Saturday, April 28, 2012

The Stars of Bravo's New Show Are Bringing Glamour to the Big Apple

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Bravo's 2012 line-up just got all the more fashionable, as the network prepares to unveil a new docu-series tentatively called Decades. The show will follow renowned boutique owners Christos Garkinos and Cameron Silver as they take viewers inside the exclusive and glamorous world of vintage couture filled with Givenchy, Balenciaga and Chanel.

While their boutique, also named "Decades," is situated in Hollywood, Christos and Cameron will be headed back to New York on April 26-28 for a Prada/Schiaparelli-inspired trunk show in honor of the upcoming Costume Institute Gala at The Metropolitan Museum of Art and to celebrate the launch of the Decades for Rent the Runway collection. The boutique owners took time out of their busy schedules to speak to In Touch about the upcoming show and series.

?Our store mantra has always been to encourage people to 'dress up!'" Cameron said. "At our upcoming New York event with Rent the Runway, we will have the perfect clothing and accessories to get people into the social-scene spirit ? whether you?re shopping for the Met gala or looking for a prom dress, we?ve got it all. We love New York! We can?t wait to bring the best of Decades to the Big Apple."

As for what will make the Decades show different than other fashion-inspired series, Cameron tells viewers to get their pencils ready. "It?s not only totally entertaining, but also truly informative. So for any fashion fan, it will be like Fashion 101 ? but unlike school, you?ll be giggling your way through it!?

For more information about Decades' New York trunk show featuring Rent the Runway, click here.

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Friday, April 27, 2012

NZXT's Cryo E40 laptop cooler sends a pleasant breeze wherever you like

NZXT's Cryo E40 laptop cooler sends a pleasant breeze wherever you like

NZXT is pretty good when it comes to avoiding unnecessary flourishes and providing straight-up PC hardware. Its Cryo E40 laptop cooler is no different, forgoing HDD slots and magic elixirs in favor of two 80mm fans that clasp magnetically to the underside of its steel mesh. These can be plucked off and moved around to suit your lappie's particular hotspots -- so long as you're using a 15-incher or smaller. The E40 rises to 60mm above the surface of your desk, covers an area 420mm wide by 300mm deep, and is powered via a USB cable that can also be shifted to the left or right to suit your ports. The price of all this flexibility? That'd be $28, please, with availability from next month.

NZXT's Cryo E40 laptop cooler sends a pleasant breeze wherever you like originally appeared on Engadget on Thu, 26 Apr 2012 06:58:00 EDT. Please see our terms for use of feeds.

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Thursday, April 26, 2012

Samsung's Q1 2012 profits nearly double year-over-year on higher margins for TVs and phones

Samsung's Q1 2012 profits nearly double year-over-year on higher margins for TVs and phones

The numbers for Samsung's first quarter of 2012 are in and as it expected they are up sharply over the same period from 2011. After predicting profits of 5.8 trillion won it managed to top that, notching an operating profit of 5.85 trillion won ($5.16 billion US) for the quarter, a 98 percent gain over a year ago. Phones accounted for 73 percent of the profit, contributing 4.27 trillion won to the bottom line. As the world awaits the debut of what we assume will be the Samsung Galaxy S III May 3rd powered by its Exynos 4 Quad CPU, there's clearly no shortage of demand for the Galaxy S II and Note. Sales of chips and TVs decreased from last quarter, but like its competitor LG, growing sales of high res tablet panels (we wonder which one that might be), 3DTVs and OLEDs increased profitability. Specifically, the high end 7000/8000 series of HDTVs increased sales by 50 percent from last year, while the company plans to focus on "region-specific" LED models for emerging markets, and high end (and high priced) flat-panels for developed markets.

We're listening in to the earnings call at the moment, and we'll let you know if there's any other details that come out of what is mostly boring numbers talk. So far it's all pretty businessy, although in response to a question executives did confirm that they expect the Galaxy S III and Galaxy Note to occupy different segments in terms of size. So there you have it -- the Galaxy S III will (shockingly) not have a 5.3-inch screen. Also, it predictably is trying to continue the trend of global launches, although that hardly puts to rest the issue of how long we may end up waiting for carrier-specific versions here in the US. Check out the rest of Samsung's details in a press release and a few slides from the report embedded after the break.

