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Asian share markets bounced broadly after Sino-US trade talks

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Reuters , SYDNEY: Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent, largely recovering from a sharp fall last Friday.

Japan’s Nikkei climbed 1.8 percent to its highest level of the year so far, while Shanghai blue chips rallied 2.1 percent.

E-Mini futures for the S&P 500 were flat as trade was thinned by a holiday in US markets, while spreadbetters pointed to a firmer opening for European bourses.

The Dow and the Nasdaq had boasted their eighth consecutive weekly gains on wagers the United States and China would hammer out an agreement resolving their protracted trade war.[.N]

The two sides will resume negotiations this week, with US President Donald Trump saying he may extend a March 1 deadline for a deal. Both reported progress in five days of talks in Beijing last week.

“That does not rule out a setback or two between now and the start of March,” said analysts at CBA in a note.

“Even so, we still think that both sides have good reasons to want to get to an agreement. And, so motivated, it makes an agreement more likely than not.”

There are also growing expectations of more reflationary policies from some of the world’s more powerful central banks.

The need for stimulus was highlighted on Monday by data showing a sharp slide in Singapore exports and a big drop in foreign orders for Japanese machinery goods.

Beijing is already taking action with China’s banks making the most new loans on record in January in an attempt to jumpstart sluggish investment.

Minutes of the Federal Reserve’s last policy meeting are due on Wednesday and should provide more guidance on the likelihood or not for rate hikes this year. There is also talk the bank will keep a much larger balance sheet than previously planned.

“Given the range of speakers since the January meeting who support “patience,” the Fed minutes should reiterate a dovish message overall,” said analysts at TD Securities in a note.

A roll call of Fed officials are speaking at various events this week including a round table on Friday covering the future of its balance sheet. [FED/DIARY]

EYEING THE ECB

The European Central Bank’s Olli Rehn told a German newspaper on Sunday that recent data point to a weakening euro zone economy and interest rates would remain at the current level until monetary policy goals have been met.

That came amid much speculation the ECB would launch another round of Targeted Long-Term Refinancing Operations (TLTRO) to support bank lending.

The risk of an easy ECB saw the euro touch a three-month low on Friday before then bouncing on dovish comments from Fed officials.

The single currency edged up 0.2 percent on Monday to $1.1312, though that was still well within the $1.1213/1.1570 trading range that has held since mid-October.

The dollar was steady on the yen at 110.53, having backed away from a two-month top of 111.12.

Sterling was a shade firmer at $1.2913 ahead of Brexit talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker this week.

All of which left the dollar down at 96.765 on a basket of currencies and away from last week’s top of 97.368.

In commodity markets, the drift in the dollar helped spot gold firm 0.2 percent to $1,323.56 per ounce.

Oil prices reached their highest for the year so far, buoyed by OPEC-led supply cuts and US sanctions on Iran and Venezuela. [O/R]

US crude was last up 25 cents at $55.84 a barrel, while Brent crude futures rose 5 cents to $66.30

Nepal to have 6.5 percent of economic growth during 2018/19 : IMF

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Gross domestic product (GDP)of Nepal  is estimated to have expanded by 6.3 per cent in Fiscal Year (FY) 2017/18 (mid-July 2017 to mid-July 2018), and headline inflation has averaged 4.2 per cent, held down by subdued food-price inflation.  The press release issued by International Monetary Fund (IMF) has highlighted  that Nepal’s economy is enjoying a solid expansion, supported by ongoing reconstruction activity following the 2015 earthquakes and increased growth in manufacturing and tourism-related sectors.

The Executive Board of the IMF on February 8, concluded the Article IV consultation with Nepa. Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

