Home » Posts tagged "World"

Posts Tagged ‘World’:


NY Times: Journalists abused, threatened in Libya (AP)

in Uncategorized

NEW YORK – The New York Times says Libyan soldiers physically abused its team of journalists and threatened to kill them during the six days they were held in captivity.

Libya released the four journalists on Monday. Turkey helped negotiate their release.

The journalists say they were captured when they mistakenly drove into a checkpoint manned by Libyan forces. Their driver is still missing.

The soldiers tied them up with wire, an electrical cord, a scarf and shoelaces.

Photographer Lynsey Addario says soldiers punched her in the face and groped her. One soldier stroked her head and told her she was going to die.

The Times says soldiers threatened to decapitate photographer Tyler Hicks. Hicks says they temporarily put handcuffs on reporter Anthony Shadid so tightly that he lost feeling in his hands.

See more here:
NY Times: Journalists abused, threatened in Libya
(AP)



Buffett looking at investing in India, large countries (Reuters)

in Uncategorized

BANGALORE (Reuters) – Billionaire Warren Buffett on Tuesday said he is looking to invest in large countries like India, China and Brazil, but added that restrictions on foreign ownership in India’s insurance industry could act as a deterrent in the sector.

Speaking to reporters on his maiden visit to India, Buffett also said the U.S. economy was improving and that the devastating earthquake in Japan would not hurt global growth.

“India is a very logical place to look so I hope I spend some money here,” Buffett told reporters in the southern Indian city of Bangalore, adorned in a flower garland and a red “teeka” — a dash of vermillion placed on foreheads as a symbol of good wishes.

Buffett also said the U.S. economy was improving. “The American economy is getting better month by month,” he said. “The more India prospers or China prospers, the more the United States is going to prosper over the long term,” he added.

He also said the earthquake in Japan – which has left at least 21,000 people dead or missing and has triggered the world’s worst nuclear crisis in a quarter of a century — would not hurt global growth.

“In terms of its effect on the world economy over any period of time, it’s not going to be that important,” he said. “It’s going to be important for Japan, obviously, but it will not stop the growth of the world economy,” he added, a day after he said the crisis created a “buying opportunity.”

Buffett, nicknamed the Oracle of Omaha, a reference to his prodigious skill in picking out great investments that are followed closely by investors, and his Omaha, Nebraska origins, said he was looking at industries with modest rates of change.

The 80-year old investor who is yet to name a successor to take over his $200-billion empire, skirted questions on the succession plan but praised Berkshire veteran Ajit Jain for smoothly running much of the company’s insurance business.

“He loves what he does, he’s not looking to take my job. If he was, the board of directors would probably put him in there in a minute,” he said.

Four names top the list of potential candidates to succeed Warren Buffett as chief executive of Berkshire Hathaway, including that of India-born Ajit Jain.

INDUSTRIES OF INTEREST

When asked if he would invest in India’s $60 billion information technology industry or in the semiconductor business, Buffett said he preferred sectors he had expertise in.

“I think about the soft drink industry or the chewing gum industry, something that’s much easier for me to understand,” he said.

Berkshire owns a stake in Wrigley since 2008, when it poured $6.5 billion into Mars Inc’s $23 billion acquisition of the chewing gum maker. And Coca-Cola (KO.N) is one of Berkshire’s biggest investments.

Buffett said he liked large countries like India, China, Brazil, United Kingdom and Germany. “We need to invest billions of dollars and that’s very tough in emerging markets,” he said.

“I don’t consider India as an emerging market, I consider India as a very big market. We continue to look at large countries like India.”

Earlier this month, Berkshire Hathaway (BRKa.N) agreed to become a corporate agent for India’s Bajaj Allianz General Insurance, marking its entry in to the insurance sector in Asia’s third-largest economy.

Indian rules do not allow foreign firms to own more than 26 percent of an insurance company – a move that is seen by many overseas firms as restrictive.

The insurance portal, owned entirely by Berkshire, will sell motor insurance policies for Bajaj Allianz, avoiding the foreign ownership restrictions.

