China: Up to 26 million rural migrants now jobless

BEIJING – The global economic crisis has taken hold deep in China's impoverished countryside, as millions of rural migrants are laid off from factory jobs and left to scratch a living from tiny landholdings — creating unsettling prospects for a government anxious to avoid social unrest.

With demand for Chinese toy, shoe and electronics exports evaporating overseas, as many as 26 million of China's estimated 130 million migrant workers are now unemployed, the government announced Monday. A day earlier, Beijing warned of "possibly the toughest year" this decade and called for development of rural areas to offset the economic fallout.

"The government should not sit idly and disappoint the farmers," said Liu Shanying, a political scientist at the Chinese Academy of Social Sciences.

"If they are unemployed for a long time, it will be a time bomb," Liu said.

The severity of the situation will become clearer in the weeks ahead, as workers eager to test their prospects return from spending the Lunar New Year with their families in the countryside.

But already, agencies that seek to match workers with factory managers say demand has plummeted.

Zhang Quanshou, an agency director in the southern manufacturing powerhouse of Shenzhen, said he had requests for only half the number of workers as last year.

"Orders are down, so there are comparatively fewer jobs for the migrant workers," Zhang said Monday, as a crowd of workers fresh from Henan province, central China's breadbasket, filled out forms outside his office.

Zhang said he was seeking to adjust to the situation by first providing factory jobs to young women, seen by employers as more efficient at assembly line work.

"Last year, the demand for workers was high, so it was OK to have male workers and more mature workers. But this year, we asked the male and more mature workers to come later and the young women to come first," he said.

Throughout the years of China's long economic boom, migrant work provided a sort of social pressure release valve, allowing millions of farmers to escape to factory jobs in better developed coastal regions.

Those jobs, however, have dried up quickly as China's economic growth — once red-hot — plunged to 6.8 percent in the final quarter of last year. Analysts have cut forecasts for whole-year economic growth in 2009 to as low as 5 percent, with the export sector particularly hard-hit.

Layoffs have already led workers in some cities to take to the streets in protest at factory shutdowns or to demand back pay. Authorities have moved quickly to placate them, in some cases using public funds to pay workers after factory owners run off.

Now, the fear among Communist leaders is that unrest could spread to the countryside, where jobs have always been scarce and migrant workers contribute 65 percent of the average rural family's cash income, according to research from the People's Bank of China.

"We have roughly 25 million to 26 million rural migrant workers who are now coming under pressures for employment," Chen Xiwen, director of the Central Rural Work Leading Group, a government advisory body, said at a news conference Monday.

"So from that perspective, ensuring job creation and maintenance is ensuring the stability of the countryside."

In comparison, U.S. statistics in December showed an estimated 11.1 million Americans were without jobs, a rate of 7.2 percent unemployment that represents a 16-year high.

Adding to the pressure in China are millions of urban workers laid off amid the reform of moribund state industries in recent years and college graduates soon to be entering the work force.

Chen outlined a number of policies aimed at helping migrants, including encouraging companies to retain workers, investing in public projects to absorb rural workers and helping returning migrants set up businesses in their hometowns.

Premier Wen Jiabao also said in comments published Monday that Beijing was considering new steps to boost economic growth. The report, in the British newspaper Financial Times, did not give details of possible plans, which would follow a 4 trillion yuan ($586 billion) package unveiled in November with heavy spending onpublic works projects.

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Heavy snow fall disrupts UK transportation and communications

The heaviest snow to fall for 18 years has caused transport problems in some parts of the United Kingdom.

Almost a foot (30cm) of snow has fallen in the southeast of England, halting train and bus services and making driving treacherous. Flights to and from London's Heathrow and City airports and the outer London Gatwick and Stansted airports are suffering delays and cancellations. In some affected areas, the majority of schools have been closed.

The centre of London, which usually sees no snow at all most years, has around 4" (10cm) of laying snow, whilst Kent, Sussex and Surrey have up to 10" (25cm). The snow reduces further north but has still disrupted travel, with England's Highways Agency advising against car journeys unless essential. The agency had 500 gritters clearing main roads during the night and 600 motorway patrols out in the morning. Stretches of motorway and main road have been blocked by jack-knifed lorries or closed as a preemptive measure.

The snow caused disruption to British transport websites, with National Rail Enquiries, Transport for London and South West Trains websites all brought down by heavy traffic. The Highways Agency's site was also unavailable and returned with interactive features turned off. People calling and texting during the abortive rush hour jammed the mobile telephone networks. Mobile network '3' said it had seen "a very steep jump in the number of picture message sent across the network" whilst T-Mobile UK reported 73% more calls, 21% more texts and 20% more broadband bandwidth being used than usual.

The Met Office has a severe weather warning in place for England, Wales and parts of Scotland, with further snow expected across the country later in the week.

