stabilire regole per rapporti cliente largamente, proposta SEC contiene anche requisiti supplementari per i concessionari che agiscono come controparti o consulenti di "entità speciale", tra cui comuni, dotazioni e piani pensionistici, che possono essere meno sofisticati e più a rischio.

SPECIALE ENTITÀ

La legge richiede concessionari che consigliano speciale entità ad agire nel migliore interesse dei loro clienti. Concessionari che agiscono come controparti per i commerci, nel frattempo, devono assicurarsi che le entità speciali hanno un rappresentante indipendente di agire nel loro interesse.

"Le regole che noi proponiamo oggi sarebbero livellare il terreno di gioco del mercato di scambio basato sulla sicurezza portando la trasparenza necessaria a questo mercato e cercando di garantire che i clienti in queste transazioni sono trattati abbastanza", ha detto il Presidente SEC Schapiro di Mary.

La SEC stima che i fondi pensione circa 1.200, donazioni ed enti pubblici utilizzano qualche tipo di credito-default swap. La stragrande maggioranza di questi già utilizza consulenti per aiutarli a prendere decisioni di investimento su operazioni in derivati.

Come è definito il termine "consulente" è diventato un'importante fonte di controversie nel piano di CFTC, che è stata proposta la fine dello scorso anno.

L'industria di swap ha detto che piano di CFTC prende un panorama su ciò che costituisce il "Consiglio" che fornisce alle entità speciale. Rivenditori di swap paura che potrebbe essere doppiati improvvisamente consiglieri ed essere tenuti ad agire nel migliore interesse dei loro clienti.

Questo a sua volta avrebbe efficacemente impedisce loro swap di vendita ai clienti, perché sarebbe impossibile agire nel migliore interesse dei loro clienti e contemporaneamente commerciare con loro per il loro tornaconto finanziario.

Piano del SEC mira ad affrontare tale preoccupazione fornendo maggiore chiarezza su ciò che costituisce dando consigli e rivenditori che permette di scegliere tra agire come consulenti o come partner commerciali con i fondi pensione e altre entità speciale.

Non si sa esattamente quanti "entità speciale" possono cadere sotto il piano del SEC. Molti comuni utilizzano derivati di tasso di interesse, un prodotto sotto la giurisdizione di CFTC.

(Segnalazione di Sarah N. Lynch; Editing da Tim Dobbyn, Dave Zimmerman)


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SDA Could Face Difficulties If The Muqowam-Yani-Muchdi ' United '

Jakarta -Candidate incumbent Suryadharma Ali (SDA) judged most opportune to win the fight to seize a Chair Chairman in Mukatamar VII PPP beginning next July. However, it could be different if the other candidate, Ahmad Muqowam, Ahmad Yahi and S2000 rally strength.

"If Muqowam, Yani and unified, Muchdi will face a serious challenge Suryadharma," said political observer from the Agency Survey Indonesia, Burhanuddin, while talking with Muhtadi detikcom, Friday (30/6/2011).

Burhanuddin said, if only the entire power Muqowam-Yani-Muchdi was merged with the agenda of the ' origin is not the SDA ', ' not impossible SDA will face difficulty. " However, if the three challengers SDA it fought independently, their powers will be fragmented and difficult to beat the SDA.

Burhanuddin said, of the potential of each candidate for Chairman, SDA is currently still the strongest in terms of experience, financial and networking opportunities. Moreover, he is currently also served as Minister of religion.

Nevertheless, he adds, to the front of the PPP which decreased sound from election to election, can not just resting on the leadership of the Chairman. Because of the candidate, yet no ketum PPPS can boost the popularity of the PPP in the public eye.

"PPP takes collective work facing elections," he said.


(lrn/adi)


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Manufacturers of home fire sprinkler laws again beating (AP)

HARTFORD, Connecticut – almost three dozen States have rejected the idea of requiring sprinkler systems in homes by promulgating laws or regulations which prohibit the installation mandatory.

Home Builders, still reeling from the recession, say that require sprinkler I will add to their costs. They found allies in legislatures and regulatory bodies that have turned aside arguments by fire safety officials requiring sprinklers in homes save lives.

The National Association of Home Builders has not taken a position on State action prohibiting mandatory sprinklers in homes, said program manager Steve Orlowski, but the group claimed that installing residential sprinklers should be up to homeowners.

Either through legislation or code, 34 States have prohibited compulsory residential sprinklers, Orlowski said. Only two States — California and Maryland — have adopted codes that require the installation of sprinklers in homes, he said.

In other States, sprinkler legislation has died or is pending until next year, according to the National Conference of State legislatures.

Connecticut, for example, is returned to action until next year. A measure requiring automatic fire-fighting systems in one-and two-family homes failed to make it to a vote of the Committee of public safety and fire safety.

Senator Anthony Guglielmo, Republican Senator of the positioning of the Committee, said lawmakers do not have enough information about the cost to manufacturers and municipalities would enforce the law. Lawmakers will take up the issue next year only after hearing the recommendations of officials and others brought together by the Department of public safety, he said.

International Code Council, an organization of construction inspectors, fire officials and others who set construction standards, recommended in 2009 which States and municipalities adopt codes requiring sprinkler systems in homes and townhouses of less than three stories high. The regulation entered into force on 1 January.

The National Fire Protection Association said sprinklers will contribute in particular to children, the elderly and the disabled by giving them time to escape by burning the houses.

