Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Friday, 20 April 2012

KSE ends flat after crossing key barrier


KARACHI: Karachi stocks ended almost flat on Friday, initially buoyed by mid-tier stock buys on hopes of healthy corporate profits but were later dragged down when the index crossed 14,000 points, a key psychological line, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.05 percent, or 7.01 points, higher at 13,936.48.

Volume was 244.2 million shares, compared with 182.59 million shares traded on Thursday.

"The market once again failed to close above 14,000 ... as investors remained cautious," said a dealer.

The KSE-index hit an intra-day high of 14,061.05 points.

Amongst the most active companies, Engro Polymer ended 2.5 percent higher at 13.14 rupees, Pakistan Telecommunication Co Ltd closed 4.75 percent higher at 13.90 rupees and Jahangir Siddiqui fell 3.66 percent to close at 18.14 rupees. (Reuters)
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Thursday, 19 April 2012

KSE down as traders offload E&P stocks


KARACHI: Local stocks ended slightly lower on Thursday because of selling in the energy sector, but investors bought mid-tier shares on hopes of healthy corporate profits, dealers said, containing losses.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.06 percent, or 8.48 points, lower at 13,929.47.

Volume was 182.59 million shares, compared with 261.5 million shares traded on Wednesday.

"Selling in E&P (Exploration and Production) stocks led the market to fall marginally," said a dealer.

Pakistan Oilfield shares ended 0.65 percent lower at 377.20 Pakistani rupees, while Oil and Gas Development Company stocks fell 0.76 percent to end at 165.02 rupees. (Reuters)
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Sunday, 15 April 2012

Multan region faces CNG closure


MULTAN: Multan region is facing CNG closure for three consecutive days while the citizens are forced to buy expensive fuel.

Following the gas load management program, more than 200 CNG stations were closed in Multan region including Vihari, Chichawatni, Khanewal, Muzaffargarh, Lyyah and Dera Ghazi Khan.

Commuters were facing severe problems in carrying out their day-to-day tasks where CNG is closed for three days, starting from 6am today.

The CNG supply will be resumed on Wednesday.
The public transport owners have increased the fares due to CNG suspension and increased petrol prices.
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Sunday, 8 April 2012

Japan-China IMF talks around the corner


TOKYO: Japanese Finance Minister Jun Azumi said on Saturday Japan would hold high-level talks with China over contributions to the International Monetary Fund to help ease the euro zone debt crisis ahead of a G20 finance leaders' meeting in Washington.

The two nations have not yet decided whether to increase contributions to the IMF after the euro zone expanded its bailout capacity last month, Azumi told reporters after meeting his Chinese counterpart, Xie Xuren.

"Europe's problem has eased from a critical situation seen last year but it is not a situation where we can be optimistic. We need to watch the situation cautiously," Azumi told reporters.

"As for contributions to the IMF, we will hold high level talks towards the G20 meeting in Washington."

The European Union expects G20 leaders to agree to contribute more money to the IMF this month after Europe expanded its own bailout capacity to 700 billion euro from 500 billion.

Azumi also said he wants Japan and China to lead the global economy this year and Japan's economy will be able to achieve its goal of real growth rate of about 2 percent this fiscal year.

"It is Asia's economy that has to lead the global economy. Especially, the economies in Japan and China need to achieve steady improvement," Azumi said.

"The nation's domestic demand is improving considerably thanks to reconstruction demand," he added, referring to Japan. "There have been various factors such as a strong yen and higher oil prices, but Japan's corporate fundamentals are not bad." (Reuters)
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Wednesday, 4 April 2012

Oil down in Asian trade


SINGAPORE: Oil fell in Asian trade Wednesday as hopes faded for a fresh dose of monetary stimulus from the US Federal Reserve, analysts said.

New York's main contract, West Texas Intermediate crude for delivery in May, shed 30 cents to $103.71 per barrel. Brent North Sea crude for May settlement was down 42 cents at $124.44 in morning trade.

"Oil fell... as caution over lacklustre demand growth and fading expectations for more monetary stimulus from the US central bank countered concerns about potential supply disruptions," Phillip Futures commented.
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Sunday, 1 April 2012

Egypt's MB names presidential candidate


CAIRO: Egypt's Muslim Brotherhood (MB) is to field its deputy chairman Khairat al-Shater as a candidate in the upcoming presidential election, the group's party and supreme guide said on Saturday.

