Novak Djokovic, Roger Federer rally
As the chilly evening air swirled, and raindrops fell, and the thousands of spectators pulling for his opponent hushed, Novak Djokovic stood a single point from exiting the French Open.
A single point from losing to France's Jo-Wilfried Tsonga in the quarterfinals at Roland Garros.
A single point from losing the chance to pursue a fourth consecutive Grand Slam title, something no man has done in 43 years.
Steeling himself with so much at stake, Djokovic came through, taking that crucial point thanks to an overhead that skimmed off the baseline to set up a putaway volley. Seconds later, he faced the same predicament -- one point from defeat -- and came through again, this time with a leaping forehand that barely landed in. All told, Djokovic faced four match points against Tsonga and won each one, extending the contest until seizing control for good.
Djokovic won his 26th Grand Slam match in a row Tuesday, coming back and beating the fifth-seeded Tsonga 6-1, 5-7, 5-7, 7-6 (6), 6-1 to set up a French Open rematch against 16-time major champion Roger Federer. A year ago in the semifinals at Roland Garros, Federer ended Djokovic's 43-match winning streak, the last time the Serb lost at one of tennis's four most important tournaments.
"Tennis is very mental. Lots of emotions," said the No. 1-ranked Djokovic, who won Wimbledon last July, the U.S. Open last September, and the Australian Open in January. "If you're playing a top player, a home favorite, and you have a crowd that's supporting him, you have to face these things. Physically, we're all fit, all hitting the ball well. But mentally, it's just a matter of a point here, a point there. That's sport. The one that mentally pushes more in some moments -- and gets a bit lucky -- gets the win."
Federer also fashioned a come-from-behind victory, and while he never was confronted with a match point, he did drop the first two sets before getting past No. 9 Juan Martin del Potro of Argentina 3-6, 6-7 (4), 6-2, 6-0, 6-3.
Caribbean faces massive economic damage from global warming
Latin America and the Caribbean face annual damages in the order of $100 billion by 2050 from diminishing agricultural yields, disappearing glaciers, flooding, droughts and other events triggered by a warming planet, according to the findings of a new report to be released at the Rio+20 summit.
On the positive side, the cost of investments in adaptation to address these impacts is much smaller, in the order of one tenth the physical damages, according to the study jointly produced by the Inter-American Development Bank (IDB), the Economic Commission of Latin America and the Caribbean (ECLAC) and the World Wildlife Fund (WWF).
However, the study also notes that forceful reductions in global emissions of greenhouse gases are needed to avert some of the potentially catastrophic longer term consequences of climate change. The report estimates that countries would need to invest an additional $110 billion per year over the next four decades to decrease per capita carbon emissions to levels consistent with global climate stabilization goals.
“Many climate-related changes are irreversible and will continue to impact the region over the long term,” said Walter Vergara, the IDB’s division chief of climate change and sustainability and the lead researcher of the study, whose preliminary findings were presented today in Washington at an event jointly hosted by the IDB and the Center for American Progress (CAP). “To prevent further damages, adaptation is necessary but not enough. Bolder actions are needed to bend the emissions curve in the coming decades.”
Region especially vulnerable
Latin America and the Caribbean contribute only 11 percent of the emissions that cause global warming. However, countries are especially vulnerable to its effects, given the region’s dependence on natural resources, an infrastructure network that is susceptible to climate events, and the presence of bio-climate hotspots such as the Amazon basin, the Caribbean coral biome, coastal wetlands and fragile mountain eco-systems.
Estimated yearly damages in Latin America and the Caribbean caused by the physical impacts associated with the a rise of 2C degrees over pre-industrial levels are of the order of $100 billion by 2050, or about 2 percent of GDP at current values, according to the report titled “The Climate and Development Challenge for Latin America and the Caribbean: Options for Climate Resilient Low Carbon Development.”
The study cites climate impacts in areas such as agriculture, exposure to tropical diseases and changing rainfall patterns, among others. For instance, the report cites recent work estimating the loss of net agricultural exports in the region valued at between $30 billion and $52 billion in 2050.
