TOKYO: The Bank of Japan on Tuesday lifted its growth forecast for the country's economy in the fiscal year starting in March, a glimmer of positive news as the country struggles to cement a recovery.
The BoJ said it now expected Japan's gross domestic product to expand by 2.3 percent in the year ended March 2014, up from an earlier 1.6 percent forecast.
Ahead of the sentencing, there was chaos outside the court as supporters of Chautala clashed with the police.
Slogan shouting supporters tried to break the barricades set up outside the court.
Police resorted to lathicharge to disperse the crowd, and also closed the main gates of the premises.
Several supporters kept on standing outside the court. All roads leading to the court complex were full of cars and SUVs of supporters and workers.
Other than the 55 accused, their counsel, prosecutors and the court staff, the judge has not allowed anyone else to enter the court room during the hearing.
Earlier, special CBI Judge Vinod Kumar concluded hearing the arguments on the quantum of sentence on Monday.
Meanwhile, 78-year-old Om Prakash Chautala, the chief of Indian National Lok Dal who was held as the "main conspirator" by the court, has urged that he be allowed two assistants in GB Pant Hospital, where he is currently admitted following complaints of chest pain.
The court has asked the superintendent of Tihar Jail to inform it whether Chautala was provided any such assistance while his stay in jail post-conviction.
The court had on January 16 held Om Prakash Chautala, Ajay Chautala and 53 others guilty of illegally recruiting 3,206 junior basic trained (JBT) teachers in the state in the year 2000.
They have all been held guilty of cheating, forgery, using fake documents as genuine, conspiracy under the IPC and for abusing their official position under the Prevention of Corruption Act.
(With inputs from PTI)
The siege by Islamic militants at a remote Sahara desert natural gas plant in Algeria this week signaled heightened dangers in the region for international oil companies, at a time when they have been expanding operations in Africa as one of the world's last energy frontiers. (See related story: "Pictures: Four New Offshore Drilling Frontiers.")
As BP, Norway's Statoil, Italy's Eni, and other companies evacuated personnel from Algeria, it was not immediately clear how widely the peril would spread in the wake of the hostage-taking at the sprawling In Amenas gas complex near the Libyan border.
Map by National Geographic
Algeria, the fourth-largest crude oil producer on the continent and a major exporter of natural gas and refined fuels, may not have been viewed as the most hospitable climate for foreign energy companies, but that was due to unfavorable financial terms, bureaucracy, and corruption. The energy facilities themselves appeared to be safe, with multiple layers of security provided both by the companies and by government forces, several experts said. (See related photos: "Oil States: Are They Stable? Why It Matters.")
"It is particularly striking not only because it hasn't happened before, but because it happened in Algeria, one of the stronger states in the region," says Hanan Amin-Salem, a senior manager at the industry consulting firm PFC Energy, who specializes in country risk. She noted that in the long civil war that gripped the country throughout the 1990s, there had never been an attack on Algeria's energy complex. But now, hazard has spread from weak surrounding states, as the assault on In Amenas was carried out in an apparent retaliation for a move by French forces against the Islamists who had taken over Timbuktu and other towns in neighboring Mali. (See related story: "Timbuktu Falls.")
"What you're really seeing is an intensification of the fundamental problem of weak states, and empowerment of heavily armed groups that are really well motivated and want to pursue a set of aims," said Amin-Salem. In PFC Energy's view, she says, risk has increased in Mauritania, Chad, and Niger—indeed, throughout Sahel, the belt that bisects North Africa, separating the Sahara in the north from the tropical forests further south.
On Thursday, the London-based corporate consulting firm Exclusive Analysis, which was recently acquired by the global consultancy IHS, sent an alert to clients warning that oil and gas facilities near the Libyan and Mauritanian borders and in Mauritania's Hodh Ech Chargui province were at "high risk" of attack by jihadis.
