An internet virus was last night blamed for disabling the IT systems of 75% of Royal Navy ships, before it apparently diverted defence staff's emails to a server in Russia.
News of the cyber attack only emerged thanks to an unnamed MoD official, reportedly worried that the department is failing to take IT security seriously, as implied last week.
He shared his fears with a Tory MP, who said he revealed "email traffic from some RAF stations" was sent to a Russian server, but could not cite "any evidence of active Russian involvement".
At least 1,500 Rwandan troops crossed the hilly border into eastern Congo on Tuesday morning, launching a major operation with the Congolese army to hunt down Rwandan Hutu militia leaders who fled into the region after participating in the 1994 Rwandan genocide, according to U.N. and Rwandan officials.
"We estimate that 1,500 to 2,000 troops crossed the border," said Lt. Col. Jean-Paul Dietrich, a spokesman for the U.N. peacekeeping mission in Congo. "After all the tensions between the two countries, this is very significant."
The continued presence of the Hutu militia known as the FDLR has been a catalyst for more than a decade of conflict in eastern Congo, spawning an array of other militia groups that have made a way of life out of preying upon local villagers.
By some estimates, more than 5 million Congolese have died in years of war and low-level conflict related to the messy, unresolved aftermath of the 1994 Rwandan genocide, when Hutu militia members and soldiers killed an estimated 800,000 Tutsis in 100 days of well-planned violence.
Posted by: Fred ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11126 views]
Top|| File under:
SADC threatened to drop its mediation effort on Zimbabwe as another attempt to form a unity government in the country failed late yesterday. Prime minister-elect Morgan Tsvangirai described the failure as "the darkest day of our lives". South Africa's President Kgalema Motlanthe and former president Thabo Mbeki and Mozambican President Armando Guebuza representing the Southern African Development Community (SADC) failed to persuade the MDC leader, Tsvangirai, and President Robert Mugabe to overcome their differences in another marathon session in Harare yesterday. They differed mainly over who gets key positions such as the home affairs ministry which controls the police.
SADC executive secretary Tomaz Salamao emerged from yesterday's talks and told reporters: "The meeting was not conclusive." He said SADC would call another regional summit in either Botswana or South Africa on January 26 to try to secure an agreement. Salamao also made it clear in conversations that if Tsvangirai and Mugabe cannot come to an agreement by then, SADC would drop its mediation effort on Zimbabwe. As he told diplomats, there were many other "pressing" problems in the SADC region. The differences between Mugabe and Tsvangirai have prevented them implementing a political agreement they signed four months ago to form an inclusive government in which Mugabe would remain president and Tsvangirai become prime minister.
Motlanthe convened yesterday's talks as SADC chairman, Mbeki is SADC's mediator on Zimbabwe. Guebuza represented SADC's security arm. Several previous rounds of talks, facilitated by SADC to overcome differences on the division of ministries and other issues, have also deadlocked. Well-placed sources said that after heavy pressure was put on Mugabe by Guebuza and Arthur Mutambara, leader of the smaller MDC faction, he finally agreed to give up some provincial Zanu PF governors he had already appointed in provinces won by Tsvangirai's MDC in the March 29 elections. He also agreed to reconsider some senior civil service appointments he made without consultation with the MDC since the political agreement for a unity government was signed in September. SADC mediators believed that Tsvangirai had also agreed to make some concessions, but was dissuaded by his powerful secretary-general Tendai Biti and prominent Harare lawyer Innocent Chagonda.
Some MDC sources believe Tsvangirai himself believes he should take the MDC into a transitional unity government as a first step towards fresh elections under a new constitution in 18 months. Several MPs loyal to Tsvangirai said they were disappointed at the failure of the talks. One said he believed that if the next summit failed and SADC walked away from mediating the Zimbabwe crisis, Mugabe would be able to go ahead with new elections without regional censure, and would win as there would be no international supervision and no constitutional amendment 19 to form independent commissions to control elections, human rights and the media. Constitutional amendment 19 also creates the new post of prime minister for Tsvangirai in the unity government. It was due to come before parliament today but will now presumably be delayed.