Mexico and Brazil have the largest land distribution just above sea level, making those countries vulnerable to rising sea levels. A rise of one meter in the sea level could affect 6.700 kilometers of roads and cause extensive flooding and coastal damage. A 50 percent loss of the coral cover in the Caribbean from coral bleaching would cost at least $7 billion to the economies in the region.
The study notes that the adaptation costs are a small fraction of the costs of physical impacts, conservatively estimated at 0.2 percent of GDP for the region, at current values. In addition, adaptation efforts would have significant development benefits, from enhanced water and food security to improved air quality and less vehicle congestion, further reducing their net costs.
“Investments in adaptation are cost effective and have substantial co-benefits” said Luis Miguel Galindo, Chief of the Climate Change Unit of ECLAC, a key contributor to the study. “Also, some of these adaptation measures are very easy to implement and have significant positive impacts.”
Though adaptation is important, substantial investments are also required in order to drastically cut the region’s projected carbon emissions to levels consistent with global climate stabilization goals.
Under a business-as-usual scenario, Latin America and the Caribbean would contribute 9.3 tons per capita of greenhouse gas emissions by 2050, up from the current 4.7 tons per capita. The report identifies pathways to bend the emission curve to two tons per capita, by promoting zero net emissions from deforestation and other land-use practices by 2030, combined with efforts to eliminate the carbon footprint in the power matrix and transport infrastructure by 2050, at an annual cost of $110 billion.
“Yes, spending $110 billion a year for a region that faces major development challenges is not an easy proposition,” said Pablo Gutman, the Director of Environmental Economics at the WWF. “However, this would also bring about major benefits such as improved food and energy security; people would have healthier lives in cleaner environments.”
“In the long term,” added Vergara, “this is the surest way to ensure Latin America and the Caribbean continues to prosper along a sustainable path.”
Gayle will bring 'quality dimension'
Chairman of selectors Clyde Butts has welcomed Chris Gayle's return to the West Indies team for the one-day tour of England and says the big-hitting left-hander will bring a "quality dimension" to the Caribbean side.
The talismanic Gayle was on Monday chosen in a 15-man squad, breaking a protracted impasse with the West Indies Cricket Board (WICB) that saw him excluded from selection for the last 14 months.
"Chris is a player of proven quality and we are looking forward to him adding this dimension to the side and his contributions as a senior member of the squad," Butts said.
The way was paved for Gayle's return after he sat down in a high-level meeting in St Vincent on Sunday with his representative Michael Hall, WICB president Julian Hunte, WICB director Elson Crick, and the board's legal officer Alanna Medford.
St Vincent and the Grenadines Prime Minister Ralph Gonsalves and Antigua and Barbuda Prime Minister Baldwin Spencer also attended the meeting.
Gayle, who has scored 8,087 runs from 228 ODIs with 19 centuries, will now join the side led by captain Darren Sammy and which includes eight members of the current Test squad already on tour.
Trinidadian opener Lendl Simmons has also been recalled following injury, while Dwayne Smith has been given the nod in a one-day unit for the first time in over two years.
continued preparation
Butts said the composition of the team reflected the continued preparation for the 2015 World Cup in Australia.
"We are now beginning to move into the next phase of the development of the team as we continue to build our ODI side as we continue to plan for the 2015 World Cup," Butts pointed out.
"A number of players who we have been exposing to international cricket and who, by their recent performances, have shown that they can play roles in the team have been retained.
West Indies face England in three ODIs from June 16-24.
Shanique Myrie seeking significant damages from Barbados
Shanique Myrie, the 24-year-old Jamaican woman, who has taken legal action against the Barbados government after she alleged she was sexually assaulted by a female Immigration officer, insulted, and then denied entry into the country last year, is seeking significant damages including an apology from the Barbados government.
In documents filed with the Trinidad-based Caribbean Court of Justice (CCJ), which in April granted her special leave to commence proceedings against the Barbados government, Myrie is also claiming J$118,000 (US$1,340) in special damages to cover the cost of airline ticket, medical expenses and a slipper.
