Colombia quake damaged 100 houses, injured 15

BOGOTA: A strong earthquake that shook Colombia over the weekend destroyed 100 houses and damaged nearly 2,000 others, authorities said Sunday. Only 15 people were injured, none seriously, they said.

The National Risk Management Unit said all areas affected by Saturday's quake had been reached, and the toll was definitive.

"A total of 15 people injured, 100 houses destroyed, 1,896 houses damaged," the agency said via Twitter.

Twenty-four schools and a clinic also were among the structures damaged by the quake, which registered 7.0 on the moment magnitude scale and 6.9 on the Richter scale.

Its epicentre was near Pasto, Colombia, a city of 400,000 that lies in the shadow of the Galeras volcano in the southwestern province of Narino.

The quake was felt as far away as Bogota and Quito, Ecuador.

- AFP/jc

Read More..

6.5-magnitude quake strikes off Solomon Islands

HONIARA: A 6.5-magnitude earthquake hit off the Solomon Islands on Sunday, the latest powerful aftershock following a 8.0-magnitude quake that sparked a tsunami four days ago, US seismologists said.

The US Geological Survey said the quake struck at 8:02 am, 2102 GMT Saturday, 29 kilometres south-southwest of Lata, the main town on remote Ndende Island in the Santa Cruz Islands, which are part of the Solomons, at a depth of 18 kilometres.

It was the latest in a series of powerful aftershocks to hit the remote region since a deadly 8.0-magnitude earthquake Wednesday triggered a tsunami, killing at least 13 people, destroying villages and leaving thousands homeless.

The tremor was not expected to generate a widespread tsunami, the Pacific Tsunami Warning Centre said.

Geoscience Australia also measured it at 6.5 but centred at a greater depth of 36 kilometres.

A further 12 houses were reported destroyed following a 6.8 magnitude tremor Friday and another measuring 7.0, which sent villagers fleeing to higher ground in fear of another tsunami.

The Solomon Islands government has declared the outlying Santa Cruz Islands a disaster area as the aftershocks continue to hamper relief efforts.

Because of a fragile communications system, officials in the capital Honiara were struggling to get a clear picture of the extent of damage, but the Red Cross said food, water and shelter were a priority for quake-hit villages.

- AFP/jc

Read More..

Football: Second-half rally sees PSG go six points clear

PARIS: Paris Saint-Germain shook off a lacklustre first half to defeat Bastia 3-1 on Friday and go six points clear at the top of Ligue 1 in a morale-boosting win ahead of their Champions League duty next week.

PSG, who will tackle Valencia on Tuesday in the first leg of their last 16 tie in Europe, moved onto 51 points, taking their recent run to 12 matches without defeat in all competitions.

Jeremy Menez, Zlatan Ibrahimovic and Ezequiel Lavezzi were all on target for PSG although Wahbi Khazri's 83rd-minute free-kick from 30 metres, which made the score 2-1, meant goalkeeper Salvatore Sirigu's proud unbeaten record ended at the 947-minute mark.

"We earned and took three points which was our objective," said PSG coach Carlo Ancelotti.

"It's true that the first half wasn't very good, the second half was different. We can look forward to our next match with confidence."

Menez put PSG ahead in the 56th minute with Ibrahimovic, who had started on the bench for the first time in his Ligue 1 career, making it 2-0 with a 71st-minute penalty.

After Khazri's thunderbolt, Argentina international Lavezzi settled PSG's nerves with an 89th-minute goal to put the pressure back on second-place Lyon who welcome Lille on Sunday.

Ancelotti insisted that Ibrahimovic had no arguments over being demoted to the bench.

"It wasn't hard to convince Ibra, he understands that there are always risks of injuries and we need to avoid that," said the coach.

- AFP/de

Read More..

Tennis: Injured Li Na out of Qatar Open

DOHA: China's Li Na has pulled out of next week's $2.3 million Qatar Open after failing to recover from the ankle injury she suffered in her Australian Open final defeat to Victoria Azarenka.

"Li Na has withdrawn from QatarTennis due to her ankle injury from the Australian Open final. #WTA #tennis," the WTA said on its Twitter account.

The Qatar Open starts on Monday.

