CA-NEWS Summary

Cyprus seeks Russian rescue, EU threatens cutoff

NICOSIA/MOSCOW (Reuters) - Cyprus pleaded for a new loan from Russia on Wednesday to avert a financial meltdown, after the island's parliament rejected the terms of a bailout from the EU, raising the risk of default and a bank crash. Cypriot Finance Minister Michael Sarris said he had not reached a deal at a first meeting with his Russian counterpart Anton Siluanov in Moscow, but talks there would continue.

Obama arrives in Israel, vows undying support

JERUSALEM (Reuters) - Making his first official visit to Israel, President Barack Obama pledged on Wednesday unwavering commitment to the security of the Jewish State where concern over a nuclear-armed Iran has clouded bilateral relations. He also stressed the need for Middle East peace at the start of a three-day trip aimed at resetting fraught relations with both the Israelis and Palestinians. But U.S. officials have said Obama had come to listen and had no new initiatives to offer.

North Korea's Kim supervises "drone attack" drill

SEOUL (Reuters) - North Korean leader Kim Jong-un supervised a drone attack on a simulated South Korean target on Wednesday, Pyongyang's KCNA news agency reported, and the armed forces shot down a target mimicking a cruise missile. North Korea has stepped up its military exercises in response to what it regards as "hostile" joint drills by South Korea and the United States after Pyongyang was sanctioned by the U.N. Security Council for a nuclear test in February.

Afghanistan, NATO agree on troops leaving key province

KABUL (Reuters) - Afghanistan and NATO-led forces have reached a deal on foreign troops leaving a key strategic district near Kabul, coalition forces said, but a controversial expulsion order against U.S. special forces from the entire province remained unclear. An Afghan defense ministry spokesman told reporters in Kabul that the elite American force would quit the whole province of Wardak within a few days, despite U.S. concerns that their departure would leave a security vacuum.

Lew's China visit ends with focus on currency, cyber security

BEIJING (Reuters) - Treasury Secretary Jack Lew wrapped up a two-day visit to China on Wednesday having reopened dialogue on pressing issues of economic reform but saying more action is needed on China's exchange rate. Lew, in his first international trip since taking office last month, also raised concerns about security issues involving cyber threats and North Korea.

Italian president seeks way out of political stalemate

ROME (Reuters) - Italian President Giorgio Napolitano began consultations with political leaders on Wednesday to try to find a way of forming a government after the deadlocked election last month which left no party with a majority in parliament. Senate speaker Pietro Grasso said after meeting Napolitano the president was determined to reach an accord, saying there was "an absolute necessity to give the country a government".

Al Qaeda claims attacks on Iraq invasion anniversary

BAGHDAD (Reuters) - Al Qaeda in Iraq has claimed responsibility for a wave of bombings and suicide attacks that killed around 60 people on the 10th anniversary of the U.S.-led invasion that ousted Saddam Hussein. A decade after U.S. and Western troops swept into Iraq to remove the Sunni strongman, Iraq still struggles to overcome violence, sectarian tensions and political instability that test the fragile unity among Shi'ites, Sunnis and ethnic Kurds.

Indian government unlikely to call snap election: sources

NEW DELHI (Reuters) - The Indian government is unlikely to call a snap election despite its biggest ally abruptly quitting the ruling coalition, as it needs time to implement flagship welfare schemes and hopes the economy will improve, government sources said on Wednesday. The withdrawal of the Dravida Munnetra Kazhagam (DMK) has rattled markets, which are worried that it has left Prime Minister Manmohan Singh unable to pass reforms needed to turn around the worst economic slowdown in a decade.

Five Syrian shells land in Lebanon despite warning

CHTAURA, Lebanon (Reuters) - Five shells fired from Syria landed in Lebanon on Wednesday, one day after Lebanese President Michel Suleiman warned that Syrian strikes on its neighbor were an unacceptable violation of its sovereignty. Witnesses said the shells landed in fields near al-Qasr, a village less than a mile from the border, but no one was hurt.

Pakistan to hold general elections May 11

ISLAMABAD (Reuters) - Pakistan will hold historic general elections on May 11, a presidential spokesman said on Wednesday, after the government completed its first full term in the country's troubled history. A caretaker administration will now manage the run-up to elections as the country struggles with Taliban violence, record sectarian unrest, chronic power cuts and a fragile economy.

Source: http://news.yahoo.com/ca-news-summary-000945250.html

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