Thursday, January 12, 2012

Pakistan's Musharraf to return this month

Former President Pervez Musharraf announced Sunday he would return to Pakistan later this month and prepare for elections, something that could add to political turbulence in an already tense atmosphere in the country.

Musharraf's first challenge may be to avoid arrest on his arrival.

On Saturday, state prosecutors said they planned to detain the former army chief on charges he failed to provide security for former Prime Minister Benazir Bhutto ahead of her assassination in 2008. While much remains unpredictable, commentators have speculated that the army will not allow Musharraf to be arrested, setting up fresh conflict between it and the unpopular government of President Asif Ali Zardari.

Musharraf told several thousand supporters in Karachi by telephone on Sunday he would return between Jan. 27 and Jan. 30.

In apparent reference to the charges against him, he said: "I am coming to Pakistan, but there are attempts to scare me off. There are baseless cases against me, but we will face those cases in court."

Musharraf took power in a 1999 coup and stepped down in 2008. He has been living in London and Dubai since then, planning a comeback.

Legal troubles aside, few give him much chance of success.

Musharraf was widely disliked by the time he stepped down, and many of his supporters have since joined other parties.

But he has money, and his army connections still count for something, even if it is unclear whether the current military leadership will support him.

Elections are not scheduled until 2013, but there has been increasing speculation that Zardari may go to the polls this year.

Zardari is under pressure from the military over a memo sent to Washington seeking its help in stopping a supposed coup.

On Saturday, Zardari said he had no intention of stepping down over the memo scandal, as critics have called on him to do.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://www.msnbc.msn.com/id/45918212/ns/world_news-south_and_central_asia/

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Israel Charges 5 Settlers in Clash at Army Base

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Source: www.nytimes.com --- Sunday, January 08, 2012
The indictment was the first sign of a promised crackdown on settlers whose increasingly provocative actions have been described by some Israeli officials as homegrown terrorism. ...

Source: http://www.nytimes.com/2012/01/09/world/middleeast/israel-charges-5-settlers-in-clash-at-army-base.html?partner=rss&emc=rss

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Wednesday, January 11, 2012

Pakistani court warns premier over graft probe

Pakistani security personnel inspect the site of explosion in Pakistani tribal area of Khyber near Peshawar, Pakistan on Tuesday, Jan 10, 2012. A bomb targeting a militia opposed to the Pakistani Taliban exploded in a market close to the Afghan border Tuesday, killing 25 people in the deadliest blast in the country in several months, officials said. (AP Photo/Mohammad Sajjad)

Pakistani security personnel inspect the site of explosion in Pakistani tribal area of Khyber near Peshawar, Pakistan on Tuesday, Jan 10, 2012. A bomb targeting a militia opposed to the Pakistani Taliban exploded in a market close to the Afghan border Tuesday, killing 25 people in the deadliest blast in the country in several months, officials said. (AP Photo/Mohammad Sajjad)

People visit the site of explosion in Pakistani tribal area of Khyber near Peshawar, Pakistan on Tuesday, Jan 10, 2012. A bomb targeting a militia opposed to the Pakistani Taliban exploded in a market close to the Afghan border Tuesday, killing many people in the deadliest blast in the country in several months, officials said. (AP Photo/Mohammad Sajjad)

A Pakistani girl sits outside closed shops after an explosion in Pakistani tribal area of Khyber near Peshawar, Pakistan on Tuesday, Jan 10, 2012. A bomb targeting a militia opposed to the Pakistani Taliban exploded in a market close to the Afghan border Tuesday, killing many people in the deadliest blast in the country in several months, officials said. (AP Photo/Mohammad Sajjad)

(AP) ? Pakistan's top court said Tuesday it could dismiss the prime minister unless he begins corruption proceedings against the president, opening another front against a government already under pressure from the army.

The political turmoil comes as the nuclear-armed country is struggling with urgent economic and security challenges and a deteriorating relationship with the United States, which believes Islamabad's help will be crucial in ending the war in Afghanistan.

Hours before the Supreme Court ruling, Islamist militants bombed a tribal militia opposed to the insurgency in its heartland close to the Afghan border, killing 30 people and proving the resilience of extremists despite repeated army offensives and U.S. missile strikes since 2008.