"A Hot Place to Drill"
The attack at In Amenas comes at a time of unprecedented growth for the oil industry in Africa. (See related gallery: "Pictures: The Year's Most Overlooked Energy Stories.") Forecasters expect that oil output throughout Africa will double by 2025, says Amy Myers Jaffe, executive director of the energy and sustainability program at the University of California, Davis, who has counted 20 rounds of bidding for new exploration at sites in Africa's six largest oil-producing states.
Oil and natural gas are a large part of the Algerian economy, accounting for 60 percent of government budget revenues, more than a third of GDP and more than 97 percent of its export earnings. But the nation's resources are seen as largely undeveloped, and Algeria has tried to attract new investment. Over the past year, the government has sought to reform the law to boost foreign companies' interests in their investments, although those efforts have foundered.
Technology has been one of the factors driving the opening up of Africa to deeper energy exploration. Offshore and deepwater drilling success in the Gulf of Mexico and Brazil led to prospecting now under way offshore in Ghana, Mozambique, and elsewhere. (See related story: "New Oil—And a Huge Challenge—for Ghana.") Jaffe says the Houston-based company Anadarko Petroleum has sought to transfer its success in "subsalt seismic" exploration technology, surveying reserves hidden beneath the hard salt layer at the bottom of the sea, to the equally challenging seismic exploration beneath the sands of the Sahara in Algeria, where it now has three oil and gas operations.
Africa also is seen as one of the few remaining oil-rich regions of the world where foreign oil companies can obtain production-sharing agreements with governments, contracts that allow them a share of the revenue from the barrels they produce, instead of more limited service contracts for work performed.
"You now have the technology to tap the resources more effectively, and the fiscal terms are going to be more attractive than elsewhere—you put these things together and it's been a hot place to drill," says Jaffe, who doesn't see the energy industry's interest in Africa waning, despite the increased terrorism risk. "What I think will happen in some of these countries is that the companies are going to reveal new securities systems and procedures they have to keep workers safe," she says. "I don't think they will abandon these countries."
This story is part of a special series that explores energy issues. For more, visit The Great Energy Challenge.
A presidential inauguration is a big, long event that lasts all day and into the night–and who has time to really watch it? People have jobs, ones that don’t let you off for a federal holiday.
Everyone (or, at least, some) will be talking about it, which means potential embarrassment for anyone who doesn’t know what happened. Thankfully, ABC employs news professionals stationed in Washington, D.C., to pay attention to these kinds of things and boil off some of the less noteworthy or interesting stuff, presenting you with short videos of everything that really mattered. Or at least the things a lot of people were talking about.
A full day of paying attention to President Obama’s second Inauguration leads one of those professionals to offer these 7 1/2 things:
1. Beyonce Sang the National Anthem
Boy, howdy! Did she ever? Beyonce has essentially become the Obama’s go-to female performer: She recorded a music video for Michelle Obama’s “Let’s Move” initiative in 2011, and she performed at the president’s last inauguration in 2009. Her velvety, soulful “Star Spangled Banner” is getting good reviews.
2. Kelly Clarkson Also Sang
Kelly Clarkson is not as “in” with the First Couple as Beyonce seems to be, but they let her sing “My Country ‘Tis of Thee,” and she did a pretty good job with it. This was kind of weird, though, because at one point she said she loved Ron Paul, although she later said she would vote for Obama.
3. Obama Talked About Gay Rights
This may not seem shocking since more than half the country, including President Obama, supports gay marriage. But the president made a point of mentioning gay rights during his speech, equating the struggles of the LGBT community with those of past civil rights movements, and in doing so made history.
He name-checked Stonewall, the New York City bar that was raided by police in 1969 sparking riots to protest the anti-gay crackdown. And he actually used the word “gay”: “Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law – for if we are truly created equal, then surely the love we commit to one another must be equal as well,” Obama said in his address.
