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Volume 11 Issue 302 Rabi ul Awaal 3, 1433 AH / January 27, 2012 - $1
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Iran oil halt ‘would raise price 30 per cent’
The Bishwa Ijtema 2012 held in Tongi on the bank of Turag rive: The 46th Bishwa Ijtema was held on 13th January 2012 on the side of Tongi Turag river in Bangladesh. Bishwa Ijtema is the second-largest congregation of Muslims after Hajj. This Year Ijtema was held in 2 sessions. 13-15 and 20-22 January 2012.
NDP would win B.C. election if held today, poll shows The B.C. Liberals would be decimated if an election were called today, reduced to official Opposition status with 20 seats by the victorious Adrian Dix-led NDP, a new poll has found. The poll, conducted by Forum Research Inc., also predicted that the NDP would easily form a majority government if an election were called now, winning 57 seats, up from the 35 it won in May 2009 election. John Cummins’ Conservatives would win seven seats, they currently hold none, with independent Vicki Huntington (Delta South) poised to keep her seat, the poll found. The results are the latest in favourable polling for the NDP, which overtook the Liberals last month as the party of choice among voters, according to another poll by Angus Reid. Of
The International Monetary Fund (IMF) has warned that global crude prices could rise as much as 30 per cent if Iran halted oil exports as a result of US and European Union sanctions. If Iran halts exports to countries without offsets from other sources, it would likely trigger an “initial” oil price jump of 20 to 30 per cent, or about $20 to $30 per barrel, the IMF said in its first public comment on a possible Iranian oil supply disruption. The IMF highlighted the risks of rising tensions over Iran sanctions in a note on Wednesday sent to deputies from G20 countries who met in Mexico City last week. The price impact caused by a cut in Iranian exports could be exacerbated by below average oil stocks in many countries, the result of tight oil market conditions through much of last year, the IMF said. The fund’s comments add pressure on the Obama administration as it struggles to find a way to get countries to reduce shipments of Iranian oil without pushing prices higher ahead of the November US presidential election. President Barack Obama is tightening sanctions on Iran in a move aimed to deprive its nuclear programme of funds and technology, and the EU has slapped a ban on Iranian oil to take effect in six months. Western governments believe Iran is trying to build nuclear arms, a charge Tehran denies. In order to work around US and European sanctions, India reportedly plans to pay for oil it imports from Iran in gold. In response to the EU sanction plan, Iran’s parliament reportedly plans to begin debating a draft bill requiring the government to immediately halt oil exports to Europe, a prominent legislator said on Wednesday. The legislator said that the halt in oil production would do more damage to Europe than Iran, which sells only 18 per cent of its oil to members of the 27-member bloc. Financial sanctions against Tehran may be “tantamount to an oil embargo” and would imply supply declines of about 1.5m barrels per day from the world’s fifth-largest oil producer, the IMF said. That volume of supply
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