Sunday, March 9, 2014

Canada, South Korea close to free trade deal: Canadian PM hollywoodtone.blogspot.com

Written By ADMIN; About: Canada, South Korea close to free trade deal: Canadian PM hollywoodtone.blogspot.com on Sunday, March 9, 2014

hollywoodtone.blogspot.com Canada, South Korea close to free trade deal: Canadian PM

TORONTO (Reuters) - Canada Prime Minister Stephen Harper said on Sunday he hopes to finalize a free trade agreement with South Korea during a trip there this week.


Sources familiar with the negotiations had said last week that the two sides were very close to signing a long-delayed free trade deal after years of talks.


Harper confirmed a deal is close in a video posted on his website as his office released details of the March 9 to 11 trip.


"We will be hoping to finalize a Canada-Korea free trade agreement," he said.


Canada, seeking to diversify its exports away from the United States, has long targeted the rapidly expanding economies of Asia.


Canada's Trade Ministry said exports to South Korea in 2012 were worth C$3.7 billion ($3.34 billion) while imports from South Korea hit C$6.4 billion.


Talks with South Korea began in 2005, but later stalled over disputes about auto exports and a delay by Seoul in scrapping its ban on Canadian beef. South Korea lifted its nine-year-old ban in 2012.


Some Canada-based auto firms worry about a free-trade deal on the grounds it would cut an existing 6.1 percent tariff on imports of vehicles made by Kia Motors Corp and Hyundai Corp.


But a free trade deal would be particularly welcome news for Canadian beef and pork shippers, who fear shipments to South Korea will shrink once Seoul's free trade deal with the United States takes full effect in 2016.


The Canadian Council of Chief Executives last month sent a letter to Trade Minister Ed Fast urging the deal be completed, saying the United States, the European Union and Australia had already concluded agreements with South Korea.


($1 = 1.1074 Canadian Dollars)


(Reporting by Jeffrey Hodgson; With additional reporting by David Ljunggren in Ottawa; Editing by Rosalind Russell)


hollywoodtone.blogspot.com Canada, South Korea close to free trade deal: Canadian PM

Crimean Tatars wary of Russia referendum hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Crimean Tatars wary of Russia referendum

Victims of Stalin's mass deportations in 1944, Crimea's Tatar Muslim minority look warily on next week's referendum on joining Russia, which could well bring the crisis on the tense peninsula to new heights.


At the Great Mosque in Bakhchysaray, near the southern tip of the Black Sea region, the local Tatar representative Akhtem Chiygoz describes the March 16 vote as "illegal".


The referendum is meant to confirm Thursday's decision by Crimea's pro-Moscow parliament to become part of the Russian Federation, but the authorities in Kiev have deemed it "illegitimate".


Just before prayer, Chiygoz urges about 100 faithful in the nearly 500-year-old mosque to keep calm and not "give in to provocations".


Rushing by, the young imam adds quickly "we are for peace, that's all".


Over the past week, pro-Russian forces have gradually taken control over the rugged peninsula of two million people.


Crimean Tatars pray in the Han mosque in the small Crimean city of Bakhchysarai on March 7 2014

Genya Savilov, AFP


Crimean Tatars pray in the Han mosque in the small Crimean city of Bakhchysarai on March 7, 2014



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While the move has been greeted by Crimea's Russian-speaking majority, it has drawn a less than enthusiastic response from the minority Tatars.


"There is no extremist rhetoric in our community," says Dilaver, 33, in response to comments about radical elements in the population.


"The only real threat is Russia, where there is no freedom of speech."


Eskender, an elderly man in the crowd, is equally outspoken: "We will not take part in the referendum, it's organised by Russian separatists."


But if a choice is to be made between annexation and a full blown conflict, joining Russia "will still be less awful than war," he admits.


Reports that panicked Tatars are fleeing Crimea amid Russia's tightening grip are mere "rumours," says Eskender.


A few hundred internal refugees have indeed left the peninsula in recent days and found refuge in western Ukraine, including the city of Lviv, many of them Tatars.


But this represents a small fraction of the minority's population of 240,000-300,000 -- or 12-15 percent of Crimea's two million.


- A vulnerable community -


A boy holds a sign reading "We are not a handful of people but a united nation !" as Turk...

Adem Altan, AFP/File


A boy holds a sign reading "We are not a handful of people, but a united nation !" as Turks of Crimean Tatar origin take part in a protest against Russian military intervention in the Ukrainian region of Crimea, on March 2, 2014, in Ankara



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Tatars have had a long and tortuous relationship with Russia. Bakhchysaray was the former capital of the Crimean Khanate, a powerful Tatar state between the 15th and 18th century, but when Moscow defeated the Tatars allied with the Ottoman Empire in the late 1700s, Crimea fell to Russia.


Soviet leader Nikita Khrushchev handed the region back to Ukraine in 1954.


"It's my home, my ancestors were born here. We won't leave, even if they come and kill us," says Rustem Mamutov, whose grandfather was deported by Stalin in 1944 and died in the train taking him to central Asia.


Mamutov himself only returned from Uzbekistan after the collapse of the Soviet Union at age 48.


Speaking to AFP in Crimea's capital Simferopol, Nariman Dzhelalov, vice-president of the Tatar assembly -- the Mejlis -- warns that Russian-speaking Crimeans could well "behave like conquerors towards us," if the peninsula becomes reattached to Moscow.


OSCE High Commissioner for Human Rights Astrid Thors, who visited Crimea this week, also expressed concern for the Tatar community.


"Crimean Tatars have taken a different position to the majority population, which increases their vulnerability," she said, describing "a growing climate of fear" between ethnic groups in the region.


Most Tatars seem to want their region to remain part of Ukraine, with the prospect of later joining the European Union.


On the Russian-speaking Crimean side, opinions are split.


"We are friends with the Tatars, they're our brothers," says Vladimir, a former army officer, now member of one of those self-defence groups seeking Crimea's attachment to Russia.


In front of the regional government building in Simferopol, where unarmed pro-Russian forces still stand guard, an elderly woman wanders around looking panicked: she has heard that Tatars plan to topple the statue of Lenin that dominates the square.


She says she will do everything she can to stop them, but asks not to be named.


"Otherwise they'll kill me, you understand," she says.


hollywoodtone.blogspot.com Crimean Tatars wary of Russia referendum

EU aims for deal on tackling failing banks next week hollywoodtone.blogspot.com

hollywoodtone.blogspot.com EU aims for deal on tackling failing banks next week

By Jan Strupczewski and Martin Santa


BRUSSELS (Reuters) - European Union governments and parliamentarians will try to reach a compromise this week on how to wind down failing banks, in marathon talks intended to settle who decides to close banks and who picks up the bill.


A deal in the negotiations, set to span three days, would be the final step in a European banking union that would mean one supervisor for all euro zone banks, one set of rules to close or restructure those in trouble and one common pot of money to pay for it.


The banking union, and the thorough clean-up of banks' books that will accompany it, is meant to restore banks' confidence in one another and boost lending to other businesses and households.


New lending has been throttled by banks' efforts to raise capital and reduce the bad loans that proliferated in the recession triggered by the global financial crisis and deepened by the euro zone's own sovereign debt crisis.


Policymakers agreed last year that the European Central Bank (ECB) will be the single supervisor for all euro zone banks and the ECB will take on its new responsibilities from November.


But talks on a single European agency to wind up or close failing banks, and on a single fund to back it up, have entered a crucial stage: EU governments, represented by finance ministers of the 28-nation bloc, and the European Parliament must reach a deal next week.


If they don't, there won't be enough time to complete the legislative process for the resolution mechanism before the last sitting of the current parliament in mid-April. The key law would be delayed by at least seven months, probably more.


"The ground is very well prepared, now we have to show political will. We will stay there (in the meeting) as long as it takes to find a solution," one EU official involved in the preparations for the talks said.


"It's clear to all EU member states that if we want to achieve an agreement there's only one direction to go - to try to accommodate the parliament," the official said.


The problem is that European governments and the European Parliament want different things.


POSITIONS FAR APART


EU finance ministers agreed in early December that a decision on closing down a bank in the euro zone would be taken by the board of the resolution agency, but that decision must be signed into law by the EU's executive Commission and by all the EU finance ministers.


The European Parliament wants no involvement of EU finance ministers, arguing it would politicize the process.


Parliament also wants the ECB - the supervisor of all banks - to be the only institution that can declare a bank is failing and that its fate has to be resolved. EU governments want the single resolution agency board and national authorities to have a say.


Governments and parliamentarians also disagree on how quickly to build up the shared resolution fund and how soon all the money in it should be accessible to all countries.


The fund will be filled from contributions of all euro zone banks and is to reach, eventually, around 55 billion euros ($76 billion).