Opponents to require sprinklers mentioning their cost — and the consequent impact on House prices — and voter dissatisfaction with government mandates.

Missouri lawmakers extended for eight years rules requiring manufacturers to offer but does not mandate sprinklers.

"Our main concern in this housing market, is that the requirement for mandatory sprinklers could cost $ 7,000 to $ 15,000 at home," said Eric Schmitt Missouri state senator, Republican Chairman of jobs, economic development and local Government Committee. "In this market, it is very difficult to justify."

New Hampshire Governor John Lynch tried to auction legislation that banned local planning boards that require sprinkler systems in homes as a condition of approval for permits. The decision about whether to require sprinklers must be a local, Lynch said.

Lawmakers overrode the veto.

Senator John s. Barnes, Republican Chairman of the municipal Public Affairs Committee, said that the vote to override was not easy, because he typically favors local control. But does not believe that any government body should be ordering homeowners to install sprinklers.

"Whether to purchase or build a House, I think I have to decide if I put in an irrigation system," he said.

John a. Viniello, President of the National Fire Sprinkler, said the process by which the codes are approved is defective. Codes that regulate the wiring, construction and other aspects of home building are informed by the opinion of an expert from industry and others, he said.

But when legislatures have a role in the process, too often are modified codes or sunk, he said.

"Once the politicians involved, is finished," he said.


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The Intercontinental attack Kabul: the Taliban Clear message (Time.com)

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Ali Omar and his son Ali Omar had returned to Kabul for a visit. The father had moved to the U.S. years ago and the son was born there. On Tuesday, they were having dinner by the pool of the Intercontinental Hotel in the Afghan capital where they were staying during their trip. It was a festive evening with several parties of well-to-do Afghans celebrating birthdays and other occasions. Then came the sound of gunfire. "The police told us it was some kids messing around and not to worry about it," says Ali Omar the younger, the owner of an Afghan restaurant in Fremont, California. "Then the gunshots kept getting closer and closer." His father adds, "At first, it was one or two shots from far away. After 15-16 minutes it was wild. War. Everyone was escaping."

Nine Taliban fighters had entered the heavily fortified Intercontinental Hotel in a brazen attack on foreigners and Afghan provincial officials who were in town to prepare for the wind-down of coalition forces set to begin in July. Once the intruders got past three heavily defended security checkpoints up a winding road and into the hotel - still decorated in a decaying, late 1970s style of plate glass windows, marble and heavy velvet curtains - there was chaos. Ali Omar the restaurant owner began videotaping what he saw. "I recorded it up to the point where a guy came in and started shooting into the crowd, then it was a free-for-all," he says. The video shows police standing on the pool deck with AK-47 rifles. People walk by the camera and Omar points out a policeman who he said was shot and killed minutes later. The tape cuts off as a loud explosion is heard. (See "The Taliban's War in Pakistan.")

Eyewitnesses say about 60-to-70 people, including women and children, were on the pool deck having dinner when men in white headscarves, carrying AK-47s and grenades and apparently suicide vests ran in shouting in Pashto and started shooting. The people on the pool deck all ran and jumped off the back wall, onto a steep, wooded hillside that leads down to a main road. The crowd had to knock down a section of a wall topped with barbwire to make it to safety on the street, according to the younger Omar, who recounted the episode, still in a blood spattered shalwar kimeez. Diners and hotel guests tell TIME the attack began around 10 p.m. Most of the fighting did not end until around 4 a.m., after NATO helicopter gunships killed three insurgents on the roof of the hotel. But the siege only came to a close early in the morning when the last bomber, who had been hiding out in the hotel, blew himself up.

The assault left between 18 and 21 dead and 13 wounded, Ministry of Interior spokesman Sadiq Sadiqi told TIME. Local news said nine civilians, two policemen, one Spanish national and nine suicide bombers were killed and that 13 civilians, five government officials and two NATO soldiers were wounded.

The Taliban had its official version. The group's spokesman Zabihullah Mujahid tells TIME that "eight suicide attackers entered from the west gate of the Intercontinental Hotel. One of them blew himself up at the gate. He killed some guards and police and destroyed the gate." Mujahid tells TIME that "only 13 foreigners were killed" without mentioning any Afghan fatalities. "The suicide attackers were contacting me while they were attacking and told me how many foreigners they were killing." He continues, "then they heard the helicopters coming. They went to the windows to shoot at them and they were killed by the helicopters. It was around 4 AM when we lost connection with them. Every five minutes they were calling us to tell us about the casualties."

The attack came a day after the end of a high-level meeting in Kabul that was preparing for the Bonn 2 Conference, a 50-nation meeting that will be held to discuss the upcoming security transition in July and the withdrawal of foreign military forces in 2014. Mujahid, the Taliban spokesman, told TIME that the target of the attack was guests staying at the hotel: governors and mayors from the three provinces and four cities - Kabul, Bamyan and Panjsher provinces and the cities of Mazar-e-Sharif, Herat, Lashkar Gah and Mehtarlam - that will be the first to see the security transitions from coalition to Afghan forces in July. (See "In Afghanistan, Civilians Help Soldiers in Counterinsurgency.")

