 US Treasury Secretary Henry Paulson is due to arrive in China on his first visit to the country since taking up the post in July. Many US politicians believe China's currency, the yuan, is undervalued, and have called for higher import duties on Chinese goods. However, that is unlikely to become law or receive the backing of Mr Paulson. The treasury secretary has made clear he will not be looking for any "quick fixes" to China's currency situation. Mr Paulson is no stranger to China. He has visited here around 70 times in the past 15 years, but this is his first visit since he left his job as chairman of Goldman Sachs bank to become treasury secretary. Some politicians and union leaders in the US believe the yuan's value makes China's exports unfairly cheap and costs American jobs. Two US senators are proposing a 27% tariff on all Chinese goods coming into America. ...
http://news.bbc.co.uk
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Editor - 20:28:00 09-18-06
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 Poor Nations Lament at U.N. That Least Developed Nations Experiencing Increases in Poverty |
Many of the world's poorest countries lamented at a U.N. ministerial meeting Monday that some of the least developed nations are experiencing increases in extreme poverty. A day before world leaders gather for their annual meeting, the U.N. General Assembly held a high-level session to focus on progress toward implementing a 10-year action plan for the least developed countries adopted in 2001. "The list of the least developed countries keeps growing," said President Maumoon Abdul Gayoom of the Maldives. "With the high speed of globalization, the gap between the north and the south is ever increasing. Can the rich afford to help the poor?" ...
http://abcnews.go.com/International/wireStory?id=2461261
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Editor - 20:16:00 09-18-06
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| Air Force to Test Coal-Based Jet Fuel at Edwards Air Force Base in California |
The Air Force is scheduled Tuesday to test a new jet fuel made from coal instead of oil. A B-52 bomber at Edwards Air Force Base in California is expected to take off with two of its eight jet engines burning a 50-50 blend of synthetic and oil-based fuel. Research on the fuel project has been conducted at Wright-Patterson Air Force Base in Dayton. The goal is to develop, test and pave the way to commercialize the fuel. The research is focused on the Fischer-Tropsch process for producing synthetic kerosene from coal. The military wants a fuel that works with engines, fuel systems and supply infrastructure already in the field. Known since the 1920s, the process produces clean-burning fuel, but it hasn't been economical, Harrison said. High fuel prices are making it more attractive, and the Pentagon hopes it can help jump-start an industry by earmarking funds for synthetic jet fuel starting in 2008. ...
http://abcnews.go.com/US/wireStory?id=2461302
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Editor - 19:59:00 09-18-06
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| Generals die in Nigeria air crash |
Ten of Nigeria's most senior army commanders have died when their military plane crashed near the south-eastern town of Obudu. Those killed include eight major generals and two brigadier generals, the authorities said. President Olusegun Obasanjo called the crash a "monumental tragedy" and is flying home early from the World Bank conference in Singapore. Two other officers also died, while at least four survived, the military says. There were 18 people on board the Dornier 228 aircraft when it crashed into a hill 18 nautical miles from Obudu after flying from the capital, Abuja. The private meeting had been ordered by the new chief of army staff to discuss the challenges facing the military. Just how big an army do they need. If they have 10 Generals to command it, it is either very large, or just like most armies today top heavy with Generals...
http://news.bbc.co.uk/2/hi/africa/5355534.stm
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Editor - 13:50:00 09-18-06
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| Business owners sue rivals that hire illegals |
Business owners frustrated by lax enforcement of immigration laws are taking their fight to court, accusing competitors of hiring illegal workers to achieve an unfair advantage. The legal action is an attempt by business and anti-illegal-immigration groups to create an economic deterrent against hiring illegal employees. In the first of a series of lawsuits, a temporary employment agency that supplies farm workers sued a grower and two competing companies on Monday. Similar cases claiming violations of federal anti-racketeering laws have yielded mixed results. The California lawsuit is thought to be the first based on a state's unfair-competition laws, legal analysts said. Santa Monica, Calif.-based Global Horizons claimed in the lawsuit that Munger Brothers, a grower, hired illegal alien workers from Ayala Agricultural Services and J&A Contractors. All the defendants are based in California's farm-rich Central Valley. The suit claims that Munger Brothers had a contract ...
http://washingtontimes.com/business/20060822-115538-1988r.htm
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Editor - 13:07:00 09-18-06
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| China ups Lebanon force to 1,000 |
China will increase its peacekeeping presence in Lebanon to 1,000 troops, Premier Wen Jiabao has confirmed. The move would make China one of the largest contributors to a strengthened UN force designed to keep the peace. It would also signal that China, now the world's fourth largest economy, was starting to lift its diplomacy in areas it had previously not seen as vital. The UN wants to raise troop numbers in southern Lebanon to 15,000 as part of UN Security Council Resolution 1701. It follows August's UN-brokered truce which ended 34 days of fighting between Israel and the militant Hezbollah movement. More than 1,100 Lebanese - mostly civilians - were killed during the war. More than 150 Israelis - mainly soldiers - were also killed. ...
http://news.bbc.co.uk/2/hi/asia-pacific/5355128.stm
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Editor - 11:21:00 09-18-06
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