The price of oil hit a record US$63 a barrel in New York on

The price of oil hit a record US$63 a barrel in New York on
Monday -- pushed up by fears about security in the Middle East --
before falling back slightly. New York's main contract, light
sweet crude for delivery in September, was up $1.14 to $63.45 at
9:20 p.m. Jakarta time, 20 minutes after the market opened. It
had earlier spiked to a record $63.60, beating its earlier peak
of $63 from a few minutes before. The U.S. Embassy in Saudi
Arabia said Sunday that its premises in Riyadh, as well as two
consulates, would be shut for two days in response to an
unspecified threat. The gains in oil are "tied to a 'heightened
state of alert,' as opposed to an actual supply shortage," said
Tim Evans, a senior analyst at IFR Markets. -- AFP

China mine accidents
kill up to 116 (2x15)

Two coal mine accidents kill up to 116 in southern China =

A gas explosion at a mine in southern China on Monday killed
14 persons, raising to 116 the death toll from two separate
accidents in the coal industry. Rescue workers said on Monday
they have given up hope of finding survivors the day after a
flood trapped 102 coal miners in the south China province of
Guangdong. The water level rose 50 centimeters per hour after 15
to 20 million cubic meters of water flowed into the mine,
trapping the miners at a depth of 420 meters on Sunday afternoon
in the privately operated Daxing pit near the city of Meizhou.
Survival chances for the trapped men were "very slim" the Chinese
news agency Xinhua quoted Meizhou Deputy Mayor Cai Xiaoju as
saying. More than 600 rescuers have been trying to pump out the
water. -- DPA

Floods recede in
western India (2x15)

Floods recede in western Indian state after more than 1,000 die

Flood waters in the western Indian state of Maharashtra including
India's commercial capital Mumbai have receded, allowing life to
slowly return to normal, state officials said on Monday. A week-
long drenching across the state caused rivers to burst their
banks and dammed water to overflow and pour into residential
areas, killing more than 1,000 people. "After more than a week of
flooding, life is limping (back) to normal in the worst-hit areas
in western and interior Maharashtra," said state police chief P.S
Pasricha. Pasricha said 1,071 people had died in the rains across
the state. A record 37.1 inches or 94.4 centimeters of rain
poured down in a 24-hour period in Mumbai between July 26 and 27.
-- AFP

Israeli Cabinet
approves withdrawal (2x15)

Netanyahu resigns as Cabinet approves first stage of Gaza pullout

Israel's Security Cabinet on Monday considered far-reaching
new arrangements for Gaza's international border crossing,
including the deployment of foreign inspectors, after Israel
pulls out of Gaza in the coming weeks. An Israeli agreement to
allow foreigners to replace Israeli inspectors at the Egypt-Gaza
crossing at Rafah would be a major concession and give Gaza's
Palestinians relatively unfettered access to the world for the
first time in decades. The deployment of foreign inspectors is
supported by international envoy James Wolfensohn, who has been
trying to broker an agreement between the two sides on border
crossings. Wolfensohn has urged Israel to make a decision on
border arrangements before the withdrawal starts next week. He
has said the withdrawal will only be a success if fenced-in
Gazans can move freely -- a prerequisite for reviving their
battered economy. -- AP

Some 10,000 miners
to join strike

About 10,000 more miners set to join first gold mining strike in

Union leaders said on Monday that 10,000 miners from a second
union would join the first strike since 1987 against South
Africa's gold mines. About 80,000 National Union of Mineworkers
members walked off their jobs on Sunday in a wage dispute.
Solidarity trade union members joined them on Monday after their
leaders said they, too, would reject the latest wage offers. The
Chamber of Mines, which represents employers, estimated the
strike would cost the industry 150 million rands (US$23.2
million) a day. The chamber is offering pay hikes of 4.5 percent
and 5 percent, depending on the position. The unions argue this
is less than the increase in cost of living, which they put at
5.7 percent. The NUM is demanding increases of between 7 percent
and 8 percent, down from earlier demands of 10 percent to 12
percent, and other benefits. -- AP