- AFP/de

Read More..

Euro slips ahead of ECB meeting

NEW YORK: The euro slipped against the US dollar on Wednesday ahead of the European Central Bank's policy meeting, expected to keep monetary policy on hold.

Meanwhile, the Japanese currency pulled higher after hitting three-year lows on Tuesday.

The euro fell to $1.3519 at 2200 GMT, from $1.3582 late Tuesday, nearly two cents below its 14-month high of $1.3710 hit on Friday.

The slip came a day before ECB policymakers were to meet, with most analysts saying they will not undertake any more easing of monetary conditions despite worries about slow growth and the strengthening euro.

On Tuesday French President Francois Hollande urged a more managed euro, saying it should not be allowed to "fluctuate depending on the markets' mood."

"A single currency zone must have a foreign exchange policy, otherwise it will see an exchange rate imposed on it (by the markets) which is out of line with its real competitive position," he told the European parliament.

Also weighing on the euro was concerns about political instability in Spain, where the government is under attack over corruption allegations, and Italy, where former prime minister Silvio Berlusconi, much distrusted by markets and Europe's technocrats, was gaining in election polls.

"There is enough uncertainty around Spanish and Italian politics to ensure that the next leg higher for the euro is delayed," said Kit Juckes of Societe Generale.

Hollande's plea came amid increased worries from around the world over a global currency war.

A key target of those worries, the Japanese yen, pulled higher on Wednesday a day after hitting three-year lows.

The yen sagged further on Tuesday following the announcement by Bank of Japan chief Masaaki Shirakawa that he would step down three weeks before his term ends, after butting heads with the new Japanese Prime Minister Shinzo Abe over monetary policy.

Abe wants the central bank to undertake more easing to reinflate the slumping economy.

But the yen edged higher Wednesday, with a dollar buying 93.57 yen, compared with 93.61 yen a day earlier.

The euro slipped to 126.46 yen from 127.13 yen.

The British pound was virtually unchanged at $1.5658; the dollar rose to 0.9101 Swiss francs from 0.9077 francs.

- AFP/de

Read More..

Dell unveils private equity buyout worth US$24.4b

NEW YORK: Dell unveiled plans to go private Tuesday in a $24.4 billion deal giving founder Michael Dell a chance to reshape the former number one PC maker away from the spotlight of Wall Street.

"I believe this transaction will open an exciting new chapter for Dell, our customers and team members," Michael Dell said in unveiling the deal with equity investment firm Silver Lake, and backed by a $2 billion loan from Microsoft.

The company said it had signed "a definitive" agreement to give shareholders $13.65 per share in cash -- a premium of 25 percent over Dell's closing share price on January 11, before reports of the deal circulated.

The move, which would delist the company from stock markets, could ease some pressure on Dell, which is cash-rich but has seen profits slump, as it tries to reduce dependence on the slumping market for personal computers.

The plan is subject to several conditions, including a vote of unaffiliated stockholders.

It calls for a "go shop" period to allow shareholders to seek a better offer.

The company founder said Dell has made progress in its turnaround strategy "but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision."

"I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake," he added.

Under terms of the deal, Michael Dell, who currently owns some 14 percent of Dell's common shares, would remain chairman and chief executive and boost his stake with "a substantial additional cash investment," a company statement said.

Additional cash for the deal will come from Silver Lake, a major tech investment group, and MSD Capital, a fund created to manage Michael Dell's investments.

The plan also calls for a $2 billion loan from Microsoft, rollover of existing debt, and financing committed by Bank of America-Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.

Analysts have said the deal may give the company a chance to regain some footing in a market in which smartphones and tablets are overtaking laptop and desktop computers.

"Michael has been trying to turn Dell into a supplier of enterprise solutions for a long time," said Roger Kay, analyst with Endpoint Technologies.

"He has pleaded with Wall Street to give him time."

Kay told AFP that going private would make a transition easier by avoiding the spotlight of "ugly results," which could come from scaling back the PC business.

"The commodity PC business has been suffering," Kay said.

"Dell may probably keep the higher margin consumer lines, but maybe look at rest of the portfolio."

