On ‘fiscal cliff,’ both sides lay groundwork for debate’s next phase



Obama telephoned House Speaker John A. Boehner (R-Ohio) and Senate Majority Leader Harry M. Reid (D-Nev.) over the weekend, in a sign that high-level negotiations are advancing with only weeks to go before an automatic series of spending cuts and tax hikes starts to hit nearly every American.

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S. Korea tightens limit on forex forward positions






SEOUL: South Korea announced Tuesday it was lowering the ceiling on foreign exchange forward positions by foreign and local banks, to ease currency volatility after a sharp appreciation in the Korean won.

The finance ministry said local branches of foreign banks will have to limit forward deals to 150 per cent of their equity capital, down from the current 200 per cent.

The ceiling for domestic banks will be lowered to 30 per cent from 40 per cent.

The new restrictions will come into force from December 1, but with a one-month grace period, the ministry said in a joint statement with the central bank and financial regulators.

"Korea's relatively sound economic fundamentals and ample global liquidity are raising the chances that the volatility of cross-border capital movements will increase," the statement said.

"Korea plans to preemptively take action, if needed, in a bid to prevent volatility of foreign capital flows from hitting the financial market," it added.

The Korean won has gained about nine per cent against the dollar since May -- a worrying trend for the country's export-driven economy which is already struggling with the impact of the downturn in its US and European markets.

Restrictions on foreign exchange forward positions were last tightened in July 2011 as capital inflows intensified.

Seoul fears that "hot money" coming into the country could exit just as swiftly -- as it did during the 1997-1998 East Asian financial crisis, which forced the country to seek IMF aid, and the 2008 global crisis.

- AFP/ck



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Green tax on diesel cars: Auto sector slams cess proposal

NEW DELHI: The automobile industry has come out against any proposal to impose an additional tax on diesel cars over environmental issues.

"Diesel is not as polluting as it is made out to be. How can you tax a technology that is very clean and more fuel efficient?" said Vishnu Mathur, DG of industry lobby group, Society of Indian Automobile Manufacturers. While diesel is not a big polluter, there are other industries that need to be checked into, he said, adding, "What about power producers, the industry and gensets?" P Balendran, VP at General Motors India, also countered the stand that diesel is more polluting. "It is energy saving and is more fuel efficient than petrol," he said.

Mayank Parek, COO at Maruti Suzuki, said that while pollution levels certainly need to be controlled, taxing diesel cars is not an answer. "It is not only cars that pollute. In fact, their contribution to pollution is very low when compared to other industries."

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Space Pictures This Week: Space "Horse," Mars Rover, More





































































































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Rx OD Risks: Grapefruit-Meds Warning Expanded


Nov 26, 2012 5:48pm







gty grapefruit juice medication ll 121126 wblog Grapefruit, Medicine Interaction Warning Expanded

Image credit: Johner/Getty Images


ABC News’ Ben Maas reports:


It has long been known that grapefruit juice can pose dangerous — and even deadly — risks when taken along with certain medications. Now, experts warn the list of medications that can result in these interactions is longer than many may have believed.


Check below to see whether your medication appears on the list.


In a new report released Monday in the Canadian Medical Association Journal, researchers at the University of Western Ontario said that while 17 drugs were identified in 2008 as having the potential to cause serious problems when taken with grapefruit, this number has now grown to 43.


“The frequency of these reactions may be small, but the risks are not worth it, especially for drugs which could cause sudden death,” said lead study author David Bailey, a professor of pharmacology and one of the first to report the interactions between grapefruit juice and certain medications 20 years ago. “Physicians need to know that this affects a number of new drugs and apply this information to their practice and patients.”


So how does a common breakfast fruit cause these problems? Grapefruits contain chemicals called furanocoumarins that interfere with how your body breaks down drugs before they enter the bloodstream. By preventing this normal breakdown of a drug, these chemicals in grapefruit can effectively cause a drug overdose and more severe side-effects.


Among the side effects sometimes seen with grapefruit-induced overdoses are heart rhythm problems, kidney failure, muscle breakdown, difficulty with breathing and blood clots. Atorvastatin — commonly known by the brand name Lipitor and taken by millions of Americans — is one of the drugs that have been linked to serious cases of drug toxicity when combined with grapefruit products. Other common heart medications — including verapamil and amiodarone — have also led to serious interactions when consumed with grapefruit or grapefruit juice.


