Monday, November 14, 2016

On Wednesday, India demonetised ?500 (about US$7.50) and ?1000 notes, announced as a measure to fight corruption, fake notes, and black money. Prime Minister Narendra Modi addressed the Indian citizens late Tuesday, and said 500 and 1000 rupee notes would cease to be legal tender at midnight.

To minimise possible difficulties to citizens, transactions using old 500 and 1000 rupee notes were accepted at government hospitals, railway ticket bookings, government buses, and airports. The notes were also accepted at public-sector petrol-pumps, government-authorised consumer co-operative stores, milk booths authorised by State governments, and cremation grounds till Friday midnight. These shops were obliged to have a record of their stocks and sales.

In his announcement, Modi said, “For your immediate needs, you can go to any bank, head post office or sub post office, show your identity proof like Aadhar card, voter’s card, ration card, passport, income tax PAN card number or other approved proofs and exchange your old 500 or thousand rupee notes for new notes.” ^{((hi))Hindi language: ??????? ???????? ?? ??? ???? ?? ?? ?? ???? ?? ?????? ????? ?? ??? ??? ?????? ????? ?? ??? ?? ????? ?? ??? ?????? ?? ?? ???? ?? ???? ?? ?????? ?? ?? ??? ?? ?? ?????? ?? ???? ????? ????, ???? ??, ???? ?????, ?????? ?????, ???? ?????, ????????, ???? ????? ??? ????? ??????? ???? ?? ??? ??? ??? ???? ?? ??? ??? ???? ???}

Modi also announced those who failed to change their currency till December 30 can exchange the notes at Reserve Bank of India (RBI)’s office along with a declaration form till March 31. The notes can be exchanged till December 30 at any branch of any bank across India.

By Saturday, Finance Minister Arun Jaitley said demonetised money equivalent to almost US$30 billion was deposited in banks across India. According to estimate, the old notes accounted for 85% of the total money in circulation. New 500 rupee and 2000 rupee notes are to be issued. Modi said RBI would exercise caution from past experience and limit the circulation of large-value notes.

International tourists could purchase up to 5000 rupees using the old notes at airport exchanges till Friday.

A limit was imposed on cash withdrawal; a maximum of 10000 rupees each day, and 20000 rupees each week, can be withdrawn. Moreover, from Thursday (November 10) till November 24, 4000 rupees can be exchanged in the banks and post offices. The amount is credited to the bank account.

Government workers were informed about demonetising when the announcement was made. Modi announced all banks would remain closed for public work on Wednesday.

In the United States, Donald Trump won the 2016 presidential election on Tuesday, immediately after which stock markets dropped globally. Following the US election and demonetising the money, the Indian stock market fell by 1700 points on Wednesday. Sensex lost 1,688.69 points and Nifty lost 111.55 points on the same day. Indian technology sector companies experienced loss. TCS suffered 4.93% loss and Infosys lost 2.74%.

The Indian rupee is also used in the neighbouring countries of Bhutan and Nepal. The border area uses Indian currency for day-to-day transactions. The Royal Monetary Authority of Bhutan (RMA) has announced the exchange of old notes will be facilitated till December 15. RMA governor Dasho Penjore informed Indian news site The Wire, “We do not know exactly how much Indian currency of Rs 500 and Rs 1,000 is in circulation in Bhutan. We will get a better idea after the deadline to deposit their amount”. RMA has 30% of its international exchange reserve in Indian rupees. Nepal Rastra Bank directed all Nepali banks to stop conducting transactions using the Indian rupee.

On Thursday, there were long queues in front of ATMs and banks to exchange the old notes and withdraw money. BBC reported some banks ran out of cash. Police were called to some banks to maintain discipline. Banks were open on Saturday and Sunday for money exchange.

Shops did not accept the old 500 and 1000 rupee notes. Some emphasised cash-less transaction as well. BBC reported some traders and small business owners in Delhi threatened to call a strike as this move affected their business.

eRetail websites like Amazon and Flipkart announced they would not accept the old 500 and 1000 rupee notes on Cash on Delivery orders. Amazon also announced 15% discount on gift cards worth 500 or 1000 rupees.

The government ceased all transactions using the old 500 and 1000 rupee notes before Saturday. But a Wikinews correspondent noticed a jeweler shop accepting the demonetised notes on Saturday. When questioned, the jeweler said they were accepting the old notes only on purchase. When the correspondent, who did not identify as a reporter to the shop owners, said the old 500 and 1000 rupee notes were not legal money, they said they will exchange the notes in a bank since there were 50 days to exchange with a new and legal tender. They refused to exchange old 500 rupee notes with change, asserting the customer needs to buy merchandise from their shop.

Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”

Tuesday, September 16, 2008

The International Monetary Fund and the European Union approved aid packages to help Georgia recover from its conflict with Russia, which occurred in early August. The IMF approved a US$750 million loan which will allow Georgia to rebuild its currency reserves. The European Union also approved an aid package of €500 million in aid by 2010, which is expected to help internally displaced people (IDPs) and economic recovery in the form of new infrastructure. Only €100 million of the EU aid will be given to Georgia this year.

These loans are aimed to restore confidence in Georgia’s economy and send a signal to international investors that Georgia’s economy is sound. According to the IMF, international investors have been “critical to Georgia’s economic growth in recent years.”

Takatoshi Kato, Deputy Managing Director and Acting Chairman of the IMF executive committee, said the loan will “make significant resources available to replenish international reserves and bolster investor confidence, with the aim of sustaining private capital inflows that have been critical to Georgia’s economic growth in recent years.”

Georgia has requested $2 billion in international aid to help it recover from the conflict. So far, the United States has pledged $1 billion in aid. Further assistance and loans to Georgia are expected from other organizations. Kato noted that “…Georgia is expected to receive financial assistance from multilateral and bilateral donors and creditors in support of the reconstruction effort.” It is expected that an international donors’ conference will take place next month to solicit more aid for the country.

Georgia’s government expects that economic growth will be more than cut in half as a result of the conflict. Last year, Georgia’s GDP increased 12.4% and it is predicted by the IMF that growth will be less than 4 percent in the coming year.

Tuesday, September 23, 2008

On October 14, 2008, Canadians will be heading to the polls for the federal election. New Democratic Party candidate Hana Razga is standing for election in the riding of Edmonton—Leduc. Born in London, England to Czechoslovakian parents, she immigrated to Canada in 1968, having a long career in human resources with the federal government. She is a volunteer for organizations including the Alberta Women’s Shelter, Big Sisters and Match International. She has previously run in campaigns three times provincially for the NDP, and once federally.

Wikinews contacted Hana Razga, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

Created in 2004, the riding consists of southwest Edmonton, the City of Leduc, the Town of Devon, and the surrounding area. Contesting Conservative incumbent James Rajotte are Razga, Valerie Kennedy (Green), and Donna Lynn Smith (Liberal).

For more information, visit the campaign’s official website, listed below.

A compilation of brief news reports for Thursday, August 13, 2009.

The French capital Paris has seen a second night of violence by demonstrators, who have blamed police for the death of a motorcyclist on Sunday.

On Sunday night youths in the eastern suburb of Bagnolet, set 29 vehicles alight and threw stones and petrol bombs at police. Monday night was “relatively calm” according to Samira Amrouche, spokeswoman for the regional administration, the authorities having depolyed 40 vans of riot police only 8 vehicles were burnt.

The motorcyclist, a pizza deliveryman, was killed when he fled police attempting to examine his documents, dying when he was struck by a pursuing police vehicle according to the youths,however in the police version his death was a result of him crashing into barriers.

The current violence has echoes of the unrest in 2005, with again dissaffected youths of Arab and black descent venting their anger and frustration.

Sources

• “Paris suburb youths fight police” — BBC Online, August 11, 2009
• “Plea for calm after Paris violence” — Press Association, August 11, 2009

The leaders of the North American Free Trade Agreement (NAFTA) met in Guadalajara, Mexico on Sunday and Monday. The leaders of the three countries (Barack Obama of the United States, Felipe Calderón of Mexico, and Stephen Harper of Canada) promised to work together on swine flu, organised crime and green issues.

Despite disputes in a number of areas remaining unresolved, the three leaders succeeded in presenting an amiable Three Amigos image. The three leaders expressed solidarity, and an understanding of each others position.

The unresolved issues include the buy American clauses in the US stimulus package, tit for tat reprisals by the Mexican authorities over Canadian visa restrictions on Mexican travellers, and the US ban on Mexican trucks from crossing the border.

Risking the ire of human rights activists back home President Obama expressed support for President Calderón’s war against drugs saying he had “great confidence” in the Mexican authorities.

