U.N. agency says Bangladesh no longer a “high risk” piracy area

Saleem Samad – AHN News Correspondent
Dhaka, Bangladesh (AHN) – Bangladesh has been removed from a list of “high risk” piracy prone areas compiled by the International Maritime Bureau (IMB), an anti-crime warning unit of International Chamber of Commerce. Bangladeshi authorities lobbied the IMB to remove itself, since the designation increased the cost of insurance to cargo ships destined for Chittagong in the Bay of Bengal. Foreign Affairs Secretary Khurshed Alam confirmed to news on Sunday. Bangladesh wrote a protest letter on December 20. In the protest letter, Bangladesh stated that incidents reported to the IMB were mostly “petty thefts” or “robbery” and under no circumstances constituted genuine “piracy” since they took place well within 200 nautical miles [...] Continue Reading…

White House prepares third U.S. debt ceiling hike

Matthew Borghese – AHN News Contributor
Washington, D.C., United States (AHN) – President Barack Obama’s administration is preparing to ask Congress to raise the national debt ceiling by $1.2 trillion. Congress is expected to approve the measure, having reached a hard-fought deal in summer to extend the debt ceiling and fund the government. Overall, the United States debt ceiling will rise to $16.39 trillion, a record high. Both houses of Congress are currently in recess, and House lawmakers won’t return to regular session until January 17, 2012. The U.S. Senate isn’t scheduled to meet again this year, and will return January 23, 2012. If the White House and Treasury Department announce plans to raise the debt [...] Continue Reading…

Somalia’s consultative meeting concludes in Garowe

Mohamed Hassan – AHN News Mohamed Shiil
Garowe, Somalia (AHN) – The second phase of the United Nations-sponsored consultative meeting on national unity concluded Saturday in Garowe, capital of the semi-autonomous region of Puntland. Somali President Sheikh Sharif Ahmed, Parliament Speaker Sharif Hassan and Prime Minister Abdiweli Mohamed met with representatives from Puntland, Galmudug and Sufi militia Ahlu Sunna Wal-jama’a to settle a bitter dispute over the 4.5 formula of power sharing in Somalia. “The most disputed item was the 4.5 formula and at last we have resolved ” said Abdirahman Farole, president of Puntland, speaking at the closing ceremony. The 4.5 formula sets aside seats in the the parliament, Four major clans receive the majority of [...] Continue Reading…

Treasury sells 30-year bonds at record lows

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – The U.S. Treasury Department sold $13 billion in 30-year bonds Wednesday at a record low yield of 2.925 percent. Despite the debt security having the lowest yield on record, investors in the U.S. and around the world still have a hearty appetite for the long bond. Bidders offered to buy 3.05 times the amount of debt sold, compared to an average of 2.81 times at the last four comparable auctions. Indirect bidders, those that include global central banks, bought 32.5 percent of the sale, compared to 36.1 percent on average. Direct bidders–domestic money managers–purchased another 21.2 percent, versus an average of 19.5 percent. [...] Continue Reading…

U.S. cautious in reaction to death, succession in North Korea

Tejinder Singh – AHN News Correspondent
Washington, DC, United States (AHN) – Officials across the U.S. government reacted with caution Monday to the weekend death of North Korean dictator Kim Jong Il, instead collectively conveying America’s unwavering commitment to South Korea. Defense Secretary Leon E. Panetta spoke with South Korean Defense Minister Kim Kwan-jin about the death of North Korean dictator Kim Jong Il in a 15-minute telephone call Monday morning, Pentagon press secretary George Little told journalists. “The secretary conveyed to Mr. Kim the strong commitment of the United States to peninsular stability and to our alliance,” he said. “He made it clear that the United States stands with Korea in this time of uncertainty.” “Both [...] Continue Reading…

HHS gives states flexibility on health law’s ‘essential benefits’

United States (KaiserHealth) – States will be given wide latitude to decide what “essential benefits” insurers must offer in policies offered on new health exchanges come 2014, the Obama administration said Friday in a move that pushes off final federal rules on those benefits until sometime next year. Instead of one national standard, states will be able to design benchmark plans based on one of four choices: The benefits offered in one of the three largest federal employee plans (by enrollment), one of the three largest plans offered to their state employees, one of the three largest small-business plans in the state or the plan offered by the largest HMO in the state. Those benefits, which must [...] Continue Reading…

Moody’s downgrades top three French banks

Linda Young – AHN News Writer
Paris, France (AHN) – Moody’s announced Friday it was downgrading the credit rating of all three of France’s top banks because of the difficulty they have borrowing money. Credit Agricole and BNP Paribas went down one notch from a Aa2 rating to Aa3, which is the fourth-highest investment grade rating. Societe Generale fell from Aa3 to A1, the fifth-highest rating. The best rating a bank can get is AAA. BNP is the largest bank, Societe Generale is second and Credit Agricole is third. The credit rating agency also gave each of the three a negative outlook and warned that it might downgrade them again. Moody’s said that not only had [...] Continue Reading…

Skip the raw cookie dough–always, scientist warns

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – Come on. Fess up. You always sneak a sample of the raw cookie dough and savor licking the sticky, sweet, battered spoon. Well, new research warns that you should put the spoon in the sink for a good washing, and resist the temptation for a taste of the gooey treat. According to a new report from the Centers for Disease Control and Prevention, nasty and potentially harmful germs lurk in ready-to bake cookie dough. The findings say raw cookie dough caused 77 people in 30 states to become sick in 2009; 35 got so ill they required hospitalization. After learning of the outbreak, [...] Continue Reading…

Presidential Pardons Heavily Favor Whites

ProPublica Staff
Washington, DC, United States (ProPublica) – by Dafna Linzer and Jennifer LaFleur First of two parts. This story was co-published with The Washington Post. White criminals seeking presidential pardons over the past decade have been nearly four times as likely to succeed as minorities, a ProPublica examination has found. Blacks have had the poorest chance of receiving the president’s ultimate act of mercy, according to an analysis of previously unreleased records and related data. Current and former officials at the White House and Justice Department said they were surprised and dismayed by the racial disparities, which persist even when factors such as the type of crime and sentence are considered. “I’m just astounded [...] Continue Reading…

Prosecutors seek 15-20 years in prison for Blagojevich

Matthew Borghese – AHN News Contributor
Chicago, IL, United States (AHN) – Former Illinois governor and now convicted felon Rod Blagojevich is back in court as lawyers argue over his sentencing. In one week, U.S. District Judge James Zagel will sentence Blagojevich in the final act of his fall from the governor’s mansion’s grace. Prosecutors are calling for a long prison term in a 21-page sentencing brief filed before the court. Assistant U.S. Attorney Reid Schar says the former governor belongs behind bars for between 15 to 20 years. “[Blagojevich], has refused to accept any responsibility for his criminal conduct and, rather, has repeatedly obstructed justice and taken action to further erode respect for the law,” according to [...] Continue Reading…