The Syrian government released Tuesday a total of 1,180 prisoners arrested during the eight-month- long unrest who didn't commit homicide crimes, the state-run SANA news agency reported.
Earlier this month, Syria released 553 prisoners on the occasion of the Muslim's Eid al-Adha holiday.
The private al-Watan newspaper said Tuesday that Syrian authorities released on Monday hundreds of Syrian prisoners who were arrested during the unrest in the country.
Activists said thousands of people have been detained during the eight-month-old unrest in Syria.
Protesters in Syria demanded the release of those arrested during the crisis which is also part of a peace plan reached between the Syrian government and the Arab League, aiming at bringing an end to the Syrian political crisis.
Meanwhile, the Britain-based Syrian Observatory for Human rights said a total of 34 soldiers were killed in an ambush in the southern province of Daraa by armed men believed to be army defectors.
Al-Watan said Tuesday that statistics of the National Hospital in the central province of Homs showed that 3,230 civilians and military personnel had been killed or injured by armed gangs in the province since the eruption of unrest in the country in mid March.
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U.S. stocks tumbled on Wednesday as huge sell-off was triggered by fears about the Italian debt crisis. All major indices shed more than 3 percent on Wednesday's close.
Although the news that Italian Prime Minister Silvio Berlusconi will resign after his government's new austerity budget is passed helped support the markets on Tuesday, the optimism had quickly gone as investors feared the uncertain Italian future.
The yield of Italian 10-year government bonds has surged to pass the critical 7 percent mark, which was widely seen as unsustainable. It is also reported that the European Central Bank began to buy Italian bonds in an effort to avert crisis for Italy and the eurozone.
Meanwhile, European Union officials said they have no plans in place for a financial bailout of Italy, raising doubts that Italy could avert deepening debt crisis on its own.
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In Greece, talks about forming new government fell apart between the country's two major political parties, raising doubt about whether the country will be able to receive the next bailout fund it needs to avoid default.
The fear over Italy and eurozone triggered huge sell-off in stock market on Wednesday as Dow Jones Industrial Average shed more than 400 points in afternoon trading session. The CBOE Volatility Index, which is widely considered the best gauge of fear in the market, surged to above 36.
Amid all the uncertainties in Italy, China's October economic data came as a relief. The country's Consumer Price Index slowed by the most in almost three years to an annualized 5.5 percent in October from 6.1 percent in September.
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The figure eased investors' concerns about China's inflation and also raised expectations of further easing monetary policy that will stimulate the economic growth.
On other economic data, U.S. wholesale inventories fell in September for the first time since late 2009, according to the U.S. Commerce Department.
And the Mortgage Bankers Association reported that weekly mortgage applications jumped last week, suggesting that U.S. home buying demand might recover.
On other markets, the dollar surged as investors' confidence on the euro collapsed. The oil price also declined on European worries, though the Energy Information Agency reported that U.S. crude inventory dropped last week.
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Police in the U.S. city of New York cleared up Zuccotti Park early Tuesday after Occupy Wall Street protesters encamped for two months and arrested around 200 protesters for resisting orders.
As early as 1 a.m. Tuesday morning, New York City police descended on Zuccotti Park to clear tents and inhabitants there, followed by sanitation workers to clean the debris of the park.
New York Police Commissioner Ray Kelly said that about 200 protesters were arrested - 142 in the park, and 50 to 60 in surrounding areas. Most were held on charges of disorderly conduct and resisting arrest.
I have become increasingly concerned - as had the park's owner, Brookfield Properties - that the occupation was coming to pose a health and fire safety hazard to the protesters and to the surrounding community. We have been in constant contact with Brookfield and yesterday they requested that the city assist it in enforcing the no sleeping and camping rules in the park, said New York Mayor Michael Bloomberg at a news conference.
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He said that the park was becoming a place where people came not to protest, but rather to break laws, and in some cases, to harm others, adding that protesters have had two months to occupy the park with tents and sleeping bags. Now they will have to occupy the space with the power of their arguments.
