Tony Blair calls for elections
London: British Prime Minister Tony Blair has called for a national election on May 5, setting the stage for a referendum on Britain's participation in the Iraq war.

Blair helped catapult Labour to power in 1997 and win a second landslide election victory in 2001. But the invasion of Iraq and the government's use of intelligence on Iraqi weapons of mass destruction, which turned out to be wrong, have severely dented his credibility.

However, his personal ratings have improved markedly from last year's slump and the successful elections in Iraq have provided some vindication for the war. The government's position is strengthened by a strong economy and also the fact that the Conservatives, who backed the war, have failed to land significant punches on Blair over the conflict.

Labour has a massive majority in the 659-seat House of Commons, with 410 members of parliament - 161 more than all the other parties combined. Domestic issues such as healthcare, education, crime and immigration are likely to dominate the four-week election campaign.
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Greenspan: Energy markets under 'strain'
Washington DC: The Federal Reserve Chairman Alan Greenspan has said that high oil and natural gas prices have put energy markets under a degree of strain that hasn't been seen in a generation.

The head of the U.S. central bank also urged policy-makers to be careful in any responses that they might make. Greenspan, in prepared remarks to an energy conference, warned that policy-makers should avoid any action that would "distort or stifle the meaningful functioning of our markets."

Greenspan spoke via satellite to the National Petrochemical and Refiners Association meeting in San Antonio, Texas. Greenspan urged that market forces be allowed to take care of the problem.

He said that the higher energy prices will not only stimulate new exploration but also research and development "that will unlock new approaches to energy production and use that we can now only scarcely envision."
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Pak and China launch joint production of JF-17 fighter aircraft
New Delhi: Pakistan on Tuesday launched the joint production of JF-17 fighter aircraft with China. The JF-17 has been developed by China.

The announcement by President Pervez Musharraf coincides with the visit by Chinese Premier Wen Jiabao to Pakistan and just days before Wen arrives in India. The two countries had initiated the JF-17 project several years ago when both the countries struggled to acquire fourth generation aircraft after the US blocked the sale of F-16s to Pakistan.

The two countries have also signed a deal for the construction of four F-22P frigates for Pakistan Navy.
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