Plenty of inaugural addresses have been chock full of rhetoric about freedom and equality, but in the last four years, the political culture surrounding gay rights has changed significantly, as more states legalized same-sex marriage and as broad swaths of the country got more comfortable with homosexuality in general. Obama’s “evolution” on gay marriage, and now his inaugural address, have helped signify that change.
4. Joe Biden Made Jokes and Shook Hands With People
Could we expect anything less?
Here’s how the Vice President toasting Sen. Chuck Schumer instead of President Obama at the big luncheon: ”I raise my glass to a man who never, never, never operates out of fear, only operates out of confidence, and a guy–I’m toasting you, Chuck.” Watch it:
And here he is, scurrying around and jovially shaking hands with people along the parade route:
5. Richard Blanco Read a Poem That Was Sort of Whitman-esque, But Not Entirely
Cuban-born Richard Blanco became America’s first openly gay, Latino Inauguration poet. He read a nine-stanza poem entitled “One Today,” which set a kind of unifying American tableau scene.
6. Obama and Michelle Walked Around Outside The Limo
President Obama walked part of the parade route, from the Capitol to the White House, with Michelle. They waved to people. It is not entirely abnormal for a president to do this at an inaugural parade. But they walked quite a ways.
7. John Boehner: ‘Godspeed’
The speaker of the House presented American flags to Obama and Biden, telling them: “To you gentlemen, I say congratulations and Godspeed.”
7 1/2. Sasha and Malia Were There.
Obama’s daughters, Sasha and Malia, were there. They didn’t really do much, but they did wear coats of different shades of purple that got a lot of attention on Twitter.
Reports of the daughters looking at smartphones and applying lip gloss highlighted their day. As did this .gif of Sasha yawning.
President Obama’s historic election in 2008 and his reelection last year proved decisively that race is no longer an insurmountable hurdle to high political office in the United States.
But the current pool of possible candidates suggests that the next black president will not be taking the oath of office anytime soon.
“In the shadow of Barack Obama, there’s not been a lot of growth,” Cornell Belcher, a pollster who was involved in the president’s 2008 campaign, said. “It is really hard for minorities to get elected at the statewide level, and before you start talking about president, frankly, you have to get elected to statewide office.”
The notion of a post-Obama reformation of black politics has not been borne out at the ballot box, as black politicians continue to struggle to win the statewide offices that are the traditional paths to the presidency.
While the election of the first black president marked a significant break from the country’s history of racial prejudice, race still matters: The vast majority of black elected officials are put into office by black voters. Even Obama needed large numbers of black and Latino votes to win, particularly last year, when a majority of whites voters voted for someone else.
Ashley Bell, a former county official in Georgia who switched from the Democratic to the Republican Party with an eye on a future run for statewide office, said that Obama “did convince a lot of young black politicians that they can aspire to crossover offices. We may not live in a post-racial America, but I think we do live in a new era of politics where, on either side of the aisle, everyone knows that a good political candidate is one with crossover appeal, be they white or black or Latino.”
While the country’s changing demographics will favor political leaders of color in the future, the current landscape remains challenging for minority candidates seeking statewide office, particularly governorships and U.S. Senate seats, the typical steppingstones to presidential bids.
Deval L. Patrick (D-Mass.) currently is the nation’s only black governor, and Tim Scott (R-S.C.) is the only black member of the Senate, having recently been appointed to fill a vacancy.
Patrick, 56, is often mentioned as a potential presidential candidate, but he has said he has no plans to run in 2016. No other black politicians’ names have come up on the short list of credible contenders for the next national election.
On the GOP side of the aisle, former secretary of state Condoleezza Rice has been mentioned as a possible candidate but has steadfastly denied any interest. Colin Powell, who preceded Rice as President George W. Bush’s secretary of state, was once a favored GOP prospect, but he also declined to run.
Most recently, Herman Cain, a black Georgia businessman, was briefly a hit among Republican grass-roots activists in the run-up to the primaries, but he dropped his candidacy after a woman revealed a longtime extramarital affair and other women accused him of sexual harassment.
