WEEKLY NEWS ROUND-UP

INTERNATIONAL

Basic Block Meeting
Brazil, South Africa, China and India – the emerging economies- decided on 30th January to inform the UNFCC (United Nations Framework Convention on Climate Change), the steps taken to reduce greenhouse gas emissions. A unanimous decision was also taken on contacting the G-77 countries. This was the second ministerial level meeting, this time held in New Delhi. It is gratifying to note the sincere and tireless efforts put in by these nations after the Copenhagen Accord of last month. Hope better sense would prevail among the developed countries like US and other European nations. In the Copenhagen meeting in spite of repeated appeals by the developed countries, US refused to toe the Kyoto Protocol of 1997 held in Tokyo, Japan. It is quite unfortunate and deplorable that worst emitter of Greenhouse gas emissions still compel the developing nations who are far behind the culprit, ie; USA in the matter of global warming to adopt legally-binding measures. Pity on USA’s double-speak.

The Visit of South Korean Head
The South Korean President, Lee Myung-bak visited India on 24/1/2010 to extend strategic and bilateral ties with India. Business and strategic ties signed and it is worthwhile to note here South Korea, a fast developing East Asian country is the third largest investor in India. At a moment when South-East Asian nations on a high growth trajectory, Lee Myung-bak’s visit assumes added significance. Both countries signed a number of treaties thus paving the way for a far wider and brighter relationship further.

Retention of Bernanke and Obama’s Capitol Hill Address

After hectic campaign by US President Barack Obama- he held a one to one meeting with the senators, Ben Bernanke - the Federal Reserve Chairman, who was feared to be on his way out after his first term got a second lease of life as Federal Reserve Chairman. He was widely condemned for the mass employment plaguing the nation. Now Bernanke can sit pretty for another four years.
In his State of the Union Address at Capitol Hill, an agitated and assertive Obama has announced his plans of slashing tax breaks to those firms which move jobs abroad. Simultaneously encouraging the firms which do business within the boundaries with tax breaks. His marathon speech lasted 69 minutes and is determined to make America No.1 and give no scope for another country to overtake. A true patriot. Let his dream remain not a pipe dream. All the best Obamaji.

Sri Lanka Elections – Mahinda at the Helm again

Mahinda Rajapaksa, Sri Lankan President who got locked in a Presidential contest against his one time Defence Head (Retired) Lieutnant General Sarath Foneska, has emerged victorious with a thumping margin of 17.73 percent. In the aftermath of his widely acclaimed fight against LTTE finally leading to their near decimation he had advanced the polls by two years. His gamble paid off.

The Plight of Haitians Continues
Haitians who were devastated by an earthquake are still undergoing enormous hardships. Hunger, lack of shelter, disease are rampant even now despite help rushed to the country by nations across the globe and NGOs. Imagine the plight of a hapless nation got reduced into a heap of rubble. Hope nations as well as NGOs would step-up efforts to mitigate the suffering of hapless millions.

Meeting on Afghanistan In London

Hamid Karzai, Afghan President who is incidentally in London to attend an international meeting on the developments in his country begun on 28/01/2010 has extended an olive branch to Taliban militants for cordial talks across the table. Taliban militants are yet to respond. The result of the London meeting is being watched by nations around the world.

40TH World Economic Forum Meeting at Davos
World Economic Forum attended by 30 Presidents and Prime Ministers and 2500 industrialists and businessmen around the world commenced on 27/01/2010. This is the 40th meeting. It assumes significance in the backdrop of global meltdown, massive unemployment in USA, heated debate on regulation of banks and other financial institutions amidst raging controversy still going on among the members on following market economy. The debate over the downsizing of banking institutions also gains momentum. Await.


NATIONAL

PMO has apologized to the nation for the inadvertent display of a photograph of Pakistan Air Force Chief along with the photographs of Indian dignitaries on National Girl Child Day.

M.K.Narayanan has assumed charge as West Bengal Governor. The former National Security Adviser, who was reportedly not in good terms with Home Minister P.Chidambaram is replaced by former Foreign Secretary Sivsankar Menon.

