Looking for His glorious appearing! Titus 2:13

U.S. Troops Warned not to Wear Uniform in Europe
Nov 24th, 2014
Daily NewsSky News
Categories: Today's Headlines;Contemporary Issues

European Command will not say what has prompted the directive, which affects some 70,000 US service members.

US Marines in Stuttgart, Germany. Pic: Flickr/Department of Defense

The US military has ordered its troops in Europe to avoid wearing their uniforms when off base.

Personnel have also been advised to ensure their privacy and geolocation settings on social media are not "overly revealing". 

European Command did not say what had prompted the directive, which affects some 70,000 US service members. 

US soldiers on exercise in Bavaria, Germany Pic: Flickr (Pentagon)

Spokesman Navy Capt Greg Hicks said: "We continually assess threats to our forces with and alongside our host nation counterparts, and take appropriate measures based on those assessments. 

"We will not get into the specifics of those threats nor the assessments."

Video: Turkey Protesters Attack US Sailors

The order, issued on 10 November, comes a week after an attack on three US sailors, who were not in uniform, in Istanbul, Turkey.

Anti-American protesters threw red paint and briefly managed to force white sacks over the trio's heads after identifying them as US servicemen.

Last month a soldier in Ottawa, Canada, was shot dead in what authorities called a terrorist attack. The gunman was shot dead by a parliamentary security official.

Two days earlier, a Canadian soldier died and another was injured after they were run over in a Quebec car park.

Their attacker, said to have been inspired by the Islamic State extremist group, was shot dead by police.

Last year, British soldier Lee Rigby was killed in one of the most notorious attacks on a serviceman.

Two Islamic extremists in a car ran over the British soldier in broad daylight in Woolwich, London then stabbed him to death.

Sisi Clarifies Statement on Sending Troops to Palestinian State
Nov 24th, 2014
Daily NewsArutz Sheva
Categories: Today's Headlines;The Nation Of Israel

Abdel Fattah el-Sisi

Reuters

The office of Egyptian President Abdel Fattah al-Sisi issued a clarification Sunday evening about his statement to the Italian daily Corriere della Sera that Egypt would be prepared to send troops to a future Palestinian state.

"Regarding the statement about the possibility of sending troops from Egypt and the Arab countries to secure a future Palestinian state, these statements were made to encourage Israel to move towards the two-state solution," said Ambassador Alaa Youssef, according to the website of Egypt’s Al-Ahram newspaper.

Sisi said in the interview published Sunday that he would be prepared to send troops to a future Palestinian state to help stabilize it, but only in agreement with Israel and the Palestinian Authority (PA).

"We are ready to send military forces into a Palestinian state," he said in the interview.

"We would help the local police and reassure the Israelis through our role as guarantor. Not forever, of course but for the time necessary to re-establish confidence. But first a Palestinian state must exist where troops can be sent to," he added.

Sisi said he had spoken of the idea with Israeli Prime Minister Binyamin Netanyahu and PA Chairman Mahmoud Abbas.

The interview comes as Abbas continues his plans to turn to the UN Security Council with a resolution setting a deadline for Israel to “end the occupation”, a unilateral move that is in violation of the Oslo Accords.

The move has been accompanied by threats, with Abbas having recently threatened to cut ties with Israel if his latest unilateral move at the UN fails.

"If all efforts fail, we will end relations with Israel and I will tell Israeli Prime Minister Binyamin Netanyahu, ‘Come and take over’. However, I will not dismantle the Palestinian Authority and I will submit a request to join all the organizations belonging to the UN," he declared.

Fatah leader Nabil Shaath recently threatened Israel with a “political war” if there is a negative response to Abbas’s steps at the United Nations.

PLA's Jl - 2 Missile Can Reach U.S. Mainland: Report
Nov 24th, 2014
Daily NewsWant China Times
Categories: Today's Headlines;Contemporary Issues

A test launch of the JL-2 SLBM. (Internet photo)

China's JL-2 second-generation intercontinental-range submarine-launched ballistic missile, which has the ability to reach the continental USA, is already believed to be deployable by the People's Liberation Army, reports Huanqiu, the Chinese-language website of the nationalistic Global Times tabloid.

The Julang-2 — literally "Giant Wave 2" — has reached a preliminary level of proficiency, according to the US-China Economic and Security Review Commission in its report to US Congress on Nov. 20.