Governments want the fund to reach full capacity over 10 years and agreed the amount of money that would be available to all euro zone countries would increase by 10 percent each year, so that the fund would be fully mutualised after a decade.


In the meantime, if a euro zone country does not have enough money accumulated from the contributions of its own banks to cover the costs of closing one, its government would have to come up with the cash. If it cannot borrow that from the markets, it could ask the euro zone bailout fund for a loan.


The parliament believes this would not break the vicious circle of highly indebted governments trying to rescue banks that are failing because they lent to the government.


Parliamentarians therefore want all bank contributions to the resolution fund to be fully available to all euro zone countries after three years, not 10. This could make it unnecessary for governments to borrow at all, providing relief to battered public finances.


Whether banks would therefore have to pay in all the 55 billion more quickly as a result is another contentious issue.


Finally, policymakers have to decide if they will allow the single resolution fund to borrow on the market against the security of future contributions from banks if it is short of cash at any point, or if it should be allowed to borrow from the euro zone bailout fund or given government guarantees.


Even though all these issues have been known since early December, there has been no progress so far.


"No major issue has been solved, because we will go for solving them all together," the EU official said.


A deal is to be worked out over Monday and Tuesday, when euro zone and EU finance ministers meet to amend their initial position from December, and Wednesday when they will present the new stance to parliament. ($1 = 0.7214 euros)


(Reporting by Jan Strupczewski; Editing by Ruth Pitchford)


hollywoodtone.blogspot.com EU aims for deal on tackling failing banks next week

Guardiola warns record-breaking Bayern as Arsenal loom hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Guardiola warns record-breaking Bayern as Arsenal loom

Coach Pep Guardiola has warned record-breaking Bayern Munich to expect 'big problems' against Arsenal if they gift the Gunners too much possession in Tuesday's Champions League last 16, second-leg.


European champions Bayern hold a 2-0 led from the first leg in London and warmed-up for Tuesday's clash at Munich's Allianz Arena with a 6-1 drubbing of Wolfsburg in the league on Saturday.


Guardiola is all too aware that Arsenal claimed a 2-0 win in Munich at the same stage in Europe last season, although Bayern went through on away goals to eventually win the final.


"If we give Arsenal too much possession, we will have big, big problems," warned Guardiola.


"If we keep the ball, we'll get into the quarter-finals, if they control it, they'll go through."


Arsenal prepared for their trip to Bavaria with a 4-1 FA Cup quarter-final win over Everton.


Gunners manager Arsene Wenger has said the victory, with goals from Mesut Ozil, Mikel Arteta, plus two from Olivier Giroud, put them "in a good frame of mind psychologically".


Mario Mandzukic (centre) celebrates scoring Bayern Munich's third goal during the Bundesliga ma...

Odd Andersen, AFP


Mario Mandzukic (centre) celebrates scoring Bayern Munich's third goal during the Bundesliga match against VfL Wolfsburg on March 8, 2014 in Wolfsburg, central Germany



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But Guardiola is wary as Wolfsburg were still in Saturday's Bundesliga match with 30 minutes left until Bayern ran riot after a below-par first 45 minutes.


Germany winger Thomas Mueller and Croatia striker Mario Mandzukic grabbed two goals each as the score leapt from 2-1 after 63 minutes to 6-1 with 80 minutes on the clock.


It was a particularly good day for Mandzukic, who came off the bench against his old club for the last 33 minutes to score twice, and give him 16 goals for the season.


The 27-year-old has now netted six times in his last five league games to take over from Borussia Dortmund's Robert Lewandowski as the league's top scorer.


With second-placed Dortmund playing Freiburg on Sunday, Bayern have opened a record 23-point lead at the top of the table.


The win in Wolfsburg was Bayern's 16th Bundesliga victory in a row and bettered their own league record of 15 straight wins in 2005.


It extended their record unbeaten league run to 49 matches.


It matches Arsenal's Premier League record of 49 games without defeat set in 2004 and is bettered only by AC Milan's record of 58 matches unbeaten from 1991-1993 in Europe's top leagues.


Bayern's haul of 72 goals from their first 24 league games broke Werder Bremen's previous record of 70 set in 1985/86 and Bayern have only dropped four points with 22 wins in 24 games.


hollywoodtone.blogspot.com Guardiola warns record-breaking Bayern as Arsenal loom

Blocked by sunken Russian ships, Ukraine's navy stays defiant hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Blocked by sunken Russian ships, Ukraine's navy stays defiant

Russia has deliberately sunk three of its own ships to block Ukrainian navy vessels into a lake off the Black Sea, officers say, highlighting Moscow's determination to wear down the morale of Kiev's forces in Crimea.


The Ochakov -- a Soviet-era warship decommissioned in 2011 and set to be sold for scrap -- was towed to the entrance to Lake Donuzlav on Crimea's western coast from the Russian base at Sevastopol on Thursday and blown up.


It capsized and, along with two smaller Russian vessels, is now blocking the narrow gap between two spits of land, its hull beaten by rough Black Sea waves.


Ukraine's navy has limited resources and suffered a major blow last week when its chief Denis Berezovsky switched allegiance to the pro-Russian Crimean authorities and a new chief was appointed.


But officers at a base near where the Russians sank the ship have no doubt what the Russians were trying to do and insist they will not be shaken by the tactics.


"It is blocked so we cannot get out," said Captain Viktor Shmyganovsky, second-in-command at the base in Novoozerne, one of the four biggest in Crimea.


A Russian Small ant-submarine ship is moored in the port of Sevastopol on March 8 2014

Filippo Monteforte, AFP


A Russian Small ant-submarine ship is moored in the port of Sevastopol on March 8, 2014



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"If it wasn't blocked, we could have taken our ships to Odessa and it would stop them being seized by Russian forces. We would be more powerful in alliance with ships in Odessa."


Ukraine's navy headquarters is in Sevastopol, where Russia's Black Sea Fleet was founded under Imperial Russia 230 years ago, but is currently barricaded by pro-Russian militants.


Odessa, further round the coast into Ukraine and the country's largest port, offers a safer option amid the current military situation in Crimea, a semi-autonomous region of Ukraine where pro-Russian forces have seized control.


- 'Loyal to Ukraine' -


A pro-Russian activist rides a bicycle decorated with a Russian and the Russian Navy flags in the ce...

Viktor Drachev, AFP


A pro-Russian activist rides a bicycle decorated with a Russian and the Russian Navy flags in the center of Sevastopol on March 7, 2014



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The Novoozerne base -- built by the Soviets in 1976 and dotted with decorative Cold War missiles and communications equipment -- flies the Ukrainian flag prominently and is protected by a handful of troops armed with Kalashnikovs.


While Ukrainian officers would not disclose exactly how many men are based there, it is thought to be in the dozens.


After the ships were blown up, the commander of Russia's Black Sea fleet, Admiral Alexander Vitko, came to the base trying to get them to switch sides, said Shmyganovsky.


"He wanted us to swear for the Russian people. Members of the navy gave an honourable answer to the admiral -- Ukraine's soldiers will remain faithful to Ukraine's people," the small, neatly-dressed officer added.


"A few military helicopters and planes were sent here (after the ships were sunk) and they were trying to break down our morale."


Officers at the base declined to confirm how many Ukrainian ships were currently in Lake Donuzlav, while hinting at submarine capability.


One of several pro-Russian demonstrators blocking the entrance to the Ukranian Navy headquarters in ...

Filippo Monteforte, AFP


One of several pro-Russian demonstrators blocking the entrance to the Ukranian Navy headquarters in Sevastopol holds Soviet flags, on March 7, 2014



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But Ukraine's navy is around a tenth of the size of Russia's and suffers from "inadequate finances", according to London-based military affairs think-tank the International Institute for Strategic Studies (IISS).


Ukraine only has one, Soviet-built submarine which it is currently trying to restore to "service condition after over a decade of inactivity," it adds.


Despite the odds stacking up against them, the Ukrainian navy is determined to stand its ground to the end in this storied naval territory, said Shmyganovsky.


"From history, we know that those who cannot use political means resort to weapons instead. An admiral once said Sevastopol never gives up and we can say the same about other Ukrainian navy units," he added.


"As you know, no Ukrainian navy units have put down their weapons except Admiral Berezovksy. None of the others swore for the Crimean or Russian people. We're staying loyal to the Ukrainian people."


hollywoodtone.blogspot.com Blocked by sunken Russian ships, Ukraine's navy stays defiant

Libya separatists load NKorea oil ship and ignore warning hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Libya separatists load NKorea oil ship and ignore warning

Libyan separatists loaded oil onto a North Korean tanker for a second consecutive day on Sunday, ignoring the central government's threats of military action, an industry official said.