Bloomberg also noted that protesters and the general public are welcome back to the park to exercise their First Amendment rights once the park cleaning is done, but will not be allowed to use tents, sleeping bags, or tarps and must follow all park rules.
Meanwhile, a New York judge issued a temporary restraining order on Tuesday morning preventing the owners of Zuccotti Park from enforcing rules about occupying its public space, or from preventing protesters from re-entering the park with tents. The city authorities have not responded to it yet.
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As police closed the park, Occupy Wall Street protesters, flanked by lines of police who kept them on the sidewalk, continued to march south of the city, singing We Shall Overcome.
A protester who only gave his name as Matthew told TingVoa.com that they will hold meetings in the afternoon to plot the next move. This will not stop us. It is not an end, but a new beginning, he said.
Since Sept. 17, protesters had been camping out in Zuccotti Park, located in the city's financial district, to rally against economic inequality. Local residents and small business owners had expressed repeated concerns that the encampment was interfering with businesses in the area, and that conditions in the park were becoming increasingly unsanitary.
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Syrian Foreign Ministry said Tuesday that Syria will neither take part in the 4th session of the Arab-Turkish Forum nor the Arab League (AL) ministerial meetings scheduled to convene in the Moroccan capital of Rabat Wednesday.
The foreign ministry said in a statement that Syrian authorities have decided not to take part in the AL ministerial meeting after they received statements issued by Moroccan officials.
However, the ministry did not spell details on Morocco's statements.
An emergency meeting of AL foreign ministers is scheduled to convene Wednesday in Rabat to discuss measures they approved in Egypt's capital of Cairo earlier in the week following the AL decision to suspend Syria's membership in the pan-Arab body.
The meeting will take place on the sidelines of an Arab-Turkish cooperation forum attended by Turkey's Foreign Minister Ahmet Davutoglu.
On Saturday, the AL unanimously decided to suspend Syria's membership for allegedly failure to end a deadly crackdown on protesters, contrary to the Arab plan reached recently between Syrian government and the Arab ministerial committee. The suspension will go into effect as of Wednesday.
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European Council President Herman Van Rompuy called for an economic union along with the monetary union on Tuesday.
The eurozone has to move towards a real economic union commensurate with the monetary union, he said when addressing 2011 Euro Summit held by the Lisbon Council, a Brussels-based think tank.
We have to fight for this 'European Model,' our Economic and Monetary Union, our wealth, social security and Europe's place in the world, he said.
He also disclosed that he was embarking on a new set of ideas on how to deepen the economic union, which might require a combination of two things, a significant strengthening of the rules and mechanisms for fiscal responsibility and a large step in integration of economic policies.
After putting out the fire of debt crisis, the more important task, according to Van Rompuy, would be to strike a balance between austerity measures and stimulus, between competitiveness and social inclusion.
He reiterated that slow economic growth in eurozone should be attributed to credit restraint and lack of confidence, instead of fiscal consolidation.
Overall deficit spending can therefore not be the answer to the current situation, he said.
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The Syrian opposition said Tuesday they wouldn't negotiate with President Bashar al-Assad and want U.N. peacekeepers sent to their country to protect civilians.
The opposition is not going to hold any preliminary or preparative talks with the regime in Damascus, Burhan Ghalyoun, chairman of the Syrian National Council (SNC), told reporters during a visit to Moscow.
He added that the opposition has asked the international community, including Russia, to press Assad to step down.
Meanwhile, Ghalyoun said the SNC is still looking for a peaceful resolution to the Syrian crisis.
Ghalyoun said the SNC calls for the presence of U.N. peacekeepers in their country for protecting civilians, which, he said, is not military intervention.
Early on Tuesday, the SNC delegation led by Ghalyoun held talks with Russsian Foreign Minister Sergei Lavrov and his deputy Mikhail Bogdanov.
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The European Union (EU) unveiled Tuesday proposals to toughen regulations on credit rating agencies (CRAs) to prevent them from increasing market volatility further.