Sources

• An. “Canadian and Mexican leaders fail to reach agreement on visas” — Xinhua News Agency, August 11, 2009
• An. “North American leaders wrap up summit, joint statement embodies cooperation” — Xinhua News Agency, August 11, 2009
• Tanya Huntington Hyde. “Ignoring Mexico’s human rights abuses” — The Guardian, August 11, 2009
• “Border ban angers Mexico truckers” — BBC Online, August 09, 2009

Mexican Federal Police (Policía Federal) have foiled an alleged plot to assasinate the President of Mexico Felipe Calderón. Acting on intelligence gathered over a year the Federal Police arrested five drug cartel members on Sunday and publicly paraded their captives and a number of weapons ,including automatic rifles, on Monday. Speaking during a summit of North American leaders Calderón played down the threats on his life, saying that the cartels are being destroyed by his policies.

Some 11000 have died since President Calderón’s took office in 2006 and made the war on drugs a cornerstone of his administration.

Sources

• “Drug cartel allegedly plotted to kill Mexican leader” — CNN, August 11, 2009
• “Mexican police foil drug cartel plot to kill president” —  August 11, 2009
• Julie Watson. “Mexico: Suspect plotted to kill president” — Associated Press, August 10, 2009

Aung San Suu Kyi has been sentenced by a court in Burma to a further three years of house arrest for violating the terms of her previous sentence. However her sentence was immediately commuted to 18 months on the orders of Burmese head of state Senior-General Than Shwe out of respect for her father General Aung San and out of a desire for “national reconciliation”.

The period of her arrest will prevent Aung San Suu Kyi from participating in the general elections scheduled for 2010. The sentence was immediately condemned by Western leaders, and breaking from their usual silence, the Association of South East Asian Nations (ASEAN) through its current chair Thailand issued a statement expressing disappointment. The ASEAN statement and talk of further European Union and United States sanctions are unlikely to have any impact on Southeast Asian country given the support of India and China.

The Chinese issued a statement calling for the world to respect Burmese sovereignty and laws, and is seen as an indication that China, a veto power will not support any United Nations actions.

John Yettaw whose unauthorised visit led to Aung San Suu Kyi’s prosecution has himself been sentenced to seven years imprisonment, four of which will be for hard labour.

Sources

• “Asian regrets at Suu Kyi verdict” — BBC Online, August 12,2009
• Li. “Myanmar gov’t gives reasons to commute Aung San Suu Kyi’s sentence” — Xinhua News Agency, August 12, 2009

Four employees of the Rio Tinto Group have been formally arrested in China on charges of bribery and using improper practises in its negotiations with Chinese companies. The Chinese accuse the men of improperly learning the negotiating position of Chinese companies wishing to buy iron ore, and through this charging 700 billion yuan (US$102.46 billion) more then they would otherwise have been able to

The four were initially held on espionage charges and have been held since early July. The formal charges allows the Chinese authorities to hold the four a further seven months as it prepares its case against them. Their arrests followed the collapse of an attempted by Chinese owned Chinalco to raise its stake in the Anglo-Australian Rio Tinto Group to 18%.

Sources

• Anne Barrowclough. “Rio Tinto China executives charged with bribery” — The Times, August 12, 2009
• “Watchdog on secrets: Rio caused “huge loss”” — Xinhua News Agency, August 10, 2009
• “A souring relationship” — The Economist, August 10, 2009

Michael Jackson will be the star of a film to be released on October 28, some four months after his death. The film will be primarily cut from footage of Jackson rehearsing for the series of concerts that would have taken place at the O2 in London, but will also feature interviews with Jackson’s family and friends.

The film becomes possible after AEG Live, the promoter of the O2 concerts, reached an US$60 million agreement with Columbia Pictures for over 100 hours of footage of Jackson preparing for his swan song.

“He was the architect of ‘This is it‘, and we were his builders…” said Kenny Ortega, Jackson’s collaborator on the project “…it was clear that he was on his way to another theatrical triumph.”

Sources

• Rosie Swash. “Michael Jackson film gets October release date” — The Guardian, August 11, 2009
• “Michael Jackson rehearsal film set for worldwide cinematic release” — New Musical Express, August 11, 2009

Saturday, July 26, 2008

On July 7 and again on July 23, there were accidental leaks at the Tricastin Nuclear Power Center in France, which is a collection of sites in four different communes: Saint-Paul-Trois-Châteaux and Pierrelatte in Drôme, and Bollène and Lapalud in Vaucluse.

Along with two other minor incidents on July 18, it has prompted the Commission for Independent Research and Information on Radioactivity (Criirad) to order a review of security and safety. Already last week, Environment Minister Jean-Louis Borloo said the ground water near all reactors should be tested and the state of waste storage sites assessed.

In the latest incident, a hundred workers were exposed to radiation. They all work for Électricité de France (EDF), which runs the Tricastin facilities with Areva. This marks the largest number of workers to be collectively contaminated in French nuclear history.