The separatists are former rebels who have turned against the interim authorities in the restive North African country after toppling veteran dictator Moamer Kadhafi in the 2011 uprising.


Since July separatists have been blockading oil terminals in eastern Libya that they had been entrusted with guarding over demands for autonomy in eastern regions and a share in lucrative oil revenues.


On Saturday they began loading oil onto the Panamanian-flagged "Morning Glory" tanker docked at Al-Sidra terminal.


Prime Minister Ali Zeidan ordered them to stop or else the tanker would be bombed, while Oil Minister Omar Shakmak denounced the separatists for an "act of piracy".


On Sunday the defence ministry said orders for military action had been issued to the armed forces, the official Lana news agency reported.


The Libyan Navy ship Ibn Auf arrives in the port of the capital Tripoli on January 8 2014 after ta...

, AFP/File


The Libyan Navy ship Ibn Auf arrives in the port of the capital Tripoli on January 8, 2014, after taking part in an operation to prevent two tankers docking in the activist-held eastern port of Al-Sedra



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The ministry ordered the chief of staff, the navy and the air force "to deal with the tanker that entered Libyan waters without a prior permit from the legitimate authorities," Lana said.


The report came as National Oil Corporation spokesman Mohamed al-Hariri said that the Morning Glory was "still inside the harbour and loading is underway".


Hariri said he expected the operation to continue until the end of Sunday, noting that the ship could take up to 350,000 barrels of crude oil.


But he was unable to give details on any plans by the authorities to stop the tanker from leaving the port.


- Plans to intercept ship -


However, military sources said plans were in place to intercept the tanker before it leaves Libya's territorial waters.


Prime Minister Zeidan told a news conference late Saturday that the attorney general had given the order for the ship to be stopped.


"All parties must respect Libyan sovereignty. If the ship does not comply, it will be bombed," he said.


Zeidan said the authorities had told the vessel's captain to leave Libya's waters, but added that armed gunmen on board were preventing him from setting sail.


A spokesman for the self-proclaimed government of Cyrenaica in the east, the political wing of the separatists, had said Saturday that oil exports from Al-Sidra had begun.


"We are not defying the government or the Congress (parliament). But we are insisting on our rights," said Rabbo al-Barassi, who heads the Cyrenaica executive bureau formed in August.


The crisis erupted in July, when security guards at key terminals shut them down, accusing the authorities of corruption and demanding a more equitable distribution of oil revenues.


The situation has become more complicated as self-rule activists have insisted on the right to export.


Oil is a key revenue Libya and following the blockade of terminals production plunged to about 250,000 barrels per day from 1.5 million barrels.


hollywoodtone.blogspot.com Libya separatists load NKorea oil ship and ignore warning

Libya separatists loading NKorea oil ship ignore warning hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Libya separatists loading NKorea oil ship ignore warning

Libyan separatists loaded oil onto a North Korean tanker for a second consecutive day on Sunday, ignoring the central government's threats of military action, an industry official said.


The separatists are former rebels who have turned against the interim authorities in the restive North African country after toppling veteran dictator Moamer Kadhafi in the 2011 uprising.


Since July separatists have been blockading oil terminals in eastern Libya that they had been entrusted with guarding over demands for autonomy in eastern regions and a share in lucrative oil revenues.


On Saturday they began loading oil onto the Panamanian-flagged "Morning Glory" tanker docked at Al-Sidra terminal.


Prime Minister Ali Zeidan ordered them to stop or else the tanker would be bombed, while Oil Minister Omar Shakmak denounced the separatists for an "act of piracy".


On Sunday the defence ministry said orders for military action had been issued to the armed forces, the official Lana news agency reported.


The ministry ordered the chief of staff, the navy and the air force "to deal with the tanker that entered Libyan waters without a prior permit from the legitimate authorities," Lana said.


The report came as National Oil Corporation spokesman Mohamed al-Hariri said that the Morning Glory was "still inside the harbour and loading is underway".


The Libyan Navy ship Ibn Auf arrives in the port of the capital Tripoli on January 8 2014 after ta...

, AFP/File


The Libyan Navy ship Ibn Auf arrives in the port of the capital Tripoli on January 8, 2014, after taking part in an operation to prevent two tankers docking in the activist-held eastern port of Al-Sedra



image:178257:0::0



Hariri said he expected the operation to continue until the end of Sunday, noting that the ship could take up to 350,000 barrels of crude oil.


But he was unable to give details on any plans by the authorities to stop the tanker from leaving the port.


- Plans to intercept ship -


However, military sources said plans were in place to intercept the tanker before it leaves Libya's territorial waters.


Prime Minister Zeidan told a news conference late Saturday that the attorney general had given the order for the ship to be stopped.


"All parties must respect Libyan sovereignty. If the ship does not comply, it will be bombed," he said.


A general view shows the Zawiya oil installation on August 22 2013 in Zawiya Libya

Mahmud Turkia, AFP/File


A general view shows the Zawiya oil installation on August 22, 2013 in Zawiya, Libya



image:178419:0::0



Zeidan said the authorities had told the vessel's captain to leave Libya's waters, but added that armed gunmen on board were preventing him from setting sail.


A spokesman for the self-proclaimed government of Cyrenaica in the east, the political wing of the separatists, had said Saturday that oil exports from Al-Sidra had begun.


"We are not defying the government or the Congress (parliament). But we are insisting on our rights," said Rabbo al-Barassi, who heads the Cyrenaica executive bureau formed in August.


The crisis erupted in July, when security guards at key terminals shut them down, accusing the authorities of corruption and demanding a more equitable distribution of oil revenues.


The situation has become more complicated as self-rule activists have insisted on the right to export.


Oil is a key revenue Libya and following the blockade of terminals production plunged to about 250,000 barrels per day from 1.5 million barrels.


hollywoodtone.blogspot.com Libya separatists loading NKorea oil ship ignore warning

India far-right party supports Modi for PM hollywoodtone.blogspot.com

hollywoodtone.blogspot.com India far-right party supports Modi for PM

A far-right wing Indian party on Sunday publicly threw its support behind opposition Hindu nationalist Narendra Modi for prime minister ahead of next month's general elections.


The firebrand head of the Maharashtra Navnirman Sena (MNS), Raj Thackeray, said he would back Modi, while announcing that his party would also field a handful of candidates for the elections.


"We will support Narendra Modi for the prime minister's post. Modi should become the prime minister of the country," 45-year-old Thackeray told supporters in Mumbai where his party is based.


The MNS, a rival offshoot of the hardline right-wing Shiv Sena, has a record of inciting riots and other violence mainly in its opposition of migrants in western Maharashtra state of which Mumbai is the capital.


Thousands of poor migrants from mostly northern India flock to the financial hub in search of jobs, which the MNS sees as a threat to the local Marathi workforce.


Workers erect a billboard bearing the portrait of India's opposition Bharatiya Janata Party (BJ...

Raveendran, AFP


Workers erect a billboard bearing the portrait of India's opposition Bharatiya Janata Party (BJP) prime ministerial candidate Narendra Modi in New Delhi on March 5, 2014



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The MNS champions the culture, language and rights of regional Maharathis over so-called "outsiders".


Despite the support, it is unclear whether Thackeray's move will help Modi's Bharatiya Janata Party (BJP) which is tipped by opinion polls to defeat the ruling Congress party at polls starting on April 7.


According to reports, a BJP leader urged Thackeray days earlier not to field MNS candidates to preserve the BJP's ties with traditional ally Shiv Sena and avoid splitting the vote against Congress in Maharashtra.


After Shiv Sena took power in the Maharashtra government in 1994, it changed the city's name from Bombay to Mumbai to underline the region's Marathi identity in a move that attracted worldwide attention.


Modi, the chief minister of western Gujarat state since 2001, is seen as a pro-business reformer. But his Hindu nationalism and links to deadly anti-Muslim riots in 2002 in his home state have worried religious minorities and defenders of India's officially secular character.


hollywoodtone.blogspot.com India far-right party supports Modi for PM

Abandoned Spanish villages, given away for free hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Abandoned Spanish villages, given away for free

For sale: hamlet in Spain. Needs work. Price: zero euros.


Like thousands of abandoned villages in Spain, A Barca -- with its 12 crumbling stone homes covered in moss and ivy -- is seeking a new owner to bring it back to life.


Local officials in Spain's verdant northwestern region of Galicia hope to give away the hamlet, which is nestled in a hillside overlooking the Mino river near the Portuguese border.


The successful applicant must present a development project for the village, which dates back to the 15th century, that will preserve all of its buildings.


Several proposals have already been made but Avelino Luis de Francisco Martinez, the mayor of Cortegada, the municipality that oversees A Barca, said he would prefer a tourism project.


"Something that would provide work to villagers and local businesses," he said.


The residents of A Barca left in the 1960s when a dam was built, which flooded their farmland.