As the transition draws near, the attack on the hotel has only reinforced the belief of Afghans and foreigners that Afghan forces are not ready to take over security responsibilities. "We heard shooting and we saw the police dropping their weapons and running from the area," says Noor Mohammad, a member of the National Directorate of Security who was still in uniform and had been at the hotel for his boss' birthday party. "I can't trust them. How can I trust them? They dropped their weapons because they heard some shooting. How can they ensure security for us? How can they fight against the Taliban? No way, I don't trust them at all," he says quietly as he cradled a hand that had been cut by barbwire as he helped his boss' children escape down the hillside.

"In any way possible, the program will be successfully implemented. Our enemies know that they don't have the capability to hurt our national intention," said Ashraf Ghani Ahmadzai, the Chief of the Security Transition Program. "Our country is ready to take any sacrifice necessary on this path," Ahmadzai said today at the government's first security handover conference, Tolo TV reported. But in light of today's attack many Afghans will continue to disagree.

Sahel Wafa, an Afghan who now works for a pharmaceutical company in London after having fled the fighting in the 1980s, watched the attack unfold from the roof of his parents' house. He saw the entire assault and the police reaction from his vantage point across the street from the entrance to the hotel. "I don't think they're ready to take over security. I suppose that as soon as the Americans troops leave, you will see a lot of chaos. Not only from the Taliban, but within the Afghan people, the society. I don't think the security forces are ready to take over at all."

(See "Osama bin Laden's Legacy: 13 Years of Terrorist Attacks.")

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Lagarde appointed first woman IMF Chief (AFP)

WASHINGTON (AFP)-Christine Lagarde French was named Tuesday to be the first female Chief of the IMF, faced with a crisis immediately as the eurozone Greek violent protests rocked 2011.

French Finance Minister, widely respected for his leadership during the financial crisis in Europe over the past three years, was chosen to replace the French colleague Dominique Strauss-Kahn, who resigned abruptly on 18 may, after being arrested in New York for the alleged rape of a Chambermaid of the hotel.

"The Executive Committee of the International Monetary Fund today Christine Lagarde has chosen to serve as the IMF, CEO and President of madame of the Executive Committee for a term of five years starting in July 5, 2011," the Fund said in a statement.

Lagarde, said, "is the first woman named to the top IMF post since the inception of the institution in 1944".

The Council of 24 members called both Lagarde and his rival for the position, the Mexican Agustin Carstens central banker, "qualified applicants" and that it has decided the Lagarde for consensus.


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A lose-lose for the Greeks in front of austerity measures (Time.com)

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As the antiausterity demonstration in Athens on Tuesday, June 28, devolved into familiar violent, tear-gas-soaked clashes between fringe anarchists and police outside Parliament, Giorgos Rallis shut off his television and stewed quietly about the immense dilemma facing his country.

On Wednesday, Greek lawmakers are due to vote on an unpopular austerity bill that includes more tax hikes and a controversial plan to privatize state-owned enterprises, including the Public Power Corporation (PPC), where Rallis has worked as a technician for 19 years. European leaders and the International Monetary Fund have already lent Greece €110 billion ($150 billion) and say that unless the government passes the austerity bill, they won't hand over the latest installment of bailout loans, totaling €12 billion ($17 billion). That would leave the country, which runs out of cash in July, to default on its massive sovereign debt. But many Greeks say the year of austerity they have already suffered in exchange for the previous bailout loans has impoverished Greeks and done nothing to help the country pay back its debt. (See photos of the protests in Greece.)

"The world has cornered us, and our own politicians have cornered us," says Rallis, 46, who escaped to the island of Evia, some 40 miles (65 km) away from Athens, to avoid the two-day general strike that shut down much of the country's public transportation, public services and businesses. "The populists in Europe ridicule us as a bunch of lazy people and tell us to sell the Acropolis. I am tired of this country being the easy target. Let Greece go bankrupt. Let all of Europe go bankrupt. I want them to stop bleeding me for money I just don't have."

Rallis is just one member of the quiet but angry majority that has Greek lawmakers nervous, even as world headlines are dominated by the dramatic images of young self-styled anarchists and far-left militants, many donning gas masks and crash helmets, fighting with police and one another. During Tuesday's protests, police fired several rounds of tear gas to disperse rioters and the rest of the crowd. More drama was unfolding inside Parliament, as Prime Minister George Papandreou and his new Finance Minister, Evangelos Venizelos, tried to keep Socialist lawmakers from defecting before the crucial vote. At least four deputies from the Socialist PASOK Party have said publicly that they may vote against the new austerity bill. If one more lawmaker votes against it, the bill fails.

Though opposition parties have been largely united against the new austerity measures, Elsa Papadimitrou, a deputy from the main opposition, the center-right New Democracy Party, said she was mulling a vote for the austerity package "to put the good of the nation above party interests," according to the Greek daily Kathimerini.

Meanwhile, the political maelstrom continues to worry leaders in Brussels. Some have discussed alternative options for Greece in case the austerity bill fails in Parliament. But the E.U.'s economic chief, Olli Rehn, shut down that talk. "There is no Plan B to avoid default," he said Tuesday. "The European Union continues to be ready to support Greece. But Europe can only help Greece if Greece helps itself."

Rehn added that Greek political leaders should be "fully aware of the responsibility that lies on their shoulders." But those same politicians also are facing historic levels of distrust from the Greek public, who view the country's political system as hopelessly corrupt and broken.

Papandreou's government - which has borne the brunt of the antiausterity backlash - is fragile, even after a Cabinet reshuffle last week that was meant to rally Socialist deputies who had lost faith in his Ministers. The reshuffle brought on board new Finance Minister Venizelos, a steely constitutional-law scholar who has a strong following in PASOK, but analysts say the move may only buy the party a little more time. (See why Greeks living in urban areas are going back to their ancestral villages.)