Ratings have a direct impact on the markets and the wider economy and thus on the prosperity of European citizens. We can't let ratings increase market volatility further, said Michel Barnier, European Commissioner for Internal Market and Services.
Though the most controversial proposal, which suggests the credit rating of a country can be suspended in exceptional circumstances, had to be postponed due to strong opposition from some EU member states and CRAs, Barnier said the EU had put forward plans to toughen the regulatory framework for CRAs.
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Speaking at a press conference following an EU meeting, Barnier said the proposals were designed to reduce the over-reliance on ratings and improve the quality of the rating process.
The proposals, which need to be approved by the European Parliament and each EU member states, have outlined a general obligation for investors to do their own risk assessment.
Credit rating agencies should follow stricter rules, be more transparent about their ratings and be held accountable for their mistakes. I also want to see increased competition in this sector, Barnier told reporters.
The proposals require CRAs to disclose more and better information underlying the rating decisions so that investors would be better informed to make their own judgments.
CRAs would also have to consult rating decision issuers and investors on any intended changes to their rating methodologies, and such changes would have to be communicated to the European Securities and Markets Authority (ESMA) which would check the legitimacy of the move.
The reform package came as the most aggressive effort by the EU to rein in an industry that some European leaders have blamed for exacerbating the sovereign debt crisis with subjective rating decisions.
Greece, Ireland and Portugal all suffered downgrades that sharply pushed up their bond yields over the past two years, before asking for international bailouts.
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To mitigate the impact of each rating, it is proposed that EU member states would be rated more frequently, from the current every 12 months to every six months, and investors and member countries would be informed of the underlying facts on each rating.
Under the proposals, sovereign ratings should only be published after the close of business and at least one hour before the opening of share markets in the EU to avoid market disruption.
Days after an erroneous downgrade of France by Standard & Poor's who cited technical errors, the EU proposals also made CRAs more accountable for the ratings they provide.
A CRA should be liable in case it infringes, intentionally or with gross negligence, the CRA Regulation of the EU, thereby causing damage to an investor having relied on the rating that followed such infringement, said one proposal.
Investors suffering losses under this circumstance should bring their civil liability claims before national courts, and the burden of proof would be borne by the CRA, according to the proposal.
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The European Parliament has adopted new legislation to better regulate short selling and credit default swaps (CDS), financial instruments thought to have fuelled further market volatility during the debt crisis.
The new rules aim to increase transparency in financial transactions, boost the powers of the European Securities and Markets Authority (ESMA), and ban certain CDS trades. CDS are financial products that insure against a default on a bond.
The legislation, adopted on Tuesday in Strasbourg, completely bans naked CDS trading, that is purchasing default insurance contracts without owning the related bonds.
Hence, it is no longer possible for hedge funds to buy Greek or Italian CDS without already owning the bonds of those countries. This is to curb speculation on a country defaulting.
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While the ban on naked CDS is not expected to solve the fiscal problems of Europe, it will nevertheless put a stop to a practice that has been known for exacerbating an already difficult market situation, such as potentially aggravating Greece's troubles.
When you face such a situation, you can choose to add fuel to the fire or put water on it. These instruments should not be used as a speculative tool anymore, said French Greens MEP Pascal Canfin.
Less satisfying results were achieved on short selling. The European Parliament was pushing for naked short sales to no longer be possible for more than one day. However, its propositions proved to ambitious for EU member states.
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Short selling is the practice of selling borrowed shares and buying them back to return them when their price has fallen with the trader pocketing the difference. Naked short selling involves gambling on shares traders are not sure yet they will be able to borrow. It is now up to the ESMA to restrict this practice.
In addition, reporting requirements on financial trading have been intensified. Supervisors have to be informed of large short positions when this position accounts for 0.5 percent of the issued capital.
Furthermore, the ESMA will be given more powers, being able to act as an arbiter if a national authority wishes to introduce measures to address exceptional situations. It can also require authorities to introduce exceptional measures.