But most of Spain's abandoned hamlets have been deserted by residents who moved to larger cities or better land for farming.


A picture taken on February 18 2014 shows Avelino Luis de Francisco Martinez the mayor of Cortegad...

Miguel Riopa, AFP


A picture taken on February 18, 2014 shows Avelino Luis de Francisco Martinez, the mayor of Cortegada, walking by the ruins of a house in the abandoned village of A Barca, near Cortegada



image:178414:0::0



Spain's National Statistics Institute estimates that there are around 2,900 empty villages across the country, according to Rafael Canales, the manager of a website specialising in the sale of deserted hamlets called aldeasabandonadas.com.


Over half are in Galicia, a largely rural region that is home to the famous pilgrimage site of Santiago de Compostela, and the neighbouring region of Asturias.


Spain's lengthy economic downturn, which has sent the jobless rate soaring to just over 26 percent, has pushed more owners to put their properties up for sale.


"We count as our clients many writers, painters or rural tourism professionals," said Canales.


Mark Adkinson, the British manager of a rival online portal called galicianrustic.com, said his company had identified 400 abandoned villages in the eastern part of Galicia alone.


When Adkinson, who is based 150 kilometres (90 miles) north of Cortegada, finds an empty village he starts searching for its owners.


The task is sometimes difficult, even impossible.


A picture taken on February 19 2014 shows Neil Christie in his home at the abandoned village of Arr...

Miguel Riopa, AFP


A picture taken on February 19, 2014 shows Neil Christie in his home at the abandoned village of Arrunada, close to Pontenova



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Often the owners of abandoned properties moved away long ago and have not been heard from since. In other cases property deeds have been lost and can't easily be found.


"It also happens sometimes that owners themselves come to us and propose putting their property up for sale," said Adkinson, a former livestock breeder from Lancashire who has lived in Galicia for nearly three decades.


- Foreign interest -


The abandoned villages are especially appealing to foreigners like Neil Christie, a 60-year-old retired Briton who used to work in television.


He bought three stone houses and a granary raised on rock pillars -- typical in the northwest of Spain -- that make up the hamlet of Arrunada in Asturias for 45,000 euros ($62,000).


Christie has spent the past four years restoring the main house, located amid green pastures some 30 kilometres south of the Atlantic coat.


He hopes to move in at the end of the year.


"I wanted to flee the stress of London. This was just a bunch of ruins. But I would never be able to buy something similar in England," he said.


"It is a very pretty region. People are very nice. There is a real quality of life," he added.


A map displays abandoned villages listed by Mark Adkinson's website "Galicianrustic.com&qu...

Miguel Riopa, AFP


A map displays abandoned villages listed by Mark Adkinson's website "Galicianrustic.com" in Rabade



image:178416:0::0



Britons are among the foreigners who have shown the most interest in buying Spain's abandoned hamlets.


But Norwegians, Americans, Germans, Russians and even Mexicans have also made purchases, said real estate agent Jose Armando Rodil Lopez.


"In general, once you cross the barrier of 80,000 euros, the potential buyers are foreigners," he explained during a tour of the hamlet of Pena Vella, also in the Asturias.


The hamlet, which is on sale for 62,000 euros, is made up of five stone houses with slate roofs surrounded by pine and eucalyptus trees.


"A family used to live here. Some of them made knives, others were carpenters and farmers," said Rodil Lopez.


hollywoodtone.blogspot.com Abandoned Spanish villages, given away for free

Bank of England's Carney faces grilling over foreign exchange scandal hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Bank of England's Carney faces grilling over foreign exchange scandal

By William Schomberg and William James


LONDON (Reuters) - Mark Carney faces probably his toughest questioning so far as Bank of England governor next week when lawmakers will seize on a foreign exchange scandal to press their demands for tighter oversight of the central bank.


Carney arrived from Canada last July as an outsider with a mandate to shake up the 320 year-old institution, from monetary policy to its relationship with the powerful banks of the City of London.


A group of influential members of parliament wants Carney to change the way the BoE polices itself too.


Their long-standing frustrations with what they say is the Bank's outdated governance system broke out again last week when the BoE suspended an official amid an internal review into whether Bank staff turned a blind eye to possible manipulation of key rates by foreign exchange traders.


The meetings at which the BoE and traders discussed possible problems in the market took place as far back as 2006, seven years before Carney's arrival in London.


But lawmakers are angry that the Bank's Court of Directors - its governing board - only asked its oversight committee to investigate last week. Carney may also be asked to show how quickly he responded to the first signs of the case last year.


Mark Garnier, a member of the Treasury Committee which will hear Carney on Tuesday, said any perceptions that the BoE was not tough enough on tackling problems could damage London's reputation as a financial center, potentially weakening Britain's hand in European Union talks over financial reforms.


"We will be asking the governor what steps he is taking to bring management arrangements and committee structure up to the standards of the 21st century," Andrew Love, another member of the Treasury Committee, said.


Former finance minister Alistair Darling said in 2011 that the governance arrangements were antiquated. "It is all to do with the governor being some sort of Sun King around which the Court revolves," he said.


The Court has since gained new oversight powers. But critics say it still lacks clout. Its chairman David Lees acknowledges he plays second fiddle to the BoE governor.


"It's lower down the pecking order than you would be used to in the corporate sector," he told the Evening Standard newspaper last month.


The Sunday Telegraph newspaper reported the Court's oversight committee may name a judge, academic or senior financial industry executive to run its investigation.


There could also be tough questions for another BoE policymaker official due to attend Tuesday's hearing.


Paul Fisher, a member of the Monetary Policy Committee, was previously BoE's head of foreign exchange and he chaired the Foreign Exchange Joint Standing Committee, a forum for Bank officials and market players to discuss market issues.


It was at a sub-group of that committee that dealers raised concerns with BoE officials as early as July 2006 over attempts to move the market around the time of daily benchmark fixings.


Last week, when it announced the suspension of the unnamed official, the BoE stressed the importance of staff keeping records and flagging concerns to managers. It also said it had found no evidence that its staff colluded in any manipulation.


Tuesday's meeting was originally scheduled as a regular hearing on monetary policy. Carney is likely to face some criticism over the way the BoE scrambled to revamp its policy of signaling the likely path of interest rates last month, after it misjudged the speed of the labor market's recovery, leading to questions about the value of the policy that Carney introduced.


MORE CHANGE COMING?


The Canadian has already made his mark on the BoE in ways beyond the forward guidance revamp of monetary policy. He has established a less hostile tone towards bankers than his predecessor Mervyn King and created the new post of chief operating officer to oversee an internal Bank shake-up.


Consultants McKinsey are working on ways to pursue that modernization drive and its findings are expected soon.


Lawmakers hope that on the list will be the BoE's Court.


John van Reenen, director of the Centre for Economic Performance at the London School of Economics, said a natural extension of Carney's push to improve transparency at the Bank would be to bring more clarity to its internal supervision.


"He's not as respectful of venerable British institutions as many people are, and from time to time you want to take a cold, hard look at whether the existing set of institutions really is fit for purpose in a modern age," he said.


"He seems to be a person who is prepared to make those kind of changes."


(Additional reporting by Jamie McGeever and David Milliken; Editing by Louise Ireland)


hollywoodtone.blogspot.com Bank of England's Carney faces grilling over foreign exchange scandal

Saudis, Emiratis quit Qatari media outlets hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Saudis, Emiratis quit Qatari media outlets

Saudi and Emirati pundits have quit major media outlets in Qatar, including the broadcaster of top-flight European football, they said on Sunday, as tensions soar between Doha and Gulf states.


In an unprecedented decision on Wednesday, Saudi Arabia, the United Arab Emirates and Bahrain withdrew their envoys to Qatar, which they accused of meddling in their internal affairs by supporting Islamists.


Doha has dismissed the charge, citing instead differences in regional politics.


Saudi columnist Samar al-Mogren, who writes for Al-Arab Qatari daily, tweeted on Sunday that the "Saudi ministry of culture and information has decided to end the collaboration of Saudi writers with Qatari newspapers."


She said that two other Saudi writers, Saleh al-Shehi and Ahmed bin Rashed al-Saeed, had also stopped writing for Qatari newspapers based on the ministry's orders.


Another writer, Muhanna al-Hubail, had received similar orders from the ministry, said Mogren.


Meanwhile, Emirati commentators and analysts announced they had quit BeIn Sports, which exclusively broadcasts matches from the English Premier League and the Spanish La Liga to millions of football fans across the Middle East.


Ali Saeed Al Kaabi and Fares Awad announced on Twitter Saturday their resignation from BeIn, without giving any reasons.


Emirati football pundit Sultan Rashed said he would stop contributing to BeIn, while analyst Hassan al-Jassmi said he would no longer appear on both BeIn and Alkass, another Qatari sports channel.


