Washington, D.C., United States (AHN) – The visiting Canadian leader and the American president on Wednesday remained noncommittal on a controversial oil pipeline linking the two countries but signed a border deal.

Addressing a joint press conference at the White House, with Canada’s Prime Minister Stephen Harper, U.S. President Barack Obama said, “With respect to the politics, look, this is a big project with big consequences.”

Asking for a assessment for environmental impact, Obama said, “We’ve seen Democrats and Republicans express concerns about it. And it is my job as president of the United States to make sure that a process is followed that examines all the options.”

Harper, on the other hand refused to be drawn into any controversy saying, “You can appreciate that I would not comment on the domestic politics of this issue or any other issue here in the United States.”

Harper added that Obama had an “open mind” on the project, but wanted a full assessment carried out. “He’s indicated to me, as he’s indicated to you today, that he is following a proper (process) to eventually take that decision here in the United States, and that he has an open mind in regards to what the final decision may or may not be,” Canadian leader said about the 1,600-mile pipeline that would run from Canada to the Texas coast.

“My position, the position of the government of Canada on this issue, is very well known,” said Harper, hinting at his backing for the Keystone XL plan, which is projected to create jobs in the U.S. and in Canada and to enable oil from the Canadian province of Alberta to reach the world market.

The two leaders announced signing of a trade deal and perimeter security agreement, which would allow easier access to ports and increase harmonization of security checks and procedures at land borders.

“Together, they represent the most significant steps forward in Canada-U.S. cooperation since the North American Free Trade Agreement,” Harper said.

View full post on Trade Agreements Stories

Related posts:

1. Iran, North Korea cloud Obama, Lee interaction with press
2. President Barack Obama Says “It Gets Better” In New Anti-Bullying Video
3. President Obama departs for vacation in Hawaii

Washington, D.C., United States (AHN) – The United States encouraged the participating nations of the South Asian Association for Regional Cooperation, also known as SAARC, but Washington had no intentions to increase its own involvement with the association according to one of the top U.S. diplomats.

Addressing journalists at a special briefing at the State Department, Robert Blake, Assistant Secretary, Bureau of South and Central Asian Affairs said, “We’re an observer country and we welcome that role, but we’re not seeking to enhance our role in any way.”

Assistant Secretary Blake returned from a trip to the Maldives as head of the U.S. observer delegation to the 17th Summit of the SAARC which has eight member nations and nine observers.

The U.S., however, urged the participating South Asian nations to not only cement ties among themselves but also to enlarge cooperation with Central Asian countries to accelerate the building of a New Silk Road.

Assistant Secretary Blake said, “I explained our support for greater regional integration not only within South Asia, but between South and Central Asia and Secretary Clinton’s vision of a New Silk Road linking the economies of South and Central Asia in a web of trade, transit, and energy connections.”

“The SAARC states hope to implement a South Asia free trade agreement by 2016, and there was some progress that was announced during the recent summit,” said Blake, lamenting the fact that the SAARC members were “not ready to endorse proposals to move up the date for SAFTA implementation.”

The SAARC leaders agreed “to finalize a regional railways agreement in the next year and to create an Indian Ocean cargo and ferry service by 2012,” said Assistant Secretary Blake.

The U.S. has enjoyed observer nation status since 2007 in SAARC, which groups Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Sri Lanka and Pakistan.

View full post on Trade Agreements Stories

Related posts:

1. U.S. signs antitrust cooperation agreement with Chile
2. U.S. signs antitrust cooperation agreement with Chile
3. World Bank: slow growth in developed nations, rapid growth in developing nations

Moscow, Russian Federation (AHN) – In an attempt to boost economic ties with Community of Independent States (CIS) nations, Russia on Tuesday inked free-trade agreements with Ukraine, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova and Tajikistan.

The announcement, which came after talks in St Petersburg, said that the agreement would cancel import-export duties on a number of goods without revealing the type of goods.

Other three former Soviet Republic states – Uzbekistan, Azerbaijan and Turkmenistan – are likely to join the trade deal by yearend.

The parliaments of these eight countries need to ratify the agreement before it becomes effective in 2012.

While Russian Prime Minister Vladimir Putin described the move as more competitive, analysts believe that it was particularly aimed at attracting pro-Russian Ukraine President Viktor Yanukovych, who had previously sought trade ties with the 27-nation EU bloc. Putin admitted that the much-awaited deal with Ukraine is significant to his country.

