Somali Pirates Free Indian Crew of 21
Indian shipping officials say all 21 Indian crew members of a chemical oil tanker held hostage by Somali pirates since August have been released.
An Indian shipping spokesman said late Saturday the crew and the ship, the MV Fairchem Bogey, are heading towards a safe port. He did not give any details of the release, including whether a ransom was paid.
The Marshall Islands-flagged vessel was hijacked August 20 when it was anchored at Salalah port in Oman.
The shipping official said Saturday 22 Indian sailors remain held by Somali pirates on various ships in the Indian Ocean.
Piracy for ransom is an organized and lucrative operation in Somalia that has expanded into a vast area off the country's coast.
International naval forces are patrolling the waters near Somalia. Shipping companies have increasingly taken security measures to prevent hijackings, such as posting armed guards on board, and building “safe rooms” in which crews can lock themselves if pirates board their ships.
Obama requests another $1.2 trillion to pay US costs
resident Barack Obama has formally notified Congress of proposals for a $1.2 trillion (£782bn) rise in borrowing, risking another battle with Republicans.
In a letter, Mr Obama said "further borrowing is required to meet existing (spending) commitments".
Congress has 15 days to vote on the proposal, which would raise the debt ceiling to $16.4 trillion.
Last year the government came close to default in a row over the debt ceiling.
An uneasy truce between was agreed last year over long-term plans to reduce the nation's deficit.
Although the president is expected to be able to increase the debt ceiling, the issue will still give the Republicans more ammunition to claim Mr Obama is failing on deficit reduction.
Mr Obama hoped to increase the limit by 30 December, but the House and Senate requested a delay until they were back in session.
It meant that in order to pay its bills, the administration had to dip into its Exchange Stabilization Fund, a pot of money normally used by the US Treasury to maintain currency stability.
A Treasury official said other measures, such as suspending the daily reinvestments of assets in a government pension fund, may also be needed until the debt-limit increase is secured.
Samsung and LG fined by regulator for price fixing
South Korea's antitrust regulator has fined Samsung Electronics and LG Electronics for conspiring to fix the prices of some appliances.
The companies face a penalty of 44.6bn won ($39m; £25.2m), said the Fair Trade Commission (FTC).
The regulator said the two firms held secret meetings in 2008 and 2009 to agree on prices for washing machines, flat-panel TVs and laptop computers.
Samsung and LG are the largest makers of the products in South Korea.
"Their price rigging caused damage to many consumers by leading the prices of washing machines, flat-panel TVs and laptop computers to rise more than other competing products," the FTC said.
Samsung was fined 25.8bn won, while LG was fined 18.8bn won.
Apple ends China iPhone store sales after launch issues
Apple has said it will halt the sale of all iPhone models from its stores in China, after large crowds disrupted the launch of the iPhone 4S.
An Apple store, in the Sanlitun area of Beijing, did not open on Friday after a large crowd gathered outside in anticipation of the launch.
The crowd became unruly, throwing eggs and scuffles broke out with police.
China is the world's largest mobile phone market, and Apple's second-biggest market.
The iPhone 4S, which has voice-activated functions, was being introduced through official Apple stores in China for the first time.
Tough market
Apple said in a statement that it decided not to open its store at Sanlitun "due to the large crowd, and to ensure the safety of our customers and employees".
It also said that it was halting the sale of iPhones at all retail stores in Beijing and Shanghai "for the time being".
However, Apple said Chinese customers can still purchase the phones either through the Apple online store or at China Unicom and other authorized sellers.
The decision came despite the fact that other stores in Beijing and Shanghai opened without incident and reported rapid sales.
Apple said all iPhone 4Ss were now sold out in stores in China.
'Broke hearts'
Crowds began gathering outside of Apple stores overnight and in the early morning, and police were deployed to a number of stores to help control the crowds.
Eggs were thrown at Apple's Sanlitun store in Beijing after it failed to open on Friday at 07:00 local time (23:00 GMT Thursday) as advertised.
When it was announced that the store would not be opening there were shouts of "open the door" and "liar".
Customers at the Sanlitun store said they were disappointed not to be walking away with any purchases.
"I've been waiting here since yesterday afternoon, then this morning they say they won't sell," a man in his 20s told Reuters TV. "They broke customers' hearts," the man said.
By about 10:00 local time in Beijing the crowds had cleared the area in front of the store.