Qatar is a staunch supporter of the Muslim Brotherhood, viewed by most conservative monarchies of the Gulf as a threat to their grip on power in their countries because of its grass-roots political advocacy and calls for Islamic governance.


The Gulf Cooperation Council groups Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.


hollywoodtone.blogspot.com Saudis, Emiratis quit Qatari media outlets

Baltic states jittery over 'unpredictable' Russia hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Baltic states jittery over 'unpredictable' Russia

Standing in the shadow of a massive, grey former KGB building in a busy Vilnius street, Lithuanian pensioner Rimantas Gucas worries history could repeat itself if the West fails to stop Russia from absorbing Ukraine's Crimean peninsula.


As Lithuania marks 24 years since it broke free from the crumbling Soviet Union and a decade since it joined NATO, people here and in fellow Baltic states Estonia and Latvia are jittery over Russian moves in Crimea.


Russian President Vladimir Putin is a "madman" who "won't stop until he's stopped by force," Gucas, 72, who grew up under Soviet occupation, told AFP.


"Should we in the Baltic states be worried too? Ukraine reminds us of the takeover of Czechoslovakia in 1938. Should we now wait for a repeat of the 1939 attack on Poland?" he said, recalling the moves by Nazi German dictator Adolf Hitler that sparked World War II.


The former KGB Soviet secret-service building in Vilnius is now a court and museum with the names of partisans who fought Soviet occupation from 1944-1953 carved on its stony wall. Soviet troops also killed 14 civilians when they stormed a Vilnius television tower in January 1991 in a failed bid to crush independence.


Demonstrators hold posters at a protest in front of the Russian embassy in Vilnius on March 3 2014 ...

Petras Malukas, AFP


Demonstrators hold posters at a protest in front of the Russian embassy in Vilnius on March 3, 2014 against Russia's intervention in Ukraine



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"I think Putin should be called 'Putler' or 'Stalin II'," said Vilnius pensioner Birute Jurksiene, comparing the Russian president to Hitler and Soviet dictator Joseph Stalin.


"The West didn't suffer like we did, so they just can't understand."


The USSR occupied and then annexed Estonia, Latvia and Lithuania during World War II. Mass deportations to Siberia and Central Asia followed.


The trio remained firmly under Moscow's thumb until Kremlin leader Mikhail Gorbachev came to power and began the Perestroika and Glasnost political and economic reforms, which triggered the USSR's collapse in 1991.


Lithuania, where about six percent of the population are Russian, was the first Soviet republic to declare independence on March 11, 1990. Estonia and Latvia were quick to follow.


All three joined the EU and NATO in 2004 in a bid to seal their independence from Moscow.


- NATO shield -


A woman passes a memorial with names of victims by the KGB at the former KGB headquarters in Lithuan...

Petras Malukas, AFP


A woman passes a memorial with names of victims by the KGB at the former KGB headquarters in Lithuania, on March 7, 2014



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But an invitation to independence festivities in Vilnius on Tuesday posted by organisers on Facebook warned that events in Ukraine prove that "independence and freedom can be very fragile, even today".


Also comparing Putin to Stalin, Lithuanian President Dalia Grybauskaite starkly warned that Russia is "dangerous" and "unpredictable" during a recent emergency EU summit in Brussels focused on Ukraine.


"This is about rewriting borders," the tough-talking former EU budget chief said, pointing to Crimea.


The EU is mulling economic sanctions against Moscow over its actions there, with hawkish Eastern European members pushing the hardest.


Vilnius University analyst Kestutis Girnius is, however, more circumspect about the threat posed by Moscow. He said EU and NATO membership make the Crimea scenario highly improbable in the Baltic states.


"Since NATO would lose all credibility if it failed to defend them, it has an overriding motive to come to their defence. Russia knows this, and thus will avoid tempting fate," he told AFP.


Moscow has special links to Crimea, which was transferred from Russia to Ukraine in 1954 when they were both part of the USSR. That is not the case for the Baltics, he added.


Lithuanian demonstrators wear the Ukrainian flag and hold posters reading "Hands off Ukraine&qu...

Petras Malukas, AFP


Lithuanian demonstrators wear the Ukrainian flag and hold posters reading "Hands off Ukraine" during a protest against Russia's intervention in Ukraine in front of the Russian embassy in Vilnius, on March 3, 2014



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"The Soviet occupation of the Baltic states was never recognised by the West and Moscow grudgingly accepted 'Baltic exceptionalism'. Russia made clear its opposition to Baltic entry into NATO, but made no serious efforts to halt the process," Girnius explained.


But Moscow's brief 2008 war with ex-Soviet Georgia and Russian military exercises focused on cutting off the Baltic states from the rest of NATO sparked concern.


As the Crimea crisis escalated, Washington sent six additional F-15 fighter jets Thursday to step up NATO's Baltic air policing mission from a base in Lithuania, expanding the squadron to 10.


- Promises -


Lithuanian Defence minister Juozas Olekas called the deployment a response to "Russian aggression in Ukraine and additional military activity in the Kaliningrad region," Russia's exclave bordering Lithuania and fellow ex-communist NATO member Poland.


Moscow slapped trade restrictions on Lithuania last year -- a move Vilnius dubbed retaliation for its key role in efforts to seal an EU association pact with Ukraine.


Ousted president Viktor Yanukovych rejected the agreement in favour of an aid deal with Russia, sparking the protests that ultimately led to his ouster last month.


Moscow's promises to "defend" ethnic Russians in Crimea have set off alarm bells in Latvia and Estonia, where Russian-speakers make up around a quarter of population.


Latvia’s Foreign Minister Edgaras Rinkevics recently tweeted that the "Crimea scenario resembles occupation of the Baltic states by the USSR in 1940".


Leonid, one of Latvia's 300,000 Russian-speakers, insists Moscow has no business in Ukraine.


"Military force just isn't right," the 60-year-old told AFP in the capital Riga. "It's a tragedy that Russians and Ukrainians are against each other when we're brothers," he added.


But the largest party in Latvia's parliament has refused to condemn Russia outright.


Supported mainly by ethnic Russians and with ties to Vladimir Putin's United Russia party, the Harmony Centre said that both Moscow and Kiev were to blame for tensions.


Enn Tart, a Soviet-era dissident in Estonia, warned Russia "will always make demands on its neighbours, as it has done for centuries".


"But I hope the EU and US will finally understand that Putin should be stopped," he said.


hollywoodtone.blogspot.com Baltic states jittery over 'unpredictable' Russia

U.S. says committed to Gulf security despite own energy wealth hollywoodtone.blogspot.com

hollywoodtone.blogspot.com U.S. says committed to Gulf security despite own energy wealth

The United States is committed to preserving security in the oil-rich Gulf region despite its growing energy independence, U.S. Commerce Secretary Penny Pritzker said on Sunday.


"The United States and the UAE share a commitment to preserve security and stability throughout the Gulf," Pritzker told a business forum in Abu Dhabi.


"That commitment will not change even as the United States becomes more energy independent," she said.


Washington was interested in "making sure that oil markets throughout the world remain stable and well supplied," she added.


Pritzker is leading a trade mission on a Gulf tour that will also take her to Saudi Arabia and Qatar.


In October last year, oil production in the United States surpassed crude imports for the first time in nearly two decades, helped mainly by production from newly tapped shale-based reserves.


Domestic output hit 7.7 million barrels per day (mbpd) in October, a 24-year high, the Energy Information Agency said in November.


Oil imports, long seen as a strategic and economic vulnerability for the U.S., sank well below that figure to a 17-year low, it said.


The onset of hydraulic fracturing, or fracking, has allowed drillers to unlock reserves in hard-to-exploit shale strata and brought on a rise in the production of oil and natural gas.


The shift has taken U.S. reliance on imported oil to less than 40 percent of domestic consumption, compared with more than 60 percent at the peak of import dependence in 2005.


The EIA forecasts imports will make up only 28 percent of consumption in 2014, the lowest level since 1985.


Despite long-running projects aimed at diversification, Gulf Arab states remain heavily dependent on oil and natural gas, which make up about 90 percent of total public revenues.


The six Gulf Cooperation Council states, four of which are members of OPEC, together pump about 17.5 million barrels of oil per day, a fifth of global production and around 55 percent of OPEC's output.


hollywoodtone.blogspot.com U.S. says committed to Gulf security despite own energy wealth

Putin takes economic gamble with Crimea swoop hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Putin takes economic gamble with Crimea swoop

Russia is facing a prolonged period of low growth due to a failure to implement reform, is suffering from disturbing capital flight and the ruble is coming under sustained market pressure.


So is it really the best time for President Vladimir Putin to launch an audacious bid to incorporate the Ukrainian region of Crimea into Russia within a matter of weeks?


