German inflation falls to five-year low
Inflation in Germany fell to its lowest level in more than five years in December, official figures have shown.
Germany's federal statistics office Destatis, said the annual rate of inflation fell to 0.2% in December from 0.6% a month earlier.
That was its lowest level since October 2009.
It comes two days before eurozone inflation figures for December, which some analysts believe will show the currency bloc falling into deflation.
Inflation in the 18-nation currency bloc in November stood at 0.3% according to the European Union's statistics agency, Eurostat.
It has been below the Bank's target of 2%, or just below, since the start of 2013.
A number of other eurozone countries, including Spain and Italy, have already fallen into deflation.
Using the European Central Bank's (ECB) preferred statistical calculations - the Harmonised Index of Consumer Prices (HICP) - German inflation was even lower at 0.1% in December.
The latest figures will increase pressure on the ECB to begin buying government debt.
After the ECB's December meeting left interest rates unchanged at 0.05%, the bank's president, Mario Draghi, said it had "stepped up" its preparations to act if needed, and help prop up inflation in the eurozone.
While low inflation leads to lower prices and can be good news for consumers, it can also lead to falling economic activity, job losses and recession.
Consumers and businesses tend to postpone making purchases or investments in the belief that prices may fall further.
This can lead prices even lower to the point where businesses are forced to lay off staff or even close altogether.
In the summer the ECB cut interest rates to a new all-time low and began an asset purchase programme to inject cash into the economy to help combat deflation.
But big falls in the price of oil, which has fallen more than 50% in the past six months, has had a greater impact on prices, continuing to push them lower.
Jennifer McKeown at Capital Economics said that the fall in German inflation was largely due to lower oil prices, and that the broader eurozone figure was likely to be negative for the first time since October 2009.
She added: "Such a development would surely make the pressure for the ECB to implement quantitative easing at its January meeting irresistible."
But concerns remain over how the ECB will structure its bond buying programme and whether Greek bonds will be included - given the uncertainty over which political party will win the snap election called for three days after the next ECB meeting.
The far-left Syriza party, which has vowed to reverse the austerity measures that were a condition for Greek bailout packages totalling €240bn (£187bn), holds a narrow lead in opinion polls.
Source-BBC
Obama Faces New Political Landscape in 2015
President Barack Obama arrived back in Washington Sunday after a two-week vacation in Hawaii, his home state.
The political landscape in Washington will change for Obama this week, as Republicans take control of the U.S. Senate when a new Congress convenes. Now with majorities in both houses of the legislature following November elections, Republicans face a dual task - advancing their core beliefs, while also working with the president, a Democrat, during his final two years in office.
Incoming Senate Majority Leader Mitch McConnell, speaking on CNN television Sunday, seemed to strike a conciliatory note by saying that just because Americans voted for a divided government (a Republican-controlled Congress and a Democratic president) it does not have to mean gridlock. McConnell said voters want compromise and progress on key issues.
Still, many Republican lawmakers are seen as eager to begin chipping away at many of the president's initiatives, among them the Affordable Care Act - commonly called Obamacare - that requires most Americans to purchase health care insurance.
Many legislators also want to do away with Obama's new immigration policy that provides a gateway to U.S. citizenship for undocumented immigrants living in the country illegally. Also, under fire in Republican quarters is Obama's recent decision to restore diplomatic relations with Cuba, ending a half-century long policy of isolating the communist nation.
As lawmakers settle into Washington this week following the Christmas and New Year's holidays, the president will go on the road with a three-day visit to several U.S. cities to highlight his policies that Democrats say have contributed to America's economic recovery.
The theme of his travels will undoubtedly be a key element of his annual State of the Union address on January 20.
Analysts say Obama has been energized by his end-of-the-year actions on immigration policy and Cuban relations.
Dealing with Republican objections, Obama has made it clear that he will use his veto power to block any efforts aimed at scaling back his initiatives.
Source-VOANews
Suicide Bomber Targets European Police in Kabul
A suicide car bomber targeted a European Union police vehicle in Kabul, killing one passerby and wounding five others nearby. None of the passengers were injured.
The Taliban has claimed responsibility for the attack.
The European police training mission (EUPOL) said the bomber struck near its headquarters on the eastern outskirts of Kabul Monday afternoon.
"I was sitting in my shop when suddenly a horrible explosion happened. Right after the explosion, human flesh and car debris landed on us. I came out on the street and saw some people wounded and a vehicle was destroyed," shopkeeper Isaanullah Jan said.