The report, which criticizes China's "unsafe, unprofessional and aggressive" behavior and the intimidation of its neighbors in the Asia-Pacific over the past year, also claims that the new nuclear submarine capable of carrying the JL-2 is planning its maiden voyage before the end of the year.

"The JL-2, when mated with the PLA Navy's JIN-class (SSBN), will give China its first credible sea-based nuclear deterrent," the report said.

China is also testing supersonic guided missiles that, if successful, could render America's missile defense system outdated, the report added.

The report estimates that China could have as many as 351 submarines and missile-equipped surface ships in the Asia-Pacific by 2020, while the US Navy plans to only have 67 submarines and surface ships stationed or deployed to the region.

The potential for "security miscalculation" in the Asia-Pacific is rising as China increases its military spending by double-digit percentages every year while the balance of power drifts away from the US and its allies, the report said.

Pakistan to Have 200 Nuclear Weapons By 2020: U.S. Think Tank
Nov 24th, 2014
Daily NewsNDTV
Categories: Today's Headlines;Contemporary Issues

The report has identified South Asia as the region 'most at risk of a breakdown in strategic stability'

Washington:  Pakistan has the fastest growing nuclear weapons programme in the world and by 2020 it could have enough fissile material to produce more than 200 nuclear devices, a top American think tank has said.

"Though many states are downsizing their stockpiles, Asia is witnessing a buildup. Pakistan has the fastest-growing nuclear programme in the world. By 2020, it could have a stockpile of fissile material that, if weaponised, could produce as many as 200 nuclear devices," Council on Foreign Relations has said.

The report 'Strategic Stability in the Second Nuclear Age', authored by George Mason University's Gregory Koblentz, has identified South Asia as the region "most at risk of a breakdown in strategic stability due to an explosive mixture of unresolved territorial disputes, cross-border terrorism, and growing nuclear arsenals."

Pakistan, the report said, has deployed or is developing 11 delivery systems for its nuclear warheads, including aircraft, ballistic missiles and cruise missiles.

"Pakistan has not formally declared the conditions under which it would use nuclear weapons but has indicated that it seeks primarily to deter India from threatening its territorial integrity or the ability of its military to defend its territory," the report said.

CFR said while Pakistan is focused predominantly on the threat posed by India, it is reportedly also concerned by the potential for the US to launch a military operation to seize or disarm Pakistani nuclear weapons.

"This concern is based in part on reported contingency planning by the US military to prevent Pakistani nuclear weapons from falling into the hands of terrorists," CFR said.

CFR said India is estimated to possess enough fissile material for 90-110 nuclear weapons and is expanding its production capacity.

China, it said, is estimated to have 250 nuclear weapons for delivery by a mix of medium, intermediate, and intercontinental-range ballistic missiles and bombers.

Mediterranean Naval Drills By China are Strategic: Duowei
Nov 24th, 2014
Daily NewsWant China Times
Categories: Today's Headlines;Contemporary Issues

Chinese and Russian navies coordinate efforts while escorting Syrian chemical weapons through the Mediterranean in June 2014. (Photo/CNS)

China's decision to conduct joint naval drills with Russia in the Mediterranean next year has deep strategic meaning, says Duowei News, a US-based Chinese political news outlet.

Russian defense minister Sergey Shoygu announced the joint exercise on Nov. 18 during his visit to Beijing this week. It is no surprise that Russia intends to increase its presence in the region, given that the Russian navy declared last May that it was building a sub fleet in the Mediterranean, with the goal of restoring the country's Mediterranean Fleet by 2015.

For China, on the other hand, the decision appears on its face to be simply a show of support for Russia, which has been isolated by the West after it annexed the Crimea peninsula from Ukraine in February. It could also be construed as a demonstration of the strength of bilateral relations to the rest of the world.

This does not mean, however, that China would be a military ally of Russia in a real war, adding that the decision to conduct the joint drills is likely based more on the benefit to China's own interests, Duowei said.

China still holds the largest number of troops in the world and has added advanced stealth jets and an aircraft carrier to its arsenal, but a lack of real combat experience is still considered a major weakness of the People's Liberation Army. A study conducted by the US Navy found that although the PLA Navy has 235,000 people, five times more than that of Japan, China's chain of command and information remains significantly behind international leaders.

Following the disappearance of Malaysia Airlines flight 370 in March, China deployed 12 vessels, 10 satellites and three aircraft for the search efforts. The main aim was of course to locate the missing airliner and the 239 people in board, including the 152 mainland Chinese citizens, Duowei said, though from another point of view the exercise allowed China to gain valuable experience in the South China Sea and previously foreign waters such as the Strait of Malacca.