The Yanukovych government sent Ukraine’s ex-premier Yulia Tymoshenko to seven years imprisonment for misusing her powers over a 2009 gas deal, a development described by the EU as politically motivated.

View full post on Trade Agreements Stories

Related posts:

1. EU’s new energy policy upsets Russia
2. Obama, Harper stay apart on pipeline issue, ink other agreements
3. U.S. signs antitrust cooperation agreement with Chile

Washington, D.C., United States (AHN) – President Barack Obama on Thursday shelved his policy of diplomatic negotiations as he noted his administration’s goal to make “sure that they (Iranians) pay a price,” while seeking to “isolate” Iran — not only over the alleged assassination plot, but over its nuclear program and ties to terrorism.

Addressing a joint press conference with visiting South Korean president Lee Myung Bak at the White House, Obama refused to say explicitly whether he believed Iran’s leaders knew about a plot to assassinate the Saudi Arabian ambassador in Washington, but the Iranians should be held accountable in any event, reiterated Obama.

“Even if at the highest levels there was not detailed operational knowledge, there has to be accountability with respect to anybody in the Iranian government engaging in this kind of activity,” Obama said.

President asserted himself when he replied to one conservative channel correspondent saying, “Well I did not know you were the spokesman for Romney.”

Smiling Obama answered when he was asked if he considered the alleged Iranian assassination plot to be “an act of war.”

The journalist framed his question citing Republican presidential hopeful Mitt Romney as saying earlier, “what specific steps will you take to hold Iran accountable? Especially when Mitt Romney charged last week, quote, ‘If you do not want America to be the strongest nation on Earth, I am not your President. You have that president today.’”

On the recent nod from U.S. Congress for the free trade agreement with Korea, President Lee said he is confident Korean parliament will ratify the deal soon.

“I am confident that the Korea National Assembly will soon ratify this very important agreement in the near future,” Lee said. “It is a win-win agreement that will benefit both of our economies in countless ways.”

Calling the FTA an “historic milestone,” Lee said the countries have set an example of job creation and economic growth through free trade.

Highlighting the ongoing concern in Europe, Lee noted the global economy’s present challenges, saying, “the Korea-US Free Trade Agreement will demonstrate to the world that we can create good quality jobs and stimulate growth through open and fair trade.”

Obama summed up the agreement effect as, “In short, this agreement will boost American exports by up to $11 billion and support some 70,000 American jobs.”

The occasion was also used by Obama to warn North Korea, saying, “If Pyongyang continues to ignore its international obligations, it will invite even more pressure and isolation.”

“If the North abandons its quest for nuclear weapons and moves toward denuclearization, it will enjoy greater security and opportunity for its people,” Obama offered as a choice for North Korea.

View full post on Trade Agreements Stories

Related posts:

1. Obama, Harper stay apart on pipeline issue, ink other agreements
2. Indian PM, Obama Agree India Not Stealing American Jobs
3. President Obama departs for vacation in Hawaii

Washington, D.C., United States (AHN) – The top U.S. diplomat on Tuesday urged American companies to get involved in the umpteen opportunities emerging across the world to boost jobs at home while cautioning the lawmakers that trimming budget of diplomacy would risk cutting domestic jobs.

Addressing a select audience of business leaders from around the nation at the U.S. Global Leadership Coalition in Washington, Secretary of State Hillary Clinton urged American companies to “roll up their sleeves, get out there and engage with the economic opportunities that are emerging across the world.”

Citing her “two and a half years as your secretary of state, traveling nearly 600,000 miles,” Clinton said, “I have reached one over-arching conclusion. Simply put, we need to up our game.”

“We need to double-down on what we do well and add new tools and techniques to compete effectively in the 21st century, to be strong at home and to lead abroad,” Secretary Clinton said.

In a significant caution to Congress, Clinton said if there is a cut in the State Department budget due to the current deficit crisis, other countries are poised to take advantage.

“The 1% of our budget we spend on all diplomacy and development is not what is driving our deficit. Not only can we afford to maintain a strong civilian presence, we cannot afford not to,” noted Secretary Clinton.

Explaining further, Clinton said, “The simple truth is, if we don’t seize the opportunities available today, other countries will; other countries will fight for their companies while ours fend for themselves. Other countries will promote their own models and serve their own interests, instead of opening markets, reinforcing the rule of law and creating widespread inclusive growth,” adding, “Other countries will create the jobs that should be created here, and even claim the mantle of global leadership.”

