Singapore c.bank to introduce s-term bills from Q2 2011

July 29 (Reuters) – Singapore’s central bank said on Thursday it will issue short-term bills next year, a fourth instrument for money markets, to help banks manage their liquidity.

Currently the central bank uses three instruments — foreign exchange swaps, money market borrowings and repos.

“MAS Bills will be our fourth instrument. These bills are negotiable, so banks needing liquidity can tell them or pledge them as collateral in interbank repo markets as well as the MAS Standing Facility,” said Heng Swee Keat, the managing director of the Monetary Authority of Singapore.

“This will facilitate banks in managing their liquidity.”

He said the bills would be for up to three months and the authority was initially planning an issue of up to S$20 billion. (Reporting by Nopporn Wong-Anan)

Russia’s IIB restructures $1 bln debt to cbank -reports

July 6 (Reuters) – Russia’s International Industrial Bank (IIB) restructured 32 billion rouble ($1 billion) debt to the central bank, easing concerns on its ability to repay a 200 million euro Eurobond, business papers reported on Tuesday.

Industrial magnate Sergei Pugachev, the bank’s controlling shareholder, pledged his stakes in two shipyards as collateral for the central bank’s loans, and may secure an additional $400-600 million in loans from state-controlled lender VTB (VTBR.MM), Vedomosti reported, citing banking sources.

“The loan (to the c.bank) has been rescheduled to the middle of January 2011, the bank should pledge collateral in two weeks,” a source close to the central bank told Kommersant, another business daily.

Reuters could not reach IIB for immediate comment.

IIB [IIBNK.UL], also known as MezhPromBank, is ranked among Russia’s top 30 in terms of assets, but the main part of its business is connected to Pugachev’s shipbuilding-to-mining empire.

The bank needs to repay the Eurobond on July 6 and a source close to the bank has earlier said it plans to pay the debt from own funds [ID:nLDE65F1I6] ($1=31.17 Rouble) (Reporting by Dmitry Sergeyev; Editing by Anshuman Daga)

India’s Fortis revokes 39 mln pledged shares

July 5 (Reuters) – Fortis Healthcare (FOHE.BO), locked in a battle to take control of Singapore’s Parkway Holdings (PARM.SI), said on Monday the owners of the Indian hospital chain had revoked about 39 million pledged shares, or nearly 10 percent of total outstanding equity.

After the transaction, the percentage of shares pledged to total number of Fortis’ outstanding shares was roughly 31 percent, the company said in a disclosure to the Bombay Stock Exchange.

It did not provide details of the transaction in the stock exchange filing.

Companies usually pledge shares to raise funds and the agreement is revoked when the loans are repayed.

Fortis, which controls just over 25 percent of Parkway, had intended to build a controlling stake in the Singapore firm before Malaysian state fund Khazanah made a surprise $835 million partial offer in May to lift its stake to 51.5 percent. [ID:nSGE64Q042]

Analysts say billionaire brothers Malvinder and Shivinder Singh, who control Fortis, have the access to capital to challenge the Malaysian fund, although Khazanah has far deeper pockets, with $28 billion in assets. (Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)

Dollar falls to one-month low vs yen

June 24 (Reuters) – The dollar fell to a one-month low against the yen on Thursday as the greenback stayed pressured by the U.S. central bank’s pledge to keep rates low for some time. The dollar fell to 89.63 yen JPY=, its lowest since late May.

“Price action in the likes of dollar/yen remains poor, my order board suggests some more weakness to come in dollar/yen with an initial target 89.10 yen,” one London-based spot trader said. (Reporting by Neal Armstrong and Tamawa Desai)

Australia’s Santos: welcomes PM pledge on mine tax

June 24 (Reuters) – Australia’s Santos Ltd (STO.AX), which plans to build a coal-seam gas export plant in Queensland state, welcomed on Thursday new Prime Minister Julia Gillard’s commitment to negotiate openly on the proposed mine tax.