In addition she is also seeking unspecified amounts for exemplary damages, aggravated damages and interest.
Her lawyer, Michelle Brown had argued before the CCJ in April that Myrie was subjected to “forceful brutish language” by immigration officials at the Sir Grantley Adams International Airport on her arrival into the country on March 14 last year.
The Jamaican-born attorney said that her client is “still not certain what laws of Barbados she broke” resulting in her being refused entry into a CARICOM country that had signed on to the 2007 declaration allowing for the free movement of people within the region.
“She has suffered direct and indirect discrimination,” Brown said, arguing that Barbados exercised its sovereignty when it signed the 2007 CARICOM declaration and that failure to bring it in line with domestic legislation “does not negate its obligations under international law”.
In the documents filed with the CCJ last month, Myrie wants a declaration that the Barbados government breached her right to enter the country pursuant to Article 45 of the Revised Treaty of Chaguaramas that governs the regional integration movement, CARICOM.
She also wants a declaration Barbados discriminated against here “on the ground of nationality only in denying her entry and subjecting her to inhumane treatment” as well as that the action by Barbadian border officials and agents of the government were “null and void”.
Myrie is also seeking an order that the Barbados government issue her with an official document “stating that the denial of entry on March 14, 2011 was unlawful and that the “Cancelled” entry stamp in her passport is null and void.
In addition, she wants an order that the Barbados government “issue an apology …for violating her fundamental human rights and freedom, in particular, by treating her in a discriminatory manner; conducting an unlawful body search; conducting an unlawful cavity search; arbitrarily and unlawfully detaining and verbally abusing” her.
She is also wants the Barbados government to take “reasonable steps to facilitate educational or sensitivity training for all Border Officials on Barbados’ obligations under the Revised Treaty and international human rights law, in keeping with the object and purpose of the Revised Treaty and the goal of free movement”.
In April, the five-member CCJ panel, headed by its President, Sir Dennis Byron, approved Myrie’s application to file the case during a special sitting in Barbados, the first time the regional court, which was established in 2001 to replace the London-based Privy Council, sat outside its Trinidad-based headquarters.
Portia announces massive housing plans
Prime Minister, Portia Simpson Miller, this afternoon announced a raft of measures designed to make more Jamaicans homeowners, ranging from reduced mortgage rates to free houses.
She was making her contribution to the budget debate under the theme 'A Mission with a Vision.'
The Prime Minister announced that the National Housing Trust will be granted tax-free status for the next two years, and the agency is expected to use the tax break to help some of its most vulnerable contributors.
She noted that more than 55 per cent of NHT contributors earn less than $10,000 per week and she said the NHT will be introducing a number of initiatives to help this vulnerable group.
She announced that as of this month housing grants of $1.2 million each will be allocated daily for qualified walk-in applicants on a first come basis.
Simpson Miller said 10 per cent of the total home grant would be reserved for qualified applicants with disabilities.
Simpson Miller also announced a reduction in interest rates come September 1.
And as of September 1, hotel workers who earn $10,000 per week or less and who apply for an NHT mortgage during the next three years will receive a one per cent reduction on current interest rates.
Simpson Miller said the one per cent interest rate reduction for public sector workers, which was originally due to expire on March 31 next year, has been extended to March 31, 2015.
The Government will collaborate with Food for the Poor to provide 1,200 housing units each year for the next five years free of cost to poor households.
She also announced another initiative aimed at providing housing solutions for NHT contributors who earn between $5,000 and $7,000 per week.
Meanwhile, the NHT is to build three new developments in St. Thomas, Manchester and Clarendon.
Simpson Miller says subsidies for these will be announced at a later date.
JA.Gleaner
Back to drawing board in TNT
A FRESH crime plan is expected to be drawn up to deal specifically with the rising murder rate as National Security Minister, Brigadier (ret) John Sandy has called in Deputy Commissioner of Police Mervyn Richardson to an emergency meeting.
