BRICS insist economies still strong despite turbulence

Shinzo Abe the Chief Guest on Republic day Parade

26 01 2014

Posted on January 26, 2014 by sagarmedia

Shinzo Abe has arrived in India for a three day state visit.
He is chief Guest on Republic day Parade. Abe  attended celebrating India’s Republic Day on Sunday as the first Japanese prime minister to do so, and view a parade with the Indian prime minister.
Abe did  met Indian Prime Minister Manmohan Singh on Saturday to discuss strengthening bilateral cooperation in the economic and security fields.Abe has confirm that the two countries will speed up a joint survey for a planned high-speed railway network in western India.
Furthermore, He hopes to ensure that the Indians build the network using Japanese bullet-train technology. Leaders of India and Japan  to discuss plans for Japan’s Maritime Self-Defense Force and the Indian Navy to hold their 3rd joint exercise in waters near Japan. Abe promise two billion dollars in loans to build a subway line and other projects.
On backdrop of Abe visit, Gautam Bambawale, head of the Indian Foreign Ministry’s East Asian affairs bureau, held a news conference on Thursday. The briefing came two days before Japanese Prime Minister Shinzo Abe is due to visit India. Abe will be the first Japanese prime minister invited as a guest of honor to India’s Republic Day ceremony. The festivities are set for Sunday. He is scheduled to review a military parade.
Bambawale noted that India’s invitation to Abe symbolizes the two nations’ strengthening security ties.
Japanese Defense Minister Itsunori Onodera went to India earlier this month. He and Indian Defense Minister A. K. Antony agreed that both nations will further cooperate on security.
Focus is on whether Abe will discuss specific security matters in his meeting with Indian Prime Minister Manmohan Singh. Bambawale also noted that India will ask Japan to sign a nuclear deal at an early date. The accord would enable Japan to export nuclear-related technology to India.
Before departing, Abe told reporters that when he became prime minister for the first time 7 years ago, he said the Japan-India relationship holds great potential.Abe also said he hopes to further deepen bilateral ties through this visit. While in India, Abe will assist a delegation of Japanese business leaders in getting more opportunities in the growing Indian market.

Iranian diplomat found beheaded in Yemen

26 01 2014

 

A beheaded body, believed to belong to the Iranian diplomat, Nour-Ahmad Nikbakht, was found on Saturday in central Yemen. A regional administration official said, “the body was half-buried in a desert area in Eastern Marib”, and was taken for autopsy. An Iranian embassy staff member, Mr. Nikbakht, was kidnapped in Safr street in the capital Sana’a in July, 2013. It is not known who abducted him and no demands were made.

RBI to withdraw all pre-2005 currency notes

26 01 2014

 

January 26, 2014 

Updated on : 24-01-2014 03:27 PM

In a move apparently aimed at curbing black money and fake currencies, the Reserve Bank has decided to withdraw all currency notes issued prior to 2005, including Rs 500 and Rs 1,000 denominations, after 31st March.

“After March 31, 2014, it (RBI) will completely withdraw from circulation all bank notes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes,” the RBI said in a statement. The public can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side. The year of printing in a small font is visible at the middle of the bottom row in notes issued after 2005. Asking people not to panic and cooperate in the withdrawal process, the Reserve Bank of India (RBI) said old notes will continue to be legal and can be exchanged in any bank after 1st April. “From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication,” the RBI said. From 1st July 2014, persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes will have to furnish proof of identity and residence to the bank. Although the RBI did not give any reason for withdrawal of pre-2005 currency notes, the move is expected to unearth black money held in cash. As the new currency notes have added security features, they would help in curbing the menace of fake currency. At present, currency notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 are issued. The central bank had earlier discontinued printing of Rs 5 note, but reintroduced this denomination later to meet demand. Earlier, the RBI had withdrawn a certain series of currency notes at bank level but bearers were not asked to get them replaced. As per the RBI data, 7,351 crore pieces of currency notes were in circulation as on 31st March 2013. Of this, 14.6 per cent was Rs 500 notes and 5.9 per cent Rs 1,000 notes.

BRICS insist economies still strong despite turbulence

 