Pollsters and analysts predict that if the vote fails on Wednesday, the government will collapse quickly. But even if the new austerity bill passes, snap elections look increasingly likely. And even if there are new elections, it's unclear just who would lead the country, since polls show that Greeks also have little faith in the New Democracy Party and its leader, Antonis Samaras.

According to Christoforos Vernardakis, the president of leading polling agency VPRC and a political-science professor at the Aristotle University of Thessaloniki, the economic crisis is bringing to light a long-simmering political crisis in Greece. Since the mid-1990s, when political scandals became commonplace, "more and more people have suspected their politicians are involved in a network of unlawful and corrupt practices," Vernardakis says. "Now people are demanding from their representatives ethics, more efficiency in dealing with problems and a vision for the future. I doubt that these politicians of today can fulfill these demands."

But the prospect of bankruptcy, laden with political chaos, unnerves many Greeks, including Kostas Ifantis, a political-science professor at the University of Athens. He and others fear that the political polarization in Greece today could foment social unrest that in turn could upend the country and even the euro zone. "I hope cooler heads prevail and people sit down and work out what's best for all of us," Ifantis says. "This is not the time for posturing. When you stare at the abyss, you find your consciousness. That's my only hope."

But Giorgos Rallis says he lost hope a long time ago. His wages have been cut; his tax bill has gone up. He worries that he won't be able to pay his rent and support his wife and two young sons if he has to pay for more austerity measures. And he also worries that he will lose his job if the power company PPC is partially privatized.

"I am personalizing this, but why shouldn't I?" he says. "I feel austerity every single day. I see people losing their jobs and homes, eating at soup kitchens, losing their pride. Let the country go broke. I've already gone broke."

- With reporting by Leo Cendrowicz / Brussels and Nikolas Leontopoulos / Athens

See "Uprisings in Greece: Europe's Own Arab Spring?"

See how the drama in Greece could threaten the euro.

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Stranger Than Fiction: Kate Middleton and Jane Austen are distant cousins (Time.com)

"It is a truth universally acknowledged, that a single man in possession of a good fortune, must be to deprive it of a wife." Jane Austen would have written those words, but who would know that all these years later, a distant relative might actually be able to relate?

Ancestry.com did some digging and found that the new Member of the Royal family, Catherine Middleton, the Duchess of Cambridge and the legendary author, Jane Austen, are related.

Their common ancestor? That would be a certain Henry Percy, 1st Earl of Northumberland 2 in the first half of the 15th century. Percy is 16TH and 10th great-grandfather of Kate Austen's great-grandfather, making them-but of course! 11TH cousins, six times removed.

(Photo: Kate Middleton astonishing evolution of fashion)

"Find this connection between the Duchess of Cambridge and Jane Austen is very exciting because, in many ways, Catherine is the heroine of Jane Austen modern: a girl bourgeoisie, marrying the future King of England," said Anastasia Harman, lead historian for Ancestry.com family. "Jane Austen may have written on happily-ever-after, but it seems that Catherine has found a hero of nonfiction to spend his life with the epilogue-the distant past. "

It is understandable to see because ancestry is pushing the line of literature: remarked that Austen "novels are known for their pungent social commentary and the love story between the classes and her heroines for their wit, intelligence and spirit; are readers and hikers; are sisters and the faithful friends. "

(Special report: full time coverage of the Royal Wedding)

But ancestry also eager to play the fact that both women had an incredibly strong connection with their sister. In the case of Austen, referring to her sister Cassandra as "best friend and strongest supporter," stressing that when Cassandra was expelled for attending school at the age of 10 years, Jane then eight years refused to be separated, asking to go. In the case of Kate, her sister Pippa was a bridesmaid at the wedding and too recently enrolled in boarding school itself as well as Pippa Kate up to Scotland for the college.

This results in a rush of sales for the likes of pride and prejudice and and sensibility as Middleton's Legion of fans will embrace the news? Probably not. But just might give the Queen-in-waiting in Britain some ideas for how to whittle away the hours on the long flight of the Royal couple in Canada.

LIST: All time Top 100 novels

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Egypt: security forces clashing with protesters Cairo, Egypt (AP)

CAIRO – Egypt's security forces firing tear gas clashed with more than 5,000 protesters rock-launch of Central Cairo late Tuesday, leaving dozens of injured in the latest unrest to rattle the town, witnesses and medical officials said.

Clouds of tear gas and the wail of police in riot gear Tahrir Square forces sirens as security lines are submerged battled to regain control of the central square by the protesters, many of them relatives of more than 850 people have been killed during the revolution which overthrew the longtime ruler of Egypt, Hosni Mubarak.

Families are frustrated with what they perceive as the prosecution slow security agents who is believed to be responsible for the deaths of some 850 demonstrators during the 18 days.

Rocks and shattered glass littered the streets around Tahrir, as the protestors chanted: "down with the junta". Injured protesters lay on the ground, some bloodied and dazed, before the fighting ended after Interior Minister Mansour el-Essawy issued an order before dawn Wednesday to the security services to resign.

The confrontation began Tuesday when security forces cleared a sit-in outside the State television building families of demonstrators killed, said Noureddin, an engineer who gave only his name.

"I was in front of building this morning when security forces attacked the State television," he said. "Since then, things were escalating."