While there have been many reported cases of serious side effects attributable to this problem, the total number of Americans who have been affected is not known.


As little as one grapefruit or one 8-ounce glass of grapefruit juice can cause an effect that may last more than 24 hours.  Other fruits including Seville oranges, limes, and pomelos can have the same effect, although sweet orange varieties do not produce this interaction.



“People know that drugs react with drugs, but fewer are aware of drug-food interactions,” said Professor Paul Doering of the University of Florida Pharmacy Department. “Health professionals need to learn as much as they can about this.  Undetected there are very serious adverse effects.”


For consumers, the best advice may be to ask a doctor or pharmacist when they are prescribed a new drug whether there are foods or other medicines that they should avoid.



A-C
Alfentanil (oral)
Amiodarone
Apixaban
Atorvastatin
Buspirone
Clopidogrel
Crizotinib
Cyclosporine


D-F
Darifenacin
Dasatinib
Dextromethorphan
Domperidone
Dronedarone
Eplerenone
Erlotinib
Erythromycin
Everolimus
Felodipine
Fentanyl (oral)
Fesoterodine


H-P
Halofantrine
Ketamine (oral)
Latatinib
Lovastatin
Lurasidone
Maraviroc
Nifedipine
Nilotinib
Oxycodone


P-Z
Pazopanib
Pimozide
Primaquine
Quinine
Quetiapine
Quinidine
Rilpivirine
Rivaroxaban
Silodosin
Simvastatin
Sirolimus
Solifenacin
Sunitinib
Tacrolimus
Tamsulosin
Ticagrelor
Triazolam
Vandetanib
Venurafenib


Verapamil
Ziprasidone



SHOWS: World News







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How Hillary Clinton’s past choices predict her future



It was a friendly crowd — the annual meeting of her husband’s foundation, the Clinton Global Initiative — and people may have been eager to hear her speech about using U.S. aid to target investment barriers such as old land tenure laws. But really, they were there to see her.

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Oil down in Asian trade






SINGAPORE: Oil prices were down in Asian trade Monday as markets awaited the outcome of a eurozone finance ministers' meeting aimed at unlocking the next tranche of aid to debt-strapped Greece.

Investors were also concerned about looming tax increases and huge spending cuts in the United States, with analysts fearing they could lead to another slowdown in the world's biggest economy.

New York's main contract, West Texas Intermediate (WTI) for January delivery, was down 31 cents to $87.97 a barrel in the morning, and Brent North Sea crude also for January eased 23 cents to $111.15.

"Having just enjoyed an unexpectedly strong week, global markets remain on a knife edge with uncertainty over Greece and the US taking centre stage again," said Jason Hughes, head of premium client management at IG Markets Singapore.

Eurozone finance ministers were due to meet in Brussels on Monday for the third time in two weeks as part of efforts to decide on the next slice of aid to Greece, which is in danger of running out of money.

Greece, at the centre of a eurozone debt crisis, has been waiting since June for a loan installment of 31.2 billion euros ($40 billion), part of a 130-billion-euro financial assistance package initially granted early this year.

By the end of next month, Athens is also due to receive two more aid payments, worth 5.0 and 8.3 billion euros, on condition it implements a series of unpopular austerity measures.

Talks about the "fiscal cliff" in the United States -- a combination of tax hikes and spending cuts set to take effect on January 1 barring a compromise among US lawmakers -- were also keeping investors on the edge.

"Traders are likely to be bogged down by fiscal cliff talks again this week. Very little has happened in the past 10 days, partly due to the Thanksgiving break, but time is slipping away," Hughes said.

Another slowdown in the US economy will affect crude demand as the United States is the world's biggest oil consuming nation.

- AFP/ck



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26/11 anniversary: Experts doubt netas’ claim of safe Mumbai

MUMBAI: Senior police officers and politicians declared on Sunday that Mumbai is prepared to repel any attack of the magnitude of 26/11 but their words were met with disbelief and scepticism.

On the eve of the fourth anniversary of the bloody assault, home minister R R Patil admitted that law-enforcement agencies were unequipped to fend off the 10 Pakistani terrorists who landed in Mumbai by sea on November 26, 2008, and wreaked terror on the city.