Beowulf, First Reserve sign on for Caribbean pipeline
The Eastern Caribbean Gas Pipeline project has acquired two new majority owners — Beowulf Energy LLC (Beowulf) out of New York and First Reserve Energy Infrastructure Fund (FREIF), which has offices in Greenwich, Houston, Hong Kong and London.
The news was announced this week by the Eastern Caribbean Gas Pipeline Company, which is developing a natural gas export pipeline from Trinidad and Tobago to islands in the Eastern Caribbean. Speaking to Newsday yesterday, chief executive of ECGPC Gregory Rich said having both companies on board is an achievement.
“It is the achievement of a goal ECGPC has had since its inception — to get sponsors with industry expertise, credibility and the necessary money, to ensure this pipeline is built and managed to the highest standards,” Rich said.
“The deal was signed Tuesday evening, with documents being faxed back and forth. First Reserve’s decision to invest in this project is a sign of just how advanced our legal, contractual and regulatory approvals really are. They are the bigger monetary investor and they don’t get involved in a project unless they’re confident it will get done.
Beowulf is known for its expertise in these types of projects and is already familiar with Trinidad, as it operates and manages Trinity Power in Pt Lisas.”
The estimated cost of the project is now US $900 million, up from last year’s reported estimate of US$800 million. In 2006, three years after the project was launched, it was valued at US$550 million.
In Phase I of the project, ECGPC will construct and operate a 300 kilometre natural gas pipeline from the Cove Point Estate in Tobago to Barbados. Phase II involves extending the pipeline from Barbados to other Eastern Caribbean islands.
Eastern Caribbean Gas said the gas pipeline is expected to significantly lower the cost of producing electricity in countries such as Barbados which rely primarily on fuel oil to produce electricity.
ECGPC is a company incorporated under the Trinidad and Tobago Companies Act of 1995. Prior to the transaction being announced herein, the shareholders in ECGPC were Guardian Holdings Limited, Trinidad and Tobago Unit Trust Corporation, The National Gas Company of Trinidad and Tobago Limited and Intra-Caribbean Gas Pipeline Company Limited.
Japan PM Shuffles Cabinet to Win Support for Tax Hike Proposal
Japanese Prime Minister Yoshihiko Noda reshuffled his cabinet on Friday in an attempt to gain cross-party support for a controversial plan to raise the country's sales tax.
Mr. Noda replaced five government ministers but he left 12 posts unchanged, including finance minister and foreign minister.
Naoki Tanaka will replace Yasuo Ichikawa as defense minister, while Jin Matsubara takes over as consumer affairs minister for Kenji Yamaoka. Both had been censured by the opposition for comments that were deemed inappropriate.
Mr. Noda also appointed Katsuya Okada – a widely respected former foreign minister – to be his deputy prime minister. The political veteran is expected to head up government efforts to reduce Japan's massive deficit by reforming the social security and tax system.
In particular, Mr. Noda is trying to gain opposition support for an unpopular plan to double a consumer sales tax to 10 percent by 2015. He has promised to submit the proposal during the current session of parliament.
Mr. Noda, who took office in September, is facing declining popularity ratings. Growing public criticism of the tax hike proposal has already prompted several members of his Democratic Party of Japan to quit in protest.
The DPJ says the increase is necessary to help pay for rising social security costs in the rapidly aging country.
Japan faces a historic level of debt as it continues to recover from last March's earthquake and tsunami — one of the costliest natural disasters in world history.
US Marines identify 'urination' troops
At least two of four US Marines shown in a video appearing to urinate on Taliban corpses have been identified, a Marine Corps official has told the BBC.
The video, which was posted online, purports to show the Marines standing over the bodies of several Taliban fighters, at least one of whom is covered in blood.
The Marines have begun a criminal investigation and an internal inquiry.
US officials and Afghan officials have condemned the video as "deplorable".
The Taliban condemned the video, but said it would not affect the political process.
The origin of the video is not known, but it was originally posted to YouTube. It has not been verified but correspondents say all indications are that it is authentic.
The BBC's Steve Kingstone says the official would not confirm the Marines' whereabouts, but reports suggested the unit involved was based at Camp Lejeune, North Carolina - a major military base.
US media reported that the unit belonged to the 3rd Battalion, 2nd Marine Regiment.
