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Obama says world cannot stand by on Syria

Obama says world cannot stand by on Syria (AFP) / 31 August 2013 President Barack Obama insisted that war weariness cannot excuse world powers from their duty to punish Syria after the gassing to death of hundreds of women and children. US President Barack Obama speaks during a meeting with Baltic leaders in the Cabinet Room of the White House in Washington on August 30,  2013. While he said he had made no “final decision” on taking military action against Bashar Al Assad’s regime, Obama gave his clearest indication yet that a “narrow, limited” attack is imminent. His remarks came after the United States released an intelligence report that concluded the regime had launched a chemical onslaught in the suburbs of Damascus last week, killing 1,429 people, including at least 426 children. “This kind of attack is a challenge to the world,” Obama told reporters at the White House. “We cannot accept a world where women and children and innocent civilians are gassed on a terrible scale,” he said, calling the attack a threat to US “national security interests.” “The world has an obligation to make sure we maintain the norm against the use of chemical weapons,” he said, slamming the failure of the UN Security Council to agree on action. Obama said he was looking at a “wide range of options” but had ruled out “boots on the ground” or a “long-term campaign.” “We are looking at the possibility of a limited, narrow act,” he said. France gave its backing to the US plans, saying a “strong message” should be sent to the Assad regime, but British lawmakers had already voted against any involvement in military action and other close US allies said they would not sign up. Russia, Syria’s most powerful ally, has questioned US intelligence about the August 21 gas attacks and has warned against any military strikes without UN backing. In Damascus, UN experts completed their investigation into the attacks east of the capital and said they would “expedite” a report on whether chemical weapons had been used there. The team is due to leave the war-battered country on Saturday and report back immediately to UN chief Ban Ki-moon, who has appealed to the West to allow time for their findings to be assessed. US Secretary of State John Kerry cited “multiple streams of intelligence” indicating that the Syrian government had carried out the chemical attack and that Assad himself is the “ultimate decision maker.” But the United States, faced with an impasse at the Security Council and the British parliament’s shock vote on Thursday, has been forced to look elsewhere for international partners. While Germany and Canada ruled out joining any military strikes, French President Francois Hollande said the British decision would not affect his government’s stance. Hollande said he and Obama “agreed that the international community cannot tolerate the use of chemical weapons, that it should hold the Syrian regime accountable for it and send a strong message.” Turkey, Syria’s neighbour, went further still, demanding not just surgical strikes to send a message about chemical weapons but a sustained campaign to topple the regime. “A limited operation cannot be satisfactory for us,” Recep Tayyip Erdogan was quoted as saying by the NTV news channel. Gruesome pictures of some of the reported victims of the attacks, including children, have shocked the world and piled on the pressure for a response that could draw a reluctant West into the vicious Syrian civil war. But Russia and even some US allies, have warned against any intervention, saying it risks sparking a wider conflict. Divisions over Syria have further chilled the frosty relations between Washington and Moscow ahead of the G20 summit next week in Saint Petersburg, where pointedly there will be no face-to-face talks between Obama and Russian President Vladimir Putin. Syria has denied using chemical weapons, and the foreign ministry said on Friday that the US intelligence report was “nothing but tired legends that the terrorists have been circulating for more than a week, with their share of lies and entirely fabricated stories.” The military build up was meanwhile continuing, with US warships armed with scores of cruise missiles converging on the eastern Mediterranean. In Damascus the mood was heavy with fear and security forces were making preparations for possible air bombardments, pulling soldiers back from potential targets. More than 100,000 people have died since the conflict erupted in March 2011 and two million have become refugees, half of them children, according to the United Nations. Continue reading

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GCC may face gas shortage by 2015 on strong demand