Energy

“Santos has participated in the government’s consultation process since the new tax was announced, but remains concerned over its potential impact on both existing operations and new investments,” it said in an e-mailed statement. (Reporting by Fayen Wong; Editing by Ed Davies)

Japan PM Kan: To realise budget balance by 2020

(For more stories on the Japanese economy, click [ID:nECONJP])

Bonds

TOKYO June 14 (Reuters) – Japanese Prime Minister Naoto Kan said on Monday the government will pledge to bring the primary budget balance into the black within a decade when it maps out its long-term fiscal reform plan later this month.

Kan also vowed to keep fresh government bond issuance at or below the current level of 44.3 trillion yen ($483 billion) in the fiscal year starting next April. ($1=91.64 Yen) (Reporting by Tetsushi Kajimoto)

Obama calls to congratulate Japan’s PM-elect Kan

U.S. President Barack Obama called Japan’s prime minister-elect, Naoto Kan, on Saturday to congratulate him on his election and pledge to work together on issues including North Korea and Iran, the White House said.

Kan, 63, will become Japan’s fifth prime minister in three years, taking the helm as the country struggles to rein in a huge public debt, engineer growth in an aging society, and manage ties with security ally Washington and a rising China.

“The two leaders agreed to work very closely together to address the many issues facing both nations and the global community, including the challenges posed by North Korea and Iran,” the White House said in a statement.

“They emphasized the importance they each place on the US-Japan Alliance,” it said.

The two men are expected to meet at the G8 and G20 summit meetings in Canada later this month. (Reporting by Jeff Mason; Editing by Peter Cooney)

S. Korea’s Lee says referred ship sinking to U.N.

June 4 (Reuters) – South Korean President Lee Myung-bak said on Friday that Seoul had complaind to the United Nations Security Council about the sinking of its naval ship by the North in March.

“Today, the Republic of Korea government referred the matter of North Korea’s attack against the Cheonan to the U.N. Security Council,” said Lee, speaking at a security conference in Singapore.

“North Korea must admit its wrongdoing, it must pledge to never again engage in such reprehensible action. This is in the interest of peace. This is in the interest of North Korea.” (Reporting by Nopporn Wong-Anan; Editing by Raju Gopalakrishnan)

Russia pledges extra $340 mln to car scrappage scheme

June 3 (Reuters) – Russia will pledge an additional 10.5 billion roubles ($339.8 million) to its car scrappage programme after the incentive scheme boosted monthly car sales for the first time in 18 months in April. [ID:nLDE64B24K]

Prime Minister Vladimir Putin told a government meeting on Thursday he planned to pour more cash into the scheme, which offers buyers 50,000 roubles to trade in vehicles aged over ten years.

(Reporting by Darya Korsunskaya; Writing by John Bowker)

Government employees take anti-terrorism pledge

New Delhi, May 21 (ANI): Anti Terrorism Day was observed throughout the country on Friday with employees in Government offices, public sector undertakings (PSU) and other public institutions taking a pledge in this regard.

Union Home Minister P.Chidambaram administered the oath to the officers and staff of the Home Ministry in the North Block lawns this morning.

The day is observed to generate awareness in the country among all sections of people, about the danger of terrorism, violence and its dangerous effect on the people, the society and the country as a whole.

`The objective behind the observance of Anti-Terrorism Day is to wean away the youth from the terrorist/violence cult by highlighting the suffering of the common people and showing how it is prejudicial to the national interest.

These objectives are sought to be achieved by organizing debates/ discussions in schools, colleges and universities; holding of symposia/ seminars, lectures, etc. on the dangers of terrorism and violence and a determined and sustained drive to bring about a mass awakening against terrorism and violence. (ANI)

State should exercise responsibly its right to use forces: Chidambaram

New Delhi, May 21 (ANI): Union Home Minister P Chidambaram on Friday said the right to use force should be exercised responsibly by the state, thereby asking paramilitary forces to tackle violence with “patience, tact and understanding”.

