Spain's unemployment total passes five million
Spain's unemployment figure passed the five million mark in the last quarter of 2011, official figures show.
The National Statistics Institute said 5.3 million people were out of work at the end of December, up from 4.9 million in the third quarter.
The rate rose from 21.5% in the third quarter to 22.8% - the highest rate in nearly 17 years.
Spain already has the highest jobless rate in the 17-nation eurozone and is expected to slide back into recession.
The 22.8% rate is more than twice the average unemployment rate of the eurozone, which stood at 10.3% in November, according to data released earlier this month.
The Spanish figures show almost half of all 16-24 year-olds in the country are jobless - 48.6% compared with 45.8% before.
Spain's new ruling Popular Party conservative government has pledged labour reforms to try to improve the jobs market.
On Thursday, public service employees staged a series of demonstrations across Spain to protest against unemployment and increasing austerity measures.
Budget cuts
Spain has struggled since the property bubble burst in 2008.
In the years between 2004 and 2008, the average house price in Spain rose 44%, Construction represented about 16% of GDP by the end of the boom, and the unemployment rate was down to 7.95%.
However, rising house prices fuelled the sub-prime mortgage market, leading the Spanish to borrow more as they struggled to get on the housing ladder.
The downturn has seen repossessions of Spanish properties rise 32% in the past year.
The range of austerity measures proposed by new Prime Minister Mariano Rajoy's government angered many ahead of this week's protests.
His measures include 8.9bn euros in new budget cuts, and tax increases designed to boost government coffers by 6.3bn euros.
However, there are concerns that Mr Rajoy will be unable to meet his pre-election pledge to cut the country's deficit to 4.4% of GDP in 2012.
The Bank of Spain predicts the country's economy will shrink by 1.5% this year, saying the eurozone debt crisis has destroyed business confidence and closed off bank credit, causing a large drop in domestic demand.
Growth in the US economy quickens in fourth quarter
The pace of US economic growth increased in the final three months of 2011, according to official figures.
The economy grew at an annualised rate of 2.8%, the Commerce Department said.
This was up from the 1.8% annual rate recorded in the previous quarter, although it was slightly lower than the 3% rate predicted by analysts.
However, the growth largely came from businesses stockpiling goods they had produced, rather than selling them.
Although the stockpiling lifted the figures, analysts believe businesses will not continue doing this, resulting in a lower growth figure for the current quarter.
The pace of consumer spending picked up to 2% from 1.7% in the previous quarter.
Much of this was attributed to an increase in sales of new cars, which rose by 14.8% over the quarter.
The Japanese tsunami last March disrupted production and delivery of models for major manufacturers, leaving customers waiting for pre-ordered cars.
'Repairing damage'
US Treasury Secretary Timothy Geithner said it was worth remembering that the economy was still recovering from the 2008 global recession.
"I think it's probably worth recognising that we still face tremendous challenges," he told a session at the World Economic Forum in Davos.
"As a country, we are still repairing the damage caused by the devastating financial crisis that still has huge lasting impact on the basic fortunes of most Americans."
He said the housing and construction sectors were still weak, unemployment remained a huge challenge and people still had too much debt.
He added it was reasonable to expect the US economy to grow between 2% and 3% in 2012.
The rate of growth depended on two fundamental factors, he said - what happens in Europe and the Gulf, which determines the oil price, and "whether Republicans in Congress decide they want to legislate things that are good for growth in the short term".
'Needs help'
Analysts warned that the headline growth figure for the fourth quarter did not tell the whole story.
"The Commerce Department's gross domestic product (GDP) report confirms the acceleration of growth that had been hinted at by a flurry of upbeat economic indicators and business surveys in recent weeks, but also reveals that the economy is less healthy than the headline growth rate would suggest," said Chris Williamson, chief economist at Markit.
David Watt, senior currency strategist at RBC Capital, said: "It's not that encouraging, but again, it's not going to affect the Fed.
"They're downplaying the recent economic numbers anyway. This seems consistent with the Fed's view that the US economy is going to need all the help it can get."
On Tuesday, the IMF warned that the US, along with other advanced economies, was "susceptible to spillovers" if the eurozone debt crisis intensifies.
The latest US jobs data showed that the unemployment rate dropped to 8.5% in December - the lowest rate in nearly three years - from 8.7% the month before. The Fed believes the rate will drop to 8.2% this year.