 

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Global economy could lose up to 51 million jobs this year, says UN agency

The International Labor Organization (ILO), a branch of the United Nations concerned with labor and workers' rights issues, issued a report Wednesday explaining how the global economic crisis could create a global employment crisis by the end of the year.

"By the end of 2008 working poverty, vulnerable employment and unemployment were beginning to rise as the effects of the slowdown spread," the report states. "If the recession deepens in 2009, as many forecasters expect, the global jobs crisis will worsen sharply." Even for those who keep their jobs, the report predicts that "earnings and other conditions of employment will deteriorate."

In a worst-case scenario, the ILO says 51 million jobs could be lost in 2009, meaning that 7.1% of the world's working population would be out of a job. In a more realistic scenario, the report foresees a loss of 30 million jobs, with a global unemployment rate of 6.5%. The unemployment rate has increased in recent years, from 5.7% in 2007 to an estimated 6% in 2008.

Even the report's most optimistic scenario for this year, a loss of 18 million jobs at an unemployment rate of 6.1%, is not much different than the ILO's October 2008 prediction of 20 million jobs lost this year due to the financial crisis.

The report warns that developing countries in South Asia and Subsaharan Africa will be harshly affected by the economic crisis. Although working poverty - defined as having daily wages of US$2 or less - is on an overall decline, these regions are still characterized by poor working conditions, low salaries, and an insecure job market. This will only worsen in 2009, according to the ILO.

"Taking into account that a wage and salary job in poor regions may still not ensure all the components of a decent job, it becomes understandable that only a minority of working people have a job that is well paid, respects their fundamental rights and ensures some security in case of job loss, personal or family illnesses, or other difficulties." The report says that by the end of 2008, nearly 53% of workers around the world could be in "vulnerable employment".

In terms of actual unemployment, however, developed countries are the ones most likely to be affected by the downturn, as they are more tied to the global financial system. The unemployment rate in the European Union and other developed economies increased by 0.7 percentage points in 2008, the largest increase of all regions. "Globalization combined with rapid technological advances is another challenge for labour markets in the region," the ILO says. "It is important for workers and employers to be ready and able to adjust quickly to change and to stiffer competition."

Still, the unemployment rate of 6.4% in these developed countries is far less than in North Africa and the Middle East, which had unemployment rates of 10.3% and 9.4% respectively. East Asia had the lowest unemployment rate of the regions at 3.8%.

The report urged global economies to take cooperative measures, including working with the United Nations, in order to stem the economic crisis. It also asks governments to address the "negative social consequences of globalization" by placing on emphasis an social justice-based programs targeted toward women, youth, and other "vulnerable groups".

In particular, the ILO says governments should establish public infrastructure projects such as road construction, expand health insurance and unemployment benefits, and focus on the creation of green jobs when devising their stimulus plans. "When governments design fiscal stimulus packages, it is important that they consider employment-related goals, including explicit employment growth targets," the report concluded.

"In the world, there remains a huge untapped labour potential, and economic growth and development could be much higher if everyone was given the chance of a decent job."

Sources: Wikinews

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Russia and Ukraine reach gas deal

MOSCOW – Negotiations dragged into the early hours Sunday, but in the end the prime ministers of Russia and Ukraine announced a deal to settle the gas dispute that has drastically reduced supplies of Russian gas to Europe for nearly two weeks.

Russian Prime Minister Vladimir Putin said Ukraine will pay 20 percent less than the European price for this year. This means a substantial increase for Ukraine in the first quarter but the price could fall significantly later in the year as gas prices are expected to drop.

"The negotiations were difficult but we reached an agreement that will allow for a contract to be signed," Tymoshenko said, standing by Putin's side.

Ukraine's Prime Minister Yulia Tymoshenko said natural gas supplies would resume once the two countries' gas companies sign a contract. It was not clear how soon this would happen. But Russia's Gazprom and Ukraine's Naftogaz, both state controlled, were told to prepare the documents by Monday, she said.

Before walking out, Putin promised that gas supplies would be restored soon. Both countries had blamed the other for the shutoff of European-bound gas.

The two leaders reached the agreement in talks that stretched into the early hours of the morning after a meeting Saturday with leaders from the 27-nation European Union ended without a resolution.

The EU normally receives about one-fifth of its gas supplies through Ukraine. Nations in eastern Europe that rely on Russia have been left with virtually no new supplies.

The EU threatened to review its relations with both countries if their dispute is not resolved this weekend. EU spokesman Ferran Tarradellas said Saturday that the EU delegation was "encouraged by the discussions" because Russia and Ukraine were seeking solutions rather than just blaming each other, but "what matters are results."

Ukraine paid $179.50 per 1,000 cubic meters of gas in 2008, less than half the price paid by European countries. The European price for the first quarter of 2009 is about $450, but is expected to fall to reflect the decline in world oil prices from more than $140 in July to below $40 in recent trading. Gas prices fluctuate more slowly than oil because gas is generally sold under long-term contracts.

