Chinese Central Bank to Ease Lending Restrictions

China's central bank has announced plans to lower reserve requirements for the country's banks.

The bank said Wednesday that it will reduce the amount of money banks must hold as reserves by half a percent (0.5) starting December 5.

China's state-run Xinhua news agency says the cut is the first of its kind since December 2008.

The move is the latest in a series of measures aimed at tackling concerns that economic slowdowns in Europe and the United States could lead to reduced growth in China.

Last month, the government's statistics bureau said the nation's economy grew at a 9.1 percent annual pace in the three months through September 30. That compares to 9.5 percent growth in the previous three months.

China's booming economy has been a major engine in the growth of the global economy, but the European debt crisis and high unemployment in the United States have weakened demand for Chinese-made goods.

 

Some information for this report was provided by AP and AFP.


US Senate passes sanctions on Iran central bank

The US Senate has unanimously approved economic sanctions on Iran targeting the country's oil industry, despite warnings the move could backfire.

The measures, passed by 100 votes to nil, would ban foreign firms from doing business with the Iranian central bank.

Before it can become law, it must be approved by the House and President Barack Obama, who is sceptical.

The effort to thwart Iran's alleged nuclear ambitions followed new EU sanctions imposed earlier on Thursday.

Meanwhile, diplomats at the Iranian embassy in London must leave Britain by Friday afternoon.

They were ordered to go after hundreds of Iranian protesters stormed the UK embassy in Tehran on Tuesday.

Oil-price rise?

In recent weeks the US has introduced sanctions against Iran's financial sector, although it has stopped short of targeting the central bank outright.

President Barack Obama has been cautious about harsher sanctions, fearing such a move could disrupt the oil markets at a time of economic uncertainty for many Americans, and alienate potential allies.

US officials have also warned that depriving global markets of Iranian exports could send oil prices sharply higher, gifting Tehran a funding boost.

Unless a compromise is reached, the president will have to decide whether to veto it.

The US has already forbidden its own banks from dealing directly with the Iranian central bank.

Under the new sanctions, drafted by Democrat Robert Menendez and Republican Mark Kirk, foreign banks that do business with Iran's central bank would be cut off from the US financial system.

The sanctions are designed to come into effect after a six-month grace period - in order to give oil markets time to factor them in.

The measures were part of a much larger $662bn (£422bn) defence bill, which also cruised through the Senate on Thursday night.

Europe's new sanctions blacklist 180 Iranian officials and firms, but do not impose an oil embargo on Iran, because some European countries are dependent on Iranian oil.

Ministers meeting in Brussels also agreed on Thursday to work on other measures targeting Iran's energy sector.

The latest round of sanctions follow a recent UN report that linked Iran with the development of a nuclear weapon.

Tehran insists its nuclear programme is strictly for civilian purposes.

Officials say the latest round of sanctions is not related to this week's storming of the UK embassy in Iran.

The British government says all UK diplomatic staff in Tehran have been evacuated and the embassy closed.

Iran has said it regretted the incident, which it described as "unacceptable behaviour by a small number of protesters".


Clinton Offers Rewards for Reforms in Burma

U.S. Secretary of State Hillary Clinton says the United States is ready to support Burma's transition to democracy and will consider re-establishing diplomatic relations if political and economic reforms there take hold.

Secretary Clinton said Thursday during a landmark visit to Burma's capital Naypyidaw that any step Burma's government takes will be carefully considered.

She urged the government to speed up reconciliation efforts by releasing more political prisoners and stop violent campaigns against ethnic minorities. Clinton also urged Burma to end any “illicit” military ties to North Korea and respect international consensus against the spread of nuclear weapons.

She spoke to reporters after a historic meeting with Burmese President Thein Sein who has overseen tentative steps to reform since he took over in March. The former military officer hailed what he called a new chapter in U.S.-Burmese relations.

Later Thursday, the U.S. secretary of state dined with opposition leader Aung San Suu Kyi in her home. The two are scheduled to hold formal talks Friday.

Clinton will also meet with representatives of Burma's ethnic minorities and civil society representatives before departing Burma Friday afternoon.