Economists say that the swoop on Crimea carries huge economic risks for Putin, who faces retaliation from the West, increased pressure on the already-embattled ruble and yet more haemorrhaging of foreign capital from jittery investors.


The Russian strongman, who has not ruled out standing for re-election in 2018, has clearly put the political gain of grabbing Crimea before the short-term health of the Russian economy in the hope the damage will not be lasting.


But economists say such logic may be flawed and Russia's economic performance going forward will in any case make a mockery of its status as a member of the BRICS group of top emerging markets along with Brazil, India, China and South Africa.


- Russia can't afford cold war -


Vladimir Putin opens the boot of a new model of the Lada-Granta car during a visit to the AvtoVaz au...

Vladimir Rodionov, RIA Novosti/AFP


Vladimir Putin opens the boot of a new model of the Lada-Granta car during a visit to the AvtoVaz automobile plant in Togliatti on May 11, 2011



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"The crisis in Ukraine has increased the risks to Russia's already weakening economy presented by currency depreciation and capital flight," analysts at ratings agency Fitch said.


"Capital flight could accelerate, particularly if the threat of economic and financial sanctions increased."


Russia's growth was a measly 1.3 percent in 2013, with its economy suffering from a longstanding failure to implement reforms needed to wean it off an addiction to oil and gas income.


According to the economy ministry, private sector capital outflows have already reached $17 billion so far this year alone.


These factors and general nerves over emerging markets have put the ruble under sustained pressure.


But on Monday it suffered an all out assault, falling to record lows in value against the dollar and euro after Putin won approval from parliament for a de-facto invasion of Ukraine.


In that single day, the central bank spent over $11 billion propping up its currency, some five times more than any other intervention by the Russian central bank in its history.


Vladimir Putin (centre) holds an ADS dual-medium amphibious assault rifleduring a visit to an arms f...

Alexei Nikolsky, RIA-NOVOSTI/AFP


Vladimir Putin (centre) holds an ADS dual-medium amphibious assault rifleduring a visit to an arms factory in Tula, south of Moscow, on January 20, 2014



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"Capital flight, uncertainty and the higher interest rates needed to support the ruble will take their toll on Russia," said economists at Berenberg Bank in London, cutting their growth forecast for Russia to zero in 2014.


"Like the Soviet Union in the 1980s, Russia cannot afford a cold war," they said.


It said while other top emerging markets were taking measures to reform, "Russia is in effect ejecting itself from the BRICS."


- No appetite for sanctions -


Taken aback by the swiftness of Putin's reaction to Ukraine's turmoil, the West is planning retaliation but the Kremlin chief may be calculating that the bark is worse than the bite.


The EU is beset by divisions, with nations like Germany, Netherlands and Italy -- which have the most economic interests in Russia -- said to be opposing the toughest action. Former Soviet states like Lithuania are much more hawkish.


Vladimir Putin (centre) signs a wagon as he visits the Tikhvin Carriage Works in Leningrad region on...

Alexey Nikolsky, RIA NOVOSTI/AFP


Vladimir Putin (centre) signs a wagon as he visits the Tikhvin Carriage Works in Leningrad region on January 30, 2012



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Europe imports one third of its gas from Russia and Moscow needs the hard currency from the energy sales for its own budget so sheer self-interest could block the most extreme scenarios.


But Russia's gas champion Gazprom upped the stakes in Friday by threating Ukraine with a repeat of the 2009 crisis over unpaid gas debts which saw much of Europe deprived of Russian gas supplies.


"Russia's bet on using the gas weapon is working," said daily business newspaper Vedomosti.


Analysts at Citi said: "Despite sharp criticism of the Russian move, there is clearly no appetite in Europe or the US for either a military confrontation with Moscow or meaningful economic sanctions."


- Europe to reduce dependence -


The risk for Russia, at least on the currency markets, is cushioned by the fact the central bank still has immense forex reserves -- which stood at $493.4 billion on February 21.


The Russian central bank is run by Elvira Nabiullina, a former economy minister who commands respect in the markets.


The same could not be said however of Kremlin economic aide Sergei Glazyev whose apocalyptic view of global economics as a fight to the death between Russia and the West causes alarm.


He blithely warned this week that Russia would "reduce to zero" its economic dependence on the United States and emerge the stronger for it.


But the Vedomosti warned that the crisis would only make Europe more determined to look for other sources of gas, especially with the United States thinking of exporting LNG for the first time.


"In the mid-term it is going to be a task for Europe to reduce its dependence on Russian gas," it said. "But for now it has nothing to replace Gazprom with."


hollywoodtone.blogspot.com Putin takes economic gamble with Crimea swoop

Unilever buys majority share in China water business hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Unilever buys majority share in China water business

Dutch food and cosmetics giant Unilever said on Sunday it has bought a majority stake in Chinese water purification company Qinyuan in its biggest investment in the country in a decade.


"We are delighted to be making this strategic investment –- a majority stake in Qinyuan -– our biggest acquisition in China for more than 10 years," Unilever chief executive Paul Polman said in a statement.


Rotterdam-based Unilever, which last year clocked up a net profit of 4.84 billion euros ($6.56 billion), declined to put an amount on the deal or disclose the size of its stake.


Qinyuan last year made almost 140 million euros in sales in China's rapidly-expanding water purification market, which has grown more than 20 percent a year over the last three years, Unilever said.


"This deal will more than double the size of our water purification business and will bring together complementary technology... all under the Unilever umbrella," Polman said.


Founded in 1930, Unilever employs some 174,000 people worldwide and has some of the world's best-known brands like Knorr, Omo, Lipton and Magnum ice cream in its portfolio.


Qinyuan is a high-tech company that makes water purifiers, drinking water equipment and water treating membranes and has around 2,500 employees. It was founded in 1998.


hollywoodtone.blogspot.com Unilever buys majority share in China water business

Bank of England to hold independent inquiry into FX fixing claims: report hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Bank of England to hold independent inquiry into FX fixing claims: report

LONDON (Reuters) - The Bank of England may appoint a judge, academic or senior financial industry executive to run an independent inquiry into its actions in relation to allegations it allowed manipulation of the foreign exchange market, the Sunday Telegraph reported.


The newspaper, citing unnamed sources, said the "heavyweight figure" will examine the central bank's actions in relation to the allegations and how it handled them.


The bank has already appointed the law firm Travers Smith to prepare a report on the affair which will be made public.


However, the Sunday Telegraph said Travers Smith is on a fact finding exercise rather than an inquiry.


The Bank of England has suspended an employee as part of an internal probe into what Bank officials knew about alleged manipulation of key currency rates by traders.


The BoE also released on Wednesday minutes of meetings between its FX officials and chief dealers in London stretching back over several years that showed concerns over possible manipulation were raised as far back as 2006.


Regulators have said the alleged manipulation of the $5.3 trillion-a-day market - the world's largest financial market - is as bad as the Libor interest rate rigging which has resulted in banks shelling out $6 billion in fines and settlements.


(Reporting by Chris Vellacott, editing by Louise Heavens)


hollywoodtone.blogspot.com Bank of England to hold independent inquiry into FX fixing claims: report

Bouygues to sell network to Iliad if SFR bid accepted hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Bouygues to sell network to Iliad if SFR bid accepted

PARIS (Reuters) - France's Bouygues Telecom <BOUY.PA> has agreed to sell its mobile network and much of its spectrum to smaller rival Iliad <ILD.PA> if its pending bid for Vivendi's <VIV.PA> SFR is successful.


Iliad will pay up to 1.8 billion euros ($2.50 billion) for the Bouygues assets, according to both companies' statements.


"This agreement allows us to present to the (French) antitrust authorities a merger proposal that ensures strong competition on the French mobile market," Bouygues Chief Executive Martin Bouygues said. ($1 = 0.7214 Euros)


(Reporting by Leila Abboud and Gwenaelle Barzic; Editing by Lionel Laurent)


hollywoodtone.blogspot.com Bouygues to sell network to Iliad if SFR bid accepted

Philippines says has 'right' to defend its territory like China hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Philippines says has 'right' to defend its territory like China

The Philippines also has the right to defend every inch of its territory, President Benigno Aquino's spokesman said on Sunday, after China made a similar warning.


Spokesman Herminio Coloma's remarks came after China's foreign minister Wang Yi said on Saturday said his country would vigorously defend its sovereignty against "unreasonable demands from smaller countries".


Although he was referring to Japan, which has its own territorial dispute with China, his remarks could also cover China's other territorial dispute with the Philippines and other countries over parts of the South China Sea.


"It is the right of every country to defend its national territory. That is also the principle we are following," Coloma told reporters, commenting on the Chinese minister's remarks.