Before talks broke down on Dec. 31, Russia had offered Ukraine a price of $250 for 2009, which Ukraine refused.

The two countries also reached a deal Sunday on the price Russia will pay Ukraine for transporting gas to Europe through its pipelines. Ukraine had insisted that if it paid more for gas, Russia should pay market prices for transit.

But Putin said Sunday that Russia offered Ukraine the "20 percent discount" on the condition that the discounted transit price remain in place for 2009. Beginning on Jan. 1, 2010, however, Ukraine will pay full price for gas and Russia will pay market prices for transit, he said.

Russia currently pays $1.7 to transport 1,000 cubic meters of gas for 100 kilometers (62 miles), which last year amounted to close to $3 billion. Putin has said the market price is about double this.

The global economic crisis has hit Russia hard. With the dramatic fall in the price of oil — the country's main source of revenue — Russia is facing a budget deficit this year for the first time in a decade. Industrial production has slowed and the ruble has come under huge pressure, losing nearly 30 percent of its value since the summer.

Ukraine's economy, however, is in much worse shape. It has been battered by the drop in world prices for steel, the heart of its export-oriented economy, and is heading into a painful recession this year.

Ukraine is heavily dependent on Russian gas and it is not clear how it will manage to pay for the huge amount needed to run its outdated heavy industries and heating systems.

Putin and Tymoshenko made no mention of the more than $600 million that Gazprom claims Ukraine still owes for 2008 supplies.

Russia stopped shipping gas to Ukraine for domestic use on Jan. 1 when the countries could not agree on a price. It then accused Ukraine of siphoning off gas bound for Europe and turned off the taps entirely on Jan. 7.

Russia resumed piping a limited amount of gas toward Ukraine on Tuesday after the EU secured a deal for its monitors check flows, but the gas did not reach Europe. Russia says Ukraine is blocking shipments to European consumers, while Kiev says Russia wants to send gas along a route that would disrupt supplies to Ukrainian consumers.

Geopolitical struggles over Ukraine's future and export routes for the energy riches of the former Soviet Union underlie the commercial dispute.

Russia and Ukraine have been at odds since the 2004 Orange Revolution brought Yushchenko to power. His avid push for Ukraine to join NATO and the EU has angered Moscow.

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Wall Street hopes for economic recovery in the second half of 2009 after terrible 2008

NEW YORK (AP) -- The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year -- the worst since the Great Depression, wiping out $6.9 trillion in stock market wealth. Six years of stock gains disappeared as the economy crumbled and markets crashed around the globe, shaking the confidence of professional and individual investors alike.

But the year's chaos went far beyond the stock market. Credit markets that drive lending became paralyzed, plunging the country further into recession and touching off an unprecedented rush for the safety of Treasury bills, notes and bonds. Commodities markets, usually ignored by most investors, soared on speculative buying and then collapsed when it became clear that the world economy was in trouble and that record high prices, including oil's peak above $147 a barrel, were unjustified.

"It was a feeling of flailing," said Jerry Webman, chief economist at Oppenheimer Funds Inc. "People couldn't get a grasp because there were not obvious historical precedents."

By the year's end, many market analysts were predicting that 2009 would be better, but that recovery would be slow as investors, shaken by the devastation to their portfolios, U.S. companies and the overall economy, remain reluctant to buy.

"I think this may be much more of a show-me market than we're used to. The market is going to be looking for some stabilization, increases in earnings, a few more positives before it begins to recover," said Webman.

Wall Street's stats for 2008 provide evidence of how stunningly terrible the year was:

-- The average price of a share listed on the New York Stock Exchange plunged 45 percent to $41.14 by the end of the year from $75.01 a year earlier.

-- The Dow Jones industrial average fell 33.8 percent for the year and 38 percent from its record close of 14,165.53 in October 2007, making it the Dow's worst year since 1931, when the country was in the midst of the Great Depression.

-- The Standard & Poor's 500 index, the indicator most watched by market pros, slumped 38.5 percent in 2008 and 42.3 percent from its 2007 high of 1,565.15.

-- Investors lost $6.9 trillion as relentless selling reduced the value of stocks across the market. That amount, measured by the Dow Jones Wilshire 5000 Composite Index, represented 38 percent of the total value of U.S. stocks at the start of 2008.

Yet the last week of the year was almost serene.

On Wednesday, the Dow rose 108.00, or 1.25 percent, to 8,776.39.

Broader stock indicators also rose. The Standard & Poor's 500 index gained 12.61, or 1.42 percent, to 903.25. The Nasdaq composite index rose 26.33, or 1.70 percent, to 1,577.03 and ended the year down 40.5 percent. It's down 44.8 percent from its recent peak in October; the Nasdaq's record high close of 5,048.62 came in March 2000 just before the end of the dot-com boom.

The Russell 2000 index of smaller companies rose 16.68, or 3.46 percent, to 499.45.