"The Freedom and Justice Party will nominate Khairat al-Shater as a candidate for the presidency," the FJP said on its Facebook page.

The 61-year-old professor of engineering and business tycoon will be standing in the country's first presidential election since a popular uprising ousted veteran leader Hosni Mubarak last year.

The election is scheduled for May 23 and 24.

The Brotherhood's supreme guide, Mohammed Badie, confirmed Shater's nomination at a news conference when he read out a brief statement from Shater, who was not present.

"After it was decided to field my name in the presidential elections, I can only accept the decision of the Brotherhood. I will therefore resign from my position as deputy chairman," Shater's statement said.

The Muslim Brotherhood had repeatedly said it would not put forward a member for the election, but its leadership insists that Shater's nomination is not an about turn, but a necessary measure in the face of developments.

"There is a real threat to the revolution and to the democratic process," said the Brotherhood's secretary general, Mahmud Hussein.

The nomination is likely to intensify a stand-off with the ruling Supreme Council of the Armed Forces (SCAF), which took power when Mubarak was ousted in February, 2011. (AFP)
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Syrian forces on offensive


DAMASCUS: Syrian forces pressed their assault across the country on Monday as international peace envoy Kofi Annan stressed that there could be no deadline to ending the year-long crisis.

A UN official meanwhile said they were investigating reports that Syrian rebels were using child soldiers in their battle against President Bashar al-Assad's forces.

Clashes were reported in the central flashpoint city of Homs, in Damascus province and other areas, leaving at least 32 people dead, including 19 civilians, the Syrian Observatory for Human Rights said.

At least 16 people including four soldiers and two children died as regime forces pounded several neighbourhoods of Homs, the Britain-based watchdog said.

In Damascus province, seven soldiers and five civilians were killed in clashes in two towns -- Harasta and Zabadani.

The violence came as Annan, the United Nations and Arab League envoy to Syria, said no time limit could be set to ending the revolt against the Assad's regime, which erupted last March.

"I think only Syrians should decide the issue of Assad's resignation," Annan told Russian news agencies in remarks translated into Russian.

"It's important to sit all Syrians behind a negotiating table," he said, speaking a day after meeting Russian President Dmitry Medvedev.

The former UN chief said it was "incorrect to give any deadlines" for ending the violence in Syria, in which more than 9,100 people have already been killed, according to monitors.

Medvedev had warned on Sunday that Annan represented the last chance for avoiding a civil war in Syria, promising him Russia's full support.

Annan is to hold talks on Tuesday with Chinese leaders in Beijing, who he has said he hopes will also back his mission. (AFP)
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Egypt former minister gets 8 years jail


CAIRO: A Cairo court sentenced former Housing Minister Ibrahim Soliman to eight years in jail on Thursday and fined him 2.18 billion Egyptian pounds ($360.9 million) for squandering public funds in two separate real estate deals.

The court also sentenced Magdi Rasekh, father-in-law of ousted President Hosni Mubarak's eldest son Alaa, in absentia to five years in jail and fined him 2.34 billion pounds in connection with one of deals.

The cases against Soliman, minister from 1993 to 2005, and Rasekh were first referred to the public prosecutor in May, three months after Mubarak was ousted in a public uprising.

They were convicted of selling state land to businessmen for less than their market value. The fines included compensation to the state as well as penalties.

They will not be required to return the land, much of which has been developed and sold on to other people.

Rasekh had been board chairman at property developer SODIC, but stepped down last year, adding to a list of resignations at property firms scrambling to distance themselves from the country's deposed president.

Six other businessmen and state employees were also sentenced and fined in the case.

SODIC shares fell one percent while Egypt's benchmark index eased 0.4 percent. (Reuters)
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Landmark Arab summit in Iraq


BAGHDAD: Arab leaders will stop short of calling for Syrian President Bashar al-Assad to quit on Thursday in Baghdad, with the city locked down for its first major regional summit in a generation.

With 100,000 security forces standing guard in the Iraqi capital, officials took unprecedented measures to prevent attacks, by closing off a large swathe of the city's roads and mobile phone networks, and shutting down its airport and surrounding airspace to commercial traffic.