That battalion has been deployed to a wide range of combat and peacekeeping situations, from Iraq, Afghanistan and Guantanamo Bay to fighting wildfires in Idaho.
The unit deployed to Afghanistan in early 2011 and returned in September or October, CNN reported.
A US Marines spokesman, Lt Col Joseph Plenzler, told the AFP news agency that "we cannot release the name of the unit at this time since the incident is being investigated".
'Total dismay'
Earlier, US Defence Secretary Leon Panetta condemned the acts shown in the video and vowed that a full investigation would be carried out by the Marines and the Kabul-based International Security Assistance Force (Isaf).
"This conduct is entirely inappropriate for members of the United States military," Mr Panetta said in a statement.
The US defence secretary said he had seen the footage, and the Pentagon confirmed that he had spoken by telephone with Afghan President Hamid Karzai.
Mr Karzai condemned the attacks in strong terms.
"I find the behaviour depicted in it utterly deplorable. This conduct is entirely inappropriate for members of the United States military," he said.
In a separate news conference, Secretary of State Hillary Clinton expressed her "total dismay" at the video.
Mrs Clinton said she shared Mr Panetta's view that such behaviour was inconsistent with the standards "that [the] vast, vast majority of our personnel - particularly our marines - hold themselves to".
The video did not change the nature of US efforts to secure Afghanistan, she said, saying the US continued to support security and reconciliation efforts that were "Afghan-led and Afghan-owned".
Tentative moves are being made towards peace in the country, ahead of the planned withdrawal of international combat forces by the end of 2014.
The US has about 20,000 Marines deployed in Afghanistan, based mostly in Kandahar and Helmand provinces. In total, about 90,000 US troops are on the ground in Afghanistan.
The Taliban said last week that they were working to set up a political office, possibly in Qatar, that would help to facilitate negotiations with the Afghan government and Nato countries.
US special envoy Marc Grossman will go to Qatar and Afghanistan next week in support of further talks.
Taliban spokesman Qari Yousuf Ahmadi told the BBC that this was not the first time Americans had carried out such a "wild action" and that Taliban attacks on the Americans would continue.
But a different Taliban spokesman, Zabihullah Mujahid, said the video "is not a political process, so the video will not harm our talks and prisoner exchange because they are at the preliminary stage".
However Arsala Rahmani, a senior member of the Afghan government's High Peace Council, told Reuters the video would "leave a very, very bad impact on peace efforts".
The Taliban are known for applying a ruthless brand of Islamic Sharia law in areas they control and have carried out many suicide bombings and attacks which have killed civilians.
Pakistan’s President Returns Home
Pakistan's president has returned home from a trip to Dubai, amid growing tensions between Pakistan's civilian government and the military.
Pakistan officials say Asif Ali Zardari returned to Islamabad early Friday.
Authorities said Mr. Zardari made the one-day trip to the United Arab Emirates to attend a wedding. They said the trip was not linked to the current crisis in Pakistan.
The president's trip came as army chief General Ashfaq Parvez Kayani met with top commanders on Thursday. Officials said the senior military officers discussed the “prevailing situation.”
The crisis between the government and military stems from an unsigned memo that allegedly sought U.S. help to prevent a military coup in Pakistan.
Pakistan's Supreme Court is investigating the memo, which was allegedly sent by a Pakistani official to the U.S. military last year.
On Wednesday, Prime Minister Yousuf Raza Gilani fired Defense Secretary Naeem Khalid Lodhi for his role in submitting statements to the Supreme Court made by two top security officials.
Mr. Gilani also accused the two officials, army chief Kayani and Inter-Services Intelligence head Lieutenant General Ahmad Shuja Pasha, of acting unlawfully by making unilateral submissions to the Supreme Court inquiry.
Those remarks prompted Pakistan's military on Wednesday to warn of “grievous consequences” for the country.
A Supreme Court-appointed panel is investigating the origins of the unsigned memo, in which Pakistan's civilian government asked for U.S. help in reining in the Pakistani military, following the U.S. raid that killed Osama bin Laden last May.
The existence of the memo surfaced in October when Pakistani-American businessman Mansoor Ijaz accused the then-Pakistani Ambassador to the U.S., Husain Haqqani, of writing the memo. Haqqani denies he wrote the document and has since resigned.
Burma Begins Releasing Political Prisoners
Burma has begun releasing some prominent political prisoners as part of a government amnesty program, in the latest move toward political reform by the country's military-backed government.