The tranquility was a welcome change in a year that was rocky from the start as worries about the financial system were fed by reports that banks had suffered billions of dollars in losses on securities tied to defaulting mortgages. The forced-sale of Bear Stearns Cos. in March unnerved Wall Street, yet it still managed to right itself through the spring.

The surging price of oil and other commodities dealt another blow to the market. As a barrel of crude leaped from $112 at the beginning of May to a once-unthinkable $147.27 on July 11. With retail gasoline prices soaring above $4 a gallon, stocks fell amid fears that consumers would have to cut back their spending because of higher energy prices.

But the market again stabilized -- until the September bankruptcy of one of the most venerable Wall Street investment firms, Lehman Brothers Holdings Inc., set off a panic on Wall Street and in the credit markets. Banks, fearing that other financial institutions would be unable to repay, stopped lending to each other. The market for short-term corporate debt known as commercial paper was frozen. Interest rates soared.

The only thriving part of the credit markets was government debt. Investors desperate for safety poured money into Treasury issues, particularly short-term bills. The yield on the three month bill plunged to zero, and briefly to a negative return, as investors decided no return or a slight loss was better than the losses on Wall Street or in commodities.

Wall Street's crash in 2008 didn't come in one day like the famous 22.6 percent plunge of Oct. 26, 1987. In many ways it was more nightmarish than Black Monday because there wasn't a quick end to the selling and record volatility.

From Sept. 15 to Nov. 20, when the Dow fell to a close of 7,552.29, the depths it had reached in the bear market of 2002, the blue chips rose or fell by triple digits 41 trading days out of 49.

Relative stability returned to the market during December. But Wall Street's horrific performance has cast a new mold for modern bear markets, often defined as a decline of more than 20 percent, and made expectations for 2009 so low that any reduction in the economic bloodletting would be considered a victory.

"Everyone is so down in the dumps about everything that I do think it gives you the opportunity to have a positive surprise if maybe the economy does turn quicker," said Bill Stone, chief investment strategist at PNC Wealth Management.

Wall Street is hoping for signs of recovery by the second half of 2009, including evidence the housing market has hit bottom, increased lending by banks and a drop in unemployment accompanied by increased consumer spending.

But for the near future economists and market experts predict more bad news.

"I have yet to see anyone who anticipates that the first half of next year is going to be rosy," said Dean Junkans, chief investment officer at Wells Fargo Private Bank.

But even a modest improvement in the economy, which has been in recession since last December, could help stocks extend their recent run.

"If you're standing still, walking is a pickup of speed," said Alan Levenson, chief economist at T. Rowe Price Associates Inc.

The government has helped calm markets with a $700 billion rescue of the financial sector and by agreeing to provide financing to the major U.S. automakers. The Federal Reserve slashed its benchmark interest rate to near zero to reduce borrowing costs.

Cheaper oil prices -- it settled at $44.60 a barrel on Wednesday -- are expected to help bolster the economy, draining less money away from consumers and businesses. The declining prices of other commodities, which have come down in response to rapidly waning demand for raw materials around the world, should also help.

In addition, some analysts believe the market will improve because so many investors have pulled out, leaving little room for more selling.

"Given the nasty carnage how much further risk is there?" said David Darst, chief investment strategist for Morgan Stanley's global wealth management group.

Still, the credit markets remain nearly stagnant as banks continue to be anxious about lending.

Corporate forecasts in January could help shape investor sentiment, even as expectations are modest.

David Kelly, chief market strategist at JPMorgan Funds, said the prospects for the market are "exceptionally uncertain."

For the market to hold its advance from November he contends the calmer trading of the past month must continue and president-elect Barack Obama's plan to boost the economy with spending on infrastructure must show it is working quickly.

"The great risk is we are in a wait-and-see economy," Kelly said. "What Obama needs to do is turn this into a do-it-now economy, give people a reason to buy."

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Obama's e-team: President-elect will nominate energy secretary, EPA admin.

President-elect Barak Obama plans to announce his top environmental advisors, and greens should have something positive to look forward to in the next four years.

Halting the problems associated with climate change and promoting renewable energy were part of Obama's campaign, and in a recent video message, he emphasized his plans to make government buildings more energy efficient. His new team will be well-positioned to advance all of these issues.

Obama's nominee for secretary of energy will be Steven Chu, a Nobel laureate in physics. Chu is currently director of the Lawrence Berkeley National Laboratory and would bring a sharp scientific perspective to the position. At the Berkeley labs, he pioneered research into a variety of cutting-edge renewable energy technologies.

According to the Huffington Post, Chu is a vocal advocate for climate change mitigation and believes that the 2007 Intergovernmental Panel on Climate Change report "likely underestimate[s] the severity of the risk posed by climate change."