Kabul has been hit by a high number of attacks since the last weeks of 2014 as Taliban insurgents target government, military and foreign installations.
The attacks come as Afghan troops are taking full responsibility for the nation's security, marking the formal end to a 13-year combat mission in Afghanistan by the United States and NATO that targeted Taliban insurgents.
The U.S. invaded Afghanistan in late 2001 to overthrow the Taliban, which was sheltering the al-Qaida masterminds of the September 11, 2001, terrorist attacks on the United States.
While the last day of the international military mission's combat role was December 31, about 12,000 U.S. and NATO personnel will remain in Afghanistan to train, advise and assist Afghan police and the army.
Chris Brown cancels Philippines New Year’s Eve concert
American recording artist Chris Brown cancelled a New Year's Eve concert in the Philippines at the last minute, reportedly because of a lost passport, organizers said Wednesday.
Brown tweeted that "Due to unfortunate circumstances I can't bring in the new year with you..."
The organizers, Maligaya Development Corp., said they were informed by Brown's local representatives on Wednesday afternoon that he was still in Los Angeles.
"According to them, Chris Brown lost his passport the day before the scheduled event," it said in a statement. "Hence despite having entered into a contract with us, Chris Brown would not be able to comply with his obligation to perform."
Brown was to perform along with other musical acts at the 55,000-seat Philippine Arena in the New Year's Eve concert, which also featured a fireworks show.
Source-AP
Kamala Persad-Bissessar promises no cutbacks despite falling oil prices
Oil prices are falling but citizens need not worry, Prime Minister Kamla Persad-Bissessar said yesterday.
Delivering her New Year message at the post-Cabinet media conference at the San Fernando Teaching Hospital, Persad-Bissessar said despite decreasing oil prices, Government will not be cutting back on any salaries, social and health care programmes, programmes or major projects.
Persad-Bissessar, who took no questions, said: “We are at a point in our nation’s affairs when we are faced with lower energy prices. I was part of a former administration in 1995 when the country also had to be managed with lower energy prices. Despite this, we demonstrated that we were up to the task and the country experienced a level of prosperity which few thought possible. I am therefore not daunted by the current situation but instead feel very confident of our ability to mitigate the impacts of lower energy prices whilst preserving jobs and promoting economic growth.
“I remain doubly focussed on the task at hand. Attempts to distract my attention and energies from my responsibility to lead and manage the affairs of this nation will not deter me from my goal of a prosperous and secure nation.”
Persad-Bissessar said: “ As we move into the New Year, I am as concerned about this country as everyone else should be. As such I propose to do the following. I will speak to the nation on the state of the economy on January 8, 2015. I will address the issue of falling oil and gas prices and their implications for Trinidad and Tobago and outline the way forward in the year ahead.
“On Friday January 9, 2015 the Finance Bill will be debated in the House of Representatives. This bill gives life and traction to the measures announced in the 2015 Budget Statement. Following this debate, during the following week, I will also engage stakeholders in a discussion on the state of the economy, the way forward and options for investment, growth, diversification and development.
“I wish to give the assurance that there will be no cut to affect the vulnerable and the under privileged as well as health sector reform and crime fighting. The preservation of jobs is high on our agenda. I look forward with keen interest in the ideas and suggestions which the stakeholders and citizens will share as we deepen our partnership in the interest of a prosperous and secure Trinidad and Tobago. In the meantime feel secure in the fact that your government is monitoring the situation on a daily basis and working with you in mind everyday.
Persad-Bissessar said when her People’s Partnership government came into office in 2010, the country’s financial stability was threatened by the CL Financial and Hindu Credit Union (HCU) fiascoes and now the country was in a better place enjoying political stability, economic growth, financial stability, lower levels of poverty although her government was the most scrutinised ever in the nation’s political history.
Persad-Bissessar also listed the government’s achievement, among them the maintenance of a subsidy on gas prices. And she said although the number of serious crimes was down, there were still the challenges of murders and domestic violence cases.
The 2015 budget has been pegged to a US$80 a barrel oil price.
Oil prices have been on a decline since June 15 from US$115 per barrel. Four days ago, the price was US$54 per barrel.
On Monday, the price of oil was just under US$60 per barrel, and the price of natural gas has also been on the decline.
Local companies have already begun revisiting their budgets to deal with a possible prolonged decrease in oil and gas prices.
