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News Update!
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krisluke
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28-Mar-2011 00:15
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I'm BEARISH on singapore coming General Election. The PAP is just an old party name. Think that inflation was not properly addressed at all time. Remember, in the ah kong days, cpf was 20%-20% payout. Transport fare, medical bills, and housing price just stubbornly keep getting higher and higher. Foreget about the rebate package  PM is giving out. In the end, singaporean just continue to Pay and Pay more for everythings. Recall one thinky, GST increases... Btw, is this(gst) neccessary in singapore context? ![]() |
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krisluke
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28-Mar-2011 00:04
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syria protest would mark the final crisis in mid east. Japan nuclear energy crisis should also be contained by now. So, the only fear left in equity market would be raised in interest rates to strengthen currency value. inflation, winter over liao, food suppose to be sufficient than letting it rot. ![]() |
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krisluke
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27-Mar-2011 23:56
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Gold, Silver and Crude Oil Report, GLD, SLV, USOSPDR Gold Trust (ETF), NYSE:GLD, iShares Silver Trust (ETF), NYSE:SLV, United States Oil Fund LP (ETF) The Overall Fundamentals Commodities rebounded last week as the nuclear crisis in Japan eased. The fighting in Libya continues, and I believe that the market has priced in a period of political and economic disruption in the MENA region with significant amount of oil and energy capacity suspended for some time to come. In my talks with players they are focusing on macro-economic events. Data released last week in the USA were mixed, though we saw a drop in home sales, the market liked that the Country’s job market has been improving, durable goods orders disappointed a bit, and falls in both existing home sales and new home sales data indicated consumer spending remains dampened. In the EuroZone, concerns about sovereign and debt problems in the European periphery re-emerged. Portugal’s PM resigned after the Parliament rejected his fiscal-consolidation plan, raising bets of Portugal’s request for a rescue from the EFSF. Concerns about the stability of the banking and financial systems in the EU peripheral countries heightened by rating agencies’ downgrades. Fitch Ratings and S& P downgraded Portugal’s credit ratings to A- from A+ and BBB from A- respectively while Moody’s cut senior debt and deposit ratings of 30 smaller banks in Spain as the agency doubted government’s support to the lenders. The EU Summit held on March 24-25 note what most expected, i.e. the capital structure and interest rates for the new ESM have been confirmed. The ESM will have a total subscribed capital of EUR700B, of which EUR80B will be in the form of paid-up capital provided by Eurozone member states being phased in from July 2013 in 5 equal annual installments. Details on the new EFSF will not be finalized until June. No new updates were provided regarding financial assistance for Ireland or Portugal. As we know from our experience, Gold benefits as sovereign crisis in the Eurozone heightens, and we here at Live Trading News believe part of the Gold-buying last week reflected those concerns. But, strength in the precious Yellow metal was, for the most part, driven by geo-political tensions in the MENA region and uncertainty about the impacts on Japan from the recent disasters. Despite the rise to a new record price mark, Gold reversed some, and finished the week +0.72% higher. Profit-taking is the big reason for the price action, but the “Hawkish” comments from ECB members offset some upward pressures on Gold. The ECB may move to increase interest rates in April. If its tightening measures are aggressive enough to generate a move in short-term real rates, Gold may see some negativity on the move. Gold and Silver The precious metals complex rally was broad based but Gold apparently under performed Silver and PGMs although it hit a new all-time high of 1448.6 oz Thursday. After ending Y 2010 on a Strong note, Gold’s price has under performed from the beginning of this year as improvement in risk appetite drove investors to stock markets. The precious Yellow metal gathered up momentum again in late January and has remained Strong since then. Though geo-political tensions in the MENA region have bolstered Gold recently, expectations that inflation in the USA is bottoming have been supporting the metal’s price action The US Fed IMO, thought it is pledged to pay close attention to the evolution of inflation and inflation expectations, has no intention to alter its accommodative monetary stance because it believes that the recent upward pressures from commodities is transitory. Negative real interest rates encourage Gold purchases as players look to diversify their cash holdings. Negative real rates are not only seen in the USD but also the GBP, and EUR. With the ECB talking about starting to increase interest rates, Gold may be forced down. But, we believe that the impact may not as big as some fear if the Euro is boosted by widening in USD-EUR yield differentials. Silver was the best performer in the complex with the benchmark contract jumping to a fresh 31 yr high at 38.18 oz Thursday, before settling at 37.05, +5.70%. Silver’s price outlook is volatile because the fundamentals are somewhat weak. PGMs rebounded after falling during the past 2 weeks. The outlook there is based largely on the auto sector and its response to Japan’s recovery. Industry experts that I have read now estimate Global automakers may lose production of about 600K vehicles by the end of this month, as it is believed that it make take several months before inventories and other parts of the industry are back to normal in Japan. Crude Oil Crude Oil rallied last week with WTI Crude Oil prices for delivery in May gaining +3.49%, and equivalent Brent Crude prices marked a +1.46% on the week. Consolidation of Brent Crude prices helped narrow the WTI-Brent spread. WTI Crude Oil rallied with prices approaching its 28 month high of 106.95 Thursday. The strength was driven by Strong Oil demand in China and the USA. I believe that now the relations are strained between the USA and its most important Arab ally, Saudi Arabia, and that also worked to boost Crude Oil prices. It was reported that in a telephone conversation with Saudi’s King Abdullah, US President Barack Obama asked for ‘political process as the only way to peacefully address the legitimate grievances of Bahrainis and to lead to a Bahrain that is stable, just, more unified and responsive to its people’. Previously Saudi ignored the USA’s request and sent troops into Bahrain and the King remained angry with USA’s abandonment of President Hosni Mubarak during the Egyptian protests. Saudi Arabia is a major Crude Oil supplier to the USA, and according to the DOE/EIA, the Kingdom exported an average of 1M bpd of petroleum liquids to the US, accounting for 9% of total US petroleum imports, in Y 2009. During that period, Saudi Arabia ranked 4th after Canada, Mexico, and Venezuela as a petroleum exporter to the USA. If US-Saudi relations deteriorates more, it is possible that the Kingdom’s motivation to calm markets by raising production will be curtailed. |