Lisa Jackson will be the president-elect's choice to head the Environmental Protection Agency (EPA). She's already worked with Obama on his transition team, and she is the outgoing commissioner of New Jersey's Department of Environmental Protection. Before that, she worked at the federal EPA for 15 years, so she has plenty of experience in this agency. But the Daily Green reports that Jackson got mixed reviews from her peers in New Jersey

Obama plans to create a new position to coordinate energy and climate change issues, and Carol M. Browner will fill this role. Her green cred has been established with a lengthy career at the EPA and as chair of Audubon Society board of directors.

Several names are still in the running for secretary of the interior. John Berry, director of the National Zoo, is a top candidate, along with Arizona Representative Raúl Grijalva and California Representative Mike Thompson. Grijalva scores an 88% positive rating from the League of Conservation Voters, and Thompson scores 91%, so both have pretty strong environmental stances.

According to Grist.org, 58 conservation scientists delivered a letter to the president-elect supporting Grijalva for secretary of the interior. Grijalva also gets props from the Humane Society of the United States, while Thompson is somewhat criticized for his support of trophy hunting.

What about Al Gore? After Gore's support of Obama during the campaign, will the man who taught us an 'inconvenient truth' get a role in the new administration? Nope. Perhaps he's had enough of Washington D.C., because Gore has said repeatedly that he doesn't want a political job. His spokesperson commented this week: "Former Vice President Gore still believes his calling at this time is to help educate the public about the issues through his roles at the Alliance at Climate Protection and other work."

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AIDS: Rund 3.000 Neuinfektionen im Jahr 2008 in Deutschland

Berlin (Deutschland), 01.12.2008 – Anlässlich des Welt-Aids-Tages am 1. Dezember informieren die Massenmedien in aller Welt ausführlich zum Stand der Ausbreitung der tödlichen Immunschwächekrankheit, die durch das HI-Virus ausgelöst wird. In Deutschland leben im Jahr 2008 zwischen 60.000 und 67.000 Menschen, die entweder entweder durch HIV infiziert sind oder bereits an AIDS erkrankt sind. Im laufenden Jahr kamen in Deutschland rund 3.000 Neuinfizierte hinzu. Diese Zahlen legte das Robert Koch-Institut in Berlin anlässlich des Welt-Aids-Tages vor. In Deutschland steigt die Gesamtzahl der lebenden HIV-Infizierten seit 1995 durch die Einführung der erfolgreichen antiretroviralen Kombinationstherapien wieder an; der Gleichgewichtszustand zwischen der Zahl an Neuinfizierten und den an AIDS gestorbenen Patienten, der sich zuvor herausgebildet hatte, wurde damit beendet. Die verbesserten therapeutischen Möglichkeiten führten zu einer Verringerung der Zahl von AIDS-Todesfällen (AIDS-Mortalität), wodurch die Zahl der insgesamt lebenden HIV-positiven und an AIDS erkrankten Menschen zunahm. Trotz der (oder gerade wegen der) steigenden Zahl der HIV-Infizierten in Deutschland lassen sich also Erfolge des medizinischen Kampfes gegen die Immunschwächekrankheit nachweisen. Trotzdem bleibt die Tatsache, dass in Deutschland seit dem Ausbruch der Seuche (etwa Ende der 1970-er Jahre) rund 27.500 Menschen an AIDS starben. Im Jahr 2008 starben in Deutschland 650 Infizierte an AIDS.

Red Ribbon, das rote Band des Welt-Aids-Tages

Für Europa fällt die Bilanz der Weltgesundheitsorganisation (WHO) deutlich negativ aus. Seit dem Jahr 2000 stieg die Zahl der in Europa erfassten Neuinfektionen von 21.787 (im Jahr 2000) auf 41.949 (2007) jährlich an. Die niedrigsten Infektionsraten weisen Ungarn und Tschechien auf (11,8 pro einer Million Einwohner). Das Schlusslicht bilden drei Länder: Estland (472), die Ukraine (185) und Portugal (217). Deutschland liegt mit 20,5 Fällen pro einer Million Einwohner im Mittelfeld dieser Tabelle. Besonders schwierig ist die Entwicklung in der Ukraine einzuschätzen, wo sich die Epidemie nahezu ungebremst ausbreitet. Nach Angaben der WHO beträgt die Zahl der HIV-Infizierten in der Ukraine 440.000, darunter sind 190.000 Frauen. Der Fernsehjournalist Karsten Hein beschreibt die Ursachen dafür in einem Interview mit „Zeit online“ so: „Man kann die Aids-Epidemie nicht den Spezialisten der Medizin und Entwicklungshilfe überlassen, falls ich die Ursachenkette der Epidemie halbwegs richtig herleite: Gleichgültigkeit, Armut, Tuberkulose, Verwahrlosung und eine epidemische Drogensucht sind zu nennen.“

Vergleicht man die Verteilung der HIV-Infizierten nach anderen Gesichtspunkten, wie dem Geschlecht, so sind nach wie vor Männer die Hauptbetroffenen. Aber auch Frauen sehen sich in wachsendem Maße mit dem Risiko, an AIDS zu erkranken beziehungsweise sich mit dem HI-Virus zu infizieren, konfroniert. In Deutschland sind rund ein Fünftel der Infizierten Frauen. Eine weitere Risikogruppe sind inzwischen auch Kinder unter 15 Jahren, von denen laut WHO und UNAIDS etwa zwei Millionen mit dem Aidsvirus infiziert sind. Im Jahr 2007 infizierten sich etwa 370.000 Kinder neu mit dem HI-Virus.

