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Showing posts with label Breaks. Show all posts
Showing posts with label Breaks. Show all posts

Wednesday, June 22, 2011

Italy breaks ranks over NATO's Libya mission (AFP)

TRIPOLI (AFP) – Italy called Wednesday for a halt to Libyan hostilities to allow the delivery of humanitarian aid, as the civilian death toll mounted and state media said NATO was bombing highway traffic checkpoints.

On the diplomatic front, China said it recognises Libya's opposition National Transitional Council (NTC) as an "important dialogue partner."

"We have seen the effects of the crisis and therefore also of NATO action not only in eastern and southwestern regions but also in Tripoli," Italian Foreign Minister Franco Frattini told a parliamentary committee meeting in Rome.

"I believe an immediate humanitarian suspension of hostilities is required in order to create effective humanitarian corridors," while negotiations should also continue on a more formal ceasefire and peace talks, he said.

"I think this is the most urgent and dramatic point," Frattini continued.

"I think it is legitimate to request ever more detailed information on the results" of the NATO mission, he added, condemning "the dramatic errors that hit civilians, which is clearly not an objective of the NATO mission."

France, which has taken the lead in military operations against Moamer Kadhafi, immediately ruled out any pause in the Libya campaign.

"The coalition and the countries that met as the Abu Dhabi contact group two weeks ago were unanimous on the strategy: we must intensify the pressure on Kadhafi," French foreign ministry spokesman Bernard Valero told reporters.

"Any pause in operations would risk allowing him to play for time and to reorganise. In the end, it would be the civilian population that would suffer from the smallest sign of weakness on our behalf," he said.

NATO has been forced to defend the credibility of its air war after the alliance admitted firing a rogue missile that the Libyan regime says killed nine civilians, including children, in Tripoli.

"I would suggest that our reputation and credibility is unquestionable," said Wing Commander Mike Bracken, the mission's military spokesman.

"What is questionable is the Kadhafi regime's use of human shields, (and) firing missiles from mosques," Bracken told reporters from operation headquarters in Naples, Italy.

The blunder -- an embarrassment for a mission that prides itself on protecting Libya's people from the regime -- came on the heels of a friendly fire incident last week in which a column of rebel vehicles was hit by NATO warplanes.

The outgoing head of the Arab League Amr Mussa too voiced concerns about NATO's bombing campaign, in an interview with a British newspaper on Wednesday.

The veteran Egyptian diplomat, who played a key role in securing Arab support for the UN Security Council Resolution that authorised NATO air strikes, told the Guardian the bombing mission may not be working.

"When I see children being killed, I must have misgivings. That's why I warned about the risk of civilian casualties," he said.

Libyan state television and official news agency JANA meanwhile reported that NATO warplanes had carried out raids on the towns of Khoms and Nalut in western Libya.

NATO targeted two checkpoints in the Khoms region 120 kilometres (75 miles) east of Tripoli, the television report said. It added that the control points were "civilian" intended to "organise traffic movements."

If the strikes were confirmed, it would mean the Western alliance had moved into a new stage of operations in the west of Libya, aiming at checkpoints on the highways leading into the capital Tripoli.

Until now, NATO had limited itself to attacks on military installations and armour.

China meanwhile said it recognised Libya's rebel opposition as an "important dialogue partner", in a further sign of Beijing's willingness to get more deeply engaged in the Libyan conflict.

The praise for Libya's National Transitional Council (NTC) came in a statement by Chinese Foreign Minister Yang Jiechi after talks in Beijing earlier in the day with senior rebel leader Mahmud Jibril.

"China views it as an important dialogue partner," Yang said of the NTC, which is based in the eastern Libyan rebel stronghold of Benghazi.

The Chinese foreign minister added that since the council was established, its "representative nature has increased daily and it has gradually become an important domestic political force".

Beijing consistently opposes moves deemed to interfere in the affairs of other countries.

But energy-hungry China has held a number of meetings with Libyan rebels in recent weeks in an apparent sign that it wants a speedy end the conflict in the oil-rich north African state, where it has sizeable economic interests.


Yahoo! News

Wednesday, June 15, 2011

Bordeaux Breaks the Bank: Are Chinese Aficionados Fueling a Wine Bubble? (Time.com)

By THIERRY PHILIPPON / LE NOUVEL OBSERVATEUR / WORLDCRUNCH Thierry Philippon / Le Nouvel Observateur / Worldcrunch – Wed Jun 15, 5:40 am ET

This post is in partnership with Worldcrunch, a new global - news site that translates stories of note in foreign languages into English. The article below was originally published in Le Nouvel Observateur.

