PM: Castro accepted apology for Hilton snub
PRIME Minister Kamla Persad-Bissessar yesterday said she personally offered an apology to Cuban President Raul Castro after her Government was forced to relocate the Fourth Caricom/Cuba Summit.
“When I met His Excellency, President Castro, I said to him that I’m sorry about what had happened. I told him that to his face. He said he understands and it’s not the first time he has faced a blockade from the US and they have been living under that for many, many years,” Persad-Bissessar told reporters at the Prime Minister’s Children’s Christmas Treat at Skinner Park, San Fernando.
Persad-Bissessar said when she apologised to Castro, the Cuban leader assured her he had not been offended by the decision to relocate the Summit, reiterating that his country had been blockaded for the past 50 years.
“So he was very happy to be here. His visit was very beneficial for us and I do believe for Cuba as well.”
Persad-Bissessar’s comment came hours after former prime minister, Patrick Manning, had called on the PP Government to formally apologise to Castro for the situation, saying one of the country’s key allies had been embarrassed.(See page 20)
Government was forced to hold the two-day summit, which concluded on Thursday, at the National Academy for the Performing Arts (NAPA), when it did not get permission to use the initially selected venue, Hilton Trinidad, after its proprietors in the United States intervened.
Persad-Bissessar also commented on the threat by the trade union movement to engage in a national shutdown, saying she did not believe the nation would be brought to a complete halt by the labour movement.
“I heard people threatening to shut down the country. It has not shut down yet. I am not of the view that the country will be shut down, but the unions are entitled to act within the law to further their interests,” Persad-Bissessar said.
Persad-Bissessar also said the country’s economy was performing “very well”, in spite of the global economic crisis which had crippled several countries.
NEWSDAY
Pope Benedict XVI plans visit to Cuba and Mexico in 2012
Pope Benedict XVI will visit Cuba next year, Vatican officials have announced.
It will be the second visit of a pope to the Communist-run island, following a trip there by John Paul II in 1998.
The Vatican said it would announce the exact dates of his visit on Monday. A Cuban Church leader said the pope would meet government officials.
The Cuban church has played an important role in negotiating the release of dozens of political prisoners in recent years.
Officials said that Pope Benedict was also considering visiting Mexico as part of the same trip.
The head of the Cuban Bishops Conference, Monsignor Jose Felix Perez, said the pontiff had "a special affection toward the people of Cuba for the social conditions in our country".
During his 1998 visit, John Paul II called on "Cuba to open to the world, and the world to open to Cuba" at a packed Mass in Revolution Square in Havana.
Monsignor Perez said Benedict would meet members of President Raul Castro's government.
But he stressed that the primary purpose of the pope's visit would be to honour the patron of Cuba, the Virgin of Caridad del Cobre.
Howard requested trade to Nets
Orlando Magic center Dwight Howard has requested a trade to New Jersey, a source close to the situation confirmed to SI.com.
Magic general manager Otis Smith told the Orlando Sentinel on Saturday afternoon that Howard had requested a trade, and Yahoo! Sports first reported that his destination of choice was the Nets. It was the latest twist in what was already a surreal story, as Howard's alleged meeting with Nets officials on Thursday had sparked an investigation by the Magic as they considered filing tampering charges against New Jersey. Howard's agent Dan Fegan told reporters on Friday night that he had been given permission to explore trades with the Nets, Mavericks and Lakers, and the question now becomes how Smith will proceed with the future of the franchise.
The Magic are determined not to be devastated by the loss of a superstar center like they were when Shaquille O'Neal left for the Lakers as a free agent in 1996, and sources close to the team said there will be no rush to judgment on Howard's fate, no matter how uncomfortable the relationship might get leading up to the March trade deadline. When Howard requested a trade earlier this week, the source said he was told the Magic wouldn't succumb to the mounting pressure and that Howard should be prepared to play for the Magic for the foreseeable future. And considering the team's decision to continue to pursue tampering charges against the Nets, the dynamics involved to get a deal done with New Jersey would appear to be quite complex at the moment.
"They did not have permission to talk to him," Magic CEO Alex Martins said regarding the Nets' alleged visit with Howard in Miami that was first reported by SI.com and said to include New Jersey owner Mikhail Prokhorov. "We're continuing to gather the information based on the stories, and we'll evaluate whether we're going to take any action once we have all of our information."