Continue reading Samsung's Q1 2012 profits nearly double year-over-year on higher margins for TVs and phones

Samsung's Q1 2012 profits nearly double year-over-year on higher margins for TVs and phones originally appeared on Engadget on Thu, 26 Apr 2012 20:20:00 EDT. Please see our terms for use of feeds.

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Tuesday, April 24, 2012

Virgin Mobile Canada launches signup page for upcoming HTC One S release

Virgin Mobile Canada

 

The HTC One S is "coming soon" to Virgin Mobile Canada, and in exchange for your email address, the carrier will notify you as soon as the device launches.  In addition to news as it happens, submitting your email address between now and May 17 will earn you a chance to win one of two S smartphones. As per contest rules, the retail value of the prize is set at Cdn $600, a possible hint at what Virgin will be charging.

Officially speaking, the carrier hasn’t gone official with a release date or pricing, though we’ll keep our ears tuned to the great white north for more information. Virgin Mobile’s signup page can be found at the source link.

Source: Virgin Mobile Canada; via mobilesyrup

 



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Sunday, April 22, 2012

Student loans: Is petition to forgive debt completely a good idea?

Students and parents will think so. But blanket amnesty for all student loans could destroy the student-loan system and might not do much to address the underlying problem.?

Large numbers tend to get people?s attention, especially the 13-digit kind. So now with news that student college debt is hitting the $1,000,000,000,000 mark, everyone seems to be talking about it.

Skip to next paragraph

President Obama wants to delay the interest-rate hike on government-backed student loans scheduled for this July and will say so in his Saturday radio address ? and then again when he hits college campuses next week to promote the plan. For their part, Department of Education officials stood up for the plan on Friday. And April 25, the Occupy movement is set to occupy colleges to highlight the issue.?

But an online petition that has gathered nearly 700,000 signatures has a better idea ? erase the debt completely, says creator Robert Applebaum.

?Forgiving the student loan debt of all Americans will have an immediate stimulative effect on our economy," he says in the petition. "With the stroke of the president's pen, millions of Americans would suddenly have hundreds, or in some cases, thousands of extra dollars in their pockets each and every month to spend on ailing sectors of the economy."

Forgiving student loan debt, he adds, ?rather than tax cuts for corporations, millionaires, and billionaires, has a much greater chance of helping to raise [the economic] tide in a much shorter time-frame.?

But while the idea has certainly gotten the ear of beleaguered grads ? and their families ? erasing a?trillion dollars of debt by presidential fiat could destroy the future of college loans while doing nothing to address the underlying problem, economists and financial experts say.

Regardless of whether the loan is a government or private loan, forgiveness will mean someone loses. Either the taxpayers in aggregate in the case of federal loans or private lenders on private loans

?Who in their right mind, A) would make loans to students if the loans can be forgiven later on? Or B) invest in an income trust vehicle where the asset of the investment can disappear due to 'forgiveness?' ??says?Kevin Worthley, a?certified financial planner in?Rhode Island and a specialist in college financial strategies,?via e-mail.?

Even if there were lenders willing to risk their money, ?the interest rate they would rightfully require for the risk incurred may likely be far more than future students would be willing to pay and cries of 'usury' to the government could result,? he adds.

Credit is?fundamentally based upon trust, agrees?Mitchell Weiss, adjunct professor at the University of Hartford's?Barney School of Business?in Connecticut.

?If I loan you some money, I trust that you?re going to pay it back to me,? he says. ?Wholesale forgiveness, amnesty ? whatever you want to call it ? will fundamentally undermine a process that is thoroughly integrated within our society.??

Moreover, it doesn't really solve the problem, says Professor Weiss.

?Students need better financial tools," says Weiss, the author of ?Life Happens,? a textbook for student financial planning. "But the laws need to be adjusted as well, Bankruptcy laws need to be amended."

A 2005 change in bankruptcy law means that "education loans are not dischargeable in bankruptcy except in cases of undue hardship.? This, he says, "is really tough to prove.?

Loosening the law would give lenders and ex-students more leeway to find compromises, he says.?