Nepal: Selected Economic Indicators, 2015/16–2019/20
2015/16 2016/17 2017/18 2018/19
Est. Projections
Output and prices (annual percent change)
Real GDP 0.6 7.9 6.3 6.5 6.3
Headline CPI (period average) 9.9 4.5 4.2 4.9 6.5
Headline CPI (end of period) 10.4 2.7 4.6 5.1 6.5
Fiscal Indicators (in per cent of GDP)
Total revenue and grants 23.3 24.4 25.5 29.2 29.4
of which: tax revenue 18.7 21 21.9 25.2 25.4
Expenditure 21.9 27.5 32 34.2 34.4
Expenses 16.5 19.6 23.1 26.8 27
Net acquisition of nonfinancial assets 5.5 7.9 8.9 7.4 7.4
Operating balance 6.8 4.8 2.4 2.4 2.4
Net lending/borrowing 1.4 -3.1 -6.5 -5 -5
Statistical discrepancy -0.9 -1.3 -3.1 0 0
Net financial transactions -2.3 1.8 3.5 5 5
Net acquisition of financial assets 4.7 1.4 2.6 -0.1 -0.1
Net incurrence of liabilities 2.4 3.2 6 4.9 4.9
Foreign 0.7 1.3 2.5 3.7 3.9
Domestic 1.7 1.9 3.6 1.2 1
Money and credit (annual per cent change)
Domestic credit 17.4 20.2 26.1 21.3 18.1
Private sector credit 23.2 18 22.3 19.8 16.9
Velocity 1 1 1 0.9 1
Saving and Investment (in per cent of nominal GDP)
Gross investment 33.9 45.7 51.8 55 57
Gross fixed investment 28.7 31.8 34.1 36.2 37.5
Private 23.3 23.9 25.2 28.8 30.1
Central government 5.5 7.9 8.9 7.4 7.4
Change in stock 5.2 13.9 17.7 18.7 19.4
Gross national saving 40.2 45.4 43.6 45.4 44.5
Private 33.2 41.8 42.4 44.1 43.3
Central government 7 3.6 1.2 1.2 1.2
Balance of Payments
Current account (in millions of U.S. dollars) 1,339 -93 -2,350 -2,778 -4,129
In per cent of GDP 6.3 -0.4 -8.2 -9.6 -12.5
Trade balance (in millions of U.S. dollars) -6,389 -8,446 -10,849 -12,899 -15,061
In per cent of GDP -30.2 -33.9 -37.7 -44.6 -45.6
Exports value growth (y/y per cent change) -28.8 9.9 15.5 5.3 8
Imports value growth (y/y per cent change) -7.4 30 27.4 17.9 16.2
Workers’ remittances (in millions of U.S. dollars) 6,253 6,556 7,224 8,495 9,084
In per cent of GDP 29.5 26.4 25.1 29.4 27.5
Gross official reserves (in millions of U.S. dollars) 8,574 9,264 9,304 8,558 6,788
Gross official reserves (in millions of U.S. dollars) 8,574 9,264 9,304 8,558 6,788
In months of prospective GNFS imports 9.6 8.3 7.2 5.7 4.4
Memorandum items
Public debt (in per cent of GDP) 27.9 26.4 30.4 33.1 34.1
GDP at market prices (in billions of U.S. dollars) 21.2 24.9 28.8 28.9 33
Exchange rate (NPR/US$; period average) 106.4 106.2 104.4 … …
Real effective exchange rate (average, y/y per cent change) 6 3.3 -0.1 … …
Sources: Nepali authorities; and IMF staff estimates and projections.

Likewise, the government expenditure has increased by 32.4 per cent (year-on-year) in FY 2017/18, propelled by Nepal’s transition to fiscal federalism and ongoing reconstruction spending. As in previous years, spending was concentrated in the last quarter of the fiscal year. Revenue growth was also substantial (18.9 per cent). Nevertheless, the fiscal deficit increased to 6.5 per cent of GDP, from 3.1 per cent of GDP in FY 2016/17.

Private sector credit has been expanding very rapidly in recent years, posting 24 per cent (y/y) growth in December 2018, following average growth rates above 20 per cent since FY 2015/16.

The current account has moved sharply into deficit position (8.2 per cent of GDP in FY 2017/18), following a modest deficit of 0.4 per cent in FY 2016/17. Imports grew by 27.4 per cent (y/y), following a 30 per cent expansion in FY 2016/17. Exports have also expanded, by 15.5 per cent, but this growth has applied to a low base (exports comprised 3.1 per cent of GDP in FY 2017/18). Nepal’s substantial trade deficit is partly financed by buoyant remittance inflows, which grew by 10.2 per cent (y/y) in FY 2017/18 and were equivalent to 25.1 per cent of Nepal’s GDP. As of December 2018, gross official foreign exchange reserves held by the Nepal Rastra Bank stood at US$ 8.3 billion, having declined by approximately US $1.2 billion from the record set in January 2018.

Academics from U.K. show concern on lack of action against sexual harassment in Tribhuvan University

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London : The Britain-Nepal Academic Council has shown its serious concern upon  lack of investigation and  serious action against the  allegation of sexual harassment (See link ) and misconduct to one of the former lecturer of the Tribhuvan University  and other few of similar cases from academic institutions published in national media.