Coloma added that the Philippines was basing its position on the principles of international law like the United Nations Convention on the Law of the Sea or UNCLOS.


The Philippines and China, along with Brunei, Malaysia, Taiwan and Vietnam are all claimants to parts of the South China Sea, a major sea lane and rich fishing ground which is believed to sit on vast mineral deposits.


The Philippines has also expressed growing concern at the increased aggressiveness of the Chinese in pressing their claim to almost all of the waters, even up to the coasts of its neighbours.


The Philippine government has sought UN arbitration under UNCLOS to settle the dispute but China has rejected the move.


Last month the Philippines lodged a protest after the Chinese coastguard allegedly attacked Filipino fishermen off a disputed South China Sea shoal with water cannon on January 27. Beijing rejected the protest.


hollywoodtone.blogspot.com Philippines says has 'right' to defend its territory like China

Water filter made from sapwood provides amazing low-tech solution hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Water filter made from sapwood provides amazing low-tech solution
Run out of drinking water during a lakeside camping trip? The simply break off a branch from a pine tree, peel away the bark, and slowly pour lake water through the stick.

That’s the solution according to a research team at MIT. The scientists are of the view that their improvised filter should trap any bacteria, producing fresh, uncontaminated water. It can also produce enough water for one person a day: scientists have discovered that this low-tech filtration system can produce up to four liters of drinking water a day. The researchers say this is because the size of the pores in sapwood -- which contains xylem tissue evolved to transport sap up the length of a tree -- also allows water through while blocking most types of bacteria. Xylem is a porous tissue that conducts sap from a tree's roots to its crown through a system of vessels and pores. Each vessel wall is pockmarked with tiny pores called pit membranes, through which sap can essentially hopscotch, flowing from one vessel to another as it feeds structures along a tree's length. To study sapwood's water-filtering potential, the researchers collected branches of white pine and stripped off the outer bark. Before experimenting with contaminated water, the group used water mixed with red ink particles ranging from 70 to 500 nanometers in size. After all the liquid passed through, the researchers sliced the sapwood in half lengthwise, and observed that much of the red dye was contained within the very top layers of the wood, while the filtrate, or filtered water, was clear. This experiment showed that sapwood is naturally able to filter out particles bigger than about 70 nanometers. Next the team flowed inactivated, E. coli-contaminated water through the wood filter. When they examined the xylem under a fluorescent microscope, they saw that bacteria had accumulated around pit membranes in the first few millimeters of the wood. Counting the bacterial cells in the filtered water, the researchers found that the sapwood was able to filter out more than 99 percent of E. coli from water. The findings might also have an industrial application for sapwood provides a promising, low-cost, and efficient material for water filtration. The researchers have published their novel findings in the journal PLoS ONE, in a paper titled “Water Filtration Using Plant Xylem”.

hollywoodtone.blogspot.com Water filter made from sapwood provides amazing low-tech solution

Strawberries lower cholesterol hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Strawberries lower cholesterol
Previous studies have demonstrated the antioxidant capacity of strawberries. Now researchers have revealed that these fruits also help to reduce cholesterol.

Researchers have carried out analysis that reveals that strawberries help to reduce cholesterol. Although the results were interesting, there is still no direct evidence about which compounds of this fruit are behind their beneficial effects. What is known that the berries seem to work. For the study a team of volunteers ate half a kilo of strawberries a day for a month to see whether it altered their blood parameters in any way. At the end of this unusual treatment, their levels of bad cholesterol and triglycerides were significantly reduced. To measure the effect of the strawberries, the researchers took blood samples before and after this period to compare data. The results showed that levels of low-density lipoproteins (LDL or bad cholesterol) and the quantity of triglycerides fell to 8.78%, 13.72% and 20.8% respectively. The high-density lipoprotein (HDL or good cholesterol) remained unchanged. The findings add to research that has shown that blueberries and strawberries contain high levels of plant compounds known as flavonoids. Dietary flavonoids can potentially expand blood vessels thus countering the build-up of plague which creates a blockade in the coronary arteries. Eventually this may lead to heart attacks. The reason for the apparent protective effects of these fruits is due to strawberries containing high levels of naturally occurring compounds called dietary flavonoids. Flavonoids are known for their antioxidant activity. A specific type of flavonoids, called anthocyanins, found in these fruits, may help dilate arteries, counter the build-up of plaque and provide cardiovascular benefits. The research was carried out by the Università Politecnica delle Marche (UNIVPM, Italy), together with colleagues from the Universities of Salamanca, Granada and Seville (Spain). The findings have been published in the Journal of Nutritional Biochemistry, in a paper titled “One-month strawberry-rich anthocyanin supplementation ameliorates cardiovascular risk, oxidative stress markers and platelet activation in humans”.

hollywoodtone.blogspot.com Strawberries lower cholesterol

America's natural gas boom could curb the Russian stranglehold hollywoodtone.blogspot.com

hollywoodtone.blogspot.com America's natural gas boom could curb the Russian stranglehold
The crisis in Crimea is handing a powerful set of cards on the table, heralding a new diplomatic strategy for Washington.

It comes in the form of a vast new supply of natural gas that the Obama administration could use to undermine the stranglehold Russia has over Ukraine and Europe. Russia currently supplies 60 percent of Ukraine's natural gas and has a reputation for cutting off supplies the moment any spat or conflict takes place. Gazprom is the Russian state-run company providing natural gas pipelines throughout Ukraine and western Europe. It has already stopped the discount rate it charged Ukraine before the Crimean crisis began and the EU should be wary of the situation as 66 percent of all Russian gas the continent uses passes through Ukrainian territory. The U.S. is currently advocating the idea of more gas being put onto the market to undercut the current stranglehold Moscow has. Since Russia moved into the Crimea, politicians in the United States, particularly congressional Republicans, have attempted to loosen export restrictions on US natural gas in the hope that Russia's ability to use natural gas supply as an ace card can be somehow circumvented, reports New York Times. Russia is the world’s biggest exporter of natural gas, but recently the United States eclipsed Moscow to become the world’s largest natural gas producer, predominantly because of breakthroughs in hydraulic fracturing technology, that's fracking to you and me.

hollywoodtone.blogspot.com America's natural gas boom could curb the Russian stranglehold

Anti-nuclear rally in Tokyo draws tens of thousands hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Anti-nuclear rally in Tokyo draws tens of thousands

Tens of thousands of citizens turned out for an anti-nuclear rally in Tokyo on Sunday, as the nation prepares to mark the third anniversary of the Fukushima disaster.


Demonstrators congregated at Hibiya Park, close to central government buildings, before marching around the national parliament.


They gathered to voice their anger at the nuclear industry and the government of Prime Minister Shinzo Abe, who has called for resumption of nuclear reactors to power the world's third largest economy.


"I felt it's important that we continue to raise our voice whenever possible," said Yasuro Kawai, a 66-year-old businessman from Chiba prefecture, east of Tokyo.


"Today, there is no electricity flowing in Japan that is made at nuclear plants. If we continue this zero nuclear status and if we make efforts to promote renewable energy and invest in energy saving technology, I think it's possible to live without nuclear," Kawai said.


A woman holds a placard in front of the National Diet in Tokyo on March 9 2014 as she takes part in...

Toru Yamanaka, AFP


A woman holds a placard in front of the National Diet in Tokyo on March 9, 2014 as she takes part in a rally denouncing nuclear power plants



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This week, Japan will mark the anniversary of the deadly 9.0-magnitude earthquake that hit the northern region on March 11, 2011, that prompted killer tsunami that swept the northern Pacific coastline.


The natural disasters killed 15,884 people and left 2,636 people still unaccounted for.


Huge waves swamped cooling systems of the Fukushima plant, which went through reactor meltdowns and explosions that spewed radioactive materials to the vast farm region.


The plant remains volatile and engineers say it will take four decades to dismantle the crippled reactors.


Protesters in Tokyo stressed that Japan can live without nuclear power as it has done so for many months while all of the nation's 50 commercial nuclear reactors have remained offline due to tense public opposition to restarting them.


People display mock drums of nuclear waste in Tokyo on March 9 2014 during a march denouncing nucle...

Toru Yamanaka, AFP


People display mock drums of nuclear waste in Tokyo on March 9, 2014 during a march denouncing nuclear power plants



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In a light-hearted approach to get their message heard, musicians performed using electricity generated by huge solar panels at the park, while dozens of merchants promoted products made in the tsunami-hit region.


The rally featured stars like composer Ryuichi Sakamoto, who played music he created three years ago to mourn for the victims of the disasters.


Although no one died as a direct result of the atomic accident, at least 1,656 Fukushima residents died due to complications related to stress and other conditions while their lives in evacuation become extended.


"The Fukushima accident continues today," Sakamoto told the audience.


