Tuesday, December 6, 2011

Romney says Attorney General Holder should quit

Attorney General Eric Holder shakes hands with Daily Caller reporter Neil Munro, left, as Munro asks him about calls for Holder's resignation over an investigation of arms traffickers called Operation Fast and Furious after an event on counterfeit goods at the Eisenhower Executive Office Building across from the White House in Washington, Tuesday, Nov. 29, 2011. (AP Photo/Charles Dharapak)

Attorney General Eric Holder shakes hands with Daily Caller reporter Neil Munro, left, as Munro asks him about calls for Holder's resignation over an investigation of arms traffickers called Operation Fast and Furious after an event on counterfeit goods at the Eisenhower Executive Office Building across from the White House in Washington, Tuesday, Nov. 29, 2011. (AP Photo/Charles Dharapak)

(AP) ? Republican presidential candidate Mitt Romney is calling on President Barack Obama's attorney general to resign because of the flawed law enforcement initiative aimed at dismantling major arms trafficking networks on the Southwest border.

Romney tells reporters after a rally in New Hampshire that Eric Holder has misled Congress and has "brought shame" on the Justice Department through his handling of Operation Fast and Furious.

Operation Fast and Furious involved more than 2,000 weapons purchased by straw buyers at Phoenix-area gun stores. Nearly 700 of those guns have been recovered ? 276 in Mexico and 389 in the United States, according to ATF data as of Oct. 20.

Controversy erupted over the intitiative after two assault rifles turned up at an Arizona shootout where border agent Brian Terry was killed.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2011-12-03-Romney-Attorney%20General/id-04ed1d3513704856ad46f3cb551c03bd

anne mccaffrey amazon promotional code artificial christmas trees bean bag chairs android tablet arthur christmas asus transformer

US official: American drone in Iranian hands

By NBC News and wire reports

Iran's military has recovered an super-secret American stealth drone after the unmanned vehicle flew out of control and crashed inside Iran, NBC News reported Monday, citing a senior U.S. official.

According to the official, the RQ-170 drone was flying inside Afghanistan along the Iranian border, when ground commanders "lost control" of the aircraft. It took a "hard turn" into Iran and ultimately crashed, the source said.

Iranian media reported on Sunday that their country's military had shot down a U.S. reconnaissance drone in eastern Iran, but a U.S. official said there was no indication the aircraft had been shot down.

The incident comes at a time when Tehran is trying to contain foreign outrage at the storming of the British embassy on Tuesday, after London announced sanctions on Iran's central bank in connection with Iran's nuclear enrichment program.

Iran has announced several times in the past that it shot down U.S., Israeli or British drones, in incidents that did not provoke high-profile responses.

"Iran's military has downed an intruding RQ-170 American drone in eastern Iran," Iran's Arabic-language Al Alam state television network on Sunday quoted a military source as saying.

"The spy drone, which has been downed with little damage, was seized by the Iranian armed forces," the source said. "The Iranian military's response to the American spy drone's violation of our airspace will not be limited to Iran's borders."

Iranian officials were not available to comment further.

NATO's International Security Assistance Force in Afghanistan said in a statement: "The UAV (unmanned aerial vehicle) to which the Iranians are referring may be a U.S. unarmed reconnaissance aircraft that had been flying a mission over western Afghanistan late last week.

Reuters contributed to this report.

?

Source: http://worldnews.msnbc.msn.com/_news/2011/12/05/9226787-senior-us-official-american-drone-in-iranian-hands

zuccotti park leymah gbowee will rogers gabby giffords gabby giffords hunger games trailer hunger games trailer

Monday, December 5, 2011

Obama prods GOP on payroll tax cut (AP)

WASHINGTON ? President Barack Obama accepted a move by Senate Democrats to scale back his Social Security payroll tax cut extension on Monday, then prodded Republicans to support it despite a requirement for the very wealthy to pay more taxes.

Obama also called on lawmakers to renew a program of extended unemployment benefits due to expire on Dec. 31. He said the checks, which kick in after six months of joblessness, are "the last line of defense between hardship and catastrophe" for some victims of the recession and a painfully slow recovery.

The president made his remarks at the White House as Republicans and Democrats in Congress said a holiday-season package was beginning to come into focus that could cost $180 billion or more over a decade. Elements include not only the payroll tax cut and unemployment benefit renewals, but also a provision to avert a threatened 27 percent reduction in fees to doctors who treat Medicare patients.

