WASHINGTON (Reuters) - President Barack Obama and congressional Republicans face even bigger budget battles in the next two months after a hard-fought "fiscal cliff" deal narrowly averted devastating tax increases and spending cuts.The agreement, approved late on Tuesday by the Republican-led House of Representatives and signed by Obama on Wednesday, was a victory for the president, who had won re-election...
Oil prices tumble over ample supplies, flat demand
Labels: BusinessBANGKOK (AP) — Oil prices fell Thursday as fiscal-cliff euphoria fizzled and the traders evaluated ample energy supplies against lackluster demand.Benchmark crude for February delivery fell 21 cents at midday Bangkok time to $92.91 in electronic trading on the New York Mercantile Exchange. Prices had jumped Wednesday after a deal in Washington averted the dreaded "fiscal cliff." The contract rose...
Asia stocks eke out gains on China hopes, oil eases
Labels: BusinessHONG KONG (Reuters) - Most Asian stock markets edged higher on Thursday on hopes of a steady economic revival in China, although oil gave back part of the previous session's strong gains as investors took some money off the table and braced for more U.S. budget battles.The MSCI Asia Pacific ex-Japan index of stocks <.miapj0000pus> rose 0.2 percent following Wednesday's 2 percent jump on relief...
'Fiscal cliff' deal leaves lots of issues dangling
Labels: BusinessThe "fiscal cliff" compromise on taxes leaves a big part of the nation's budget crisis still dangling.Lawmakers bought a little time with a New Year's agreement to hold income tax rates steady for 99 percent of Americans while allowing payroll taxes to go up. But they left themselves only two months to settle seemingly irreconcilable differences over how much the United States should borrow and spend...
2016 politics on display as Congress ends term
Labels: BusinessWASHINGTON (AP) — Rep. Paul Ryan, the GOP's 2012 vice presidential candidate, voted for the "fiscal cliff" compromise that raised taxes on the wealthiest Americans. Republican Sens. Marco Rubio and Rand Paul voted against it. And Vice President Joe Biden helped broker the deal with GOP leaders in the Senate.As Congress closed out its term this week, New Jersey Gov. Chris Christie accused fellow Republicans...
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UN envoy tries to revive Syria peace plan
Labels: Words• A daily summary of global reports on security issues.Lakhdar Brahimi, the United Nations special envoy to Syria, said today that he is in Damascus and Moscow this week to try to revive a peace plan for Syria that was shelved this summer. However, rebel gains on the ground make it unlikely that the plan will go anywhere without more concessions to the Syrian opposition.Russia is standing by its red...
Syrian conflict threatens to fracture Iraq
Labels: WordsIn September, as the Iraqi government reached one of its lowest points in relations with Turkey in years, Ankara welcomed Iraqi Kurdistan's President Massoud Barzani as a guest of honor at a convention hosted by the ruling Justice and Development Party.The semi-autonomous Kurdistan Regional Government (KRG) in northern Iraq and the federal government in Baghdad have not seen eye to eye for years,...
In 2013, possibilities for stability from Somalia to South China Sea
Labels: WordsThe international news of any year is a disparate affair, a global chronicle of courage, calamity, and close calls. The interconnectedness of events is not always clear.But looking ahead to 2013, whether in Syria, South America, or the South China Sea, policymakers have a common New Year's wish: for unity to usher in and consolidate political and economic stability.EUROPE TURNS TOWARD INTEGRATIONAfter...
Benazir Bhutto's son takes up the family trade in Pakistan
Labels: WordsFive years after the assassination of Pakistan’s former Prime Minister Benazir Bhutto, her son Bilawal Bhutto Zardari made his first major speech today aimed at galvanizing supporters of the Bhutto family-led Pakistan Peoples Party.The speech, delivered in the family’s hometown of Garhi Khuda Bux in Pakistan’s Sindh Province, was attended by thousands of party supporters gathered to mark the anniversary...
India gang rape spurs national dialogue
Labels: WordsThe Indian government’s crackdown on the anti-rape protests that have continued for nearly two weeks in New Delhi has only aggravated public anger and concern about women’s safety.The protests were sparked by the gang rape and brutal assault of a 23-year-old student on a bus in the elite South Delhi district on Dec. 16.As the girl battles for her life in a Singapore hospital, Indians are debating...
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