In a written response to a written question asking if he was concerned about the rising murder toll, which up to yesterday was 177, Sandy said: “I am abhorred by this development and have today (yesterday) spoken with Deputy Commissioner of Police Mervyn Richardson with respect to new concepts of crime fighting applications with particular concentration on gang activity and homicides. We have to; we must arrest this upsurge in criminal activity and we must do so soon!”
Sandy gave this response to Newsday while he was in the Senate which yesterday debated a request by Government for an additional $1 billion in its 2011/2012 Budget, at Tower D, International Waterfront Centre, Port-of-Spain.
Sandy further stated in his response note that he would be raising the issue at the weekly stakeholder “crime team meeting” between himself, Comm-
issioner of Police Dwayne Gibbs, Chief of Defence Staff Brigadier General Kenrick Maharaj and other heads of the various branches of national security.
Speaking with Newsday yesterday, Richardson confirmed that he has been in communication with Sandy. Richardson too expressed his concern over the number of killings particularly over the past weekend in which eight persons were murdered.
And while Richardson was not prepared to speak on any new crime plan he said he wanted to assure the nation the police remain committed to protecting citizens and property.
“The incidents which happened over the weekend are regrettable, but rest assured proper investigations are being conducted into each and every incident. That said, over the past month, we have been trying different strategies and doing different things, which I cannot elaborate on at this point, in our efforts to combat crime.
“While at the moment, I can say we are not satisfied with the results so far, I can assure the public that we are committed to their safety and bettering our strategies to bring the current situation under control. Each night and each day we are forming partnerships with various utilities such as the army and members of the Customs and Immigration division and are working as a team, with the view of bringing this situation under control,” Richardson explained. President of the Police Social Welfare Association Sgt Anand Ramesar, was more scathing when asked to comment. He was critical of the leaders of the police service and called on Gibbs to resign in light of the increasing crime rate.
“This is not something the police service can be proud of. The Commissioner of Police has failed this country. It is my belief that he has misled citizens into believing he has a handle on crime...but the statistics show otherwise.
“If Gibbs is true to his word, he would recognise that he has failed and should resign with immediate effect. We need a commissioner with fresh ideas and thoughts which are relevant to the culture of this country and the type of criminality which exists in this region. We are not interested in any old tricks,” Ramesar said. Gibbs is a Canadian-born officer brought in on a three-year contract.
However, he too suggested that if the police were to combat the increased crime rates, the service would need to re-strategise policies.
“It is the association’s view that the recent surge in homicides is very disappointing and very sad for Trinidad and Tobago and that the police service and by extension our leadership needs to recognise that the way we are doing things is not having the desired outcome.
“We need to re-strategise...we need new plans and new ideas. If anything is clear from these past two months, it is that the 21 century policing programme is not having the impact in crime that we wanted it to. And this is clear, because it has been a little over a year since the programme was launched, yet we have had ten murders in four days,” Ramesar said.
Former ministers battle on foreign cash donation to PM
A former minister, who served in the previous NDC government of 1990 – 1995, is completely supportive of current party leader, Prime Minister Tillman Thomas, in the receipt of money from an overseas donor.
“I believe the Prime Minister,’’ said Phinsley St. Louis, who was referring to a statement from the Prime Minister’s Office (PMO), in which Thomas admits to receiving US$50,000 into the leader’s personal account from “a friend of Grenada’’ whose “corporate residence is the British Virgin Islands.’’
However, St. Louis said that if it turns out that Thomas made a false statement in the matter, “he should demit office immediately and call fresh elections and don’t contest.’’
The money transfer has become a hot political topic since allegations were first made last month by the main opposition New National Party (NNP) and denied by Thomas.
NNP leader and former Prime Minister, Dr. Keith Mitchell, claimed that a top government minister had received US$150,000 from a source in Saudi Arabia.
Last week’s PMO statement said that Thomas, as leader of the National Democratic Congress, had received US$50,000 from the BVI.
“At every stage, it was the understanding and belief of Prime Minister Thomas, that these funds were intended to assist the NDC and for no other purpose,’’ the statement said.