Issuing an statement signed by 14 of the professors and lectures working in Britain , BNAC has urged to all the Universities and academic institutions in Nepal  to address the problem of any kind of harassment along with the sexual harassment , genders related harassment  and maintain the fair and fearless learning environment to the students and all the staffs.
BNAC has further elicited the responsibility of the university administration to ensure the safe and secure learning environment to all the  students and lecturers and address the problem through a clearer and precise regulations as Universities owe a duty of care both to their students and to their staff, and this duty includes ensuring a safe environment in which to work and study.  This would encourage survivors to come forward and report unacceptable and unlawful behaviour. Introducing such a policy would also be a chance for the university to demonstrate moral leadership at a time when crimes of violence against women and gender-based violence, and impunity for the perpetrators, seem to be on the rise in the country as a whole.
The full statement of BNAC : 
15/02/2019
BNAC Statement on the Alleged Sexual Harassment and Misconduct at Tribhuvan University, Nepal
The Britain-Nepal Academic Council (BNAC) is deeply concerned to hear about the lack of any investigation into the allegations of sexual harassment and misconduct levelled against a leading retired academic in Tribhuvan University, and about the lack of appropriate internal mechanisms of redress within the university. We call on Tribhuvan University and all other universities in Nepal without such policies and mechanisms in place to draft and introduce as soon as possible a policy on sexual harassment and misconduct along with (1) clear and transparent procedures for investigating such allegations, (2) adequate disciplinary procedures, and (3) appropriate remedies.1 The BNAC also urges Tribhuvan University and Nepal’s other universities not to rely solely on the law of the land, as the Vice Chancellor was reported recommending in the Kathmandu Post.2 Universities owe a duty of care both to their students and to their staff, and this duty includes ensuring a safe environment in which to work and study. Publishing a code of conduct in this way would encourage survivors to come forward and report unacceptable and unlawful behaviour. Introducing such a policy would also be a chance for the university to demonstrate moral leadership at a time when crimes of violence against women and gender-based violence, and impunity for the perpetrators, seem to be on the rise in the country as a whole.
Dr Krishna Adhikari (CNSUK/University of Oxford, Chairperson)
Dr Punam Yadav (University College London, General Secretary)
Dr Fraser Sugden (University of Birmingham, Treasurer)
Professor David Gellner (University of Oxford).
Professor Michael Hutt (SOAS, University of London)
Dr Ben Campbell (Durham University)
Professor Sondra Hausner (University of Oxford)
Dr Feyzi Ismail (SOAS, University of London) Premila van Ommen (University of Arts London)
Dr Sara Parker (Liverpool John Moores University)
Dr Stefanie Lotter (SOAS, University of London)
Dr Kalyan Bhandari (University of the West of Scotland)
Dr Tejendra Pherali (University College London) Professor Edwin van Teijlingen (Bournemouth University)

Kathmandu is the 5th best among top 10 cities to visit in the world: Lonelyplanet

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London :  “Kathmandu” , the capital city of Nepal has been  listed in the 5th place  among  the top 10 city to visit in the world by Lonelyplanet.
Kathmandu has been only one city to be listed in the top 10 recommendation from South Asia hence it can be considered as the No 1 best city from South Asia , Mr Binod Shrestha , travel operator form London said .
From  Asia only Kathmandu, the capital city of  Nepal and Shenzhen city of China are in the list
The world famous travel publication  Lonelyplanet has revealed the list of top 10 cities to visit in the world.
Among the 10 cities,  Copenhagen the capital city of Denmark has been listed in number one.
Shenzhen city of China has been listed in Number 2.
Similarly,  other cities are :

3. Novi Sad, Serbia

4. Miami, USA

5. Kathmandu, Nepal

Listing in 5th best cities  rank to the capital city of Nepal the lonely planet writes that  the aftermath of the 2015 earthquake, news reports from Kathmandu showed a city broken and in mourning, but today the narrative is all about reconstruction and rejuvenation.
 Sure, there’s work to do restoring the magnificent monuments that crumbled during the disaster, but historic sites are being returned to their former glory, and moves to calm the city’s infamous traffic, smog and noise have made Kathmandu more liveable than it has been in decades. There’s even reliable electricity and wi-fi as bonus creature comforts in the atmospheric and maze-like alleyways of the old city.
Rest of the cities listed in top 1o best are: 

6. Mexico City, Mexico

7. Dakar, Senegal

8. Seattle, USA

9. Zadar, Croatia

10. Meknès, Morocco

Parliamentary committee directs Nepal government to return and stop the recruitment of Women shoulders in Gurkha army

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Kathmandu : The International Relation committee of the house of the representatives of Nepal has directed the Government of Nepal to return Nepalese women shoulders recruited in Gurkha army.
The committee has stated that the recruitment of the women In Gurkha army without the agreement of government has to be stopped and recall all the candidates who have been already recruited.
The committee has directed the government to address the problem of Ex Gurkhas and review the treaty of recruiting the Gurkha army considering the  sovereignty and the freedom  of the country. The committee has directed the government to review the treaty as per the new constitution and the spirits of the foreign policy.
The IRC has also  directed the government of Nepal to take a serious action on the issue of equality and justice of ex Gurkha armies, said Pavitra Niraula , the chair of the International Committee of the parliament of Nepal.
The committee has also formed a team to amend the proposal regarding the issues of Ex Gurkhas  and given mandate for identifying  the best possible solutions for addressing the  Isseues of the Gurkhas.
The amendment committee consists of three members of MPs including  Bhim Rawal , Dipakprakash Bhatta and Dibya Rajbhandari.