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krisluke
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27-Mar-2011 23:55
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London ProtestsLondon sees huge turnout for anti cuts march Hundreds of thousands of people marched on Central London Saturday to protest the UK’s government cuts to public services. Teachers, NHS staff, council workers, students and other community groups gathered in the capital for the “March for the Alternative: Jobs, Growth, Justice”, organized by the Trades Union Congress (TUC). The March was the largest protest in the capital since the anti-Iraq war rally of Y 2003, and the biggest public backlash against the coalition government’s spending cuts since it came to power in May of last year. The TUC estimated that about 400,000 people participated in the March, which was for the most part peaceful. The Metro Police declined to give specific numbers for the Marchers. But scores of Anarchists ran wild in the West End, away from the Official March and then on to Piccadilly Circus. About 36 injuries were reported and more than 100 people, many from the group UK UNcut, were arrested. Just a few hours earlier the scene had been more like a Carnival as the protesters passed, blowing horns and rattling hand shaped clackers, or carrying the colorful banners of Unions such as Unite and Unison. Among the protesters were families with young children in prams Some people were dressed in the uniforms of their professions, but most were in the modern marching outfit of comfortable shoes, jeans and fleece. There were a few exceptions: a group of 6 women wearing David Cameron masks and clad in stockings and suspender belts carried a Banker in a pin-striped suit on a sedan chair. The march ended with a TUC rally at Hyde Park, where speakers included Ed Miliband, leader of the Labor Party, who invoked the suffragettes, the US civil rights movement and anti-apartheid campaigners in South Africa. Brendan Barber, TUC General Secretary, said a “clear message” had to be sent to the government. “The government cannot destroy vital services, peoples jobs and their lives,” he said. “This is not a coalition government but a demolition government.” The mostly peaceful nature of the official march is in contrast to several protests that resulted in clashes between authorities and students last year. A rally on November 10, protesting the forthcoming rise in University tuition fees, resulted in angry students setting fires, smashing windows, fighting riot police and forcing their way onto the Conservative Party headquarters roof in Westminster. Earlier on Saturday Michael Gove, education secretary, told the BBC’s Radio Four that Mr. Miliband was “facing 2 really big dangers”. “One is that people will say ‘You are calling for a plan B from the government, you do not even have a plan A. More than that, you are associating yourself with a march which could, I’m afraid, move from being a family event into being something darker’.” Mr. Gove said that the March and Rally would not sway the government from its cuts program. “I sympathize with those in Education and NHS who have “to make do… with fewer resources than they would like.” |
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krisluke
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27-Mar-2011 23:52
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Syria's Assad deploys army in port to keep order
AMMAN (Reuters) - President Bashar al-Assad, facing the gravest crisis in his 11-year rule, deployed the army for the first time in nearly two weeks of protests after 12 people were killed in the northwest port of Latakia.
  Assad, 45, who has been silent since protests started sweeping Syria, is expected to address the nation shortly, officials said, without giving further details.   Dozens have died in pro-democracy protests in the southern city of Deraa and nearby Sanamein, Latakia, Damascus and other towns over the last week. The government blames armed groups for setting off the bloodshed.   Soldiers took to the streets of Latakia on Saturday night to help secret police and security forces control the port, residents said. The army also beefed up checkpoints around Deraa, where Human Rights Watch says 61 people have died.   " There is a feeling in Latakia that the presence of disciplined troops is necessary to keep order," one resident told Reuters. " We do not want looting."   Secretary of State Hillary Clinton said on Sunday the United States deplored the bloodshed in Syria but a Libya-style intervention should not be expected.   The unrest in Syria came to a head after police detained more than a dozen schoolchildren for scrawling graffiti inspired by pro-democracy protests across the Arab world. People marched, chanting: " The people want the downfall of the regime."   Such demonstrations would have been unthinkable a couple of months ago in this most tightly controlled of Arab countries.   Assad, a British-educated eye doctor, made a public pledge on Thursday to look into granting greater freedom but this has failed to dampen protests, emboldened by uprisings in Egypt and Tunisia.   Assad adviser Bouthaina Shaaban told Al Jazeera news network the emergency law hated by Syrian reformists for the far-reaching powers it gives to security services will be lifted, but did not give a timetable.   BID TO DEFUSE PROTESTS   In another move to placate protesters, Syrian authorities on Sunday released a lawyer, Diana Jawabra, along with 15 others who were arrested for taking part in a silent protest demanding the release of the children responsible for the graffiti.   This follows news of the freeing of 260 political prisoners.   Assad also faces calls to curb a pervasive security apparatus, develop rule of law and freedom of expression, free political prisoners and reveal the fate of tens of thousands of dissidents who disappeared in the 1980s.   Syria's establishment is dominated by members of the minority Alawite sect, an offshoot of Shi'ite Islam to which the Assads belong, a fact that causes resentment among Sunni Muslims who make up some three-quarters of the population. Latakia is mostly Sunni Muslim but has significant numbers of Alawites.   " An official source said attacks by armed elements on the families and districts of Latakia in the last two days resulted in the martyrdom of 10 security forces and civilians and the killing of two of the armed elements," SANA news agency said.   The source said 200 people, most of whom were from the security forces, were wounded in clashes. Rights activists told Reuters at least six people were killed in Latakia in two days.   " Decades of pent up feelings are generating these confrontations. But this is not a mass Sunni-Alawite strife," the Latakia resident told Reuters by telephone. " Cooler heads are prevailing in Latakia."   