While there are differences over the details of the three principal components ? many Republicans are reluctant to extend the tax cut ? there is at least as much disagreement between senior lawmakers in the two political parties over ways to cover the cost so deficits don't rise.

Officials said that to offset the two-year, $38 billion price tag of the Medicare provision, House Republicans want to cut funds from the year-old health care legislation that stands as Obama's signature domestic policy accomplishment. Some Democrats want instead to count defense funds approved but unspent for the wars in Iraq and Afghanistan ? a proposal that many GOP lawmakers deem an accounting gimmick.

The Medicare proposal enjoys strong popularity among lawmakers in both parties. House Republican leaders signaled last week they intend to include it in the overall package as a sweetener for members of the party's rank and file who are unhappy at the prospect of extending the payroll tax cut.

GOP critics say there is no evidence that the current tax cut has helped create jobs, and also say they fear the impact of a renewal on the deficit and on the fund that pays Social Security benefits. A majority of Republican senators voted last week against a plan backed by their own leadership to extend the cut.

But Obama noted House Speaker John Boehner, R-Ohio, has said that the renewal would help the economy, and said the party's Senate leaders had made similar comments.

"I couldn't agree more. And I hope that the rest of their Republican colleagues come around and join Democrats to pass these tax cuts and put money back into the pockets of working Americans," the president said.

Obama also added, "I know many Republicans have sworn an oath never to raise taxes as long as they live. How could it be that the only time there's a catch is when it comes to raising taxes on middle-class families? How can you fight tooth and nail to protect high-end tax breaks for the wealthiest Americans, and yet barely lift a finger to prevent taxes going up for 160 million Americans who really need the help?"

He spoke as Senate Democrats unveiled revisions that cut the cost of the administration's proposal by one-third, to an estimated $179 billion. As rewritten, it deepens the current Social Security payroll tax cut and extends it until the end of 2012, but jettisons Obama's request to give businesses relief at the same time.

Republicans were critical despite the changes.

"Frankly, the only thing bipartisan about this latest political gambit is opposition to the permanent tax hike on small businesses to pay for temporary one-year tax policy," said Sen. Orrin Hatch, R-Utah, the senior Republican on the Senate Finance Committee. Republicans often refer to the proposal as a tax increase on small business owners in hopes of recasting Democratic claims that it would fall on "millionaires and billionaires."

Advanced by Sen. Bob Casey, D-Pa., the revised proposal also scales back the surtax on seven-figure earners that Democrats had originally proposed to cover the bill's entire cost, from 3.25 percent to 1.9 percent.

Also included are higher fees for consumers whose mortgages are from Fannie Mae and Freddie Mac, as well as a GOP proposal from last week to make sure millionaires don't receive unemployment benefits or food stamps.

___

Associated Press writers Andrew Taylor and Julie Pace in Washington contributed to this story.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ap/20111205/ap_on_bi_ge/us_congress_payroll_tax

avengers joost joost new hampshire debate how to get ios 5 how to get ios 5 eric holder

December Religious Holidays: It's the Most Wonderfully Holy Time of the Year

By Nancy Haught
Religion News Service

(RNS) A quick glimpse at a calendar is one way to see how religiously diverse the United States has become.

This year, December, a month that encompasses the Christian and Jewish celebrations of Christmas and Hanukkah, includes spiritually significant days for Muslims, Buddhists, Pagans and Zoroastrians.

Yes, Zoroastrians: Scholars estimate there are 6,000 followers of the centuries-old tradition in North America.

Here's a quick look at some of the sacred days that illuminate the last month of 2011.

Dec. 5, Ashura, the 10th day of the first month on the Islamic calendar. Sunnis, the largest group of Muslims, remember that the Prophet Muhammad fasted in solidarity with Jews who were observing Yom Kippur, the Day of Atonement. Shiites recall the death of Muhammad's grandson in battle, an event that led to their differences with the Sunnis.

Dec. 6, the feast of St. Nicholas. Some Christians revere the fourth-century bishop of Myra, a Greek province in Asia Minor. His reputation for piety may have inspired the legend of Santa Claus. The tradition of leaving gifts for children on St. Nicholas Day began in the Low Countries and spread to North America with Dutch immigrants.

Dec. 8, Bodhi Day. Buddhists recall that Siddhartha Gautama vowed to sit under a tree in what is now Bodhgaya, India, and not to rise until he was enlightened. The title Buddha means "awakened one."

