US backs UN probe into death of Lebanon PM Hariri

8 January 2011 - 04H37

Lebanese rescuers remove a body from the site of a massive blast in central Beirut in February, 2005 which killed former prime minister Rafiq Hariri. US Secretary of State Hillary Clinton Friday stressed her support for a UN probe into the killing of Hariri during a meeting with his son, the current Lebanese premier, an official said.

AFP - US Secretary of State Hillary Clinton stressed her support for a UN probe into the killing of former Lebanese prime minister Rafiq Hariri during a meeting with his son, the current Lebanese premier, an official said.

"Secretary Clinton expressed her strong support for the independence and sovereignty of Lebanon," said a source who attended the meeting with Prime Minister Saad Hariri.

Clinton "expressed very clearly her support for the Hariri tribunal."

The top US diplomat had earlier met with Saudi King Abdullah, with whom she also discussed the simmering political crisis in Lebanon.

For months, Lebanon has been at a political impasse over reports the Special Tribunal for Lebanon (STL) is set to indict members of the powerful Hezbollah movement in connection with Rafiq Hariri's assassination.

Hezbollah, a heavily-armed Shiite movement backed by Syria and Iran, has warned it would not accept such an outcome and accuses the STL of being part of a US-Israeli plot.

The group has been pressuring Hariri, who is backed by the West and Saudi Arabia, to disavow the tribunal and warned that Lebanon could be plunged into a full-blown crisis should any of its members be implicated.

The elder Hariri was killed by a massive bomb in Beirut in 2005 that was widely blamed on Syria and sparked massive protests that led Damascus to withdraw its troops from the country.

Syria has always denied any involvement in the explosion.

Top players go under IPL hammer

8 January 2011 - 04H41

The world's leading cricket players go under the hammer for the Indian Premier League auction as the scandal-plagued tournament looks to bounce back with its fourth season. Former West Indies captain Brian Lara (pictured in 2007) and a host of England's Ashes heroes will be among 350 players up for grabs at the auction in Bangalore on Saturday and Sunday.

The world's leading cricket players go under the hammer for the Indian Premier League auction as the scandal-plagued tournament looks to bounce back with its fourth season. Former England bowler James Anderson (pictured) will be among 350 players up for grabs at the auction in Bangalore on Saturday and Sunday.

AFP - The world's leading cricket players go under the hammer for the Indian Premier League auction as the scandal-plagued tournament looks to bounce back with its fourth season.

Former West Indies captain Brian Lara and a host of England's Ashes heroes will be among 350 players up for grabs at the auction in Bangalore on Saturday and Sunday.

Lara and England bowler James Anderson are among 21 cricketers with the highest reserve price of $400,000 for a three-year contract, with the cash-rich Delhi and Mumbai teams likely to engage in a fierce bidding war.

Other foreigners on offer include Australians Adam Gilchrist and Brett Lee, England's Kevin Pietersen, South Africans Graeme Smith, Jacques Kallis and AB de Villiers, and New Zealand's Daniel Vettori.

Proceedings at a luxury hotel in the IT hub of Bangalore, presided over by a professional auctioneer from Britain, will begin both days at 11:00 local time (0530 GMT) and be broadcast live on an Indian television channel.

The annual IPL tournament revolutionised the sport when it burst onto the scene in 2008 with a high-octane blend of international star players, Twenty20 matches and Bollywood glamour.

But its fortunes dipped dramatically last year after allegations of massive corruption, money-laundering and tax evasion, as well as secret deals to hide teams' real owners, and even links to India's criminal underworld.

IPL founder Lalit Modi -- whose brash style personified the event -- was thrown out by the BCCI, the sport's governing body in India, over accusations about his conduct and organisers hope this year will be fresh start.

The tournament, to be held from April 8 to May 22, is expected to feature 10 teams after Indian courts overturned the expulsion of the Rajasthan Royals and Kings XI Punjab.

The BCCI, as part of its attempt to improve transparency in the IPL, threw out both teams in October for not declaring changes in their ownership structures.

The ensuing legal battle led to their probable return -- though no official announcement has yet been made.

Two new teams have joined the league: Kochi, who have also been involved in a nasty ownership squabble, and the Pune Warriors.

The players' auction was due to be held in November but was delayed amid confusion about the size and format of this year's tournament, which will start just six days after the end of the World Cup co-hosted by India, Sri Lanka and Bangladesh.