The conflict with the court has been brewing since 2009, when judges struck down an amnesty protecting President Asif Ali Zardari and hundreds of other politicians from prosecution on graft and other charges and ordered cases against them reopened.

The government has dragged its feet on doing this, arguing that the president has immunity from prosecution.

Some independent commentators say the Supreme Court, which has on three occasions in the past sanctioned military coups, is hostile to the current administration and is working with the army to oust it through constitutional means.

They say political pressure is growing to topple the government before Senate elections scheduled for March, which are expected to give Zardari's party a majority in the upper house that will give him significant political power for the next six years, regardless of whether the party performs badly in general elections next year or sooner.

A five-judge panel accused the government of "willful disobedience" and said "the buck stops" at the office of Prime Minister Yousuf Reza Gilani, whom it called "dishonest." The ruling warned that the court could declare him unfit to hold office and dismiss him if he does not implement its earlier verdicts.

It ordered the attorney general to appear before the court next week to explain the government's foot dragging.

Government lawmaker Babar Awan dismissed the ruling but didn't say what the government's strategy would be.

It may decide to cooperate on a limited scale with the court, seeking to drag out the affair until after the Senate elections or beyond.

It is also unclear whether the court has the appetite to dismiss a democratically elected government, despite its rhetoric.

"Only the people of Pakistan have the right to decide who is popular and who is unpopular in the country, and who is honest and who is dishonest," Awan said soon after it was announced.

Zardari is a major beneficiary of the graft amnesty, which was part of a broader U.S.-backed deal to allow his wife, the late Prime Minister Benazir Bhutto, and her allies to return to Pakistan in 2007 and take part in elections safe from prosecution on charges they said were politically motivated.

The Supreme Court has zeroed in on one case taken up by the Swiss government against Zardari but halted in 2008 under the amnesty. Zardari and Bhutto were found guilty in absentia in a Geneva court in 2003 of laundering millions of Swiss francs. They were handed six-month sentences and fined. Both punishments were automatically suspended when they appealed.

The court has ordered the government to contact Swiss authorities to reopen the case. Swiss prosecutors have told reporters that this is impossible because Zardari has immunity.

Zardari also has been threatened by another scandal surrounding a memo sent to Washington last year seeking its help in reining in the Pakistani army. The Supreme Court is investigating that note, which some in the right-wing, pro-army media have dubbed "treasonous."

Pakistan's envoy to Washington, Husain Haqqani, was alleged to have masterminded the memo. He resigned late last year, seeking to limit its fallout. If the court states Zardari knew about the memo, it could open up another avenue for his foes to challenge his rule.

The bomb in the northwest hit vehicles being used by an anti-Taliban militia in the Khyber region, said local security officer Khan Dad Khan. It killed 30 people and wounded 51, said local government official Jamil Khan.

The army has supported the formation of anti-Taliban militias in northwest Pakistan, but the insurgents have ruthlessly attacked the groups over the last two years. Many of the country's bloodiest bombings have targeted militia members or their families.

Shopkeeper Sharif Gul said the blast ignited a huge fire.

"People were burning," he said at a hospital in Peshawar, the main town in the northwest. "There was nothing to put out the fire."

Islamist militants with links to al-Qaida have carried out hundreds of bombings in Pakistan since 2007, killing many hundreds of soldiers, police, government officials and civilians.

The Pakistani army has carried out offensives against the militants in their strongholds in tribally administered regions like Khyber, but the insurgents have proven to be a resilient foe. There have been conflicting reports of peace talks between some insurgent factions and the government in recent months.

The last major bombing happened in September close to the Swat Valley, when a suicide bomber hit a funeral of a tribal elder opposed to the Taliban. The attack killed 31 people.

___

Associated Press writers Riaz Khan in Peshawar and Zarar Khan in Islamabad contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-01-10-AS-Pakistan/id-6f275404baab4249aa96641d00da73e4

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Tuesday, January 10, 2012

Nokia, Microsoft Boosted by Bullish Credit Suisse Report on Windows Phone

Nokia's (NYSE: NOK??) partnership with Microsoft (Nasdaq: MSFT??) to use Windows Phone may begin to pay off this year as operators search for a third operating system to complement Apple's iOS and Google's Android, according to a new report from analysts at Credit Suisse.