And with the country having suffered deadly violence just last week, just one attack has been reported since Tuesday's meeting of economy and finance ministers, a low figure by Baghdad's often brutal standards.

Six visiting Arab leaders as well as UN chief Ban Ki-moon had arrived in Baghdad by Thursday morning for the summit, which regional officials have pushed to focus on a wide variety of issues, ranging from the Arab-Israeli conflict to jumpstarting the area's economy.

The focus, however, has been on Syria, and officials say Arab leaders will stop short of calling for Assad's ouster.

Iraqi Foreign Minister Hoshyar Zebari's confirmed Wednesday evening that the summit of the 22-member Arab League will steer clear of the strong moves advocated by Qatar and Saudi Arabia to resolve the Syria crisis.

The UN says more than 9,000 people have been killed in a bloody crackdown by Syrian forces on a year-long revolt.

The two issues have pitted countries which have called for Assad to leave and advocated sending arms to rebel groups against those pushing for political reconciliation, such as Iraq.

Iraqi leaders have said 10 visiting regional leaders will attend the summit, following two days of meetings of Arab economy and foreign ministers, including neighbouring emirate Kuwait.

Now-executed dictator Saddam Hussein's 1990 invasion of Kuwait came just months after Baghdad hosted its last Arab summit.

Qatar's Prime Minister Sheikh Hamad bin Jassem Al-Thani meanwhile said in an interview with Al-Jazeera, excerpts of which were posted on the network's website, that his country was sending a "message" to Iraq's leadership by reducing its representation at the Arab Summit to a minimum.

The premier said he would have wanted the level of representation to be higher "but we will sit with them in the future and talk," he added. He did not elaborate.

Qatar is represented at the summit by its ambassador to the Cairo-based Arab League, Saif bin Muqaddam.

Egypt's Arab League ambassador, Afifi Abdel Wahab, told journalists that the pan-Arab body's next summit will be held in the Qatari capital Doha.

More than 100,000 members of Iraq's forces are providing security in Baghdad, and Iraq has spent upwards of $500 million to refurbish major hotels, summit venues and infrastructure.

Despite the dramatically tighter measures, a suicide bomber at a police checkpoint in west Baghdad killed one policeman and wounded two others on Tuesday, officials said.

A week ago, Al-Qaeda attacks nationwide killed 50 people, including three in a car bombing opposite the foreign ministry. (AFP)
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Gunmen seize Saudi diplomat in Yemen


ADEN: Unknown gunmen seized Saudi Arabia's deputy consul outside his home in the southern Yemeni port city of Aden on Wednesday, a police official told AFP.

The kingdom's foreign ministry confirmed the kidnapping in a statement carried by SPA state news agency.

"Abdullah al-Khalidi was kidnapped while leaving his home in the Mansoura neighbourhood of Aden," said the Yemeni official, speaking on condition of anonymity.

He said police launched an investigation and were actively searching for the diplomat.

"He was taken to an unknown location and we are searching for him," the official added.

Insecurity has plagued Yemen's mostly lawless southern region in the past year, with Al-Qaeda-linked militants overrunning several towns in Aden's neighbouring Abyan province in May, and the abduction of foreigners is common.

The Saudi foreign ministry warned the kidnappers that they will be "held responsible for his (captive) safety" and demanded his immediate release.

It said the kidnappers will "achieve and get nothing out of this act," adding that the kingdom would "take all necessary measures to protect its diplomats and employees."

Another Yemeni police official told AFP that Khalidi's kidnapping was not politically motivated.

"He has some personal conflicts with people in Aden," the official said, adding that in recent months, the deputy consul had been threatened and unknown assailants had even "thrown a grenade at his home in Aden."

He did not give further details.

Late last year, unknown gunmen stopped the diplomat while he was driving in Aden, pulled him from his car and then stole it. He was unharmed.

Khalidi is the third Saudi national to be kidnapped in Yemen in as many years. In April 2011, tribesmen kidnapped a Saudi diplomat in the capital Sanaa in an apparent bid to settle a trade dispute involving a Saudi businessman.

Saeed al-Maliki, a second secretary at the Saudi embassy, was released nine days later.