Roman Catholics observe this day as the feast of the Immaculate Conception, believing that Mary, the mother of Jesus, was born without sin.

Dec. 12, the feast of Our Lady of Guadalupe. Observed by Catholics, especially those of Hispanic descent, the story of Guadalupe recounts a 16th-century apparition of Mary to Juan Diego, a poor Indian, on a hillside near what is now Mexico City.

Dec. 20, the Jewish festival of Hanukkah begins at sunset on this date and continues for seven more nights. It is a remembrance of an effort to restore the Temple in Jerusalem after a period of desecration. Faithful Jews found only enough oil to light the temple lamp for one day, but the flame burned for eight.

Dec. 21, Yalda, the Zoroastrian celebration of the winter solstice.

Dec. 22, Yule or winter solstice, the shortest day in the Northern Hemisphere. Juul, a pre-Christian festival observed in Scandinavia, featured fires lit to symbolize the heat, light and life-giving properties of the returning sun. Wiccans and other pagan groups celebrate Yule.

Dec. 25, Christmas, observed by Christians since the Middle Ages as the birth of Jesus. Some Orthodox Christians follow a different calendar, and Christmas may fall on a different date.

Dec. 26, Zoroastrians observe the death of the prophet Zarathushtra, known in the West as Zoroaster. Tradition says he lived in what is now Iran in about 1200 B.C. His teachings include the idea of one eternal God; seven powerful creations: sky, water, earth, plants, animals, humans and fire; and that life is a struggle between good and evil.

This is also the starting date for Kwanzaa, a weeklong, modern African-American and pan-African celebration of family, community and culture. For some people who keep Kwanzaa, the festival has spiritual overtones in its emphasis on imani, Swahili for "faith."

(Nancy Haught writes for The Oregonian in Portland, Ore.)

'; var coords = [-5, -72]; // display fb-bubble FloatingPrompt.embed(this, html, undefined, 'top', {fp_intersects:1, timeout_remove:2000,ignore_arrow: true, width:236, add_xy:coords, class_name: 'clear-overlay'}); });

Source: http://www.huffingtonpost.com/2011/12/02/december-religious-holidays_n_1126507.html

cnn debate kennedy assassination kennedy assassination jfk assassination pie crust recipe heritage foundation dancing with the stars results 2011

Sunday, December 4, 2011

Russians vote in election test for Vladimir Putin (Reuters)

VLADIVOSTOK, Russia (Reuters) ? Vladimir Putin's ruling party could see its vast parliamentary majority cut back in elections that began Sunday in the icy tundra and sparsely-populated swathes of Russia's far east.

At polling stations from the Arctic to the shores of the Pacific Ocean, the election will indicate the scope of fatigue with Putin's 12-year rule just three months before he asks voters to endorse his return to the Kremlin as president.

Russians interviewed by Reuters across the world's biggest country gave a mixed picture. Some expressed disgust with a parliamentary election they said was likely to be rigged while others said they supported Putin and his United Russia party.

"I support United Russia. I like Putin. He is the strong leader we need in our country," said Nikolai, a 33-year-old customs officer in Vladivostok, a port city of 600,000 people on the Pacific and the biggest city in Russia's Far East.

Some voters said they would vote for Just Russia or the Communists because they were disillusioned with Putin and his party, a trend that could cost United Russia dearly.

Polls show Putin's party is likely to win a majority but less than the 315 seats it currently has in the 450-seat lower house of parliament, known as the Duma.

If it gets less than two-thirds of seats, Putin's party would be stripped of its so called constitutional majority which allows it to change the constitution and even approve the impeachment of the president.

Opposition parties say the election is unfair because the authorities support United Russia with cash and television air time while they say vote rigging will be employed to boost United Russia's result.

Supporters say the former-KGB spy saved Russia during his 2000-08 presidency from the chaos of the immediate post-Soviet era and supplied the longest and steepest economic boom in a generation. He also crushed a rebellion in the southern region of Chechnya that tested the fabric of a federation spanning 9,000 Km (5,600 miles) from the Baltic to the Pacific.

Russian customs officers held the director of an independent election watchdog for 12 hours at a Moscow airport Saturday. The United States said it was concerned by "a pattern of harassment" against the watchdog.

PUTIN'S PARTY

Putin remains by far Russia's most popular politician and the 59-year old leader is the ultimate arbiter between the clans which control the world's biggest energy producer.