?When a lender knows that the person that?s sitting on the other side of the table has the ability to pull the plug by declaring bankruptcy, and ... that lender doesn?t have collateral to foreclose upon in order to make itself whole, then that lender is pretty motivated to find a compromise solution to avoid the loss that would surely follow,? he says.?

Will the petition make any difference?

Possibly, says Lindsay Hoffman, communication professor at the University of Delaware. Online social media has the ability to reverse the relationship between the government and the governed, she notes.

?Politicians used to set out what they thought was important and voters would respond,? she says, but ?what we are seeing here is a reversal of the agenda-setting process.?

Increasingly powerful social media tools such as this online petition have the power to ?set the agenda and politicians respond to those collective voices being raised.?

"That,? she says, ?is something new.?

Indeed, the political action group Moveon.org has picked up on the momentum behind Mr. Applebaum's original petition to funnel support to a bill now before Congress, the Student Loan Forgiveness Act of 2012, which would help students with loans ? though it is not a complete amnesty.?

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Thursday, April 19, 2012

Romney gets Daniels endorsement (The Arizona Republic)

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Vanessa Williams Reveals She Had Abortion in High School


When Vanessa Williams' book You Have No Idea is aptly titled.

The candid memoir, penned with her mother and available in stores now, reveals shocking secrets about the Desperate Housewives star's earlier years.

Probably the darkest one is that she was molested by an 18-year-old girl when she was just 10 years old, while they were on a family trip with friends.

"It was definitely a choice, because it didn't need to be [in the book]," Williams recalls. "It happened one night where she told me, 'come over here.'"

Vanessa Williams Photo

"I didn't know that it was wrong, but I knew it wasn't right because I wasn't supposed to tell anybody." Years later, her mother was stunned to find out.

"[I] had no idea that, that had happened," Helen Williams said. "But in retrospect, it put into place some of her reactions during her pre-teen years."

Another surprising admission? Vanessa Williams, now a mother of four, said she first got pregnant in high school, but she decided to have an abortion.

This was another secret she kept from her mother.

"Being pregnant is the most frightening thing that happens in your life," said the former Miss America of her decision to end the pregnancy. "I knew in high school that's something that I was not prepared to do, or fight, or struggle with."

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Wednesday, April 18, 2012

Despite Obama charm, Americas summit boosts U.S. isolation

CARTAGENA, Colombia (Reuters) - President Barack Obama sat patiently through diatribes, interruptions and even the occasional eye-ball roll at the weekend Summit of the Americas in an effort to win over Latin American leaders fed up with U.S. policies.

He failed.

The United States instead emerged from the summit in Colombia increasingly isolated as nearly 30 regional heads of state refused to sign a joint declaration in protest against the continued exclusion of communist-led Cuba from the event.

The rare show of unity highlights the steady decline of Washington's influence in a region that has become less dependent on U.S. trade and investment thanks economic growth rates that are the envy of the developed world and new opportunities with China.

It also signals a further weakening of the already strained hemispheric system of diplomacy, built around the Organization of American States (OAS) which has struggled to remain relevant during a time of rapid change for its members.

Seen as an instrument of U.S. policy in Latin America during the Cold War, the OAS has lost ground in a region that is no longer content with being the backyard of the United States.

"It seems the United States still wants to isolate us from the world, it thinks it can still manipulate Latin America, but that's ending," said Bolivian President Evo Morales, a fierce critic of U.S. policy in Latin America and staunch ally of Venezuela's leftist leader Hugo Chavez.

"What I think is that this is a rebellion of Latin American countries against the United States."

NEWFOUND UNITY

White House officials disagreed with the notion that the failure to agree on issues like Cuba signaled a new dynamic to U.S. relations within the hemisphere.

"We've had disagreements on those issues for decades," a senior Obama aide said. "They are built into the equation." Another official noted there was no signed statement at the 2009 summit, either.

In fairness to Obama, the lack of consensus had little to do with his conduct or even that of Secret Service agents whose indiscreet encounter with prostitutes in the beachside city of Cartagena, Colombia, overshadowed much of the proceedings.

He was in fact commended by several presidents for listening politely to political leaders, helping soften perception of U.S. officials as arrogant and domineering.