Asian millionaires' thirst for the best Bordeaux wines has sent prices skyrocketing, and the most prestigious ChAteaux have been turning astronomical profits as a result.

At a May 17 auction in Hong Kong, new Chinese millionaires were fighting over the few wines that ChAteau Latour - which was rated as First Growth under the 1885 Bordeaux Classification - brought out of its wine cellars. It took Christie's seven and a half hours to sell the 392 lots. ChAteau Latour, which belongs to FranCois Pinault, had planned to stimulate wine collectors' thirsts by putting 19th century wines up for auction, including one bottle dating back to 1863 which sold for 48,730 euros. (See "A Bordeaux Bubble.")

Was it record high? No. In October 2010, ChAteau Lafite Rothschild, which is located in the great wine-producing village of Pauillac and achieved First Growth status like ChAteau Latour, organized its first auction in Hong Kong since 1980. The highlight of the auction: buyers fighting over a bottle of ChAteau Lafite Rothschild 1869, which was sold for more than 160,000 euros.

But selling these almost unobtainable bottles also opens the way for winesellers to hike up the prices of their recent vintages. Christie's sold bottles of ChAteau Latour 2009 for 1870 euros a bottle, three times last year's price.

This incredible price surge reveals wine as a profitable investment, and has led to the blossoming of wine auctions in Hong Kong. The most prestigious ChAteaux go to Hong Kong to court Asian millionaires, whose passion for Bordeaux First Growths from the MEdoc and Saint-Emilion has led to record profits. (See 50 American wines.)

On June 19, at the Vinexpo - the international Wine Show which takes place in Bordeaux - two worlds will collide: For even while the top ChAteaux are booming, more modest Bordeaux wineries are sinking into recession.

These exceptional Bordeaux Growths are among big winners of the globalization of the wine market. "These ChAteaux are not producing more wine, but the number of people who want to drink a glass of ChAteau-Margaux at least once a year has increased very significantly," explains Pierre Lawton, a Bordeaux-based wine merchant for the Alias trading company.

"What is happening is unavoidable. Not a single prestigious ChAteau sells more than 200,000 bottles of its top wine," says HervE Berland, both owner of Mouton Rothschild and manager of Rothschild properties in the Philippines. "The wine market is increasingly globalized, we cannot fight that. If we want to sell less wine in China, they will go somewhere else to find it." (See how manufacturers are trying to make boxed wine look chic.)

Is this Chinese-spurred speculation creating a Bordeaux bubble? The ChAteaux want to believe that the wine market does not follow the traditional rules of economics: supply is very limited whereas demand is unlimited.

Hong Kong and China have become the two leading destinations for Bordeaux wines. Last year, according to the Bordeaux Wine Bureau, Hong Kong and China represent 27.5% of wine exports in the world.

The wine industry started booming in March 2008 when Hong Kong abolished wine taxes. The former British colony has become the world's number one market for the most expensive wine exports, followed by the US and UK.

That explains why auction houses have flocked to Hong Kong. "The Chinese buyers are seeking the prestige of having high-end wines," explains Charles Curtis, Head of Asia Wine Sales at Christie's. "This year, we are going to organize six auctions in Hong Kong. Last year, there was just one." (See "Should French Colleges Give Kids Wine Classes?")

Asian buyers have made a real, almost fetishist, cult of Lafite Rothschild. It may be in part the prestige of the Rothschild family, as well as the fact that this wine has been exported to China for a long time. "The price difference between Lafite and the other wines is so huge that many people decide not to drink them and resell their bottles instead to buy others," explains AngElique de Lencquesaing, one of the founders of the iDealwine.com website. She says a bottle of 1982 Lafite Rothschild worth 3,500 euros in France sells for 5,000 euros in Hong Kong.

Speculation is spreading even among wine lovers in Europe. Says Olivier Bernard, owner of the wine merchant company MillEsima: "I think that 35% of European private sales are speculative. In reality, the cases are resold in China."

Also from Worldcrunch:

Germany's Move Away from Nuclear Power Will Cost Europe
- Die Welt

Bilderberg: The Global Elite Meet Behind Closed Doors
- Le Temps

The Night They Served E. Coli For Dinner
- Die Welt

See how to pair the right wine with Asian food.

See 25 authentic Asian experiences.

View this article on Time.com

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