Clinton is the first U.S. secretary of state to visit Burma in 50 years.

The new Burmese government has released about 200 political prisoners, eased some press restrictions and opened a dialogue with some of its critics, including Aung San Suu Kyi.

The Nobel peace prize laureate was freed from house arrest last year after spending much of the previous 20 years in detention. Her party won a national election in 1990 by a landslide, but was stopped from taking power. She confirmed Wednesday that she will run for parliament in upcoming elections.

The United States and other Western nations imposed sanctions on the former Burmese military government because of its harsh human rights abuses, including military operations against ethnic groups and the jailing of up to 2,000 political prisoners.

Clinton stressed Thursday that the sanctions will not be lifted until Burma makes concrete steps toward democracy.

The Associated Press quoted Burma's state-run newspaper New Light of Myanmar Thursday as saying that a high-level delegation met with a six-man team from the Kachin Independence Organization in China's Yunnan province. Kachin people make up one of Burma's largest ethnic minorities in the north that have had armed clashes with the Burmese army. The report says the two sides agreed to hold more talks toward establishing dialogue and ending violence.


Syria Battling Civil War

The United Nations' top human rights official says Syria's bloody crackdown on anti-government protesters has degenerated into a civil war.

Human Rights Commissioner Navi Pillay told reporters in Geneva Thursday an increasing number of soldiers are defecting and taking up arms against the government. She also said the “reliable information” from Syria indicates the death toll from the past eight months of unrest is far higher than the confirmed U.N. figure of 4,000.

The U.N. Human Rights Council will hold an urgent meeting Friday to discuss the crisis.

But U.S. State Department spokesman Mark Toner said the violence in Syria should not be characterized as a civil war, because, he said, the government is overwhelmingly responsible for the use of force.

Syria has refused to end the crackdown, saying it is a necessary response to attacks by “armed terrorists” on civilians and security personnel.

Meanwhile, a report Thursday by the Russian news agency Interfax says Moscow delivered supersonic cruise missiles to Syria, despite calls from the U.S. and Europe for a weapons embargo against the government.

The European Union said it is tightening sanctions on Syria. EU officials also said they added 11 more entities and 12 more individuals to a blacklist hit by travel bans and asset freezes.

An Arab League committee in Cairo also released a list of 17 Syrians banned from traveling to Arab states. Those banned include the brother of Syrian President Bashar al-Assad, top Cabinet ministers and the country's richest businessman.

Officials say the list and other recommendations will be presented to Arab League members meeting in Doha on Sunday.

Arab League member Kuwait on Thursday urged its nationals to leave Syria due to safety concerns. The move follows mob attacks in Damascus on the embassies of Qatar, Saudi Arabia and the UAE after the Arab League decided to suspend Syria's membership.


Al-Qaeda says it kidnapped Warren Weinstein in Pakistan

Al-Qaeda says it has 70-year-old US aid expert Warren Weinstein, who was kidnapped by armed men in the Pakistani city of Lahore nearly four months ago.

In a video, al-Qaeda leader Ayman al-Zawahiri said he would be freed if the US stopped air strikes in Afghanistan and Pakistan, among other demands.

Mr Weinstein is a former USAID worker who has lived in Pakistan for five years.

US officials have not said publicly who they believed was holding him.

"Just as the Americans detain whomever they suspect may be connected to al-Qaeda or the Taliban even in the slightest of ways, we have detained this man who has been involved with US aid to Pakistan since the 1970s," Zawahiri said in the 31-minute video.

'Retaliation'

He also demanded that America stop air strikes on Somalia and Yemen, according to a US monitoring group, Site Intelligence.

And he called for the release of al-Qaeda and Taliban suspects around the world, including the 1993 World Trade Center bombers.

Zawahiri confirmed, too, an announcement by US officials in August that his Libyan deputy, Atiyah Abd al-Rahman, had been killed in an air strike in Pakistan's north-western tribal region.

"The retaliation, with permission from Allah, will be taken against those crusader Westerners who killed him [Rahman] and his two sons, and killed hundreds of thousands of our brothers, sons, women, and sheikhs, and occupied our countries [and] looted our wealth," said Zawahiri.