"I think it's the first time I've seen a president of the United States spend almost the entire summit sitting, listening to the all concerns of all countries," said Mexican President Felipe Calderon.

"This was a very valuable gesture by President Obama."

At a joint news conference with Colombian President Juan Manuel Santos, Obama emphasized that his administration had made some changes to its policy toward Cuba already and was open to more if it saw more signs of democratic reforms.

"I'm not somebody who brings to the table here a lot of baggage from the past, and I want to look at all these problems in a new and fresh way," he said.

But Obama's staid charm was unable to paper over growing differences with the region.

Facing a tough re-election race this year, Obama had no room to compromise on the five-decade-old U.S. embargo on Cuba that is widely supported by conservatives in the United States, and particularly the anti-Castro exile community in Florida, a key state in a presidential vote.

U.S. insistence that Havana undertake democratic reforms before returning to the hemispheric family led to a clash with a united front of leftist and conservative governments that see Washington's policy toward Cuba as a relic of the Cold War.

The unexpected result was a diplomatic victory for Havana.

The newfound regional unity on Cuba may augur a growing willingness across the political spectrum to challenge the U.S. State Department on thorny issues for years considered taboo.

That could include insistence that the United States assume greater responsibility for reducing consumption of illegal narcotics as an alternative to the bloody war on drugs and its rising toll on Latin America.

"From the so-called Washington consensus ... toward a nascent consensus without Washington for a united Latin America," tweeted Venezuela's foreign ministry, referring to orthodox economic policies advocated by Washington in the 1990s.

NEW DIPLOMACY, NEW ECONOMY

The stark divide over Cuba - with 32 nations in favor of inviting it to future summits and only the United States and Canada opposed - will fuel arguments that the OAS is an outdated institution for regional diplomacy.

The OAS already faces competition from alternative forums such as the Union of South American nations (Unasur) and the Chavez-backed Community of Latin American and Caribbean states (Celac).

Despite the new winds blowing in regional diplomacy, economics is driving the changes as much as politics.

Once seen as monolithic block of basket-case economies dependent on U.S. support, Latin American countries are coveted investment destinations with sophisticated financial systems that have innovated in areas ranging from energy to aviation.

Chinese companies eager to pump oil, harvest soy and build badly needed infrastructure are showering them with offers of investment and financing.

With the U.S. economy still struggling to stay above water and foreign aid budgets seen dwindling, Washington has fewer sticks to brandish and fewer carrots to offer.

"This summit was a reminder, a wake-up call, that the traditional way of doing business vis-a-vis the region is eroding," said Geoff Thale, program director at the Washington Office on Latin America.

(Additional reporting by Caren Bohan; Editing by Anthony Boadle, Jackie Frank and David Brunnstrom)

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Monday, April 16, 2012

Vatican and Oxford libraries scan ancient works, let scholars stay in their armchairs

Vatican and Oxford libraries scan ancient works, let scholars stay in their armchairs

Two of the world's most hallowed libraries are about to get even quieter, having been given $3 million to go with the flow and put some of their oldest collections online. The Vatican Library and Oxford University's Bodleian Library will together offer up 1.5 million pages of hoary text, including Gutenberg's Latin Bible from the 15th Century, a 1,200-year-old Hebrew codex called the "Sifra," and enough Greek philosophy to make even Homer seem succinct. At the end of a five-year flatbed scanner marathon, these digital copies will be accessible to speakers of dead languages everywhere, and hopefully for less than sacrilegious prices.

Vatican and Oxford libraries scan ancient works, let scholars stay in their armchairs originally appeared on Engadget on Mon, 16 Apr 2012 07:31:00 EDT. Please see our terms for use of feeds.

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How would you change Motorola's Xoom 2?

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Motorola's Xoom 2 is, undeniably a strong tablet. It was able to beat a Galaxy Tab 10.1 and a Transformer Prime in some of our performance tests, battery life is around nine hours and it's nearly running a pure version of Honeycomb. We're a big fan of that display, but less so its unnatural attraction to fingerprints. As we sit anxiously waiting for Ice Cream Sandwich to make its belated way onto the slate, we want to know: what do you think works, what did Motorola scrimp on and what would you change to make it a better device?

