BLITZER: Wael, this is Wolf Blitzer in Washington. So first Tunisia, now Egypt. What’s next?
GHONIM: Ask Facebook.
BLITZER: Ask what?
BLITZER: Facebook. You’re giving Facebook a lot of credit for this?
GHONIM: Yes, for sure. I want to meet Mark Zuckerberg one day and thank him, actually. This revolution started online. This revolution started on Facebook.
You know, I always said that if you want to liberate a society, just give them the Internet. If you want to have a free society, give them the Internet.
Watch out for the canary in the Treasury coal mine – FT
Ask most investors where they are putting their money to work this year and not many will put up their hand and say US Treasuries… not only did the buyers turn up the next day, they did so in record numbers as 71.3 per cent of the $24bn issue was bought by large US and foreign investors, well above their recent average of 44 per cent.
It seems some large domestic and foreign investors, including central banks, are certainly happy buying Treasuries at current yields. Indeed, on Thursday, pension funds and long-term investors stepped up and bought a higher than usual share of the $16bn 30-year issue.
China Researcher: Emerging Economies Capital Inflows Face Some Reversal Risk-Report – WSJ
BEIJING (Dow Jones)–Emerging economies should be cautious as capital inflows to these markets face a higher risk of reversal this year, the central bank-backed Financial News reported Saturday, citing a researcher with an institute affiliated with the Ministry of Commerce.
Mei Xinyu, a researcher at the ministry-backed Chinese Academy of International Trade and Economic Cooperation, said emerging markets face difficult decisions in macroeconomic adjustment, and the U.S. and European economies have shown stronger data than expected.
The message for China from Tahrir Square – FT
The uprising in Egypt must have stunned Chinese leaders. Beijing has heavily censored news of the uprising, strongly indicating that the Chinese Communist party (CCP), which narrowly avoided collapse during a similar popular revolt in 1989, is gripped by the fear that it could encounter the same fate as befell Hosni Mubarak.
U.S. files two new trade cases against China with WTO – WashPost
The Obama administration said Friday that it had launched two new appeals against China to the World Trade Organization as new data showed the trade gap between the two countries rose to a record level last year.
First CDS traded and cleared under Dodd-Frank rules – FT
The first electronically executed and cleared credit derivative trades that follow the guidelines set out under the Dodd-Frank Act were conducted on Thursday via the Tradeweb platform
In final hours, defiance surprises U.S. and threatens to unleash chaos – WPost
After a week of crossed signals and strained conversations, the Obama administration finally had good news: Late Wednesday, CIA and Pentagon officials learned of the Egyptian military’s plan to relieve President Hosni Mubarak of his primary powers immediately and end the unrest that had convulsed the country for more than two weeks…
But the Egyptian president decided at the last minute to change the ending.
“Mubarak called an audible,” the official said.
The Egyptian president startled many of his aides with an address, unseen by others, in which he appeared determined to cling to office. The speech surprised and angered the White House, enraged Cairo’s legions of protesters and pushed the country closer to chaos, current and former U.S. government officials said in interviews recounting the events of the past 48 hours.
Uncharted Ground After Stunning End of Egypt’s Regime – NY Times
CAIRO — One revolution ended Friday. Another may soon begin.
In a moment that may prove as decisive to the Middle East as the 1967 Arab-Israeli war, 18 days of protest hurtled Egypt once again to the forefront of politics in the Middle East. In the uprising’s ambition, young protesters, savvy with technology and more organized than their rulers, began to rewrite the formula that has underpinned an American-backed order: the nation in the service of a strongman.
U.S. Economy: Sentiment Climbs to Eight-Month High – Bloomberg
Consumer confidence rose in February to the highest level in eight months as decreasing unemployment lifted Americans’ spirits.
IMF, EU tell Greece to privatize $67 billion in state assets – Canadian Press
ATHENS, Greece — European and IMF debt inspectors told Greece Friday to privatize euro 50 billion (C$67 billion) in state assets and push through a punishing overhaul of government-run institutions in the next few months to keep the country’s troubled finances afloat.
Unanimity on euro reform will be sought at summit – Irish Times
EURO ZONE leaders will be pressed to reach unanimous agreement on new competitiveness measures in the single currency area when they meet at a summit next month to discuss reforms to their bailout scheme.
With many countries strongly resisting a German drive to deepen the scope of European economic governance rules, the push for a unanimous deal suggests Berlin’s proposal may have to be watered down.
Ireland’s negotiating position is not strong but any dilution of the German plan would be to Dublin’s advantage, given fresh pressure to harmonise corporation tax rules or rates.
Weber agrees departure date in April – FT
Germany’s Bundesbank president will stand down at the end of April, it was agreed on Friday, after a week of confusion that threw into doubt the country’s chances of securing the European Central Bank presidency later this year.
Axel Weber would step aside with effect from April 30, the government said after a meeting in Berlin between the Bundesbank president and Angela Merkel, the chancellor.
Bank of Korea’s timid monetary policy – The HANKUOREK
Yesterday, the Bank of Korea’s (BOK) Monetary Policy Committee froze the key interest rate at 2.75 percent. This indecisive approach followed hints last month at the possibility of a hike. It is questionable whether such measures are capable of reining in rapidly rising consumer prices. The house has started burning, yet they continue to stress the need not to rush into anything.
Global Data Storage Capacity Totals 295 Exabytes: USC Study – eWeek
How much information is there in the world? University of Southern California researchers calculated that the world has access to enough data storage capacity to hold 295 exabytes (295 followed by 20 zeros) of information.
There are reports aplenty about technology driving a data explosion. University of Southern California researchers actually sat down and calculated that humans can store, communicate and compute about 295 exabytes of information, or about 404 billion CDs..
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