SINGAPORE: A rare auction for a listed Singaporean company opened on Monday with Thai and Indonesian tycoons facing off to take over diversified conglomerate Fraser and Neave (F&N).
The auction was called by a stock-market watchdog to resolve a protracted battle for F&N after it sold off its most prized asset, Tiger Beer maker Asia Pacific Breweries, to Dutch giant Heineken in September.
At stake are F&N's property, beverages and publishing operations.
A spokesman for the Securities Industry Council (SIC), which called for the auction, said the process officially opened on Monday after Thai billionaire Charoen Sirivadhanabhakdi made a fresh pre-auction bid over the weekend.
Charoen's TCC Assets said Saturday it was increasing its offer for F&N shares it does not own from S$8.88 ($7.24) a share to S$9.55.
The total S$13.75 billion offer trumped the S$13.1 billion, or S$9.08 per share, bid tabled by property firm Overseas Union Enterprise (OUE) in mid-November, but it was still lower than F&N's closing price last week.
The stock surged 1.25 percent, or 12 cents, to S$9.70 by 0130 GMT on Monday.
The revised bid leaves "the Thais in the driving seat this morning", IG Markets said in a report.
"The drawn-out sparring match for the prized asset of Fraser & Neave has reached the final round with the Thais delivering what could be the knockout punch," the report added.
OUE is controlled by Indonesia's Lippo Group, whose founder is Indonesian tycoon Mochtar Riady. His son Stephen is OUE's executive chairman.
Under the auction rules set by SIC, a daily bidding process will take place starting Monday until one party gives up.
F&N shareholders had reacted coolly to the original bids after an adviser gave a much higher valuation than those tabled by TCC Assets and OUE.
- AFP/al
Yannick's mother and younger brother want to come to Patiala to see their recovering family member, but don't have money left to pay for travel expenses.
"My wife Jotisean and younger son Landri want to come here. They need $3000 for this. But since I am staying here after quitting my job last April, my wife and son don't have money to pay for their travel expenses," said Nestor, father of Yannick.
On April 22 last year, the 23-year-old BSc computer science student of a private university had gone to attend a party in Jalandhar when some unidentified persons attacked him, severely beat him up and threw him on roadside. Yannick was hit on the head and had slipped into coma and was taken to a hospital by some unidentified persons. Later, in view of his serious condition, he was referred to a private hospital in Patiala, where he remained in coma till the end of November. He regained consciousness in the last week of November.
Getting information about the serious condition of his son, Nestor reached Patiala on April 24 and since then, he has been staying here in a room in the hospital to take care of his son.
Nestor worked with an NGO in Burundi and had to quit his job as the condition of his son worsened.
The mother of Yannick had come to Patiala in August 2012 and stayed here for 20 days. In the absence of her husband and any other financial support from anyone, all the family burden has now fallen on her younger son Jotisean, who has been working in a private company.
"She has been calling me almost everyday to get the latest news about Yannick's health. Sometimes, she starts crying over phone. She stayed here for 20 days in last August, but Yannick did not open his eyes even for once. As he has now started opening eyes, she wants to see him," said Nestor, while sitting with his daughter Fiona, who had come to Patiala some days back.
"I am waiting for the day when my son will get well and I will be able to take him back to unite him with his mother and younger brother," said Nestor.
The siege by Islamic militants at a remote Sahara desert natural gas plant in Algeria this week signaled heightened dangers in the region for international oil companies, at a time when they have been expanding operations in Africa as one of the world's last energy frontiers. (See related story: "Pictures: Four New Offshore Drilling Frontiers.")
As BP, Norway's Statoil, Italy's Eni, and other companies evacuated personnel from Algeria, it was not immediately clear how widely the peril would spread in the wake of the hostage-taking at the sprawling In Amenas gas complex near the Libyan border.