But his party has had to fight against opponents who have branded it as a collection "swindlers and thieves" and a growing sense of unease among voters at Putin's grip on power.

"I shall not vote. I shall cross out all the parties on the list and write: 'Down with the party of swindlers and thieves,'" said Nikolai Markovtsev, an independent deputy in the Vladivostok city legislature.

"These are not elections: this is sacrilege," he said, adding that the biggest liberal opposition bloc had been barred from the vote by the authorities.

Opponents say Putin has crafted a brittle political system which excludes independent voices and that Russians are growing tired of Putin's cultivated tough man image.

An outburst of boos and whistling at Putin by fans at a Moscow martial arts fight and a sharp fall in opinion poll ratings during the election campaign had raised concerns Putin may be losing his legendary political touch.

FAR EAST

Putin is almost certain to win the March 4 presidential election but signs of disenchantment are extremely worrying for the Kremlin's political managers. Putin's self-portrayal as the anchor of Russian stability hinges on his popularity.

In an attempt to reinvigorate his party, which President Dmitry Medvedev is leading into the election as part of a job swap announced in September, Putin has sent his closest allies to lead United Russia in some of Russia's 83 regions.

Conquered by the Eastern Slavs under the tsars in the 18th and 19th centuries, Russia's far east covers an area almost twice the size of India but has just 6.3 million inhabitants.

Russians in the region braved temperatures as low as minus 41 degrees Celsius (minus 42 Fahrenheit) to vote eight hours before polls opened in Moscow.

Chukchi reindeer herders living across the Bering Sea from Alaska began voting in late November as did some oil workers on rigs pumping the lifeblood of Russia's $1.9 trillion economy.

Putin sent First Deputy Prime Minister Igor Shuvalov to his native Far East to lead the ruling party's campaign in an area where one local journalist angered Medvedev during the campaign by appearing to imply the Far East was not even part of Russia. ($1 = 30.8947 Russian roubles)

(Writing by Guy Faulconbridge; Editing by Guy Faulconbridge)

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/nm/20111203/wl_nm/us_russia_election

devin hester shayne lamas cain velasquez gop debate dos santos snl boxing news

Saturday, December 3, 2011

Friday, December 2, 2011

Serendipitous news reading online is gaining prominence

Thursday, December 1, 2011

Traditional media, such as newspapers and television news, require readers and viewers to intentionally seek out news by picking up a newspaper or turning on the television. The Internet and new technologies now are changing the way readers consume online news. New research from the University of Missouri shows that Internet users often do not make the conscious decision to read news online, but they come across news when they are searching for other information or doing non-news related activities online, such as shopping or visiting social networking sites.

Borchuluun Yadamsuren, a post-doctoral fellow at the Reynolds Journalism Institute (RJI) in the University of Missouri School of Journalism, found a shift in the way people have begun to perceive online news. She says that while some people still have the perception of news as tied to traditional media, others now hold a much broader perception of news that goes beyond what is reported by professional journalists. Yadamsuren attributes this to the wide array of information available online.

"Incidental exposure to online news is becoming a major way for many people to receive information about news events," Yadamsuren said. "However, many people don't realize how their news reading behavior is shifting to more serendipitous discovery."

Using mixed method approach, Yadamsuren surveyed nearly 150 respondents with further interviews of 20 of those respondents to understand their incidental exposure to online news. She found that respondents experience incidental exposure to online news in three different contexts. The first group of respondents reported that they come across interesting news stories while they visit online news sites. Others report incidental exposure to online news in the context of non-news related activities such as checking email and visiting Facebook and other social networking sites. The third group of respondents reported that they stumble upon "unusual," "weird," "interesting," "bizarre," unexpected," "outrageous," or "off the wall" news stories while they are conducting their normal Internet searches.

Currently, Yadamsuren is studying the relationship between incidental exposure to online news and different demographic and technology-access related factors. Yadamsuren believes it is important for media organizations to place links to their news stories on different sites throughout the Internet to take advantage of serendipitious news consuming behavior to expand their readership.

Yadamsuren's study was presented at the Association for Education in Journalism and Mass Communication (AEJMC) 2011 and American Society for Information Science and Technology (ASIST) 2011 Annual Meetings. Her research was also published in Information Research. Her current research at RJI involves developing strategies for news organizations to engage younger generations with online news based on incidental exposure.