According to ESPN.com, the Nets are prepared to offer center Brook Lopez and two future first-round draft picks while agreeing to take back small forward Hedo Turkoglu (three years and a combined $35.1 million remaining) in a possible deal. Howard is set to become a free agent next summer, and his possible pairing with Nets point guard and fellow 2012 free agent Deron Williams could create the league's latest star-studded squad just as the team moves to Brooklyn next season.
But there were no guarantees that proposal would be enough even before the turmoil began, let alone now that the Nets could be facing significant fines from the league and the possible loss of draft picks should Orlando proceed with its case. Meanwhile, the Nets this week offered free agent center Nene a four-year, $60 million deal, which the New York Daily News reported has since been increased.
Any possibility of Howard joining the Lakers are on hold as they attempt to finalize a deal with the Rockets and Hornets that would send point guard Chris Paul to L.A. The original three-team proposal involving Paul would have allowed the Lakers to retain center Andrew Bynum, whom they could possibly use in a future deal for Howard. Since the league vetoed the initial proposal and the teams have submitted a revised one to the NBA, it's unclear if L.A. will still have the ability to make such a play.
The Mavericks are exploring their big man options as well after Tyson Chandler jumped to New York. The Mavs' latest pursuit is a possible sign-and-trade with Sacramento that would give them free agent center Samuel Dalembert.
Premier League/ Man Utd 4 - 1 Wolverhampton
Wayne Rooney and Nani both scored twice as Manchester United gave the perfect response to their Champions League exit with a commanding win over Wolves.
Nani cut inside from the left and blasted the opener into the corner before Rooney made it 2-0 with a low drive from the edge of the area.
Steven Fletcher gave Wolves a lifeline with a header just after half-time.
But United hit back with Antonio Valencia setting up Nani for a tap-in and crossing for Rooney to rifle home.
United put their miserable surrender in Basel behind them in a display brimming with positive intent and attacking verve.
And in the week when Rooney's three-match England ban was reduced to two by European football's governing body Uefa, the striker ended an eight-game Premier League goal drought with two authoritative finishes.
While Wolves boss Mick McCarthy's decision to field an attacking 4-4-2 formation merely played into United's hands, United boss Sir Alex Ferguson's tactics paid off, as he made four changes to the side that lost 2-1 in Switzerland.
Phil Jones produced a confident attacking performance alongside Michael Carrick in midfield and Valencia - brought in at Ashley Young's expense - proved a constant threat on the right wing.
The victory ensured United closed the gap on Premier League leaders Manchester City to two points, with Roberto Mancini's side heading to Chelsea on Monday.
The game might have taken a different course had Fletcher not sliced wide after being teed up in space on the edge of the box in the first minute.
But United soon settled into their rhythm, with Valencia enjoying plenty of space down the right and crossing for Carrick, whose diving header flew just over the bar.
Carrick then played a ball inside right-back Ronald Zubar for Rooney, whose shot from a tight angle was sharply saved by Wayne Hennessey.
Moments later, Nani cut in from the left-hand side before unleashing a powerful shot into the corner from 20 yardsThe second goal arrived in similar fashion, with Rooney this time darting across the edge of the box and smashing a shot through a crowd of players past an unsighted Hennessey.
Wolves got themselves back in the game shortly after half-time as Matt Jarvis crossed from the left for Fletcher to head his 11th goal in 16 games into the roof of the net.
The goal only served to reawaken United, who re-established their two-goal lead when Jones threaded a pass to Valencia, who crossed low for Nani to convert from six yards.
Valencia rounded off a fine afternoon's work with the assist for the fourth goal as his cross picked out Rooney to beat Hennessey with a powerful low shot on the turn.
Another marauding run from Jones almost produced a fifth goal but Hennessey did well to foil Federico Macheda at the near post.
Wolves' sixth away league defeat in eight games leaves them just three points clear of the relegation zone.
