FTSE lower in opening trade (AFP)

LONDON (AFP) – London's leading share index dipped fractionally in opening trade on Monday as investors showed little reaction to the weekend's G20 talks in Paris.

The FTSE 100 kicked the week off 0.18 percent lower at 6,071.99 points.

The Group of 20 developed and developing countries agreed which economic indicators to use to tackle the economic imbalances at the heart of the global crisis.

"The weekend's G20 meeting was something of a damp squib," said National Australia Bank strategist John Kyriakopoulos.

"G20 finance ministers hashed out an agreement on how to measure global imbalances, but didn't go far as to set numerical targets for such."

View the original article here

Tar sands row threatens Canada-EU trade deal: sources (Reuters)

By Pete Harrison and Juliane von Reppert-Bismarck Pete Harrison And Juliane Von Reppert-bismarck – Mon Feb 21, 2:33 pm ET

BRUSSELS (Reuters) – Canada has threatened to scrap a trade deal with the European Union if the EU persists with plans that would block imports of Canada's highly polluting tar sands, according to EU documents and sources.

The European Union has told its fuel suppliers to reduce the carbon footprint of fuels by 6 percent over the next decade, and is now fine-tuning "default values"" to help suppliers identify the most carbon-intensive imports.

Canada says the standards would instantly constrict a possible future market for its oil sands -- tar-like oil that is trapped in sediment and forms the world's second-largest proven crude reserves after those of Saudi Arabia.

"Canada has been lobbying the Commission and member states intensively to avoid a separate default value for fuel derived from tar sands," said a briefing note prepared by EU officials for climate commissioner Connie Hedegaard.

"It has raised the issue in the context of EU-Canada negotiations on a Free Trade Agreement," adds the note, one of several from last year released last week under freedom-of-information laws.

Sources said Monday that Canada had gone further, threatening to void the free trade deal, which is expected to be agreed later this year.

Canadian officials denied they have threatened to scrap the trade deal, but said they are concerned about how the oil sands oil will be treated under the EU's fuel directive.

"Canada and the European Union are working to resolve the issue outside of the negotiations toward a free trade deal," International Trade Minister Peter Van Loan said in a statement to Reuters.

Environmentalists oppose the tar sands industry, saying the extra energy needed to extract oil from the site in the western Canadian province of Alberta intensifies the impact on climate, while polluted waste water harms wildlife and pollutes rivers.

HIGHEST LEVEL

The Commission is readying its defenses for a legal fight with Canada, EU officials say.

Canada has challenged the EU at the World Trade Organization in various disputes, such as over hormone-treated beef, genetically modified foods and seal products.

Last year, the EU appeared to be backing down on tar sands, but sources say negotiators for the 27-member bloc are becoming bolder as their scientific evidence becomes more robust.

"We are saying 'be careful', because Canada will not hesitate to take us to the WTO, so we have to have something rock-solid," said an EU official.

The Commission had initially proposed that tar sands be ascribed a greenhouse gas value of 107 grams per megajoule of fuel, making it clear to buyers that it had far greater impact than average crude oil at 87.1 grams.

The latest EU research, published this month, backs that up.

A trade deal would open up Canadian public works contracts to European bidders and allow Canada to capture sales -- from auto parts and insurance to beef and grain -- currently dominated by the United States and Asia.

Numerous briefing notes sent between EU officials last year show the issue has been raised at the highest levels. In May, it was discussed during a meeting between EU President Jose Manuel Barroso and Canadian Prime Minister Stephen Harper.

(With additional reporting by David Ljunggren)

(Writing by Pete Harrison, editing by Rex Merrifield and Todd Eastham)

View the original article here

Tar sands row threatens Canada-EU trade deal: sources (Reuters)

By Pete Harrison and Juliane von Reppert-Bismarck Pete Harrison And Juliane Von Reppert-bismarck – Mon Feb 21, 2:33 pm ET

BRUSSELS (Reuters) – Canada has threatened to scrap a trade deal with the European Union if the EU persists with plans that would block imports of Canada's highly polluting tar sands, according to EU documents and sources.

The European Union has told its fuel suppliers to reduce the carbon footprint of fuels by 6 percent over the next decade, and is now fine-tuning "default values"" to help suppliers identify the most carbon-intensive imports.

Canada says the standards would instantly constrict a possible future market for its oil sands -- tar-like oil that is trapped in sediment and forms the world's second-largest proven crude reserves after those of Saudi Arabia.

"Canada has been lobbying the Commission and member states intensively to avoid a separate default value for fuel derived from tar sands," said a briefing note prepared by EU officials for climate commissioner Connie Hedegaard.

"It has raised the issue in the context of EU-Canada negotiations on a Free Trade Agreement," adds the note, one of several from last year released last week under freedom-of-information laws.

Sources said Monday that Canada had gone further, threatening to void the free trade deal, which is expected to be agreed later this year.

