Friday, June 19, 1998
Days of "Great Satan" may be over, US to build bridges with Iran
The corrosive animosity between a country which accused the other of being the womb of international terrorism and was in turn denounced as the Great Satan may soon be ending. The United States on Wednesday made its first significant overture to Iran 20 years after its support to the despotic Shah engendered Ayatollah Khameini's 1979 Islamic revolution that changed the geopolitics of the region.
India can produce over 400 N-arms, says Jane's
India's potential nuclear arsenal is bigger than Britain's and in the same league as the French and Chinese, Jane's Intelligence Review has reported. Pakistan, however, exhausted a significant part of its meagre arsenal in last month's nuclear tests and the poor performance of its weapons revealed the country's strategic nuclear weakness, the respected military magazine said.
US plays knight in shining armour to a distressed yen
The United States rode to the rescue of the battered Japanese yen on Wednesday in a dramatic shift from its recent hands-off approach. Joining forces with Japan's central bank, the treasury department instructed the New York Federal Reserve to spend an estimated $2 billion to boost the value of the yen against the dollar -- the first US intervention on behalf of the yen in more than six years.
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