Updated on : 24-01-2014 12:44 AM Ministers from the BRICS economies defended their growth prospects on Thursday despite waves of turbulence caused by the tightening of monetary stimulus in the US and concerns about a potential cash crunch in China. “I still believe that the BRICS will continue to lead the global economy,” said Guido Mantega, the Brazilian finance minister, while discussing the state of the world’s emerging powerhouses at the Davos World Economic Forum. BRICS is the acronym used to group the emerging players Brazil, Russia, India, China and South Africa. Their economies were thrown into disarray last May when the US Federal Reserve warned it may turn off the taps of easy money that had shifted foreign investment to the developing world in search for better returns. Talk in Washington of stimulus “tapering” moved investment back to the richer countries, sending currencies plummeting in most BRICS economies and sparking talk that the emerging world may have replaced the eurozone as the world’s biggest headache. But South Africa’s Finance Minister Pravin Gordhan said that though “there are going to be some shifts” due to tapering, hopefully those shifts were not going to be shocks. And after last year’s scare, governments had this time prepared the ground to anticipate the slowing of easy cash, he added. Rather than a change in monetary policy, Russia’s Deputy Prime Minister Arkady Dvorkovich said the eurozone, Russia’s biggest trading partner, remained the big problem as it continued to grow far too slowly. “The business environment isn’t good enough in both Russia and the world,” he said. “If Europe is almost in recession and China is slowing down a little bit, it’s natural we will slow down a little bit,” he said. Liu Mingkang, a former Chinese central bank deputy governor, said a slowdown in China and fears of financial shocks there should not be underestimated. “The growth pace is slowing down, that’s the fact,” he said, noting that growth rates had gone from double digits only a few years ago, to this year’s expected 7.7 per cent. But Liu explained that China was changing its export-driven growth model to a demand-based one and these lower growth figures should be expected from now on.

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26 01 2014

Bring Ukraine into the EU: Yatsenyuk

By sagarmedia on January 26, 2014 | Edit

Ukrainian opposition urges snap elections, continues protests despite PM position offer.
Ukraine Opposition leaders called for an early presidential election following a Saturday meeting with the government, where top government posts were offered to protest leaders and a review of the constitution was promised.
Ukrainian Democratic Alliance for Reform party, Vitaly Klitschko, said that Yanukovich agreed to many demands. “But we do not step back and demand elections this year,” he told protesters.
“What is Yanukovich ready for? For release and amnesty of all those detained. To work on getting back to the constitution of 2004. Dismissal of government on certain conditions. [He] still does not agree to abolish dictatorial laws, but only to amend them,” Klitschko added.
“Our demands: get rid of those laws…have presidential elections this year. Negotiations are continuing and we must hold on. And we will not succumb to any provocations.”
Leader of the nationalist Svoboda opposition party, Oleg Tyagnibok, told protesters that those in power are backing down and changing their tune from two days ago.
The government’s negotiations with the opposition have so far yielded no results, which could signal that the standoff between the two sides will continue for the next couple of days.
The proposal to offer positions within the Ukrainian government to opposition leaders will be considered by all three parties and discussed with the people, Batkivschina leader Arseny Yatsenyuk said.
“We are not rejecting the offer, nor are we accepting it. We are in the midst of serious consultations between all three opposition parties. This is our mutual decision,” he said. “We are ready to take on the responsibility for the country’s future, but only under the conditions that will be set by us.” The opposition is ready to head up the government and bring Ukraine into the EU, Yatsenyuk added.
“Our task – is a new Ukrainian government … We accept that responsibility and we are ready to bring Ukraine into the EU, which calls for the release of Yulia Tymoshenko,” he continued.
“Our country is put by those at power to the brink of falling apart…We demand that Yanukovich relieves the position of Ukraine’s president and we need a new constitution.”
Media agencies

WTO should capitalise on success of Bali meeting: India   Updated on : 24-01-2014 08:25 PM India wants the WTO to capitalise on the success of the ministerial meeting in Bali and move ahead with the Doha development agenda for a global trade deal. The issues were discussed during the meeting of Commerce and Industry Minister Anand Sharma and WTO Director General Roberto Azevedo on the sidelines of World Economic Forum Annual meeting in Davos on Friday. Both the leaders took stock of the progress of post-Bali programme of WTO negotiations. “We must capitalise on the momentum gained in Bali and push ahead with the work programmes that we agreed to establish on the Doha Development Agenda and food security,” Sharma said. Overcoming a string of failures over the years, the WTO reached a landmark agreement in the Bali meeting in December last year that can help boost global trade by USD 1 trillion, while taking on board concerns of countries like India to protect its food security scheme providing subsidised grains to the poor. Congratulating WTO’s chief on the Bali success, Sharma said that all the members worked together, showed flexibilities where required and demonstrated the willingness to work for the greater good of the multilateral trading system. Azevedo is coming to India next week to address a session on trade in Bengaluru. He will also have discussions with Sharma and senior officials in the capital city of Karnataka. Although the WTO succeeded on a few issues in the Bali meeting last year, the Doha Round of negotiations launched in 2001 have remained virtually stalled due to differences between the rich and the developing nations mainly on the level of protection for farmers in developing countries.