Map by National Geographic
Algeria, the fourth-largest crude oil producer on the continent and a major exporter of natural gas and refined fuels, may not have been viewed as the most hospitable climate for foreign energy companies, but that was due to unfavorable financial terms, bureaucracy, and corruption. The energy facilities themselves appeared to be safe, with multiple layers of security provided both by the companies and by government forces, several experts said. (See related photos: "Oil States: Are They Stable? Why It Matters.")
"It is particularly striking not only because it hasn't happened before, but because it happened in Algeria, one of the stronger states in the region," says Hanan Amin-Salem, a senior manager at the industry consulting firm PFC Energy, who specializes in country risk. She noted that in the long civil war that gripped the country throughout the 1990s, there had never been an attack on Algeria's energy complex. But now, hazard has spread from weak surrounding states, as the assault on In Amenas was carried out in an apparent retaliation for a move by French forces against the Islamists who had taken over Timbuktu and other towns in neighboring Mali. (See related story: "Timbuktu Falls.")
"What you're really seeing is an intensification of the fundamental problem of weak states, and empowerment of heavily armed groups that are really well motivated and want to pursue a set of aims," said Amin-Salem. In PFC Energy's view, she says, risk has increased in Mauritania, Chad, and Niger—indeed, throughout Sahel, the belt that bisects North Africa, separating the Sahara in the north from the tropical forests further south.
On Thursday, the London-based corporate consulting firm Exclusive Analysis, which was recently acquired by the global consultancy IHS, sent an alert to clients warning that oil and gas facilities near the Libyan and Mauritanian borders and in Mauritania's Hodh Ech Chargui province were at "high risk" of attack by jihadis.
"A Hot Place to Drill"
The attack at In Amenas comes at a time of unprecedented growth for the oil industry in Africa. (See related gallery: "Pictures: The Year's Most Overlooked Energy Stories.") Forecasters expect that oil output throughout Africa will double by 2025, says Amy Myers Jaffe, executive director of the energy and sustainability program at the University of California, Davis, who has counted 20 rounds of bidding for new exploration at sites in Africa's six largest oil-producing states.
Oil and natural gas are a large part of the Algerian economy, accounting for 60 percent of government budget revenues, more than a third of GDP and more than 97 percent of its export earnings. But the nation's resources are seen as largely undeveloped, and Algeria has tried to attract new investment. Over the past year, the government has sought to reform the law to boost foreign companies' interests in their investments, although those efforts have foundered.
Technology has been one of the factors driving the opening up of Africa to deeper energy exploration. Offshore and deepwater drilling success in the Gulf of Mexico and Brazil led to prospecting now under way offshore in Ghana, Mozambique, and elsewhere. (See related story: "New Oil—And a Huge Challenge—for Ghana.") Jaffe says the Houston-based company Anadarko Petroleum has sought to transfer its success in "subsalt seismic" exploration technology, surveying reserves hidden beneath the hard salt layer at the bottom of the sea, to the equally challenging seismic exploration beneath the sands of the Sahara in Algeria, where it now has three oil and gas operations.
Africa also is seen as one of the few remaining oil-rich regions of the world where foreign oil companies can obtain production-sharing agreements with governments, contracts that allow them a share of the revenue from the barrels they produce, instead of more limited service contracts for work performed.
"You now have the technology to tap the resources more effectively, and the fiscal terms are going to be more attractive than elsewhere—you put these things together and it's been a hot place to drill," says Jaffe, who doesn't see the energy industry's interest in Africa waning, despite the increased terrorism risk. "What I think will happen in some of these countries is that the companies are going to reveal new securities systems and procedures they have to keep workers safe," she says. "I don't think they will abandon these countries."
This story is part of a special series that explores energy issues. For more, visit The Great Energy Challenge.
Jan 20, 2013 10:49pm
(Charles Dharapak/AP Photo)
President Obama used the first public remarks of his second term to address what he called the “most significant” event of this weekend: his wife’s much-talked-about new haircut.
“I love her bangs,” Obama told supporters at an inaugural reception at the National Building Museum. “She looks good. She always looks good.”