In November 2010, gunmen kidnapped a Saudi doctor in north Yemen and demanded the release of nine jailed members of Al-Qaeda.

Dhafer al-Shihri, acting head of Al-Salam Hospital in Saada city, was released the same day after tribal mediation.

Saudi Arabia has played a crucial role in the power-transition deal that forced former president Ali Abdullah Saleh out of office after a year-long uprising against his rule.

The kingdom is also a key donor to the impoverished country. On Tuesday, King Abdullah ordered the donation of petroleum products to Yemen, enough to cover the country's needs for two months.

The kingdom is also expected to host a donor conference in May to organise the delivery of urgently needed humanitarian relief.

Militants with ties to Al-Qaeda have exploited the weakening central government to strengthen their presence in Yemen, launching deadly attacks against security forces, especially across the restive south and southeast.

Aden itself is also a separatist stronghold, with local militants disrupting the referendum-like presidential election last month, saying the vote failed to meet their aspirations of autonomy or outright independence for the south.

More than 200 people have been abducted in Yemen over the past 15 years, many of them by members of the country's powerful tribes who use them as bargaining chips with the authorities.

Almost all of those kidnapped were later freed unharmed. (AFP)
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Syria accepts Annan peace plan


BEIJING: Syria has accepted a proposal crafted by Kofi Annan that aims to end bloodshed in the strife-hit country, but the United Nations-Arab League envoy has cautioned implementation is key to peace.

Monitors say over 9,100 people have been killed in Syria over the past year as President Bashar al-Assad's regime cracks down on protests, and the plan urges a UN-supervised halt to fighting, bringing hopes the violence will end.

"The Syrian government has written to the Joint Special Envoy Kofi Annan accepting his six-point plan, endorsed by the United Nations Security Council," Annan's spokesman Ahmad Fawzi said in a statement.

"Mr Annan views this as an important initial step that could bring an end to the violence and the bloodshed, provide aid to the suffering, and create an environment conducive to a political dialogue that would fulfil the legitimate aspirations of the Syrian people," he said.

Annan is currently in Beijing on a trip aimed at shoring up support for his six-point plan, which also calls for a daily two-hour humanitarian ceasefire and access to all areas affected by the fighting in Syria.

He held talks with Chinese Premier Wen Jiabao, who pledged his support for his mediation efforts -- as did Russian President Dmitry Medvedev when Annan visited Moscow over the weekend.

According to Fawzi, Annan has written to Assad asking Damascus to "put its (plan's) commitments into immediate effect".

He has also urged the release of people detained over the past year of the uprising against Assad's regime.

"Mr Annan has stressed that implementation will be key, not only for the Syrian people, who are caught in the middle of this tragedy, but also for the region and the international community as a whole," Fawzi said.

"As the Syrian government acts on its commitments, Mr Annan will move urgently to work with all parties to secure implementation of the plan at all levels."

The envoy also urged "key countries to support this development and help ensure its effective implementation."

As news of Syria's acceptance emerged, the restive country's opposition factions met for a second day in Istanbul to agree on common objectives for their nation's future ahead of a weekend "Friends of Syria" conference.

Syria's fragmented opposition has struggled to remain united in the face of the regime's deadly crackdown and the Istanbul talks are aimed at shoring up ranks and securing international recognition. (AFP)
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At least eight killed in Syria violence


BEIRUT: At least eight people, including four civilians, were killed early Tuesday across Syria in clashes between regime forces and rebel troops, the Syrian Observatory for Human Rights said.

The Britain-based group said one woman was killed by a stray bullet in the Damascus suburb of Douma and two other women died in Maaret al-Numan, in the northwest province of Idlib.

One civilian was killed by sniper fire in Deblan, a neighbourhood of the flashpoint central city of Homs which has been under attack for weeks by regime forces trying to root out rebels.

Four soldiers also died in the clashes with rebel troops in Maaret al-Numan, the Observatory said.

Activists reported violence in several other towns in the province of Homs or Hama.

The Observatory said more than 70 percent of the population of Saraqeb in northwest Idlib province has fled in recent days in the face of a government assault that began on Saturday.

It said at least 18 civilians have been killed there and more than 63 homes torched.

The uprising in Syria began as a popular revolt in March of last year but has transformed into an insurgency that many fear will lead to a full-blown civil war.

