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Posts Tagged ‘seals’

Prince William seals engagement with Diana’s ring

In Uncategorized on November 17, 2010 at 8:31 am

Europe seals historic rescue deal for Greece

In Uncategorized on March 26, 2010 at 4:38 am

European leaders have clinched a deal that re-writes the 11-year-old eurozone’s rule-book, with loans, backed by the IMF and under strict conditions, primed for miscreants like Greece.

Governments seeking to re-boot the euro’s value also acted to stave off a repeat of the chaos unleashed on currency and sovereign bond markets by jaw-dropping debts already engulfing the likes of Portugal, Ireland and Spain.

After months spent warily sizing up the threat, and weeks of tension that commentators said represented the European Union‘s worst political crisis in a generation, France and Germany finally brokered agreement late on Thursday.

Europe and Greece will emerge stronger from this crisis,” said Greek Prime Minister George Papandreou after President Nicolas Sarkozy and Chancellor Angela Merkel paved the way in tense Brussels talks.

Afterwards, EU president Herman Van Rompuy said all 16 eurozone nations had committed to “participate” should the button be pressed on bilateral loans described as a “last resort” if normal market credit were to dry up.

Despite the unprecedented nature of the move and its lasting repercussions, Van Rompuy stressed that the aim was to “reassure all holders of Greek bonds” that Europe “will never abandon Greece.”

Asked if Portugal might be the next country to need or come looking for assistance, Van Rompuy said its situation was “completely different” from that in Greece, where “statistical fraud” had turned a drama into a crisis.

While the International Monetary Fund has in the past helped EU countries Hungary, Latvia and Romania, it has never been involved in planning a financial rescue for a eurozone nation.

EU budget rule fight is a re-run of 14-year-old row

The head of the European Central Bank, Jean-Claude Trichet, had warned beforehand that “all signs of a lack of responsibility” for the eurozone were “obviously very, very bad.”

Afterwards, he said he was “pleased” that a solution had been found, but when asked if IMF conditions imposed on Greek territory could compromise ECB policy-making, he insisted that “the independence of the central bank is sacrosanct.”

The decision to bring in the Washington-based lender of last resort, on a minority basis, came after bloated Athens debts dragged the euro’s value to a 10-month low.

The euro fell again In New York, after the deal emerged, dropping to 1.3277 dollars at around 2200 GMT from 1.3315 dollars a day earlier.

“Investors are not satisfied” with the EU deal, said Kathy Lien, director of currency research at Global Forex Trading.

In the other departure, the agreement also envisages new sanctions being brought against wayward eurozone spenders in future.

A new task force drawn from the full, 27-member EU will be given until the end of 2010 to draw up recommendations, Van Rompuy said.

However, an accord between Sarkozy and Merkel to develop coordinated European economic “government,” a demand from Paris that survived the cut in a French-language declaration, was watered down to “governance” in the English version, considered less likely to offend British sensibilities.

On the other hand, there was no reference to Merkel’s conviction, expressed during the Sarkozy tete-a-tete, that a “modification” to EU treaty provisions would be required — something that is equally vehemently opposed by Britain.

For loans to be activated, all eurozone members must agree — although a top European official admitted contributions will effectively be voluntary.

Traders hedge for profit, dodge blame

No sums have been advanced, but diplomats have consistently spoken over recent weeks of figures upwards of 20 billion euros (26.5 billion dollars).

Greece has been labouring under a 300-billion-euro debt black hole with the highest annual deficit in the EU last year, alongside Britain.

Athens has been paying interest rates above six percent for loans, and wanted to find better terms with tens of billions of euros required to repay maturing Greek debt over the next couple of months.

Source: SGGP

Meireles seals World Cup qualification for Portugal

In Vietnam Sports on November 20, 2009 at 8:34 am

ZENICA, Bosnia-Hercegovina, Nov 18, 2009 (AFP) – A second-half strike by Raul Meireles was enough to break Bosnian hearts and send 2006 semi-finalists Portugal through to the World Cup finals on Wednesday.

