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Signs of the Times for Wed, 22 Mar 2006

Reuters
Tue Mar 21, 2:31 PM ET
PARIS - French Prime Minister Dominique de Villepin said on Tuesday there could be flexibility over a key element of a controversial youth job law by cutting the length of a trial period from 2 years.

"Social partners have the complete freedom to reduce this (trial) period in those sectors where it would be most relevant," he said in the text of a speech to deputies of his ruling UMP party.

Under the law employers can fire people under 26 at any time during a two-year trial period without giving a reason but hundreds of thousands of people have taken to the streets to protest, saying the law would increase job insecurity.


Middle East Forex
Wednesday, March 22, 2006
WASHINGTON - A number of Middle Eastern central banks said on Tuesday they would seek to switch reserves from the US greenback to euros.

The United Arab Emirates said it was considering moving one-tenth of its dollar reserves to the euro, while the governor of the Saudi Arabian central bank condemned the decision by the United States to force Dubai Ports World to transfer its ownership to a 'US entity,' the UK Independent reported.

"Is it protectionism or discrimination? Is it okay for US companies to buy everywhere but it is not okay for other companies to buy the US?" said Hamad Saud Al Sayyari, the governor of the Saudi Arabian monetary authority.

The head of the United Arab Emirates central bank, Sultan Nasser Al Suweidi, said the bank was considering converting 10 per cent of its reserves from dollars to euros.

"They are contravening their own principles," said Al Suweidi. "Investors are going to take this into consideration (and) will look at investment opportunities through new binoculars."

The Commercial Bank of Syria has already switched the state's foreign currency transactions from dollars to euros, Duraid Durgham head of the state-owned bank said. The decision by the bank of Syria follows the announcement by the White House calling on all US financial institutions to end correspondent accounts with Syria due to money-laundering concerns.

Syria's Finance Minister Mohammad Al Hussein said: "Syria affirms that this decision and its timing are fundamentally political."-Khaleej Times Online



22/03/2006
IOL News
The Basque separatist group Eta today announced a permanent cease-fire.

It apparently brings a dramatic end to nearly four decades of violence in Spain that claimed more than 800 lives, Basque TV reported.

The authenticity of the announcement could not immediately be verified, but Eta often uses local Basque media outlets to issue statements.

The group said the cease-fire would start on Friday, and that it would be "permanent".


Declan Walsh in Peshawar
Tuesday March 21, 2006
The Guardian
A powerful new militia dubbed "the Pakistani Taliban" has effectively seized control of swaths of the country's northern tribal areas in recent months, triggering alarm in Islamabad and marking a big setback in America's "war on terror".

Click to Expand Article

By JORGE RUEDA
Associated Press
20 Mar 06
CARACAS, Venezuela (AP) -- Venezuela agreed Monday to sell fuel under preferential terms to an El Salvador association created by a group of leftist mayors.

Details of the amount of fuel that will be sold to the Intermunicipal Energy Association for El Salvador were not immediately available but shipments were to begin "as soon as possible," said Violeta Menjivar, mayor-elect of San Salvador.

Click to Expand Article

Prensa Latina
20 Mar 06
Caracas, Venezuela ratified this Monday its deportation demand from the US of Cuban-born terrorist Luis Posada Carriles, mastermind of the mid-air explosion of a Cubana airplane with 73 passengers in 1976.

Click to Expand Article

IrelandOnLine
18 Mar 06
Sinn Féin leader Gerry Adams was detained at a Washington airport yesterday after attending a meeting of Irish leaders with US President George Bush, causing him to miss a scheduled St. Patrick's Day appearance in Buffalo, a congressman said.

Adams' name, and that of a travelling companion, appeared on a terror watch list at Reagan National Airport, triggering a lengthy inspection, said Congressman Brian Higgins, a New York Democrat who had invited Adams to speak at the Buffalo Irish Centre.

Click to Expand Article

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