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Archive for Monday, October 8, 2001

Briefly

October 8, 2001

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United Nations

Security Council to get briefing on attacks today

The U.N. Security Council will meet today at the request of the United States and Britain to discuss the air strikes on Afghanistan, a U.N. spokesman said Sunday.

U.S. and British diplomats are expected to brief the other 13 council members at the closed-door meeting, scheduled for 4 p.m. CDT, U.N. deputy spokesman Manoel de Almeida e Silva said.

The council unanimously adopted a resolution the day after the Sept. 11 terrorist attacks on the United States recognizing the U.S. right to "individual or collective self-defense."

It called the attacks "a threat to international peace and security" and expressed readiness "to take all necessary steps" to respond to the U.S. attacks and to combat all forms of terrorism.

The council followed up with another tough resolution on Sept. 28 that requires every nation to stop providing money, support and sanctuary to terrorists.

California

Bombings may boost price of gasoline

Gasoline prices fell a record 10.81 cents in the past two weeks, but Sunday's bombing of Afghanistan could send prices higher, according to the new Lundberg survey.

"Prices certainly could shoot up if there is any implication for oil supply out of the Middle East," analyst Trilby Lundberg said.

The average price of gasoline on Friday, including all grades and taxes, was $1.43 a gallon, down 10.81 cents since Sept. 21, according to the Lundberg Survey of nearly 8,000 stations nationwide.

The national, weighted average price of self-serve regular, the largest selling grade of gasoline, fell 10.83 cents to $1.40.

Prices fell in large part because consumers canceled trips and curtailed travel following the Sept. 11 terrorist attacks in New York and Washington, Lundberg said.

Crude oil prices have also fallen because of low demand and bulging gasoline inventories, she said.

Hong Kong

Asian markets fall on news

Shares fell across the Asia-Pacific region early today, with the U.S. and British strikes on targets in Afghanistan throwing fresh uncertainty into markets that were already jittery.

Traders had expected military action in response to the Sept. 11 terror attacks in New York and Washington but the timing was a surprise, and many investors were staying out of the market until they could see Wall Street's reaction.

Prices were off by 0.2 percent in the South Korean capital by late morning, after largely recovering from a steeper early decline.

The early damage was more severe in other markets. Hong Kong shares showed a loss of 2.5 percent in the first few minutes of trade, while prices were off by 2.5 percent in Singapore, 3.9 percent in Manila, 1.9 percent in Taipei and 2 percent in Kuala Lumpur in the late morning.

Australian shares had slid by 1.4 percent by early afternoon, while New Zealand shares fell by 0.4 percent.

Asia's top stock exchange, Tokyo, was closed today for a public holiday.

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