"We have learnt our lessons. In the past four years, we have stepped up security not only in Mumbai but also in entire Maharashtra. We now have state-of-the-art weapons and adequate manpower. I am confident that we are prepared to take on terror attacks of any magnitude," claimed the home minister.

Patil argued that the Democratic Front government had implemented in letter and spirit the recommendations of the Ram Pradhan committee, which was set up in the wake of the 26/11 attack to examine the preparedness of Mumbai police.

Anti-terrorism squad chief Rakesh Maria echoed Patil: "In November 2008, we were taken aback owing to the magnitude of the attack. We were not prepared at all. In the last four years, we have redrafted our strategy. We now have a standard operation procedure in place. Everyone from a constable to the DG today knows his task in the event of an attack."

Mumbai police commissioner Satyapal Singh too said the force had learnt from the past. "I do not say that there is no threat. But the force is prepared and confident," added Singh.

The contentions were, however, decried by a former DGP who asserted that Mumbai police was still grossly unprepared. "A large number of the Pradhan committee recommendations, particularly on manpower deployment, weapons and coordination, have not been implemented," he told TOI on condition of anonymity. "Even today, police personnel do not have adequate ammunition for training and practice." The former DGP's declaration, other ex-policemen said, was borne out by evidence on the ground.

The state government's ambitious Rs 800-crore plan to install 6,000 CCTV cameras around Mumbai was still in tendering stage after a sputtering start. The city's coastal security was still wanting: patrol boats and amphibian vehicles were either out of order or without fuel; policemen required to protect the coastline did not even know how to swim.

Furthermore, the state's elite Force One, which was created along the lines of the National Security Guard, did not have a home of its own in the city for training.

Still, Patil said the only matter of concern was the delay in the installation of the CCTV camera network. "We were in the final stages of allotting the contract but it had to be cancelled after a member of the chosen consortium was found to have been blacklisted earlier. As a result, we initiated the entire process afresh. I am sure that in the next one year, we will have a CCTV network for the metropolis," Patil said.

(With inputs from V Narayan)

26/11 claims and the reality

While the ATS chief and home minister claim the city is prepared for another terror attack, the evidence on the ground suggests otherwise. For example, the plan to install CCTV cameras is yet to be implemented, coastal security is in tatters and disaster management is beset by poor cooperation.

Intelligence sharing and coordination

As Ajmal Kasab and his cohorts went on the rampage, several security agencies came together and worked as a team to terminate the carnage . The result was the death of nine terrorists and Kasab's arrest . But that was in 2008. Since then, ignoring national interest, most security agencies have scrapped with each other to bag credit for passing victories against terror groups. The dearth of intelligence-sharing and coordination was evidenced by the escape of terror principal Yasin Bhatkal earlier this year. Although Delhi police's Special Cell was on his tail, it did not inform Maharashtra ATS, which was working on the same case. In the confusion, Bhatkal slipped away. Similarly, reports said, Special Cell did not keep the ATS in the loop when getting 26/11 co-conspirator Abu Jundal extradited from Saudi Arabia. Meanwhile, efforts to bolster intelligence gathering too have only just edged forward. The Maharashtra government set up an intelligence academy to recruit and train specialists. But, of the 200 recruits, 75 soon left for better opportunities in the private sector.

Bulletproof jackets

Joint police commissioner Hemant Karkare's death in 26/11 raised alarming questions about the quality of the bulletproof jacket he wore during the attack. It was said that the jackets the state had acquired were of poor standard . Had Karkare's jacket been better, many argued, perhaps his life could have been saved. The widespread ire aimed at the state prompted it to begin the process of procuring high-quality bulletproof jackets a week after the attack. However, because of technical reservations, no company was awarded the contract for three years. Finally, the state got the right jackets from the agencies that supply such protective wear to the NSG and CRPF. In the last one year, it has procured over 3,000 bulletproof jackets.

Coastal security

The ease with which 26/11 gunmen landed by sea in Mumbai exposed a glaring chink in the city's armour. Eager to be seen as rectifying the fault, the state vowed to beef up coastal security. Yet, its promises scarcely translated into lasting work. Set up to protect the coastline, Sagari police station even today operates from rooms in governmental quarters at Mahim. It still cannot register an FIR, for which it has to depend on the Yellow Gate police station. Together, the two stations are reportedly short of 1,180 policemen. Five of their 14 amphibian vehicles and 13 of their 27 patrol boats are in repair yards. Lacking a jetty, Sagari police park boats at Malad or near the Gateway of India. Worst of all, most personnel at the two stations neither have the expertise to run the patrol boats nor basic swimming skills.