“In dealing with violence, the state alone has the right to use force. If the state uses it force, it has to be used responsibly. The state cannot use excessive force,” said Chidambaram.

“The state cannot use force against unarmed and defenceless people. These are the limitations that come with the right to use force,” he added while speaking at the Investiture ceremony of the Border Security Force (BSF).

The Home Minister asked the paramilitary forces to respect the limitations of the force.

“Remember that while the state has power to use force, we must respect its limitations because if we do not observe the limitations of the force, the people will question the intentions and the goals that have been set. The people will question the legitimacy of the state to use force,” said Chidambaram.

Chidambaram further said that violence is not new to India, asserting that one must remember that “we live in a very troubled world” and a “very volatile neighbourhood”.

“Within India there are groups who claim to speak for people with different causes and regard violence as legitimate. No one in the country other than the state has the right to use force,” he said, expressing confidence that the country will be able to tackle terrorism.

Chidambaram also awarded President”s gallantry and police medals to the BSF personnel and led the force and those present in taking a pledge against violence and terrorism on the occasion of Anti-Terrorism Day observed on Friday to celebrate the nineteenth death anniversary of former Prime Minister Rajiv Gandhi. (ANI)

Kalmadi guarantees CoCom members of significant development

New Delhi, May 3 (ANI): The Chairman of the Commonwealth Games Organising Committee (CGOC), Suresh Kalmadi, on Monday assured the members of the Coordination Commission (CoCom) of the Commonwealth Games Federation that significant progress has been made in all areas towards successfully hosting the 2010 Commonwealth Games.

The committee would itself witness the considerable progress in all areas since their last visit in December 2009, said Kalmadi in his inaugural address at the opening session of the CoCom meeting here, chaired by its President Austin Sealy.

“A lot of progress has taken place since the previous CoCom visit. The city of Delhi will be ahead by 10 years in terms of modern state of the art infrastructure and stadiums,” said Kalmadi.

“I am thankful for all the support and guidance that CoCom has extended to our team and their pledge to continue to support the organising committee in successful organisation of Delhi Games,” he added.

Kalmadi further said Prime Minister Dr Manmohan Singh has showing interest in the build-up to the Games and had organised the meeting of the Group of Ministers (GoM) to take stock of the entire efforts.

Austin Sealy praised the efforts of Kalmadi and said: “I have toured the venues including the main press centre and broadcasting centre and found them good.”

Earlier in December last year, the seven-member CoCom delegation had reviewed New Delhi”s preparation for the mega event. (ANI)

Rebels targeting Gasnier, not Folau

The Melbourne Rebels insist they are only chasing one player with ties to rugby league and that is Mark Gasnier.

The new Super 15 rugby franchise has been linked with Brisbane Broncos star Israel Folau.

The 20-year-old, who joined the Broncos in 2009 after two successful years with the Melbourne Storm where he broke try-scoring records, has reportedly been given a deadline of the end of April to re-commit to his NRL club.

Brisbane signed the Test flyer on a four-year deal that has a two-year option in the player’s favour and want Folau to pledge his loyalty.

Although he moved back to Brisbane to be closer to his tight-knit family, it is believed he misses Melbourne.

While the Storm NRL club, already under serious salary cap pressure, could not afford him, the new Super side, who will join the expanded competition next year, could.

However coach Rod Macqueen said the only league player, former or otherwise the Rebels were pursuing, was former Test representative Gasnier, who is currently playing rugby in France.

“We haven’t had any discussions with Israel Folau,” Macqueen said.

“At the moment we’re concentrating on Gasnier so from our point of view, if we can get him we’ll be very happy.

Macqueen said the Rebels had not discounted recruiting league players who were interested in a code switch, but were not actively pursuing any current NRL players.