The new regulations must be formally approved by the European Council in the coming weeks, and will come into force in November next year.
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NBA commissioner David Stern announced Monday that the first two weeks of the 2011-2012 regular season will be canceled after failing to reach a new labor deal.
Despite extensive efforts, we have not been able to reach a new agreement with the players' union that allows all 30 teams to be able to compete for a championship while fairly compensating our players, the NBA said in a statement.
Stern said he is canceling all scheduled regular season games through November 14 after several hours of meetings on Monday in effort to reach the deal.
The two sides are not even close on key issues, according to Stern. We just have a gulf that separates us, he said.
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NBA lockout prolongs as players rejected owners' revised proposal on Monday.
The decision likely jeopardizes the season as the NBA Players Association rejected the owners' latest offer and have launched the process to disband their union.
A key sticking point remains the division of some 4 billion dollar in annual revenue.
Players received 57 percent of basketball-related income under their previous contract, but have said they would be willing to drop that to 52.5 percent.
NBA commissioner David Stern had previously warned if the current offer is rejected, the owners would come back with an even harsher one.
But in order for the NBA to have a 72-game season, Stern admitted the two sides would likely have to come to terms on a new collective bargaining agreement within the next week.
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Stern had said if the latest offer was rejected and there was another bargaining meeting, it would be based on a 53-47 split of revenues in the owners' favor, a flexible salary cap with a hard ceiling and salary rollbacks.
The players feel they're not prepared to accept any ultimatum, said the executive director of the players union, Billy Hunter, calling the offer extremely unfair on the part of the NBA management.
Players had had the option to accept the offer, which proposed a shortened 72-game schedule beginning December 15 to end a months- long lockout, or take it to a vote and turn it down altogether.
Players' representatives said they were prepared to dissolve the union and file an antitrust lawsuit against the league over the lockout, which has lasted for more than four months.
The league has already wiped out all of the games scheduled in November in a campaign that was to have started November 1.
Hunter says players were not prepared to accept the Stern's ultimatum, saying they thought it was extremely unfair.
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The European Union (EU) on Monday reinforced its sanctions against Syria in view of the gravity of the situation there.
According to the conclusions adopted here on Monday by the foreign ministers of the 27-member bloc, 18 more persons responsible for human rights violations were added to the list of those targeted by an asset freeze and travel ban.
This decision brings the total number of persons subject to the measures to 74. At the same time, 19 entities remain covered by a freeze of their assets in the EU.
In addition, the EU prohibited disbursements by the European Investment Bank (EIB) in connection with existing loan agreements between Syria and the bank. It also stopped the continuation of EIB technical assistance contracts for sovereign projects in Syria.
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In May 2011, the EIB had already been invited by the Council to suspend new financing operations in the country.
In its conclusions, the EU welcomed the efforts of the Arab League (AL) to end violence and bring about democratic transition in Syria.
The European Union salutes and fully supports the decisions taken by the Arab League meeting on 12 November, which show the increasing isolation of the Syrian regime, it said, referring to the AL decision on Saturday to suspend the Syrian delegation's activities in the pan-Arab body.
EU foreign policy chief Catherine Ashton said at a press conference following the meeting that the EU would continue to press for strong UN action to increase pressure on Syria.
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The chairman of the Arab League (AL) Nabil al-Arabi said Monday that the pan-Arab body is preparing to send a 500-member delegation to Syria to protect civilians there.
The delegation will include representatives of Arab human rights organizations, media and military observers, said Arabi, who chaired a meeting Monday of different Arab groups on a mechanism to protect Syrian civilians.
However, he said a memorandum must be signed with Syrian government before the delegation is sent. Nobody from any Arab organization aimed at protecting civilians will be sent to Syria unless a clear memorandum is signed with Syrian government to specify each party's duties and rights.
The delegation's visit will be discussed at the next Arab foreign ministers' meeting to be held in Morocco on Wednesday.