Nadim Houry, at New York-based Human Rights Watch, said four police were killed while trying to separate pro- and anti-government groups, but " were apparently killed by armed thugs close to the brother of the president."   " A Latakia resident told me that the police were killed because they tried to separate them. I can't tell if it is true and we have not confirmed it," Houry said.   " So far the army has sided clearly with the authorities, like in Latakia, where the army has deployed," he added, raising concern that the " killing of civilians will continue unless real reforms are enacted and security forces cease using live fire."   STATE OF EMERGENCY   Deraa is a bastion of Sunni Muslim tribes who resent power and wealth amassed by the Alawite minority. During protests, a statue of late President Hafez al-Assad, the current president's father who ruled Syria with an iron fist for 30 years until his death in 2000, was toppled.   Asked about security forces opening fire, government spokeswoman Reem Haddad told Al Jazeera on Sunday:   " The security forces were given very strict orders not to shoot at anyone and they did not shoot at anyone at all until those people shot at them and at other citizens.   " Now obviously when you have people shooting then it becomes a matter of national security and you can't just have that happening," she said.   On whether Assad might make an address to the Syrian nation, Haddad said: " I think it's very possible that the president will be addressing the Syrian people very soon."   The United States, France and Britain have urged Assad to refrain from violence. A week ago they launched a U.N.-backed air campaign to protect opponents of Libya's Muammar Gaddafi.   WEB OF CONFLICTS   But analysts see little chance that heavily armed Syria, which is part of an anti-Western, anti-Israel alliance with Iran and sits within a web of conflicts across the region, may face the sort of foreign intervention seen in North Africa.   Syria has a close alliance with Iran and links to the Palestinian Islamist militant group Hamas and the Lebanese Shi'ite political and military group Hezbollah. Its allies in the region have yet to comment on the unrest.   Assad was welcomed as the fresh face of reform when he replaced his father, a master of Middle Eastern politics, who brooked no dissent at home and made refusal to bend on the Arab-Israeli conflict the heart of Syrian policy for 30 years.   But Western diplomats say resistance from the " old guard" has slowed the political and economic liberalisation promised by Assad, an articulate and mild-mannered leader, while foreign policy confrontations upset efforts to improve the Arab state's ties with the West.   Among the targets of popular anger have been Maher al-Assad, a brother of the president and head of the Republican Guard, a special security force, and Rami Makhlouf, a cousin who runs big businesses and is accused by Washington of corruption.   (Reporting by Yara Bayoumy and Khaled Yacoub Oweis, Writing by Peter Millership, Editing by Sonya Hepinstall) |
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krisluke
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27-Mar-2011 23:49
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Rebels push west as air strikes hit Gaddafi forces
A rebel walks inside an oil terminal compound after it was retaken by rebels in Zueitina
  BIN JAWAD, Libya (Reuters) - Libyan rebels pushed further west on Sunday to retake more territory abandoned by Muammar Gaddafi's retreating forces, which have been weakened by Western air strikes.   Emboldened by the capture of the strategic town of Ajdabiyah with the help of foreign warplanes on Saturday, the rebels have regained the initiative and are back in control of all the main oil terminals in the eastern half of the North African country.   " There are no Gaddafi soldiers here. We control all the town," rebel fighter Youssef Ahmed, 22, said in the town of Bin Jawad, 525 km (330 miles) east of the capital Tripoli.   A Reuters correspondent in Bin Jawad saw more than two dozen rebel pick-up trucks mounted with machine guns in the town centre, as fighters were shooting in the air in celebration.   Bin Jawad is the westernmost point the rebels reached in early March, before they were pushed back by Gaddafi's better-equipped forces to their stronghold of Benghazi.   Rebels said Gaddafi loyalists had retreated westwards and that they planned to push on towards Sirte, the Libyan leader's heavily defended home area on the Mediterranean coast.   " We want to go to Sirte today. I don't know if it will happen," said 25-year-old Marjai Agouri as he waited with another 100 rebels along the main coastal road outside Bin Jawad with three multiple rocket launchers, six anti-aircraft guns and around a dozen pickup trucks mounted with machine guns.   The rebel advance is a rapid reversal of three weeks of losses and indicates Western air strikes under by a U.N. no-fly zone are shifting the battlefield dynamics in their favour.   Their gains put the rebels back in control of all the main oil terminals in the eastern half of Libya -- Es Sider, Ras Lanuf, Brega, Zueitina and Tobruk.   In Ras Lanuf, battle debris was scattered around the eastern gate, which had been hit by an air strike.   At least three trucks of Gaddafi's forces were smouldering. Ammunition, plastic bags of rations left behind and a tin bowl with a half eaten meal on the ground suggested Gaddafi's forces had beaten a hasty retreat.   Mansour al-Breik, a 20-year-old shopkeeper now turned fighter, said: " The air strikes were from midnight to 3 a.m."   REBELS TAKE PRISONERS   On the way into Ras Lanuf a Reuters correspondent saw a bus loaded with Gaddafi soldiers who had been taken prisoner, escorted by a machinegun-mounted pickup.   As foreign media passed, rebels chanted: " Sarkozy, Sarkozy, Sarkozy" in reference to the French president and air strikes by coalition states including France aimed at protecting civilians.   As the front line shifted towards the heartland of Gaddafi's support, government forces pounded Misrata in the west with tank, mortar and artillery fire on Saturday, and resumed shelling on Sunday after a pause that followed an air strike.   " Misrata is under attack, the city and the port area where thousands of workers are. We don't know whether it's artillery or mortars," the resident, called Saadoun, told Reuters by telephone from the city on Sunday.   A Misrata resident told Reuters by phone the humanitarian situation in the city was very bad, but that rebels had said they would fight until the city was freed from Gaddafi.   " Misrata has been under siege for 38 days," another resident, Sami, said by telephone. " Not much food, water is a rarity and people are obliged to use wells to get water. We have problems with medicines."   A rebel in Misrata told Reuters Gaddafi was putting all his weight into attacking Misrata so he could control the whole of the west of the country after losing all the east.   Libyan government spokesman Mussa Ibrahim told reporters in the capital Tripoli that Gaddafi was directing his forces but appeared to suggest the leader might be moving around the country so as to keep his whereabouts a mystery.   " He is leading the battle. He is leading the nation forward from anywhere in the country," said Ibrahim.   " He has many offices, many places around Libya. I assure you he is leading the nation at this very moment and he is in continuous communication with everyone around the country."   Asked if Gaddafi was constantly on the move, Ibrahim said: " It's a time of war. In a time of war you act differently."   Capturing Ajdabiyah was a big morale boost for rebels a week after air strikes began to enforce a U.N.-mandated no-fly zone.   " This is a victory from God," said Ali Mohamed, a 53-year-old teacher in the rebel stronghold of Benghazi.   " Insha'allah (God willing), we will be victorious. After two days, we will be in Tripoli," he said.   Fouzi Dihoum, a catering company employee, said the rebels could push forward because the area between Ajdabiyah and Sirte was desert where Gaddafi forces were easy targets for planes.   " There is nowhere to hide. It's an open area."   Libyan state television was on Sunday broadcasting pop songs and images of palm trees, wheatfields and vast construction projects completed in Gaddafi's four decades in power.   Gaddafi himself has not been shown on television since he made a speech on Wednesday and his sons Saif al-Islam and Khamis -- who earlier in the conflict spoke regularly to foreign media -- have been out of sight even longer.   Internet social networks and some Arabic-language media have reported that Khamis, commander of the elite 32nd brigade, was killed by a disaffected air force pilot who, according to the reports, flew his plane into the Gaddafi compound in Tripoli.   There has been no confirmation and Libyan officials say such reports are part of a deliberate campaign of misinformation.   Last week Libyan officials said nearly 100 civilians had been killed in coalition strikes, but U.S. Defence Secretary Robert Gates dismissed the assertion.   NATO ambassadors were to meet on Sunday to discuss plans for broadening the alliance mandate to take full command of military operations, including attacks on ground targets.   (Additional reporting by Alexander Dziadosz, Edmund Blair, Maria Golovnina, Michael Georgy, Ibon Villelabeitia, Tom Pfeiffer, Lamine Chikhi, Mariam Karouny and Patricia Zengerle Writing by Ibon Villelabeitia and Tom Pfeiffer Editing by Mark Heinrich) |
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krisluke
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27-Mar-2011 23:44
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Japan says very high radiation reading at reactor was wrong
![]() Satellite file image shows the damaged Fukushima Daiichi Power Plant
  Tokyo Electric Power Co. (TEPCO) vice-president Sakae Muto apologised for Sunday's error, which added to alarm inside and outside Japan over the impact of contamination from the complex which was hit by an earthquake and tsunami on March 11.   (Reporting by Yoko Kubota) |
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krisluke
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27-Mar-2011 23:39
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Treasury Stock ![]() Treasury stock is stock that an issuing company repurchases from its shareholders.The company may choose to repurchase if it has cash available, as an alternative to investing it in expanding the business. Or it may issue bonds to raise the money it needs to repurchase, which changes the company's debt-to-equity ratio.In most cases, the company offers to pay a premium, or more than the market price, to build its cache of Treasury stock. Reducing the number of outstanding shares boosts the per-share value of the remaining shares and tends to increase the market price of the stock. That results, in part, because no dividends are paid on Treasury stock and it's not included in earnings-per-share calculations, boosting that ratio.A company may buy back its stock for a number of other reasons, ranging from preventing a hostile takeover to having shares available if employees exercise their stock options.It may also choose to resell the shares or use them to meet the demand for shares from holders of convertible securities. |
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krisluke
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27-Mar-2011 23:28
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Hedge Fund Manager The individual who oversees and makes decisions about the investments in a hedge fund. Managing a hedge fund can be an attractive career option because of its potential to be extremely lucrative. To be successful, a hedge fund manager must consider how to have a competitive advantage, a clearly defined investment strategy, adequate capitalization, a marketing and sales plan and a risk management strategy. Individuals wishing to invest in hedge funds must meet income and net worth requirements. Hedge funds can be considered high risk because they pursue aggressive investment strategies and are less regulated than many other types of investments. The hedge fund manager is responsible for the investment decisions and the operations of the fund.   Bonds  Fixed Income  |
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krisluke
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27-Mar-2011 22:55
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Fukushima Nuclear Accident Update LogUpdates of 27 March 2011IAEA Briefing on Fukushima Nuclear Accident (27 March 2011, 13:30 UTC)1. Current Situation The situation at the Fukushima Daiichi plant remains very serious. The restoration of off-site power continues and lighting is now available in the central control rooms of Units 1, 2 and 3. Also, fresh water is now being injected into the Reactor Pressure Vessels (RPVs) of all three Units. Radiation measurements in the containment vessels and suppression chambers of Units 1, 2 and 3 continued to decrease. White “smoke” continued to be emitted from Units 1 to 4. Pressure in the RPV showed a slight increase at Unit 1 and was stable at Units 2 and 3, possibly indicating that there has been no major breach in the pressure vessels. At Unit 1, the temperature measured at the bottom of the RPV fell slightly to 142 °C. At Unit 2, the temperature at the bottom of the RPV fell to 97 °C from 100 °C reported in the Update provided yesterday. Pumping of water from the turbine hall basement to the condenser is in progress with a view to allowing power restoration activities to continue. At Unit 3, plans are being made to pump water from the turbine building to the main condenser but the method has not yet been decided. This should reduce the radiation levels in the turbine building and reduce the risk of contamination of workers in the turbine building restoring equipment. No notable change has been reported in the condition of Unit 4. Water is still being added to the spent fuel pools of Units 1 to 4 and efforts continue to restore normal cooling functions. Units 5 and 6 remain in cold shutdown. We understand that three workers who suffered contamination are still under observation in hospital. 