Kay added that Microsoft's participation in the deal suggests that Dell would remain in PCs and the Windows-based ecosystem.

Deutsche Bank's Chris Whitmore in a research note this week that Dell "would be free to execute his turnaround without the scrutiny of the public market" with "flexibility to do what he sees fit in order to drive long-term value."

The analyst added that Dell "could get more aggressive" in its enterprise software and cloud services, to make the company less dependent on PCs.

The Texas-based computer maker, which Dell started in his college dormitory room, once topped a market capitalization of $100 billion as the world's biggest PC producer.

Dell is now the number three global PC maker, behind Hewlett-Packard and Lenovo, according to the latest report from market tracker IDC, showing Dell's market share of 10.6 percent in the fourth quarter.

Rival HP said in a statement that Dell "has a very tough road ahead" with "an extended period of uncertainty and transition that will not be good for its customers," adding that HP "plans to take full advantage of that opportunity."

Microsoft's participation further clouds the role of the Windows software maker, which has begun its own hardware efforts with the Surface tablet.

Microsoft said in a statement it "is committed to the long-term success of the entire PC ecosystem and invests heavily in a variety of ways to build that ecosystem for the future."

-AFP/ac

Read More..

Romney son Tagg rules out US Senate run

WASHINGTON: Defeated US Republican White House candidate Mitt Romney's son Tagg ruled out running for Senate on Monday after speculation that he might jump in to seek a newly open Massachusetts seat.

"I have been humbled by the outreach I received this weekend encouraging me to become a candidate for the US Senate," said Tagg Romney, in a statement issued after reports that he was preparing a run.

"I love my home state and admit it would be an honour to represent the citizens of our great Commonwealth. However, I am currently committed to my business and to spending as much time as I can with my wife and children."

"The timing is not right for me," he said, a comment that left open the possibility of a future run.

Tagg Romney is Mitt Romney's oldest son and runs a private equity firm.

He had not said he was running in the special June election to fill the seat vacated by newly-confirmed Secretary of State John Kerry, but The Boston Herald had earlier said it "has learned" he was considering a run.

The 42-year-old, a fixture on his father's failed 2012 campaign to oust President Barack Obama, would have been a plausible choice to mount a run this year in Massachusetts, where the elder Romney had been a popular governor.

Republicans are scrambling to find a viable challenger after former senator Scott Brown, who lost his high-profile re-election bid in November to consumer protection advocate Elizabeth Warren, announced he would not run.

William Weld, another popular Republican governor in Massachusetts, has also reportedly opted out of the race, leaving Democrats the strong favourites.

The Herald reported at the weekend that Republican heavyweights were pushing for either Tagg or his mother Ann Romney, who had a star turn on the Republican convention stage during her husband's campaign, to run for the seat.

But a family friend and advisor was quoted as saying that Ann Romney, who has never run for public office, was unlikely to take the plunge.

Democrats are rallying around Congressman Ed Markey, although he could face a primary challenge from fellow Congressman Stephen Lynch.

- AFP/jc

Read More..

Scotland Yard stole dead children's identities: report

LONDON: London's Metropolitan Police stole the identities of some 80 dead children and issued false documents in their names for use by undercover officers, Britain's Guardian newspaper reported on Sunday.

The force authorised the practice over three decades for officers attempting to infiltrate protest groups, without informing the children's parents, the broadsheet said.

Its investigation described officers creating aliases based on the dead children's details and being issued with documents such as passports and driving licences in their names.

Some officers reportedly spent up to a decade pretending to be these people.

Scotland Yard said it did not currently authorise the practice and had launched an investigation into "past arrangements".

"We appreciate the concerns that have been raised," the force said.

"We can confirm that the practice referred to in the complaint is not something that would currently be authorised."

Keith Vaz, chairman of the British parliament's home affairs committee, described the practice as "gruesome".

"It will only cause enormous distress to families who will discover what has happened concerning the identities of their dead children," he told the Guardian. "This is absolutely shocking."

One unnamed officer, who adopted the fake identity of Pete Black while operating undercover in anti-racist groups, told the newspaper he felt he was stomping on the grave" of the four-year-old boy whose identity he used.

Another argued that the practice could be justified on the grounds that it was for the "greater good".