Monitors say more than 9,100 people have died in the revolt against the regime of Bashar al-Assad. (AFP)
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Syria tops Arab agenda at Iraq summit


BAGHDAD: After decades at the centre of the Arab world, Syria now sits in the dock with regional leaders meeting in Baghdad this week over how to end Bashar al-Assad's bloody crackdown on an anti-regime uprising.

But wide disparities among Arab chiefs' positions may hamper any hope of an aggressive resolution from the meeting, the first to be held in Iraq in more than 20 years and taking place under heavy security after deadly bombings just a week ago.

Crucially, the Arab League will have to reconcile a proposal by Gulf countries to arm opposition groups against Assad, and states like Iraq who are calling instead for a political resolution to the year-long crackdown that monitors say has left more than 9,000 dead.

"If you are talking about Syria itself, it is not an easy issue," Iraqi Deputy National Security Adviser Safa Hussein told.

"There is a division internationally and there is a division within the Arab world. I don't think we should expect miracles to happen in the summit, but I would say there would be an opportunity to bring Arab opinions closer."

Iraqi authorities have insisted that the summit will focus on structural reform of the Arab League in an effort to make the organisation more active, but Syria remains in the limelight, rocked by ongoing protests and deadly clashes, US and European sanctions and a United Nations human rights probe.

Russian President Dmitry Medvedev warned on Sunday that Kofi Annan represented the last chance for avoiding a civil war in Syria and offered the UN-Arab League envoy Moscow's full support.

Medvedev's stark message to Moscow's traditional ally came only hours after US President Barack Obama announced plans to send "non-lethal" aid to the Syrian rebels and new waves of violence swept the battle-scarred country.

Baghdad has played down the possibility of a new resolution addressing the situation in Syria, while Arab League chief Nabil al-Arabi told pan-Arab daily Al-Hayat it was unlikely that the meeting in Iraq would call for the Syrian leader to step down.

The summit also marks a re-emergence of Iraq, hosting its first Arab League meeting since Saddam Hussein's 1990 invasion of Kuwait, which triggered UN sanctions and was eventually followed by the 2003 US-led invasion.

Iraq has called in some 4,000 extra policemen and soldiers to provide security and spent an estimated $500 million to refurbish major hotels and summit venues. (AFP)
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US can no longer dictate: Ahmadinejad


DUSHANBE: Iranian President Mahmoud Ahmadinejad said on Monday the United States could no longer dictate policy to the rest of the world and relations between NATO and Pakistan would become more unstable.

"NATO and the United States should change their policy because the time when they dictate their conditions to the world has passed," Ahmadinejad said in a speech during a conference on Afghanistan's economy in the capital of neighbouring Tajikistan.

"Relations between NATO and Pakistan, their unsteadiness and instability, will only grow," he said. (Reuters)
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Homs pounded, Syrian tanks in north town


BEIRUT: Syrian forces pounded the already battered city of Homs with tank and mortar fire and troops raided a rebellious northern town on Saturday, leaving 10 civilians and four soldiers dead, opposition activists said.

With the year-long bloodshed showing no signs of abating, the U.N.-Arab League peace envoy for Syria, Kofi Annan, flew to Moscow in an effort to secure strong Russian support for his efforts to bring about a ceasefire and open political dialogue.

While Western and Arab states are calling for President Bashar al-Assad to stand down first, Russia is putting the onus on the armed rebels and their foreign supporters to halt their year-long uprising, saying its long-time ally Syria was ready for talks.

"Russia sees an immediate end of violence in Syria is a priority," the Kremlin said in a statement on Saturday, a day ahead of Annan's meeting with President Dmitry Medvedev.

"... the key task is to convince the Syrian opposition to sit down at the negotiation table with the authorities and reach a peaceful resolution of the crisis," it added.

On the ground, the idea of a negotiated peace seemed more remote than ever, with clashes reported in numerous locations.

Four died in Homs, the epicenter of the anti-Assad revolt, as the central city suffered another day of what activists said was indiscriminate gunfire and shelling on residential areas.

"The shelling started like it does every morning, for no reason. They are using mortar and tank fire on many neighborhoods of old Homs," an activist in Homs's Bab Sbaa district told Reuters by Skype.