He took over at the top of the militant network this year after Osama Bin Laden was killed in May by US special forces at his hideout in the Pakistani city of Abbottabad.

In the video, Zawahiri reportedly addressed Mr Weinstein's family, telling them not to believe any claim by US President Barack Obama that he would try to free the hostage.

"He might say to you, 'I sought to release your relative, but al-Qaeda was stubborn.' Do not believe him," Zawahiri was quoting as saying.

"He might say to you, 'I tried to contact them and they did not answer.' Do not believe him."

Twelve days after Mr Weinstein's abduction on 13 August, Lahore police said he had been freed, but they then retracted the claim. The US embassy in Islamabad said at the time it had no evidence he had been released.

 


Herman Cain gave cash to Ginger White

Republican candidate Herman Cain has admitted giving money to Ginger White, the woman who says they had a 13-year affair.

In an interview with the New Hampshire Union Leader newspaper, he also said he had not told his wife, Gloria, about the friendship.

But Mr Cain still insists he never had sexual relations with Ms White.

Rival contender Newt Gingrich, who has surged in polls as Mr Cain has dropped, now predicts he will win the race.

The former House Speaker said in an interview with ABC News on Thursday: "It's very hard not to look at the recent polls and think that the odds are very high I'm going to be the nominee."

'Soft-hearted person'

In response to Mr Gingrich's sudden rise, frontrunner Mitt Romney, a former Massachusetts governor, is preparing to launch attack ads in the key election state of Iowa on Friday.

In January, Iowa holds the first of a series of state-by-state contests that will pick the Republican nominee to challenge Barack Obama for the White House in November 2012.

Asked whether the most recent allegations of sexual misconduct to blight his campaign could force him to drop out of the race, Mr Cain told the New Hampshire newspaper: "Yes, it is an option."

He said he repeatedly gave Ms White money to help her with "month-to-month bills and expenses".

"I'm a soft-hearted person when it comes to that stuff," Mr Cain was quoted as saying. "I have helped members of my church. I have helped members of my family."

His wife of 42 years "did not know that we were friends until she [Ms White] came out with this story", he said.

Meanwhile, the Atlanta Journal-Constitution newspaper reported that it had reviewed Ms White's mobile phone records.

It found as many as 70 text messages had been exchanged between her phone and Mr Cain's between 22 October and 18 November, some in the early hours and some late at night.

Mr Cain's lawyer, Lin Wood, has asked for Ms White's phone records to "test her credibility and motive".

The former pizza executive has said he will make a decision about his campaign after a face-to-face meeting with Mrs Cain on Friday.

Ms White's emergence follows allegations of sexual harassment against Mr Cain by four women, during his time as head of a restaurant lobby group in the 1990s.


Euro 2012: England and Ireland await finals draw

Final preparations are taking place in Ukraine's capital, Kiev, as 16 nations including England and the Republic of Ireland await the Euro 2012 draw.

The ceremony will take place from 1700 GMT on Friday, with countries due to be drawn into four groups of four teams.

World and European champions Spain are in Pot One alongside the Netherlands and co-host nations Poland and Ukraine.

Pot Two consists of England, Germany, Italy and Russia, with the Republic of Ireland in the bottom group.

Giovanni Trapattoni's side sit alongside Denmark, the Czech Republic and France, while Croatia, Greece, Portugal and Sweden, who were recently beaten 1-0 by England in a friendly, make up Pot Three.

It throws up the possibility that England and the Republic of Ireland could be drawn together in the same group, though Spain, Germany, Portugal and France are widely regarded to be the strongest teams of their respective pot seedings.

And with the tournament split across two countries, location will be a big consideration for teams when their names are drawn.

England have already chosen the Polish city of Krakow as their base for Euro 2012, so would welcome being drawn in Group A, in which all matches will be staged in either Warsaw or Wroclaw, both of which are approximately 150 miles from England's base.

The other Group based in Poland is C, where matches will be staged in either Poznan (200 miles from Krakow) or Gdansk (300 miles away).