It is also clear that China is interested in increasing its own presence in the Mediterranean, which has historically been a key geographical region, Duowei said. In July 2012, the PLA's Qingdao Type 052 destroyer, Yantai Type 054A frigate, Weishanhu Type 903 replenishment ship all entered the Mediterranean for the first time after completing an escort mission near the Gulf of Aden. Then from January this year, the PLA's Yancheng Type 054A frigate, along with vessels from Russia, Denmark and Norway, began jointly escorting Syrian chemical weapons through the Mediterranean, further raising questions about China's intended role in the region.

Duowei believes this could be an example of China using its military might to open an economic door to the West, a method that is no different to how the West used cannons to blow down the door to China or how England stationed 50,000 troops in the region to protect access to Indian resources and markets.

No matter how much the Chinese government denies it, the PLA's increased activity in the Mediterranean signals China's intentions for the region. With China's aircraft carrier technology developing rapidly and efforts to build a blue-water navy growing stronger, it is possible that PLA could have a fleet in the Mediterranean by 2025, Duowei said.

Let the Headlines Speak
Nov 24th, 2014
Daily NewsFrom the internet
Categories: Today's Headlines;Contemporary Issues

Iran Nuclear Talks Extended 7 Months; $700 Million In Monthly Sanctions Lifted
In what is hardly a surprising outcome, the parties involved in the Iran nuclear talks have decided it best for all to extend (and pretend) the discussion for another 7 months: Diplomatic teams will reconvene in December and the US State Department is proclaiming "good progress" in a brief statement. 7 more months of sanctions, a call with Putin today, and OPEC later in the week... one wonders if any of this will be relevant in 7 months. Additionally, it seems beggars can be choosers as P5+1 says Iran can get $700 million per month in frozen assets back...  

Fogo volcano erupts after 20 years of sleep, evacuations in progress, Cape Verde Islands
Fogo, a volcano in the Cape Verde archipelago located off the coast of West Aftica, started erupting around 11:00 UTC on Sunday, November 23, 2014, after almost 20 years of calm period. The eruption prompted nation's prime minister Jose Maria Neves to call for evacuations of Cha das Caldeiras on the slopes of the volcano.  

Dems warn backers: Obama could go to prison!
A mass email from the Democratic Congressional Campaign Committee Sunday tried to drum up support by warning President Obama is in danger of impeachment, or even worse, jail time.  

Graham critical of new GOP House report on Benghazi, calls findings 'garbage'
“I think the report is full of crap,” Graham, a Republican, said on CNN’s “State of the Union.”  

Once Again, The Temple Mount is the Heart of the Matter
Not only the site of the site of the First and Second Temples, the Mount, Mount Moriah, is considered to be the site of where Abraham sacrificed Isaac, Jacob dreamed of the ladder ascending to heaven, and in some interpretations, the site of Gan Eden itself.  

600 Face Rain, Cold, Security Hazards for Annual March Around Temple Mount
Despite the inclement weather, 600 Jews, comprised of young and old, men and women, showed up last night (Sunday) for the traditional march around the gates of the Temple Mount. Neither safety considerations, the Jerusalem cold nor the wet dampened spirits as the circuit was made, or stop the spontaneous outbreaks of singing and dancing.  

Christians United for Israel Chairman John Hagee says Obama is anti-Semitic
During his speech, Hagee referred to Obama as “one of the most anti-Semitic presidents in the history of the United States of America,” due to his lack of support for the Holy Land in his foreign policy agenda. Hagee also mocked Obama for having previously called US-Israeli relations unbreakable, stating that: “He knows it’s unbreakable because he’s been trying to break it for the last five years.”  

30,000 missing emails from IRS' Lerner recovered
The U.S. Treasury Inspector General for Tax Administration (TIGTA) informed congressional staffers from several committees on Friday that the emails were found among hundreds of “disaster recovery tapes” that were used to back up the IRS email system.  

3.3 earthquake rocks Dallas area
A magnitude-3.3 earthquake has shaken North Texas strong enough to draw reaction during a Dallas Stars hockey game.  

U.S. plans to arm Iraq's Sunni tribesmen with AK-47s, RPGs, mortars
The United States plans to buy arms for Sunni tribesmen in Iraq including AK-47s, rocket-propelled grenades and mortar rounds to help bolster the battle against Islamic State militants in Anbar province, according to a Pentagon document prepared for Congress. The plan to spend $24.1 million represents a small fraction of the larger, $1.6 billion spending request to Congress focusing on training and arming Iraqi and Kurdish forces.  