Hauptgrund für die Ausbreitung von AIDS aus medizinischer Sicht ist nach wie vor der ungeschützte Geschlechtsverkehr zwischen Männern. Fast drei Viertel der Neuinfizierten infizieren sich auf diese Weise mit dem Erreger. Für diese Ursachenanalyse spricht auch das parallel beobachtete Ansteigen solcher sexuell übertragbarer Krankheiten wie Syphilis oder Gonorrhoe.

Quellen: Wikinews

 

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Spain launches €11 billion stimulus package

Spain has launched a €11 billion stimulus plan, which aims to boost the weakening economy and create 300,000 jobs. José Luis Rodríguez Zapatero, the Prime Minister of Spain, says that the money will be spent mostly in infrastructure and public works.

A portion of the package will aim to assist Spain's auto industry, which accounts for a fifth of Spanish exports and has been hit hard by the economic crisis, having seen sales plummet 54.6% since the beginning of the year.

The plan represents 1.1% of Spain's gross domestic product, and is a part of the €200 billion stimulus announced by the European Union.

Spain's economy is in a sharp downturn due to a crash in the construction sector. Spanish GDP shank 0.2% in the third quarter, the first such decline in fifteen years. Spain's unemployment rate reached 11.3% in September, a record for the European Union.

Germany launched a similar package worth €50 billion, and France is expected to launch economic measures worth €20 billion next week as well.

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Standoffs remain after Mumbai attacks

According to police, at least 151 people were killed and over 300 wounded in yesterday's attacks in Mumbai, India. The attackers, who were reportedly armed with AK-47 assault rifles and hand grenades, have taken hostages at three locations.

It is still unclear how many gunmen there were, but police say that at least nine of them have been killed in fighting. CNN-IBN quoted a source as saying there may have been 26 gunmen.

Commandos with the Rapid Action Force have stormed the Taj Mahal Palace & Tower and Oberoi Trident hotels. Ten hostages have been reported freed at the Oberoi, but it is unclear how many remain. Fresh explosions were heard at the Taj Hotel, but an official said that the situation is "almost sorted out."

Unconfirmed reports suggest one of the attackers is in custody.

"People who were held up there, they have all been rescued. But there are guests in the rooms, we don't know how many," said police chief A.N. Roy to Reuters.

A Jewish centre in Mumbai was also targeted by the attackers.

NSG has announced that the Taj hotel is now clear and all terrorists are killed. One cell phone with a foreign SIM card was found outside Taj hotel, which belonged to one of the terrorists.

24 bodies were found in the Oberoi Trident just a few minutes ago taking the number of dead from 125 to 149 confirmed and rising.

Detail map showing the eight attack sites in Mumbai

here are also hostages at Nariman House, the Indian headquarters for Chabad Lubavitch, an Orthodox Jewish group. Police have surrounded the building.

Manmohan Singh addressed his country on national television: "We intend to ensure the safety of our citizens. We salute the police and men who lay down their lives in fighting these terrorists."

"The well-planned and well-orchestrated attacks, probably with external linkages, were intended to create a sense of terror by choosing high-profile targets," he said.

An e-mail claiming responsibility by the Deccan Mujahideen has not been verified or confirmed.

"It's even unclear whether it's a real group or not," said Professor Bruce Hoffman, a terrorism scholar at Georgetown University.

Sources: WikiNews

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Large drop in US consumer spending

United States consumer spending dropped one percent in in October, the largest decline since September of 2001. Consumer spending, which makes up approximately two-thirds of economic activity in the United States, rose by 0.3% in September.

Meanwhile, the Commerce Department has stated that the pace of new home sales in October dropped by 5.3% to a seasonally adjusted annual rate of 433,000, their lowest rates since January 1991.

Other figures released yesterday say that the number of new jobless claims last week dropped to 529,000 from a sixteen-year high of 543,000 in the previous week.

Sources: Wikinews

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Los Angeles wildfires are nearly contained

The recent wildfires in Los Angeles, California, have burned more than 42,000 acres (17,000 hectares) of land. Nearly 1,000 homes were destroyed, and more than 10,000 residents were evacuated.

