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Pakistani security officials said on Monday that troops had fired on U.S. military helicopters and forced them to turn back to Afghanistan, but both the Pakistani and American militaries denied the incident … The New York Times reported last week that President George W. Bush has given clearance for U.S. raids across the border. The raid on Angor Adda on September 3 was the first overt ground incursion by American troops into Pakistan since the deployment of U.S. forces in Afghanistan in late 2001. At least 20 people, including women and children, were killed in that South Waziristan raid, sparking outrage in Pakistan and prompting a diplomatic protest. Pakistani army chief General Ashfaq Kayani said in a strongly worded statement last week that Pakistan would not allow foreign troops on its soil and Pakistan’s sovereignty and territorial integrity would be defended at all costs.

Tags: Afghanistan, Ashfaq Kayani, Pakistan, US military, war, Waziristan by mike
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An exodus of foreign capital is forcing Russian banks to slash lending as the international reaction to the country’s military stand-off with Georgia starts to affect the real economy. Bankers say Russia is facing its worst crisis since the August 1998 default. The Russian stock market has plummeted more than 40 per cent since May. A flight of capital estimated by analysts at up to $20bn (€14bn, £11bn) since the start of the conflict is drying up liquidity. The Russian trading system index fell another 7.5 per cent yesterday to its lowest level since June 2006 … Cash held by banks on deposits at the central bank has been falling day by day, reaching a low of 638.4bn roubles ($25bn, €18bn, £14bn) yesterday from 675.6bn the day before.

Tags: banking, finance, Georgia, money, Russia, Vladimir Putin, war by mike
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The death toll is rising as fighting continues in the breakaway Georgian province of South Ossetia, with the latest reports saying that more than 1,500 lives have been lost and at least two Russian fighter jets shot down … the Georgian military commander said on Saturday that his country will recall all of its 2,000 soldiers from Iraq to join the fighting at home … A US military spokesman said the departure of the Georgian contingent – the third largest contributor to international forces after the US and Britain – will have “some impact” in the near term but no significant long-term effect on Iraq’s security.

Tags: Georgia, Iraq, Russia, war by mike
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