Tokyo resident Michiko Sasaki, 80, said Japan's national priority should be to think about how to end nuclear power and to rebuild the northern region hit buy the disaster.


"In this small nation of ours, there are so many nuclear plants. We are prone to earthquakes," she added.


"Unless we end it now, what will happen in the future? Politicians must think about children of the future," she said.


hollywoodtone.blogspot.com Anti-nuclear rally in Tokyo draws tens of thousands

Skin cells transformed into functioning liver cells hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Skin cells transformed into functioning liver cells
San Francisco - Scientists have discovered a way to transform skin cells into mature, fully functioning liver cells that flourish on their own, even after being transplanted into laboratory animals modified to mimic liver failure.

The new study has used stem cells and has engineered a way to re-program them. This has allowed the scientists to generate a large reservoir of cells that could more readily be coaxed into becoming liver cells. The methods used a special set of identified genes. Stem cells are biological cells found in all multicellular organisms. The cells can differentiate into diverse specialized cell types and can self-renew to produce more stem cells. In mammals, there are two broad types of stem cells: embryonic stem cells and adult stem cells, which are found in various tissues. Quite soon into the process the cells began to take on the shape of liver cells, and even started to perform regular liver-cell functions. To show that the cells really work, the researchers transplanted these early-stage liver cells into the livers of mice. Over a period of nine months, the team monitored cell function and growth by measuring levels of liver-specific proteins and genes. Previous studies on liver-cell reprogramming, scientists had difficulty getting stem cell-derived liver cells to survive once being transplanted into existing liver tissue. However, the research team appear to have cracked this problem. The research was carried out at the Gladstone Institutes and the University of California, San Francisco (UCSF). The findings have been published in Nature, in a paper titled “Mouse liver repopulation with hepatocytes generated from human fibroblasts.”

hollywoodtone.blogspot.com Skin cells transformed into functioning liver cells

British govt 'won't block assisted suicide bill' hollywoodtone.blogspot.com

hollywoodtone.blogspot.com British govt 'won't block assisted suicide bill'

The British government will not stand in the way of legislation that would permit assisted suicide, the Ministry of Justice said Sunday as parliament prepares to examine a bill.


The governing coalition will not order its lawmakers to block the proposals and instead they will be given a free vote according to conscience, a spokesman said.


The draft legislation will come before parliament in the next four months, The Sunday Telegraph newspaper said.


It remains a criminal offence -- punishable by up to 14 years' imprisonment -- to help someone take their own life, under the 1961 Suicide Act.


Four years ago, the director of public prosecutions (DPP), who heads England's state prosecution service, issued guidelines which said anyone "acting out of compassion" while helping a loved one to die was unlikely to be charged.


Since then, around 90 such cases have been examined and no charges brought, The Sunday Telegraph said.


Prime Minister David Cameron of the centre-right Conservatives and Deputy PM Nick Clegg of the centrist Liberal Democrats have both in the past voiced opposition to amending the law.


But a Ministry of Justice spokesman said: "The government believes that any change to the law in this emotive and contentious area is an issue of individual conscience and a matter for parliament to decide rather than government policy."


Lord Charles Falconer of the opposition Labour Party is bringing his Assisted Dying Bill before parliament's upper House of Lords in the coming months.


It would allow doctors to prescribe a lethal dose of drugs to terminally ill patients who are judged to have less than six months to live.


If it passes an initial Lords vote, it will go to the elected lower House of Commons.


Falconer says the DPP guidelines encourage "amateur assistance only" and are driving people to clinics in Switzerland, where assisted dying is permitted.


Assisted suicide allows a doctor to provide a patient with all the necessary lethal substances to end their life, but lets them carry out the final act.


Euthanasia goes a step further, and allows doctors themselves to administer the lethal doses of medicine. This practice is legal in the Netherlands, Belgium and Luxembourg.


There have been several failed attempts in Britain to legislate on the controversial issue.


Betty Boothroyd, a former Commons speaker who now sits in the Lords, said Wednesday the current legal situation on assisted dying makes a "mockery" of English justice.


"The current law should be repealed to make way for a better one," she told the chamber.


"This is a moral issue whose time has come and parliament should resolve it."


hollywoodtone.blogspot.com British govt 'won't block assisted suicide bill'

Companies gear up for vote on Scottish independence hollywoodtone.blogspot.com

hollywoodtone.blogspot.com Companies gear up for vote on Scottish independence

Six months before Scotland votes in a referendum on whether to become independent from the rest of Britain, major companies are going public on their plans whatever the outcome.


Firms ranging from Royal Bank of Scotland to British Airways and Royal Dutch Shell are stating their positions ahead of Scotland voting on whether to end its 300-year-old union with England.


British PM David Cameron's Conservatives, their coalition partners the Liberal Democrats and the opposition Labour party have joined forces to campaign for a "no" vote.


But First Minister Alex Salmond's governing Scottish National Party is in the "yes" camp and wants Scotland's 5.3 million people to quit the UK.


Scotland has enjoyed increased autonomy since a 1997 referendum on devolution but the SNP now wants full independence.


Some companies have said they would be opposed to an independent Scotland, but the overriding sentiment is one of concern about the uncertainty.


Scotland's First Minister Alex Salmond and Deputy First Minister Nicola Sturgeon pose for pictu...

Andy Buchanan, AFP/File


Scotland's First Minister Alex Salmond and Deputy First Minister Nicola Sturgeon pose for picture during a press conference at Glasgow Science Centre on November 26, 2013



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"The referendum in September is creating uncertainty for our customers and our business, which we have a responsibility to address," said Katherine Garrett-Cox, chief executive of Scotland-based investment manager Alliance Trust.


"Regardless of the outcome, it is critical that we are able to provide continuity of service and protection for their investments and savings.


"To give them full confidence, we have started work to establish additional companies registered in England, in order to provide operational flexibility and to complement our existing business in Scotland."


Also last week, financial services group Standard Life warned that it may move some of its operations out of Scotland if it votes for independence.


- RBS predicts major impact -


RBS added that there would likely be a "significant impact" if Scotland chose to end its union with England, placing renewed pressure on Salmond ahead of the vote.


British Prime Minister David Cameron (centre) visits the BP ETAP (Eastern Area Trough Project) oil p...

Andy Buchanan, POOL/AFP


British Prime Minister David Cameron (centre) visits the BP ETAP (Eastern Area Trough Project) oil platform around 100 miles east of Aberdeen, Scotland on February 24, 2014



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A key issue in the debate is the currency of an independent Scotland, with Edinburgh saying it would keep the pound sterling but London saying that would not be possible.


"We have started work to establish additional registered companies to operate outside Scotland, into which we could transfer parts of our operations if it was necessary to do so," said Standard Life chief executive David Nish.


Nish said several key issues "remain uncertain" in case of independence, including the currency and the financial services regulations of an independent Scotland and its future within the European Union.


British state-rescued RBS said uncertainty over Scottish independence posed a financial risk.


"A vote in favour of Scottish independence would be likely to significantly impact the Group's credit ratings and could also impact the fiscal, monetary, legal and regulatory landscape to which the Group is subject," it said.


"Were Scotland to become independent, it may also affect Scotland’s status in the EU."


- Shell, BA at odds -


Former cycling champion Sir Chris Hoy carries the baton on the Mall in London on October 9 2013 be...

Leon Neal, AFP


Former cycling champion Sir Chris Hoy carries the baton on the Mall in London, on October 9, 2013 before the launch of the baton relay for the Commonwealth Games to be held in Glasgow, Scotland, this year



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While Standard Life's Nish said the company had a "long-standing policy of strict political neutrality", the chief executive of oil giant Royal Dutch Shell dealt a blow to the campaign for Scottish independence.


Ben van Beurden explained this week that independence would introduce greater uncertainty into the North Sea oil industry, a crucial source of income for Scotland and the Anglo-Dutch company.


For similar reasons, van Beurden said he wanted Britons to vote to stay in the European Union during a possible referendum on its membership in 2017.


"Shell has a long history of involvement in the North Sea -- and therefore in Scotland -- and we continue to invest more than a billion pounds ($1.67 billion, 1.21 billion euros) there every year," he said.


However, Willie Walsh, chief executive of British Airways owner IAG, has declared that a 'yes' vote could be a "positive development" and might lead to the Scottish government abolishing air passenger duty (APD).


Michael O'Leary, chief executive of Irish low-cost airline Ryanair, added he supported the abolition of APD to boost traffic and tourism, but has declined to enter the independence debate.


"Speaking as an Irishman, that's a matter for the Scottish people," he told the BBC.


"But certainly, if the air travel tax were repealed by the UK government or an independent Scottish government, you'd see visitors to Scotland double over a five- to 10-year period."


hollywoodtone.blogspot.com Companies gear up for vote on Scottish independence