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Showing posts with label months. Show all posts
Showing posts with label months. Show all posts

Residents back in Yemen city after months of fighting

Written By Guru Cool on Sunday, January 15, 2012 | 7:33 AM

A view of the old Sanaa city in Sanaa January 14, 2012. REUTERS/Mohamed al-Sayaghi

A view of the old Sanaa city in Sanaa January 14, 2012.

Credit: Reuters/Mohamed al-Sayaghi


ADEN, Yemen (Reuters) - Hundreds of people displaced by months of fighting in southern Yemen returned to their home city on Saturday as armed Islamist militants and government troops looked on, residents said, in what many hoped could be a step towards ending the conflict.


"The army controls the east of Zinjibar and the Ansar al-Sunna hold the western part of the city," Khalid al Saeed said, referring to a group which the government says is linked to al Qaeda.


"Both sides had agreed with our request to return. The army told us to avoid some areas where there are land mines," Saeed said, adding that there was widespread destruction during eight months of fighting.


Thousands of Yemenis have held protests demanding an end to the fighting that has forced them to flee their homes in the south, holding several 50 km (31 mile) marches from the port city of Aden to Zinjibar, capital of southern Abyan province where the militants have seized swathes of territory.


The southern fighting is one of many challenges facing the impoverished state, which has also been rocked by nearly a year of protests against the 33-year rule of outgoing President Ali Abdullah Saleh.


The United States and top oil exporter Saudi Arabia are both concerned about the growing chaos in the country, which is close to oil shipping routes.


In continued unrest, gunmen believed the be from al Qaeda shot dead a pro-government tribesman outside the city of Lawdar in Abyan province on Saturday, a security official told Reuters.


DEADLINE PASSES


In the capital, a 48-hour deadline given to armed opponents and backers of Saleh to withdraw after months of street fighting passed but there was little change in the armed face off, residents said.


A committee tasked with overseeing the demilitarisation of the capital reiterated on Saturday its demand on rival forces to withdraw, and thanked those which had pulled back, state news agency Saba reported.


Tribal fighters led by Saleh's opponents and Republican Guard troops commanded by the veteran leader's son are still deployed in several areas of Sanaa, including the northern district of Hasaba, scene of some of the heaviest fighting.


In late December, militants shot in the air to stop a march to Zinjibar by activists among the displaced who were calling on both sides to lay down their arms in the south and demanded the government open the Aden-Zinjibar coastal highway, a key trade route closed during the conflict.


Saudi Arabia has backed a Gulf Arab peace plan to resolve the anti-Saleh uprising, under which the president handed power to his deputy. A presidential election is scheduled for February.


But the fighting against the Islamist militants in the south has continued, forcing about 97,000 people to flee. More than 300,000 others have been displaced by a conflict in the north, according to U.N. estimates.


(Reporting by Mohammed Mukhashaf in Aden and Mohammed Ghobari in Sanaa; Writing by Firouz Sedarat; Editing by Peter Graff)

7:33 AM | 0 comments

Market eyes Europe, DC after worst week in 2 months

Written By Guru Cool on Saturday, November 19, 2011 | 6:21 AM

AppId is over the quota AppId is over the quota 

Traders work on the floor of the New York Stock Exchange November 18, 2011.

Credit: Reuters/Shannon Stapleton

By Rodrigo Campos


NEW YORK | Fri Nov 18, 2011 5:08pm EST


NEW YORK (Reuters) - The worst week for U.S. stocks in two months ended with traders mostly sitting it out on Friday as they waited for politicians in Europe and the United States to tackle festering debt problems.


The Dow and S&P 500 were little changed and the Nasdaq composite index fell.


Friday's directionless market showed more exhaustion than relief as Europe remained investors' primary worry. Stocks found support after Italian and Spanish bond yields fell thanks to buying by the European Central Bank.


In the United States, doubts grew whether a bipartisan committee could come up with budget cuts and tax increases that Congress can agree on next week.


Financial shares, which have been among the most sensitive to euro zone financial strains, rose on Friday. The S&P financial index was up 0.5 percent. Morgan Stanley shares edged up 0.6 percent to $14.21 but fell more than 13 percent this week.


A major question has been whether the European Central Bank will find a way to act as a lender of last resort in the manner of the U.S. Federal Reserve. Speculation has grown the ECB could lend money to the International Monetary Fund to bail out some euro zone members.


"It's hard to see the ECB changing roles, but on the other hand the powers to be have to be very aware of the consequences if this gets out of control," said John Manley, chief equity strategist at Wells Fargo advantage funds in New York.


"I can't imagine it is allowed to go to a level that it causes serious harm to the marketplace."


The Dow Jones industrial average gained 25.43 points, or 0.22 percent, to 11,796.16. The S&P 500 dipped 0.48 point, or 0.04 percent, to 1,215.65. The Nasdaq Composite lost 15.49 points, or 0.60 percent, to 2,572.50.


For the week, the Dow fell 2.9 percent, the S&P dropped 3.8 percent and the Nasdaq lost 4 percent.


The S&P failed to rise above 1,225 after a drop below it on Thursday triggered massive selling, and it is now strengthening as technical resistance.


Little conviction characterized this week's market action as traders worried changes in governments in Greece and Italy failed to bring bond yields much lower.


Spain's likely new leader, center-rightist Mariano Rajoy, pleaded with financial markets for breathing room to start tackling the country's economic crisis if he wins power in a parliamentary election this weekend.


"If people don't see politicians standing behind change, markets are ready to force change," said Subodh Kumar, chief investment strategist at Subodh Kumar & Associates in Toronto.


While investors try to come to grips with how much of an impact the European crisis may have on the U.S. economy, data for the United States showed continued improvement.


A gauge of future U.S. economic activity rose more than expected in October, according to the Conference Board.


About 6.7 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq on Friday, below the current daily average of 8 billion shares.


Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 13 to 10, while on the Nasdaq decliners beat advancers 1,259 to 1,226.


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)

6:21 AM | 0 comments

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