The Portuguese, once again without the injured Cristiano Ronaldo, had won a hard-fought first leg 1-0 courtesy of a close-range header by Bruno Alves on Saturday and again had to be on their mettle before Meireles’ effort ensured their place at next summer’s showpiece in South Africa.

Portugal’s Pepe (C) and Tiago (R) vies with Bosnia’s Zlatan Muslimovic (L) during their WC2010 play-off football match at Bilino Polje Stadium in Zenica on November 18, 2009. AFP PHOTO

Despite enjoying the lion’s share of possession in the opening period on a heavy pitch the Boisnians failed to carve out any clear chances as the Portuguese sat back hoping to catch their hosts on the counter in their European zone play-off second leg.

Portuguese coach Carlos Queiroz, whose team limped through the first half of their qualifying programme prior to a late rally, had insisted his team plays better away than at home.

And ten minutes after the restart Meireles ensured there would be no shredded nerves for the visitors as he took a pass from Manchester United star Nani and slipped a low, precise shot past Kenan Hasagic in the Bosnian goal.

“These marathons are only over after the final whistle and I want to thank my players for showing such spirit,” said a relieved Queiroz afterwards.

Meireles saluted the team’s attitude.

“Our play and our attitude were the most important things out there. The pitch was cutting up badly and it was not always possible to play well – but we won, we are through and we are happy. We always believed in ourselves,” Meireles insisted.

Bosnian dangerman Edin Dzeko, whose goals had been instrumental in taking his country this far, was getting little change out of the Portuguese defence and was chiefly in evidence following the goal for getting himself booked.

Minutes earlier Nani himself had come close to breaking the deadlock at the Bilino Polje Stadium but Hasagic blocked well with his legs.

Zlatan Muslimovic tried valiantly to rouse the Bosnians, who enjoyed a late run to land runners-up spot in Spain’s group, edging out Turkey and Belgium, but his probing runs produced no end product.

Portugal sent Edinho on for Nani with 18 minutes remaining after Meireles had first sent an effort skidding just wide before Vedad Ibisevic appealed in vain for a penalty at the other end after tangling with Paulo Ferreira.

Almost immediately, the hosts then found themselves down to ten men as midfielder Sejad Salihovic was dismissed.

The red card brought fury on the terraces and the match briefly came to a halt with one of the linesmen appearing to have been struck by an object thrown from the crowd.

Veteran coach Miroslav Blazevic, who memorably led neighbouring Croatia to third place in the 1998 finals, urged his men on for a final push, Miralem Pjanic scuffing a final chance, but the Portuguese, who introduced Deco for Simao for the closing 11 minutes, held firm.

Source: SGGP Bookmark & Share

Cambodia seals rice export deal in Senegal

In Uncategorized on November 11, 2008 at 2:29 am

Phnom Penh (VNA) – Cambodia has signed an agreement to sell 120,000 tonnes of rice to Senegal in 2009 – the first time it has exported rice to Africa since the 1960s, the Phnom Penh Post reported on November 10.

“Africa is a potential market for Cambodian rice as it demands a lower quality product than Western countries,” President of the National Rice Millers Association of Cambodia (NRMAC) Tes Ethda was cited as saying.

According to the agency, which represents nine rice-producing provinces, Cambodia has reached an agreement to supply Senegal with 10,000 tonnes of rice each month for a period of one year, although the country is currently inspecting samples of the rice. Exports are expected to begin next year, Tes Ethda said.

The UN Development Programme, a number of Francophone countries, the international trade centre and the Ministry of Commerce are all encouraging NRMAC to export rice.

Cambodia’s Commerce Ministry said that Senegal needs to import approximately 900,000 tonnes of rice a year because domestic production meets less than a third of demand.

Cambodia is likely to achieve its rice production goal of 7 million tonnes by year’s end, a slight increase from the 6.7 million tonnes reported last year. The Asian country expects to have a surplus of 2.6 million tonnes of rice this year, up from about two million tonnes in 2007, according to the Ministry of Agriculture.-