The World Cup-winning coach said the Rebels were not expecting a decision from Gasnier until he had finished his negotiations with the Australian Rugby Union, who he would also sign with.

It is believed the ARU has offered the former Dragons captain a largely incentive-based contract, which will mean a big pay-day if he makes the Wallabies squad for next year’s World Cup in New Zealand.

Gasnier has spoken of his desire to play in the tournament and prove himself on the international stage, as he did in rugby league.

However his cashed-up French club Stade Francais is reportedly making it difficult for him to leave, where the centre is settled with his French wife, Claudine, who he married last month, by offering a massive deal.

The ARU has not set any deadlines for Gasnier to declare where his future lies.

The Secret to Hurdling Barriers for Electric Cars

In a signal that the demand for fuel-efficient and clean vehicles continues to gain momentum, the Obama administration convened a meeting of automakers and utility executives last month to explore how these two historically separate industries will work together to roll out electric vehicles.

And, even though Obama’s ambitious pledge to have one million electric vehicles on the road by 2015 will be supported by $2.4 billion in grants, numerous studies have pointed out multiple barriers to widespread EVs adoption.

Hodgman threatens no-confidence vote

Tasmania’s new Labor minority Government is already facing the threat of a no-confidence motion.

Governor Peter Underwood ended a dramatic chapter in Tasmanian politics yesterday, when he told caretaker Premier David Bartlett he had an obligation to test the strength of his government on the floor of the house.

Mr Bartlett had advised the Governor to invite the Liberals to form minority government.

The major parties hold 10 seats each in the hung parliament and the Greens hold five.

Liberal leader Will Hodgman says he will move a motion of no-confidence immediately.

He had expected to become Premier because his party won more votes.

“On day one, Tasmanians know that they have a government that has been built on deceit and lies,” he said.

“In their lust for power, [the Greens have] sold out to the Labor party, soundly beaten at the election and have offered unconditional support – so when I said a vote for the Greens is a vote for Labor, I was right.”

“[Mr Bartlett is] forming an illegitimate government with the support of the Greens – Tasmanians now have a Labor-Green government that is built on lies.”

Mr Bartlett says the Governor wanted to be convinced the Liberals could form stable minority government.

The Premier-in-waiting says his mission is to restore trust in Tasmania’s political system.

“Will Hodgman has been unable to do so, therefore the responsibility rests with me – the major parties hold ten seats each in the new parliament, with the Greens holding the balance of power.”

“I intend to make the Government work in the interests of all Tasmanians for the next four years.”

Mr Bartlett has less than a week to choose his new cabinet, but he would not be drawn on possible deals with the Greens.

“My first task is to sit down my parliamentary Labor Party colleagues and I’m not jumping any further ahead than that,” he said.

Greens leader Nick McKim says his party stands by its pledge to support a minority Labor Government and has urged Mr Hodgman to cooperate.

“We won’t support any no-confidence motion that Will Hodgman might move on the first day on Labor if there is no negotiated arrangement, because we’ve given a commitment not to,” he said.

“We’ve given that commitment because we absolutely believe the Tasmanian people not only deserve it but desire stable government.

“[Mr Hodgman] needs to put that disappointment behind him and not be a destabiliser or wrecker in the new parliament.”

Mr McKim says his party will not be making any demands, even though it holds the balance of power.

“Our position is unchanged on ministries – we’ve said we wouldn’t demand ministries in any negotiations, but we’ve also said that we’d consider any model of governance that has the capacity and maximises the opportunity to deliver stable government,” he said.

Mr Bartlett has not ruled out a ministerial post for the Greens in his new cabinet.

Funding pledge omits cancer centre

The Border Cancer Network is criticising the Federal Government for failing to fund a new cancer centre in Albury-Wodonga.

The Network made a submission for the new cancer centre under the Government’s $560 million program to improve cancer treatment in rural areas.