The protesters were United Tuesday evening, the Ministry of the Interior, where rumor had it that two demonstrators injured earlier in the day had been taken. It wasn't immediately clear what sparked the violence outside the Ministry, but in the end the protesters were throwing paving stones and security forces firing volleys of teargas and blocking off streets around the building.

The clashes then moved to the nearby Tahrir — the epicenter of the revolution of Egypt. In a view unseen since the early days of the uprising, the central lines of security troops in riot gear sealed off main roads leading into the square, while dozens of security vehicles were parked in side streets.

The shock response of the Government, which many of the protesters from the heavy handed tactics used by the security forces before the fall of Mubarak.

"Violence and security forces is the same, said Al Maataz Hassan, an engineer."Accuse people of being thugs, then the repression. It's the same mentality as before the revolution ".

Tuesday's clashes, perhaps more serious between security forces and protesters from the revolution, are an offshoot of the tumultuous transition period the country is going through, as it strives to move away from authoritarian to democratic system.

The transition has made a step forward Tuesday with an Egyptian Court to order the dissolution of the municipal councils more than 1,750, seen as one of the last vestiges of the rule of Hosni Mubarak.

The Administrative Tribunal's decision, announced by presiding judge Kamal el-Lamei, meets an important question of the protest movement that has prompted Mubarak from power.

Local councils, with over 50,000 seats filled by elections are widely viewed as rigged, were a backbone of support for the ruling party of Mubarak. They became particularly important after 2005 constitutional amendments require presidential candidates to get support from a contingent of local Council officials as well as by members of the national Parliament. Critics saw this as a springboard for Mubarak's son, Gamal, to succeed his father in Office.

The decision of the Court can still be appealed, but popular opposition, can make it difficult for current military rulers of Egypt for the challenge.

Hamdi el-Fakharani, an engineer who has filed a court case against the boards, said 97 percent of Board members belonged to the now-dissolved Mubarak's National Democratic Party.

"They had already started a campaign by the municipal services to influence people in favour of the return of the party and saying the revolution has negatively impacted the economy," he said.

He said that he was joined in the complaint of ten Board members independent evidencing the corruption of the Council.

The dismissal of all members of the Council will give municipalities of Egypt under the control of non-elected local leaders and provincial officials, until new councils are elected.

A large demonstration is expected next week, among other things, show support for dissolving the local authorities. Activists say the advice, criticized as corrupt and flush with funds from the Government, could help the campaigns of former regime supporters in parliamentary elections, scheduled for September.

"This is, of course, an important decision. If we're having these parliamentary elections, municipal councils have been set to play an important role, "said Hafez Abu Saada, a human rights lawyer who monitored and criticised the elections of 2008 councils.

___

Associated Press writer Sarah El Deeb contributed to this report.


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At least 10 killed in attack on landmark hotel in Kabul (Reuters)

KABUL (Reuters)-at least 10 Afghan civilians were killed when suicide bombers and the heavily armed Taliban insurgents attacked a hotel frequented by Westerners in the Afghan capital late Tuesday, Afghan officials said.

Helicopters from the NATO-led force killed the last three insurgents in a final battle on the roof, said a spokesman for the coalition. Smoke rose from the roof of the hotel Intercontinental as the Sun rose above Kabul after a battle lasting several hours.

"At least 10 civilians, including hotel staff, were killed when suicide bombers attacked the Intercontinental", Mohammad Zahir, head of Kabul police crime unit, told Reuters.

Sediq Sediqqi, a spokesman for the Afghan Interior Ministry, said he had been killed at least six Afghans.

The attack was the night before the start of a Conference on the transition of civil responsibility and militarily by foreign forces of Afghans. The hotel was one of the sites to be used by the Conference or his delegates, said an official of the Afghan Government.

It was even a week after President Barack Obama announced plans for the withdrawal of 10,000 u.s. troops from Afghanistan by the end of this year, with another 23,000 to leave by the end of 2012.

Reuters has heard witnesses at least seven explosions during more than two hours, with volleys of gunfire heard during the attack until late at night the Intercontinental, one of the two main Hotels used by foreigners and Afghan Government officials in Kabul.

The NATO-led International Security Assistance Force (ISAF) said there had been gunfire from inside the hotel.

"Two helicopters ISAF. .. have engaged three individuals on the roof," coalition spokesman Major Tim James said. "The indications are that killed three people on the roof".

A Reuters witness said smoke could be seen rising from the hotel, although not fires were visible. Afghan security forces surrounded the hotel and firefighters arrived after the last of the insurgents were killed.

Sediqqi said six or seven rebels had been involved in the attack, one of the worst in the Afghan capital in months. "All were killed," he said.

Zahir also said three police officers had been wounded as they cleared the Western outskirts of the city.

Taliban spokesman Zabihullah Mujahid said that several fighters from the Islamic Group had attacked the hotel.

Mujahid, who spoke to Reuters by phone from an undisclosed location, said had been inflicted heavy casualties.

The Taliban often exaggerate the number of victims of the attacks against Afghan Government targets and Western.

FLARES, TRACER ROUNDS

A blast was heard at the beginning of the attack and then three more at least an hour later, a Reuters witness said. Bursts of gunfire were heard over the same period and eruptions lit up the sky above the hotel.

Reuters television footage showed police firing tracer rounds in the air as other officers moved through the hotel. Power was cut in the hotel and in surrounding areas after the attack.