2. Radiation Monitoring Dose rates at the Fukushima site continue to trend downwards. In 28 of the 45 prefectures for which data are available, no deposition of radionuclides was detected in the period 18 to 25 March. In seven of the other 17 prefectures, the estimated daily deposition was less than 500 becquerel per square metre for iodine-131 and less that 100 becquerel per square metre for caesium-137. On 26 March, the highest values were observed in the prefecture of Yamagata: 7500 becquerel per square metre for iodine-131 and 1200 becquerel per square metre for caesium-137. In the other prefectures where deposition of iodine-131 was reported, the daily range was from 28 to 860 becquerel per square metre. For caesium-137, the range was from 2.5 to 86 becquerel per square metre. In the Shinjyuku district of Tokyo, the daily deposition of iodine-131 on 27 March was 220 becquerel per square metre, while for caesium-137 it was 12 becquerel per square metre. No significant changes were reported in the 45 prefectures in gamma dose rates compared to yesterday. In general, gamma–dose rates tend to decrease due to the decay of short-lived radionuclides such as iodine-131. Two IAEA teams are currently monitoring in Japan. One team made gamma dose-rate measurements in the Tokyo region at 8 locations. Gamma-dose rates measured ranged from 0.08 to 0.15 microsievert per hour, which is within or slightly above the normal background. The second team made additional measurements at distances of 30 to 41 km from the Fukushima nuclear power plant. At these locations, the dose rates ranged from 0.9 to 17 microsievert per hour. At the same locations, results of beta-gamma contamination measurements ranged from 0.03 to 3.1 Megabecquerel per square metre. The first results of aerial surveys of gamma dose rates by the Japanese authorities have been received by the Incident and Emergency Centre. These are being analysed and will be presented when more detailed data have been received. New data from monitoring of the marine environment, carried out from 24 March 22:55 UTC to 25 March 03:32 UTC about 30 km offshore, show a decrease in both caesium-137 and iodine 131. The contamination at these locations is influenced by aerial deposition of fallout as well as by the migration of contaminated seawater from the discharge points at the reactor. The measured radiation doses rates above the sea remain consistently low (between 0.04 and 0.1 microsievert per hour). The first results of model predictions received from the SIROCCO Group at the University of Toulouse are being assessed. Recommendations relating to the restriction of drinking water consumption, based on measured concentrations of iodine-131, remain in place in seven locations (in one location for both adults and infants, and in six locations for infants). As far as food contamination is concerned, samples taken from 23 to 25 March in five prefectures showed iodine-131 in unprocessed raw milk, but the levels were far below the regulation values set by the Japanese authorities. Caesium-137 was also detected in samples of unprocessed raw milk taken on 23 March in Chiba prefecture, but at levels far below the Japanese regulation values. Caesium-137 was not detected in any of the samples taken from 24-25 March in the other four prefectures. Based on samples taken on 22 and 24-25 March, three prefectures (Chiba, Ibaraki and Tochigi) reported iodine-131 in celery, parsley, spinach, and other leafy vegetables above the regulation values set by the Japanese authorities. Caesium-137 was also detected above the regulation values in one sample of spinach taken on 24 March in Tochigi prefecture, but in the remaining two prefectures, the results were below regulation values. The Joint FAO/IAEA Food Safety Assessment Team arrived in Tokyo on Saturday. It will meet regulatory officials in various prefectures where food contamination has been detected. The team left for Fukushima early today. The Mission will assist and provide advice on sampling protocols, analytical procedures, data collected to date, and actions taken by the Japanese authorities for the control of contaminated foods. |
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krisluke
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27-Mar-2011 18:04
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krisluke
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27-Mar-2011 16:44
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Asian Currency News, Singapore, Thailand, MalaysiaAsian currencies got Stronger this week on speculation regional central banks will increase interest rates to dampen inflation, boosting yield premiums over developed Nations. The Philippine central bank joined China, India, South Korea, Indonesia and Thailand in raising borrowing costs this year by lifting the benchmark rate .25 percentage point to 4.25% on March 24, the 1st increase in more than 2 yrs. Overseas investors bought US$793M more Indonesian, South Korean and Thai equities than they sold in the last 4 days of this week. The MSCI Asia-Pacific Index of shares rallied the most this year on the week. The Bloomberg-JPMorgan Asia Dollar Index tracks the region’s 10 most-traded currencies showed gains of 0.6% from a week earlier to 116.95 yesterday after touching 117.04, the highest level since Y 1997. South Korea’s Won rose 1.1% on the week to 1,114.20 per USD, India’s Rupee rose 1% to 44.68 and Malaysia’s Ringgit rose 0.8% to 3.0260, the data showed. Developing economies in Asia are likely to grow 8.5% in Y 2011, more than 3 times the 2.5% pace for advanced economies, according to estimates by the International Monetary Fund reported in January. Paul A. Ebeling, Jnr. Benchmark policy rates in Indonesia and India are 6.75% and South Korea’s Key interest rate is 3%, compared to a maximum of 0.25% in the USA and Japan. Singapore Dollar to Reach Parity in 2015 according to Shayne Heffernan. The Singapore dollar exchange rate with respect to the US dollar has mostly fluctuated between SGD$ 1.5 and SGD$ 1.8 per 1 US$ since 2003. The Growth: 1.7422 (2003) 1.6902 (2004) 1.6644 (2005) 1.5889 (2006) 1.507 (2007) 1.4377 (2008) 1.279 (2010) Singapore dollar began weakening in early 2009 due to a decline in regional prices and reduced demand for market assets, and its value floated around the SGD1.5/USD mark for the initial months of 2009. However the path is clear, as Singapore develops the Singapore Dollar will see parity. As at  Dec 2010 In US$ million unless otherwise stated. I. Official reserve assets and other foreign currency assets*
Thai Prime Minister Abhisit Vejjajiva spoke on Monday Evening at The Foreign Correspondents Club of Thailand (FCCT). After his keynote speech in which he outlined the Government’s achievements in Education, Economic Growth and stabilizing rural income, Abhisit Vejjajiva took some Q& A. During the Q& A I was fortunate enough to ask the Prime Minister about the Thai Baht. I have estimated that by 2015 the Thai Baht will be at a rate of 23 to 1 USD. ![]() When asked about the rate the Prime Minister replied that he did not have a Baht problem, he had a dollar problem. More interestingly he suggested that the answer may be to not write international trade deals in USD but in an alternate currency. When asked if that would be an Asian Currency he replied, “why not”. In USD terms should Thailand and other South East Asian Countries move away from the USD as the standard for international trade, the USD may well depreciate at an increased rate. At this stage exposure to the Thai Baht, Singapore Dollar and the Malaysian Ringgit is a must in any diversified portfolio. |