Twelve players have been retained by their original franchises, with Indian captain Mahendra Singh Dhoni staying with the Chennai Super Kings and Shane Warne and Shane Watson sticking with the Rajasthan Royals.

Some top cricketers have opted out of the IPL's fourth season, including the Australian trio of Ricky Ponting, Michael Clarke and Mitchell Johnson, and former India captain Anil Kumble.

Other notable absentees include former Australian stars Matthew Hayden and Glenn McGrath. Former England all-rounder Andrew Flintoff, who signed for $1.55 million with the Chennai Super Kings in 2009, has retired.

Pakistan's cricketers will continue to miss out on the IPL bonanza after none of them was included for the auction.

Their players participated in the inaugural IPL, but were forced out of the 2009 season due to security concerns in the wake of the Mumbai attacks, and were then ignored for the 2010 tournament.

Modi, meanwhile, faces a government probe over financial irregularities and has also had a criminal case registered against him by the BCCI for the misappropriation of 4.68 billion rupees ($106 million).

He denies all charges and now lives in self-imposed exile in London, surrounded by bodyguards, as he claims his life is in danger from Mumbai-based gangsters linked to illegal gambling.

Colombia rebel attack leaves nine dead

8 January 2011 - 04H42

Relatives and friends of soldiers and policemen kidnapped by the Revolutionary Armed Forces of Colombia (FARC) take part in a vigil in December in Bogota. A FRAC attack Friday on a police station in southern Colombia left nine dead, including three soldiers and one young civilian, officials said.

AFP - A rebel attack on a police station in southern Colombia left nine dead, including three soldiers and one young civilian, officials said.

General Juan Carlos Salazar told Radio Caracol that the raid was carried out by the Revolutionary Armed Forces of Colombia (FARC) in the town of San Vicente del Caguan, in the Caqueta department.

He said troops responded when they learned of the attack, killing five FARC fighters. Four other soldiers were wounded along with another civilian.

FARC, which has been at war with the Colombian government since 1964, has between 7,000 and 11,000 fighters and is holding at least 19 soldiers and police officers hostage.

US golfer Lincicome to take on men in Hooters Tour

8 January 2011 - 04H51

American pro golfer Brittany Lincicome, pictured in October, is kicking off another round in golf's battle of the sexes as she plans to tee off against the men at a Hooters Tour tournament in Florida

AFP - American pro golfer Brittany Lincicome is kicking off another round in golf's battle of the sexes as she plans to tee off against the men at a Hooters Tour tournament in Florida.

Three-time LPGA Tour winner Lincicome will compete against a field of men at a NGA Hooters Tour event next week at the Deer Island Golf Club.

This is the first time Lincicome has entered her name in a Hooters Tour event.

Lincicome says she has a modest goal in her first tournament against the men.

"A small goal would be to make the cut," said Lincicome. "After I get over my nerves, I just want to have some fun, play one hole at a time and see what happens."

Lincicome is considered one of the longest hitters on the LPGA Tour.

In 2003, Annika Sorenstam competed in the Colonial Tournament, becoming the first woman to play in a PGA Tour event since Babe Zaharias, who qualified for the 1945 Los Angeles Open.

Sweden's Sorenstam shot a five over par, tying for 96th out of the 111 and missed the cut.

Early in her career, American Michelle Wie delayed her decision to officially join the women's tour saying she hadn't decided whether to play on the womens or the men's PGA Tour full-time.

New data for German economy

01-08-2011 09:15 BJT Special Report:Vice Premier Li Keqiang Visits Europe |

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Also in Germany a series of data has been released on the country's economy. It shows strong growth in domestic demand but lower retail figures.

New figures from Germany paint a mixed picture about the state of Europe's largest economy.

The trade surplus has narrowed to 11.8 billion euros, around 15.3 billion U.S dollars, with import figures up by a forecast beating 4.1 percent.

That figure points to strong growth in domestic demand, however retail figures for the same month were surprisingly lower, down 2.4 percent.

Reuters Macro Economics editor Nick Edwards has been looking at the data and says it presents a positive picture.

Nick Edwards, Reuters Macro Economics editor, said, "Well the most important thing to look at here is the import data number, because that's really indicative of what's happening in the broader German economy. Those imports are going to be re-exported and there's also a sense there that the German consumer is going to be buying. So whilst the retail sales number's dipped, look at the import data because that is the broader sense of what's happening in the German economy.''

Exports, often considered the backbone of the country's economy, were also up by 0.5 percent which was slightly lower rise than forecast.