The hotel, built on a hill in West Kabul with heavy fortifications all around it, is often used for conferences and by Westerners visiting the city.

Police threw up roadblocks immediately after the explosion, people from approaching the area.

Violence has flared in Afghanistan since the Taliban announced the beginning of a spring offensive in early may, although Kabul was relatively quiet.

The last major attack on a hotel used by foreigners in Kabul was in January 2008, when some Taliban gunmen killed six people in a commando-style raid on the nearby hotel Serena.

The increase in violence comes as NATO-led forces prepare to hand security responsibility to the Afghans in seven areas from next month at the beginning of a process of gradual transition that will end with all foreign troops, leaving Afghanistan by the end of 2014.

The two-day Conference to discuss the transition process was due to start in a building in the city centre, the Government Wednesday.

Violence in Afghanistan in 2010 was already at its worst levels since the Taliban were ousted by Us-backed Afghan forces in late 2001.

(Additional reporting by Omar Sobhani, Alistair Scrutton and Akram Walizada; Writing by Paul Tait; Editing by Sugita Katyal)


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Special Report: migrants unrest China exposes generation fracture (Reuters)

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ZENGCHENG, China (Reuters) – In a backstreet pool hall in southern China's factory belt, young migrant workers gather around the tables, their eyes flitting between the worn green baize and the anti-riot police patrolling the grimy alleys.

The police search cars at roadblocks just outside in Dadun, an urban village in the city of Zengcheng, where sweatshops make so many millions of blue jeans that the city promotes itself as the "jeans capital of the world".

"Are you a plainclothes policeman?", one spiky haired migrant sitting on a moped outside the pool hall jokingly asks a visitor.

Weeks after workers rioted in anger over the manhandling of a 20-year-old pregnant migrant hawking wares on the street, resentment simmers and authorities are taking few chances. For three days, the migrants trashed and torched government offices, police vehicles and cars -- local symbols of authority -- before security forces overwhelmed them.

For a nation that will absorb hundreds of millions of rural migrants into cities over the coming decades, the riots that Wang inspired left an acrid taste of what could go wrong if the government mismanages this huge shift.

The ruling Communist Party, which celebrates its 90th anniversary on Friday, fought to power on the back of restive peasants. Now young migrants from the villages are making greater demands to be heard and respected in the cities.

"They look down on the outsiders, so we let them know we won't be bullied anymore," said a lanky 19-year-old migrant worker in Dadun, one of the many factory towns and villages that as made the Pearl River Delta, "the workshop of the world" in Guangdong province next to Hong Kong.

"People have been waiting a long time for a chance to get them back, they (security guards) discriminate against us," he said as he watched his friends hammer away on a street fighter video game called Killer in a games parlor.

Interviews with dozens of migrants in Dadun and other nearby factory neighborhoods revealed raw resentment of harassment and shakedowns from public security teams and local security guards.

Such treatment has gone on for years, they say, even as their material conditions have improved, especially in the past two years as a tightening labor market lifted wages.

But like a ripple of strikes across Guangdong last year, the Dadun riot revealed a younger new generation of migrants still impatient with their lot in cities that can treat them as burdens or threats, not the residents they want to become.

"The police treat you differently if you're a migrant," said Fang Wuping, a migrant worker in Dongguan, the vast manufacturing zone next to Zengcheng.

"I can understand why they have to keep an eye out here" he added, describing a recent bout of detention by wary police.

"But when you're singled out as a criminal like that, you get angry and think, 'What gives you the right?'"

This generation does not share the self-sacrificing ethos of their farmer parents. They are jacked into the World Wide Web, they text like their cohorts elsewhere in the world, and their walks through the streets of Chinese cities are a direct education in the gaps in income and privilege that irk them.

Nowadays when migrant workers finish work at factories across southern China's manufacturing belt, they slip into bleached jeans, bright T-shirts, and sequin-covered blouses that are a gaudy renunciation of rural dullness.

They disdain the plain blue jackets and canvas shoes their farmer-migrant parents usually wore and sport tattoos and dyed hair, proclaiming that this generation yearns for a future far from the villages where they were born.

"Our mentality is different from our parents'. We don't save money like they did," said Li Bin, a 20-year-old worker in Dongguan, who sported a mullet haircut and an earring.

"We spend it as we make it, spend it on ourselves -- restaurants, the Internet, karaoke. But in their time, people were simpler. They were saving money so they could come home."

"I'd never go back to farming," cut in Li's friend, Fang Wuping. "If you threatened to kill me, I wouldn't. If you're a farmer, people despise you, look down on you," he said.

China has 153 million rural migrants working outside their hometowns. By 2009, 58.4 percent of rural migrants were born in 1980 or after, and ninety percent of this "new generation" have barely ever farmed, a National Bureau of Statistics survey found.

VOLCANIC ERUPTIONS

Wang Lianmei, the pregnant woman who guards pushed to the ground trying to move her goods off the street, will almost certainly not become China's version of the vegetable seller in Tunisia whose mistreatment by a policewoman sparked protests that touched off the "Arab spring".

The Communist Party is armed with fast economic growth, a powerful security apparatus and an aura of public authority to shield it from such risks. Significantly, the unrest did not spread to other nearby towns crammed with migrant workers.

But like a ripple of strikes across Guangdong province last year, the Dadun riot revealed a strong undercurrent of discontent, said Huang Yan researcher at South China Normal University in Guangzhou, capital of Guangdong, who studies unrest among migrants in the Pearl River delta.