Los Angeles Mayor Antonio Villaraigosa expressed concerns that Los Angeles was on the verge of a blackout, and California Governor Arnold Schwarzenegger has declared the situation a state of emergency. In terms of property damage, this fire is the worst since the Bel Air fire in 1961. Los Angeles County Supervisor Zev Yaroslavsky stated, "Whether you live in a mobile home park or you live in an estate, when you lose your home it's devastating."

In Montecito, a census-designated place in Santa Barbara County, the homes of many celebrities, including Steven Spielberg, Steve Martin, Eric Schmidt, and Rob Lowe, have been destroyed. This massive fire has caused millions of dollars of damage and 13 injuries. Rob Lowe declared that "it was just like Armageddon."

According to one official, the fire started when ten students lit a bonfire on a ridge but failed to extinguish it. Although Santa Barbara County Sheriff Bill Brown believes that "this fire was the result of carelessness, not criminal intent," the county district attorney will still have to review the case.

Santa Ana winds with gusts up to 70 mph exacerbated the Montecito fire, which destroyed over 100 buildings and damaged many others, including Westmont College. The college's 1000 students were forced to take shelter in the gymnasium.

A spokesman for the college, Scott Craig, described the scene: "I saw flames about 100 feet high in the air shooting up with the wind just howling. Now when the wind howls and you've got palm trees and eucalyptus trees that are literally exploding with their hot oil, you've got these big, red hot embers that are flying through the sky and are catching anything on fire."

Officials now report that firefighters are making some progress. Of the three major fires, the Montecito Tea Fire is 95% contained; the Sayre Fire, 70%; and the Triangle Complex Fire, 75%. Officials have lifted the evacuation order for Chino Hills as well.

Sources: Wikinews

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'Mr. Prime Minister, Protect Masjid Al-Aqsa'

Turkish Prime Minister Recep Tayyip Erdogan has visited the Al Haram Al-Sharif complex during the second day of his Middle East tour. He was welcomed at the complex where former the Egyptian Minister Ahmed Tahir was killed in a Palestinian attack two years ago.

The Al Aqsa Mosque and the Wailing Wall, Jerusalem, Israel

Islam Association Director Adnan Hussein and Masjid Al-Aqsa officials have presented a Koran to Prime Minister Erdogan.

Attention was also drawn to the Israeli guards at the complex where any non-Muslims are forbidden to enter.

A Palestinian, approached the Prime Minister, and said, "Please, protect the masjid." Erdogan spoke with local children who chanted slogans and made the V-sign for victory.

An aerial view shows the Al-Aqsa mosque compound, Islam Third holiest site, in Jerusalem's Old City.

Erdogan later visited and prayed at Masjid Al-Aqsa and Qubbet Al-Sahra where it is believed that the Prophet Mohammed ascended into the sky.

The complex's foundation Chief Abdilazim Selah told Erdogan, "Your visit here has given us strength and drive. Here is not only a dome but also the symbol of our religion; it is a part of our belief. We cannot budge even a centimeter from this site or hand it over to others, we cannot divide and separate."

Foundation Director Adnan Hussein also said, "Aqsa Mosque will be protected until doomsday. It is the duty of all Muslims to protect this site."

 

Translation of Sahih Bukhari, Book 55

Narrated Abu Dhar:

I said, "O Allah's Apostle! Which mosque was first built on the surface of the earth?" He said, "Al-Masjid-ul-,Haram (in Mecca)." I said, "Which was built next?" He replied "The mosque of Al-Aqsa ( in Jerusalem) ." I said, "What was the period of construction between the two?" He said, "Forty years." He added, "Wherever (you may be, and) the prayer time becomes due, perform the prayer there, for the best thing is to do so (i.e. to offer the prayers in time)."

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The world's biggest party: Millions take to the streets to Celebrates Obama Victory

It was the extraordinary night which saw Barack Obama make history.

And after the most hotly-fought campaign in living memory, days of votes and hours of queues, Americans black and white took to the street to celebrate his landslide victory.

Towns and cities across the country were filled with the honking of horns, screams of joy, arms lifted skywards - and memories of civil rights struggles past.

Victory: 100,000 people crammed into Grant Park, Chicago to greet U.S. President-Elect Barack Obama

Chicago became the biggest open-air party in the world today as people flooded the streets to celebrate.

Hundreds of thousands of Americans streamed into the avenues, parks, hotels and bars, filling the air with cheers.

They held hands, hugged each other and danced with joy while television sets and giant screens showed the votes piling up.

'Yes we did! Yes we did!' chanted groups of door-knockers, updating their campaign slogan Yes We Can.

At the heart of the partying was Grant Park, which last saw this kind of hysteria when a Papal Mass was held in 1979.

Stars such as Brad Pitt and Oprah Winfrey could be glimpsed in a sea of 125,000 inside the park, all waiting for the president-elect to give his first speech.

Result: Supporters in Times Square, New York, hear Mr Obama has won (above) while revellers in Harlem seem overwhelmed

When the park was deemed full, just as many packed along Michigan Avenue and squeezed around TVs in hotel foyers.