Exclusive: China ready to cut rates again on fears of deflation - sources
China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making. Friday's surprise cut in rates, the first in more than two years, reflects a change of course by Beijing and the central bank...  

Relationship between Israel and Jordan grows warier amid tensions in Jerusalem
Jordan’s king and his people are bristling with anger over Israeli actions at a sacred site for Muslims in Jerusalem, threatening to turn a cold peace between Israel and Jordan into a deep freeze. The rising animosity between Jordan and Israel...could undermine U.S.-led efforts to fight Islamist extremists. It also threatens a multibillion-dollar natural gas deal that is important to both countries.  

Small quake shakes Dallas area, stirring fracking critics
A light earthquake shook the Dallas-Ft. Worth area of North Texas on Saturday night, leaving no known damage or casualties but stirring concern about the potential of the area's oil and gas fracking industry to generate seismic activity. The magnitude 3.3 earthquake struck about 9:15 p.m. Central time on Saturday, said Dale Grant, an geophysicist with the U.S. Geological Survey.  

Flood of illegal immigrants to pour into NYC schools
New York has sent a warning to its schools: Expect more illegal immigrants. The city Department of Education has told principals it plans this year to enroll 2,350 migrant children from Central America who crossed into the United States unaccompanied — with many more to come.  

Nuclear talks to resume in December, no new sanctions relief for Iran
Iran and six world powers are expected to adjourn nuclear negotiations on Monday and reconvene next month after the latest round of talks failed to clinch a final deal, a source close to the talks said. Details about the adjournment and resumption of negotiations were still being worked out, though the source said on condition of anonymity that Iran could not expect any new sanctions relief for the time being.  

Egypt faces a new, harsher kind of repression
Nearly four years after ousting one dictator, Egyptians may be facing an even more oppressive regime. President Abdel Fattah al-Sisi, a former army chief, is bringing military-like precision to target dissent by tightening control of the media and issuing a decree that could further obstruct justice in the nation.  

Iraqi forces say retake two towns from Islamic State
Iraqi forces said on Sunday they retook two towns north of Baghdad from Islamic State fighters, driving them from strongholds they had held for months and clearing a main road from the capital to Iran.  

Israeli Cabinet moves to define Israel as Jewish
In a move likely to further inflame tensions with Israel's Arab citizens, the Israeli Cabinet on Sunday approved a bill to legally define the country as the nation-state of the Jewish people.  

Hezbollah claims 'pinpoint' Iranian missiles added to its arsenal
The Lebanese Shiite militant group and close ally of Iran said it has received more advanced missiles, with greater range, as talks over Iran's nuclear program wind down in Vienna.  

In interviews, Finland’s leaders see peril in standoff between Russia and the West
Washington Post London Bureau Chief Griff Witte sat down for separate interviews with Finnish President Sauli Niinistö and Finnish Foreign Minister Erkki Tuomioja in Helsinki. The following are excerpts from those interviews.  

Bennett: Time to Stop Blaming Ourselves and Fight Terror
Jewish Home chairman Naftali Bennett said on Saturday night that it is time for Israel to stop blaming itself for terrorist attacks and start fighting terror. Speaking to Channel 2’s “Meet the Press” program, Bennett said that terrorists’ homes must be destroyed the same day they carry out a terror attack.  

Jordanian MP Calls for Terrorism Against 'Filthy Jews'
Nov 24th, 2014
Daily NewsArutz Sheva
Categories: Today's Headlines;The Nation Of Israel

Jordanian King Abdullah II, Binyamin Netanyahu

Israeli Prime Minister Binyamin Netanyahu has gone out of his way in recent weeks to assure Jordan's King Abdullah that Israel is committed to the peace treaty between the two countries, repeating a pledge to even prevent Jews from praying at their holiest site - the Temple Mount - in response to Jordanian demands.

But the Jordanian government has been striking a far less conciliatory tone, with ministers calling on the king to revoke the peace treaty with Israel. Last week, following the deadly attack at a Jerusalem synagogue, Jordan's parliament held a minute's silence and dedicated a special prayer - in honor of the two terrorists, who MPs hailed as "heroes".

In a TV recent interview, translated by the Middle East Media Research Institute (MEMRI), one Jordanian MP provided an insight into just how hostile Jordanian parliamentarians are towards their country's "ally."