Premier League results
10 Dec 2011 23:59 UK
- Arsenal 1-0 EvertonFT
- Bolton 1-2 Aston VillaFT
- Liverpool 1-0 QPRFT
- Man Utd 4-1 WolvesFT
- Norwich 4-2 NewcastleFT
- Swansea 2-0 FulhamFT
- West Brom 1-2 WiganFT
Premier League table snapshot
As it stood on 10 Dec 2011 23:59 UK
| Position | Team | P | GD | PTS |
|---|---|---|---|---|
| 1 | Man City | 14 | 35 | 38 |
| 2 | Man Utd | 15 | 21 | 36 |
| 3 | Tottenham | 13 | 13 | 31 |
| 4 | Arsenal | 15 | 8 | 29 |
| 5 | Chelsea | 14 | 14 | 28 |
| 6 | Liverpool | 15 | 5 | 26 |
| 7 | Newcastle | 15 | 2 | 26 |
| 8 | Aston Villa | 15 | -1 | 19 |
| 9 | Norwich | 15 | -4 | 19 |
| 10 | Stoke | 14 | -9 | 18 |
| 11 | Swansea | 15 | -4 | 17 |
| 12 | Everton | 14 | -3 | 16 |
| 13 | QPR | 15 | -11 | 16 |
| 14 | Fulham | 15 | -2 | 15 |
| 15 | West Brom | 15 | -9 | 15 |
| 16 | Wolves | 15 | -12 | 14 |
| 17 | Wigan | 15 | -15 | 12 |
| 18 | Sunderland | 14 | -1 | 11 |
| 19 | Blackburn | 14 | -11 | 10 |
| 20 | Bolton | 15 | -16 | 9 |
Judge grants WIPA injunction extension
Trinidad and Tobago High Court Justice Ricky Rahim has granted an extension to an injunction filed by the West Indies Players Association.
The injunction prevents the West Indies Cricket Board from terminating the Memorandum of Understanding and the Collective Bargaining Agreement between the two sides.
WIPA Executive President Dinanath Ramnarine said his organisation was forced to seek an emergency judicial intervention from the T&T High Court.
Sources said that if current negotiations between WIPA and the regional governing body were not concluded by November 30, the WICB could terminate the current MOU and CBA and this could leave the players at the Board's mercy.
The T&T High Court heard WIPA's application on November 30 and ordered that the agreements and all terms of the MOU and the CBA should be treated as if in full force and effect and binding until determination of the application.
After hearing arguments from attorneys on both sides on Thursday, Justice Rahim ordered that the injunction continue and requested further submissions in writing in January.
This means that the terms of the current agreements remain in force until the matter comes up again on January 19, when the judge will decide whether to discharge the injunction or to grant a permanent injunction.
CMC
Gayle will miss Caribbean T20
Chris Gayle will be a non-starter for Jamaica in the Caribbean Twenty20 Champion-ship next month.
Media reports indicated that the estranged West Indies opener will not be released by the Sydney Thunders franchise during the Big Bash Twenty20 tournament, which will be contested in Australia at the same time the regional tournament is unfolding.
Gayle hinted that he would try to make himself available for Jamaica in a bid for them to complete a sweep of the major regional titles after leading the national side to victory in the Regional Super 50 tournament last October in Guyana.
new selection policy
His unavailability almost rules him out of the Twenty20 World Cup next September in Sri Lanka in light of the West Indies Cricket Board's new selection policy.
Players must now make themselves available to their regional territorial side in the format of the game for which they hope to be selected for West Indies during the ensuing year.
Gayle has not played for West Indies since the World Cup on the Asian subcontinent earlier this year, following a disagreement with the WICB over his contentious comments in an interview with a Jamaican radio station.
Efforts to resolve the matter have proved futile with the WICB demanding an apology from Gayle and the talismanic batsman openly refusing to budge.
Tamar Lambert, the regular captain of the national team in the regional first-class championship, has been overlooked for the second year in a row.
Out-of-favour West Indies duo of batsman Xavier Marshall and fast bowler Andrew Richardson, two other members of the side that won the RS50, have also missed out.
They are two of the four reserves named by the National Selection Panel, along with Simon Jackson and Damion Jacobs.
Former youth players Andre McCarthy and Kennar Lewis are both set to make their debuts, after they were included in the 14-member squad.
All-rounder Dave Bernard Jr missed the recent RS50 while recovering from knee surgery, but returns to the squad and will captain the side.