First lady Michelle Obama, wearing a black sequined cocktail dress and showcasing her new hairdo, also heaped compliments on her husband.
“Let me tell you, it has just been a true thrill to watch this handsome, charming individual grow into the man and the president that he is,” she said, as she reached out to playfully touch the president’s face, sparking laughter from the crowd.
Praising his compassion and courage, the first lady introduced the president as the “love of her life.”
Obama, who was sworn in for a second term in a small White House ceremony earlier today, kept his remarks short, noting he has another big speech to deliver Monday.
“There are a limited amount of good lines and you don’t want to use them all up tonight,” he joked.
Because the Constitutionally mandated date for the inauguration, Jan. 20, fell on a Sunday this year, the traditional, public ceremony was delayed until Monday.
Saving the best for his official inaugural address, the president instead dedicated the bulk of his remarks to thanking supporters for their hard work and dedication to getting him re-elected.
“You understood this was not just about a candidate; it was not just about Joe Biden or Barack Obama. This was about us, who we are as a nation, what values we cherish, how hard we’re willing to fight to make sure that those values live not just for today but for future generations,” he said.
“All of you here understood and were committed to the basic notion that when we put our shoulders to the wheel of history, it moves… It moves forward. And that’s part of what we celebrate when we come together for inauguration,” he said.
Vice President Biden was curt, avoiding confrontation when he sat down with the National Rifle Association and other gun rights advocates. He looked across the table in his ornate conference room and asked the NRA official if his group could back a ban on assault weapons.
“No,” was James J. Baker’s reply.
There was little discussion, no real debate over whether a 1990s ban had worked. The two men simply moved on. Biden, leading a task force to study gun violence, was certain of the course of action President Obama would end up taking, and Baker was just as certain that the NRA would work to stop it.
In the 33 days after the massacre at Sandy Hook Elementary School, gun control rocketed through what one administration official called “a time warp,” transforming from an issue that was politically off-limits to one at the top of Obama’s agenda.
At the center of the transformation was the Biden-led task force. It held 22 meetings, most of them in the same week and many stretching past two hours, Biden furiously scribbling notes in a black leather-bound spiral notebook. The group collected ideas from 229 organizations — or, as Biden put it in a speech last week, “reviewing just about every idea that had been written up only to gather dust on the shelf of some agency.”
The vice president personally placed phone calls, too, including a 45-minute chat one night with the parents of a student who died at Sandy Hook.
“It was like watching an entire term of Senate hearings compressed into a week,” said one administration official who, like others interviewed, spoke on the condition of anonymity to talk candidly. “He was gently interrogating witnesses, following up, finding common ground, finding discrepancies.”
The outcome was never in doubt, however. From the outset, Obama made clear he would champion universal background checks for all gun buyers and bans on assault weapons and high-capacity ammunition magazines.
“I feel like to a certain extent they were checking the box, to say we’ve met with all the stakeholders and now we’re going to do what we’re going to do,” Baker, the NRA lobbyist, said of the task force.
Biden’s task force was less about determining which of the big-ticket items to recommend — it recommended them all — and more about involving each interest group in a process that could build a diverse coalition to lobby Congress.
A strategy took shape to undercut the NRA by appealing to its membership base through more friendly groups, such as evangelical pastors and sportsmen’s associations.
The representative of the hunters group Ducks Unlimited, for instance, presented Biden with a wooden duck decoy. In that meeting, Biden conceded that any push for universal background checks could include exceptions for gun transfers between family members.
“He wasn’t challenging their positions,” said an official. “He was looking for space between their positions and where we are — space where things can happen.”
The task force also provided Biden with his latest prominent role on a high-profile issue. Biden looks to be at the center of every big policy push of the second term, from taxes and debt to the war in Afghanistan. His performance will affect not only his ambitions for a possible third run at the presidency, but also Obama’s legacy. On guns, an issue Biden knows well, he plans to go out on the hustings to rally public support.
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