Both officers worked for a Scotland Yard unit called the Special Demonstration Squad, which was disbanded in 2008.

The Guardian said it had seen a document indicating that around 80 officers used dead children's identities between 1968 and 1994.

- AFP/jc

Read More..

Tennis: Nadal shrugs off talk of return to number one

VINA DEL MAR, Chile: Rafael Nadal shrugged off talk of reclaiming the world number one spot on Saturday as the 11-time Grand Slam title winner prepared to return after a seven-month injury lay-off.

Nadal, now at five in the world after not having played since his shock second round defeat at Wimbledon in June, will be top seed at the Vina del Mar claycourt event next week.

But he is desperate to cool speculation over whether or not he will be able to return to the top of the rankings, a position currently occupied by Novak Djokovic.

"After seven months without playing, I am not even thinking of the world number one spot. I am just concentrating on doing my best," said the Spaniard.

Nadal was kept off the tour through a recurrence of his long-standing knee injury as well as illness.

Those setbacks meant he missed out on the Olympics, where he was the defending champion, the US Open, the 2012 Davis Cup final as well as last month's Australian Open.

"I am feeling good, but I need to have weeks of competition on the tour. I have to start slowly and with patience," said the seven-time French Open champion.

After playing in Chile, Nadal will head off to Brazil and Acapulco before testing his recovery to the full at the season's opening Masters events in Indian Wells and Miami.

"I don't worry now about running to be able to play the best I can. That can help me progress as far as possible," he said.

But the 26-year-old, whose ranking is at an eight-year low, warned: "I just want to be able to play at an acceptable level after such a long time."

Nadal, playing on a wild card, is top seed at the $410,000 tournament and will play doubles with Argentina's Juan Monaco on Tuesday.

In singles, he has a bye in the first round and will open his campaign at 2100GMT on Wednesday against either Argentina's Guido Pella, the world 97, or a qualifier.

- AFP/de

Read More..

Apple is tops in US in mobile phones: surveys

SAN FRANCISCO: Apple dethroned Samsung as the top US mobile phone vendor in the final quarter of last year, claiming a record share of 34 per cent, research firm Strategy Analytics reported Friday.

Apple shipped an estimated 17.7 million iPhones as "robust demand" for Internet connections on the move caused overall shipments of mobile phones to grow to 52 million in the United States, up four per cent from the same three-month period in 2011.

"Apple has become the number one mobile phone vendor by volume in the United States for the first time ever," Strategy Analytics said.

"Apple's success has been driven by its popular ecosystem of iPhones and App Store, generous carrier subsidies, and extensive marketing around the new iPhone 5 model."

South Korea-based Samsung shipped 16.8 million mobile phones in the US in the quarter, seeing its share of the market increase five per cent to 32 per cent but "not enough to hold off a surging Apple," according to Strategy Analytics.

Samsung had been the number one mobile phone vendor in the US since 2008 and will "surely be keen to recapture that title," the research firm said.

A separate survey highlighted Apple's top share of the smartphone market in the United States.

Industry tracker NPD Group said Apple held 39 per cent of the US smartphone market, even though its lead narrowed over Samsung, which boosted its market share to 30 per cent. A year earlier, Apple had 41 per cent to 21 per cent for Samsung, NPD figures showed.

"Even taking into account the tremendous sales growth of the Galaxy III and other Samsung smartphones, the iPhone is still king of the US-market hill," said NPD analyst Stephen Baker.

"In addition to strong US sales of iPhone 5, Apple has been bolstered by strong and continued demand for older, less-expensive iPhone models."

NPD said the iPhone 5 was the most popular smartphone in the US market in the past quarter, followed by the Samsung Galaxy S III.

The older versions of Apple's smartphone, the iPhone 4S and iPhone 4, were in third and fourth places, respectively, followed by Samsung's Galaxy S II, NPD said.

- AFP/jc

Read More..

Wall Street Journal says hit by Chinese hackers too

WASHINGTON: The Wall Street Journal said Thursday its computers were hit by Chinese hackers, the latest US media organisation citing an effort to spy on its journalists covering China.