He said most residents in the area had fled to safer districts and many were trying to escape the city altogether.

Syrian troops have repeatedly targeted Homs, Syria's third largest city, and said last month they had regained the one-time rebel bastion. However, a sharp upswing in violence this past week suggests they are struggling to maintain control.

REBELS UNDER FIRE

However, the Homs activist, who declined to be named for fear of reprisals, suggested the opposition Free Syrian Army was also incapable of re-establishing their authority.

"The Free Syrian Army had been in Bab Sbaa when the army started shelling the area four days ago and they weren't able to block the army raids because they were getting hit by mortars at the same time that armored vehicles were coming in," he said.

"We only have a few rebels here left, there is nothing they can do," he added.

Independent verification of the reports is impossible because the Syrian authorities have barred access to foreign journalists and human rights workers.

Further to the north, security forces killed at least one person and wounded dozens more in raids on Saraqib, in Idlib province bordering Turkey, according to the British-based Syrian Observatory for Human Rights (SOHR), which has a network of contacts in Syria.

"There are dozens of tanks and armored vehicles storming Saraqib now and there is heavy artillery fire," an activist called Manhal said via Skype.

"A portion of the rebels have made a strategic retreat, but there are rebel forces still inside, and about a third of residents have fled the town," he added. SOHR later said around 60 percent had left Saraqib.

Mortars and heavy artillery fire hit also the city of Qusair, in Homs province, reportedly killing three civilians.

In the southern province of Deraa, birthplace of the revolt, SOHR said a man was shot dead at a checkpoint in an area where a soldier had been gunned down. Three other soldiers were killed in an attack in the northeastern province of Hasaka, it said.

RUSSIAN COMPLAINTS

Activists in the city of Douma, just north of the capital Damascus, reported hearing explosions from heavy fighting overnight as ambulances raced through the streets. By late morning they said the fighting had eased and reported seeing armored vehicles and snipers deployed.

Army forces were also bombarding the town of Qalaat al-Madyaq, close to Hama, in central Syria. SOHR said government troops had have been trying to storm the city for two weeks, but have met stubborn resistance.

More than 8,000 people have died in the uprising, according to U.N. figures, with Western and Arab states accusing the Syrian army of committing widespread brutal abuses.

The Syrian government says rebels have killed some 3,000 security forces and blames the violence on "terrorist" gangs.

Annan is leading international efforts to bring peace and has drawn up a six-point plan, including demands for a ceasefire, the immediate withdrawal of heavy armor from residential areas and access for humanitarian assistance.

Attempts to halt the conflict have been stymied by divisions between world powers, with Russia and China having so far vetoed two U.N. resolutions highly critical of Damascus.

However, the pair did support a Security Council resolution earlier this week endorsing Annan's mission and the former U.N. chief is due to fly to Beijing after his Russia talks.

Moscow has accused the West of being too one-sided in the conflict, arguing that outside support for rebels is fuelling the fighting in Syria, which hosts a Russian naval base.

"We intend to outline at the forthcoming meeting our essential approach to ensure ceasefire and end of violence in Syria, which would be difficult to enforce until external armed and political support of the opposition is terminated," the Kremlin statement said on Saturday. (Reuters)
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EU slaps sanctions on Assad's wife


BEIRUT: The European Union slapped sanctions on President Bashar al-Assad's powerful mother and wife on Friday, targeting his inner circle in an effort to force Syria to end its repression of a year-long uprising.

The EU's latest round of sanctions hit 10 other prominent personalities, including Assad's sister and sister-in-law, banning them from visiting the 27-nation bloc, freezing their assets and stopping them from shopping with European firms.

"With this new listing we are striking at the heart of the Assad clan, sending out a loud and clear message to Mr. Assad: he should step down," said Dutch Foreign Minister Uri Rosenthal after fellow ministers backed the move at a meeting in Brussels.

The decision came on a day of renewed violence across Syria, with the army raining mortar rounds into the rebellious city of Homs, killing up to 11 civilians, opposition supporters said.

Live television feeds from around Syria showed a slew of anti-Assad rallies, including in the Damascus district of Barzeh, in the northwestern city of Hama, in Qamishli in the Kurdish east, and in the southern province of Deraa.

