FDI in retail to safeguard international market mafias' interest: BJP

ANI Dec 1, 2012, 03.28PM IST

NEW DELHI: India's main opposition Bharatiya Janata Party (BJP) today said retail reform is a step taken by the Congress led-federal government to safeguard the interests of the international market mafias at the cost of national interest.

BJP vice president Mukhtar Abbas Naqvi said on Saturday that voting inside the parliament would decide as to who is in favour of national interest and who is working for international interests.

"The government feels that their responsibility is to safeguard the interest of international market mafias instead of national interest and for saving the interest of international market mafias, the government is ready to compromise with national interests. Now, the parliament will decide as to who is in support of international market mafias and who are supporting national interests," said Naqvi.

The government's decision to allow foreign supermarket chains such as Wal-Mart had triggered protest not only from opposition parties but also from some of its allies.

BJP had sought debate on the issue of allowing Foreign Direct Investment (FDI) in the retail sector, under the rule that entails voting after discussions.

Meanwhile, Minister in the Prime Minister Office (PMO), V Narayanaswamy said the government would answer all the queries raised by the opposition parties in the parliament and will explain the benefits of allowing FDI in retail sector.

The lower house of parliament has set December 04 and 05 as the date to vote and debate on FDI. The dates for the upper house are yet to be decided.

Narayanaswamy said the government is confident of becoming victorious in the debate.

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Photos: Kilauea Lava Reaches the Sea

• 
  
  
  
  
  
  
  

  Into the Sea

  Photograph by Hugh Gentry, Reuters

  A spectacular natural phenomenon was on display early this week as lava from a vent in Hawaii's Kilauea volcano flowed into the ocean, sending up plumes of steam as it made contact with the waves.

  Though lava can still be viewed from Kalapana near the Big Island's Hawai'i Volcanoes National Park, ocean entry is no longer occurring, according to the National Park Service.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Sea of Fire

  
  Photograph by Hugh Gentry, Reuters
  

  The lava traveled 7 miles (11 kilometers) from Kilauea’s Pu'u O'o vent to the ocean. When lava reaches the water, it cools and hardens, forming a lava delta that can be dangerous to nearby onlookers, according to Reuters.

  The news service reported that no communities on the Big Island were threatened by the lava flow.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Volcanic Flare

  
  Photograph by Hugh Gentry, Reuters
  

  A burst of volcanic activity erupts from Kilauea’s crater in Hawai’i Volcanoes National Park on November 27.

  The volcano has been erupting continuously for nearly 30 years. No major damage has been suffered by a town since 1986, according to Reuters.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Fiery Encounter

  Photograph by Hugh Gentry, Reuters

  “Ocean entries are beautiful but dangerous,” said Janet Babb, spokeswoman for the U.S. Geological Survey's Hawaiian Volcano Observatory, in a statement reported by Reuters. She warned that the steam could be more hazardous than it appears.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Point of Contact

  
  Photograph by Matt Northam, My Shot
  

  A plume of smoke billows where lava from Kilauea meets the sea in this aerial photo taken November 27.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Photograph by Peter Vancoillie, Your Shot

  Published November 30, 2012

  
  

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Geithner on Fiscal Cliff: Ball Is in GOP's Court

Dec 2, 2012 9:00am

(ABC News)

With the fiscal cliff looming and no deal to resolve it in sight, Treasury Secretary Timothy Geithner expressed confidence that a compromise could be reached during my interview with him on “This Week,” but said the burden is now on Republicans to help find a solution to avoid a potential economic crisis.

(More from Sunday’s show HERE.)

“I actually think that we’re gonna get there. I mean, you know, just inevitably gonna be a little political theater in this context,” Geithner said, when asked whether Senate Minority Leader Mitch McConnell laughed after hearing President Obama’s plan to avert the fiscal cliff. ”Sometimes that’s a sign of progress. Think we’re actually making a little bit of progress, but we’re still some distance apart.”

