Global News Journal

Financial crisis: What you see depends on where you stand

September 19, 2008

lehman.jpgDepending on where you stand, the financial crisis has been catastrophic or brought a much needed shake out in the financial sector; it has been disastrous for home owners or proved the folly of lending to people with poor credit histories; it has rightly rolled back the clock on naked capitalism or undermined a system that, in essence, functions perfectly well; it has punished bankers’ hubris or thrown many talented individuals out of work.

Israel: The victory party that wasn’t

September 18, 2008

livni2.jpgHundreds of supporters and reporters waited for hours overnight at a banner-festooned hangar-like building in
Tel Aviv for a victory speech that never materialised from the ruling Kadima party’s newly elected leader, Tzipi Livni.

Is Mbeki’s time up?

September 17, 2008

Thabo Mbeki, president of South Africa, speaks during a news conference at United Nations headquarters in New York

South African President Thabo Mbeki did not get to bask long in the success of securing Zimbabwe’s power-sharing deal before finding himself in the firing line again at home.

from Africa News blog:

Niger Delta: a widening war?

September 17, 2008

niger_delta_militants2.jpgRebels fighting for greater control of Nigeria's oil wealth have raised the stakes in their campaing of bombings and kidnappings by threatening to extend attacks to offshore oil installations. Nigeria's most prominent militant group earlier announced the launch of an "oil war" against oil companies and security forces in the restive Niger Delta. The four-days of fighting since the announcement have been the heaviest since the Movement for the Emancipation of the Niger Delta began its campaign of violence against the oil sector in early 2006. International oil markets, depressed in recent days by the impact of the credit crisis on the global economy, finally began taking notice of the escalating violence in Nigeria's oil-producing region on Wednesday.

from Pakistan: Now or Never?:

Should the Afghans be talking to the Taliban?

September 16, 2008

Afghan President Hamid Karzai used a Sept 11 address last year to appeal to the Taliban to come for talks and end bloodshed in the war-torn nation.

Iraq’s hot summer adds to challenge of Ramadan fast

September 15, 2008

When I was nine years old, I began fasting during the Muslim holy month of Ramadan. It is a religious duty I love to carry out each year, to experience the sense of unity with Muslims who don’t eat or drink from dawn until sunset.

from Africa News blog:

How quickly can Zimbabweans expect economic change?

September 15, 2008

zimbabwe_talks_handshake.jpgFor Zimbabwe's long-suffering people, the true meaning of the signing of a power-sharing agreement between President Robert Mugabe's ZANU-PF and the opposition MDC would be how quickly it leads to an improvement in their daily lives. An economic crisis that began in 1998 has turned the once prosperous Southern African country into a basket case economy with the world's highest inflation at over 11 million percent. Millions of Zimbabwean's who have fled across the borders to escape unemployment and severe shortages are waiting to see if the political deal will result in economic rebound paving the way for their return.

from Pakistan: Now or Never?:

Facing up to “the war in Pakistan”

September 14, 2008

Masked pro-Taliban Pakistani militantsThere has been much hesitation in the world's media about how to label U.S. military action inside Pakistan's borders, including a reported ground raid and a series of missile strikes. Do you call it an "invasion"? Or use the more innocuous-sounding "intervention"? In an editorial, the Washington Post gives it a name which is rather striking in its directness. It calls it quite simply, The War in Pakistan.

from Pakistan: Now or Never?:

Nudging India and Pakistan towards peace

September 13, 2008

Barricade of burning tyres in Srinagar/Fayaz KabliOne of the more recurrent themes in U.S. political punditry these days is the need to nudge India and Pakistan towards peace. The theory is that this would bolster the new civilian government in Islamabad by encouraging trade and economic development, reduce a rivalry that threatens regional stability, including in Afghanistan, and limit the role of the Pakistan Army, whose traditional dominance has been fuelled by a perceived threat from India.

What chance for Zimbabwe’s deal?

September 11, 2008

President Robert MugabeThere have been so many swings from optimism to pessimism and back again, that Zimbabweans might find it hard to believe there finally appears to be a power-sharing deal after two months of talks.