On the untiring work being performed by the American diplomats abroad, the top diplomat cited Open Skies agreements with countries as one of the showpieces saying that $120 million impact is felt on Tennessee’s economy with a direct flight from Memphis to Amsterdam with a support for over 2,200 local jobs.

“These agreements may not create headlines, but they do create jobs,” Clinton added,

At a briefing later at the State Department, Robert D. Hormats, Under Secretary for Economic, Energy and Agricultural Affairs told journalists that the State Department is pursing a policy abroad that results in job creations back home in the United States.

Enlarging upon the Secretary Clinton’s speech, Hormats said, “We are very cognizant of the fact that, in this country, a number of people are struggling. We understand the particular importance of the State Department not only conducting a vigorous international economic policy but also connecting with the concerns and the aspirations and the interests of working people in America.”

View full post on Trade Agreements Stories

Related posts:

1. U.S. Commerce Department says consumer spending up 0.3 percent in November
2. Gross Domestic Product Grew At A Tepid 2% During Q3
3. Retailers charge Illinois Internet tax bill may drive jobs out of state

Washington, D.C., United States (AHN) – The United States avoided the dreaded scenario of “default” on Tuesday and ended weeks of political circus in Washington as both Congress and the Senate passed the required bill raising the debt ceiling of the country allowing the U.S. Treasury to immediately borrow billions of dollars.

The legislations allows for more borrowing later but also aims to reduce the nation’s $14.3 trillion deficit by more than two trillion dollars over 10 years but the concern of rating agencies was still unclear leaving the chances of a downgrade for American credit rating open.

The White House announced during the regular daily briefing that President Barack Obama signed into law debt-ceiling legislation after the Senate passed the Congress approved bipartisan bill with a 74-26 vote on Tuesday before a midnight deadline to get a deal done. The House of Representatives passed the bill on Monday by a vote of 269 to 161.

Earlier addressing journalists at a Rose Garden news conference on Tuesday as the bill cleared the last hurdle of the Senate vote, Obama said, “This compromise guarantees more than $2 trillion in deficit reduction.”

Thanking “the American people for keeping up the pressure on their elected officials to put politics aside and work together for the good of the country,” Obama said, “It’s an important first step to ensuring that as a nation we live within our means.”

“This is, however, just the first step. This compromise requires that both parties work together on a larger plan to cut the deficit, which is important for the long-term health of our economy,” said Obama.

Admitting that the plan would need to include cuts to social programs and taxation on wealthiest Americans and biggest corporations, Obama said, “That means making some adjustments to protect health care programs like Medicare so they’re there for future generations.”

“It also means reforming our tax code so that the wealthiest Americans and biggest corporations pay their fair share,” said Obama, adding, “And it means getting rid of taxpayer subsidies to oil and gas companies, and tax loopholes that help billionaires pay a lower tax rate than teachers and nurses.”

Expressing his frustration over the way the political bickering went on for weeks, Obama said, “Voters may have chosen divided government, but they sure didn’t vote for dysfunctional government.”

In a message directed to the American lawmakers, Obama said, “When Congress gets back from recess, I will urge them to immediately take some steps — bipartisan, common-sense steps — that will make a difference; that will create a climate where businesses can hire, where folks have more money in their pockets to spend, where people who are out of work can find good jobs.”

“I want Congress to pass a set of trade deals — deals we’ve already negotiated — that would help displaced workers looking for new jobs and would allow our businesses to sell more products in countries in Asia and South America, products that are stamped with the words “Made in America,” Obama added in his call to Congress.

During the Senate debate, Republican Senator John McCain from Arizona in a statement said, “Mr. President, I support the legislation before us today to raise the debt ceiling and at the same time curb government spending without raising taxes.”

Saying that the U.S. “cannot default on our obligations and this bill prevents that from happening,” McCain said, “Mr. President, this measure represents the beginning — not the end — of what I believe will be a sustained national focus on getting our fiscal house in order. We still have a very long way to go and a great deal of hard work to do.”

View full post on Trade Agreements Stories

Related posts:

1. Geithner: failure to increase U.S. debt ceiling would be catastrophic
2. Obama Signs Bill to Extend Tax Cuts and Unemployment Benefits
3. Obama lambastes lawmakers for shattering Dream Act

View full post on ACCOUNT NOTICE

Related posts:

1. Credit card companies’ shares plunge on news of Fed plan to cut fees by up to 90 percent
2. The information content of insider call options trading.: An article from: Financial Management

Washington, DC, United States (AHN) – The United States on Thursday signed a cooperation agreement with Chile to enable antitrust agencies in the two countries to improve their law enforcement relationships.

