How China Is Advancing Its Military Reach

January 20, 2012 by ·

As the US shifts its focus to Asia, Alexander Neill, head of the Asia Security Programme at the Royal United Services Institute, sets out the Chinese military advances challenging the regional balance.

At the Pentagon recently, US President Barack Obama announced deep cuts to the US military and set out a shift in attention towards the Asia-Pacific region, in a thinly-veiled message to China.

Despite a narrative of peaceful intent, China’s leaders have struggled to reassure the US over the direction of the People’s Liberation Army (PLA). Both countries admit that their military dialogue falls well behind other aspects of the relationship. [Read more...]

Filed Under: Foreign Policy, People, Technologies ·

Greenpeace Urges Government To Halt ‘Reckless’ Arctic Oil Rush

January 19, 2012 by ·

At a special House of Commons hearing, ministers will be asked to reconsider support for Cairn Energy drilling in the far north

The government will be urged on Wednesday to help build a more sustainable world by putting a brake on the oil industry’s “reckless” race to the Arctic.

At a special House of Commons hearing, Greenpeace will tell ministers to reconsider their support for Cairn Energy and other companies drilling in the far north unless they attach the most stringent operating conditions. [Read more...]

Filed Under: Energy, Environment, Nature ·

Electric Car Innovation Could Pump Range Up To 500 Miles

January 18, 2012 by ·

IBM Corp. might in a few years have a product that could drastically increase the driving range of electric vehicles such as the ones that Loveland-based Amp Electric Vehicles makes.

IBM’s lithium-air batteries, which have more than 1,000 times the energy density of typical lithium-ion batteries, could push the range to 500 miles, New Scientist reports.

That would solve one of the major barriers that electric-vehicle manufacturers face in attracting a large-scale customer base. Current technology provides a range of only about 100 miles before the vehicle needs to be charged again. [Read more...]

Filed Under: Cars/Vehicles, Industry ·

Markets Shrug Off S&P Downgrades, Focus On Greece

January 17, 2012 by ·

European markets responded calmly to Standard & Poor’s decision to cut the credit ratings of a number of euro countries as France managed to tap bond market investors Monday despite the loss of its cherished triple-A rating.

The downgrades, which were based on concerns over Europe’s ability to handle its two-year debt crisis and the lack of economic growth, had been anticipated for weeks so the market impact was muted, especially since the U.S. is on holiday for Martin Luther King Jr. Day.

Europe is set to remain the focus of attention all week as a number of bond auctions are due and Greece tries to clinch a debt deal with its private creditors. Last October, Greece’s partners in the eurozone sanctioned a deal whereby Greece’s creditors agree to take a cut in the value of their Greek bond holdings to help lighten the country’s debt burden. [Read more...]

Filed Under: Investments, Stock Market ·

Don’t Cross The Red Line: US Warns Iran’s Khamenei

January 16, 2012 by ·

US warns Iran’s Khamenei Washington: US has warned Iran’s Supreme leader Ayatollah Ali Khamenei that any move to close the strategic Strait of Hormuz would amount to crossing the “red line” that would provoke an American response.

The warning was conveyed to the top Iranian brass through a secret channel, The New York Times reported quoting senior US officials, who declined to describe the unusual contact.

The NYT said senior Obama administration officials have publicly said that Iran would cross a red line if it made good on recent threats to close the Strait through which 16 million barrels of oil – about a fifth of world’s daily oil trade – passes every day. [Read more...]

Filed Under: Foreign Policy, Government ·

Iran Warns Gulf Arabs On Oil

January 15, 2012 by ·

Iran warned Gulf Arab oil producers against boosting production to offset any potential drop in Tehran’s crude exports in the event of an embargo affecting its oil sales, the latest salvo in the dispute between the West and the Islamic Republic over its nuclear program.

The comments by Iran’s OPEC governor, published Sunday, came as Saudi Arabia’s oil minister was quoted the same day denying that his country’s earlier pledges to boost output as needed to meet global demand was linked to a potential siphoning of Iranian crude from the market because of sanctions.

World oil markets have been jolted over concerns that Iran may choke off the vital Strait of Hormuz in retaliation for sanctions hampering its ability to sell its oil. Saudi Arabia and other key Gulf Arab producers have recently said they are ready to provide stable and secure supplies of oil. [Read more...]

Filed Under: Energy, Foreign Policy, Industry ·

Gold Edges Lower As Euro Zone Fears Ease

January 14, 2012 by ·

Despite the losses, bullion was still headed for a second straight week of gains on safe-haven buying as investors fretted about the euro zone debt crisis and tensions between Iran and the West, amid fresh fund inflow at the beginning of the year

Gold drifted lower on Friday as fears about the health of the global economy abated after successful debt sales by Spain and Italy encouraged investors to put their money in riskier assets.

Spot gold fell as much as nearly 1% to an intra-day low of $1 634,34 an ounce, before paring some losses after the euro resumed a rally and the dollar weakened against a basket of currencies. [Read more...]

Filed Under: Business, Economy, Precious Metals ·