“It would be more attractive to us if we could buy more than 26 percent,” Buffett said. “I would say that for the time being, and perhaps for some time, our activities in insurance here will be at the agency level rather than at the underwriting level,” he said.

Buffett was in Bangalore to visit the local arm of TaeguTec, a unit of Israeli metal-cutting tool maker ISCAR Metalworking, in which Berkshire has a majority stake. He is also expected to meet policymakers and company executives.

Ranked the world’s third-richest man by Forbes magazine, Buffett is also using his visit to India to encourage philanthropy.

Visiting South Korea on Monday, Buffett said Berkshire, which had $38 billion of cash equivalents at the end of 2010, was looking for more large-scale acquisitions anywhere in the world.

(Reporting by Sayantani Ghosh and Santosh Nadgir; Writing by Sumeet Chatterjee; Editing by Jui Chakravorty)

Read the original post:
Buffett looking at investing in India, large countries
(Reuters)



Champagne exports up nearly 20 percent (AFP)

in Uncategorized

REIMS, France (AFP) – French exports of Champagne shot up 19.5 percent in 2010 after two years of sagging sales abroad due to the global economic crisis, an industry source said this week.

Britain remained the top importer of genuine bubbly, buying 35.5 million of the 134.5 million bottles shipped outside France, according to the Interprofessional Committee for Wine and Champagne (CIVC).

Sales in Champagne’s number two overseas market, the United States, jumped nearly 35 percent over the previous year, to 16.9 million bottles, followed by Germany and Belgium, up 21.6 and 7.8 percent respectively.

The only exception to the upward trend was The Netherlands, where the appetite for the luxury beverage slacked off by nearly 10 percent, to 2.4 million bottles shipped.

While still a small slice of overall exports, demand for Champagne nearly doubled in Russia and China, which both topped one million bottles imported in 2010.

Brazil has also acquired a taste for the sparkling wine, buying up more than 600,000 bottles.

At home, sales in France expanded comfortably by 2.3 percent to 184 million bottles.

Total Champagne sales in 2010 of 319.5 million bottles — 4.11 billion euros (5.82 billion dollars) at the cash register — is the fourth highest in history. The record of 338.7 million bottles was set in 2007.

Hit by the global financial meltdown, bubbly exports fell by 28 percent in 2009.

See the original post:
Champagne exports up nearly 20 percent
(AFP)



NATO should have key Libya role: White House

in Uncategorized

Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.

NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Read the original:



Ex-Israeli president sentenced to 7 years for rape (AP)

in Uncategorized

TEL AVIV, Israel – An Israeli court sentenced former President Moshe Katsav to seven years in prison on Tuesday for raping a former employee, capping a five-year saga that turned a working-class hero into the country’s highest-ranking official ever ordered to jail.

The case has riveted Israel, sparking heated debate about equality before the law, women’s rights and the role of the media. Vowing to appeal, Katsav shouted at the judges: “You have committed an injustice! The verdict is untrue. It is a lie. The lies have won!”

The court ordered Katsav, 65, to report to prison on May 8, giving him time to prepare an appeal before the Supreme Court that his attorneys said they will file promptly.

Katsav has denied the charges, but the Tel Aviv court stated unequivocally that the accusers’ versions of events were far more credible. Although Israel’s Supreme Court has in the past overturned high-profile convictions based on reasonable doubt, most analysts predicted an uphill struggle for Katsav.

If the Supreme Court upholds the ruling, Katsav could ask his successor, President Shimon Peres, for a pardon. But the chances there seem slim as well; on Tuesday Peres said the sentence “illustrates that in the state of Israel no one is above the law.”

Public opinion in Israel has largely supported that view, although there have also been pockets of support for Katsav, with some people uncomfortable at the prospect of jailing an ex-president.

Presiding judge George Kara acknowledged that the spectacle of a former president going off to jail would be difficult, but argued that “we can’t forget that the accused is not a victim but a victimizer.” He said Katsav’s acts harmed the public’s trust in its officials and carried moral turpitude.

