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21 November 2008 - State & CommunityAngola-gate
Angola-gateThe trial in Paris of 42 individuals accused of involvement in illegal arms deals to Angola is threatening to upset efforts by the French president, Nicolas Sarkozy, to draw a line under more than a decade of troubled bilateral relations. After a seven-year investigation, the trial of the 42 individuals accused of involvement in arms trafficking to Angola in the 1990s finally got underway. The so-called "Angolagate" scandal involved arms sales to Angola worth US$790m in 1993-2000, during that country’s civil war, by a French businessman, Pierre Falcone, and his Russian-born associate, Arcady Gaydamak, in which numerous French and Angolan officials allegedly received pay-offs and gifts worth US$56m. Both Mr Falcone and Mr Gaydamak deny any wrongdoing.French point-scoring The trial is primarily a French affair involving the settling of scores between members of France's political elite, among them well-known figures such as Jean-Christophe Mitterrand, the son of the former French president, François Mitterrand, who was known as "Monsieur Afrique" due to his extensive dealings with African leaders; a former French interior minister, Charles Pasqua, whose 2002 presidential bid was effectively derailed by the investigation; and Jacques Attali, a former adviser to President Mitterrand, who until recently also worked for the current French president, Mr Sarkozy. If found guilty, the accused face hefty fines and up to ten years in prison.

So far no Angolan officials have been indicted in the trial which will focus on whether French nationals broke French law relating to arms-trafficking and bribery. Demands by the Angolan government's lawyers for the case to be dismissed, arguing that the trial could reveal sensitive military and diplomatic secrets which would constitute an attack on Angola's sovereignty, have been ignored. The investigation has proved hugely embarrassing to the Angolan government, with numerous allegations of bribe-taking and shady dealings by Angolan officials, including the Angolan president himself, José Eduardo dos Santos, as well as key figures from his administration, such as his chief of military affairs, General Helder Vieira Dias "Kopelipa", the former Angolan ambassador to Paris, Elísio de Figueiredo, and the former cabinet director, José Leitão da Costa. Oil and gas interests The long-running investigation has contributed to a disastrous period in Franco-Angolan relations. The French government has long been eager to improve its relations with sub-Saharan Africa's emerging power, which since early 2008 has overtaken Nigeria as Africa's largest crude exporter. Outraged at the steady stream of embarrassing revelations, and frustrated by the French government's inability to keep a lid on the investigation, the Angolan government has shown its displeasure by threatening the interests of the largest French company in Angola, the oil multinational, Total. In 2004 the government refused to renew Total's licence for shallow-water Block 3/80, and in 2005 it forced the company to relinquish unexplored acreages in its prolific ultra-deepwater Block 17, where the company has made some of the richest discoveries in the region, forcing it to rebid for the block and relinquish some of its Angolan assets in return. The recent start of the trial has made Total's Angolan operations the most likely victims of the production cut promised by the government to OPEC last month, and could fatally undermine Total's chances of securing acreage in the so-called "ultra-ultra deepwater" blocks that are due to be auctioned in 2009, where the future of oil production in the Gulf of Guinea is likely to lie once the fields in Angola's ultra-deepwater area have been exhausted.

 Offshore Conscious of the vulnerability of French interests in Angola, the French government has done its best to limit the damage caused by the Angolagate trial. Mr Falcone's lawyers have argued for a mistrial, citing a letter from the French defence minister, Hervé Morin, which states that in the French government's opinion no arms-trafficking had occurred, as the weaponry did not touch French soil. Mr Sarkozy has also launched a charm offensive, making his first official visit to Angola in May where he pledged to draw a line under previous misunderstandings, and inviting President Dos Santos to make a return visit to Paris next April. Mr Sarkozy has also reportedly assured Mr Dos Santos that Angolan officials will not see their reputations besmirched any further. However, the French government's influence over the French judiciary, which is fiercely protective of its independence, remains weak. Despite legal challenges by Mr Falcone's and the Angolan government's legal teams, the presiding judge, Jean-Baptiste Parlos, has insisted on pressing ahead with the cross-examinations, prompting a relentless stream of embarrassing revelations. Mr Falcone, who is currently in prison serving a sentence for an unrelated charge of tax evasion, will come under intense scrutiny during the trial, although he is expected to defend the Angolan government's reputation as it has gone out of its way to protect him from prosecution, in 2003 appointing him Angola’s ambassador to UNESCO (even though he is not an Angolan citizen) in a bid to grant him diplomatic immunity. Gaydamak appearance? Mr Falcone's alleged accomplice, Mr Gaydamak, was not expected to give evidence at the trial, as he is currently living in Israel, where he stood unsuccessfully in the Jerusalem mayoral election on November 11th, and cannot be extradited. However, in late October Mr Gaydamak announced that he would fly to Paris after the mayoral election had taken place to give evidence at the trial. This has greatly increased the stakes in the Angolagate trial as his revelations could prove immensely damaging to the Angolan government, especially as he is believed to have fallen out of favour with Mr Dos Santos. With the French government's credibility with Luanda hanging by a thread, Mr Gaydamak's revelations could also deliver the fatal blow to Mr Sarkozy's painstaking rapprochement with the Angolan government, and with a verdict expected in early March, a last-minute postponement of Mr Dos Santos's visit in April is increasingly likely.