Tsvangirai's MDC has a one-seat parliamentary majority over Zanu PF which has most senate seats, with Mutambara's MDC holding the balance of power of 10 parliamentary seats. Although Mutambara has said both MDCs should enter the unity government as it is the only chance to resolve Zimbabwe's crisis, he said before negotiations began yesterday that he was backing Tsvangirai and called for Mugabe to make "compromises". "I am sure the whole nation is waiting anxiously for the resolution of this crisis. We are committed to this deal but subject to Zanu PF conceding on these issues," Tsvangirai told reporters before he left the five-star hotel in Harare where the talks were held. He had presented regional mediators and Mugabe with his bottom lines which included the re-allocation of some ministries and the release of about 30 opposition supporters who have been detained on suspicion of sabotage or plotting with Botswana to topple Mugabe by force.
Posted by: Fred ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11127 views]
Top|| File under:
The British government announced on Monday a fresh bailout package for its beleaguered financial system designed to spur lending and prop up the economy.<
Posted by: Fred ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11132 views]
Top|| File under:
#1
Big Banks are sure raking in a lot of free cash lately. I wonder if the UK bailout money has any more strings attached than the US money?
Venezuelan President Hugo Chavez says he is happy with the new face in the White House but expects little change in Washington-Caracas ties.
In a speech in the Venezuelan city of Barcelona on Tuesday , Chavez cautioned new US President Barack Obama that Venezuela will continue on its path to socialistic 'revolution' despite possible US pressure, AFP reported.
"No one here holds any illusions. This is the North American empire we're talking about," he said, referring to the United States political system.
However, the Venezuelan leader remained upbeat about Obama's vision of change in US policies, saying, "Hopefully the new president will represent a true change in relations with countries in the Third World, one of respect for sovereignty and the freedom of the people."
Chavez also expressed delight over former US President George W. Bush's departure from the White House, noting, "We are happy that the government of a president that brought terror and violence to the world has gone."
Posted by: Fred ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11128 views]
Top|| File under:
CANBERRA, Jan 21 (Reuters) - Australia's government is ready to offer a lifeline to the country's banks, which face a funding shortfall of A$75 billion ($49 billion), Prime Minister Kevin Rudd said. Rudd said he was ready to take "whatever action is required" to fill the business funding gap caused by foreign banks' unwillingness to lend in smaller markets like Australia.
Australia's big banks are highly profitable, but heavily reliant on foreign borrowing to meet demand. Rudd said A$75 billion in loans would fall due in the next two years. "If foreign banks do not roll over their share of these loans, it will be difficult for Australia's four major banks to fill the gap on their own," he said in Adelaide on Wednesday, according to Australian Associated Press.
"The government stands ready to take whatever action is required to see Australia through the difficult times ahead."
Posted by: Steve White ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11127 views]
Top|| File under:
A French business school launched a degree in Islamic finance Wednesday, as more European Muslims seek careers in a fast-growing sector run under the precepts of Sharia law.
Islamic banks avoid business that could be considered "riba" -- usually translated as "usury" -- and will not invest in firms that produce products seen by Muslims as "haram" or forbidden, such as pork or alcohol. Driven by the explosion in financial services in the energy-rich Gulf monarchies, Islamic banking has become a fast-growing section of the market, but in Europe has so far been dominated by London-based institutions.
Strasbourg University's School of Management has now recruited 36 students from France, Algeria, Germany, Luxembourg, Switzerland and Tunisia to France's first 11-month postgraduate masters-level course in the subject. "Financial institutions and regulatory authorities are faced with more and more demand from new economic actors that have ethical and religious concerns when seeking finance and investment," the school said.
Islamic bankers avoid finance based on the charging of interest, promote investments consistent with the laws and ethics of Islam and seek to share risk and profit among partners in a way that does not resemble gambling. For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.
"It's another way of investing, another way of acquiring property. We prefer to avoid risky ventures," explained Ibrahim Zeyyad Cekici, a research fellow at the Strasbourg school.
#1
For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.
HUD has a similar program, which is likely to very soon expand. The difference is, the residents never gain ownership.
There are approximately 1.2 million households living in public housing units, managed by some 3,300 HAs. The U.S. Department of Housing and Urban Development (HUD) administers Federal aid to local housing agencies (HAs) that manage the housing for low-income residents at rents they can afford.
#3
For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.
And that's different from charging interest in what manner? Fucking Einsteins, the lot of 'em...
#5
For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.
So you don't get the front-loaded interest payments from the guy like a regular loan.
You carry your risk the entire length of the loan and create an even riskier situation.
#6
-- and will not invest in firms that produce products seen by Muslims as "haram" or forbidden
And to skirt European anti-discrimination lending laws the decision of who qualifies for a loan is based on need. In other words Sure Miles you can sign up now go fill out the paperwork at the back of the line Infidel!
