The United Nations is abruptly cutting its close ties with members of the ruling family of despot Muammar al-Qaddafi. A spokesman for the United Nations Development Program (UNDP), revealed that his organization had just terminated Qaddafi’s daughter Aisha as a National UNDP Goodwill Ambassador For Libya, “following the recent events.”
According to international organizations, 640 people have been killed and up to 4,000 wounded in clashes with government forces in Libya since protests against Gaddafi’s regime began reports were maintaining that Muammar Gaddafi’s only daughter, Aisha, was set to land in Malta on a Libyan Arab Airlines flight. The Arab Airlines ATR 42 turbo-prop aircraft flew to Malta without prior notice. The pilot gave details about the flight which was due to land at Malta International Airport on Tuesday, the Times of Malta said. The plane was denied permission to land and headed back to Libya after having circled for some 20 minutes trying to reverse the decision.
Aisha Gaddafi, a lawyer, had represented Saddam Hussein at the trial which led to his execution.
Eastern Libya Free of Gaddafi Control
Libya’s eastern province Cyrenaica is no longer under the control of country’s embattled leader Muammar Gaddafi, Italian Foreign Minister Franco Frattini said on Wednesday.
“Cyrenaica is no longer under the control of the Libya government and there are outbreaks of violence across the country,” Frattini said.
Oil Prices Soar Fear of Economic Recovery Stalling
With portions of Libyan production shut down by armed clashes across the country between opponents of Moammar Gadhafi’s four-decade regime and his supporters, global oil prices rose above $110 Wednesday.
Leading experts cast todays news
“If you go above $120 on a sustainable basis, you will have a meaningful shortfall in global growth relative to what the current consensus expects,” Jonathan Garner, Morgan Stanley, to Bloomberg Television
“One must simultaneously account for the fact that food prices are at an all-time peak when evaluating the impact of a twin commodity shock upon U.S. household incomes. The combined largely non-discretionary spending categories compete for share of wallet against discretionary spending … what American consumers are spending on food and energy as a share of their incomes is not far off 2008 levels.” Derek Holt and Gorica Djeric, Scotia Capital
“The turmoil in the Middle East has prompted a chorus of warnings that the world economy could be dragged back into recession if the price of oil continues to climb. We were already expecting global growth to be slower this year than in 2010, and slower still in 2012, as policy stimulus fades and underlying structural problems come to the fore again. But the oil price is unlikely to be pivotal … All in all, it makes more sense to focus on the impact of higher oil prices on individual economies on a case by case basis. For example, we estimate that a 10-per-cent increase in gasoline prices would cost U.S. consumers some $40-billion a year, equivalent to a reduction in real incomes of around 0.4 per cent.” Julian Jessop, chief international economist, Capital Economics