The Daily Business Digest

Pakistan came into a deal with China to built two nuclear reactors during the year 2009. This time the two countries have signed six deals on July 7 on Wednesday. The deal was signed when the president of Pakistan Asif Ali Zardari visited to China. The deal was even to cement the bilateral ties of the two countries Pakistan and China.

Chinese president HU Jintao signed a pact which covered many fields. The many fields which included during the deal were agriculture, health care, justice, media and economy. New projects in Pakistan would be soon started pledged China and assigned amount of $7.38 million has been assigned for projects. The people contracts will deepened as these two countries will work together and the improvement of both nations will raised.

The construction of two nuclear reactors will go ahead between the two nations a spokesman confirmed. The concerns over the deal has been passed on by countries like U.S and India. The nuclear reactors will be build under the international obligations said the report. To fight terrorism the two nations had joint anti terrorism drill known as friendship -2010 in northwest of China.

There has been strong relationship between China and rouge countries in the last decade, and that seems to be getting stronger.

The Venezuelan authorities have issued an arrest warrant for the owner of a private television channel fiercely critical of President Hugo Chavez.

Prosecutors accuse Guillermo Zuloaga, who owns the Globovision channel, of business irregularities.

Mr Zuloaga’s supporters say the warrant is an effort to silence him. The government says all due legal procedures have been followed.

Opposition groups accuse Mr Chavez of trying to control the media.

Israel will reject a proposed international commission to investigate its deadly raid on a Gaza aid flotilla, its ambassador to the US has said.

Michael Oren told US broadcaster Fox News that Israel has the ability and the right to investigate its own military.

UN Secretary General Ban Ki-moon had earlier telephoned Israeli PM Benjamin Netanyahu with the proposal.

Nine people died when Israeli commandos stormed the Turkish ship last week.

Turkish Prime Minister Recep Tayyip Erdogan has cancelled the Argentina leg of his tour of Latin America.

It comes after city officials in Buenos Aires called off an event inaugurating a monument to the revered founder of modern Turkey, Mustafa Kemal Ataturk.

The Turkish foreign ministry blamed “hostile” interference from Armenian pressure groups in Argentina.

Turkey and Armenia remain in a long-running row over the 1915 mass killing of Armenians by the Ottoman Turks.

The US government has imposed a blanket ban on all existing exploratory drilling operations and it has also stopped issuing any new environmental clearances. Also each of the existing projects would be put through a stringent environmental review and only those that pass through the review would be allowed to re-start the drilling work.
This would mean loss of hundreds and thousands of jobs for the already battered US economy and it would also result in higher cost of imports for US in the long term because more oil needs to be imported to feed the growing gas needs.
Also over the next few months, if the ban continues, there could be a surge in crude oil prices, which in turn could push up the inflation rate. That in turn would pull down the future economic recovery of the US economy, which the US economy can ill afford.
So we need to see how the Obama administration handles the complex problem. If you go by the lax way in which the US government has handled the financial reforms issue, we can reasonably expect the US government to recall the ban in a month or two, after the oil spill issue is sorted out fully.

The stockpile has 5,113 nuclear warheads as on September 30, 2009.Pentagon reports has revealed during this week. The congressmen have a same move from India, Pakistan, China and Russia. The report is revealed as a effort to increase transparency of global nuclear stockpiles.

The information is revealed so for non proliferation effort said the pentagon reports. Actually the 5113 represents some 84% reduction from the stock pile maximum. The stock pile maximum is 31,255 by 1967 end of the fiscal year. There is a reduction by 75% from 22,217 in 1989, the year when Berlin wall fell. The report was announced on the fact sheet on Monday.

Nuclear warheads as many as 8,748 were dismantled during the period of 1994 to 2009. Many nuclear weapons are retired and thousands are still waiting for dismantlement. The report said there is still non strategic nuclear weapon which has declined by 90%.The declined 90% is for the year of September 30, and the period of 1991 to2009.The release about the nuclear warheads details is released for the first time by Pentagon.

Iranian President Mahmoud Ahmadinejad has applied for a visa to visit the United States next week, the US says.

The application is apparently motivated by his wish to be at the nuclear Non-Proliferation Treaty (NPT) review conference next Monday.

US Secretary of State Hillary Clinton will be among more than 30 foreign ministers attending the opening day of discussions in New York.

The US says Iran is trying to build a nuclear weapon, but Tehran denies this.

Former Panamanian leader Manuel Noriega has appeared before French prosecutors after his US extradition and will fight charges against him, his lawyers say.

Noriega will argue French courts do not have jurisdiction to try him as he is immune from prosecution and because the statute of limitations has expired.

He was convicted in France in his absence in 1999 for money laundering but will face a new trial.

He spent more than 20 years in jail in the US on drugs charges.

US Secretary of State Hillary Clinton on Monday signed a “surrender warrant” and Noriega was taken to Miami airport and handed to French prison officials on an Air France plane.

Democrats have hailed the approval of legislation extending healthcare to an additional 32 million Americans as a historic advance in social justice.

The speaker of the House of Representatives, Nancy Pelosi said it was comparable to the establishment of Medicare and Social Security.

The bill was passed in the House on Sunday evening by just seven votes.

Republicans have vowed to continue to challenge it, saying it is too expensive and promotes big government.

Senator John McCain, the defeated presidential candidate, warned that outside the capital “the American people are very angry”.

“They don’t like it, and we’re going to repeal this,” he told ABC News.

President Barack Obama is expected to sign the bill as early as Tuesday, after which it will go to the Senate where Democrats hope it will be passed by a simple majority under budget reconciliation.

Taiwan is a very small country which got separated from China few decades back, and it is continuously under threat from China. China does not want any external interference in the issue, but it is the most juicy issue for US to keep haunting China easily.
So the US administration has now decided to sell six billion dollars worth of arms and high technology weapons to Taiwan. US says that the deal has been pending for the last several years and it has kept China informed on the negotiations.
Now China has hit back saying that further relationship between many US military companies and Chinese companies will be hit badly. It has gone ahead and notified banning of many US companies in future deals with China.