Medical care

Every time a disaster rocks Mumbai, causing mass casualties, the inadequacies of trauma care facilities at public hospitals get highlighted. During 26/11, most victims were rushed to the state-run St George and GT hospitals but soon they had to be shifted to bigger centres like JJ Hospital. Four years on, no lessons have been learnt. Sion Hospital till date is the only civic-run facility to have a dedicated trauma care centre. Hospitals such as JJ and KEM have the capacity to care for 500 casualty patients, but, as JJ Hospital dean Dr T P Lahane points out, it is not the same as having a hub where doctors from neurosurgery, orthopaedics, surgery and anaesthesia are available round-the-clock .

State of surveillance

The state's ambitious Rs 800 crore plan to install 6,000 CCTV cameras around Mumbai has sputtered forward ever since 26/11. To give the plan a boost, home minister R R Patil set up a high-level committee and led a delegation to the UK to study the CCTV surveillance grid there. But just as the contract was to be granted, it turned out that one of the firms in the chosen consortium had been blacklisted earlier . As a result, a fresh tendering process was initiated. Till now, only Raj Bhavan, CM residence Varsha and Patil's residence Chitrakut are guarded by CCTV networks. The city will likely have to wait for at least another year for its surveillance system.

Arms & ammo

Mumbai police received sophisticated arms, ammunition and communication gadgets in the wake of the 2008 attack. While rifles are still used for local policing, police now have AK-47 s and MP5 submachine guns to ward off an assault as big as 26/11. In addition, each office of regional police commissioner is equipped with a bulletproof vehicle.

Bomb suits

In the last four years, there has been no dearth of alert citizens calling the bomb detection and disposal squad, alerting it of suspicious objects on the city's streets. What has been lacking is bomb-disposal suits and sniffer dogs. The squad urgently needs more suits, but the procedure has been held up on account of an alleged scam. The economic offences wing this August arrested a businessman for allegedly cheating the state out of Rs 6.25 crore by providing low-quality bomb disposal suits.

Railway security

Post-26 /11, electronic surveillance was made a priority for securing railway stations. According to the Government Railway Police, there are about 1,500 closed-circuit television cameras at 90 of the 136 stations on the suburban network. The Integrated Security System—to be implemented on CR—will bring in advanced CCTVs, vehicle scanners and baggage scanners. The GRP has also stepped up visibility on stations and introduced random checking of passengers and baggage on platforms, foot overbridges and subways. Armed riot control policemen are deployed at stations like CST and Dadar to handle any situation. Furthermore, city police are frequently roped in for anti-sabotage checks. More AK47s and SLRs with ammunition have been procured.

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Distant Dwarf Planet Secrets Revealed


Orbiting at the frozen edges of our solar system, the mysterious dwarf planet Makemake is finally coming out of the shadows as astronomers get their best view yet of Pluto's little sibling.

Discovered in 2005, Makemake—pronounced MAH-keh MAH-keh after a Polynesian creation god—is one of five Pluto-like objects that prompted a redefining of the term "planet" and the creation of a new group of dwarf planets in 2006. (Related: "Pluto Not a Planet, Astronomers Rule.")

Just like the slightly larger Pluto, this icy world circles our sun beyond Neptune. Researchers expected Makemake to also have a global atmosphere—but new evidence reveals that isn't the case.

Staring at a Star

An international team of astronomers was able for the first time to probe Makemake's physical characteristics using the European Southern Observatory's three most powerful telescopes in Chile. The researchers observed the change in light given off by a distant star as the dwarf planet passed in front of it. (Learn how scientists found Makemake.)

"These events are extremely difficult to predict and observe, but they are the only means of obtaining accurate knowledge of important properties of dwarf planets," said Jose Luis Ortiz, lead author of this new study and an astronomer at the Instituto de Astrofisica de Andalucia, in Spain.

It's like trying to study a coin from a distance of 30 miles (48 kilometers) or more, Ortiz added.

Ortiz and his team knew Makemake didn't have an atmosphere when light from the background star abruptly dimmed and brightened as the chilly world drifted across its face.