The matches in Group B and D will involve longer journeys to Ukraine. The venues for Group B are Kharkiv (700 miles from Krakow) and Lviv (200 miles), while Group D is Kiev (540 miles) and Donetsk (930 miles).

The Republic of Ireland, having qualified through the play-offs, have yet to settle on a finals base.

Seedings for Euro 2012

Pot 1: Spain, Netherlands, Poland*, Ukraine*.

Pot 2: Germany, Italy, England, Russia.

Pot 3: Croatia, Greece, Portugal, Sweden.

Pot 4: Denmark, France, Czech Republic, Republic of Ireland


Regional clubs come for Carib Rugby Sevens

Regional clubs, Universidad Catolica Andres Bello (Venezuela), Hornets RFC (Guyana, men and women), St Lucia/St Vincent combination and Aesculapians RFC (UK) are among the 12 clubs which have confirmed participation in the inaugural annual Carib Beer Tobago International Rugby Sevens Tournament. The two-day event which is being hosted by the Tobago Rugby Football Club will be contested on the weekend of December 10-11 at Bon Accord Recreation Ground, Bon Accord, Tobago.

Apart from the 12 clubs, four women’s teams have also confirmed attendance. The event takes over from the annual Carib International Rugby Sevens Tournament hosted by the Trinidad Enthusiasts Rugby Football Club, which has been unable to put together the tournament in recent times. Local clubs, Caribs (men and women), Stag Trinidad Northern, Defence Force, Police (men and women), the University of T&T (UTT), Royalians, Trinidad Enthusiasts and Tobago RFC (men’s and women) will participate.

According to tournament organiser Brian Stollmeyer, who spoke at yesterday’s launch of the event held at the hospitality lounge in Carib Brewery Limited, Champs Fleurs, several other foreign clubs will make a decision whether to attend within the next few days. Making the trip to officiate matches are highly travelled and experienced referees in Hugh Banfield and Huw David, both from Wales and Brian Zapp from the USA.

The three referees have a tremendous track record in sevens professional matches across the globe, as well as international fixtures. Along with Stollmeyer, Director of Sport in the THA Anthony Price, T&T Rugby Football Treasurer and Chairman of Selectors, Curtis Nero, Carib Brewery Sponsorship and Events Manager Colin Murray and Tobago RFC Vice-president Randall Rostant, were all present at the launch to offer best wishes to the participating teams.

Price, speaking on behalf of Assistant Secretary with the special responsibility for Youth Affairs and Sport for the THA,  Huey Cadette, said: “We are pleased to be part of this event as it highlights the recent success of the Tobago Rugby Club, which won the Senior Division of the Rugby Union 2011 Championship.” He went on to say: “On behalf of the THA, I would like to pledge our continued commitment to support initiatives such as there.” Price then thanked Carib for its continued support for sport in T&T.

Tobago RFC’s Rostant hinted that if the tournament becomes a success on an annual basis, the event will be added to the Tobago House of Assembly’s official calendar of events, which would ultimately boost Tobago’s tourism industry and improve the standard of the event. Trophies will be provided for the men’s and women’s championship finalists and winning teams. The team awarded for “Best Camaraderie” will receive the Larry Mouttet memorial trophy, while the most promising players will take the Jamie Waters memorial trophy.

As announced by Stollmeyer, the event is free to the public, and all are encouraged to attend. On Monday, there will be a day-long beach party at Sandy Point to conclude proceedings.


Brown, Lee prove too strong in weightlifting

Adrian Brown and Roxanne Lee were crowned men and women’s champion respectively, when the T&T Powerlifting Federation (T&TPF) held its National Championship at the Preysal Secondary School on Sunday. A total of 26 athletes competed for bragging rights and for selection on the national team for next year’s Caribbean Championship and North American Championship to be held in March and July respectively. That team is expected to be selected today. Athletes competed in various events of different weight classes including the men and women’s open and masters, men’s junior and men’s subjunior.

Last year’s winners Kerron Commissiong and Cheryl Abraham, were dethroned by Brown and Lee who convincingly took the titles this year. Commissiong, sustained an injury during the bench press but earned the respect and admiration of the crowd by squatting 810 pounds and deadlifting 720 pounds, both his personal best. Abraham did not compete.