How would you change Motorola's Xoom 2? originally appeared on Engadget on Mon, 16 Apr 2012 01:15:00 EDT. Please see our terms for use of feeds.

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Sunday, April 15, 2012

Android Central in the Sudan

Lloyd

Oh, that Lloyd. Everybody's favorite Android Central mascot sure does get around. 

We've seen him in Kuwait. He sneaked into the iPad 2 launch. He crashed the BlackBerry PlayBook party. Invaded Minecraft. Plays beer pong. So, yeah. Dude gets around. And here he is in Khartoum, Sudan. Not quite sure what he's doing, but damned if he don't look good.

via @khalidhamdi



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Thursday, April 12, 2012

UN Council facing Syria 'moment of truth'

Growing demands for tough UN Security Council action on Syria are putting increasing pressure on Russia's diplomatic shield around President Bashar al-Assad.

After Assad brushed aside a Tuesday deadline to withdraw troops and guns from cities, the prospects for international pressure will depend on what UN-Arab League envoy Kofi Annan requests, and how far Syria has strained the patience of Russia, its main ally, diplomats say.

Annan is now insisting the Syrian leader make a "fundamental change" and keep a Thursday zero hour for a complete halt to hostilities. But the United States, France, Britain and Turkey say Assad has already failed and are demanding sanctions-style action.

Susan Rice, US ambassador to the UN, warned that the UN Security Council faces a looming "moment of truth" on Syria.

The "logical next step" would be to increase pressure through "collective action," she said.

France's Foreign Minister Alain Juppe said he wants "new measures" by the council after Thursday. Britain's Foreign Secretary William Hague said the Security Council should refer Assad to the International Criminal Court. Turkey, struggling with a wave of Syrian refugees, has also demanded action.

Russia and China vetoed two resolutions on Syria because they hinted at sanctions. They have however signed up to less weighty statements which backed Annan's six-point peace plan and his deadlines to Assad.

Annan has been praised for the way he has built up international unity behind his efforts. One step off the diplomatic tightrope could unleash new Security Council hostilities on Syria, diplomats said.

Rice said Russia and China have a special "responsibility to use the influence they have to end the killing of the Assad regime" -- more than 9,000 dead according to the UN.

For the moment, Annan is "off-limits" to Russian attacks, said one senior UN envoy. "But if he recommends sanctions, the Russians and Chinese could easily turn on him."

Russia's Foreign Minister Sergei Lavrov complained publicly on Tuesday to Syrian counterpart Walid Muallem that the regime should be more "decisive" in carrying out the Annan plan.

But he also said Annan should put more pressure on the Syrian opposition.

"At best there is uncertainty now about the Russian attitude," said another UN diplomat.

Some analysts say Annan's plan gave leeway to Assad because he had to weaken it to get Russian agreement.

"It was clear that the regime would use what wriggle room existed, and the Annan mission built consensus around a conceptual roadmap that provided plenty of it," said Peter Harling, the International Crisis Group think tank's Middle East specialist.

Annan's plan was "a non-starter" because it contained no talk of Syria's president stepping aside, said Murhaf Jouejati, a professor at the US National Defense University and a member of the opposition Syrian National Council.

Others say however that Annan has skillfully managed his showdown with Assad by keeping the support of Russia and China.

"In a very methodical and moderate way he has revealed the extent of the Assad regime's duplicity," said Richard Gowan, of the New York University (NYU) Center on International Cooperation, who closely follows Security Council affairs.

"The hope was that because Annan put forward a fairly moderate plan that Russia would really put pressure on Syria to accept it," he said.

"Either Russia does not have the influence or it did not put full pressure on to get Assad to

comply. Either way it looks pretty bad for Moscow."

Jouejati predicted that neither Russia nor China would now veto any resolution on economic sanctions against Assad, though nothing military.

But Gowan said it was over-optimistic to think that they would be "shamed" into allowing sanctions.

"Russia's efforts to persuade Syria have been genuine but when it comes to the Security Council, they will continue to block any serious action by the council," he said.