Stuart Hoffman, chief economist at PNC Financial Services, said he expected US growth to be "2.4% in 2012, and job growth will average about 140,000 per month, adding up to 1.7 million new payroll jobs over the course of this year".
World top enterprises expanding presence in China
As the European debt crisis wears on, many enterprises are turning their focus to the Chinese market. At the Davos Forum, heavy hitters from the business sector are seeking chances for their companies to gain exposure in China via the Chinese media.
This interview was initiated by the interviewee, the world’s largest Aluminium producer.
Besides the Russia Aluminium Industry United Company, many others of the world’s top 500 enterprises have also asked CCTV for interviews.
At last year’s Davos Forum, the Chinese Commerce Minister Chen Deming said that China was to expand its imports, leading to nearly a quarter increase in China’s import volume in the past year. Shop owners in the town of Davos described how impressed they’ve been by the appetite of Chinese consumers.
As China’s domestic market draws more and more attention from all over the world, its export industry is having a tough time.
Gao Jifan, CEO of Trina Solar Company, said, "Many of the developed countries are at their lowest ebb, and are strengthening their trade protection against China. Companies like us are facing huge challenges."
As a result, these Chinese companies are seeking opportunties in other regions, like the Asia-Pacific area, South America and Africa. Lamy said as its largest trading partner Europe is in an economic recession, China, as a large exporting country, should think about its own trading methods.
UN discusses turmoil in Syria
The conflict continues to escalate in Syria. The Arab League is suspending its monitoring mission in Syria because of increased violence. For its part the United Nations Security Council is working on an Arab-Western resolution to put a stop to the violence.
6 days after the Arab League monitors finished their report on Syria, the focus is now on the UN Security Council.
On the Friday’s closed-door meeting, a new Arab-European draft resolution was presented and discussed.
But Syria seemed intent on not following the path other Arab states have taken recently.
Syrian ambassador to UN Bashar Ja’afari said: "Syria will not be Libya. Syria will not be Iraq. Syria will not be Somalia. Syria will not be a failing state. Syria will deal with them equally, equally."
The new draft resolution expresses support of the Arab League’s call for President Bashar al-Assad to transfer power to his deputy in order to form a unity government.
It was presented to the council by Morocco - the only Arab country in the 15-member UN body, and was jointly drawn up by Arab states along with Britain, Germany, and France.
French ambassador Gerard Araud stressed it was very important to reach an agreement on Syria soon. He said: "We are facing a major crisis. I’m not playing words on, more than 5,500 people have been killed. The country is sinking into civil war. We are desperately looking for a political solution. And unfortunately, or fortunately, there is again, there is no alternative. We have here the League of Arab States which is proposing a solution. So our reaction is simply to support it."
Meanwhile, violence in the country has dramatically escalated in recent days.
And thousands thronged main squares across Syria rejecting calls for President Bashar al-Assad to step down.
Syrian support of Assad said: "We are here to emphasize just one point. Bashar is the only president, and no one can drive him away."
Violence has already caused heavy loss of life, especially in the areas of Homs, Idlib, and Hama.
Since Thursday alone, around 50 people including children have been killed in clashes between protesters and security forces.
Thousands of Tunisians march against religious extremism
Thousands of Tunisians marched in central Tunis on Saturday to protest religious extremism and the violence that comes with it, according to some witnesses.
The organizers of the march said about 6,000 to 7,000 people walked down a major avenue in the capital city, chanting slogans and holding posters against religious extremism.
A large number of representatives from the opposition parties and the civil society joined the march, which ended peacefully despite a countering protest organized by supporters of the Islamic Ennahdha party in the same area.
Nejib Chebbi and Maya Jeribi, leaders of the Progressive Democratic Party (PDP), were seen among the marchers, along with Hamadi Redissi, a journalist recently attacked by a Salafist for his support to a private TV that offended the extremists.
The TV channel was criticized by some conservatives for airing a controversial carton film allegedly representing God.
Lately, there has been a resurgence of incidents in Tunisia's universities involving some Salafists who demand a more conservative dressing code for students.
Most notably, some professors at a university campus at Manouba were injured during clashes with the Salafists and others have received death threats.
On Thursday, two police officers were seriously injured in the town of Regueb in southern Tunisia when a mob attacked a police station.
A similar incident occurred days before in the southern coastal town of Zarziz, when a group of some 50 assailants stormed a police station trying to free one of their friends arrested for alleged criminal activities.
Aung San Suu Kyi draws crowds on Burma election campaign trail
Burma's pro-democracy leader, Aung San Suu Kyi, is visiting the coastal town of Dawei on a political tour ahead of by-elections on 1 April.