The leak was at reactor number four, which was shut for refuelling. Workers were exposed to Cobalt 58 dust which escaped while maintenance work was being carried out. Sensors noticed a rise in the level of radiation and the workers were then evacuated.

“Seventy of them show low traces of radioelements, below one fortieth of the authorized limit,” EDF said. A spokesperson later raised the number to 97 people. Criirad warned, however, that the limit was “not the level from which risk begins but the maximum acceptable level.”

“We have an alarm system which is meant to protect the staff from contamination via the atmosphere,” said Tricastin director Alain Peckre. “If a problem is detected, the alarms go off, our security procedures swing into place and everyone is evacuated from the building.”

A union representative from Confédération générale du travail (CGT) alleged that EDF was reducing maintenance and increasingly using sub-contractors, putting workers at risk in exchange for profitability.

“We spend 1.5 billion euros a year on ensuring our plants are in optimum condition,” countered an EDF spokesperson. “Safety is our top priority over and above providing electricity to the network. Since our power stations were set up, 80 per cent of maintenance operations on reactors that have been temporarily turned off are carried out by external contractors. They are the most competent to maintain and repair specific parts of the reactor, some of which they have taken part in building.”

The previous incident, on July 8, involved a 74kg spill of liquid containing unenriched uranium. Thirty cubic metres of water overflowed while a tank was being emptied. Subsequent test showed that contamination may have occurred for years.

Local wine growers Coteaux du Tricastin AOC have already become concerned about the negative association with “Tricastin” and have begun considering changing the name of their Appellation d’origine contrôlée (AOC).

“It’s only a question of image as nuclear and food don’t mix very well in consumers’ minds,” said the AOC’s president, Henri Bour, to The Daily Telegraph. Nuclear authorities “didn’t understand our move, doubtless not wanting to admit that the nuclear industry’s image is perhaps not perfect,” he added.

“Nuclear was progress and we wanted that. We thought people were competent. Now we ask, were there previous incidents we weren’t told about?” said local resident Roger Eymard to The Guardian.

Autorité de sûreté nucléaire (ASN), a nuclear safety authority, has already criticised Areva for its handling of the first incident. ASN complained of poor communication with authorities and unsatisfactory security measures and operational procedures.

The leaks have occurred just as President Nicolas Sarkozy has been promoting the European Pressurized Reactor (EPR) as a solution to rising energy costs and global warming.

France has the second largest nuclear power network in the world and generates over 80% of its electricity through nuclear power.

Sunday, February 11, 2007

An Indian all-female United Nations peacekeeping unit has arrived in Liberia, the first such team to be sent on a foreign mission.

More than a hundred female officers and about 20 men engaged in logistics work flew into Liberia on January 30, where they will receive additional training before starting their mission to strengthen the rule of law and maintain peace in the country. U.N. officials hope an all-female unit can inspire and help Liberian women.

Last year, Liberia elected Ellen Johnson-Sirleaf as the first female head of state in Africa after two civil wars in the 1990s devastated the country, displacing hundreds of thousands of people. The country now has to rebuild its basic infrastructure and economy as well as come to terms with the violence of the civil wars.

Commanding officer of the unit, Seema Dhundia told reporters that the attention her unit has received makes her “a bit apprehensive because now we have to exert more to prove our worth, to prove ourselves,”

Eighty-two female U.N. police officers currently serve in Liberia, as part of the United Nations Mission in Liberia (UNMIL).

The UNMIL Police Commissioner Mohammed Alhassan hoped that the all-female contingent will serve “as an incentive and an attraction to encourage young Liberian women to join the Liberian National Police”.

The team has served before in troubled areas in central India and Kashmir. Dhundia herself has been a peace-keeper for 19 years and says her team are well trained and experienced and will be able to handle the situation.

A U.N. spokesman viewed the role of the all-female unit to not be particularly different from that of the Jordanian, Nepalese and Nigerian units that have been working in the country. The armed unit is to specialize in controlling difficult crowd situations.

“We hope that the presence of this all-female contingent will serve as an incentive and an attraction to encourage young Liberian women to join the Liberian National Police,” said UNMIL Police Commissioner Mohammed Alhassan. The U.N. has set up a special education programme to help women join the police force.

Hopes have been high that the presence of the all-female contingent will encourage victims of rape – which is rampant in the country – to report the crime and that it will make more women interested in becoming police officers and peacekeepers.

U.N. peace-keepers have also been accused of sexual exploitation in the past, and Joanna Foster, the gender adviser to the UN Mission told BBC News that missions employing more women had reported fewer such problems.