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Arabi also talked with a delegation of the opposition Syrian National Council (SNC) on Monday, Egypt's official MENA news agency said.
The delegation rejected any talks with Syrian government and described the dialogues as useless, the report said.
Basma Qadmani, spokesperson of the group, said the Arab foreign ministers' decision to suspend Syrian activities in the pan-Arab organization raised the morale of peoples and protestors.
She said the SNC will cooperate with the AL to set a timetable for an opposition conference to be held in Egypt's capital of Cairo soon, adding that the opposition groups inside Syria will be invited if they agree on a peaceful map for change in Syria and toppling the government.
Arabi's meeting with the Syrian opposition group was held upon an Arab decision on Saturday to invite all the Syrian opposition parties for a meeting at the AL headquarters to reach one vision for the transition period in Syria.
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Syrian Foreign Minister Walid al-Moallem said Monday that the AL decision to suspend Syria's membership is an illegal and very dangerous step concerning the present and future common Arab action.
Moallem said his country was still committed to the provisions of the AL, adding that the suspension of Syria's membership was a premeditated plan. However, the minister made it clear that Syria still welcomes a planned visit to the country by an Arab delegation and has proposed convening an emergency Arab summit.
On Nov. 2, Syria accepted a peace plan of the AL in order to end the months-long violence. But the AL gave Syria more pressure on Saturday by suspending its membership from Nov. 16 and considering sanctions due to continued violence in the country.
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The Syrian crisis has entered its eighth month with no foreseeable solution. Some countries, including the Arabs, are turning the screws on the Syrian government, but still unable to chip it away.
The Syrian crisis that erupted in mid-March is going through accelerated developments and facing big challenges, the most dangerous of which is the looming risk of internationalizing the Syrian crisis and legitimizing a foreign military intervention.
In a first outspoken stand by an Arab country so far, Jordanian King Abdullah II has frankly said that If (Syrian President) Bashar (Al-Assad) had an interest in his country he would step down.
I believe, if I were in his shoes, I would step down, King Abdullah II told BBC World News in an exclusive interview published Monday.
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On Saturday, the Arab League (AL) unanimously decided to suspend Syria's membership in the organization for its alleged failure to end a deadly crackdown on civilian protesters, contrary to the Arab plan reached recently between the Syrian government and an Arab ministerial committee. The suspension will go into effect as of Wednesday.
Following the vitriolic attack made by the Syrian representative at the AL against some of the organization's members voting in favor of the decision, as well as the assaults on some Arab embassies in Syria by angry pro-government Syrians, it seems that Syria has opted in favor of keeping the crisis in the halls of the AL.
Syrian Foreign Minister Walid al-Moallem said Monday that his country welcomes any Arab effort to solve the crisis, stressing that Damascus has a strong resolve to implement the peace plan reached on Nov. 2 with the AL.
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In what he described as the last-ditch attempt to preserve a joint Arab action and to show Syria's keenness to remain in the Arabs' fold, Moallem called for an emergency Arab summit to handle the Syrian crisis.
He said that his country is still welcoming a previously- planned trip to Syria by an Arab committee to verify what is happening on the ground.
The call for an Arab summit aims primarily to avoid the internationalization of the Syrian crisis and shun aside any potential foreign intervention, amid uncertainty that the Arab plan is purportedly paving the way for a foreign intervention, coupled with mounting fears that Turkey might poke its nose once again in the Syrian crisis.
Syria is squeezed by the deadline of Nov. 16 set by the AL to put in force its decision to suspend the country's membership, in addition to a considerable apprehension that Turkey might carry out its threats to impose a buffer zone on its borders with Syria.
In yet another indication of his government's intention to reach a solution, Moallem has even called on all the opposition figures, including those outside Syria, to get engaged in a national dialogue, a step that was unthinkable by the Syrian government till recently.
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The Russian Foreign Minister Sergei Lavrov said that his country is ready to assist the conflicting parties in Syria's political crisis to start a dialogue aimed at reconciliation between the two sides.