By Sue-Ann Wayow sue-ann.wayow@trinidadexpress.com
Bad weather hobbles Indonesia jet recovery; 7 bodies found
Bad weather hindered efforts to recover victims of AirAsia Flight 8501 on Wednesday, and sent wreckage drifting far from the crash site, as grieving relatives prayed for strength to endure their losses.
"Help us, God, to move forward, even though we are surrounded by darkness," the Rev. Philip Mantofa, whose church lost about 40 members in the disaster, told families gathered in a waiting room at the Surabaya airport.
The massive hunt for 162 people who vanished Sunday aboard the Airbus A320 from Surabaya, Indonesia to Singapore, was severely limited due to heavy rain, wind and thick clouds. Seven bodies, including a flight attendant in her red AirAsia uniform, have been recovered, said Indonesia's Search and Rescue Agency chief Henry Bambang Soelistyo.
Sonar images also identified what appeared to be large parts of the plane, but strong currents were moving the debris.
Conditions prevented divers from entering the choppy Java Sea, and helicopters were largely grounded. But 18 ships continued to scour the narrowed search area, and four of the seven corpses were recovered Wednesday. Indonesia's Meteorology and Geophysics Agency predicted conditions would worsen, with more intense rains, through Friday.
"It seems all the wreckage found has drifted more than 50 kilometers from yesterday's location," said Vice Air Marshal Sunarbowo Sandi, search and rescue coordinator in Pangkalan Bun on Borneo island, the closest town to the site. "We are expecting those bodies will end up on beaches."
The airliner's disappearance halfway through the two-hour flight triggered an international search involving dozens of planes, ships and helicopters from numerous countries. It is still unclear what brought the plane down.
Its last communication indicated the pilots were worried about bad weather. They sought permission to climb above threatening clouds but were denied because of heavy air traffic. Four minutes later, the jet disappeared from the radar without issuing a distress signal.
The aircraft's cockpit voice and flight data recorders, or black boxes, must be recovered before officials can start determining what caused the crash. Items recovered so far include a life jacket, an emergency exit window, children's shoes, a blue suitcase and backpacks filled with food.
Malaysia-based AirAsia's loss comes on top of the still-unsolved disappearance of Malaysia Airlines Flight 370 in March with 239 people aboard, and the downing of Malaysia Airlines Flight 17 in July over Ukraine, which killed all 298 passengers and crew.
Simple wooden coffins — numbered 001 and 002 — with purple flowers on top contained the first two bodies, which were sent from Pangkalan Bun to Surabaya. The two victims were a woman wearing blue jeans and a boy 4½-feet-tall (140 centimeters). The other five bodies — three male and two female — will remain on a warship until the weather clears.
Nearly all the passengers were Indonesian, and a large portion of them were Christians of Chinese descent. The country is predominantly Muslim, but sizeable pockets of people from other faiths are found throughout the sprawling archipelago. Around 10 percent of those in Surabaya, the nation's second-largest city, are Christian.
On Wednesday, around 100 relatives gathered for the airport prayer service where Mantofa urged them to hold onto their faith, despite their pain. About 40 members of his Manwar Sharon Church died in the crash.
"Some things do not make sense to us, but God is bigger than all this," he said. "Our God is not evil."
Before breaking up, those gathered stood together and sang with their hands reaching upward: "I surrender all. I surrender all," they repeated. "I surrender all to God our savior. I surrender all."
Many family members had planned to travel to Pangkalan Bun, 160 kilometers (100 miles) from the area where bodies were first spotted, to start identifying their loved ones. However, Surabaya airport general manager Trikora Hardjo later said the trip was canceled after authorities suggested their presence could slow down the operation.
Instead, some relatives gave blood for DNA tests in Surabaya, where the bodies will be transported, and submitted photos of their loved ones along with identifying information such as tattoos or birthmarks that could help make the process easier.
Nearly all the passengers from Indonesia were frequent visitors to Singapore, particularly on holidays.
It was 13-year-old Adrian Fernando's first trip to the city-state and was supposed to be a fun vacation with his aunt, uncle and cousin before school started back up.
"He is my only son," said emotional mother Linca Gonimasela, 39, who could not accompany him because she had to work. "At first, he didn't want to go, but later on he was persuaded to join them for the New Year holiday."
A number of Indonesian cities, including Surabaya, have opted to cancel or tone down their planned New Year's Eve celebrations. However, a giant street bash was still in the works for the capital, Jakarta.