International Federation of Journalists and Press Union Nepal condemn goverment plan to screw on social media

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Kathmandu : Nepal government led by KP Oli has come under severe criticism from national and international media organisations for floating a proposal to bring harsh laws to punish people for posting anti-government contents on social media.

In the proposed bill related to the management and regulation of information technology, the government has prescribed a fine up to Rs 1.5 million and/or five years imprisonment for individuals who post online contents deemed by the authorities as a character assassination or an attack on national sovereignty.

The International Federation of Journalists (IFJ) and its affiliated Nepal Press Union have strongly criticised the proposal, terming it as “improper”.

In a statement issued on Friday, the IFJ called on the government to hold consultations with stakeholders before bringing such legislation.

In a separate statement, the Nepal Press Union outrightly criticised the draft bill stating that the steps to control the social networking sites through law have borne out of the regressive mindset.

“The steps the government was taking is trying to restrict the freedom of expression guaranteed by the constitution,” the statement said, adding, “By trying to restrict the use of social networks, where the highest degree of freedom of expression is being practiced, the government is attacking the roots of democracy. The intent and character of the government have been evident through such decisions taken by the communist government.”

The Nepal Press Union has called on all the stakeholders to fight with determination against this effort of the KP Oli led government.

The IFJ said the proposed law forwarded by the government is a blatant attempt to control and muzzle freedom of expression on social media.

The government’s move to bring harsh laws against the social media comes at a time when people are posting in social media contents with severe criticism of President Bidya Bhandari’s office for acquiring millions of dollar worth luxurious vehicles and failure of Prime Minister Oli to deliver services as per his past commitments.

The proposed legislation, which will be tabled by the Ministry of Information and Communications Technology, also states that the citizens can only use those networking sites that are registered with the Department of Information of the government.

Health insurance policy for poor is not possible in Nepal with current government spending

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Amrit Banstola, Puspa Raj Pant, Santosh Bhatta & Shiva Raj Adhikari

TheBMJ  : The prioritization of universal health coverage (UHC) is one of the remarkable outcomes of the 2018/19 health budget of Nepal. The budget increased healthcare expenditure by NPR 24·64 billion (US$ 228 million). The Government of Nepal plans to work towards achieving UHC by making healthcare services affordable, reliable, and of a higher standard. The government plans to scale-up the government health insurance programme nationally and establish at least one healthcare facility in each ward. It hopes to implement the free availability of essential medicines in all health facilities; local production of essential medicines; and a tobacco levy (25 paisa per stick) on tobacco manufacturers and importers. However, the implementation is questionable with the budget that has been allocated. The proportion of current health funding is significantly lower than the government’s own target to attain 8% of the national budget for health expenditure, and the World Health Organization’s (WHO) recommendation of general government health expenditure of at least 5% of gross domestic product (GDP).

This comparatively low level of government health expenditure means that proposed investments in providing UHC will be hindered and progress in achieving the sustainable development goal (SDG) target 3·8 will be in jeopardy. In addition, maintaining the progress made so far in major health conditions that were largely possible due to greater health spending in those areas will be challenging. Public health programmes such as free essential drugs, the Aama programme (a national programme that provides free deliveries for women at public healthcare facilities, cash to women as a transport incentive for delivering at the healthcare facilities and for completing four antenatal care visits, incentives for healthcare providers attending deliveries and incentives to healthcare facilities), subsidies for the treatment of cancers, heart disease, kidney disease, and spinal injury will be hardest hit. The other likely consequences will be increased dependency on development assistance for health and out-of-pocket payments (OOPs) which are already 8% and 60% of total health expenditure respectively. Poverty and inequity in accessing health facilities will continue to increase, which is at odds with the pursuit of UHC and weakens the Nepalese Government’s vision of a ‘Prosperous Nepal, Happy Nepalis’.

Sustainable pooled financial resources for health (a combination of government health spending, social and private health insurance and development assistance for health) are essential to achieve UHC in Nepal, because this can protect people against financial risks and increase access to a healthcare facilities. A recent study conducted by Global Burden of Disease (GBD) Health Financing Collaborator Network linked increased pooled financial resources with progress towards UHC. According to the study, increasing pooled financial resources for health per capita by 10% increased the UHC index value (i.e., a measure of a country’s UHC service coverage) by 1·4%.

We are not arguing that only increased investment leads to better health and UHC. UHC is a broad concept and can be achieved in various forms for example, through strong political commitment, benchmarking attainment of UHC, learning from the best practices of other countries with similar political or economic contexts, and innovation, as mentioned by Director-General of the World Health Organization. Studies have also shown that greater spending does not always lead to better health outcomes. Japan’s universal health coverage is a good example to those aspiring to achieve UHC at a relatively low cost. The 2016 GBD study showed that even greater resources are available for the health sector. Nepal’s UHC index value will be 63·5 by 2030 which was 51·2 in 2015 (on a scale of 0 to 100, with 0 being the worst and 100 being the best).