###

University of Missouri-Columbia: http://www.missouri.edu

Thanks to University of Missouri-Columbia for this article.

This press release was posted to serve as a topic for discussion. Please comment below. We try our best to only post press releases that are associated with peer reviewed scientific literature. Critical discussions of the research are appreciated. If you need help finding a link to the original article, please contact us on twitter or via e-mail.

This press release has been viewed 54 time(s).

Source: http://www.labspaces.net/115649/Serendipitous_news_reading_online_is_gaining_prominence

caroline manzo caroline manzo the haunting in connecticut ashram ashram merce cunningham saints

Monday, November 28, 2011

Rage grips Pakistan over NATO attack (Reuters)

ISLAMABAD/KABUL (Reuters) ? Fury spread in Pakistan Sunday over a NATO cross-border air attack that killed 24 Pakistani soldiers and could undermine the U.S. effort to wind up the war in Afghanistan.

Sunday night in Pakistan, more than 40 hours after the incident, many questions remained.

NATO described the killings as a "tragic unintended incident" and said an investigation was underway. A Western official and an Afghan security official who requested anonymity said NATO troops were responding to fire from across the border.

It's possible both explanations are correct: that a retaliatory attack by NATO troops took a tragic, mistaken turn in harsh terrain where identifying friend and foe can be difficult.

"All of this is extremely murky and needs to be investigated," said a U.S. official in Washington, who spoke on condition of anonymity. "Our goal today is ... that the investigation gets mounted in a way that is confidence-building on all sides."

Militants often attack from Pakistani soil or flee after combat across a porous border that NATO-led troops, under their United Nations mandate, cannot cross.

What is clear is the incident could undermine U.S. efforts to improve ties with Pakistan so that the regional power helps stabilise Afghanistan before NATO combat troops go home by the end of 2014.

The attack was the latest perceived provocation by the United States, which infuriated Pakistan's powerful military with a unilateral special forces raid that killed al Qaeda leader Osama bin Laden in May.

Thousands gathered outside the American consulate in the city of Karachi to protest against the NATO attack.

A Reuters reporter at the scene said the angry crowd shouted "Down with America." One young man climbed on the wall surrounding the heavily fortified compound and attached a Pakistani flag to barbed wire.

"America is attacking our borders. The government should immediately break ties with it," said Naseema Baluch, a housewife attending the demonstration. "America wants to occupy our country but we will not let it do that."

Pakistan buried the troops killed in the attack Sunday. Television stations showed coffins draped in green and white Pakistani flags in a prayer ceremony at the headquarters of the regional command in Peshawar, attended by army chief General Ashfaq Kayani.

The NATO attack highlights the difficulties faced by the United States as it tries to secure the unruly border area that is home to some of the world's most dangerous militant groups who have mastered the harsh mountainous landscape.

Around 40 troops were stationed at the outposts at the time of the attack, military sources said.

Militants targeting NATO forces have long taken advantage of the fact that the alliance's mandate ends at the border to either attack from within Pakistan or flee to relative safety after an attack.

Three Pakistani soldiers were killed last year by NATO gunships. NATO said then that its forces had mistaken warning shots from Pakistani forces for a militant attack.

In the latest incident, a Western official and a senior Afghan security official said NATO and Afghan forces had come under fire from across the border with Pakistan before NATO aircraft attacked a Pakistani army post, killing the soldiers.

"They came under cross-border fire," the Western official said, without identifying the source of the fire.

The Afghan official said troops had come under fire from inside Pakistan as they were descending from helicopters, which had returned fire.

Both officials asked not to be named because the attack is so sensitive.

Pakistan has said the attack was an unprovoked assault and has said it reserves the right to retaliate.

STRAINED RELATIONS

U.S. and NATO officials are trying to defuse tensions but the soldiers' deaths are testing a bad marriage of convenience between Washington and Islamabad.

Many Pakistanis believe their army is fighting a war against militants that only serves Western interests.

Foreign Minister Hina Rabbani Khar spoke with U.S. Secretary of State Hillary Clinton by telephone early Sunday to convey "the deep sense of rage felt across Pakistan" and warned that the incident could undermine efforts to improve relations, the Foreign Ministry said in a statement.

Pakistan shut down NATO supply routes into Afghanistan in retaliation for the incident, the worst of its kind since Islamabad uneasily allied itself with Washington following the Sept. 11, 2001, attacks on the United States.