'This is absolutely historic, unbelievable - incredible, for America, for the whole world,' said Atukwe Newell, 30.

In the true spirit of free enterprise, Obama-Biden car stickers that were being given away free a day ago were being sold in the street for $5 each.

T-shirts with the legend "Grant Park 08  -  i was there" were selling like hot cakes.

'Jeez, they are calling Pennsylvania already  -  it must be big,' said a shirt vendor, his ear pressed to a radio.

No alcohol was allowed in the park but people were getting drunk on joy.

'it's just about the most exciting thing in my lifetime,' said Winfrey.

Film director Spike Lee said: 'I'm just happy to be here  -  to witness it with my own eyeballs.'

This has been a long time coming,' said Linda Bogard, 57, who wore a bright orange vest and matching baseball hat studded with rhinestones spelling 'Obama'.

'It's been a good fight and a great victory.'

In Washington, DC, hundreds of residents spilled into the streets near the White House, carrying balloons, banging on drums and chanting 'Bush is gone!'

Along U Street, once known as America's Black Broadway for its thriving black-owned shops and theatres , men stood on car roofs, waving American flags and Obama posters.

Nearby, at historically black Howard University, hundreds of students erupted in cheers, broke into song and chanted, 'Yes, we did!'

'To be so young and have a voice in this election means a lot,' said Najauna Muschetta, who was celebrating her 19th birthday.

Elsewhere, there were smaller, quieter celebrations.

He said he was hardly able to believe that 40 years after he was left beaten and bloody on an Alabama bridge as he marched for the right for blacks to vote, he had cast a ballot for Obama.

'This is a great night,' he said. 'It is an unbelievable night. It is a night of thanksgiving.'

As the news of a projected Obama victory flashed across a TV screen, men in the nearly all-black crowd pumped their fists and bowed their heads.

Women wept as they embraced their children, and many in the crowd high-fived and raised their arms.

Screams of 'Thank you, Lord!' were heard throughout the sanctuary as the Rev. Al Sharpton took the stage with his arms raised in victory.

'At this hour, many of us never, ever, even until the last days, felt that we would ever see this,' he told the cheering crowd. 'We are grateful to those who paid the price.'

The audience joined hands as the Rev. Raphael Warnock of Ebenezer led a prayer for the president-elect before singing 'Lift Ev'ry Voice and Sing,' which is regarded as the black national anthem.

'Sisters and brothers, it looks like we have moved from Bloody Sunday to Triumphant Tuesday,' Warnock said, referring to the Alabama march led by Lewis that was violently suppressed but sparked support for the Voting Rights Act of 1965.

'It's morning in America.'

Martin Luther King III told the crowd that history was being made.

'Our father used to say that a voteless people is a powerless people,' he said.

'Something different happened in this election cycle.'

Surveying the scene, Mattie Bridgewater whispered from her seat, 'I just can't believe it. Not in my lifetime.'

Bridgewater said she went to the same elementary school as Emmett Till, the boy from Chicago whose murder in Mississippi was one of the catalysts of the civil rights movement.

Both she and her 92-year-old mother, who still lives in Chicago, voted for Obama.

'I'm sitting here in awe,' she said. 'This is a moment in history that I just thank my God I was allowed to live long enough to see. Now, when I tell my students they can be anything they want to be, that includes president of the United States.'

The scene in Phoenix, Arizona, where loser John McCain held his election night rally, was grim.

Some supporters stood with arms crossed,  anger etched on their faces.

Others expressed disappointment, even fear.

Shattered dreams: Mr McCain (centre left) greets running mate Mrs Palin with a kiss at the Arizona election night rally. The pair are flanked by Mr McCain's wife Cindy and Mrs Palin's husband Todd

Still others wiped away tears and grumbled when John McCain congratulated his opponent, America's first black president, for making history.

And it was clear on an election night like no other that the hard feelings of a hard-fought campaign would not fade anytime soon.
Jeri Mott, 58, of Tucson, listened to McCain's concession speech with her arms tightly crossed and a look of disgust on her face.

'I'm thinking that I'm real worried about what's going to happen tomorrow, especially about my troops,' said Mott, whose son recently enlisted in the Army.

As for the historic nature of the night, Mott didn't much care.

'I have no problem with an African American at the helm. It's his vision of what he wants to do that I have a big problem with.'

The night began appropriately enough with Elton John's 'I'm Still Standing' booming from the speakers at the Arizona resort where, 28 years ago, McCain and his wife, Cindy, celebrated their wedding.

Hundreds of supporters wore buttons and T-shirts proclaiming 'Victory 2008,' chanted McCain's name and, like the candidate they gathered to honor, projected optimism and faith.

But as the night wore on, organizers temporarily stopped broadcasting the returns overhead and announced few results, as if not to put a damper on the party.

Those they did disclose lagged behind national projections showing Obama gaining on McCain.

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