Echoing widespread Republican rejection of the White House’s proposal last week, House Speaker John Boehner said after meeting with Geithner that ” the White House has to get serious.”

“And at this point though — you gotta recognize that they’re in a very difficult place. And they recognize they’re gonna have to move on a bunch of things.  But they don’t know really how to do it yet. And how to get support from the — from the members on the Republican side,” he said, adding later that the proverbial ball was “absolutely” in the GOP court. “And, you know, when they come back to us and say, ‘We’d like you to consider this.  And we’d like you to consider that,’ we’ll take a look at that.”

Geithner — who met with top GOP leaders this week to present the White House’s proposal to end the fiscal standoff — predicted support from “the business community” and “from the American people” for a deal approximating the one being offered, which reportedly includes tax hikes on the wealthy, cuts to Medicare and some stimulus spending.

However, if there is no agreement by the end of the year, the treasury secretary told me going over the cliff would be “very damaging.”

“Look, there’s a huge amount at stake here in this economy, George.  And there’s just no reason why 98 percent of Americans have to see their taxes go up because some members of Congress on the Republican side want to block tax rate increases for 2 percent of the wealthiest Americans.  Remember, those tax rates, those tax cuts, cost a trillion dollars over 10 years,” he said.

Geithner said the White House plan offered a “good mix” of increased taxes and spending cuts. He also added that Social Security reform would not be part of the discussion to resolve the fiscal cliff.

“We think we have a very good plan, a very good mix of tax reforms that raise a modest amount of revenue on the wealthiest 2 percent of Americans, combined with very comprehensive, very well designed, very detailed savings that get us back to the point where our debt is stable and sustainable,” he said. “We’re prepared to, in a separate process, look at how to strengthen Social Security.  But not as part of a process to reduce the other deficits the country faces,” he said.

Finally, with Geithner wrapping up his time in the president’s cabinet, I asked him if banking executive Jamie Dimon – who has  billionaire Warren Buffett’s endorsement — should be named the next treasury secretary, but Geithner declined to answer directly.

“George, the president’s gonna choose somebody very talented to lead the Treasury for his next four years.  And– I’m very fortunate I’ve been able to work with him to help solve these problems in the country over this period of time.  And I’m very confident he’s gonna have somebody in place– in January to succeed me,” he said.

SHOWS: This Week

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Sen. Ayotte offers GOP an influential new voice

The three Republican senators emerged grim-faced from a basement meeting room in the Capitol on Tuesday and took turns before a bank of televisions cameras, blasting away at the Obama administration for its handling of the deadly attack on an American outpost in Benghazi, Libya.

The first two were prominent national security heavyweights, Arizona’s John McCain and Lindsey O. Graham of South Carolina. Then the third senator, Kelly Ayotte of New Hampshire, stepped forward. A freshman in her second year and ranked 99th in seniority, Ayotte said she had not been swayed by the administration’s efforts to explain how and why U.N. Ambassador Susan Rice had initially suggested the attack was the result of a spontaneous street protest, instead of a coordinated terrorist attack.

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Rugby: England end All Blacks' unbeaten run

LONDON: England ended world champions New Zealand's 20-match unbeaten run with a stunning 38-21 victory at Twickenham on Saturday.

Tries from Brad Barritt, Chris Ashton and Manu Tuilagi helped England, who had been 15-0 up early in the second half, stave off an All Blacks fightback that saw the visitors close to within a point at 15-14.

This was England's record margin of victory over the All Blacks, surpassing a 13-0 success in 1936 and their record score against New Zealand, beating the 31 points they managed in a 31-28 win in 2002.

It was only England's seventh win in 35 Tests against New Zealand and their first since 2003.

Owen Farrell may have been a shock choice alongside New Zealand's Dan Carter as one of four nominees for the International Rugby Board player of the year award, but he outplayed his opposing fly-half in a first half that ended with England, against all pre-match predictions, 12-0 ahead.