Pakistan is the route for nearly half of NATO supplies shipped overland to its troops in Afghanistan. Land shipments account for about two thirds of the alliance's cargo.

A similar incident on Sept 30, 2010, which killed two Pakistani service personnel, led to the closure of one of NATO's supply routes through Pakistan for 10 days.

U.S. ties with Pakistan have suffered several big setbacks starting with the unilateral U.S. special forces raid in May that killed bin Laden in a Pakistani town where he had apparently been living for years.

Pakistan condemned the secret operation as a flagrant violation of its sovereignty, while suspicions arose in Washington that members of Pakistan's military intelligence had harboured the al Qaeda leader.

The military came under unprecedented criticism from both Pakistanis who said it failed to protect the country and American officials who said bin Laden's presence was proof the country was an unreliable ally in the war on militancy.

Pakistan's army, one of the world's largest, may see the NATO incursion from Afghanistan as a chance to reassert itself, especially since the deaths of the soldiers are likely to unite generals and politicians, whose ties are normally uneasy.

Pakistan's jailing of a CIA contractor, Raymond Davis, and U.S. accusations that Pakistan backed a militant attack on the U.S. embassy in Kabul have added to the tensions.

"From Raymond Davis and his gun slinging in the streets of Lahore to the Osama bin Laden incident, and now to the firing on Pakistani soldiers on the volatile Pakistan-Afghan border, things hardly seem able to get any worse," said the Daily Times.

Islamabad depends on billions in U.S. aid and Washington believes Pakistan can help it bring about peace in Afghanistan.

But it is constantly battling Anti-American sentiment over everything from U.S. drone aircraft strikes to Washington's calls for economic reforms.

"We should end our friendship with America. It's better to have animosity with America than friendship. It's nobody's friend," said labourer Sameer Baluch.

In Karachi, dozens of truck drivers who should have been transporting supplies to Afghanistan were idle.

Taj Malli braves the threat of Taliban attacks to deliver supplies to Afghanistan so that he can support his children. But he thinks it is time to block the route permanently in protest.

"Pakistan is more important than money. The government must stop all supplies to NATO so that they realise the importance of Pakistan," he said.

But some Pakistanis doubt their leaders have the resolve to challenge the United States.

"This government is cowardly. It will do nothing," said Peshawar shopkeeper Sabir Khan. "Similar attacks happened in the past, but what have they done?"

(Additional reporting by Zeeshan Haider in Islamabad, Izaz Mohmand and Aftab Ahmed in Peshawar, Imtiaz Shah in Karachi, and David Brunnstrom in Brussels; Writing by Michael Georgy; Editing by Peter Graff)

Source: http://us.rd.yahoo.com/dailynews/rss/india/*http%3A//news.yahoo.com/s/nm/20111128/india_nm/india607574

kyle orton best buy cyber monday deals 2011 cyber monday deals 2011 cybermonday deals cybermonday deals kourtney and kim take new york

edajobs: Recently posted Union #Jobs #In Illinois - http://bit.ly/toFNVd #fb in jobs

Identi.ca is a microblogging service brought to you by Status.net. It runs the StatusNet microblogging software, version 1.0.1, available under the GNU Affero General Public License.

Creative Commons Attribution 3.0 All Identi.ca content and data are available under the Creative Commons Attribution 3.0 license.

Switch to mobile site layout.

Source: http://identi.ca/notice/85853682

alaska weather alaska weather election results gop debate live gop debate live nome alaska nome alaska

Sunday, November 27, 2011

Egypt raises interest rates, 1st hike in 3 years (AP)

CAIRO ? Egypt's central bank has raised interest rates for the first time in three years. It follows months of political unrest that have led to an economic slowdown, putting the country's currency under pressure.

The bank said in a statement posted late Thursday that its Monetary Policy Committee decided to raise the overnight deposit rate by 1 percentage point to 9.25 percent.

Also, it raised the overnight lending rate 0.5 percentage points to 10.25 percent and the 7-day repo by 0.5 percentage points to 9.75 percent.

The Standard & Poor's ratings agency on Thursday pushed Egypt's sovereign credit ratings deeper into junk status, citing the country's deteriorating fiscal situation.

Egypt's last interest rate hike came in September 2008.

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/ap/20111125/ap_on_bi_ge/ml_egypt_interest_rates

activision blizzard acrylamide advent calendar adobe air 2005yu55 advanced search personhood amendment