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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: Alan Smithee who wrote (5680)	3/13/2006 11:11:34 AM
From: Oral Roberts	Read Replies (1) \| Respond to of 71588

I can't imagine it not occurring to any foreign CEO. We've proven to them that their investments may become worthless based on our political maneuvering. Why risk that? I expect the European's are giggling with glee as the benefit will likely be theirs.

To: Alan Smithee who wrote (5680)	3/14/2006 11:07:09 AM
From: Oral Roberts	Respond to of 71588

And so it begins. As an aside yesterday in a business publication some senator was quoted as saying they are going to do the research on whether this deal should be allowed because it could still happen if no US company steps forward to buy their operations. I think it's starting to occur to some of them that they have screwed the pooch on this one. Arab central banks move assets out of dollar The "Independent UK" tells us that: "Middle Eastern anger over the decision by the US to block a Dubai company from buying five of its ports hit the dollar yesterday as a number of central banks said they were considering switching reserves into euros. The United Arab Emirates, which includes Dubai, said it was looking to move one-tenth of its dollar reserves into euros, while the governor of the Saudi Arabian central bank condemned the US move as "discrimination". Separately, Syria responded to US sanctions against two of its banks by confirming plans to use euros instead of dollars for its external transactions. The remarks combined to knock the dollar, which fell against the euro, pound and yen yesterday as analysts warned other central banks might follow suit. Last week the US caused dismay after political opposition to the takeover of P&O by Dubai Ports World forced DPW to agree to transfer P&O's US port management business to a "US entity" . The governor of the UAE central bank, Sultan Nasser al-Suweidi, said the bank was looking to convert 10 per cent of its reserves, which stand at $23bn (£13.5bn), from dollars to euros. "They are contravening their own principles," he said. "Investors are going to take this into consideration [and] will look at investment opportunities through new binoculars." Rest here billmillan.blogspot.com