In all, the 21-year-old kicked 17 points as England ended 2012 on a huge high and ensured New Zealand captain Richie McCaw's last match before a six-month break ended in defeat.

England made just one change from the starting side that lost 16-15 to South Africa at Twickenham last week, with Farrell in for the injured Toby Flood.

New Zealand made three changes from the team that beat Wales 33-10, with Carter in for Aaron Cruden, experienced hooker Keven Mealamu replacing the suspended Andrew Hore, banned for his punch on Welsh lock Bradley Davies, and Brodie Retallick preferred in the second row to Luke Romano.

England knocked New Zealand out of their stride, both in the forwards and the backs.

And when New Zealand had a chance to open the scoring in the 15th minute, the normally reliable Carter was off-target with a 39 metre penalty.

Soon afterwards England, from a scrum penalty, kicked into the New Zealand 22 to set up a series of attacking line-outs.

The ball was worked across field only for Ashton to drop a pass from full-back Alex Goode metres out from the New Zealand line.

But the All Blacks had infringed earlier in the move and Farrell kicked the resulting close-range penalty.

Minutes later, Carter, the Test rugby's all-time leading points scorer, missed his second penalty attempt when a 31 metre effort went wide.

In open play, England were forcing turnovers, as well as other All Blacks errors, and Farrell kicked a 40 metre penalty to put the hosts 6-0 ahead in the 32nd minute.

England then disrupted a New Zealand line-out and from the drive forward, Farrell dropped a goal.

And there as still for Farrell to extend England's lead to 12-0 with a 45 metre penalty.

England were 12-0 in front against a New Zealand side that had not lost since a 25-20 defeat by Australia in Brisbane in August 2011.

Early in the second half, England went further ahead when, after their pack had forced a New Zealand scrum collapse, Farrell made no mistake with a difficult, 41 metre, penalty from the right to leave his side 15-0 in front.

But after a break by New Zealand's Cory Jane set up a line-out deep in England's 22, the ball was worked across field and left wing Julian Savea, despite the presence of four England players, went in for the first try of the match. Carter converted and England's lead had been cut to 15-7.

And two minutes later, New Zealand crossed England's line again, thanks to good work by Jane and Conrad Smith to send Kieran Read for another converted try.

England were now just 15-14 up but they then stemmed the All Blacks recovery with three tries of their own in a dramatic 10-minute spell.

Good interplay between centres Brad Barritt and Manu Tuilagi saw South Africa-born Barritt cross in the 52nd minute.

Five minutes later, England won quick ball off a line-out and Tuilagi smashed his way past Carter before sending in Ashton.

Farrell missed both conversions but there was more to come for England when Tuilagi intercepted Read's pass and sprinted over for a try.

England replacement Freddie Burns kicked two penalties and although Savea scored his second try, it was too late for the All Blacks to salvage their proud unbeaten run.

- AFP/fa

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FDI in retail to safeguard international market mafias' interest: BJP

NEW DELHI: India's main opposition Bharatiya Janata Party (BJP) today said retail reform is a step taken by the Congress led-federal government to safeguard the interests of the international market mafias at the cost of national interest.

BJP vice president Mukhtar Abbas Naqvi said on Saturday that voting inside the parliament would decide as to who is in favour of national interest and who is working for international interests.

"The government feels that their responsibility is to safeguard the interest of international market mafias instead of national interest and for saving the interest of international market mafias, the government is ready to compromise with national interests. Now, the parliament will decide as to who is in support of international market mafias and who are supporting national interests," said Naqvi.

The government's decision to allow foreign supermarket chains such as Wal-Mart had triggered protest not only from opposition parties but also from some of its allies.

BJP had sought debate on the issue of allowing Foreign Direct Investment (FDI) in the retail sector, under the rule that entails voting after discussions.

Meanwhile, Minister in the Prime Minister Office (PMO), V Narayanaswamy said the government would answer all the queries raised by the opposition parties in the parliament and will explain the benefits of allowing FDI in retail sector.