"We are in mourning over the AirAsia disaster that claimed the lives of many Indonesians," said Minister of Home Affairs Tjahjo Kumolo, who called on civil servants nationwide to pray for the victims' families instead of holding public New Year's events. "We need to show our sense of sympathy by restraining from holding excessive partying."
Source-AP
36-year-old male charged with Attempted Murder
The Royal Turks and Caicos Islands Police Force (RTCIPF) continues to investigate multiple incidents of violence which unfolded at Club 2005 on Aviation Drive in Five Cays on Saturday 27 December 2014.
Yesterday (Monday, 29 December 2014), investigators charged 36-year-old Emanjoe Forbes of Kew Town, Providenciales with Attempted Murder after it is alledged that Forbes stabbed a 24 year old from Blue Hills. The 24 year old remains hospitalised at Cheshire Hall Medical Center recovering from a stab wound to his abdomen.
Forbes is presently remanded in Police custody for an appearance in the Magistrate’s Court in Providenciales later this week.
Police have released two persons on bail pending further investigations, number of other persons are in police custody assisting with the murder investigations but police are still encouraging anyone who may have witnessed the events surrounding this incident to assist the police with their investigations.
Police are urging anyone with information about this incident to call Crime Stoppers on 1-800-8477 or use the Crime Stoppers online reporting page: www.crimestoppers.tc. Information you provide will be treated in the strictest of confidence. We remind people they should not report crime information via our Facebook and Twitter pages.
WEATHER FOR DECEMBER 31st, JANUARY 1st & JANUARY 2ND,2015
THIS IS THE FORECAST FOR THE TCI & THE BAHAMAS FOR TODAY AND TONIGHT , WEDNESDAY 31ST DECEMBER 2014
GENERAL SITUATION: THE COMBINATION OF A WEAK FRONTAL BOUNDARY ACROSS THE NORTHWEST BAHAMAS AND A WEAK SURFACE TROUGH NEAR THE SOUTHEAST BAHAMAS WILL INFLUENCE THE WEATHER CONDITIONS ACROSS THE BAHAMAS TODAY AND TONIGHT
FOR THE TCI
WEATHER: PARTLY CLOUDY AND WARM WITH THE CHANCE OF A BRIEF PASSING SHOWER OR TWO NEAR THE FRONTAL BOUNDARY, TURNING FAIR AND MILD TONIGHT
ADVISORY: SMALL CRAFT SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS
WINDS: LIGHT AND VARIABLE AT 10 KNOTS OR LESS
SEAS RUNNING: 3 FEET OR LESS OVER THE OCEAN
FOR THE SOUTHEAST BAHAMAS
WEATHER: PARTLY TO MOSTLY SUNNY AND WARM WITH THE SLIGHT CHANCE OF A BRIEF BUT LIGHT PASSING SHOWER, TURNING FAIR AND MILD TONIGHT
ADVISORY: SMALL CRAFT SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS
WINDS: EAST-NORTHEAST TO EAST-SOUTHEAST AT 10-15 KNOTS
SEAS RUNNING: 2-4 FEET OVER THE OECAN
DAYTIME HIGH TEMPERATURE: 82F 28C
OVERNITE LOW TEMPERATURE: 70F 21C
SUNRISE AT 6.55 AM AND SUNSET AT 5.31 PM
MOONRISE AT 2.07 PM AND MOONSET AT 3.32 AM THURSDAY
LOW TIDE AT 10.04 AM AND HIGH TIDE AT 3.53 PM AND LOW AGAIN AT 10.08 P[M
OUTLOOK FOR THE NEXT THREE DAYS: THE COLD FRONT WILL LINGER OVER THE NORTHWEST BAHAMAS FOR THE NEXT THREE DAYS AND EVENTUALLY DISSIPATE, WHILE A RIDGE OF HIGH PRESSURE WILL INFLUENCE THE WEATHER OVER THE REMAINDER OF THE BAHAMAS GENERATING PLEASANT BUT STABLE CONDITIONS ACROSS THESE ISLANDS
FORECAST FOR THURSDAY
WEATHER: PARTLY TO MOSTLY SUNNY AND WARM WITH THE SLIGHT CHANCE OF A BRIEF BUT LIGHT PASSING SHOWER DURING THE DAY, TURNING FAIR AND MILD ATNIGHT
WINDS: LIGHT AND VARIABLE AT 10 KNOTS OR LESS IN THE TCI, NORTHWEST AND CENTRAL BAHAMAS AND EASTERLY AT 10-15 KNOTS IN THE SOUTHEAST BAHAMAS
SEAS RUNNING: 3 FEET OR LESS IN THE NORTHWEST AND CENTRAL BAHAMAS AND 2-4 FEET IN THE SOUTHEAST BAHAMAS
FORECAST FOR FRIDAY
WEATHER: PARTLY TO MOSTLY SUNNY, WARM AND WINDY WITH THE SLIGHT CHANCE OF A BRIEF BUT LIGHT PASSING SHOWER DURING THE DAY, TURNING FAIR AND MILD AT NIGHT
WINDS: EAST TO SOUTHEAST AT 10-15 KNOTS IN THE TCI, NORTHWEST AND CENTRAL BAHAMAS AND EAST TO SOUTHEAST AT 15-20 KNOTS IN THE SOUTHEAST BAHAMAS
SEAS RUNNING: 2-4 FEET IN THE NORTHWEST AND CENTRAL BAHAMAS AND 4-7 FEET IN THE SOUTHEAST BAHAMAS
Haiti president moves to end political impasse
President Michel Martelly may have averted a political crisis in the French-speaking Caribbean Community country after reaching a tentative agreement with the heads of the two houses of Parliament.