Nepal can achieve progress in attaining UHC if the Government of Nepal considers health expenditure in a spirit of UHC that supports SDGs. In addition to wise health spending, the Government of Nepal needs to strengthen its monitoring system to ensure the financial resources spent on health are used efficiently. Finally, the Government of Nepal needs to continue pooling financial resources for health that can spread financial risks across a population.

This article was originally published in BMJ journal.

Amrit Banstola is a research associate based in Centre for Academic Child Health at the University of the West of England. @amrit_banstola

Puspa Raj Pant is a research fellow based in Centre for Academic Child Health at the University of the West of England.

Santosh Bhatta is a research associate based in Centre for Academic Child Health at the University of the West of England.

Shiva Raj Adhikari is a president of Nepal Health Economics Association, Kathmandu, Nepal.

Airbus to stop making world’s largest passenger planes A380 in 2021

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AP,Paris :European aviation giant Airbus says it will stop making its superjumbo A380 in 2021 after struggling to sell the world’s biggest passenger jet.

Airbus said in a statement Thursday that Emirates is cutting back its orders for the plane and as a result “we have no substantial A380 backlog and hence no basis to sustain production.”

The decision is a boon for rival Boeing and a blow for Airbus. Airbus had hoped the A380 would squeeze out Boeing’s 747 and revolutionize air travel as more people take to the skies.

Instead, airlines have been cautious about committing to the costly plane, so huge that airports had to build new runways and modify terminals to accommodate it. The double-decker planes started flying in 2008 and seat more than 500 passengers.

India warns of ‘heavy price’ after Kashmir attack kills more than 41 troops

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AFP : India and Pakistan’s troubled ties risked taking a dangerous new turn on Friday as New Delhi accused Islamabad of harboring militants behind one of the deadliest attacks in three decades of bloodshed in Indian-administered Kashmir.

At least 41 paramilitary troops were killed on Thursday as explosives packed in a van ripped through a convoy bringing 2,500 troopers back from leave not far from the main city Srinagar, police said.

Local media reported that the Pakistan-based Jaish-e-Mohammed Islamist group claimed responsibility, with the vehicles driven by a known local militant, Aadil Ahmad alias Waqas Commando.

Kashmir has been split between India and Pakistan since independence from Britain in 1947 with both nuclear-armed countries, which have fought three wars, claiming it as their own.

Jaish-e-Mohammed is largely considered to be one of the most active Pakistan-backed insurgent groups fighting in Kashmir, and was the first militant group to introduce suicide bombers into the conflict.

ndia’s foreign ministry said that Jaish-e-Mohammed head Masood Azhar “has been given full freedom by… Pakistan to operate and expand his terror infrastructure in territories under the control of Pakistan and to carry out attacks in India and elsewhere with impunity”.

“I want to tell the terrorist groups and their masters that they have committed a big mistake. They have to pay a heavy price,” Indian Prime Minister Narendra Modi said Friday after an emergency cabinet meeting.

“If our neighbouring country thinks that it will succeed in creating instability through such acts and conspiracies in our country, they should stop dreaming,” Modi said, adding that the “blood of the people is boiling”.

Arun Jaitley, finance minister, promised all steps to “ensure the complete isolation from the international community of Pakistan of which incontrovertible evidence is available of having a direct hand in this gruesome attack”.

Islamabad, however, hit back at the suggestion.

“We strongly reject any insinuation by elements in the Indian media and government that seek to link the attack to Pakistan without investigations,” the Pakistan foreign ministry said.

– Body parts –

The United States condemned the attack in “the strongest terms”, and called on “all countries…to deny safe haven and support for terrorists”.

wo buses of the Central Reserve Police Force (CRPF) in the 78-vehicle convoy on the Srinagar-Jammu highway bore the brunt of the blast, heard miles away.

“No one from the first bus survived,” a senior police official told AFP on condition of anonymity, predicting the death toll could rise higher still.

Blackened, mangled remains of at least one vehicle littered the highway. Reports said bodies and body parts were strewn around, making victims’ identification difficult.

Afterwards, hundreds of government forces cordoned off around 15 villages in the district the bomber came from and conducted house-to-house searches, a police officer and witnesses said.

A team of elite anti-terror agency investigators were flying to Srinagar on Friday and India’s interior minister Rajnath Singh was also scheduled to visit.

The attack surpasses one in 2016 that was the biggest in 14 years, claiming the lives of 19 soldiers in a brazen pre-dawn raid by militants on the Uri army camp.

India responded to that with the now-famous “surgical strikes” — there is a Bollywood movie — across the heavily-militarised Line of Control, the de-facto border, several miles into Pakistan-administered Pakistan.