The Tel Aviv District Court convicted Katsav in December of raping a former employee and sexually harassing two other women who used to work for him — resulting in additional convictions for indecent acts and obstruction of justice.

The rape took place when Katsav served as tourism minister in the late 1990s, while other crimes occurred after he became president in 2000. The scathing ruling called him “manipulative” and said his testimony was riddled with lies.

The three-judge panel ruled 2-1 in Tuesday’s sentencing, with the dissenting judge favoring a lesser jail term.

The ruling said Katsav’s long record of public service did not factor in his favor. Rather, the court accused him of exploiting his lofty position to become a sexual offender. Katsav was also handed a two-year suspended sentence and ordered to pay fines to two of his victims.

He may also face civil action that could result in much higher fines.

The sentencing capped a dramatic fall from grace for a man who rose from humble beginnings to become a symbol of success for Mizrahi Jews, or those of Middle Eastern descent, who for years were an underclass in Israel. The presidency is a largely ceremonial office, typically filled by a respected elder statesman who is capable of rising above politics and unifying the country.

Katsav has claimed he was a victim of a witch hunt driven by ethnic differences among Israeli Jews. Israel’s European-descended elite — which has provided every prime minister to date — could never quite accept the ascent of a religious man who immigrated from Iran as a child, he suggested.

On the other hand, the case has widely been seen as a victory for women in a decades-long struggle to chip away at the nation’s macho culture, which once permitted political and military leaders great liberties. Outside the building, a group of women held signs with a message directed toward female victims of sex crimes, “You’re not alone.” The protests were clearly audible inside the courtroom.

Prime Minister Benjamin Netanyahu expressed sorrow for Katsav’s fate but lauded the sentencing. “Every woman has the right to her body, the right to respect and freedom, and nobody has the right to take these from her,” Netanyahu said.

The Katsav ruling is part of an impressive record of accountability in Israel in recent years: prosecutors have won convictions of a finance minister for embezzlement, a justice minister for sexual harassment and a former labor minister for corruption. A former prime minister, Ehud Olmert, was forced to resign to face corruption charges and his trial is ongoing.

But Katsav’s trial overshadowed the others.

The case began when Katsav suddenly complained to police five years ago that a female employee was trying to extort him. She went to police with her side of the story, and other women came forward with similar complaints of sexual assaults.

Katsav, Israel’s eighth president, resigned under public pressure two weeks before his term was to end in 2007. Nobel laureate and ex-prime minister Peres was elected by parliament to succeed him.

The case’s twists and salacious details has captivated the Israeli public.

In one memorably bizarre press conference while he was still in office, Katsav lashed out angrily at prosecutors and the media, accusing them of plotting his demise. He shook with anger, waved a computer disk that he said proved his innocence and screamed at reporters.

Later, he rejected a plea bargain that would have allowed him to avoid jail time.

Katsav’s attorneys have argued that their client did not receive a fair trial because of a hostile climate created by the media. In a minority opinion, Yehudit Shevach said these circumstances and the pain caused to the Katsav family influenced her to recommend imposing the minimum sentence for a rape conviction of four years behind bars.

Katsav’s supporters are still holding out hope.

“The legal process is not over,” said family friend Ronen Ben Menashe. “I think we would all be happy that the eighth president … will come out innocent in the end.”

Earlier Tuesday, a stone-faced Katsav entered the courtroom accompanied by his sons and confidantes and would not address the media. Neither his wife, Gila, nor any of his three accusers were present. He refused to sit in the dock until the cameras left and remained stoic throughout most of the reading. And he broke down in tears upon hearing his sentence.

Katsav Attorney Zion Amir said he would appeal to the Supreme Court.

Emanuel Gross, a law professor at Haifa University, said the chances of a reversal were slim.

“The Supreme Court typically does not intervene in determining the integrity of the testimony,” he said. “The lower court has established his guilt.”

But the split decision on Katsav’s punishment opened the possibility that the Supreme Court may lessen his jail time, he added.

Visit link:
Ex-Israeli president sentenced to 7 years for rape
(AP)



©
CyberChimps