Global commerce will grow 6.5% this year after expanding a record 14.5% in 2010 as economies from China to Brazil recover from the worst recession in six decades, the World Trade Organization said on Thursday.
Oil climbed to the highest level in 30 months in New York on Monday on speculation that US economic growth may support demand and a protracted conflict in Libya will curtail supply.
Venezuela’s president Hugo Chavez said on Wednesday during a press conference in Montevideo that the Libyan leader Moammar Gaddafi “is doing what has to be done, resisting an imperial aggression” and added that “it’s not anticipated that he has plans to leave Libya”.
US President Barack Obama has defended the first war launched under his presidency, insisting US military involvement in Libya will be limited. He told Americans US intervention as part of the coalition had saved countless lives threatened by the forces of the tyrant Muammar Gaddafi.
Nato has agreed to take command of enforcing the no-fly zone over Libya from the US. But Secretary General Anders Fogh Rasmussen made clear that other aspects of the operation would remain in the hands of the current coalition for now.
Several South American countries are demanding an immediate cease fire in Libya and questioning the intensity and extensive bombing by an alliance of NATO strike forces of several cities under Colonel Muammar Gaddafi’ control.
The international military campaign in Libya has created apparent divisions between coalition leaders carrying out the UN-sanctioned operation and other world powers.
Loud explosions have rocked the Libyan capital, Tripoli, for a third night as forces loyal to Muammar Gaddafi attempt to stop any new attack from an international military coalition enforcing a no-fly zone over the country, Al Jazeera reports.
A three-storey building in a military command centre used by Muammar Gaddafi has been destroyed in an air strike by coalition forces. The Sunday-night strike was the first reported attack on the Bab al-Azizia, a sprawling compound in the Libyan capital, Tripoli, that Gaddafi has used several times as a setting for televised addresses, and which was bombed by the United States in 1986.
United States President Barack Obama called his British and French counterparts on Thursday and the three agreed Libya must comply with a new U.N. Security Council resolution, the White House said.
Obama, British Prime Minister David Cameron and French President Nicolas Sarkozy also agreed that violence against the civilian population of Libya must cease.