– Hawks –

“The current situation has all the making of an India-Pakistan crisis,” said Moeed Yusuf from the US Institute of Peace. “The next 24-48 hours are crucial. This could get bad.”

On Friday India announced it was withdrawing its Most Favoured Nation Status — covering trade links — on Pakistan.

But beyond this, Modi has “no easy options”, Manoj Joshi from the New Delhi based Observer Research Foundation think-tank told AFP.

Military action could “escalate into something big”, he said.

Two people were sentenced to death by a court in Myanmar for Muslim lawyer’s murder

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AFP : Two people were sentenced to death by a Myanmar court Friday for the murder of a Muslim lawyer and Aung San Suu Kyi advisor, after a drawn-out trial backlit by allegations of impunity with a main suspect still at large.

Ko Ni, whose work and faith made him a target of hate speech online by Buddhist nationalists, was shot in the head at point blank range outside Yangon airport in January 2017, while holding his infant grandson.

The brazen daytime murder shocked the country and came about eight months after civilian leader Suu Kyi’s administration entered office.

Ko Ni was a legal advisor to her National League for Democracy and had been working on plans to amend the 2008 military-drafted constitution, which gifts the armed forces control of defence and a quarter of parliamentary seats.

Critics have said the slow trial fell short of establishing a complete picture of what led to the murder, pointing to the military backgrounds of two suspects on trial and an elusive fugitive thought to be the mastermind.

Judge Khin Maung Maung sentenced gunman Kyi Lin, who also shot and killed a taxi driver while fleeing, “to death until he dies by hanging.”

Though Myanmar has the death penalty it has not been carried out in at least 10 years, according to Amnesty International.

The shooter also received an extra 23 years and hard labour for weapons charges and the death of cab driver Nay Win, who chased him after Ko Ni was gunned down.

Accomplice Aung Win Zaw, who was at the airport, was also sentenced to death.
Two other defendants Zeya Phyo and Aung Win Tun, who assisted at different stages of the plot, received five years and three years imprisonment with hard labour respectively.

Both sides can appeal. The prosecutor said he would seek a higher sentence for Zeya Phyo.
Armed police, journalists and diplomats crowded the dilapidated courthouse on the outskirts of Yangon, awaiting the verdict.

Sean Bain, legal adviser for the International Commission of Jurists, said in a statement afterwards that several details about the murder plot were still unknown.

He added that lines of inquiry related to political motivations “don’t appear to have been satisfactorily pursued in the investigation and prosecution”.

Myanmar was ruled by military-backed regimes for almost five decades. The 2008 charter enshrines the military’s political power by giving it an effective veto over constitutional change.

It also bars presidential candidates with foreign spouses. The clause was believed to be aimed at Suu Kyi, who had a family with a British academic.

Instead she serves as state counsellor, a position Ko Ni is said to have devised.

The NLD formed a committee this month to discuss changes to the constitution, a move opposed by military MPs.

Ko Ni had been one of the few high-profile Muslims still involved in politics in Buddhist-majority Myanmar, after the NLD failed to enlist any Muslim candidates in its historic 2015 election run.

The case is one of many that have marred the international legacy of former dissident hero Suu Kyi, who was criticised for not going to his funeral.

Suu Kyi’s global image lays in tatters for her handling of the Rohingya crisis and the jailing of two Reuters journalists.

The biggest intake of Gurkha recruits in 33 years has arrived in the UK.

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Force Network, London:  The biggest intake of Gurkhas in 33 years has safely reached the Infantry Training Centre in Catterick.
The last-minute increase in numbers meant the Infantry Training Centre (ITC) in Catterick had to free up an extra accommodation block and Gurkha Brigade had to supply an additional 32 staff, the force network reported 

The decision to increase the numbers came at quite short notice to Gurkha Company.

Originally, they thought they were receiving 320 recruits instead of 400.

To make sure the facilities were adequate for the new intake, the Brigade swiftly scrambled 32 new staff and the ITC made an extra accommodation block available.

The new recruits had to be spread across six different flights, to get everyone safely across to the UK.

The day of their arrival in the United Kingdom is arguably the most important day of the year for Gurkha Company.

The new recruits will now have seven weeks in barracks, during which they will learn basic soldiering theory.

Only after the seven weeks have passed will they be allowed back off camp and be able to explore the outside world.

Video :

 

44 CRPF personnel were killed in Kashmir car bombing in India

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New Delhi: At least 44 CRPF personnel were killed and another 20 injured when a terrorist drove an explosive-laden SUV into a convoy of vehicles carrying paramilitary troops on a highway in South Kashmir’s Pulwama district on Thursday.

This was one of the deadliest attacks in the 30-year-long militancy in the state. Nineteen personnel had died in 2016 when terrorists attacked an army brigade headquarters in Uri. Preliminary investigations identified the suicide bomber as Adil Ahmad Dar, a local memember of the Jaish-e-Mohammed.

