1.) Korea MAY post ANOTHER trade deficit in February followed by one in January... as the nation's imports continue to grow at a faster pace than exports.
According to the Korea Customs Service on Wednesday, Asia's fourth largest economy posted a trade loss of around 1-point-5 billion U.S. dollars for the first ten days of this month.
Korea's outbound shipment was valued at 15-point-3 billion dollars..., while inbound shipment stood at 16-point-8 billion dollars.
Korea posted its first trade deficit in TWO years in January,... as the persistent eurozone debt crisis and weakening overseas demand for Korean ships and mobile communications equipment slowed the country's exports.
2.) The United States has suggested... that North Korea suspend its uranium enrichment facilities under the monitoring of the International Atomic Energy Agency... saying it is a prerequisite for the resumption of the six-party nuclear talks.
A diplomatic source in Washington said Wednesday... that the U.S. proposed a so-called "monitored shutdown" of the North's uranium enrichment program by the U.N. nuclear watchdog... which is one of the initial steps toward denuclearization.
It added that the issue is expected to be one of the major agenda items in high-level talks between the two nations... slated to be held in Beijing next Thursday.
3.) Iran announced the country's latest nuclear achievements Wednesday,... despite Western penalties and UN sanctions... while it also announced it would be CUTTING oil exports to six European countries.
The official IRNA news agency reported Wednesday,...that President Mahmoud Ahmadinejad inserted the first Iranian-made rod into the reactor in northern Tehran,...and a "new generation of Iranian centrifuges" had gone into operation... which state television said have more output... and enrich uranium faster than older centrifuges.
The development came... as the official Press TV said the country would stop exporting oil to six European countries... the Netherlands, Spain, Italy, France, Greece and Portugal... in retaliation for new European Union sanctions.
The Iran's Oil Ministry however, refuted such claims,... saying if such a decision is made,... it will be announced by Iran's Supreme National Security Council.
4.) Greek officials on Wednesday... scrambled to reassure eurozone ministers that the Mediterranean country is serious about implementing a 3.3 billion euro austerity program.... in order to receive its second bailout.
But talks took a twist... when Greek finance minister Evangelos Veni-zelos accused EU officials of deliberately engineering a plot to kick Greece out of the eurozone.
Citing constantly shifting terms of the 130 billion euro bailout... the minister said many in the eurozone "didn't want Greece anymore".
Leaders of both main political parties signed pledges... that the government would remain committed to bailout terms... even after April's parliamentary elections.
But critics worry over Greece's history of missing deadlines and obligations.
5.) The UN General Assembly is scheduled to meet Thursday... to vote on a resolution condemning the continuing violence by the Syrian regime.
The UN announced on Wednesday,... that the assembly may vote on the draft,... which contains text similar to the resolution... that was vetoed by Russia and China... at a UN Security Council meeting earlier this month.
The General Assembly can issue condemnatory resolutions but are nonbinding,...as sanctions can only be imposed by the Security Council.
Meanwhile,...Russian Foreign Minister Sergei Lavrov... announced at a joint press conference in the Hague...that his country may support a UN resolution on Syria,...if a new resolution was aimed at ending violence.