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"On Dec. 17, a mob of nearly 1,000 Muslims attacked a church building under construction in Bekasi Regency, near Jakarta, the capital city of Indonesia, according to VOM Canada. At midnight, Muslims arrived on bikes and on foot at the Church of Saint Albert. They stormed into the building, carrying banners and tanks of kerosene. One witness reported hearing them shout, "Destroy! Destroy it! Replace the church with mosque!" Muslims damaged bricks, broke lights, uprooted newly planted trees and set the building on fire. Praise God, no one was injured in the attack, but damage amounted to about 60 million rupees (approximately $6,235). Local Christians were planning to use the nearly completed building for a Christmas service. Following the attack, a leader of the church's construction committee said, "Even though our chapel was attacked, we are not afraid. We will continue the construction of this chapel until its completion." The Voice of the Martyrs actively supports persecuted believers in Indonesia by providing resources for churches and pastors and helping displaced believers rebuild their lives. VOM encourages you to pray that these believers will not be discouraged but will continue to rest in the joy and provision of Christ. Pray that Indonesian Christians will be emboldened by the Holy Spirit to share the truth of the Lord. "

"JERUSALEM - Israel has approved construction of four new apartment buildings in disputed east Jerusalem, officials said Tuesday, fueling tensions with the Palestinians at a time when the U.S. is laboring to get peace talks moving again. The Palestinians claim east Jerusalem for a future capital and demand all construction there stop before negotiations resume. The 24-unit project is being developed in an Arab neighborhood by Irving Moskowitz, an American Jew who has generously funded Jewish settlers determined to cement Israel's hold on contested areas of the holy city. The latest project is potentially even more contentious than others because it is not in any of the established Jewish neighborhoods. Instead, it is located in the heart of a predominantly Arab area of the city. Jerusalem is the most explosive issue between Israel and the Palestinians, and the new buildings would be located in one of its most volatile sites, just outside the walled Old City with its Christian, Muslim and Jewish shrines."

Federal regulators seized Charter Bank in New Mexico this week as its capitalization fell below requirements, making it the latest of scores of banks to have failed in the economic crisis. However, the Albuquerque Journal reports that Charter faced a very low default rate on residential loans and no commercial failures, either - until the Office of Thrift Supervision, its regulator, demanded that Charter increase its declared risk fivefold (hat tip HA reader Super5): Federal authorities on Friday closed Charter Bank, a closely held, family-run financial institution known for its financing of low-income housing in New Mexico and for the philanthropy of its owners. … Last fall, Office of Thrift Supervision examiners, responding to the national collapse of real estate development, ordered Charter to increase its allowance for loan losses from $10.8 million to $55.4 million, even though Charter had no delinquent commercial construction loans and only [0].34 percent of the loans in its commercial real estate portfolio were behind on their payments. That order reduced the level of capital Charter had on its books. Last Wednesday, OTS ordered Charter to find new capital as a buffer against insolvency or face closure. Charter had hoped to find a buyer, but none appeared. The owners' stake in the company was wiped out by the forced closure. How involved were they in low-income lending? The head of New Mexico's MFA makes it clear: Charter became a major real estate lender and was especially active in underwriting and servicing mortgages for low-income housing. It worked closely with the Mortgage Finance Authority, which was established by the State Legislature to help finance low-income housing construction. According to MFA executive director Jay Czar, Charter services about 95 percent of the mortgages issued through the agency. "They are just class bankers," Czar said. "These are guys who quite frankly really look out for the s