Marlon Samuels, Danza Hyatt and Andre Russell are now on West Indies duty in India and have been included, along with Windies wicketkeeper/batsman Carlton Baugh Jr.
Jamaica have been slotted into Group-B, where their opponents will be the Netherlands, Sussex, Combined Campuses & Colleges, and co-hosts Barbados.
The CT20 opens on January 9.
Dave Bernard Jr (captain), Carlton Baugh Jr, Nkrumah Bonner, Odean Brown, Sheldon Cotterrell, Shawn Findlay, Danza Hyatt, Kennar Lewis, Andre McCarthy, Horace Miller, Nikita Miller, Andre Russell, Marlon Samuels, Krishmar Santokie
(CMC)
Chevron sells Caribbean gas stations
Puma Energy Caribe LLC says it has agreed to buy all of Chevron’s gasoline stations and underground storage tank facilities in Puerto Rico and the US Virgin Islands. The Swiss oil company says it will sign an undisclosed multimillion dollar agreement with Chevron Corp after regulators approve the deal. Puma said late Thursday it would buy 185 Texaco-brand gas stations in Puerto Rico and seven stations in the US Virgin Islands. Last year, the company bought the old Caribbean Petroleum Company fuel storage facility along with 147 service stations through a court-ordered bankruptcy sale.
AP
Oil prices rise as EU closes in on new treaty
in New York. Brent crOil prices rose for the first time in three days, as the European Union moved closer to a plan that promises to fix the eurozone debt crisis. Benchmark crude rose US$1.07 yesterday to end the week at US$99.41 per barrel ude, which is used to price foreign oil imported by some US refineries, added 53 cents to finish at US$108.47 in London. Massive debts in several European nations have rattled investors for months. Experts say the eurozone is headed back into recession, and a drop in energy demand and consumer spending is inevitable given the series of government spending cuts under way in numerous eurozone nations.
It’s still unclear how bad the economy will get in Europe and whether leaders can halt spiraling debts that threaten the banking system. Oil prices and stock markets have wavered most of the week as perceptions shifted about the proposed financial reforms within the eurozone. After falling Wednesday and Thursday, oil prices turned higher as the European Union closed in on a new treaty that would further integrate their finances in an attempt to save the euro. Almost all of the 27 countries in the EU, with the exception of the UK, support a more intimate financial relationship that would allow more central control and require balanced budgets.
Major US stock indexes rose between one and two per cent in afternoon trading. Natural gas prices dropped by four per cent as some parts of the country continued to see above-average temperatures. Natural gas prices fell by 14 cents to end at US$3.3170 per 1,000 cubic feet in New York. In other energy trading, heating oil fell by 1.73 cents to end at US$2.9125 per gallon. Gasoline futures rose by 2.95 cents to finish at US$2.5961 per gallon.
AP
Bank of England holds interest rate at 0.50 per cent
THE Bank of England (BoE) on Thursday held its key interest rate at a record low 0.50 per cent, where it has stood for almost three years, amid ongoing turmoil for Britain's economy and the eurozone.
The BoE's Monetary Policy Committee (MPC) also voted to keep its economic stimulus at 275 billion (323 billion euros, $432 billion), to help boost lending by banks, it said in a statement issued after a two-day meeting.
The news, which was in line with market expectations, came shortly before the European Central Bank (ECB) cut its own interest rate by a quarter point to 1.00 per cent as the eurozone courts recession and EU leaders seek to save the euro.
Economists said the Bank of England would want to see inflation subside before pumping more cash into the economy — and await the outcome of this week's crucial EU summit on trying to avert a eurozone break-up.
"The committee seems to think that there is merit in holding on a bit to check that inflation has peaked, to assess the impact of the asset purchases so far and to see what comes out of this week's meeting of eurozone leaders," said Capital Economics analyst Vicky Redwood.
Although not a member of the eurozone, Britain, a member of the European Union, is a key trading partner of the single-currency area.
The BoE's main interest rate has stood at 0.50 per cent since March 2009, when the bank also began injecting 200 billion into the economy under the policy known as quantitative easing (QE).
The Bank of England decided in October to increase the amount by 75 billion, as Britain's economy struggles to recover from recession.
QE is a process whereby central banks create new cash that is used to purchase assets such as government and corporate bonds in the hope of giving a boost to lending and economic growth.