The accord, announced late on Monday, may result in approval of a "consensus" government that could include Evans Paul, the president's new choice for prime minister to replace Laurent Lamothe, who resigned earlier this month.
The agreement would also extend the terms of the Senate and the Chamber of Deputies, due to run out on January 12 next year, but only if an electoral law is passed first.
In recent weeks, Martelly has been meeting with several social and political groups in a bid to pave the way for the holding of the long-delayed election to renew two-thirds of the 30-member Senate, the entire Lower Chamber and hundreds of local government bodies.
Out of the 30 senate members, only 20 remain in office, and amendments to an existing electoral law are required to facilitate the vote.
But six opposition legislators have consistently refused to attend the meetings of the Senate, preventing the body from getting the required 16-member quorum needed to hold a session.
Political observers note that by January 12 next year, the Haitian parliament will become dysfunctional with only 10 senators left, while 16 are required to hold a session. The observers note that failure to elect the new Senators could result in President Martelly ruling by decree.
The new agreement reached would extend the terms of the deputies until April 24 next year and senators until September 9.
Political observers say the new agreement is likely to be favourably received by Haiti's foreign donors, particularly the United States and the United Nations, who had expressed concern that the impoverished Caribbean nation was on the brink of political chaos again.
"This is a good step taken towards the resolution of the crisis," Paul told reporters, saying elections could be held within 120 days of a new electoral council being installed.
Lamothe was forced to resign after several weeks of protests led by opposition politicians.
President Martelly accepted the resignation after the 11-member Presidential Commission he appointed to help him deal with Haiti's worsening political crisis recommended Lamothe's removal.
Source-CMC
Venezuela recession confirmed as Maduro attacks US 'oil war'
The Venezuelan economy is now officially in recession after the central bank released figures showing that it has been shrinking all year.
The bank said the economy had declined by 2.3% in the third quarter of 2014.
It also revealed for the first time that GDP contracted by 4.8% and 4.9% respectively in the first and the second quarters of 2014.
President Nicolas Maduro said the economy had been hit by political instability and falling oil prices.
He accused the United States of flooding the markets with oil as part of an economic war against Russia.
The central bank also said inflation had reached 63.6% in the 12 months to November, one of the highest rates in the world.
Mr Maduro announced a number of measures to boost economic growth and control inflation, including reforms to Venezuela's currency control system.
"The details will be extensively explained after the New Year's greeting," Mr Maduro told reporters.
Mr Maduro said speculation had affected inflation but he also praised government efforts to rein in the increases.
He said his country was suffering the consequences of an economic war launched by US President Barack Obama "to destroy" the oil producers' cartel, Opec.
"It is a two-year plan, which is affecting the prices of commodities and many developing economies," Mr Maduro said.
"The US wants to impose a unipolar world controlled from Washington. That is madness."
The crisis offered a "great opportunity for Venezuela to change its economic model," the president added.
Venezuela has the world's largest proven oil reserves, with its economy highly dependent on oil exports.
The Venezuelan opposition blames the socialist policies of Mr Maduro and his late predecessor, Hugo Chavez, for a shortage of many staples, such as corn oil and milk, amid a serious economic crisis.
Source-BBC