"This is like a volcano that is dormant for a long time until it finds a point to erupt from. I'm not saying that this is a volcano that will erupt across the entire country, but in areas where migrant workers are concentrated, there are accumulated tensions," Huang said.

The Party is the primary symbol of authority in a country whose people have scant legal or political channels to press grievances, especially against officials, police or bosses.

China's official trade union noted in a report last year that migrants are getting more assertive -- and more organized.

"The rights mentality of the new generation of rural migrant workers is already clearly different from the traditional rural migrants," it said.

"There are signs that their mode of defending their rights is shifting from individual to collective action," the report said, noting a survey that found over half of migrant workers born after 1980 said they would be willing to join in "collective action" to defend their personal interests.

China has become greatly concerned with collective action since February, cracking down on dissent in response to fears that the "Arab spring" could inspire challenges to its one-party rule, especially before the leadership succession late in 2012.

LOOKING FOR CHAIRMAN MAO

Not every migrant worker has heard of the pregnant hawker and the riot. But the incident resonated with those interviewed for this story.

Zheng Chao, 20, one of the young migrant workers milling about the recruitment stalls in a factory towns near Shenzhen, said he had heard of trouble in Zengcheng but not the details.

"It's normal here for people to take a beating inside the factory and outside," said Zheng, a shirtless 20-year-old from Hunan province.

"What we need is our own Chairman Mao. He was a migrant worker too," he joked. Mao Zedong, who was from rural Hunan, worked briefly as a library assistant in Beijing before embracing a career as a communist revolutionary.

Few people in China want to revisit the chaos of Mao's rule, although nostalgia about the Great Helmsman himself has grown recently. The frustrations of life on the fringe of urban prosperity is the kind of discontent Mao was able to channel in another era.

Four out of five of the roughly 50,000 people who live in Dadun are migrants. Wang Limin, an older migrant from Sichuan who runs his own jeans workshop, said it was the unrelenting discrimination and petty corruption with little legal recourse or help from police that was most dispiriting.

"For the entire day, they mess around with your money. If you go to apply for a residency permit, they say it's free at first, but then they ask for more and more money. They don't give you a free meal for nothing," Wang said at his workshop in Dadun.

"We just want to come here to work, but they manipulate us to death. If the security guards weren't here, things would be good," he added. "They mess with the migrants all the time."

Restive migrants are far from the only source of discontent in China.

The country saw almost 90,0000 "mass incidents" of riots, protests, mass petitions and other acts of unrest in 2009, according to a 2011 study by two scholars from Nankai University in north China. Some estimates go even higher.

By contrast, in 2007, China had over 80,000 mass incidents, up from over 60,000 in 2006, according to an earlier report from the Chinese Academy of Social Sciences.

Many of these outbursts sprang from farmers protesting land seizures, laid-off workers demanding better benefits, and decommissioned soldiers and rural teachers dismissed from jobs.

But the protests by migrant workers pose a tricky challenge for a government steering China toward bigger cities and fewer farmers.

China's urban population is projected to expand up to 400 million by 2040, Han Jun, a policy expert who advises the government said last year. That means cities will absorb 15 million new residents every year, many of them rural migrants.

They will need jobs, housing, hospitals and schools for their children. More will also hunger for the sense of dignity and belonging that the Dadun riot showed was missing for many.

"They don't want to live in the countryside or to farm. They imagine their future lives are in the cities, so their sense of relative poverty and deprivation is also stronger," said Cai He, a sociologist at Zhongshan University in Guangzhou, capital of Guangdong, who studies rural migrant workers.

"In recent years, rural migrants' wages have risen quickly, but after all this is a floating group," said Cai.

"It lacks roots ... in the cities, and lacks a sense of security, and it's also difficult for them to feel secure about their futures."

FALLING LEAF RETURNS TO ROOTS

At the prodding of the central government, local governments are trying to make it easier for migrants to send their children to state-funded schools, and get other social-welfare benefits.

The "City Garden" apartment complex in Dongguan, a factory-filled city next to Zengcheng, embodies the kind of life poor migrants yearn for. Its residents are skilled workers, such as Song Xiaoyong, a 34-year-old quality control technician.

"He'll be able to go to school here, but that's impossible for poorer families," Song said of his two-year-old son, who was cared for by his parents from the central province of Hubei.

Zhang Qin, a poor young migrant worker in Dadun from the poor, southwest province of Guizhou, said her two daughters were unlikely to get into any local school and she would probably send them back to her home village for schooling, a choice many migrant workers have to make.

"There's no money to be made back home. You have to work even harder," Zhang said as she worked with a pair of seamstress scissors trimming garments.

"Urbanizing" rural migrants so they can get schooling and welfare roughly equal to that of established city residents would cost the government about 80,000 yuan ($12,340) for each migrant, the recent government think tank study of rural migration said.

That does not even include housing, which is what worries Niu Xiaoling, a skinny 27-year-old from rural Sichuan in southwest China.

"To get a girl, you need a house and to have a career, but nowadays it's so expensive to pay for a home," Niu said. "Even in my village, a house would cost at least 100,000 yuan."

He and other frustrated migrant workers talk about moving to another part of China, where they might get better pay and the cost of living might be lower. But nobody wants to go back to home villages where off-farm work is scarce.