Nation celebrates its 65th republic day

26 01 2014

The nation is celebrating its 65th Republic Day on Sunday with a grand show of country’s military might and its rich and unique cultural diversities and achievements in diverse fields at the historic Rajpath.The country is showing its state-of-the-art Defence platforms, the military prowess, its rich and unique cultural diversities and achievements in diverse fields.
Japan Prime Minister Shinzo Abe is the chief guest of this year’s parade.
The parade is being commanded by Lt General Subroto Mitra, General Officer Commanding, Delhi Area, Major General Rajbir Singh, Chief of Staff, Delhi Area is the parade Second-in-Command.
The country’s first indigenous designed and developed Light Combat Aircraft Tejas, which is a 4+ generation, supersonic, highly maneuverable, multi-role, smallest and lightest in its class contemporary combat aircraft, is the main attraction of the parade.
It has been designed developed by DRDO for the Indian Air Force. It also is considered a ‘game changer’ for India’s air defence preparedness.
The Main Battle Tank (MBT Arjun) MK-II, the first indigenously designed and developed tank and fondly called a Desert Ferrari for its excellent mobility is also also being displayed.
The recently inducted transport aircraft into the Indian Air Force, C-130J Super Hercules which is optimised for undertaking special operations and the gigantic C-17 Globemaster which is a heavy lift, long-range aircraft are also added attractions.
The DRDO is also displaying the ‘Astra’ and ‘Helina’ Missiles and a tableau on unmanned systems comprising ‘DAKSH’ – a Remotely Operated Vehicle, models of Autonomous Underwater Vehicle, mini UAV-’NETRA’ Wheeled Surveillance Vehicle, Tracked Surveillance Vehicle Muntra S, Unmanned Aerial Vehicle- ‘NISHANT’, Mini Remotely Operated Vehicle, Confined Space Remotely Operated Vehicle and Gun Mounted Remotely Operated Vehicle.
The weaponry put on display by the Indian Army includes tank T-90 ‘Bheeshma’, ICV BMP-2 (Sarath), TK-T-72 Full Width Mine Plough, PMS Bridging System, OSA-AK Weapon System, Smerch – Multi-launcher Rocket System, BrahMos Weapon System and Transportable Satellite Terminals (TST).
The Army’s Mechanised Columns will conclude with a flypast by the Advanced Light Helicopters ‘Dhruv’ of the Army Aviation Corps.
Indian Air Force is parading its tableau with the theme ‘Transformation of Indian Air Force.’ It represents the IAF multi-faceted transformation over the past eight decades highlighting the full spectrum capability of the Air Force.
The front trailer shows a Hawai Sepoy to the present day Air Warrior emphasizing the IAF’s credo of People First Mission Always.
The quantum leap in training aircraft is depicted from the early trainer Tiger Moth to the latest Pilatus PC-7 aircraft that is building the critical human potential of Indian Air Force on Sunday.
The second exhibit depicts the transformation in the fighter fleet from a Wapiti biplane to state-of-the-art, air dominance fighter Sukhoi-30 MKI that can undertake full spectrum operations.
Similar transformation in the transport fleet of the IAF is shown from the Dakota DC-3 to the C-17 Globe Master that has enhanced IAF’s strategic reach.
The Indian Navy’s tableau depicts a scaled down model of a submarine, one of the most potent and deadly military platforms in the arsenal of the Navy.
Over the years, the submarine operations have grown in scope and complexity and on Sunday the Indian Navy operates nuclear powered submarines which have greater punch and reach and can operate underwater for longer durations.

On this Republic day Tennis star Leander Paes and badminton player-turned-coach Pullela Gopichand were on Saturday selected for the prestigious Padma Bhushan awards while cricketer Yuvraj Singh was among the seven sportsperson chosen for this year’s Padma Shri award.

Squash player Dipika Pallikal, former Indian women’s cricket captain Anjum Chopra, Sunil Dabas (Kabaddi), Love Raj Singh Dharmshaktu (Mountaineering), H Boniface Prabhu (Wheel Chair Tennis) and Mamta Sodha (Mountaineering) were the other sports persons, selected for this year’s Padma Shri awards.The Padma Bhushan, one of the highest civilian awards of the country, are given for distinguished service of high order and Padma Shri for distinguished service in any field. These awards are conferred by the President at a ceremonial function at the Rashtrapati Bhawan.
40-year-old Leander Paes, who had earlier being conferred Rajiv Gandhi Khel Ratna and Arjuna Awards, is the most successful tennis player of the country with 14 Grand Slam title — eight men’s doubles and six mixed doubles.
Last season when he won his 14th major at US Open, he became the oldest players to win a Grand Slam title.
Paes, hero of India’s numerous Davis Cup wins, also won India’s first Olympic medal in singles at the Atlanta Games in 1996, when he won a bronze.
With compatriot Mahesh Bhupathi, he ruled the tennis world in the late 90s. They became the world number one team before parting ways.
Gopichand, one of the finest badminton player to have emerged from the country, is the second renowned sports personality to have been conferred with the Padma Bhushan honour this year.
He was conferred the Arjuna Award in 1999, Khel Ratna in 2001, Padma Shri in 2005 and Dronacharya in 2009 in a glittering career both as a player and a coach.
Gopi, as he is fondly called in the badminton circle, is only the second shuttler from India after Prakash Padukone to have won the prestigious All England Badminton Championships in 2001.