"Damascus here we come," read several placards held up by the relatively small crowds. Activists said eight people were wounded after demonstrations near five Damascus mosques were broken up by security forces.

On the diplomatic front, the U.N.-Arab League envoy Kofi Annan, who is leading international efforts to stop the relentless mayhem, planned to travel to Moscow and Beijing this weekend for talks on the crisis, his spokesman said.

Russia and China have resisted Western and Arab demands that Assad stand down and have vetoed two U.N. resolutions highly critical of Damascus. However, they supported a Security Council statement this week backing Annan's peace initiative, in a move seen as a sign they were toughening their stance on Syria.

Nevertheless, both Russia and China voted against a call by the U.N. Human Rights Council on Friday to extend a probe into abuses by Syrian forces, arguing it was too one-sided.

The motion passed regardless, with 41 of the forum's 47 members voting in favor of the text, which said the perpetrators of the brutality had to be brought to justice.

GLAMOUR AND POWER

More than 8,000 people have died in the rebellion, according to U.N. figures, but Western powers have ruled out military intervention in such a sensitive part of the world, putting the emphasis instead on economic sanctions and diplomacy.

The new EU sanctions build on 12 previous rounds of sanctions aimed at isolating Assad, including an arms embargo and a ban on importing Syrian oil to the European Union.

At first sight they appear largely symbolic, but show the West is ready to broaden its net in its effort to isolate Assad.

A former investment banker, Assad's wife Asma cultivated the image of a glamorous yet serious-minded woman with Western values who was meant to humanize the isolated Assad family

But that image has crumbled over the past year, and she has stood resolutely by her husband's side, describing herself as "the real dictator" in an email published by Britain's Guardian newspaper last week.

Assad's mother, Anisa Makhlouf, has a lower profile than the Asma but opposition figures say she wields greater influence within the dynasty which has ruled Syria for four decades.

Asma's ancestral home is Homs, now a symbol of the revolt which has been subjected to particularly fierce army attack. Video from the city on Friday showed plumes of smoke rising from residential areas after being hit by apparent mortar fire.

The Syrian Observatory for Human Rights, which is based in Britain and has a network of contacts in Syria, said the army clashed with defectors in the north-eastern town of Azaz, on the border with Turkey. Three soldiers and one defector were killed as the army fired heavy machineguns and mortar rounds, it said.

It said three had died in clashes in Deraa, close to Jordan.

Other activists working for the Local Coordination Committees of Syria reported 32 deaths on Friday around the country. They also said rebels had captured 17 members of the security forces in the northwestern Idlib province.

It is impossible to verify reports from Syria because authorities have denied access to independent journalists.

Syria has said 3,000 members of the security forces have died in the uprising, which Damascus blames on terrorist gangs and foreign interference.

The violence has displaced 230,000 people and aid groups have pressed Syria to allow humanitarian access to the worst affected areas.

Relief teams from the International Committee of the Red Cross and Syrian Red Crescent have delivered aid to 9,000 people in the Syrian provinces of Homs and Idlib in recent days, the ICRC said on Friday.

ANNAN REVIEWING SITUATION

Annan has drawn up a six-point plan to end the unrest, including a demand for a ceasefire, political dialogue and full access for aid agencies. It also says the army should stop using heavy weapons in populated areas and pull troops back.

He sent five experts to Damascus earlier this week to discuss the deployment of international monitors -- something Assad has resisted. The team has now left Syria and there was no immediate word if they had made any progress.

"Mr. Annan and his team are currently studying the Syrian responses carefully, and negotiations with Damascus continue," his spokesman Ahmad Fawzi said in a statement from Geneva.

Asked whether Annan would be returning to Damascus for talks with Assad, Fawzi told a news briefing: "He will at some point decide to go back, but this is not the time yet."

Instead he will head to Russia and China, no doubt hoping to persuade them to bring their influence to bear on Syria.

Unlike the Arab League and Western countries, Annan has not explicitly called for Assad to step down, talking only about the need for dialogue and political transition.

Russia has historically close ties to Syria, which is home to its only naval base outside the former Soviet Union. But analysts believe Moscow is starting to hedge its bets about Assad's fate and is positioning itself for his possible fall. (Reuters)
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