GCC may face gas shortage by 2015 on strong demand Staff Report / 31 August 2013 Gas shortage in the GCC will become more pronounced by 2015 as demand stays strong and supply struggles to keep pace, according to a recent report released by global consultancy firm Booz & Company, The second Power + Water Leader’s Forum will be held on September 23. — Supplied photo The report, entitled “Gas shortage in the GCC — how to bridge the gap”, suggests that increasing power consumption, depleting oil fields, gas exploration and long term gas export commitments have limited the local supply of gas in the region. The report further adds that GCC countries can address the supply demand imbalance by raising local gas prices gradually, improving energy efficiency and investing in alternative methods to overcome the shortage. In an effort to bring the gas sector back on track, Robin Mills, head of consulting at Manaar Energy, will outline recent developments in the GCC gas and power sector and discuss the regional gas supply outlook and its impact on prices at the second Power + Water Leader’s Forum. Taking place on September 23 at the Abu Dhabi National Exhibition Centre, the dedicated conference runs alongside the Power + Water Middle East exhibition, which takes place from September 23 to 25, and will provide an ideal platform for experts to discuss sustainable best practices and innovative solutions across two of the region’s bourgeoning sectors. “The GCC’s gas shortage can be resolved,” said Mills. “But timing is crucial and waiting for solutions to materialise might mean that GCC states will have to burn more valuable liquid fuels to meet demand.” “Governments need a mix of short- and long-term measures to address the gas shortage. They need to invest in new developments to increase production, increase local gas prices steadily to encourage efficiency, and expand the use of alternative sources in the energy mix. Gas-sector investment is expanding rapidly across the GCC. Some of the most interesting projects include the Khazzan tight gas project in Oman, the Bab and Shah sour gas projects in Abu Dhabi and the Emirates LNG import terminal in Fujairah.” Anita Mathews, director of Informa Energy Group, organisers of Power + Water Middle East, said that an alternative energy source now making strides in the region is nuclear. According to research reports, UAE has set an ambitious target of generating one-quarter of its power from nuclear sources over the next 15 to 20 years. To reach this target, Abu Dhabi plans to construct at least six nuclear plants at a cost of more than $5 billion each. Held in strategic partnership with the Abu Dhabi Water and Electricity Authority, Power + Water Middle East is supported by the Society of Engineers — UAE and Confederation of Indian Industry, which will be organising a government supported national pavilion at the event. business@khaleejtimes.com Continue reading

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India PM warns of inflation but reassures on rupee

India PM warns of inflation but reassures on rupee (AFP) / 30 August 2013 India’s premier warned the nation on Friday to brace for higher prices because of the rupee’s plunge to record lows, but he forecast the economy would pick up in the second half of the year. Manmohan Singh, addressing parliament for the first time since the rupee went into a tailspin this month, called the currency’s worst slide against the dollar in nearly two decades “worrying” and a “concern”. But he said actions by his left-leaning Congress-led government to reduce “the unsustainably large” current account deficit, which has undermined the currency, would bear fruit. “We are no doubt faced with important challenges but we have the capacity to address them — it is at times like these that a nation shows what is truly capable of,” he told lawmakers. He warned Indians that the weak rupee “will no doubt lead to some further upward pressure on prices” because of the rise in import prices, especially of fuel. Singh, a reknowned economist hailed for lighting the fuse for India’s fast growth in the 1990s as finance minister, has been under fire as premier with his government hit by a string of corruption scandals that have sapped foreign investor confidence. He skirted opposition charges that the rupee’s woes were due to the government mismanagement and blamed the fall on tensions over Syria and a pick up in the US economy that is expected to lead to an end to the Federal Reserve’s stimulus. Seeking to put a positive spin on the volatile exchange rate, he suggested that the currency’s decline could prove a blessing as it would make India’s exports cheaper and help revive economic growth. Growth data for the first financial quarter to June, due later Friday, would be broadly unchanged from the previous quarter’s 4.8 percent, he said, but the economy would accelerate in the second half. “Growth will pick up in the second half barring extreme unforeseen eventualities,” he said, adding the strong annual monsoon would boost harvests and help reduce food inflation. “The stabilisation process which should support the value of the rupee is underway… the currency markets will recover,” he added. Foreign exchange markets have a “notorious history of overshooting, this is what is happening in relation to the rupee,” he said, adding, it is important to recognise that “the fundamentals of the Indian economy continue to be strong.” After his speech, the rupee was trading at 66.64 to the dollar; down from its day’s low of 67.80 rupees and still comfortably stronger than the record near 69 rupees it touched on Wednesday.       Continue reading

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