“Chile has one of the most advanced antitrust systems in Latin America,” said FTC Chairman Jon Leibowitz in a statement after the signature ceremony, adding, “They are natural partners for us, and I’m pleased that we can formalize and strengthen the great relationship we have with them.”

Leibowitz signed the agreement with Felipe Irarrázabal, Chile’s national economic prosecutor. Christine Varney, assistant attorney general in charge of the U.S. Department of Justice’s antitrust division also signed on behalf of the department.

“This new agreement is a significant step in developing a close relationship between the antitrust agencies of the United States and Chile. It is an important tool that will be used to protect consumers in both countries,” said Varney.

She said provisions in the agreement “provide a sound basis for enhanced cooperation on a day-to-day basis, while minimizing possible conflicts between the two nations’ antitrust enforcement activities.”

“We look forward to working more closely with our Chilean colleagues at a time when sound antitrust enforcement is a high priority in both the United States and Chile,” Varney added.

U.S. antitrust agencies already have similar agreements with Brazil, Canada, the European Union, Israel, Japan and Mexico.

View full post on Trade Agreements Stories

Related posts:

1. U.S. signs antitrust cooperation agreement with Chile
2. Russia signs trade agreements with 7 ex-Soviet nations
3. Obama, Harper stay apart on pipeline issue, ink other agreements

Washington, DC, United States (AHN) – The United States on Thursday signed a cooperation agreement with Chile to enable antitrust agencies in the two countries to improve their law enforcement relationships.

“Chile has one of the most advanced antitrust systems in Latin America,” said FTC Chairman Jon Leibowitz in a statement after the signature ceremony, adding, “They are natural partners for us, and I’m pleased that we can formalize and strengthen the great relationship we have with them.”

Leibowitz signed the agreement with Felipe Irarrázabal, Chile’s national economic prosecutor. Christine Varney, assistant attorney general in charge of the U.S. Department of Justice’s antitrust division also signed on behalf of the department.

“This new agreement is a significant step in developing a close relationship between the antitrust agencies of the United States and Chile. It is an important tool that will be used to protect consumers in both countries,” said Varney.

She said provisions in the agreement “provide a sound basis for enhanced cooperation on a day-to-day basis, while minimizing possible conflicts between the two nations’ antitrust enforcement activities.”

“We look forward to working more closely with our Chilean colleagues at a time when sound antitrust enforcement is a high priority in both the United States and Chile,” Varney added.

U.S. antitrust agencies already have similar agreements with Brazil, Canada, the European Union, Israel, Japan and Mexico.

View full post on Trade Agreements Stories

Related posts:

1. U.S. signs antitrust cooperation agreement with Chile
2. Russia signs trade agreements with 7 ex-Soviet nations
3. Obama, Harper stay apart on pipeline issue, ink other agreements

London, England, United Kingdom (AHN) – Mining and commodities trader Glencore announced Thursday its plans to launch in May a $60-billion (GBP 37 billion) initial public offering. The value involved makes the flotation the largest in London stock market’s history.

The sock offering is expected to raise up to $11 billion (GBP 18 billion) by selling 15 to 20 percent of the company’s equity to international investors.

With the public offering, Glencore’s 485 partner are expected to receive an average windfall of $100 million (GBP 164 million) each, which would turn most of them into multimillionaires overnight. However, the cash bonanza will be locked in for up to five years.

Glencore Chief Executive Ivan Glasenberg said the company will use a large part of the stock market float to hike its stake in Kazakh gold and copper mine Kazzinc to 93 percent from 57 percent.

On the same day as the IPO, the company appointed Simon Murray as new chairman. Murray was former head of Hutchinson Whampoa, a Hong Kong company that operated a mobile phone service.

According to reports, Murray was a second choice for the post. The initial choice was Lord Browne, ex chief of British Petroleum. Browne did not accept the job because he and Glencore did not reach an agreement over the role, particularly on corporate governance.

Some investors, however, are wary of the impact of Glencore going public after 37 years of being held in private hands over their power to shape the firm’s strategy or approach to corporate governance. They fear being led by a board that which may not listen to shareholders.

View full post on Stock Activity Stories

Related posts:

1. Glencore UK-Hong Kong IPO details expected Thurs.
2. Potash Corporation Plans Buyback Of $2 Billion Stock
3. British HR Experts Expect Austerity Measures To Cost 1.6 Million Jobs