U.S. Iraq security pact advances amid objections
U.S. and Iraqi negotiators reached a draft Status of Forces Agreement outlining a 2009 Baghdad pullout, with U.S. troops leaving Iraqi cities by mid year and exiting by December 31, 2011 unless asked to stay. It grants limited immunity to off base crimes and mirrors State Department immunities for civilian DoD staff, but faces possible opposition from Iraqi and U.S. lawmakers and prompts consideration of extending U.N. authority if needed.
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Emerging markets suffer as foreigners withdraw
The global financial crisis erodes demand for emerging market assets as foreign investors pull back to meet redemptions. Traders like Grace Varghese in Bangalore face big losses, while officials from Lula to Chidambaram urge calm as markets slip, risk rising hunger, and Brazil's Petrobras and Vale suffer from lower commodity prices. The Sensex slides nearly 50 percent this year amid $10.6 billion in FIIs pulled from India.
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China
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Petrobras
Idea Global
New York
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