Here is the Wednesday, June 11th, 2008 edition of interesting reads from around the world.
US Senate Rejects Windfall Taxes on Oil Companies
Republicans in the US Senate on Tuesday blocked a proposal to tax the windfall profits of the nation’s biggest oil companies and eliminate some of the firms’ tax breaks, rejecting Democratic claims that the measure would help assuage consumer anger over $4-a-gallon gasoline. Silly move since, oil companies are now cash cows reaping rewards for their previous investments and making few investments in alternative energy development. More on this story from the Houston Chronicle.
South Korean Protests Simply Stunning
I have been covering the protests in South Korea now for a week in this section but even I am stunned about how steadfast the protesters are and how quickly they have grown in size. President Lee Myung-bak’s government has been caught off-guard. And all this over imports of US beef. South Korea’s president said Wednesday that his government will make a fresh start, hours after an estimated 80,000 people gathered in the South Korean capital in the largest demonstration yet against the planned resumption of U.S. beef imports. But President Lee Myung-bak warned that dismissing his entire Cabinet might cause “a vacuum in state affairs” amid rising oil prices and other economic difficulties. “I thought about a lot of things while watching protests last night,” Lee told leaders of small companies Wednesday morning, according to South Korean media pool reports. “The government intends to make a start with a new determination.” Reports from New York Times and the Korea Herald. And a profile on South Korean President Lee Myung-bak in Time Magazine.
Bangladesh Adrift as Political Tensions Rise
After nearly two years of caretaker government in Bangladesh, the politics of the country seem to be heating up as all the political parties, including the two major ones, grow increasingly frustrated with the pace of progress toward elections. Although the army-backed government headed by Fakharuddin Ahmed, a former World Bank economist, has announced elections for the third week of December, sudden mass arrests of an estimated 12,000 people since May 28 have added to the concern prevailing in Dhaka’s political circles. Some are beginning to doubt whether elections will be held at all. The story in the Asian Sentinel.
2007 A Deadly Year for Journalists in Nepal
The year 2007 for the South Asia Media workers and journalists in Nepal turned out to be the ‘bloodiest and most difficult year’, said a South Asia Media Monitor-2007 report. A total of 25 South Asia media associate journalists and media workers were killed in different parts of the country and for different reasons, said the report launched today at the South Asia Free Media Association Nepal (SAFMA-Nepal). The full details from The Rising Nepal.
China’s Trade Surplus Shrinks
China’s trade surplus stood at 20.2 billion dollars in May, down 9.9% from a year earlier, according to customs figures made public on Wednesday. Chinese exports in May rose 28.1% from the same month a year ago to 120.5 billion dollars, while imports increased 40% to 100.3 billion dollars, customs figures showed. The Chinese government said last week the nation’s trade surplus is likely to shrink in 2008 for the first time in five years on weakening exports mainly due to the rising local currency and the US economic slowdown. In terms of crude oil, China imported 75.97 mln tons of crude oil in the first five months, up 12.7% year-on-year, the General Administration of Customs said. Imports of oil products in the first five months rose 17.3% year-on-year to 17.34 mln tons.
Fact Sheet for Sudan Airways
Silobreaker has all you want to know about Sudan Airways. If you fly in Africa as I do, there are two airlines that stand out in terms of meeting Western standards, Ethiopian Airlines and South African Airways. Many of the rest are flying coffins. Nigerian and Zairean airlines are the worst.
Chávez’s Ex-Wife To Run for Mayor of Barquisimeto On Anti-Chávez Platform
Marisabel Rodríguez, the former first lady, plans to run for mayor of Barquisimeto, the capital of Lara state, in November. “I want to change the face and way of doing politics in this city and this country,” said the former PR executive on Sunday, confirming her candidacy for the Podemos party. Chávez has suffered a series of reversals despite a surge of petrodollars into state coffers – inflation, sporadic food shortages and a revived opposition threaten to topple pro-government candidates. More from the UK Guardian.
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