Burmese state media said that 651 detainees were being freed under a presidential pardon in order to take part in “nation-building.”
Family members said prominent democracy activist Min Ko Naing was among those released. Min was a key student leader in the 1988 pro-democracy uprising that was brutally suppressed by the country's former military junta. Some reports also suggest the amnesty may include Shin Gambira – a Buddhist monk who led street protests in 2007.
The United States and European Union say they will not end economic sanctions until Burma's new, nominally civilian government frees all of its political prisoners.
President Thein Sein released about 230 political detainees in October. But around 1,000 political prisoners are thought to still be in Burmese prisons.
Friday's prisoner release comes a day after the Burmese government signed a cease-fire deal with the ethnic Karen rebel group, in an apparent move toward ending one of the world's longest-running insurgencies.
The agreement marks the first declared break in fighting between the government and the rebel force since just after the country gained independence from Britain in 1948.
Meanwhile, a leading congressional voice behind U.S. sanctions on Burma, Senator Mitch McConnell, says he will begin a three-day visit to the country on Sunday to assess political reforms. He plans to meet pro-democracy activist Aung San Suu Kyi and government officials in his first ever trip to Burma.
Another U.S. congressman, Representative Joe Crowley, is currently in Burma to encourage the government's reform efforts.
After landmark visit to Burma in November, U.S. Secretary of State Hillary Clinton suggested that Washington would consider lifting its sanctions against Burma's new government if it continues reforms.
Manny Pacquiao accepts Floyd Mayweather's latest challenge
Manny Pacquiao has accepted Floyd Mayweather's challenge for a showdown in May, but barriers remain in the way of a possible super-fight.
On Wednesday, Mayweather demanded Pacquiao "give the world what they want to see" and agree to a bout on 5 May.
And while Pacquiao said he wanted the fight, he said he favours a date in late May and suggested Mayweather could not guarantee his side of the purse.
"This is the fight the world wants," said Philippine superstar Pacquiao.
"[But] Mayweather wants a guaranteed purse so what he has to do is get a promoter who can give him the guarantee.
"I don't have problems getting a guarantee because I have a promoter who will give me my guaranteed purse.
"If he gets a guarantee, then we are going to share the revenue on a 50-50 basis."
Pacquiao's promoter Bob Arum added: "There is no problem on our part - the problem is on Mayweather's.
"Mayweather needs somebody on his side that's going to guarantee his purse. Mayweather has nobody on his side and GBP (Oscar de la Hoya's Golden Boy Promotions) is not going to guarantee his purse."
Arum and Pacquiao's financial advisor, Michael Koncz, want a bout in late May to coincide with the completion of a 45,000-seater arena in Las Vegas.
The MGM Grand, where Mayweather is booked to fight on 5 May, has a capacity of only 17,000 and Koncz claims an additional $30m (£13m) could be raised if the bout took place in the new venue.
"Why would I tell Manny to fight on 5 May and throw away a percentage of $30m? That's crazy," said Koncz.
Last week, five-weight world champion Mayweather had a 90-day jail term deferred so that he could fulfil a pre-arranged date at the MGM Grand. He will now begin his sentence on 1 June.
The WBC welterweight champion subsequently used his Twitter account to challenge Pacquiao.
"Step up Punk," said the undefeated American. "Manny Pacquiao I'm calling you out let's fight May 5 and give the world what they want to see (sic)."
A year ago, talks failed when Pacquiao, 33, pulled out after Mayweather demanded random drugs tests before the bout.
At the time Arum called Mayweather "a psychological coward who doesn't want to fight anybody who has a chance of beating him", and predicted the bout would never take place.
But if the purse on offer matches the £25m-per-fighter deal that was rumoured to be on offer last year, the biggest payday in boxing history may prove persuasive.
Arum insisted that if there was to be no fight in late May against the American then he would move forward with a Pacquiao clash on 9 June against someone else.
He listed a rematch against Mexico's Juan Manuel Marquez or Puerto Rican southpaw Miguel Cotto, as well as Americans Tim Bradley and Lamont Peterson, as potential alternatives.
Seven-weight world champion Pacquiao fought Marquez for a third time in November and retained his WBO title, although, as with the previous two fights, the decision was a controversial one.
Mayweather, who turns 35 next month, won the WBC title with a fourth-round knockout of compatriot Victor Ortiz in September.