Speaking to Roya TV, MP Rudaina Ati praised "the (Jerusalem synagogue) operation" for sending "a clear message to the Zionist entity and to Stink-iyahu," referring to Israel with the term used by belligerent Arab states who refuse to recognize the existence of an independent Jewish state.

"The (Jews) must reconsider what they are doing, because they always violate treaties and abide by none," she continued, playing to anti-Semitic tropes popular in the Arab world.

Ati called on Arabs to use violent "resistance" to "liberate Palestine from the colonialist Jews," and stated that she believes in "the right of return" - referring to the demand to flood the Jewish state with millions of descendants of Palestinian Arabs who fled during the 1948 War of Independence, effectively liquidating the Jewish state.

She even went so far as to caution the Palestinian Authority not to soften its stance or make any concessions to Israel.

"The Palestinian Authority must not defend the interests of the filthy Jews on the land of Palestine," she declared.

Iran: We Supplied Hezbollah Missiles Capable of Reaching Dimona
Nov 24th, 2014
Daily NewsYNet News
Categories: Today's Headlines;Contemporary Issues

 Iran supplied Hezbollah with missiles capable of reaching the nuclear reactor in Dimona, semi-official Fars News Agency reported. The Fateh (Conqueror) model missile – carrying a 500 kilogram warhead and flying at up to 4,500 kph – has a range of 250 to 350 kilometers.

Ynet's defense expert Ron Ben-Yishai noted that the Iranian missiles are considered to be more accurate than previous models. The missiles made their way to Hezbollah through Tehran's ally, Syria.

According to foreign reports, Israel attacked a shipment of similar Fateh-110 missiles last year near the airport in Damascus.

"The new missiles will allow Hezbollah to hit anywhere in Israel," Revolutionary Guard Brigadier General Sayed Majid Moussavi told Fars. The report from the semi-official news agency emphasized that Tehran believed supplying weapons to Hamas and Hezbollah to confront "the bloodthirsty Zionist enemy" was a central component of its strategy.

Last week, another senior Revolutionary Guard official, Brigadier General Amir Ali Hajizadeh, revealed that the missile manufacturing plants used by the Syrian military were planned and constructed by Iran. He added that similar factories, and training services, were supplied to Hezbollah and Hamas.

The Fars report did not include any additional details or whether the new missiles were manufactured in Lebanon or transferred to Hezbollah already constructed.

The inflammatory report was published some 48 hours ahead of a final deadline for a nuclear deal between Iran and Western powers.

Hardliners in Iran Protest Nuclear Talks
Nov 24th, 2014
Daily NewsArutz Sheva
Categories: Today's Headlines;Contemporary Issues

Nuclear talks in Geneva

Reuters

Tensions over a possible nuclear deal between Iran and world powers were on display on Sunday outside an atomic facility in Tehran, where a rare protest saw hardliners criticize government negotiators.

According to a report by the AFP news agency, about 200 people, mostly students, gathered at the entrance to the Tehran Research Reactor to protest the negotiations with the West, the first such officially approved demonstration in months.

It coincided with the penultimate day of talks in Vienna between Iran and the United States and other leading states about a permanent nuclear deal.

"Nuclear energy is our absolute right," and "Sanctions won't stop us," read placards held by protesters, many of them suggesting there should be no compromise on Iran's disputed atomic activities.

They chanted "Death to America" while a designated speaker rounded on the conduct of the year-long negotiations which entered their final 36 hours with a deal hanging in the balance.

Iran's President Hassan Rouhani and Mohammad Javad Zarif, the foreign minister who is leading the talks in the Austrian capital, "do not know how to do diplomacy", the speaker said, according to AFP.

One woman held a banner that said, "The centrifuges are not working, nor is the economy," alluding to Rouhani's pledge to restart talks with the West to help Iran's sanctions-hit economy recover.

One demonstrator, a medical student who did not want to give her name, said she was "pessimistic about the Americans involved in the negotiations."

"We want an agreement where if we give something we get something in return, and what we want is a total removal of sanctions," she said.

Meanwhile, the talks in Vienna continued in an attempt to reach a deal by Monday’s deadline, as an Iranian official said that reaching a deal with the West over its nuclear program by Monday is “impossible”.

The official said the discussion “may soon have to shift from trying to reach an agreement to extending negotiations past tomorrow's deadline for the end of this round of negotiations.”

The Islamic Republic hotly denies its nuclear program is meant to build a nuclear weapon, even though the UN’s International Atomic Energy Agency (IAEA) has revealed Iran is not abiding by the interim conditions in refusing to answer questions on the military aspects of its program.