"We fundamentally believe that Nokia's focus on Windows will allow the company to drive a recovery through 2012 in both its top line and earnings," Credit Suisse wireless analyst Kulbinder Garcha wrote in a note to clients, according to MarketWatch. Credit Suisse boosted its rating on Nokia's shares to "outperform" from "underperform" and raised its price target.

Of particular interest, Garcha said that research among mobile operators indicates that they want Windows Phone to become the proverbial "third ecosystem" in a market that is increasingly dominated by Apple's and Google.?"We found that 85% of carrier respondents believe that there is a need for a third ecosystem, with 77% noting that it will be Windows Phone/Nokia," Garcha wrote. "Our survey also showed that both subsidy and volume share is expected to be markedly higher for Windows Phone over the next 12 months."

Commenting on Nokia's new Lumia 800 smartphone, Garcha said that it offered "sensible and aggressive pricing" at 180 to 300 euros before subsidies. He added, in a report carried by Barron's, that the "quality of the Windows platform is quite good, which, combined with Nokia's brand, distribution, scale, and IPR, should enable it to capture smartphone share."

The Credit Suisse analyst was also positive on the likely growth in sales of Nokia's success with Windows Phone handsets, claiming they would outpace Symbian-based devices by the third quarter of this year.

Separately, Nokia reportedly appears ready to replace outgoing Chairman Jorma Ollila with Risto Siilasmaa. Both Bloomberg and Finnish newspaper?Helsingin Sanomat reported last week that Siilasmaa is the top choice for the post. Siilasmaa has been a board member of Nokia since 2008 and is also founder and chairman of F-Secure, a Finnish computer security software company, as well as chairman of Finnish telecoms company Elisa.

This article originally published here. Get your wireless industry briefing here.

Source: http://feeds.fool.com/~r/usmf/foolwatch/~3/cYPDizrj_hQ/nokia-microsoft-boosted-by-bullish-credit-suisse-r.aspx

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Sunday, January 8, 2012

Asia stocks down as euro debt woes multiply

(AP) ? Asian stock markets faltered Friday amid worries over the health of Europe's banks and fears that the continent's debt crisis might be spreading beyond a handful of small economies.

Japan's Nikkei 225 Index fell 1 percent to 8,401.32. Hong Kong's Hang Seng index fell 1.4 percent at 18,556.38. South Korea's Kospi fell 1.6 percent to 1,834.70.

Benchmarks in mainland China, Singapore, Taiwan and Indonesia also fell.

Investment sentiment soured Thursday after Europe ? which dominated so many of 2011's financial headlines ? became a concern again.

Trading in UniCredit, a large Italian bank, was halted after the stock lost a quarter of its value. The bank said Wednesday that it would need to offer huge discounts to investors to raise money.

And a financial crisis deepened in Hungary, which had to pay a staggeringly high interest rate of 10 percent on its 12-month debt. That is far above the 7 percent level that forced Greece and Portugal to seek bailouts.

Taken together, the news raised fears that Europe's debt crisis would spread from small countries such as Greece and infect much larger ones such as Italy that are too big to be bailed out.

In the U.S. on Thursday, investors were encouraged by a report on the U.S. job market. Weekly unemployment claims declined again, one day before a crucial report on the national jobs picture in December.

The Dow Jones Industrial Average had a tiny decline to end at 12,415.70. The Standard & Poor's 500 index rose 0.3 percent to close at 1,281.06. The tech-heavy Nasdaq rose 2.5 percent to 2,669.86.

Benchmark oil for February delivery fell 40 cents to $101.38 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell by $1.41 to end Thursday at $101.81 in New York.

In currency trading, the euro rose to $1.2795 from $1.2782 late Thursday in New York. The dollar was steady at 77.18 yen.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-01-05-World-Markets/id-0178ce7b69394b42a508c5fd99058a70

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