He rammed the SUV, with an estimated 200-350 kg explosives, into a bus carrying 39 personnel from the 76 battalion of the CRPF around 3.15pm. The convoy of 78 vehicles with 2,500 personnel was on way from a transit camp in Jammu to Srinagar, CRPF inspector general for operations Zulfiqar Hassan told reporters.

Thursday’s was the first car bombing since 2005, when a series of attacks was reported from various locations in valley. The JeM had claimed the responsibility then as well.

 

Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy

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REUTERS : A key supplier of talc used in Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma.

Imerys Talc America, the U.S. unit of French group Imerys SA, said it filed for bankruptcy because it lacks the financial clout to defend against nearly 15,000 lawsuits over its talc mineral product.

Imerys said that while it continued to believe the lawsuits are without merit, the prospect of rising settlement and defense costs over the next few years prompted the decision to file for bankruptcy.

They also cite a multibillion-dollar verdict against Johnson & Johnson and the ensuing media attention as factors that led to the Chapter 11 filing.

In July, a Missouri jury ordered J&J to pay a record $4.69 billion to 22 women who said asbestos in talc caused ovarian cancer. The healthcare conglomerate has said it is appealing that verdict.

Imerys settled for an undisclosed amount prior to the trial.

Imerys and J&J have repeatedly denied the allegations, saying numerous studies and tests by regulators worldwide have shown their talc to be safe.

J&J on Wednesday declined to comment on Imerys Talc America’s Chapter 11 filing.

Reuters on Dec. 14 published a report detailing that J&J knew that the talc in its raw and finished powders sometimes tested positive for small amounts of asbestos from the 1970s into the early 2000s – test results it did not disclose to regulators or consumers.

J&J has said that its talc products do not contain asbestos.

Bankruptcy provides Imerys a single forum to settle the widespread litigation. A similar strategy has been used by numerous companies facing litigation over faulty breast implants, asbestos-tainted products and recalled automotive airbags.

“After carefully evaluating all possible options, we determined that pursuing Chapter 11 protection is the best course of action to address our historic talc-related liabilities and position the filing companies for continued growth,” Imerys Talc America said in a statement.

Two North American subsidiaries of Imerys, Imerys Talc Vermont and Imerys Talc Canada, also filed for Chapter 11 on Wednesday.

Mark Lanier, a Texas-based lawyer representing many of the more than 11,700 talc plaintiffs, on Wednesday said Imerys Talc America’s bankruptcy would not change the litigation.

“We have always targeted our cases against J&J and Colgate Palmolive, the companies that put the asbestos laced talc into the products,” Lanier said.

Colgate-Palmolive is another defendant in the U.S. talc litigation. The New York-based company sold Cashmere Bouquet, a cosmetic talcum powder, from 1871 to 1995.

Colgate did not respond to a request for comment. It has denied allegations that its talc products cause cancer.

Nepal launches program to utilise public fund for hydropower development

Posted on by SAT News Desk

Kathmandu: Prime Minister KP Sharma Oli has announced that he would purchase the Initial Public Offering (IPO) of the hydropower project to be built in people’s money.

At the programme ‘Nepal ko Pani Janata ko Lagani, Harek Nepali Bidyutko Share Dhani’ (Water of Nepal for People of Nepal, Each Nepali a Shareholder of Hydropower) launched by the Ministry of Energy, Water Resources and Irrigation from today, KP Oli expressed his intent.

According to the Ministry of Energy, Water Resources and Irrigation, various government entities will encourage people to invest in hydro projects under the ambitious People’s Hydropower programme.

The government has unveiled a plan to build 19 projects in six provinces. The government, by mobilising resources from general people, will invest in projects like Tamakoshi-5 (96 MW), Upper Arun (725 MW), Trishuli 3B (37 MW) and Bheri Babai (48 MW).

Speaking at the launch programme, Energy Minister Barsha Man Pun said, “This programme can make Nepal self sustainable in hydropower so that we will not have to seek help of foreign investors.”

The total cost of the project according to the government is around Rs 700 billion, of which 70 per cent will be loan and 30 per cent will be self-funded.

According to the Ministry, the loan amount will be collected from Employee Provident Fund, Citizen Investment Trust, Hydropower Investment and Development Company, Nepal Telecom, Rastriya Beema Sansthan, Nepal Police and Armed Police Welfare Fund.

‘DON’T WANT TO HIDE,’ SAYS AUTHOR SALMAN RUSHDIE, 30 YEARS AFTER FATWA

Posted on by SAT News Desk

AFP, Paris: After decades spent in the shadow of a death sentence pronounced by Ayatollah Ruhollah Khomeini, Salman Rushdie is quietly defiant. “I don’t want to live hidden away,” he told AFP during a visit to Paris.

The novelist’s life changed forever on February 14, 1989, when Iran’s spiritual leader ordered Rushdie’s execution after branding his novel “The Satanic Verses” blasphemous. Like a kind of reverse Valentine, Tehran renewed the fatwa year after year.