The latest reports indicated that the United States had suggested to Iran that it consider extending nuclear talks, as little progress had been made.

Disinflation a Worry not Only for Europe But Also for the World
Nov 24th, 2014
Daily NewsInternational Business Times
Categories: Today's Headlines;Contemporary Issues

New 10-euro banknotes are pictured during their presentation at the Austrian national bank in Vienna Jan. 13, 2014. Reuters/Heinz-Peter Bader

(Reuters) -- European Central Bank President Mario Draghi has moved closer to launching sovereign-debt purchases, and data this week will show just how dangerously low inflation has fallen in the $13 trillion eurozone economy. A sickly Europe has held back global economic growth for years, and now it is contributing significantly to powerful forces already dragging down inflation across the globe.

A spectacular drop in crude-oil prices during the past month will be the center of discussion when ministers of the world’s top oil exporters meet in Vienna Friday. The key question there is whether Saudi Arabia, which signaled last month it was comfortable with lower oil prices, accelerating a plunge in the price of crude to a third since June, will stick to that view. But rapidly increasing U.S. oil production, coinciding with shaky demand from China and Europe, is likely to keep a lid on the price no matter what the Organization of Petroleum Exporting Countries, or OPEC, decides to do.

The latest Reuters poll indicates eurozone inflation relapsed to 0.3 percent in November, far from the ECB target of just below 2 percent.

“It is essential to bring back inflation to target and without delay,” Draghi said Friday. “Monetary policy can and will do its part to achieve this. But it is also clear that, as monetary policy works on the demand side of the economy, other policies can assist in this process -- or at least not counteract it.”

After many years of austerity, Draghi and others have come around to the idea of loosening fiscal policy to invest in infrastructure. But Germany, which could best afford it, is focused on balancing its books for the first time since 1969.

Alarm Bells

Despite years of zero interest rates across mature economies and trillions of dollars worth of emergency stimulus by central banks, alarm bells are ringing worldwide.

Japan’s experiment in raising sales taxes in an attempt to revive inflation spawned news of yet another recession. The People’s Bank of China, which is dealing with a falling property market and an inflation rate that has tumbled to just 1.6 percent, unexpectedly cut its main interest rates for the first time in more than two years Friday. And the ECB, with rates as low they can go, has been doing everything in its power short of printing money -- an option staunchly opposed by Germany.

Yet private-credit figures this week may once again fail to show any real impact from the cheap long-term loans the ECB has offered banks to lend on to businesses. Bank credit to the private sector has been contracting for more than two years, and the few economists who gave a forecast expect another roughly 1 percent fall compared with a year ago.

Even if the ECB does engage in sovereign quantitative easing, it may not make much difference with euro bond yields already so low. The main effect would be to “contribute to a further depreciation of the euro to $1.15 by end-2016 and mitigate the upward pressure on bond yields in the eurozone that is likely to result from rises in U.S. Treasury yields as the Fed tightens the reins,” wrote Melanie Debono at Capital Economics.

But a rise in U.S. Treasury yields has been part of many economists’ forecasts for years now. Despite solid growth and modest inflation -- likely to be confirmed in official data next week -- Treasury yields have either remained low or moved lower.

With so many central banks having eased or prepared for possible easing over the last several months, it is becoming increasingly doubtful the Federal Reserve will raise its benchmark rate from a record low by the middle of next year.

Crisis on Hold: Jewish State Law Vote Deferred
Nov 24th, 2014
Daily NewsArutz Sheva
Categories: Today's Headlines;The Nation Of Israel

Avigdor Liberman (file)

Flash 90

The Coalition Management decided Monday to postpone by a week the Knesset plenum vote on two versions of the Jewish State bill, one of which was proposed by MK Ze'ev Elkin (Likud), and the other by MKs Ayelet Shaked (Jewish Home) and Robert Ilatov (Yisrael Beytenu).

The decision to defer the vote was reached after requests by Ilatov, who is the faction chairman of Yisrael Beytenu, and Shaked, faction chairwoman of Jewish Home.

The initiative for postponing the vote came from Yisrael Beytenu head Avigdor Liberman, and is intended to make it possible to find a compromise regarding the bill, which is currently threatening to bring down the coalition.

Arutz Sheva has learned that members of the Jewish Home agreed to the postponement, saying that they had no doubt that the bill would pass if brought to a vote, but that it would be better to maintain the coalition whole and avoid early elections.

