Replica Herve Leger Dress – Replica Dress Manufacturers, Suppliers

By Antonis Galanopoulos and Marcus Bensasson

Jan. 31 (Bloomberg) — Greek Finance Minister Evangelos Venizelos said the country’s private sector creditors could take a loss of more than 70 percent of the net present value of their bonds.

“We’re talking about a greater PSI than originally foreseen in July Replica Watches,” Venizelos said in Parliament in Athens today. “We’re talking about a 50 percent cut on the nominal value Replica Watches, and a loss on the net present value of more than 70 percent.”

To contact the reporter on this story: Antonis Galanopoulos at agalanopoulo@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net

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By Ian C. Sayson

Jan. 16 (Bloomberg) — Emerging-market stocks fell, dragging the benchmark index down the most in three weeks, on speculation European rating cuts in Europe will curb demand for riskier assets and as analysts lowered some price targets.

The MSCI Emerging Markets Index declined 0.8 percent to 945.78 as of 2:44 p.m. in Singapore, bound for the sharpest loss since Dec. 28. South Korea’s Kospi Index slid 0.9 percent. The Shanghai Composite Index dropped 1.4 percent before tomorrow’s release of data that may show China’s economy grew at the slowest pace in 10 quarters.

“The downgrades crystallize fears the European debt crisis may slow economic growth and temper risk appetite,” said Jonathan Ravelas, chief market strategist at Manila-based BDO Unibank Inc.

Standard & Poor’s stripped France of its top credit rating and cut eight other European nations on concern the region hasn’t done enough to contain its debt crisis. China’s economy may have grown 8.7 percent in the last quarter of 2011 Replica Watches, the slowest pace since the second quarter of 2009 Replica Watches, according the median 26 estimates in a Bloomberg survey.

China Southern Airlines Co. fell the most among companies in the MSCI index after Citigroup Inc. cut its recommendation on the stock to “sell.” Formosa Petrochemical Corp. also dropped in Taipei after UBS AG lowered its rating on the oil refiner to “sell.” Mediatek Inc. paced losses among Taiwanese technology companies after Sanford C. Bernstein reduced its price target.

The MSCI emerging-markets index has advanced 3.2 percent this year, compared with a 1.4 percent gain by the MSCI World Index of developed nations. MSCI’s emerging-nation gauge trades at 9.6 times estimated profit, down from 13.3 times at the end of 2010.

Greece Default

Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said Greece is heading for default. S&P’s downgrade of European ratings shows countries can fail to meet their debt obligations, Gross said in a Twitter posting. Greece will prove to be the latest example, Gross wrote.

China Southern fell 7.9 percent in Hong Kong. Vivian Tao and Alan Wang, analysts at Citigroup, lowered their recommendation to “sell” from “buy” and cut their price estimate by 36 percent. Air China Ltd. sank 4.9 percent after Citigroup reduced its price target by 20 percent.

Formosa Petrochemical lost 3.9 percent after UBS cut the oil refiner to “sell” from “neutral.” Mediatek slipped 4.4 percent after Bernstein lowered its price estimate on the company.

Farglory Land Development Co., Taiwan’s largest construction company, and Cathay Real Estate Development Co. advanced more than 1 percent. Taiwan property stocks are poised for a short-term rally after President Ma Ying-jeu’s re- election, because his party is less likely than the opposition to take steps to lower real-estate prices, Citigroup said.

– Editors: Richard Frost, Chan Tien Hin

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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By Massoud A. Derhally and Nicole Gaouette

Jan. 11 (Bloomberg) — Secretary of State Hillary Clinton said the Arab League monitoring mission in Syria has failed to deter the government’s violence against dissidents and should end.

The league sent monitors to Syria two weeks ago to judge whether the regime was adhering to its promises to end assaults by government troops, release political prisoners and follow through on other commitments.

“So far, the regime has not done so Replica Cartier watches,” Clinton said. The top U.S. diplomat added that it was “clear” that the “monitoring mission should not continue indefinitely. We cannot permit President Assad and his regime to have impunity.”

Clinton’s comments came as a top United Nations official said that Syrian security forces have persisted in deadly attacks on protesters throughout the monitors’ two-week observation mission, set to expire on Jan. 19.

About 400 people have been killed since the Arab League team arrived on Dec. 26 to monitor Syria’s implementation of an accord to end the crackdown, UN political chief Lynn Pascoe told the 15-member Security Council yesterday.

Clinton noted that 11 monitors were attacked two days ago. She said President Bashar al-Assad has only made excuses for the violence his troops are perpetrating, particularly in a speech Assad gave yesterday.