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"The Burj Dubai tower officially opened yesterday, six years after construction began on the $4.1 billion, half-mile-high skyscraper. Conceived as a monument to the Arab city-state's economic ambitions, the Burj today looks more like a modern-day Tower of Babel. Dubai has been wracked by a debt crisis, and the building stands mostly empty and unwanted by the international tenants for whom it was supposedly built. But then, the main argument for these monuments has never been purely economic. In early 20th-century New York, one tycoon after another vied to build the world's tallest building, adding their marks to Manhattan's iconic skyline. Both General Motors and Chrysler in their day saw fit to build testaments to their economic might in the form of tall towers. Later on, the gods of vanity shifted to the Far East, where Malaysia's Petronas Towers and more recently Taiwan's Taipei 101 vied to be the world's tallest. Today a half-dozen Asian skyscrapers put Chicago's Sears Tower (now the Willis Tower) in the shade. As for Dubai, the Burj is merely the most recent bauble in a quest for excess that includes the world's largest man-made islands, indoor shopping mall and indoor ski resort. It even boasts the world's heaviest gold ring, weighing in at something like 62 kilos. The economic theory behind all this, we suppose, is that being the land of superlatives confers a comparative advantage to a place of otherwise few charms and little human capital-though we do wonder who proposes to wear that ring. If the past century has taught us anything, it's that there will always be another, bigger building built somewhere, and Dubai cannot hope to keep up indefinitely. By contrast, in cities such as Houston and Hong Kong the skylines are not the cause of their economic prosperity, but merely one visible manifestation of it. That's a prosperity that has been built over the years on the basis of those old reliables: economic freedom, the rule of law, hard work and sound ma

"Republicans scoff at the "Jobs for Main Street Act" title that House Democrats put on their $174 billion package last month. They refer to it as "son of the stimulus," the $787 billion economic recovery plan of nearly a year ago that they say was ineffective at producing jobs. In its last vote of 2009, the House narrowly passed the bill, 217-212, without a single Republican supporter. Democrats tick off the job prospects from the House bill's $75 billion in infrastructure and public sector spending: tens of thousands of new construction jobs, 5,500 more police officers, 25,000 additional AmeriCorps members, 250,000 summer jobs for disadvantaged youth, 14,000 part-time jobs for parks and forestry workers. "Why don't we just put everyone in the United States on the federal government payroll and call it a day?" said Rep. Jerry Lewis, California Republican. (emphasis added)"

"A powerful earthquake shook Haiti on Tuesday, leveling buildings in the capital, Port-au-Prince, and sending panicked residents into the streets, as beleaguered authorities braced for major casualties. The quake, which had a preliminary magnitude of 7.0, occurred about 4:45 p.m. and was centered about 10 miles west of the capital. The U.S. Geological Survey said it was the largest temblor ever recorded in Haiti, and witnesses reported a series of strong aftershocks. "People are out in the streets, crying, screaming, shouting," said Karel Zelenka, director of the Catholic Relief Services office in Haiti. "They see the extent of the damage," he said, but could do little to rescue people trapped under rubble because night had fallen. "There are a lot of collapsed buildings," Zelenka said in a telephone interview from Port-au-Prince. "This will be a major, major disaster." He reported that poorly constructed shantytowns and other buildings had crumbled in huge clouds of dust. Near the CRS headquarters, a supermarket was "completely razed," he said, and a gasoline station and a church were reduced to rubble. Among the worst-hit areas was the impoverished Carrefour section of Port-au-Prince near the sea. "

"Steve Perry, executive vice president of Visa Europe, has a different take on the folding stuff packed in our wallets that most of us take for granted. "Cash is expensive," he says. "We need to be using it less." Expensive? Vintage wines, maybe. Designer clothes, yes. Modern art, almost certainly. But cash? "Why do you think supermarkets introduced cashback?" Perry asks rhetorically. He has me stumped there. I tell him I always thought of it as a service for overdrawn students to drive a few more sales through the tills. "No," he responds politely. "It's because they want cash out of the system so there is less to manage. Processing a transaction on a card can be cheaper than handling cash." Perry is a leading cheerleader for the cashless society. It's hardly a surprising role, but its an argument he is finding increasingly easy to make. Last month, for example, the Payments Council announced to anguished outrage that in 2018 the cheque would be dead. "There are many more efficient ways of making payments than by paper in the 21st century, and the time is ripe for the economy as a whole to reap the benefits of its replacement," Paul Smee, chief executive of the Payments Council, said. Perry extends the same argument to cash. Notes and coins are never going to be fully replaced, he accepts. Currency has, after all, been around in some form or another since 3,000BC. But now that we're in the electronic age, payments could do with a little catching up, he reckons. Visa has recently published an extensive report on the cost of cash to society. Citing numerous independent papers by consultants and national governments, the payments company constructs a compelling case. "