However, some analysts argue that quantitative easing -- which is in effect printing money -- stokes inflationary pressures. It is the technique being pressed upon the ECB to stop the eurozone debt crisis from worsening.
Despite recent falls, British inflation remains stubbornly high, driven largely by high energy costs. Official 12-month inflation fell to a rate of 5.0 per cent in October from a three-year high of 5.2 per cent in September.
The BoE's key remit is to keep annual inflation close to a 2.0-per cent target.
The British economy, which clawed its way out of a vicious recession in the third quarter of 2009, is currently buckling under the pressure of the eurozone debt drama, state austerity measures and high inflation.
The government has forecast the British economy to grow by just 0.7 per cent next year, sharply down from an official estimate of 2.5 per cent given in March, and blamed the impact of the eurozone debacle.
British Finance Minister George Osborne, delivering more austerity measures last week, warned that the economy will enter a double-dip downturn if the eurozone slumps back into recession.
"Given the ongoing crisis in the eurozone and significant chance of recession there, it is likely to be a major challenge for the UK economy to avoid recession," said economist Charles Davis at the Centre for Economics and Business Research consultancy.
"The UK recovery is strongly reliant on export growth as domestic demand remains weak due to falling household real incomes, cuts in public spending and private sector uncertainty holding back investment activity.
"With 50 per cent of UK goods exports heading to the eurozone, it would be incredibly hard for the UK to avoid a hit to real economic activity as output contracts on the continent," he added.
The BoE added yesterday that it expected its current QE stimulus programme to take another two months to complete, adding that the scale of the asset purchases would be kept under review.
Analysts said they expected the BoE to provide more stimulus cash early in the new year.
"No action from the Bank of England this month, but more quantitative easing is clearly on the cards for early 2012," said IHS Global Insight economist Howard Archer.
"We expect the QE trigger to be pulled again in February, with a 50-billion bullet loaded."
Stocks close higher as Europe nears budget pact
A deal to forge stronger ties between most of Europe’s economies sent stocks sharply higher Friday as hopes grew that the region is close to resolving its debt crisis. The Dow Jones industrial average rose 186 points. All 17 nations that use the euro agreed to sign a treaty that allows a central European authority closer oversight of their budgets. Nine other EU nations are considering it. Britain is the lone holdout. The agreement came after marathon overnight talks among European leaders at a two-day summit in Brussels. A deal on tighter fiscal control is considered a crucial step before the European Central Bank will consider committing more money to lower borrowing costs of heavily indebted countries like Italy and Spain by buying their bonds.
Ryan Detrick, senior technical strategist with Schaffer’s Investment Research, cautioned that investors have been disappointed by Europe’s previous efforts to contain its debt crisis. The market will likely remain volatile in the coming weeks, Detrick said, because the Europe plan is “only a minor step” toward a solution. “We’ve seen these agreements before, and they can just as easily deteriorate,” Detrick said. The Dow closed up 186.56 points, or 1.6 per cent, at 12,184.26. It’s up 1.4 per cent for the week. Bank stocks led the market higher, reflecting traders’ optimism about Europe’s progress toward solving its crisis. Citigroup Inc. rose 3.7 per cent, Morgan Stanley 3.2 per cent and JPMorgan Chase & Co. 3 per cent.
Banks have been weighed down for months by fears about their exposure to Europe. The biggest European banks have been downgraded. If Europe’s crisis spins out of control, US banks that do business with them would also suffer. The Standard & Poor’s 500 index closed up 20.84 points, or 1.7 per cent, at 1,255.19. The Nasdaq composite index finished up 50.47, or 1.9 per cent, at 2,646.85. The S&P is up 0.9 per cent for the week, the Nasdaq 0.8 per cent.
The gains were broad. DuPont was the only stock among the 30 in the Dow average to fall. The chemical and materials company slid 3.2 per cent after saying it expects earnings this year will fall well short of Wall Street’s forecasts because of weak demand for electronics and industrial supplies. It was the second consecutive week of gains for all three indexes. Stocks were pummeled two weeks ago as borrowing costs soared for European nations such as Italy. They recovered last week after the world’s major central banks announced a program to give commercial banks easier, cheaper access to loans in US dollars.