‘Only Making Excuses’

“Instead of taking responsibility, what we hear from President Assad in his chillingly cynical speech was only making excuses Replica Rolex watches, blaming foreign countries, conspiracies so vast that now it includes the Syrian opposition, the international community, all international media outlets, the Arab League itself,” Clinton said.

She spoke at the State Department after a meeting with Qatari Foreign Minister Sheikh Hamad bin Jassim bin Jabor al Thani. The foreign minister said he was glad the Arab League had taken the initiative.

“In the history of the Arab League, this is the first time that we are sending monitors,” al-Thani said. “I could not see up till now a successful mission, frankly speaking.”

The Arab League will produce a report after the mission ends which “will be very important for us to make the right judgment,” he said. “We cannot accept to let the situation as it is in Syria, and the people killed by their own government.”

‘Iron Fist’

The Syrian president vowed yesterday to use an “iron first” to resist what he described as foreign-backed efforts to divide his country, in his fourth national address since the uprising began in March. The UN estimates that more than 5,000 people have died.

At least 38 people were killed yesterday in Deir al-Zour, Homs, Qamishli, Idlib and in Hama, said the Local Coordination Committees, an activist group with members in Syria. The U.K.- based Syrian Observatory for Human Rights, which also has a network of activists in the country, put the death toll at 27 yesterday.

The observatory said three civilians and one army defector were killed in Hama today, while a strike was under way in Idlib over living conditions. Security forces opened fire on students rallying this morning in a suburb of the capital Damascus, it said.

Assad repeated his argument that the violence is a result of a “foreign conspiracy.” He said his priority is to restore security and that “terrorists” will be met with an “iron fist,” while denying that any orders had been given to security forces to fire on civilians.

’Irresponsible Acts’

Under an agreement with the Arab League, Syria’s government promised to withdraw military and security forces from urban areas, release political prisoners and allow observers into the country to monitor implementation of the accord.

Secretary-General Nabil el-Arabi condemned the attack on the monitors as “irresponsible acts and acts of violence” and said the Syrian government is responsible for the protection of its envoys.

Anwar Malek, an Algerian Arab League observer who resigned from his position saying he found himself serving the Syrian government’s interests, told Al Jazeera the Arab League’s monitoring mission wasn’t independent.

“What I saw was a humanitarian disaster,” Al Jazeera cited Malek as saying. “The regime is not just committing one war crime, but a series of crimes against its people,” he said.

Snipers are widespread and shoot at civilians, while people are being kidnapped and prisoners tortured, Al Jazeera cited Malek as saying. Security forces didn’t withdraw their tanks from the streets as the Syrian government claimed, but hid and then redeployed them after the observers left, he told the Doha- based news channel.

Increased Pressure

State Department spokesman Victoria Nuland said Malek’s observations correspond to reports received by the U.S. “His concerns are absolutely consistent with the reports we’re getting,” she said in a briefing with reporters today.

In a televised speech from Istanbul yesterday, Burhan Ghalioun, the leader of the Syrian National Council, an umbrella opposition group, called on Arab governments to increase pressure on Assad and urged the Arab League to raise the Syrian situation at the UN.

The Arab League imposed sanctions on Syria on Nov. 27. Russia and China have blocked efforts by the U.S. and the European Union, which also have imposed sanctions, for the UN Security Council to condemn the crackdown.

–Editors: John Walcott, Steven Komarow

To contact the reporter on this story: Massoud A. Derhally in Beirut, Lebanon at mderhally@bloomberg.net; Nicole Gaouette in Washington at ngaouette@bloomberg.net Flavia Krause-Jackson at fjackson@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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By Linda Sandler

(Updates with retainer in second paragraph.)

Dec. 29 (Bloomberg) — AMR Corp., the bankrupt parent of American Airlines, asked a judge to approve its hiring of Rothschild Inc. as a financial adviser and investment banker, with a promise of $15 million in fees on confirmation of a bankruptcy plan or restructuring transaction.

Rothschild, which is already on a $400,000 retainer from AMR Replica Tag heuer watches, would get a monthly fee of $200,000, so-called new capital fees of 1 percent to 3 percent of the amount raised, and reimbursed expenses, according to a court filing. The investment banking firm, which advised AMR before its bankruptcy, has valuable knowledge of the company’s finances and creditors, AMR said yesterday in its request to the judge.

Rothschild’s proposed fees fall within “the range of investment banking fees in other large and complex Chapter 11 cases,” AMR said.

AMR, based in Fort Worth, Texas, this month won permission to pursue a deal to buy 32 planes from Boeing Co. through 2012 and to reject leases on some aircraft as it reorganizes with a more competitive fleet.