He expressed regret that some opposition figures are still rejecting proposals to hold talks with the Syrian authorities. We are trying to convince the opposition to adopt a more constructive approach and to show more keenness about their country's safety and interests, he said.
A delegation from the newly-formed Syrian National Council held a meeting with the Turkish foreign minister and reportedly agreed on a buffer zone to protect civilians.
Foreign reports claimed that 3,500 Syrians have been killed since March and international cries are increasing that Syrian people are in an urgent need of international protection.
The AL chief Nabil al-Arabi said recently in Tripoli that what is demanded from the Arab League now is to ensure a mechanism to protect (Syrian) civilians without giving any further clarifications.
He also announced that representatives from the AL would meet a Syrian opposition delegation on Tuesday.
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Internationally, pressures are increasing on the Syrian government and Western diplomatic sources have reportedly said that the European Union are likely to issue a decision soon to withdraw Western ambassadors from Syria, pointing out that Europe' s behavior could not be less than that of the Arab states.
A number of Arab states are also mulling bringing back their ambassadors.
Turkey has summoned all its nationals following Saturday's attacks on some embassies in Damascus by pro-government Syrians to express anger over the AL decision, and has vowed to undertake a tougher measure against Damascus.
Moallem has apologized for the attacks, but it remains unclear to what extent his apology would soothe their concerns. It is also uncertain yet whether Damascus would meet the ultimatum given by the AL and avoid unpredictable developments.
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Chinese President Hu Jintao left Honolulu, Hawaii, on Monday after attending the Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).
During his stay in Honolulu, Hu attended the Economic Leaders' Meeting, delivered a keynote speech at the APEC CEO summit, joined other APEC leaders in dialogues with the APEC Business Advisory Council, and had a series of bilateral meetings with leaders of other APEC members.
At the APEC meeting, Hu and leaders of other APEC members discussed a wide range of issues, such as regional economic integration, trade and investment, green growth, and regulatory cooperation.
On Sunday, Hu made a speech at the Economic Leaders' Meeting, calling for a shift in growth model to sustain economic development.
In his speech, Hu said, at the recent G20 summit in Cannes, France, leaders agreed that under the current situation, we must continue to embrace a spirit of helping each other in times of difficulty and
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pursuing win-win cooperation.
We must be firmly committed to maintaining growth and promoting stability. It is of particular importance to strive for strong growth, he said.
Our goal is to achieve sustained, steady and fairly fast economic growth, and social harmony and stability in our region, Hu said.
To meet this goal, President Hu made the following proposals:
-- to step up coordination to improve global economic governance;
-- to make unremitting efforts to speed up the shift of growth model;
-- to build consensus and continue to promote economic globalization and regional economic integration.
At the APEC CEO summit on Saturday, the Chinese leader delivered a keynote speech entitled Work Together to Shape the Future.
Hu exchanged views with the delegates under the theme The future. Redefined. at the summit, which focused on advancing trade and economic policy and partnerships for the future of the APEC region.
Under the current circumstances, we must be firmly committed to maintaining growth and promoting stability, with a special emphasis on ensuring strong growth in order to add momentum to the economic development in the Asia-Pacific and beyond, he said in his speech.
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The Chinese leader called for improving the mechanism for global economic governance, achieving green and innovative growth, upholding the multilateral trading regime and deepening regional economic integration.
He also appealed for strengthening public-private partnership and jointly promoting world economic growth and business cooperation.
On the sidelines of the APEC meeting, the Chinese leader met U.S. President Barack Obama, Japanese Prime Minister Yoshihiko Noda, Vietnamese President Truong Tan Sang, Peruvian President Ollanta Humala Tasso and Canadian Prime Minister Stephen Harper, on bilateral issues of common concern.
During the meeting between Hu and Obama, the two leaders agreed to make joint efforts to build a cooperative partnership based on mutual respect and mutual benefit.
$84.14 (10/29/11)