The Government yesterday announced it would fund a $1.5 million accommodation facility and a new positron emission tomography (PET) scanner.

The network’s Marianne Warren says the funding will improve diagnostic services in the region, but she says it will do little to improve access to cancer treatment.

“I can’t understand what the Federal Government’s been thinking in making this type of announcement without providing infrastructure to support care,” she said.

“Where do people go? Once you’ve had a PET scan and you’ve been diagnosed with a cancer you’re still back in the system that we’ve got.”

PM promises oncology services boost

Prime Minister Kevin Rudd has committed to boost oncology services at the Townsville Hospital.

Mr Rudd says the Federal Government will provide funding for a positron emission tomography (PET) scanner and additional facilities, including three radiation bunkers.

He says it is part of a pledge to boost healthcare across regional Australia, but has not said if it will eventuate before the next election.

“This is something we committed to just two years ago,” Mr Rudd said.

“We’ve funded it, it’s going to happen. This is the fulfilment of our commitment to the people of Townsville.

“Someone said this morning that the Liberal Member said, ‘why has it taken so long?’ But I remind [you] … that the Liberals were in office for 12 years and they’ve had that opportunity to deliver this.

“We’ve been in for two years and we’ve honoured this.”

Police pledge may not meet demand

Victoria’s Opposition says it cannot guarantee it will be able to meet the demand for 81 new officers in Bendigo.

Last year, the Police Association released research showing the Greater Bendigo area was short of 81 police officers.

The Opposition is promising to put on 1,600 more police state-wide and says some of those officers will be stationed in Bendigo.

But Victorian Nationals’ leader Peter Ryan says the Coalition promise does not match the Police Association’s request.

“I cannot guarantee that Bendigo would get 81 extra officers,” he said.

“The Police Association has made that calculation of needing an extra 81 officers and that is on the basis that it would happen if Victoria received anything up to about an additional 3,000 police officers.

“We simply cannot provide that number, as much as we might like to.”

Demi Moore and Ashton Kutcher launch anti-slavery campaign in Haiti

London, Mar 30 (ANI): Demi Moore and Ashton Kutcher have unveiled a new campaign against child slavery in earthquake-ravaged Haiti to ban the unethical practice.

The Hollywood couple joined hands to voice their concerns over the country”s ”restavec” system, in which a child is sent to work as a domestic servant for another family as a means of supporting themselves.

The pair has claimed that the slavery prevents youngsters from gaining an education and experiencing their childhood.

And the stars have used their Demi & Ashton foundation to sponsor a pledge to encourage members at a United Nations meeting on Wednesday to donate to Haiti and call for the restavec system to be banned altogether.

“Let”s support the Haitian people, but let”s support them the right way, and let”s support all of them; don”t forget about the 300,000 children that are enslaved. It”s going to take a lot of loud voices,” the Daily Express quoted Kutcher as telling website Mashable.com.

Moore added: “It”s about creating the awareness that draws the line of what”s acceptable and unacceptable. Any human being enslaved is unacceptable. As long as one is enslaved, then we are all enslaved. It”s an atrocity to stand by and let this happen.” (ANI)

Obama signs executive order on abortion

US president Barack Obama has signed an executive order barring taxpayer dollars from being used to pay for abortions, keeping a pledge he made to help push his health care reform through Congress.

The White House issued a photograph of Mr Obama signing the measure in the Oval Office, surrounded by pro-life Democrats, whose votes were crucial in the 216-212 passage of the historic health bill.

In negotiations before Sunday’s vote in the House, Mr Obama’s executive order won over the holdouts.

Mr Obama’s measure does not alter existing legislation on abortion, White House spokesman Robert Gibbs stressed, adding that the president maintained his support for a woman’s right to choose to terminate her pregnancy.

Mr Gibbs said the executive order “ensures that health care, the law the president signed, maintains the status quo of the federal law prohibiting the use of federal dollars for abortion”.

- AFP