U.S. Bankruptcy Judge Sean Lane in Manhattan is handling the bankruptcy of the third-largest U.S. airline company, which made its filing on Nov. 29.

The case is In re AMR Corp. Replica Cartier watches, 11-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

–Editors: Stephen Farr, Charles Carter

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net.

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net.

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By Emre Peker

(Updates with Erdogan’s efforts to end Kurdish unrest starting in first paragraph.)

Dec. 29 (Bloomberg) — Turkish jets killed 35 people in the southeast, underlining a dual challenge that Prime Minister Recep Tayyip Erdogan faces in pushing ahead with efforts to end Kurdish unrest through reforms while also fighting terrorism.

More than 20 people were also wounded and the count is increasing, said Hasip Kaplan, a parliamentarian with the pro- Kurdish Peace and Democracy Party, or BDP. The jets bombed Ortasu village in the Uludere district, killing smugglers who were operating along the border with Iraq, he said in a phone interview from Sirnak. Turkey’s military said it’s investigating the airstrikes.

The attack follows statements last week by two deputy prime ministers who said the government must recognize the Kurdish identity, give the country’s biggest ethnic minority constitutional and cultural rights and change legal criteria for what constitutes terrorism to allow some forms of amnesty to members of the Kurdistan Workers’ Party, or PKK. More than 40,000 people have died since fighting between the group and Turkey started in 1984.

Turkey’s National Security Council said operations against the PKK, listed as a terrorist organization by Turkey, the U.S. and the European Union, will “continue with determination” after a meeting in Ankara yesterday. The PKK staged its deadliest attacks since the 1990s in October, killing more than 30 soldiers, policemen and state-employed militia in the southeast.

Military Intelligence

The air force struck the region on the Iraqi border for about one hour starting at 9:37 p.m. last night, the military General Staff in Ankara said today in a statement on its website. The bombing followed images transmitted from drones of a group crossing into Turkey, the military said. The area is frequently used by the PKK, and the army had intelligence of a planned attack on its troops Replica Watches, according to the statement.

Turkey has killed at least 150 PKK members in air and artillery bombardments since August, according to the military.

Erdogan’s office and the interior and justice ministries haven’t returned his calls, BDP’s Kaplan said. He accused the Turkish media of ignoring the bombings. Officials from the premier’s press office and the ministries said no one was available to comment when contacted by Bloomberg.

Companies including Petrol Ofisi AS, Turkey’s biggest fuel retailer and a unit of OMV AG, have complained that smuggling from northern Iraq, where the PKK keeps a command center in the Kandil Mountains, provides unfair competition.

‘Clearly a Massacre’

“This is clearly a massacre,” Kaplan said. “No one is answering their phones, the government has outright closed off communications with us.”

The BDP said its co-heads, lawmakers Gulten Kisanak and Selahattin Demirtas, are travelling to Sirnak via Diyarbakir.

“This is a call to everyone in the media and those who want to protect human dignity: Don’t be complicit in this massacre with your silence,” Demirtas said today via his official Twitter Inc. account.

Sirnak’s governorship confirmed that 35 people had died and said one person was wounded during last night’s strike in an e- mailed statement today.

‘Democratic Opening’

Erdogan, who ordered airstrikes after an August attack and sent Turkish troops into northern Iraq to hunt down PKK members, recently approved proposals to renew his government’s so-called democratic opening of 2009.

The initial measures include faster prosecution of people accused of terrorism, said Deputy Prime Minister Besir Atalay, who is leading the effort. Also among the steps are ending long pre-trial imprisonments and lifting arrest warrants on those members of the PKK who voluntarily surrender and disarm, Sabah newspaper reported Dec. 27, without saying how it got the information.

Turkish policies of assimilation in the past resulted in a ban on the Kurdish language, torture in jails, death lists and murders by unknown assailants, Deputy Prime Minister Bulent Arinc told the Ankara parliament on Dec. 21.

“We have to respect a person living in Turkey who says, ‘I’m Kurdish and I’m proud of my identity,’” the deputy prime minister said. “We have to accept this.”

Arinc said the expression of non-Turkish ethnic identities shouldn’t be treated as terrorism. His comments followed the arrest of 48 people during raids Dec. 20 at 10 news organizations as part of an investigation into the Union of Communities in Kurdistan, or KCK Replica Watches, which prosecutors say is the PKK. A court in Istanbul jailed 35 of the people pending trial.

Turkey has detained more than 3,500 people and put 7,500 under surveillance in its investigation of the KCK, the BDP said in October.

–With assistance from Steve Bryant in Ankara. Editors: Digby Lidstone, James Hertling.

To contact the reporter on this story: Emre Peker in Ankara at epeker2@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net

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