"The snow is expected to start falling during the late afternoon in the South East and get very heavy by the evening. With Arctic temperatures affecting the whole of the country the National Grid was forced to issue an alert for just the SECOND time in history. The National Grid warned power suppliers to use less gas after seeing a 30 per cent rise on normal seasonal demand during the cold snap. But Prime Minister Gordon Brown today denied the country was facing a gas supply crisis. During a visit to the London Gateway port construction site, near Thurrock, Essex, the PM said: "I think Britain can deal with these problems. "There are always difficulties when we have a long spell of bad weather. But we can cope." "

"Palestinian President Mahmoud Abbas has proposed that the Obama administration negotiate the final borders of a Palestinian state with Israel, a Palestinian official said Wednesday, as a U.S. envoy headed to the region for another attempt to restart Mideast peace talks. Such a proxy arrangement could provide a way around the current deadlock over reviving Israeli-Palestinian talks, which broke off more than a year ago. Abbas says he won't return to the table without a complete Israeli settlement freeze, something Israeli Prime Minister Benjamin Netanyahu has refused to do. As an alternative, U.S. officials could replace Palestinian negotiators in border talks with Israel, said an Abbas aide, who spoke on condition of anonymity because he was not authorized to discuss the content of internal meetings. The U.S. negotiators would be given clear parameters, the aide said. Advertisement The state would have to be established in the territories Israel captured in the 1967 Mideast War - the West Bank, Gaza and east Jerusalem - but the Palestinians would agree to swap up to 3 percent of the territory to accommodate some Israeli settlements, the aide said. Abbas made the proposal in recent meetings with Egyptian officials who passed the idea along to Washington, the aide said. It was not clear how the Americans reacted. Officials at the U.S. Consulate in Jerusalem, which serves the West Bank, had no comment. Abbas has said much ground has been covered in his talks with Netanyahu's predecessor, Ehud Olmert, and that the time has come for decisions. In those talks, Abbas offered a swap of up to 1.9 percent of West Bank land for Israeli territory, while Olmert proposed 6.5 percent. Alternately, Abbas could resume negotiations with Netanyahu, provided the Israeli leader agrees to a six-month settlement freeze in the West Bank and east Jerusalem. Netanyahu would not have to announce the freeze, the aide said, presumably to avoid a rebellion in his hardline coalition. The

"Palestinian President Mahmoud Abbas declared on Thursday that Palestinians would not accept any alternative to Jerusalem as the capital of a future state, despite other proposals. Abbas told Russian television that Jerusalem should not be divided and that there should be free passage for people of various faiths. The Palestinian leader added it must be made clear what belongs to the Palestinians and what belongs to Israel. A Advertisement bbas said that he could only recognize Israel as a Jewish state in the framework of a conclusive peace agreement that leads to the establishment of a Palestinian state. Abbas also said that he could not agree to resume the stalled peace negotiations with Israel as long as construction in West Bank settlements and East Jerusalem continue. The peace process would collapse after the first meeting of such negotiations, said Abbas. "If Israel says in the meeting that it will not accept the 1967 borders and that it is not prepared to discuss Jerusalem and the refugee situation, what is there to talk about?" Abbas said in the interview. "If I enter negotiations with them and the building in East Jerusalem continues, Israel will be saying that Jerusalem is theirs. So why would I agree to negotiate while building in East Jerusalem continues?" "