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krisluke
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27-Mar-2011 16:41
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US Fed Lifts World MarketsIn View: World Equities enjoy the US Fed’s Open Liquidity Faucet The Word from player’s mouths this week on the World Markets: Strong The sight of US and European aircraft bombing an oil-exporting country and the resignation of the Portuguese PM on the back of austerity fatigue were the latest exceptional incidents to test markets this year. So far, the markets are standing tall, as they Trump the flock of Black Swan events. The S& P 500 is up 3.7% on the year, after its biggest weekly gainer since November, and is down just 2% from its peak in mid-February. The Nikkei 225, which got hammered after the earthquake, tsunami and nuclear crisis in Japan, is down just 7.6% on the year. There are a lot of reasons for markets to sell off: conflict in MENA damage to 10% of global gross domestic product Japan, weakness in emerging markets and corporate profit margins, the prospect of leading economic indicators peaking the coming to the end of QE-2, problems in peripheral Europe, the prospects of a European Central Bank (ECB) interest rate hike, and feelings among players that a correction is necessary. For all that, and to show just a 7% fall peak to trough in the S& P 500 tells me and should do you too that the world markets are not just resilient but Strong overall More evidence of this Strength can be seen in equity volatility as measured by the VIX. The VIX had its biggest weekly fall since Y 2008 this week and stands at 17, down 42% from its recent high. The market has seen every catalyst to take it South, from rising Crude Oil and Commodity prices to Libya, Japan and the EuroZone troubles. The performance is terrific, and now the VIX is back below 20, when lots of analysts and talking heads think it should be at 40. The Big Q: What is behind this strength and what could cause it to end? The Big A: The Power of Cash Players that Shayne and I are talking with are saying that the strength of Global asset markets is largely boosted by the efforts of central banks around the World, led by the US Federal Reserve, to open the liquidity faucets and flow cheap cash into the financial system. Again, the power of cash is Key. As inflation picks up, real or inflation-adjusted interest rates are either negative or very low now. That makes returns on cash unattractive, and there is a lot of cash on the sidelines. With negative real interest rates in many countries that sends cash into risk assets, equities and commodities. The stock market Bulls argue that, in spite of all the chaos, profits and growth numbers look very healthy, and shares are cheap after the falls since mid-February. The Global recovery is on track. Global monetary conditions have actually become easier following the Bank of Japan’s easing and investor sentiment readings, which were a bit too exuberant coming into February, are now a lot more sober, which is a positive sign. A potential headwind in here is the price of Crude Oil and other Commodities.Not many people are paying attention to Commodity prices but they may hurt earnings down the line as rising input costs rise for companies, and ability to pass them on to consumers. One conclusion is that you need to be careful on input costs and avoid the companies the are reluctant to or just cannot pass the cost to their consumers But, by and large concern over input costs is a reflection of the business cycle returning to normal. The market is changing its Goalposts. Players and the Media my express nervousness about rising input cost pressure and inflation, but all this is normal at this stage of the cycle, and should lead to increasing corporate pricing power and hence growth. The expected end of Quantitative Easing by the US Fed in June could lead to the excess cash in the system drying up. I believe and have been writing in this column that there will not be an end to QE until the jobless numbers in the USA go down significantly, hence I am looking for QE-3 or a extension of QE-2 +. Portugal’s troubles this week and the difficulty European politicians had in agreeing reforms suggest the EuroZone debt crisis has some way to run. Forecasts for next year’s growth will start to be published in the Summer, with some investors expecting a slowdown. For our part here at Live Trading News, we believe Portugal, Greece and Ireland’s woes are a Red Herring. Stay tuned… Paul A. Ebeling, Jnr. |
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krisluke
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27-Mar-2011 16:37
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LONDON PROTESTS: 400,000 Hit The Street Police Attacked With " Light Bulbs Filled With Ammonia " HSBC Branch AttackedThe Latest: Protesters have thrown light bulbs full of ammonia at police officers on Oxford Street, according to the Metropolitan Police Force's twitter feed.  It appears the majority if the violence is around London's Oxford Street shopping area, which was a rumored target for more aggressive protesters. The Met says two significant violent events have occurred away from the main protest route. The latest from Sky News is that 500 protesters have attacked an HSBC bank branch in Central London. The Ritz Hotel, in Mayfair, has also been attacked by protesters, according to Sky. Earlier:   ![]() Image: Plixi Hundreds of thousands of people are out in the streets of London today protesting government budget cuts. Early estimates had it around 250,000, but now there are suggestions it could be 400,000.   Thus far, protests have been nothing like those in London earlier this year, where students invaded buildings and attacked Prince Charles' car. The protest route stretches from Hyde Park, past Parliament, and down the Thames, according to the Guardian. It involves a wide section of people opposed to government policy, not just student protesters like previous events.   ![]() Image: Twitpic These protest come just days after Chancellor of the Exchequer George Osbourne released his latest budget, which called for more austerity cuts.   While the government has been cutting public spending, the UK has been experiencing high inflation and low growth, which is now dampening the ability of those cuts to trim the deficit. Don't miss: Niall Ferguson's complete and definitive guide to sovereign debt crises > |
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krisluke
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27-Mar-2011 16:28
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Radiation Levels Spike Near Damaged Nuclear Plant A magnitude 9.0 earthquake hit northern Japan on March 11, triggering tsunamis that caused widespread devastation and crippled a nuclear power plant. Are you in an affected area? Send an iReport. Read the full report on the quake's aftermath and check out our interactive explainer on Japan's damaged nuclear reactors.
![]() A rescue team looks for bodies among destroyed houses and debris in the tsunami-damaged town of Otsuchi in Iwate prefecture on March 26.