US envoy Rice said however that deadlock risks pushing Syria "into full-scale civil war -- with all of the consequences that that entails for the people of Syria, for neighboring countries, and the wider international community."

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Wednesday, April 11, 2012

PFT: Bengals bolster secondary with Newman

nfl_g_lbriggs1_300Getty Images

Linebacker Lance Briggs wasn?t happy with his prior contract.? He now has a new contract.? Presumably, he?s happy with his new contract.

In light of the veteran linebacker market, he should be.

Per a league source, Briggs? new deal pays $17.5 million over three years, $5 million of which is fully guaranteed.? (As a practical matter, another $3.25 million is guaranteed, given that it?s highly unlikely the Bears will cut him this year.)

In 2012, Briggs gets $3 million to sign, a $3 million base salary, and a $250,000 workout bonus.? That gives him $6.25 million; under his prior deal he would have earned $4 million.

Next year, Briggs is due to receive a $1 million roster bonus in June and a $4.5 million base salary, $2 million of which is fully guaranteed.? He also is eligible for a $250,000 workout bonus.? It?s a payout of $5.75 million.? Under the prior deal, he would have earned $6.5 million in non-guaranteed base salary.

In 2014, Briggs is due to receive a $500,000 roster bonus in June and a non-guaranteed base salary of $4.75 million.? He also is eligible to receive a $25,000 workout bonus.

Though the deal doesn?t carry much ?new? money over the next two seasons, the $8.25 million in guarantees will go a long way toward alleviating the concerns of a thirtysomething linebacker who is navigating a new regime.? Even if the Bears had paid Briggs $4 million in 2012 without squeezing him to take less, the chances of Briggs getting cut in 2013 would have gone up significantly ? and then he would have found himself dealing with a linebacker market that is almost as soft as the running back market.

So it?s a win-win for the Bears and Briggs, and it shows that new G.M. Phil Emery is willing to take care of the guys who have been with the team.

The only remaining question is when and if Emery will take care of running back Matt Forte in the way Forte wants to be taken care of.

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Monday, April 9, 2012

Pro Football Focus zeroes in on Pats tight end Aaron Hernandez as the ?new NFL athlete.?

untitled2.bmpMeet Aaron Hernandez, super athlete.

That?s how Pro Football Focus referred to the Patriots tight end in one of the in-depth profiles last week. The website had an interesting piece talking about the Planet Theory, which was first coined by New York Giants executive George Young. Basically, Young theorized there are only so many special athletes roaming the planet, so when you have the chance to get one, you do it, even if you?re not quite sure how you?re going to use him.?

That?s what the Patriots have in Hernandez. He?s?that guy, their super athlete, as PFF contends, and they?ve found ways to utilize him?to the max.

And adding to the pot, the Pats have become ?masters? at having teams believe certain players like Hernandez are one thing, then use them as something else. Remember Hernandez as a running back lined up in the backfield, taking handoffs from Tom Brady? The way the Pats employ Danny Woodhead is also brought up in the post.

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Monday, April 2, 2012

Internet Marketing Tips: [FREE TRAINING] 1Hr Of Affiliate Marketing ...

Whichever business model you look into, whether it's product creation, list building, affiliate marketing or CPA marketing, there's always a similar pattern involved.

It always requires you to know your keywords, to grab a domain closely related to that keyword and host a site on it. The site itself could be your
own product or a product you're trying to promote.

Logically the next step is all about getting traffic - this is where most struggle.

So today I want to show you an 8-part plan to getting everything setup from start to finish so you're not missing out on any piece of the puzzle.

=> http://tinyurl.com/7k5zbb2

In this 1? hour training session you're going to learn...

Video #1 - How To Research Keywords
Video #2 - How To Buy A Domain Name
Video #3 - How To Get Web Hosting
Video #4 - How To Upload A Website
Video #5 - What Is Affiliate Marketing?
Video #6 - What Are CPA Networks?
Video #7 - How To Promote Your Site - Part 1
Video #8 - How To Promote Your Site - Part 2

There are courses out there teaching you the same technique with a hefty price tag!

This however is completely free with no charge because I believe this training should be made as standard.