It is the first time she has ventured outside Rangoon for several months. The visit is seen as a test of how freely she and her party are able to campaign.
Thousands gathered to see the 66-year-old Nobel peace prize winner, who was released from house arrest in 2010.
Burma's military-backed government has embarked on a cautious reform process.
Aung San Suu Kyi's party, the National League for Democracy (NLD) is contesting all the available constituencies in the coming by-elections.
She herself is seeking office in the rural township of Kawhmu.
An NLD spokesman told the BBC Ms Suu Kyi's visit to Dawei was intended to help organise the local party ahead of the elections.
However, this is much more than just an administrative trip, says the BBC's Southeast Asia correspondent, Rachel Harvey.
Wherever Ms Suu Kyi goes, crowds gather, hoping to catch a glimpse of the woman who was kept under house arrest for 15 of the last 23 years.
In Dawei they stood by the road chanting: "Long live Aung San Suu Kyi."
AFP news agency quoted her as telling supporters: "If we move in the right direction our country will have many opportunities. We are eager to seize them."
Reform process
The Burmese government is planning to build a huge industrial complex in Dawei, which could transform the region.
Earlier this month the authorities cancelled plans for a coal-fired power plant there because of environmental concerns.
This was widely seen as a victory for local activists and a sign that the process of reform is developing, says our correspondent.
The poll in April will be the first time that Ms Suu Kyi will participate directly in an election. She was under house arrest in 1990 when the NLD won the election by a landslide. It was not allowed to take power.
The NLD boycotted the 2010 election that saw the military-backed civilian administration of President Thein Sein replace the military junta.
The new administration has since entered into dialogue with Ms Suu Kyi and has changed the electoral laws that led to the NLD boycott.
UN inspectors visit Iran as nuclear tensions rise
Inspectors from the International Atomic Energy Agency (IAEA) have begun a three-day visit to Iran, to try to determine the purpose of the country's nuclear programme.
The visit comes at a time of escalating tension between Tehran and the West over Iran's nuclear activities.
The director general of the IAEA, Yukiya Amano, says Iran needs to engage and answer the agency's questions.
Iran denies that it is trying to develop a nuclear weapon.
The head of the IAEA team said they hoped to "resolve all the outstanding issues with Iran" over its nuclear programme.
"In particular we hope that Iran will engage with us on our concerns regarding the possible military dimensions of Iran's nuclear programme," IAEA Deputy Director General Herman Nackaerts said before leaving for Iran from Vienna's airport.
Iran's ambassador to the IAEA, Ali Asgar Soltaniyeh, said the inspection was aimed at foiling enemy plots and will prove the peaceful nature of Iran's nuclear work.
The dispute over Iran's nuclear activities has intensified since an IAEA report in November expressed serious concerns about the possible military dimensions of the programme.
The agency said it had information suggesting Iran had carried out tests "relevant to the development of a nuclear explosive device".
Sanctions
Since then the European Union and the United States have introduced a series of sanctions against Iran, including measures targeting the country's lucrative oil industry.
The EU sanctions prohibit the import, purchase and transport of Iranian crude oil and petroleum products as well as related finance and insurance.
All existing contracts will have to be phased out by 1 July.
That timing was intended to give some EU countries time to switch to alternative sources of oil, but Iranian lawmakers are now considering stopping exports to Europe within days, a move likely to drive up fuel prices.
Iran has also threatened to close the Strait of Hormuz at the entrance to the Gulf, through which more than 20% of the world's traded oil passes.
The United States has said it will use force if necessary to keep the shipping lane open, raising the prospect of a confrontation with Iran.
Embattled Yemeni President Arrives in US
Yemeni officials say outgoing President Ali Abdullah Saleh has arrived in the United States Saturday to seek medical treatment.
Mr. Saleh arrived at an unspecified location in the United States late Saturday after a stop in London.
His staff has said he is to be treated for injuries suffered during the assassination attempt last June, after which he spent several months recuperating in Saudi Arabia.
Meanwhile, Yemeni security officials said a high-ranking police officer, a soldier, and four Islamist militants were killed in the south of the country in the last 24 hours.
The officials said the head of a criminal investigation unit in Hadrawamout province was gravely wounded late Friday when unidentified gunmen attacked him near his house with automatic weapons. The attackers managed to flee, but the police officer later died of his wounds.