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krisluke
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27-Mar-2011 16:24
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Libyan rebels retake strategic town from Gaddafi
By Angus MacSwan
  AJDABIYAH, Libya (Reuters) - Libyan rebels backed by allied air strikes have recaptured the strategic town of Ajdabiyah, signalling that the tide may be turning against Muammar Gaddafi's forces in the east.   In the west, France said its warplanes destroyed five Libyan aircraft and two helicopters at an air base outside rebel-held Misrata on Saturday. Pro-Gaddafi forces had earlier pounded the city with tank, mortar and artillery fire that halted only as coalition aircraft appeared overhead, rebels said.   Western governments hope the raids, launched with the aim of protecting civilians, will also shift the balance of power in favour of the Arab world's most violent popular revolt.   Libyan government spokesman Mussa Ibrahim told reporters in the capital Tripoli that Gaddafi was directing his forces but appeared to suggest the leader might be moving around the country so as to keep his whereabouts a mystery.   " He is leading the battle. He is leading the nation forward from anywhere in the country," said Ibrahim.   " He has many offices, many places around Libya. I assure you he is leading the nation at this very moment and he is in continuous communication with everyone around the country."   Asked if Gaddafi was constantly on the move, Ibrahim said: " It's a time of war. In a time of war you act differently."   One resident in Misrata said 115 people had been killed in the city in a week and that snipers were still shooting people from rooftops.   In Ajdabiyah, rebel fighters danced on tanks, waved flags and fired in the air near buildings riddled with bullet holes. Half a dozen wrecked tanks lay near the eastern entrance to the town and the ground was strewn with empty shell casings.   Rebels said fighting had lasted through Friday night into Saturday. By the town's western gate there were bodies of more than a dozen of Gaddafi's fighters. An abandoned truckload of ammunition suggested his forces had beaten a hasty retreat.   " Thank you Britain, thank you France, thank you America," said one rebel, praising the Western air strikes against Gaddafi's forces.   EASTERN GATEWAY   Capturing Ajdabiyah, a gateway from western Libya to the rebel stronghold of Benghazi and the oil town of Tobruk, was a big morale boost for the rebels a week after coalition air strikes began to enforce a U.N.-mandated no-fly zone.   In Misrata, the only big insurgent stronghold left in Libya's west, cut off from the main rebel force to the east, shelling by Gaddafi's forces fell silent on Saturday when Western coalition planes appeared in the sky, rebels said.   Libya's third city is only about 200 km (120 miles) from the capital and Gaddafi can ill afford to leave it in the hands of anti-government protesters.   " He pulled his forces out of Ajdabiyah and Brega so that he puts all his weight in attacking Misrata and winning so he can control the whole west versus losing the whole east," a rebel, called Saadoun, said by telephone.   The French armed forces said around 20 French aircraft supported by an AWACS surveillance plane struck targets during the day on Saturday, including five Galeb fighter jets and two MI-35 helicopters on the ground outside Misrata.   Rebels said they had seized control on Saturday of the oil port of Brega, 70 km (45 miles) west along the Mediterranean coast from Ajdabiyah. But there was no independent confirmation.   Brega, site of an oil export terminal and refinery, sprawls over a large area and overall control can be hard to determine.   " Brega is 100 percent in the hands of liberating forces," said Shamsiddin Abdulmolah, a rebel spokesman in Benghazi.   Last week Libyan officials said nearly 100 civilians had been killed in the coalition strikes.   On Saturday, U.S. Defence Secretary Robert Gates dismissed the assertion, saying: " The truth of the matter is we have trouble coming up with proof of any civilian casualties that we have been responsible for."   " We do have a lot of intelligence reporting about Gaddafi taking the bodies of the people he's killed and putting them at the sites where we've attacked," Gates told CBS News' " Face the Nation with Bob Schieffer."   U.S. President Barack Obama, criticised by U.S. politicians across the spectrum for failing to communicate the goals of the air campaign, told Americans that the military mission in Libya was clear, focussed and limited.   He said it had already saved countless civilian lives.   Obama said Libya's air defences had been disabled, Gaddafi's forces were no longer advancing and, in places like Benghazi, his forces had been pushed back.   " So make no mistake, because we acted quickly, a humanitarian catastrophe has been avoided and the lives of countless civilians -- innocent men, women and children -- have been saved," Obama said in a weekly radio address.   Obama, due to speak to Americans about Libya again on Monday evening, had also been faulted by fellow politicians for taking on another military mission in a Muslim country with the United States embroiled in the Iraq and Afghan wars.   NATO has agreed to take over that role in enforcing the no-fly zone and arms embargo against Libya, but final details have not yet been worked out for the military alliance to take over the air strikes on Gaddafi's military and its equipment.   Libyan state television was broadcasting occasional, brief news reports of the air strikes. Mostly it showed footage -- some of it grainy images years old -- of cheering crowds waving green flags and carrying portraits of Gaddafi.   (Additional reporting by Alexander Dziadosz, Maria Golovnina, Michael Georgy, Ibon Villelabeitia, Lamine Chikhi, Mariam Karouny and Patricia Zengerle Writing by Tom Pfeiffer and Ibon Villelabeitia Editing by Ralph Gowling) |
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krisluke
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27-Mar-2011 16:19
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Radioactivity soars inside Japanese reactor
Satellite file image shows the damaged Fukushima Daiichi Power Plant
  TOKYO (Reuters) - Japanese authorities evacuated workers on Sunday from a reactor building they were working in after radiation in water at the crippled nuclear power plant reached potentially lethal levels, the plant's operator said.   Tokyo Electric Power Co said radiation in the water of the No. 2 reactor at the Fukushima Daiichi plant was measured at more than 1,000 millisieverts an hour. That compares with a national safety standard of 250 millisieverts over a year. The U.S. Environmental Protection Agency says a dose of 1,000 millisieverts is enough to cause haemorrhaging.   Japanese nuclear regulators said the water contained 10 million times the amount of radioactive iodine than is normal in the reactor, but noted the substance had a half life of less than an hour, meaning it would disappear within a day.   A Tokyo Electric official said workers were evacuated from the No. 2 reactor's turbine housing unit to prevent them from being exposed to harmful doses of radiation. They had been trying to pump radioactive water out of the power station after it was found in buildings housing three of the six reactors.   Tokyo Electric engineers have struggled the past two weeks to prevent a catastrophic meltdown at Fukushima Daiichi, after an unprecedented earthquake and tsunami knocked out the backup power system needed to cool the reactors.   The work has had to be suspended several times due to explosions and spiking radiation levels inside the reactors, in a crisis that has become the worst nuclear emergency since Chernobyl a quarter-century ago.   On Thursday, three workers were taken to hospital from reactor No. 3 after stepping in water with radiation levels 10,000 times higher than usually found in a reactor.   