"The light went off very abruptly from all the sites we observed the event so this means this world cannot have a substantial and global atmosphere like that of its sibling Pluto," Ortiz said.

If Makemake had an atmosphere, light from the star would gradually decrease and increase as the dwarf planet passed in front.

Coming Into Focus

The team's new observations add much more detail to our view of Makemake—not only limiting the possibility of an atmosphere but also determining the planet's size and surface more accurately.

"We think Makemake is a sphere flattened slightly at both poles and mostly covered with very white ices—mainly of methane," said Ortiz.

"But there are also indications for some organic material at least at some places; this material is usually very red and we think in a small percentage of the surface, the terrain is quite dark," he added.

Why Makemake lacks a global atmosphere remains a big mystery, but Ortiz does have a theory. Pluto is covered in nitrogen ice. When the sun heats this volatile material, it turns straight into a gas, creating Pluto's atmosphere.

Makemake lacks nitrogen ice on its surface, so there is nothing for the sun to heat into a gas to provide an atmosphere.

The dwarf planet has less mass, and a weaker gravitational field, than Pluto, said Ortiz. This means that over eons of time, Makemake may not have been able to hang on to its nitrogen.

Methane ice will also transform into a gas when heated. But since the dwarf planet is nearly at its furthest distance from the sun, Ortiz believes that Makemake's surface methane is still frozen. (Learn about orbital planes.)

And even if the methane were to transform into a gas, any resulting atmosphere would cover, at most, only ten percent of the planet, said Ortiz.

The new results are detailed today in the journal Nature.


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Fire Kills 112 Workers Making Clothes for US Brands













The 100-plus workers who died in a fire late Saturday at a high-rise garment factory in Bangladesh were working overtime making clothes for major American retailers, including Wal-Mart, according to workers' rights groups.


Officials in Bangladesh said the flames at the Tazreen Fashions factory outside Dhaka spread rapidly on the ground floor, trapping those on the higher floors of the nine-story building. There were no exterior fire escapes, according to officials, and many died after jumping from upper floors to escape the flames.


As firemen continued to remove bodies Sunday, officials said at least 112 people had died but that the number of fatalities could go higher.


The Tazreen fire is the latest in a series of deadly blazes at garment factories in Bangladesh, where more than 700 workers, many making clothes for U.S. consumers, have died in factory fires in the past five years. As previously reported by ABC News, Bangladesh has some of the cheapest labor in the world and some of the most deplorable working conditions.


READ the original ABC News report.








More Than 100 Dead in Bangladesh Garment Factory Fire Watch Video











Worker Deaths at Factory for Hilfiger Clothes Watch Video





"The industry and parent brands in the U.S. have been warned again and again about the extreme danger to workers in Bangladesh and they have not taken action," said Scott Nova, executive director of the Worker Rights Consortium, an American group working to improve conditions at factories abroad that make clothes for U.S. companies. Nova said the fire was the most deadly in the history of the Bangladesh apparel industry, and "one of the worst in any country."


WATCH the 'Nightline' report on deadly factories.


Workers' activists went into the burned-out remains today to document which major retailers were using the Tazreen factory.


They say they found labels for Faded Glory, a Wal-Mart private label, along with labels they said traced back to Sears and a clothing company owned by music impresario Sean "Diddy" Combs.


"There's no question that Wal-Mart and the other customers at this factory bear some blame for what happened in this factory," Nova said.


Nova also said that Wal-Mart "knew exactly what's going on at these facilities. They have staff on site in Bangladesh."


Wal-Mart actually warned of dangerous conditions at the Tazreen factory last year, in a letter posted online by the factory owner.


Wal-Mart told ABC News that the company has not yet been able to confirm that it was still making clothes at the factory.


In a statement, Wal-Mart told ABC News, "Our thoughts are with the families of the victims of this tragedy. ... [F]ire safety is a critically important area of Wal-Mart's factory audit program and we have been working across the apparel industry to improve fire safety education and training in Bangladesh.


"As part of this effort, we partnered with several independent organizations to develop and roll out fire safety training tools for factory management and workers. Continued engagement is critical to ensure that reliable, proactive measures are in place to reduce the chance of factory fires. "


Spokespeople for Combs and Sears did not immediately respond to requests for comment.



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