Other countries in the euro zone are eyeing how much the Germans are spending hoping it'll help their own ailing economies.

Nick Edwards, Reuters Macro Economics editor, said, "Well the bigger picture is that Germany is the core of the euro zone economy and is the engine of growth. It's manufacturers are wanted around the world and you see that through rising exports and you see an economy that is developing a robust domestic sector to go with that.''

Whilst many other countries continue to grapple with their debt crises, Germany is emerging rapidly from its deepest post war recession.

It's economy is expected to have grown by between 3 and 4 percent last year, signalling it's in full swing with strong domestic demand underway.

Editor:Zhang Pengfei |Source: CNTV.CN

UK banks want people's money to return

01-08-2011 09:11 BJT

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After experiencing the financial crisis and the collapse of banks, people are afraid of losing their money in banks.

Researchers say more than one in 10 Britons save money at home rather than using financial institutions. Now, it's time for bankers to take action to restore people's confidence.

Almost three years ago Karoline Rutrecht would have thought twice about withdrawing money from her account.

She was close to losing all her savings when Icelandic bank IceSave collapsed.

Karoline had 3500 pounds, just over 5,400 U.S dollars, invested in an IceSave account.

Now more confident about how she spends her pennies, she said she's still cautious when it comes to banking.

Karoline Rutrecht, said, "I do my homework a lot more, looking for the best interest rate or the, I guess the lowest account keeping fees around sort of isn't my top priority anymore. It's looking to see that my money will be covered should something happen."

Karoline managed to get her money back through the Financial Services Compensation Scheme.

It guarantees savings of up to 85,000 pounds if an institution goes bust.

Research from the FSCS shows more than one in 10 Brits save their money at home rather than using financial institutions.

The report also claims there's 7 billion pounds in cash stored across UK households.

The FSCS wants to raise awareness about their savings safety net, Mark Neale is its CEO.

Mark Neale, Chief Executive, Financial Services Compensation Scheme, said, "Ultimately I would like everyone every adult to be aware that their money in banks, building societies, insurers, their investments is protected bt the Financial Services Compensation Scheme so that people do consume those products with confidence, aware of the protection that we provide, and aware of the conditions under which that protection operates."

Britain typically is a nation of spenders rather than savers.

Although splashing out can stimulate the economy lifting it out of recession, not saving can also impact the market in the long run.

Martin Shaw is from the Association of Financial Mutuals which manages and protects savings.

Martin Shaw, Chief Executive, Association of Financial Mutuals, said, "I think the financial crisis and the failure of some of the big banks has lead people to be more cautious about trusting their money in the banks. So even though there's a compensation scheme in place, not everybody knows about it, and those people that do know about it don't altogether believe that putting their money in the bank is necessary."

With the FSCS' awareness campaign now firmly in place they're hoping to stop people like Karoline from turning their back on the banks.

Editor:Zhang Pengfei |Source: CNTV.CN

US: Years for jobs to come back

01-08-2011 09:11 BJT

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US Federal Reserve Chairman Ben Bernake will later make his way to Capitol Hill to appear before the Senate Budget Committee for its first meeting of the 112th Congress.

He says there is increasing evidence that a "self-sustaining" economic recovery is taking hold but the Fed's 600 billion US dollars Treasury bond-buying program is still needed because it will take years for unemployment to drop to more normal levels.

Federal Reserve Chairman Ben Bernanke says the U.S. economy may be finally hitting its stride, even though growth remains too weak to put a real dent in the nation's jobless rate.

Ben Bernanke, Federal Reserve Chairman, said, "The economic recovery that began a year and a half ago is continuing, although, to date, at a pace that has been insufficient to reduce the rate of unemployment significantly."

Bernanke's testimony before the Senate Banking Committee came just after the Labor Department that the nation's jobless rate dropped to 9.4 percent while adding 103,000 new jobs in December. Analysts say the drop in the unemployment rate was partly due to a troubling rise in the number of people exiting the workforce.

Ben Bernanke, Federal Reserve Chairman, said, "With output growth likely to be moderate in the next few quarters and employers reportedly still reluctant to add to payrolls, considerable time likely will be required before the unemployment rate has returned to a more normal level. Persistently high unemployment, by damping household income and confidence, could threaten the strength and sustainability of the recovery."

Analysts say the economy will need to add more than 125,000 new jobs per month in order to improve the overall unemployment situation.

Editor:Zhang Pengfei |Source: CNTV.CN