The latest radiation scare was confined to inside the reactor. Radiation levels in the air beyond the evacuation zone around the plant and in Tokyo have been in normal ranges.   Yukiya Amano, the director general of the International Atomic Energy Agency (IAEA), cautioned that the nuclear emergency could go on for weeks, if not months more. [nN2679678]   " This is a very serious accident by all standards," he told the New York Times. " And it is not yet over."   Radiation levels in the sea off the Fukushima Daiichi plant rose on Sunday to 1,850 times normal just over two weeks after the disaster struck, from 1,250 on Saturday, Japan's Nuclear and Industrial Safety Agency said.   " Ocean currents will disperse radiation particles and so it will be very diluted by the time it gets consumed by fish and seaweed," said Hidehiko Nishiyama, a senior agency official.   Several countries have banned produce and milk from Japan's nuclear crisis zone and are monitoring Japanese seafood over fears of radioactive contamination.   OVERSHADOWING RELIEF EFFORT   The crisis at the plant, 240 km (150 miles) north of Tokyo, has overshadowed a relief and recovery effort from the magnitude 9.0 quake and the huge tsunami it triggered on March 11 that left more than 27,100 people dead or missing in northeast Japan.   The Japanese government estimated last week the material damage from the catastrophe could top $300 billion (187 billion pounds), making it the world's costliest natural disaster.   In addition, power cuts have disrupted production while the drawn-out battle to prevent a meltdown at the 40-year-old plant has hurt consumer confidence and spread contamination fears well beyond Japan.   Amano, a former Japanese diplomat who made a trip to Japan after the quake, said authorities were still unsure about whether the plant's reactor cores and spent fuel were covered with the water needed to cool them.   He told the newspaper he saw a few " positive signs" with the restoration of some electric power to the plant, adding: " More efforts should be done to put an end to the accident."   U.N. Secretary-General Ban Ki-moon said it was time to reassess the international atomic safety regime.   Japan's nuclear crisis also looks set to claim its first, and unlikely, political casualty. In far away Germany, Chancellor Angela Merkel's party faces a defeat in a key state on Sunday, largely because of her policy U-turns on nuclear power.   NOT WORSENING   A Tokyo Electric official told a news conference on Saturday experts were still trying to figure out where to put the contaminated water they're trying to pump out of the reactors.   They also are not sure where the radiation is leaking from -- whether it's from the spent fuel rod pools or elsewhere in the reactors.   " That's the problem they have right now, is trying to figure out where this comes from," said Murray Jennex, associate professor at San Diego State University.   " You let (radioactive)stuff accumulate because you don't have a place to put it. It stays down in the bottom of the plant. If nothing happens, when it comes time to shut it down you clean it up and take care of it. But if something like this happens, that stuff now becomes loose sometimes."   Two of the Fukushima Daiichi reactors are now seen as safe but the other four are volatile, occasionally emitting steam and smoke.   " We are preventing the situation from worsening," Chief Cabinet Secretary Yukio Edano told a news conference on Saturday. " We've restored power and pumped in fresh water, and are making basic steps towards improvement, but there is still no room for complacency."   At Chernobyl in Ukraine, the worst nuclear accident in the world, it took weeks to " stabilise" what remained of the reactor that exploded and months to clean up radioactive materials and cover the site with a concrete and steel sarcophagus.   In Tokyo, a metropolis of 13 million, a Reuters reading on Sunday morning showed ambient radiation of 0.06 microsieverts per hour, well within the global average of naturally occurring background radiation of 0.17-0.39 microsieverts per hour, a range given by the World Nuclear Association.   (Additional reporting by Kiyoshi Takenaka, Chizu Nomiyama, Shinichi Saoshiro and Phil Smith in Tokyo, Jon Herskovitz in Kamaishi writing by Bill Tarrant editing by) |
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krisluke
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26-Mar-2011 23:35
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The UN System ![]() The basic structure of the United Nations is outlined in an organizational chart. What the structure does not show is that decision-making within the UN system is not as easy as in many other organizations. The UN is not an independent, homogeneous organization it is made up of sovereign states, so actions by the UN depend on the will of Member States, to accept, fund or carry them out. Especially in matters of peace-keeping and international politics, it requires a complex, often slow, process of consensus-building that must take into account national sovereignty as well as global needs. ![]() ![]() ![]() ![]() ![]() ![]() |
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krisluke
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26-Mar-2011 23:32
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krisluke
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26-Mar-2011 23:28
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The " Atoms for Peace" Agency![]() The IAEA is the world´s center of cooperation in the nuclear field. It was set up as the world´s " Atoms for Peace" organization in 1957 within the United Nations family. The Agency works with its Member States and multiple partners worldwide to promote safe, secure and peaceful nuclear technologies. (Learn more about the IAEA in this video). Organizational ProfileThe IAEA Secretariat is headquartered at the Vienna International Centre in Vienna, Austria. Operational liaison and regional offices are located in Geneva, Switzerland New York, USA Toronto, Canada and Tokyo, Japan. The IAEA runs or supports research centers and scientific laboratories in Vienna and Seibersdorf, Austria Monaco and Trieste, Italy. (See Offices and Contacts). The IAEA Secretariat is a team of 2200 multi-disciplinary professional and support staff from more than 90 countries. The Agency is led by Director General Yukiya Amano and six Deputy Directors General who head the major departments. (See IAEA Staff). IAEA programmes and budgets are set through decisions of its policymaking bodies - the 35-member Board of Governors and the General Conference of all Member States. Reports on IAEA activities are submitted periodically or as cases warrant to the UN Security Council and UN General Assembly. (See Policy Bodies). IAEA financial resources include the regular budget and voluntary contributions. The Regular Budget for 2008 amounts to € 277 million. The target for voluntary contributions to the Technical Co-operation Fund for 2008 is $80 million (as per the latest IAEA Annual Report). IAEA Mission & ProgrammesThe IAEA´s mission is guided by the interests and needs of Member States, strategic plans and the vision embodied in the IAEA Statute. Three main pillars - or areas of work - underpin the IAEA´s mission: Safety and Security Science and Technology and Safeguards and Verification. (See Our Work). Relationship with United NationsAs an independent international organization related to the United Nations system, the IAEA´s relationship with the UN is regulated by special agreement [pdf]. In terms of its Statute, the IAEA reports annually to the UN General Assembly and, when appropriate, to the Security Council regarding non-compliance by States with their safeguards obligations as well as on matters relating to international peace and security. |
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