The lower house of parliament has set December 04 and 05 as the date to vote and debate on FDI. The dates for the upper house are yet to be decided.

Narayanaswamy said the government is confident of becoming victorious in the debate.

Read More..

Photos: Kilauea Lava Reaches the Sea

• 
  
  
  
  
  
  
  

  Into the Sea

  Photograph by Hugh Gentry, Reuters

  A spectacular natural phenomenon was on display early this week as lava from a vent in Hawaii's Kilauea volcano flowed into the ocean, sending up plumes of steam as it made contact with the waves.

  Though lava can still be viewed from Kalapana near the Big Island's Hawai'i Volcanoes National Park, ocean entry is no longer occurring, according to the National Park Service.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Sea of Fire

  
  Photograph by Hugh Gentry, Reuters
  

  The lava traveled 7 miles (11 kilometers) from Kilauea’s Pu'u O'o vent to the ocean. When lava reaches the water, it cools and hardens, forming a lava delta that can be dangerous to nearby onlookers, according to Reuters.

  The news service reported that no communities on the Big Island were threatened by the lava flow.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Volcanic Flare

  
  Photograph by Hugh Gentry, Reuters
  

  A burst of volcanic activity erupts from Kilauea’s crater in Hawai’i Volcanoes National Park on November 27.

  The volcano has been erupting continuously for nearly 30 years. No major damage has been suffered by a town since 1986, according to Reuters.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Fiery Encounter

  Photograph by Hugh Gentry, Reuters

  “Ocean entries are beautiful but dangerous,” said Janet Babb, spokeswoman for the U.S. Geological Survey's Hawaiian Volcano Observatory, in a statement reported by Reuters. She warned that the steam could be more hazardous than it appears.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Point of Contact

  
  Photograph by Matt Northam, My Shot
  

  A plume of smoke billows where lava from Kilauea meets the sea in this aerial photo taken November 27.

  Published November 30, 2012

  
  











• 
  
  
  
  
  
  
  

  Photograph by Peter Vancoillie, Your Shot

  Published November 30, 2012

  
  

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Obama: Don't Hold Middle-Class Tax Cuts Hostage

Dec 1, 2012 6:00am

AP Photo/Charles Dharapak

President Obama is urging Congress to extend tax breaks for the middle class, saying it’s “unacceptable for some Republicans in Congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest Americans.”

With the clock ticking toward the so-called “fiscal cliff,” Obama asked lawmakers in his weekly address to “begin by doing what we all agree on” and extend the middle class tax cuts set to expire at the end of the year.

Read: Cliff Dive: A Stalemate and a Scrooge Christmas

“With the issue behind us, we’ll have more time to work out a plan to bring down our deficits in a balanced way, including by asking the wealthiest Americans to pay a little more, so we can still invest in the things that make our nation strong,” he said from a toy manufacturing facility in Hatfield, Pa., where he delivered a similar message to workers Friday.

The president has launched a public campaign to try and force Republicans to sign on to his position on the expiring Bush tax cuts, asking them to pass a Senate bill that would maintain low middle class tax rates while allowing them to go up on the top income earners.

“If we can just get a few House Republicans on board, I’ll sign this bill as soon as Congress sends it my way,” he said.

Read: Could Outgoing Republicans Hold Keys to ‘Fiscal Cliff’?

Earlier this week, the White House put forth a deficit reduction proposal to avert the looming tax increases and spending cuts set to kick in on Jan. 1, which included $1.6 trillion in tax increases over the next 10 years, $50 billion in new stimulus spending, $400 billion in unspecified Medicare cuts, and a measure to effectively end Congress’s ability to vote on the debt limit.  The offer, which closely mirrors the president’s previous deficit-reduction plans, lacked concessions to Republicans, including detailed spending cuts, and was strongly rejected.

Since then, as House Speaker John Boehner put it, negotiations between the White House and House Republicans have come to a “stalemate.”

