Iran successfully fires satellite rocket: reports

TEHRAN:  Iran successfully fired on Wednesday a home-built satellite rocket, Kavoshgar 3, carrying an "experimental capsule," state-owned al-Alam television reported, giving no further details.

The move, a part of celebrations marking the 31st anniversary of the founding of the Islamic revolution, may worry Western powers who fear Tehran is seeking to build a nuclear bomb and missile delivery systems.

Western nations are concerned that the long-range ballistic technology used to put satellites into orbit can also be used to launch warheads, although Iran says it has no plans to do so.

TV reports showed footage of a rocket blasting off from a launch-pad.

Iranian media said earlier the Islamic Republic would on Wednesday unveil three new satellites and another satellite carrier, named Simorgh.

Exactly one year ago, Iran launched a domestically made satellite into orbit for the first time. It has said the launch of the Omid satellite was for peaceful telecommunications and research purposes.

Iran, the world's fifth-largest oil exporter, says its nuclear program is solely to generate electricity, and Ahmadinejad said on Tuesday Iran was ready to send its enriched uranium abroad in exchange for nuclear fuel.

In December, Iran said it test-fired a long-range, upgraded Sejil 2 missile. British Prime Minister Gordon Brown at the time said the launch was of serious concern to the international community and underlined the case for tougher sanctions.

3 US soldiers among 9 killed

PAKISTAN: Nine persons including 3 foreigners were killed and 65 others wounded in a bomb blast in tehsil Balambat of lower Dir.

The blast occurred in the roadside bombing in Koto village, about 10 kilometers (six miles) from Taimargara, the main town in lower Dir district. The explosion also damaged the girls’ school building.

According to US news agency, three US soldiers attached with the Frontier Corps (FC) as trainer were killed in the blast. Three girls students, a security man and two civilians were also killed in the blast. Sixty-five persons including 40 girls’ students sustained injuries in the incident. The bodies and injured were shifted to district headquarters hospital Timargara. Security forces have cordoned off the area.

Obama's budget proposal draws rapid fire from legislators

WASHINGTON: President Obama's proposed $3.8 trillion budget ran into immediate trouble in Congress on Monday among lawmakers who said it tries to do too much while cutting the deficit too little.

The quick response came as Obama sought to juggle his twin goals of creating jobs, which entails tax cuts and new spending, and cutting the deficit, which involves the opposite.

Republicans who spent the past year criticizing Obama's $862 billion economic stimulus package, said the president was being spendthrift by raising the overall budget 3%. They lambasted his plan to let President George W. Bush's tax cuts expire next year for families making more than $250,000.

Rep. Paul Ryan, R-Wis., top Republican on the House Budget Committee, called the budget "a very aggressive agenda of more government spending, more taxes, more deficits and more debt — with just a few cosmetic budget maneuvers to give the illusion of restraint."

Liberal budget experts agreed that the plan didn't go far enough to reduce the deficit, despite $1.6 trillion in savings over 10 years. The $1.56 trillion deficit would be cut in half by 2014 but grow back to $1 trillion by 2020. The cumulative deficit over 10 years: $8.5 trillion.

"It falls well short of what will be needed to get deficits under control," said Robert Greenstein of the liberal Center on Budget and Policy Priorities. "The budget probably goes as far in that area as today's toxic political environment will allow."

That's the problem facing Obama and Congress as the budget debate begins along with congressional election campaigns. For years, lawmakers have rejected presidents' budget proposals and reshaped them because they have the final power to approve spending.

WORLD CUP 2010.....WIN EGYPY

Egypt secured a record seventh Africa Cup of Nations title, after beating Ghana 1-0 in a tense final in Angola.

AFRICA. BBC:  Substitute Mohamed Gedo scored the only goal of the game, curling a beautiful shot past Richard Kingson in the Ghana goal six minutes from time.

Gedo's winner came against the run of play, after a sustained period of pressure from Milovan Rajevac's young Ghana side.

The striker finished as top scorer and earned Egypt a third title in a row.

Sri Lanka president wins re-election

COLOMBO:  Sri Lankan President Mahinda Rajapaksa has won a second term in office, a local news channel reported on Wednesday.

"The president has recorded a remarkable victory, with amore than 1.8 million vote majority," Rupavahini said. Official final results were not due for another three hours, but polling showed the incumbent with a powerful lead over his chief opponent, former army commander General Sarath Fonseka.

The two war victors turned to foes in a bloody campaign that culminated in a largely peaceful election on Tuesday, with turnout that independent observers placed at between 70 and 80 percent of the Indian Ocean island's 14 million registered voters.

Fonseka, a political neophyte, delivered an election day shock by admitting he was not registered to vote, after saying he may have done so but did not want to say where for security reasons.

The winner will take the reins of a $40 billion economy which has enjoyed a partial peace dividend, and is on the path to recovery with big Chinese and Indian investments into infrastructure and plans to put $4 billion into development.