LIBYA

In spite of the crippling sanctions and an arms embargo approved by the international community, Libyan leader Muammar Gaddafi continued to show resistance and the possible reason for such confidence could 144 tons of gold that he still controls.

Libya’s rebel forces have formed an interim government, even as Moammar Gaddafi’s troops continue their assaults against them, according to a report from Al Jazeera.

As many as six people were killed by Syrian forces in a mosque in the city of Deraa, a flash point in the unfolding struggle against the Baath party despotism, media reports said on Wednesday.

Chinese oil demand rose more than 10 percent year-on-year in February to reach the second strongest demand level on record, as refineries scampered to pile up supplies in view of the upcoming peak demand season and adverse weather conditions.

Despite military air strikes by western powers against his strategic targets, Libyan leader, Col Moammar Gaddafi, appeared on state television at a site in Tripoli which was recently demolished, and vowed he would emerge triumphant in this bloody battle

Prime Minister Vladimir Putin has shrugged off reports that he and President Dmitry Medvedev are split over Russian policy in Libya.

There is a clear sense of calm returning to the financial markets after the horrific earthquake in Japan and the leveling of the playing field in Libya. Though the damage associated with Japan’s earthquake is clearly immense, its economic impact will mostly be localized.

Days into foreign military assaults on Libya, the Arab League has maintained support of a U.N. resolution authorizing the establishment of a no-fly zone over the country.

US stocks edge down as turmoil in the Middle East continues to rage on.

One of Moammar Gaddafi’s sons has reportedly been killed by a “kamikaze” Libyan air force pilot. Khamis Gaddafi, 32, a brigade commander, was reportedly blown up when a jet flown by a rebel airman crashed into a military compound in Tripoli Tuesday night.

US stock slipped on the continued unrest in the Middle East and escalating tensions in Yemen.

Currently, crude oil prices are trading around $105 per barrel. Eugen Weinberg of Commerzbank estimates that $20 to $25 of it reflect fears of unrest in the Middle East.

Despite bombardments on Libyan military by western and other foreign military aircraft, fighting on the ground between forces loyal to and against Moammar Gaddafi continue unabated.

Americans who are opposed to the U.S. participating in air strikes against Libya have held small (and thus far peaceful) demonstrations across the country, although there doesn’t appear to be a large national movement against the action yet.

The military strikes in Libya is costing the British taxpayer about £3 million a day, according to UK defense experts.

The president of Uganda, Yoweri Museveni, has written a lengthy a column in The New Vision newspaper of Uganda in which he condemned the western alliance’s military strikes on Libya. He also proposes a resolution to the Libyan crisis through the auspices of the African Union.

A U.S. Air Force Strike Eagle F-15E jet crashed near the eastern city of Benghazi in Libya late Monday as part of a mission to protect civilians from forces led by Col. Muammar Gaddafi, United States Africa Command said on Tuesday.

Some prominent African leaders have expressed their condemnation of western air strikes on Libya.

U.S. and its allies continue to work towards enforcing a no-fly zone over Libya.

Gold prices rose for a fifth straight day on Tuesday, driven by safe haven demand amid continued uncertainty in the Middle East and the nuclear crisis in Japan.

CNN ripped apart rival news channel Fox News for airing a story that said foreign journalists were used by Libyan authorities as human shields. CNN correspondent Nic Robertson said the report was outrageous and hypocritical and that he did not expect journalists to lie. I expect lies from the government here. I don't expect it from other journalists. It's frankly incredibly disappointing, he said.