Chennai, India: A software glitch during the terminal stage of the flight of supersonic cruise missile BrahMos on Tuesday led to the missile falling short of its target. The Army fired the missile at the Pokhran range in Rajasthan.
It was a modified BrahMos with a new software to make it more intelligent and hit a given target (a structure) out of a number of small buildings but it missed the target, said A. Sivathanu Pillai, Chief Executive Officer and Managing Director of BrahMos Aerospace.
Two regiments of the Army already have Block I version of the missile. BrahMos Aerospace had come up with a Block II version without changing the missiles major systems that were proven in the previous 17 flights. But the Block II version had new software to improve the missiles operational capability.
The software aimed at making the missile more intelligent so that it possessed a sense of discrimination. In other words, it would select the given target out of a number of small targets and pulverise it.
Dr. Pillai said the missile had a beautiful take-off and performed well but a problem occurred in the new software. So the target was not hit. It just missed the target. When we do something new, it can go either way, he pointed out.
The flight involved a lot of terminal-stage manoeuvres, which were difficult to perform at a supersonic speed of nearly three times the speed of sound. The issue, which was identified and analysed, was not serious.
The new algorithm has to be re-validated through many simulation runs and we will get foolproof software so that such complicated mission requirements are met We are confident that we will do another launch within a month.
Asked about a similar mission being successful in a previous flight at the Pokhran range, Dr. Pillai said the targets then were bigger buildings. But in this mission, the missile had to pick and hit a small, hidden building out of multiple targets.
Dr. Pillai denied that the missile was reconfigured to carry nuclear warheads. It would carry only conventional warheads, he asserted.
Posted by: john frum ||
01/21/2009 17:47 ||
Comments ||
Link ||
[11133 views]
Top|| File under:
#1
When we do something new, it can go either way
Pure Zen. I wonder what the folks who wrote the software for the Aegis / SM-3 satellite shootdown assemblage would say to that...
Posted by: M. Murcek ||
01/21/2009 22:48 Comments ||
Top||
US authorities say a human rights worker with ties to the United Nations was arrested at Kennedy Airport in New York with child pornography in his suitcase. The Queens District Attorney's office says Clarence Dias was nabbed Tuesday with the child porn in his carry-on while going through security on his way to Bangkok.
Prosecutors say Dias told authorities the material was for research. Dias is president of the International Center for Law in Development. His office is located at the UN. Dias was expected to be arraigned on felony charges of possessing an obscene sexual performance by a child.
The dawn of the Obama presidency could not shake the stock market from its dejection over the rapidly deteriorating state of the banking industry.
Financial stocks, many of them falling by double digit percentages, led a huge drop on Wall Street Tuesday that left the major indexes down more than 4 percent and the Dow Jones industrials down 332 points. Although traders on the floor of the New York Stock Exchange paused to watch the inauguration ceremony and Obama's remarks, the transition of power didn't erase investors' intensifying concerns about struggling banks and their impact on the overall economy.
The market's angst, which began with multibillion dollar losses reported last week by Bank of America Corp. and Citigroup Inc., intensified after the Royal Bank of Scotland's forecast that its losses for 2008 could top $41.3 billion.
The collapse in bank stocks was swift: State Street Corp. plunged 59 percent, Citigroup fell 20 percent and Bank of America lost 29 percent. Royal Bank of Scotland fell 69 percent in New York trading. Well, give the Man a day or two to straighten it out!
Posted by: Bobby ||
01/21/2009 06:11 ||
Comments ||
Link ||
[11130 views]
Top|| File under:
#1
I dare say it wasn't only Wall Steet that was left unimpressed. The screaming adulation of Obama and the booing of "W" were straight out of a segment of Jerry Springer. Taxpayer dollars well spent I'd say. Sarcasm off
#2
Give me a good loan and maybe we'd be impressed with those banks! I can't believe these banks are not sharing the billions they were given. I'm even more unimpressed there were no strings attached to the money, so they banks use it any way they want.
Posted by: Grolush Darling of the Hatfields3195 ||
01/21/2009 8:46 Comments ||
Top||
#3
Don't worry about that money, its already gone.