St. Louis, who describes himself as a “founder’’ of the NDC, said he has a document to corroborate the Grenadian leader’s story and challenged the opposition to reveal their evidence of a US$150,000 donation from Saudi Arabia.
St. Louis, a former Minister of Works, said if Dr. Mitchell cannot present any evidence to back his allegations against Thomas, the opposition leader would be showing that he is not truthful and should not contest the next general election.
“Someone is telling a lie and I am saying it is not the prime minister,’’ St. Louis told broadcaster Lew Smith, host of GBN’s Monday night television program, Beyond the Headlines.
St. Louis and Kenny Lalsingh, an NNP member and former government minister, were the program’s guests.
Lalsingh accused St. Louis, who said he has “no problem’’ with the money transfer, of trying to cover up.
He questioned whether the money has been transferred from the prime minister’s personal bank account to the NDC’s; and whether the funds are linked to a proposed economic citizenship program of government.
By his action in the money transaction, the prime minister has put his reputation on the line, Lalsingh said.
“I’m sure the prime minister must be regretting that he allowed it to happen that way,’’ said Lalsingh. “The prime minister has lost credibility.’’
SPICE
Australia's economy expands more than expected
Australia's economy expanded more-than-expected in the first three months of the year allaying fears of a global slowdown hurting its growth.
Growth was 1.3% during the period from the previous three months. Analysts had projected a 0.5% expansion.
Compared with the same period last year, the economy grew by 4.3%.
There have been fears that slowing global demand for commodities and a stagnant domestic market may hurt Australia's growth.
However, some analysts said that the latest data showed that Australia's economy was well placed to sustain growth.
"The data suggests that even though we are still concerned about the global economic uncertainty, the impact on the Australian economy has been vastly over estimated so far," Michael McCarthy of CMC Markets told the BBC.
Balanced growth
One of the biggest worries about the Australian economy has been that while its mining sector has been booming in recent years, other parts of the economy have not been doing too well.
However, the latest gross domestic product (GDP) data indicated that the trend may be changing.
It showed that sectors such as professional, scientific and technical services and the financial and insurance sectors contributed as much as mining to the overall economic growth.
Household spending also rose during the period, which analysts said was an indication that consumer sentiment remained upbeat.
"The thing that catches my eye is very strong consumption numbers and an unusually large contribution from professional and scientific services," said Matthew Johnson a senior economist at UBS.
'Forward-looking risks'
Despite the encouraging numbers, analysts said that Australia's economy continues to face a threat from global economic uncertainties, especially developments in the eurozone and a slowdown in China's growth.
They said the conditions both in Europe and China had deteriorated since March this year and that may hurt growth going forward.
In China, one of the biggest markets for Australian commodity exports, growth in both the manufacturing and non-manufacturing sectors has slowed in recent months.
Meanwhile in the eurozone, the sovereign debt crisis has worsened, with some analysts even warning that the policymakers have a "three-month window" to save the euro.
On Tuesday, the Reserve Bank of Australia cited these developments as key risks to growth as it announced its second rate cut in as many months.
"It's all about forward-looking risks and Europe is the main source of those," said Michael Blythe chief economist at the Commonwealth Bank of Australia.
However, Mr Blythe added that the latest growth numbers may prompt the central bank to hold back on making aggressive cuts "unless something really does go wrong in Europe".
BBC
EU unveils plan to protect taxpayers from failing banks
The European Commission on Wednesday will unveil new proposals designed to stop taxpayers' money being used to bail out failed banks.
They aim to ensure losses are borne by bank shareholders and creditors and minimise costs for taxpayers.
It wants to prevent runs on banks in one country - such as Spain or Greece - pulling down the entire system.
A key goal is to make sure that essential everyday banking functions - such as cash machines - are kept going.
The global financial crisis has seen a succession of major banks fail, including Northern Rock, Lehman Brothers, leading Icelandic banks, the Belgian-Dutch giant Fortis and Franco-Belgian Dexia and the Republic of Ireland's Anglo Irish Bank.