Hatnua faction chairman MK Meir Sheetrit said Monday that his faction did not ask for the delay – either directly or indirectly. “The different reports do not fit in with the truth,” he said.

Hurtling toward a crash

Prime Minister Binyamin Netanyahu's coalition appeared to be hurtling toward a crash that could spell its end on Wednesday, as Netanyahu prepared to bring the Jewish State bill to a Knesset vote.

At Netanyahu's insistence, the government decided Sunday that all coalition MKs – including ministers – will be bound by coalition discipline in the vote, and must vote in favor of it.

Justice Minister Tzipi Livni, who heads Hatnua, a coalition partner with 6 MKs, is adamantly opposed to the bill.

In an interview with Channel 2 Sunday evening, Livni said: “I will not lend a hand to this bill. It's a bad, anti-Zionist, anti-democratic law which is contrary to the Declaration of Independence. I will not be a partner of it in any way, shape or form. If the prime minister decides to dismiss ministers who are fighting for a Jewish-democratic Israel, that can certainly be his decision. I have never given up on my principles," she added.

Livni did not rule out that Netanyahu purposely brought the bill to a vote in the government because he is sick of her behavior as a coalition partner. “This is possible,” she admitted. “If that is the case, I believe in the need to say the truth. Why take the thing that is most important to all of us and use it to hint to one of the coalition partners that you are tired of him? That is what I really found sad, in the government session.

Confirmed: Iran Talks to be Extended By 7 Months
Nov 24th, 2014
Daily NewsArutz Sheva
Categories: Today's Headlines;Contemporary Issues

Iran's President Hassan Rouhani

Reuters

Talks between Iran and Western powers regarding a comprehensive nuclear deal have been extended by seven months, a diplomat told the Associated Press on Monday - just as the original November 24 deadline approached. 

According to the diplomat, who spoke to AP on condition of anonymity, the deal must be settled by March 1. A fully-fleshed out and detailed agreement must then be drafted four months later, on July 1. 

Iran and six world powers are still holding talks in Vienna to hammer out the final details of the extension agreement, which followed previous reports on Sunday which indicated US Secretary of State John Kerry had offered Iran an extension. 

Chinese Foreign Minister Wang Yi said Monday negotiators were still having "consultations" on a final agreement, including the US's demands for heavy restrictions on Iran's nuclear program as well as Iran's push against economic sanctions, according to Fox News. 

While world leaders have said that Iran and the West have "never been closer" to an agreement, Israel has warned repeatedly that Iranian President Hassan Rouhani has embarked on a "charm offensive" to buy time to continue building nuclear warheads. 

The Islamic Republic hotly denies its nuclear program is meant to build a nuclear weapon, even though the UN’s International Atomic Energy Agency (IAEA) has revealed Iran is not abiding by the interim conditions in refusing to answer questions on the military aspects of its program.

Iran has been toughening its stance in recent weeks. Iran’s chief negotiator, Abbas Araqchi, recently said he sees no prospect for a deal unless the other side abandons its “illogical excessive demands”.

A senior Iranian official followed those comments by declaring that Iran will demand that all Western sanctions be lifted as part of a final deal, rejecting an American proposal of a gradual lifting of sanctions.

China Ready for Further Monetary Easing As Deflation Looms
Nov 24th, 2014
Daily NewsSputnik News
Categories: Today's Headlines;Contemporary Issues

Beijing may soon introduce broader stimulus measures in order to contain domestic risks to the economy before the recent structural reform is finalized.

MOSCOW, November 23 (Sputnik) — Chinese authorities are prepared for yet another interest rate cut, as well as other measures of monetary easing including loosening restrictions on lending amid concerns of deflation caused by domestic market oversaturation, which may trigger debt defaults, business contraction and growing unemployment.

In a surprising move Beijing cut the interest rate by 40 basis points, down to 5.6%, in order to prevent defaults on provincial government debts, according to some sources, quoted by Reuters. This is the first direct monetary policy measure in more than two years, reflecting Beijing’s shift from moderate and mostly indirect stimulus toward more decisive efforts to stabilize the economy.

“Top leaders have changed their views” on monetary policy, a high-ranking economist close to China’s government told Reuters. The source also said that the People’s Bank of China is considering options of further rate cuts, as well as a decrease in the commercial bank reserve requirement ratio (RRR), which would allow the banking sector to issue new loans at lower capitalization levels. China has cut the RRR for several major banks this year, however, the decision did not affect the whole lending industry.