In the southern city of Zinjibar, the capital of Abyan province, a soldier and four Islamist militants died in overnight clashes. Government troops have been trying to regain control of swathes of territory in the province taken last year by Islamist groups.
Mr. Saleh, who is due to step down next month, left the Yemeni capital, Sana'a, for neighboring Oman a week ago. In his farewell speech, he asked the Yemenis to forgive him for any “shortcomings” during his 33-year rule and vowed to return to Yemen as the head of his General People's Congress party.
But thousands of Yemenis want Mr. Saleh to be put on trial for a violent crackdown in which hundreds of people have been killed. They reject granting him full immunity from prosecution, which the country's parliament approved last week as part of a Gulf Cooperation Council-backed deal to encourage him to leave office.
Mr. Saleh signed the plan last November and agreed to transfer presidential powers to his deputy ahead of February elections that will pick his successor. Yemeni state media said the president declared Vice President Abed Rabbo Mansour Haid responsible for the country and promoted him to the military rank of field marshal.
AU Unveils New Headquarters in Ethiopia Ahead of Summit
A contest for the job of Africa's top diplomat is expected to be the highlight of a continental summit opening Sunday in the Ethiopian capital, Addis Ababa.
On the eve of the summit, the African Union inaugurated its new headquarters in the Ethiopian capital, built and donated by China at a cost of $200 million. China's senior political adviser, Jia Qinglin, officially opened the facility Saturday during an event attended by Ethiopian Prime Minister Meles Zenawi, other African leaders, and foreign diplomats.
Jia said the complex, built on the site of a former maximum security prison, is a testament to China's friendship with the African people. He also praised China's growing trade with African countries, which he said reached $150 billion last year, representing a 13-fold increase in the past decade.
He said China is Africa's largest trading partner and Chinese investment there totals $13 billion.
Prime Minister Meles praised what he called the African Renaissance, which he said was modeled on China's state-led economic model. He also took the opportunity to criticize the western economic model of the late 20th century as “medicine that turned out to be worse than the disease.”
He pointed out that The Economist Magazine had in the past called Africa “The Hopeless Continent,” but has recently referred to it as “Africa Rising.”
“The pundits and academics who were publicly advocating for the recolonization of our continent have now refrained from doing so, at least in polite company. The very magazine that came up with the banner headline, “The Hopeless Continent” a decade ago, has recently come up with a new banner headline that simply read, “Africa Rising.” Africa is rising indeed. The African Renaissance has begun.”
The opening of the new AU headquarters was accompanied by the dedication of a memorial to victims of torture and executions at Addis Ababa's notorious Akaki prison. Other events included a celebration of the one-year anniversary of the revolution that ousted Egypt's leader Hosni Mubarak from power.
TCI 2012 Population Count Begins January 25th
The 2012 population and housing census which will count every person and house in the TCI, officially begins Wednesday, January 25th 2012.
Months of preparatory work concluded today Monday 23rd January when the census field workers, including enumerators, supervisors and interpreters,
took their oath of secrecy in separate ceremonies on Grand Turk and Providenciales.
HE Governor Ric Todd administered the oath at the Providenciales ceremony.
Head of the Census team Shirlen Forbes has stressed that all residents of the TCI are required to participate in the census exercise.
- The Census Ordinance entrusts to the Census Officer the legal authority and responsibility to conduct the census. There is a fine or penalty for persons who do not cooperate with census officers.' Forbes cautioned.
- During the census period, enumerators with easily recognizable census photo IDs, will visit every household in the Turks and Caicos Islands.
When visited, be sure to cooperate by responding to all the questions on the census questionnaire. If you are not visited please call or email the Statistical Office, he added.
- Ideally each adult in the household (18 years or older) should be interviewed. If this is not possible because persons are off island during the census period then any responsible adult will be interviewed provided that he/she knows all the required answers, Mr. Forbes noted.
Forbes assured residents that the information provided on the questionnaire will be held in the strictest confidence, which is guaranteed by the compulsory oath of secrecy taken by all census workers, for which any breech could lead to strong penalties.
The Census questionnaire will seek to capture information on the age, sex, religion, education, occupation and other important characteristics of each person. It also seeks to capture where a person lives in terms of type of housing and access to essential facilities.
Compilation and analysis of the census data should be completed by April this year and will provide government with accurate and reliable statistical data to guide policy formulation. The exercise is an essential step before setting up a Boundary Commission and compiling a new Electoral Register in preparation for new elections, which are scheduled for 2012.