No major incidents. No arrests. Just a national Mall "trashed" by all the tree huggers. I heard reports this AM that the participants just threw all their trash (to include US FLAGS) on the ground when they left. It could be a tough four years - I hope that the CONSERVATIVES find a leader since the REPUBICS don't have a clue. It was pretty disgusting to watch the commentators waxing eloquent about how happy the crowd was - seems that they just can't comprehend that the celebrants at the Mall somehow were not McCain/Palin supporters (or were those chants really NO bama - NO bama?)!
Crude oil fell below $33 a barrel in New York as the strengthening dollar reduced the appeal of commodity investments at a time when demand is declining and stockpiles are rising. Gas is overpriced at the pump right now at $1.75. $33 a barrel is about $1.30 a gallon.
At Cushing, Oklahoma, where the benchmark oil for New York futures is stored, inventories have climbed to 33 million barrels, the highest since records started four years ago. The February contract will cease trading today, so traders have to sell futures or accept the barrels at a time of falling demand. "Traders are rolling over to the next month to avoid delivery and the dollar is rallying," said Andrey Kryuchenkov, an analyst with VTB Capital in London. "All this against a background of falling demand and easing geopolitical tensions." The oil ticks are wondering if they can afford the gas pipe...
Crude oil for February delivery fell to $32.70, down 10.4 percent from last week's close and the lowest since Dec. 19, on the New York Mercantile Exchange today. The contract traded at $34.10 a barrel at 1:32 p.m. London time.
Floor trading was closed for the Martin Luther King Jr. holiday yesterday. Trades then will be booked today for settlement. The more-actively traded March contract was at $40.28, down 5.4 percent.
Posted by: Fred ||
01/21/2009 00:00 ||
Comments ||
Link ||
[11130 views]
Top|| File under:
#1
WTF? $1.30 per gallon. Kind of makes me want to be like the old days...put a few buck-o-gas in the tank. Get a 40 OZ and a pack of smokes. And just cruise around the 'hood. Just lookin' for something to do.
#2
Petrol is $2.35/gal here in Anchorage. Somehow, the damned price ratchet got stuck and it is not going down. Usually, we are the same as California, except our taxes are lower. Well, that price is very welcome, after the $4+/gallon we were paying.
Posted by: Alaska Paul ||
01/21/2009 1:29 Comments ||
Top||
#3
About 2 weeks ago the price shot back up to around 1.60/gal here in SC and hasn't moved despite the further collapse of oil prices. Is this still due to Putie and his buddies screwing with Western Europe (that at least made sense when it came to a price increase)?
Mike
Posted by: Mike Kozlowski ||
01/21/2009 5:30 Comments ||
Top||
#5
Don't forget the 30-50 cent tax per gallon from the Feds and State. In Missouri that is 37 cents. Given that I was paying 1.26 on New Year's Day, 1.60 is annoying now, but it will drop from now until April.
#6
I hate to imagine where this economy might be if we were still pay in excess of $4.00 per gallon for gas. A pox on the Wall Street oil and gas speculators.
#7
Pebbles is onto the issue - comments elsewhere show that refiners (Valero?) are doing big maintenance now, hence a slower supply. The upshot is a smoother supply chain this summer, so he proce drops should continue.
Again, the arsenal of democracy challenging the world to match our adjusting recession. Wonder how the reactions will play out?
#8
A pox on the Wall Street oil and gas speculators.
Actually a pox on the government regulators who sat by and let it all happen even though they had to the power to call margin at any time. Remember, cutting and back and the the stockpiling began back in summer while prices still went up at historical rates in September. It was when the Franks Subprime Housing Collapse hit the banks and the banks choked lending that the market executed its own margin call resulting in the speculators being unable to keep their game going. Every one of the regulators who had the power and responsibility to do their job and failed should be collecting unemployment yesterday.
#12
I'm still waiting for this to show up at a pump near my home. Maybe some esoteric concept like global warming (or some other equally obtuse b.s.) explains this dislocation between gasoline cost and pump price.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
Venezuelan President Hugo Chavez says he is happy with the new face in the White House but expects little change in Washington-Caracas ties. 
A French business school launched a degree in Islamic finance Wednesday, as more European Muslims seek careers in a fast-growing sector run under the precepts of Sharia law.
US authorities say a human rights worker with ties to the United Nations was arrested at Kennedy Airport in New York with child pornography in his suitcase. The Queens District Attorney's office says Clarence Dias was nabbed Tuesday with the child porn in his carry-on while going through security on his way to Bangkok.
Crude oil fell below $33 a barrel in New York as the strengthening dollar reduced the appeal of commodity investments at a time when demand is declining and stockpiles are rising. 