Banks are currently in the spotlight in Greece and Spain, where the latter is trying to find more than 80bn euros (£65bn; $100bn) to strengthen their capital buffers.
The bank resolution plan forms part of commitments agreed by the leaders of the G20 group of major economies in September 2009.
They would give EU authorities the power to intervene early.
A new mechanism will allow authorities to reduce the claims of unsecured creditors, meaning that shareholders and creditors bear the losses, not governments and the taxpayers that support them.
The changes will not be introduced before 2018.
G7 crisis talks as Spain says borrowing lines closing off
Finance chiefs of the G7 group of industrial nations have held emergency talks about the eurozone debt crisis.
They come amid fresh worries about the eurozone's economy, underlined in data showing that private sector activity, including in Germany, fell in May.
The talks ended without a G7 statement, but Japan's finance chief vowed a "speedy" response to the crisis.
Meanwhile, Spain's finance minister said the credit markets were "effectively shut" to his country.
Speaking ahead of the G7 talks Cristobal Montoro told Spain's Onda Cero radio "the door to markets is not open for Spain".
Worries about the suffering Spanish economy and its ability to service its debts has pushed the cost of its government borrowing on the money markets very close to unsustainable levels.
The teleconference of finance ministers and central bank chiefs came just a few days after US President Barack Obama blamed Europe for slow growth in the US economy.
G7 countries outside the eurozone fear Europe's failure to get to grip with its worsening financial position will be a drag on global recovery.
With mounting concern about Spain's economy, there is speculation that Europe remains split over a clear way forward, especially on whether to launch common bonds to help ease borrowing costs.
But Germany repeated its position that fiscal union must precede the introduction of eurobonds.
Wolfgang Schaeuble, Germany's finance minister, said in an interview with the Handelsblatt newspaper on Tuesday: "The government has always said that before we start talking about joint debt management, we need real fiscal union."
The subject of eurobonds, which would consolidate eurozone debt and reduce the interest rate countries must pay to borrow money, was a divisive issue at a European Union summit last month.
'Three months left'
There was concern that some eurozone countries "have not taken sufficient action yet to address those issues of undercapitalisation of banks and building an adequate firewall", he told the Reuters news agency.
Spain's banking crisis and worries that Greece may be forced to leave the euro bloc have caused panic in the financial markets in the past few weeks. And now there are fears Cyprus may be forced to join Greece, the Republic of Ireland and Portugal in seeking a bailout.
Billionaire investor George Soros told a conference in Italy over the weekend that Europe had about "three months to save the euro", but that leaders did "not understand the nature of the crisis".
Many politicians, officials and economists believe that the creation of eurobonds is the way forward. And in France, Greece and elsewhere in Europe, there appears to be a backlash against austerity measures that many people complain are too severe.
However, Mr Schaeuble repeated Germany's firm resolve on both issues.
And on austerity, the finance minister said that countries must press ahead with budgetary cutbacks. "We cannot spare the affected countries the reform," he told Handelsblatt.
'Trust'
Mr Schaeuble said Spain was doing "everything right" with its reform measures, but acknowledged that the country was under severe pressure because of a rise in borrowing costs.
"We need to manage this... through close and trusting co-ordination," he said.
There were several unconfirmed reports over the weekend that Spain's prime minister, Mariano Rajoy, had been holding talks with European leaders about how to recapitalise the country's banks.
Spanish lender Bankia alone has asked for 23.5bn euros (£19bn) to help repair a balance sheet that has a vast exposure to the property market.
The financial problems come as new data on Tuesday showed that the eurozone's economies appear to be slowing.
The Markit purchasing managers' index fell to 46 in May from 46.7 in April, its lowest level in almost three years. A figure below 50 indicates contraction.
'Weak demand'
German output fell for the first time in six months, while declines in Spain and France accelerated.
The eurozone's private sector has now contracted for four months in a row.
The May figures indicate that "the economy is contracting at the fastest pace for around three years", said Markit's chief economist Chris Williamson.
"Companies report business activity to have been hit by heightened political and economic uncertainty, which has exacerbated already weak demand, both in the euro area and further afield."