Kabul awakes to more explosions and heavy gunfire

April 16, 2012

Kabul_Ap16


Kabul, April 16: Loud explosions and intense gunfire erupted at dawn in the Afghan capital Kabul on Monday after heavy fighting overnight between security forces and militants holed up in the central diplomatic area.

NATO helicopters launched strafing attack runs on gunmen hidden in a construction site overlooking the NATO headquarters and several embassies, including the British and German missions.

Insurgents fired automatic weapons at Afghan army special forces and police, who responded with rocket-propelled grenades during street fighting in the capital that has so far lasted almost 16 hours.

Explosive flashes lit alleys and surrounding streets.

The assault by the insurgents, which began at midday on Sunday with attacks on embassies, a supermarket, a hotel and the parliament, is one of the most serious on the capital since US-backed Afghan forces removed the Taliban from power in 2001.

It highlights the ability of militants to strike the heavily guarded diplomatic zone of the city even after more than 10 years of war.

The Ministry of Interior said 19 insurgents, including suicide bombers, had died in the attacks in Kabul and in at least three provinces and two were captured. Fourteen police officers and nine civilians were wounded.

The Taliban claimed responsibility for the attacks, but some officials said the Haqqanis, a network of tribal militants who live along the Pakistan-Afghanistan border, were likely involved.

"My guess, based on previous experience here, is this is a set of Haqqani network operations out of north Waziristan and the Pakistani tribal areas," American Ambassador Ryan Crocker told CNN.

"Frankly I don't think the Taliban is good enough."

The attacks were another election-year setback in Afghanistan for US President Barack Obama, who wants to present the long campaign against the Taliban as a success before the departure of most foreign combat troops by the end of 2014.

"These attacks are the beginning of the spring offensive and we had planned them for months," Taliban spokesman Zabihullah Mujahid told Reuters.

He said the onslaught was revenge for a series of incidents involving American troops in Afghanistan - including the burning of Korans at a NATO base and the massacre of 17 civilians by a US soldier - and vowed that there would be more such attacks.

The Taliban said on Sunday the main targets were the German and British embassies and the headquarters of the NATO-led force. Several Afghan members of parliament joined security forces repelling attackers from a roof near the parliament.

FAMILIAR TACTICS

The attacks in Kabul come a month before a NATO summit at which the United States and its allies are supposed to put finishing touches on plans for the transition to Afghan security control, and days before a meeting of defense and foreign ministers in Brussels to prepare for the alliance's summit in Chicago.

They also come in the run-up to Western forces leaving Afghanistan under a plan to hand over responsibilities to the Afghan forces by 2014.

That may prompt some to draw comparisons with the 1968 Tet Offensive during the Vietnam War. There are major differences in the scale and length of the events and casualties but the assault may still challenge assertions that America is winning.

Afghan security forces apparently failed to learn lessons from a similar operation in Kabul last September, when insurgents entered construction sites to use them as positions for rocket and gun attacks.

On Sunday, insurgents entered a multi-storey construction site overlooking the diplomatic triangle and behind a supermarket. There they unleashed rocket-propelled grenades and gunfire, protected from the view of security forces by green protective netting wrapped around the skeleton of the building.

Hours earlier in neighboring Pakistan, dozens of Islamist militants had stormed a prison in the dead of night and freed nearly 400 inmates, including one on death row for trying to assassinate former President Pervez Musharraf.


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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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Agencies
August 7,2020

Colombo, Aug 7: Sri Lankan President Gotabaya Rajapaksa's party and its allies won an overwhelming two-thirds majority in a parliament election, results showed on Friday, giving him the power to enact sweeping changes to the constitution.

The governing Sri Lanka Podujana Peramuna and its allies had won 150 seats in the 225-member parliament, according to the tally published by the election commission from Wednesday's vote.

Rajapaksa had sought a two-thirds majority in parliament to be able to restore full executive powers to the presidency, which he says are necessary to implement his agenda to make the tiny island economically and militarily secure.

He is likely to install his older brother and former President Mahinda Rajapaksa as the next prime minister. The brothers are best known for crushing the Tamil Tiger rebels fighting for a separate homeland for minority Tamils during the elder Rajapaksa's presidency in 2009.

On a congratulatory phone call from Prime Minister Narendra Modi of India, which is keen to check Chinese influence on its southern neighbour, Mahinda Rajapaksa vowed to deepen ties between the two countries.

"With the strong support of the people of Sri Lanka, I look forward to working with you closely to further enhance the long-standing cooperation between our two countries," he told Modi. "Sri Lanka and India are friends and relations."

The tourism-dependent nation of 21 million people has been struggling economically since deadly Islamist militant attacks on hotels and churches last year followed by lockdowns to slow the spread of the coronavirus. 

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News Network
June 25,2020

Ottawa, Jun 25: Prime Minister Justin Trudeau took his son out for ice cream on Wednesday in his first family outing since Canada started easing out of its pandemic lockdown.

It was also Saint-Jean-Baptiste Day in Quebec province.

Wearing masks, the Canadian leader and his six-year-old son Hadrien were cheered at Chocolats Favoris in Gatineau, Quebec.

According to a pool report, Trudeau said the shop tapped into a federal emergency wage subsidy and business loan in order to weather the pandemic, and "avoid being frozen out of the frozen treat market."

Hadrien is said to have bounced with excitement, settling on a vanilla cone with a cookie topping while dad bought a vanilla cone dipped in chocolate for himself.

Father and son then headed out to the patio, where they doffed their masks to eat their cones.

Canada's provinces and territories declared states of emergency mid-March, closing schools and non-essential businesses in response to the pandemic.

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