Oil rebounds in Asian trade

SINGAPORE: Oil rebounded in Asian trade Friday from overnight falls but worries over sluggish US energy demand will likely cap the price surge, analysts said.

New York's main contract, light sweet crude for January delivery was 10 cents higher at 70.64 dollars a barrel.Brent North Sea crude for January delivery added 16 cents to 72.02 dollars a barrel.

Investors remained concerned over weak energy demand in the US, the world's biggest oil consumer, analysts said.

President Zardari, Aitzaz discuss politics

ISLAMABAD: Chaudhry Aitzaz Ahsan called on President Asif Ali Zardari here at the Presidency Thursday. Presidential spokesman, confirming the meeting, said the President and Aitzaz Ahsan had an exchange of views on the overall situation of the country including politics. On the other hand, Chaudhry Aitzaz Ahsan said that he has been offered a number of government positions but ‘I am not a candidate for any of these positions.’ It may be mentioned here that President Asif Ali Zardari had invited Aitzaz Ahsan over to the Presidency for the meeting.

17 children among 37 martyred in Pindi attack

RAWALPINDI: Thirty-seven people including 17 children, 10 civilians, 10 Army personnel embraced shahadat when terrorists attacked a mosque in Parade Lane, Rawalpindi, Saddar Friday. According to ISPR, reportedly 4 terrorists approached a mosque inside officers residential colony in Parade Lane, Rawalpindi Saddar and hurled grenades on Namazies followed by indiscriminate firing. Meanwhile two suicide bombers entered the Mosque and blew ... Full Story

Obama receives Nobel Peace Prize

OSLO: President United States Barrack Hussain Obama received the Nobel Peace Prize here at a prize distribution ceremony on Thursday.

Speaking on the occasion, the U.S. President said, “I would be remiss if I did not acknowledge the considerable controversy that your generous decision has generated. In part, this is because I am at the beginning, and not the end, of my labors on the world stage.”

He said the most profound issue surrounding his receipt of this prize is the fact that he is the Commander-in-Chief of a nation in the midst of two wars. One of these wars is winding down, he added.

He continued:

A decade into a new century, (the) old architecture is buckling under the weight of new threats. The world may no longer shudder at the prospect of war between two nuclear superpowers, but proliferation may increase the risk of catastrophe. Terrorism has long been a tactic, but modern technology allows a few small men with outsized rage to murder innocents on a horrific scale.

Moreover, wars between nations have increasingly given way to wars within nations. The resurgence of ethnic or sectarian conflicts; the growth of secessionist movements, insurgencies, and failed states; have increasingly trapped civilians in unending chaos. In today's wars, many more civilians are killed than soldiers; the seeds of future conflict are sewn, economies are wrecked, civil societies torn asunder, refugees amassed, and children scarred.

I face the world as it is, and cannot stand idle in the face of threats to the American people.

. . A non-violent movement could not have halted Hitler's armies. Negotiations cannot convince al-Qaida's leaders to lay down their arms. To say that force is sometimes necessary is not a call to cynicism -it is a recognition of history; the imperfections of man and the limits of reason.

I raise this point because in many countries there is a deep ambivalence about military action today, no matter the cause. At times, this is joined by a reflexive suspicion of America, the world's sole military superpower.

Yet the world must remember that it was not simply international institutions -not just treaties and declarations -that brought stability to a post-World War II world. Whatever mistakes we have made, the plain fact is this: the United States of America has helped underwrite global security for more than six decades with the blood of our citizens and the strength of our arms.

. . . So yes, the instruments of war do have a role to play in preserving the peace. And yet this truth must coexist with another -that no matter how justified, war promises human tragedy. The soldier's courage and sacrifice is full of glory, expressing devotion to country, to cause and to comrades in arms. But war itself is never glorious, and we must never trumpet it as such.

I believe that all nations - strong and weak alike - must adhere to standards that govern the use of force.

. . . Furthermore, America cannot insist that others follow the rules of the road if we refuse to follow them ourselves. For when we don't, our action can appear arbitrary, and undercut the legitimacy of future intervention -no matter how justified.

. . . I believe that force can be justified on humanitarian grounds, as it was in the Balkans, or in other places that have been scarred by war. Inaction tears at our conscience and can lead to more costly intervention later. That is why all responsible nations must embrace the role that militaries with a clear mandate can play to keep the peace.

America's commitment to global security will never waiver. But in a world in which threats are more diffuse, and missions more complex, America cannot act alone. This is true in Afghanistan. This is true in failed states like Somalia, where terrorism and piracy is joined by famine and human suffering. And sadly, it will continue to be true in unstable regions for years to come.

Afghanistan troop drawdown won't be steep: Obama

OSLO: President Barack Obama said that the withdrawal of U.S. troops from Afghanistan, set to start in 19 months, will be gradual and U.S. aid to that nation will last for years.

"We're not going to see some sharp cliff, some precipitous drawdown," Obama told reporters in Oslo, where he traveled to accept the Nobel Peace Prize.

The president said he is sticking to his plan to start the drawdown in July 2011, but he signaled that