Canadian officials denied they have threatened to scrap the trade deal, but said they are concerned about how the oil sands oil will be treated under the EU's fuel directive.

"Canada and the European Union are working to resolve the issue outside of the negotiations toward a free trade deal," International Trade Minister Peter Van Loan said in a statement to Reuters.

Environmentalists oppose the tar sands industry, saying the extra energy needed to extract oil from the site in the western Canadian province of Alberta intensifies the impact on climate, while polluted waste water harms wildlife and pollutes rivers.

HIGHEST LEVEL

The Commission is readying its defenses for a legal fight with Canada, EU officials say.

Canada has challenged the EU at the World Trade Organization in various disputes, such as over hormone-treated beef, genetically modified foods and seal products.

Last year, the EU appeared to be backing down on tar sands, but sources say negotiators for the 27-member bloc are becoming bolder as their scientific evidence becomes more robust.

"We are saying 'be careful', because Canada will not hesitate to take us to the WTO, so we have to have something rock-solid," said an EU official.

The Commission had initially proposed that tar sands be ascribed a greenhouse gas value of 107 grams per megajoule of fuel, making it clear to buyers that it had far greater impact than average crude oil at 87.1 grams.

The latest EU research, published this month, backs that up.

A trade deal would open up Canadian public works contracts to European bidders and allow Canada to capture sales -- from auto parts and insurance to beef and grain -- currently dominated by the United States and Asia.

Numerous briefing notes sent between EU officials last year show the issue has been raised at the highest levels. In May, it was discussed during a meeting between EU President Jose Manuel Barroso and Canadian Prime Minister Stephen Harper.

(With additional reporting by David Ljunggren)

(Writing by Pete Harrison, editing by Rex Merrifield and Todd Eastham)

View the original article here

Maliki fills power, trade and other Iraq cabinet jobs (Reuters)

BAGHDAD (Reuters) – Iraq's parliament approved eight new ministers on Sunday but Prime Minister Nuri al-Maliki has yet to decide who will hold sensitive security posts in the cabinet such as defense and interior.

Maliki's new government was approved in late December after nine months of political wrangling but he left 10 cabinet posts with acting leaders, keeping the Defense Ministry, which runs the army, Interior, which controls the police, and National Security for himself temporarily.

Iraq is trying to solidify its nascent democracy in the face of a stubborn insurgency nearly eight years after the U.S.-led invasion that toppled dictator Saddam Hussein, before U.S. troops complete their withdrawal by year's end.

Parliament approved new electricity and trade ministers, two key positions covering provision of basic services and food, the focus of recent protests in Baghdad and the provinces.

The new power minister, Raad Shallal, has worked for the ministry since 1987 and holds a masters degree in engineering.

Intermittent electricity is one of Iraqis' biggest gripes.

Current production is only 7,000 megawatts, about 5,000 megawatts short of demand, acting Electricity Minister Hussain al-Shahristani said on Saturday as he announced a plan to give Iraqis 1,000 kilowatt-hours of free power each month.

The new trade minister is Khairalla Hasan, a Kurdish veterinarian with 20 years' experience in trade in Iraq's semi-autonomous northern Kurdish region.

Food and power have been at the heart of numerous recent street protests, which seem likely to grow with the approach of summer, when temperatures rise above 50 degrees Celsius.

Maliki also announced his picks for the posts of women's affairs, tribal affairs, municipalities, civilian community affairs, national reconciliation and a minister of state without portfolio, and said he would submit other nominees to parliament within days.

"I would like to assure members of parliament I will bring up the security ministers to parliament very soon to be approved," Maliki told lawmakers.

(Reporting by Suadad al-Salhy; writing by Ahmed Rasheed; editing by Tim Pearce)

View the original article here

Maliki fills power, trade and other Iraq cabinet jobs (Reuters)

BAGHDAD (Reuters) – Iraq's parliament approved eight new ministers on Sunday but Prime Minister Nuri al-Maliki has yet to decide who will hold sensitive security posts in the cabinet such as defense and interior.

Maliki's new government was approved in late December after nine months of political wrangling but he left 10 cabinet posts with acting leaders, keeping the Defense Ministry, which runs the army, Interior, which controls the police, and National Security for himself temporarily.

Iraq is trying to solidify its nascent democracy in the face of a stubborn insurgency nearly eight years after the U.S.-led invasion that toppled dictator Saddam Hussein, before U.S. troops complete their withdrawal by year's end.

Parliament approved new electricity and trade ministers, two key positions covering provision of basic services and food, the focus of recent protests in Baghdad and the provinces.

The new power minister, Raad Shallal, has worked for the ministry since 1987 and holds a masters degree in engineering.

Intermittent electricity is one of Iraqis' biggest gripes.