China’s leaders had been reluctant to implement policies of monetary easing over concerns of debt risks and the real estate bubble, but as the property sector cooled in recent weeks, Chinese officials have turned their eyes to poor growth prospects. The world’s second largest economy has slowed to an annualized 7.3% and growth may plunge below 7%, a perspective that would severely undermine its sustainability. The government in Beijing ha practiced targeted liquidity injections and selective easing for individual banks before it became clear that broader action is necessary to prevent economic disaster. According to some estimates, China’s export-oriented economic model requires at least an 8% annualized growth, or else the nation’s economy will not be able to sustain multiple domestic crises.

"GDP growth is near 7 percent which is at a dangerous level given it could still go even lower due to structural reforms," Li Xunlei of Haitong Securities told Reuters. "The rate cut helped boost confidence in next year's growth outlook," he added.

The export-oriented model is not working for China anymore as global demand for Chinese produced goods has slumped due to other nations offering competitive cheap labor for the international market of manufactured goods. This situation has caused a near-deflation situation in China as producer prices have decreased for roughly three years already, leveraging pressure on manufacturers, as even local consumers do not hurry to spend money.

However, lower interest rates also bring several significant risks for mainland China’s economy. First, lower interest means lower profits for the financial sector in general, and many banks are already struggling with rising bad loans. Jiang Jianqing, chairman of the Industrial and Commercial Bank of China (ICBC), said that the PBoC move would “inevitably squeeze banks’ profit margins”, as quoted by Financial Times. “Narrower margins are a long-term trend,” he added.

Second, China’s rate cuts triggered a dramatic depreciation of the renminbi, stalling its gradual revaluation that started in 2005. The renminbi’s rally that started this May, attracted multiple FX investors as yields of renminbi-denominated assets were higher compared to ones of dollar-denominated assets, which provided an influx of “hot money” into China. Now this capital flow has dried out, according to a Reuters report. The liquidity-starved China therefore may require additional monetary stimulus, which may trigger a vicious circle of unfavorable international conditions paired with an exacerbation of domestic risks.

Third, further monetary easing may fuel bubbles in real estate and other assets, though the threat of this risk has been somewhat alleviated by the general economic slowdown, which has  cooled demand for overvalued assets.

China is expected to conduct painful structural reforms sometime in 2015, which would shift its economic growth model from export-driven to a domestic demand-based one. These reforms are to be agreed upon at the next plenary assembly of the nation’s political leadership in December and is expected to be announced next March. Beijing underpins the urge to ensure sustainable growth with considerations of foreign policy.

"China is keen to play a bigger role within G20 and it needs to maintain relatively fast economic growth," Zhao Xijun of Renmin University said as quoted by Reuters.

China Building South China Sea Island Big Enough for Airstrip, Says IHS Jane's
Nov 24th, 2014
Daily NewsSydney Morning Herald
Categories: Today's Headlines;Contemporary Issues

Contentious: Chinese fishing boats are shown in the Spratly Islands, which is also claimed by Taiwan, Vietnam, Malaysia, the Philippines and Brunei. Photo: AFP

Washington: Satellite images show China is building an island on a reef in the disputed Spratly Islands large enough to accommodate what could be its first offshore airstrip in the South China Sea, a leading defence publication said.

The construction has stoked concern that China may be converting disputed territory in the mineral-rich archipelago into military installations, adding to tensions in waters also claimed by Taiwan, Malaysia, the Philippines, Vietnam and Brunei.

Dredgers had created a land mass almost the entire length of the reef. 

Defence and security analysts IHS Jane's said images it had obtained showed the Chinese-built island on the Fiery Cross Reef to be at least 3000 meters long and 200-300 metres wide, which it noted is "large enough to construct a runway and apron".

The building work flies in the face of US calls for a freeze in provocative activity in the South China Sea, one of Asia's biggest security issues. Concern is growing about an escalation in disputes even as claimants work to establish a code of conduct to resolve them.

Dredgers were also creating a harbour to the east of the reef "that would appear to be large enough to receive tankers and major surface combatants," it said.

The land reclamation project was China's fourth in the Spratly Islands in the last 12 to 18 months and by far the largest, IHS Jane's said. It based its findings on images taken on August 8 and November 14, showing that dredgers had created a land mass almost the entire length of the reef.

Beijing has rejected Washington's call for all parties to halt activity in the disputed waters to ease tensions, saying it can build whatever its wants in the South China Sea.