BAGHDAD: U.S. forces staged airborne raids
on Sunni insurgents on Thursday as a first
session of the new Iraqi parliament was
reduced to an empty gesture by deadlock on
forming a unity government seen as vital to
avert civil war.
Signs of movement to end the paralysis did
emerge, however, when U.S. and Iranian
officials said they could set aside years of
hostility to discuss Iraq. And Iraqi
political sources said a new alliance of
parties may be formed in hope of a
breakthrough.
The military said the offensive north of
Baghdad involving 650 U.S. troops and 800 Iraqis was fairly routine, but film released
by the Pentagon of soldiers being ferried to
landing zones provided a graphic image that
battles are continuing.
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TOKYO/BEIJING: Nippon Oil Corp.'s decision
to ease out some Iranian crude due to rising
political risks has rattled customers of the
world's fourth-biggest oil producer, but is
unlikely to be followed by a wave of
defections.
Several small Japanese buyers said they were
under corporate pressure to scale back
imports as Iran's rating as a stable
supplier is called into question amid the
ongoing dispute with the West over its
nuclear aims. But refiners across the region
said they were not contemplating similar
action.
The move highlights the difficulties Iran
may face in finding new markets as Tehran
lags other producers in investing in
overseas refineries, locking in future
demand.
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HONG KONG: As rising costs and cut-throat
competition put pressure on small and
medium-sized companies in China,
forward-looking manufacturers are looking to
develop their own brands to maintain profit
margins.
Their aim is to tackle China's conspicuous
failure so far to emulate the likes of South
Korea's Samsung Electronics and LG
Electronics, which have followed the lead of
Japan's consumer electronics giants and
carved out lucrative global names for
themselves.
"We're a factory, we're not Sony, but the
world is changing and we'll do whatever
retailers require," said Thomas Lam,
president of marketing at Starlight
International Holdings Ltd. (0485.HK:
Quote,
Profile,
Research).
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