Current production is only 7,000 megawatts, about 5,000 megawatts short of demand, acting Electricity Minister Hussain al-Shahristani said on Saturday as he announced a plan to give Iraqis 1,000 kilowatt-hours of free power each month.

The new trade minister is Khairalla Hasan, a Kurdish veterinarian with 20 years' experience in trade in Iraq's semi-autonomous northern Kurdish region.

Food and power have been at the heart of numerous recent street protests, which seem likely to grow with the approach of summer, when temperatures rise above 50 degrees Celsius.

Maliki also announced his picks for the posts of women's affairs, tribal affairs, municipalities, civilian community affairs, national reconciliation and a minister of state without portfolio, and said he would submit other nominees to parliament within days.

"I would like to assure members of parliament I will bring up the security ministers to parliament very soon to be approved," Maliki told lawmakers.

(Reporting by Suadad al-Salhy; writing by Ahmed Rasheed; editing by Tim Pearce)

View the original article here

Maliki fills power, trade and other Iraq cabinet jobs (Reuters)

BAGHDAD (Reuters) – Iraq's parliament approved eight new ministers on Sunday but Prime Minister Nuri al-Maliki has yet to decide who will hold sensitive security posts in the cabinet such as defense and interior.
Maliki's new government was approved in late December after nine months of political wrangling but he left 10 cabinet posts with acting leaders, keeping the Defense Ministry, which runs the army, Interior, which controls the police, and National Security for himself temporarily.
Iraq is trying to solidify its nascent democracy in the face of a stubborn insurgency nearly eight years after the U.S.-led invasion that toppled dictator Saddam Hussein, before U.S. troops complete their withdrawal by year's end.
Parliament approved new electricity and trade ministers, two key positions covering provision of basic services and food, the focus of recent protests in Baghdad and the provinces.
The new power minister, Raad Shallal, has worked for the ministry since 1987 and holds a masters degree in engineering.
Intermittent electricity is one of Iraqis' biggest gripes.
Current production is only 7,000 megawatts, about 5,000 megawatts short of demand, acting Electricity Minister Hussain al-Shahristani said on Saturday as he announced a plan to give Iraqis 1,000 kilowatt-hours of free power each month.
The new trade minister is Khairalla Hasan, a Kurdish veterinarian with 20 years' experience in trade in Iraq's semi-autonomous northern Kurdish region.
Food and power have been at the heart of numerous recent street protests, which seem likely to grow with the approach of summer, when temperatures rise above 50 degrees Celsius.
Maliki also announced his picks for the posts of women's affairs, tribal affairs, municipalities, civilian community affairs, national reconciliation and a minister of state without portfolio, and said he would submit other nominees to parliament within days.
"I would like to assure members of parliament I will bring up the security ministers to parliament very soon to be approved," Maliki told lawmakers.
(Reporting by Suadad al-Salhy; writing by Ahmed Rasheed; editing by Tim Pearce)
View the original article here

Maliki fills power, trade and other Iraq cabinet jobs (Reuters)

BAGHDAD (Reuters) – Iraq's parliament approved eight new ministers on Sunday but Prime Minister Nuri al-Maliki has yet to decide who will hold sensitive security posts in the cabinet such as defense and interior.

Maliki's new government was approved in late December after nine months of political wrangling but he left 10 cabinet posts with acting leaders, keeping the Defense Ministry, which runs the army, Interior, which controls the police, and National Security for himself temporarily.

Iraq is trying to solidify its nascent democracy in the face of a stubborn insurgency nearly eight years after the U.S.-led invasion that toppled dictator Saddam Hussein, before U.S. troops complete their withdrawal by year's end.

Parliament approved new electricity and trade ministers, two key positions covering provision of basic services and food, the focus of recent protests in Baghdad and the provinces.

The new power minister, Raad Shallal, has worked for the ministry since 1987 and holds a masters degree in engineering.

Intermittent electricity is one of Iraqis' biggest gripes.

Current production is only 7,000 megawatts, about 5,000 megawatts short of demand, acting Electricity Minister Hussain al-Shahristani said on Saturday as he announced a plan to give Iraqis 1,000 kilowatt-hours of free power each month.

The new trade minister is Khairalla Hasan, a Kurdish veterinarian with 20 years' experience in trade in Iraq's semi-autonomous northern Kurdish region.

Food and power have been at the heart of numerous recent street protests, which seem likely to grow with the approach of summer, when temperatures rise above 50 degrees Celsius.

Maliki also announced his picks for the posts of women's affairs, tribal affairs, municipalities, civilian community affairs, national reconciliation and a minister of state without portfolio, and said he would submit other nominees to parliament within days.

"I would like to assure members of parliament I will bring up the security ministers to parliament very soon to be approved," Maliki told lawmakers.

(Reporting by Suadad al-Salhy; writing by Ahmed Rasheed; editing by Tim Pearce)

View the original article here