altTimes of the bloody battles between the Apaches’ tribes and their pale faced enemies passed by many years ago. But such great Apaches’ chiefs as Geronimo, whose death’s anniversary will be next year on the 18th of December, are still a great part of American history. That’s why it’s no wonder that the ancient monuments and places of that period of the USA history are very famous among the modern Americans. So if you want to know more about this astonishing period of American history concerning Apaches tribes you may visit the White Mountain Apache Reservation ...

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altThe modern American society disputes a lot about the consequences of such historical event as Gadsden Purchase (also known as Treaty). To have a chance of taking part in this passionate debate we must come back in 1853-1854. So, the short excursus into history of the USA begins. Perhaps some of you know that the so-called Gadsden Purchase, many call it just Treaty, but in fact this is the agreement that was signed between Mexico and the United States, this process lasted since 1853 and finally ended in 1854 ...

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altNEW YORK (AP) -- A Democratic official says President-elect Barack Obama will name New Mexico Gov. Bill Richardson as commerce secretary.
Source: money.cnn.com Read more (496) ...

altNov. 24 (Bloomberg) -- Standard Chartered Plc, the U.K. bank that gets more than three-quarters of its profit in Asia, plans to raise 1.8 billion pounds ($2.7 billion) in a rights offer to bolster its finances as the global economic recession deepens. The London-based bank is offering existing shareholders 30 new shares for 91 already held at 390 pence apiece, or a 49 percent discount to the last closing price, according to a statement to Hong Kong's stock exchange today.
Source: bloomberg.com Read more (446) ...

altLEOMINSTER - President-elect Barack Obama rode a spirit of civic engagement among young people to victory, harnessing a hunger for service and belonging that was sweeping across the nation's high schools, college campuses, and online communities. But that hunger had been building long before Obama launched his campaign, and it is poised to continue growing long after he has left the White House
Source: boston.com Read more (433) ...

24 November 2008 - Citi dodges bullet
altNEW YORK (CNNMoney.com) -- The U.S. federal government on Sunday announced a massive rescue package for Citigroup - the latest move to steady the banking giant, whose shares have plunged in the past week. The plan has two key features: First, the U.S. Treasury and the Federal Deposit Insurance Corporation (FDIC) will backstop some losses against more than $300 billion in troubled assets.
Source: http://money.cnn.com Read more (402) ...

altObama's plans, outlined by his transition team yesterday, could put aside his campaign pledge to repeal a Bush tax cut for the wealthy. With the downturn in the economy, those tax cuts may remain in place until they are scheduled to die in 2011, said William M. Daley, an economic adviser.
Source: boston.com Read more (405) ...

APEC leaders commit to quick economic actionBy Chisa Fujioka and Oleg Shchedrov
LIMA (Reuters) - The United States, China, Japan and 18 other economies in Asia and the Americas promised fast and decisive action on Sunday to prevent a severe global economic downturn.
Source: reuters.com Read more (432) ...

President-elect Obama is on track to nominate Sen. Hillary Clinton as his secretary of state after Thanksgiving, three aides on Obama's transition team told CNN Thursday. Obama met last week with Clinton to discuss the possibility of her serving in his Cabinet.
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21 November 2008 - Angola-gate
Angola-gateThe trial in Paris of 42 individuals accused of involvement in illegal arms deals to Angola is threatening to upset efforts by the French president, Nicolas Sarkozy,
Source: economist.com Read more (399) ...

 




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