The highlight of the day was the father/son clash between 13-time national champion Henderson Martin and his son Sheah in the men’s open 264-pound plus event. The senior Martin showed his son who was still in charge, as he walked away with the first place. Henderson also went on to take the men’s masters titles over Cecil Basdeo, and the awards for the best squat, bench press, and deadlift.

The younger Martin, however, proved too good in his category outshining the field which included Fareed Khan and Rondell Williams, who took second and third respectively in the junior event. His mother Lee was also a double crown champion winning both the women’s masters and open titles. Also putting on a brilliant show, were brothers Sanjeev and Sanjay Teelucksingh, who entered the men’s subjunior and open 163-pound events. Sanjeev earned the top spots in both events while Sanjay trailed, took second and third in the subjunior and open events respectively.

Other winners included Yolande Mc Intyre (women’s open 185-pound weight class), Adrian Knox (men’s open 205-pound weight class) and Sukraj Roodal (men’s open 264-pound weight class). Brown will be joined by Kerron Commissiong, Ronald Carlos Green and Hayden Hudson who will represent T&T at the 2012 Arnold Sports festival in Columbus Ohio, USA.

Results

 

Women’s Masters

1st - Roxanne Lee

Women’s Open 158-pound weight class

1st - Roxanne Lee

2nd - Lystra James

Men’s Subjunior

1st - Sanjeev Teelucksingh

2nd - Sanjay Teelucksingh

3rd - Capildeo Roopchand

Men’s Junior

1st - Sheah Martin

2nd - Fareed Khan

3rd - Rondell Williams

Men’s Masters

1st - Henderson Martin

2nd - Cecil Basdeo

Men’s Open 163-pound weight class

1st - Sanjeev Teelucksingh

2nd - Virun Lutchman

3rd - Sanjay Teelucksingh

Men’s Open 205-pound weight class

1st - Adrian Knox

2nd - Fareed Khan

3rd - Cecil Basdeo

Men’s Open 231-pound weight class

1st - Adrian Brown

2nd - Jesse Johnson

3rd - Capildeo Roopchand

Men’s Open 264-pound weight class

1st - Sukraj Roodal

Men’s Open 264+ weight class

1st - Henderson Martin

2nd - Sheah Martin

3rd - Clayrun Silcott

Men’s Overall Champion: Adrian Brown

Women’s Overall Champion: Roxanne Lee


Guyana governing party's Donald Ramotar wins election

The electoral commission in Guyana says Donald Ramotar of the People's Progressive Party (PPP/C) has won Monday's presidential election.

It is the fifth straight win for the party, which is mainly backed by Guyana's ethnic-Indian community.

The commission said the People's Progressive Party won 49% of the vote, compared with 41% for the opposition coalition.

A delay in the results had caused concern over possible unrest.

The Guyana Election Commission (GECOM) said the People's Progressive Party had won 32 seats, the opposition coalition A Partnership for National Unity (APNU) 26 seats, and the Alliance for Change seven seats.

Delays and tension

Chief elections officer Gogool Boodhoo declared Mr Ramotar, 61, the winner and said he would be sworn in shortly.

Mr Ramotar has been the General Secretary of the PPP/C since 1997 and was a political advisor to outgoing President Bharrat Jagdeo.

He campaigned under the slogan "Let Progress Continue", promising to continue the focus on social policies and infrastructure development he said had been the hallmark of his predecessor in office.

Before announcing the final results, GECOM chairman Steve Surujbally defended the integrity of the electoral commission and the results.

The commission had delayed the announcement of the final results, which had been expected on Wednesday, saying it needed to double-check the count.

The delay had given rise to concern of a repeat of the unrest which marred previous polls.

In 2001, post-election unrest between Guyana's ethnic groups continued for weeks.

The PPP/C is mainly backed by the Indo-Guyanese community, while its chief challenger, APNU, is supported largely by Afro-Guyanese voters.

Guyana has a parliamentary system, under which the majority party's candidate assumes the presidency.

Nearly half a million people were eligible to vote in the election.