The Hindu’s Rural Affairs Editor, P.Sainath’s article-Farm Suicides -12 year saga is a must reading by all Indians. It reflects the perennial problems, helplessness, poverty and mounting debts of our farmers which lead them to the path of suicide. Mind numbing and outrageous- those in the corridors of power have no time to alleviate the problems of 60-70 percent farmers, who are the food providers of our country. Modern Neros- to put it mildly.

Padma awards declared as usual, deserving and not deserving included, that also as usual. The conferment of Padmabushan to controversial NewYork based hotelier Sang Singh Chatwal has stirred a hornest nest and the anger and protest likely to gain momentum with the moving of RTI applications by noted journalists Vir Sanghvi and Pritish Nandy.

Diamond Jubilee celebrations of our Election commission conducted. Speaking on the occasion President Pratibha Patil stressed the need for more independent conduct of elections and Congress President Sonia Gandhi dwelt upon excluding the corrupt and criminal elements from contesting polls. It is time for all parties to engage in a soul-searching exercise and try their maximum to make election process more transparent and popular.

India’s 60th Republic Day was celebrated with much fanfare around the country. On the eve of the Republic Day, President in her customary address to the nation reminded all about the terror threat from across the border and also mounting terror threats across our nation by inside elements, the need for infrastructure development and a second Green Revolution for the augmentation of food and essential communities. At a moment when mounting food inflation stares in our face like an ugly, frightening creature, President’s call has a special significance.

Defence Minister A.K.Antony’s determination to Court martial Military Secretary Lieutnant General Avadesh Prakash was ordered by Army Chief Deepak Kapoor. Lt. Gen Avadesh Prakash is reportedly involved in the now infamous Sukhna Land Scam. Antony’s integrity and his intolerance to corruption and nepotism have never been questioned. Here also his writ has prevailed.

REGIONAL

In spite of Karunakaran’s repeated demands to KPCC (Kerala Pradesh Congress Committee) and Congress High Command, his son K.Muraleedharan still finds himself in the political wilderness after a high level KPCC meeting convened by Pradesh Congress Committee President Ramesh Chennithala resolved by an overwhelming majority to delay Muraleedharan’s admission to congress. Muraleedharan with unlimited patience is willing to wait. Nice of him.

Munnar encroachments have once more come to the fore. Chief Minister V.S.Achuthanandan is determined to evict all the encroachers. Reportedly the greatest encroacher Tata Group which allegedly keep 17439 acres of land are the prime target. The other day a sub-committtee of ministers visited Munnar and subsequently LDF convened a meeting and decided to evict the encroachers.

FINANCE

RBI’s (Reserve Bank of India) monetary policy has been announced. This time the Central Bank has decided to hike the CRR by 75 basis points, thus raising the CRR to 5.75. It is estimated to absorb an excess liquidity of Rs36000/ crore from the banking system. Its prominent aim being reining in mounting inflation. The Repo and Reverse Repo rate remain the same for the time being. Credit interest rates are unlikely to escalate in the immediate future, a welcome relief to borrowers. Bank rate remains 6%. At present food inflation remains the main concern of the Central Bank.

TENNIS

Serena Williams of USA has lifted Aussie crown by defeating Justin Henin. Her 12th Grand Slam and moving ahead with confidence. She accepted the crown from none other than legendary Billie-Jean-King.

The legendary Swiss Roger Federer in a never say die battle against a determined and formidable Andy Murray of England has lifted his historic 16th Grand Slam title.

HISTORY

Howard Zinn, the Boston University Professor of History, well-known around the world for his widely acclaimed book- The Peoples’s History of America- is no more.


LITERATURE

J.D.Salinger, known for his epoch-making novel – The Catcher and the Rye – is dead. With this single novel he could amass millions of dollars and instant popularity among readers world-wide which embarrassed him withdrew into his privacy and led a cocooned existence.

Scottish writer, World famous detective novelist, Ian Rankin is in India. There was an elaborate interview by Prakash Karat, CPI(M) General Secretary with him- who is an avid favourite of Ian Rankin- with the Edinburg based writer. Sadly I am not at all a fan of detective writers and hence not in a position to talk or write about them. Bear with me Ian Rankin and Com.Karat.

CELESTIAL

Full moon of 2010 raised my spirits as also millions of others. A rare celestial spectacle.

Joke of the Year : BJP President Nitin Gadkari has compared Narendra Modi to Mahatma Gandhi, as per media reports.