An old Chinese proverb says a falling leaf always returns to its roots. Wang Jiaoguang, a 48-year-old former farmer from Hunan province who works in south China's factory belt, says he's not so sure that applies to the younger generation.

"It's not good to know you have no roots anymore."

(Editing by Bill Tarrant)


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Greek deputies to vote for the Bill key austerity (AP)

Athens – Greek deputies are to vote on a Bill to key austerity that will determine whether the country international lenders release money from his rescue plan that will prevent a potentially disastrous default is in the coming weeks.

The vote on the Bill euro28 billion of spending cuts and intermediate hiking tax is set for Wednesday afternoon. The Bill has provoked widespread outrage, and protesters have vowed to block of the Parliament to prevent lawmakers from entering. Thousands of police deployed in downtown Athens which saw riots Tuesday that 46 people, mostly police.

Even some members of the governing Socialist Party have challenged the Bill, and two have indicated they might vote against it. But Prime Minister George Papandreou holds a majority of five seats and the Bill would pass.


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Myanmar Government warns Suu Kyi could cause unrest planned tour (Reuters)

YANGON (Reuters)-a possible tour of Myanmar's pro-democracy leader Aung San Suu Kyi could cause unrest, State media warned Wednesday, implying that she would be responsible for their own safety.

Nobel Peace Laureate Suu Kyi is planning his first trip outside the former capital Yangon since she was freed from detention at home last year only after elections to end army rule.

The military still controls the Government.

"His followers and supporters are gushing that the icon has to keep in touch with the public. Seem willing to take advantage of the public. They also spread that the Government is responsible for the safety of Daw Aung San Suu Kyi, his trip, "said a commentary in all three official newspapers.

"We are deeply concerned that if Daw Aung San Suu Kyi makes travel in the country, there may be chaos and disorder, as evidenced by previous incidents," he added.

"Daw" is an honorific in Myanmar for women.

In 2003, in one episode, now known as the Depayin massacre, Suu Kyi's motorcade was attacked by thugs pro-junta and 70 of its supporters died in what was seen as an assassination attempt.

"The Government said that Daw Aung San Suu Kyi is just an ordinary member, so that the public will not limit you to travel and do things in accordance with the law, but she must honor the laws for the rule of law," read the comment.

Suu Kyi, 66, has announced the dates for the tour, or a route.

His party, the National League for democracy (NLD), was officially disbanded last year when he refused to register the elections held in November. Suu Kyi was released from six years of house arrest, a week after the vote.

Official Media, which act as a mouthpiece for the Government, also said on Wednesday that the Government had warned the NLD "will not harm peace and stability" and to enforce the law.

"If" they want to really accept and democracy in practice effectively, they are to stop such acts that may damage peace and stability and the rule of law, as well as the unity between people, including monks and service personnel, said the letter, according to state media.

NLD spokesman Nyan Win confirmed that he had received a letter. "We have received your letter of yesterday but still we have not talked about and decided what to do about it," he said.

The letter accused the party to keep its headquarters and various offices open and organizing meetings even through it was dissolved, the newspapers said.

"Such acts are not only against the law, but also amounts to oppose Hluttaws (the legislature)," they said.

(Reporting by Aung Hla Tun; Editing by Alan Raybould and Daniel Magnowski)


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China rolls out the red carpet for the President of Sudan (AP)

Beijing-China rolled out the red carpet Wednesday for a State visit of President of Sudan, who is wanted on an international warrant that accuses him of war crimes.

President Omar al-Bashir was visiting China, a major trading partner and investor in your country, just days before Southern Sudan became independent and with the international criminal court warrant hanging over his head.

Al-Bashir was greeted by President Hu Jintao at the great Hall of the people and given a guard of honour reception.

Hu said he was very happy to see al-Bashir in Beijing.

"I believe that this visit will certainly have great significance for the consolidation and development of traditionally friendly relations between China and the Sudan", said Hu. "I am willing to have in-depth exchanges with you on shared issues and our developing relations".

Al-Bashir thanked his guests for his "warm welcome and treatment".

Their talks would focus on the challenges in the African nation before the independence of southern Sudan, 9 July.

Violence has spent in areas disputed between North and South, soon-to-be-independent, and China has said it wants both sides to resolve disputes peacefully.

Declaration of the South Sudan Independence next month will be the culmination of a peace agreement in 2005 which ended more than two decades of civil war that has killed more than 2 million people.

The violence also brought charges of war crimes against al-Bashir, the first against a head of State until similar charges this week against Libyan leader Moammar Gadhafi, who is accused of crimes against humanity for the murder of civilians who rose up against his Government.

China is not a member of the Court, based in the Hague, Netherlands and said that the charges accusing al-Bashir of orchestrating atrocities in Sudan's Darfur could cause further instability in the region.

China has important oil investments in Sudan and has long had close ties with the leaders of the North. It has support in wooing South oil producers.

Numerous agreements should be signed while al-Bashir is in Beijing. China National Petroleum Corp., which has signed a development agreement of 20 years, multibillion-dollar with the Sudan in June 2007, he signed an agreement Tuesday with the Government of the Sudan in order to enhance cooperation. A statement from the company did not give details.

Al-Bashir's arrival in China has been delayed by a day after the confusion is not yet fully explained above a flight plan.

Sudan's Foreign Ministry said in a statement that led to the Sudan News Agency that al-Bashir official had been commissioned to change their route while flying over Turkmenistan but was unable to do so and instead returned to Tehran.


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