=> http://tinyurl.com/7k5zbb2

Thanks,
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Sunday, April 1, 2012

China rejects Obama's Iran oil import sanctions

FILE - In this March 26, 2012 file photo, President Barack Obama speaks in Seoul, South Korea. The president is moving ahead with tough new sanctions aimed at squeezing Iran's oil exports after determining there is enough crude on world markets to take the step without harming U.S. allies, The Associated Press has learned. (AP Photo/Susan Walsh, File)

FILE - In this March 26, 2012 file photo, President Barack Obama speaks in Seoul, South Korea. The president is moving ahead with tough new sanctions aimed at squeezing Iran's oil exports after determining there is enough crude on world markets to take the step without harming U.S. allies, The Associated Press has learned. (AP Photo/Susan Walsh, File)

(AP) ? China rejected President Barack Obama's decision to move forward with plans for sanctions on countries buying oil from Iran, saying Saturday that Washington had no right to unilaterally punish other nations.

South Korean officials said they will continue working with the U.S. to reduce oil imports from Iran, as other U.S. allies who depend on Iranian oil worked to find alternative energy supplies.

Obama announced Friday that he is plowing ahead with the potential sanctions, which could affect U.S. allies in Asia and Europe, as part of a deepening campaign to starve Iran of money for its disputed nuclear program. The U.S. and allies believe that Iran is pursuing a nuclear bomb; Iran denies that.

China is one of the biggest importers of Iranian oil, and its Foreign Ministry reiterated its opposition to the U.S. moves.

"The Chinese side always opposes one country unilaterally imposing sanctions against another according to domestic law. Furthermore it does not accept the unilateral imposition of those sanctions on a third country," the ministry said in a brief statement Saturday.

Beyond the rhetoric, Beijing has taken a two-pronged approach to the U.S. demands, insisting that China has the right to import oil from Iran or any other country while quietly reducing imports of Iranian oil. Though the government has not explained the reductions, oil traders and industry executives have said it may stem more from a pricing dispute with Iran than as a response to U.S. pressure.

Behind the scenes, Washington has repeatedly encouraged Beijing to seek supplies elsewhere, and Saudi Arabia offered to fill a shortfall when Chinese Premier Wen Jiabao visited Gulf countries early this year.

The looming U.S. sanctions aim to further isolate Iran's central bank, which processes nearly all of the Iran's oil purchases, from the global economy. Obama's move clears the way for the U.S. to penalize foreign financial institutions that do oil business with Iran by barring them from having a U.S.-based affiliate or doing business here.

Obama's goal is to tighten the pressure on Iran, not allies, and already the administration has exempted 10 European Union countries and Japan from the threat of sanctions because they cut their oil purchases from Iran. Other nations have about three months to significantly reduce such imports before sanctions would kick in.

The main importers of Iranian oil that have not received exemptions from the U.S. are China, India, Turkey, South Africa and South Korea. The administration would be loath to hit a close friend like South Korea or India, or a NATO ally like Turkey, with sanctions, and is working with those countries to reduce their imports.

Foreign Ministry officials in South Korea said Saturday that they expect to reach an agreement with Washington by late June on reducing oil imports from Iran. The officials declined to be named because discussions were still under way.

The U.S. sanctions are set to take effect on June 28. A European oil embargo, approved in January, starts in July. Put together, Obama administration officials contend Iran is about to face its most severe economic pressure ever.

The United States imports no oil from Iran.

Energy-starved India, which relies on Iranian oil for 12 percent for its power needs, has said that it does not heed unilateral sanctions such as those imposed by the U.S. and EU.

Nevertheless, New Delhi has not remained completely immune to sanction pressures and is slowly easing its dependence on Iranian oil, with a slow decline in Iranian oil imports. The Western sanctions also have made it harder for Indian companies to pay for Iranian oil, with international banks unwilling to handle transactions from Tehran.

In February, India irked the West by arranging to make 45 percent of its yearly $11 billion oil payments to Iran in Indian rupees, with the rest paid in a barter system as Tehran seeks Indian-made machinery, iron and steel, minerals and automobiles.

Turkey announced Friday it was shrinking oil imports from Iran by 20 percent, apparently bowing to pressure from the United States and the sanctions threat.

Associated Press

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