SHOWS: World News

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US Senate approves new sanctions on Iran

WASHINGTON: The US Senate unanimously approved new economic sanctions Friday aimed at further crippling Iran's energy, shipping and port sectors, a year after Congress passed tough restrictions against Tehran.

The amendment, tacked on to a sweeping defense spending bill being debated by the chamber, passed 94-0 and should sail through the House of Representatives.

It was introduced by Senator Robert Menendez out of concern that Iran was pressing ahead with its nuclear weapons drive despite earlier sanctions that had been hailed as the toughest-ever against the Islamic republic.

"Yes, our sanctions are having a significant impact, but Iran continues their work to develop nuclear weapons," said Menendez, a Democrat.

He cited last week's report by the International Atomic Energy Agency that Iran continues to defy the United Nations and world community by refusing to slow uranium enrichment, denying access to inspectors and conducting live tests of conventional explosives that could be used to detonate a nuclear weapon.

"By passing these additional measures ending sales to and transactions with Iranian sectors that support proliferation -- energy, shipping, ship-building and port sectors as well as with anyone on our specially designed national list -- we will send a message to Iran that they can't just try to wait us out."

Building on the sanctions passed last year, the amendment would designate Iran's energy, port, shipping and ship-building sectors as "entities of proliferation" because they "support and fund Iran's proliferation activities."

Under the new rules, the United States would sanction anyone selling or supplying certain commodities to Iran -- including graphite, aluminum, steel, and some industrial software -- that are relevant to the country's ship-building and nuclear sectors.

Despite tough US and European sanctions, Tehran has been able to bypass certain restrictions by accepting payment in forms like gold for certain exports.

The Menendez amendment targets such circumventions by seeking to prevent Iran's central bank from receiving payment in precious metals.

The sanctions would also designate the Islamic Republic of Iran Broadcasting and its president as "human rights abusers" for airing forced televised confessions and show trials.

Senator John McCain offered his blunt assessment of the need for expanded sanctions to counter Iran's intentions.

"The screws need to be tightened," the Republican said on the Senate floor before the vote. "The centrifuges are still spinning in Tehran."

McCain said the new sanctions "can -- I emphasize can -- lead to a way to prevent a conflagration in the Middle East."

The far-reaching defense spending bill, when it passes, would have to be reconciled with the House version passed in July, but the sanctions amendment is safe, as the Republican-led House has been highly supportive of previous Menendez sanctions legislation against Iran.

-AFP/ac

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CBI chargesheets arms dealer Abhishek Verma, wife, firm & ex-IAF man in OS Act case

NEW DELHI: The CBI today chargesheeted arms dealer Abhishek Verma, his Romanian wife Anca Maria Neacsu, their company M/s Ganton India Pvt Ltd and a former Wing Commander of the Indian Air Force for allegedly possessing secret defence documents and supplying them to foreign nationals in violation of the Official Secrets Act.

They were charge sheeted under section 3 of the OSA (for passing sensitive information) and also for criminal conspiracy and theft from a place for custody of property under the Indian Penal Code.

"From the investigation conducted in the case so far, it has come on record that Verma and Anca first came in contact with C Edmond Allen and persuaded him to do business through them. For this purpose they incorporated M/s Ganton Ltd, USA. It was an independent identity," the CBI said in the charge sheet filed before Chief Metropolitan Magistrate Vidya Parkash.

"During period from 2009-11, they also got incorporated other companies namely M/s Ganton India Pvt Ltd and M/s Sig Sauer India Ltd. Verma and Anca and their associates in a clandestine manner and after hatching well planned conspiracy, obtained possession of these documents (secret documents) for any purpose prejudicial to safety and interest of India.

"They also communicated these documents and information to the persons who were neither authorised to receive them in any capacity nor Verma or Anca were having any kind of concern/ connection with the same," the charge sheet said.

The CBI also said the secret documents also contained a scanned copy of handwritten notes pertaining to revenue procurements of IAF and that was when Rao was called to join the investigation and his specimen handwriting was taken.

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