Rushdie, who some say is the greatest writer India has produced since Tagore, spent 13 years living under a false name and constant police protection.

“I was 41 back then, now I am 71. Things are fine now,” he said in September.

“We live in a world where the subject changes very fast. And this is a very old subject. There are now many other things to be frightened about — and other people to kill,” he added ruefully.

Rushdie stopped using an assumed name in the months after September 11 2001, three years after Tehran had said the threat against him was “over”.

But armed plainclothes police nonetheless sat outside the door of his French publisher’s office in Paris during an interview with AFP. Several others had taken up positions in the courtyard.

Earlier, Rushdie had assured a sceptical audience at a book festival in eastern France that he led a “completely normal life” in New York, where he has lived for nearly two decades.
“I take the subway,” he said.

“The Satanic Verses” was Rushdie’s fifth book, he has now written his 18th.

Titled “The Golden House” it is about a man from Mumbai, who much like the author, reinvents himself in the Big Apple in a bid to shake off his past.

The dark years of riots, bomb plots and the murder of one of the book’s translators and the shooting and stabbing of two others now “feels like a very long time ago,” he said.

“Islam was not a thing. No one was thinking in that way,” he explained of the period when “The Satanic Verses” was written.
“One of the things that has happened is that people in the West are more informed than they used to be,” he added.

Even so, the book was greatly misunderstood, he insisted: “Really it’s a novel about South Asian immigrants in London.”

Rushdie’s friend, the British Pakistani writer Hanif Kureishi, reckons no one “would have the balls today to write ‘The Satanic Verses’, let alone publish it.”

But even Kureishi, who wrote an acclaimed novel “The Black Album” in its aftermath about young British Muslims radicalising themselves, admitted that he never saw the controversy coming when he read a proof copy.

He mused: “I didn’t notice anything about it that might rouse the fundamentalists. I saw it as a book about psychosis, about newness and change.”
Indian author and journalist Salil Tripathi of PEN International, which campaigns for writers’ rights, said he hoped major publishers would still be brave enough to publish “The Satanic Verses”.

“I have not totally lost hope, but undoubtedly the Rushdie case has created a mental brake. A lot of subjects are now seen as taboo,” he conceded.
Today, intimidation is carried out by foot soldiers rather than declared by governments, he said, suggesting that now all religious clerics have to do to rouse the angry masses is to voice their dislike for a publication.

Nepal Entrepreneurship summit 2019 kicked off in Kathmandu

Posted on by SAT News Desk

KATHMANDU :  Nepal Entrepreneurship summit 2019 kicked off Thursday in Kathmandu bringing together government officials, youth entrepreneurs, industry leaders and venture capitalists from Nepal, China, India, Singapore among others.

The summit covers the start-up show cases cum exhibition, networking sessions, workshops, talks by start-ups and venture capitalists and special talks by entrepreneurs from Nepal, China, India and Singapore, according to the organizers.

Confederation of Nepalese Industry, a grouping of medium and large scale Nepali industries in collaboration of Nepal’s Ministry of Industry, Commerce and Supply and other private enterprises organized the one-day event.

Nepal’s President Bidya Devi Bhandari inaugurated the summit that aims to create networking platform for start-ups and small and large scale enterprises, promote new talents, technology and innovation along with entrepreneurship and nurture conductive business environment for their operation.

President Bhandari said that Nepal should promote entrepreneurship to create employment opportunities within the country so that large number of Nepali people should not go abroad for employment.

As many as 358,815 Nepalis left for foreign employment in the last fiscal year 2017-18 that concluded in mid-July last year and as many as 113,390 people have already left for employment abroad during the first six months of the current fiscal year 2018-19, according to Department of Foreign Employment, a government body that issues permits to go abroad for migrant Nepali workers.

President Bhandari stressed on investing in youths having new ideas, creating investment friendly environment, promoting vocational education and training to promote entrepreneurship in the country.

Pointing out burgeoning trade deficit of Nepal which has resulted in depletion in foreign exchange reserve, she stressed that on promoting exports by using domestic resources and talents of Nepali youths. Share of exports in Nepal’s total foreign trade stands less than six percent as of first six months of the current fiscal year, according to Nepal Rastra Bank, central bank of the Himalayan country.

Nepali Minister for Industry, Commerce and Supply Matrika PrasadYadav said that Nepali government was committed to create investment friendly environment to promote domestic production and boost exports. “We are amending a number laws and policies to promote investment,” he said, during the inauguration session of the summit.

With Nepal adopting federal system through the implementation of new constitution introduced in 2015, the theme of the summit is “Federal Nepal: Opportunities for Investment and Growth.”

Industry Ministers from all seven provincial governments participated in the event to discuss on the opportunities available for the entrepreneurs in each province.