The Journal made the announcement a day after The New York Times said hackers, possibly connected to China's military, had infiltrated its computers in response to its expose of the vast wealth amassed by a top leader's family.

The Journal said in a news article that the attacks were "for the apparent purpose of monitoring the newspaper's China coverage" and suggests that Chinese spying on US media "has become a widespread phenomenon."

"Evidence shows that infiltration efforts target the monitoring of the Journal's coverage of China, and are not an attempt to gain commercial advantage or to misappropriate customer information," said a statement from Paula Keve of Journal parent Dow Jones, a unit of Rupert Murdoch's News Corp.

The Journal gave no timeline for the attacks but said a network overhaul to bolster security had been completed on Thursday.

"We fully intend to continue the aggressive and independent journalism for which we are known," Keve said.

On Wednesday, The New York Times reported that hackers have over the past four months infiltrated computer systems and stole staff passwords.

The effort has been particularly focused on the emails of Shanghai bureau chief David Barboza, the newspaper said.

According to a Barboza story published on October 25, close relatives of Chinese Premier Wen Jiabao have made billions of dollars in business dealings.

"Chinese hackers, using methods that some consultants have associated with the Chinese military in the past, breached The Times' network," the newspaper said, citing a wealth of digital evidence gathered by its security experts.

The newspaper said the IT consultants believed the attacks "started from the same university computers used by the Chinese military to attack United States military contractors in the past."

The hackers stole corporate passwords and targeted the computers of 53 employees including former Beijing bureau chief Jim Yardley, who is now the Times' South Asia bureau chief based in India.

The Times said Bloomberg News was also targeted by Chinese hackers, after publishing in June a report on the wealth accumulated by relatives of Xi Jinping. In November, Xi was elevated to leader of the Chinese Communist Party.

In a related development, CNN said its international service went down for several minutes in response to its reporting on the hacking at the New York Times.

"CNNI went dark for 6 minutes," said a tweet from CNN International anchor Hala Gorani. "#China blacks out CNN for @HalaGorani interview on hacking of @nytimes."

In Beijing, China dismissed any notion that it was involved in any hacking.

"The competent Chinese authorities have already issued a clear response to the groundless accusations made by the New York Times," Foreign Ministry spokesman Hong Lei told reporters in Beijing.

"China is also a victim of hacking attacks," he said. "Chinese laws clearly forbid hacking attacks, and we hope relevant parties take a responsible attitude on this issue."

The US online security firm Symantec, cited by the New York Times for having failed to prevent the infiltration, issued its own statement deflecting any blame.

"Advanced attacks like the ones the New York Times described... underscore how important it is for companies, countries and consumers to make sure they are using the full capability of security solutions," the company said.

"Turning on only the signature-based anti-virus components of endpoint solutions alone are not enough in a world that is changing daily from attacks and threats."

- AFP/jc

Read More..

Brazil night club owner attempts suicide

SANTA MARIA: An owner of the Brazilian night club where 235 people perished in a weekend fire tried to commit suicide, police said Wednesday, as the number of survivors seeking medical treatment after the disaster continued to rise.

Elissandro Sphor tried to kill himself with a plastic shower hose, said senior police official Lilian Carus in the town of Cruz Alta 125 kilometres from Santa Maria, where the club owner is hospitalised.

"It was clear he wanted to hang himself," Carus told AFP, adding that a police officer arrived at the scene -- a hospital where Sphor is being treated for gas poisoning -- before anything happened.

Police took Sphor and three others into custody as they pieced together what caused the inferno at the Kiss nightclub, which was packed with partying students when the blaze broke out early Sunday.

About 75 injured victims of the fire are clinging to life, some in critical condition, in the college town of Santa Maria.

Meanwhile, health officials there said about 20 people have been hospitalised since the fire with symptoms of "chemical pneumonitis" after breathing in smoke and toxic gases emitted during the inferno.

The symptoms may take five days to appear and can be severe, health official Neio Pereira said.

Most of the victims died of smoke inhalation as they desperately tried to escape.

Those treated for the respiratory ailments Wednesday were in addition to 123 people hospitalised after the fire, which authorities say was sparked by a cheap flare lit by musicians as part of an illegal pyrotechnics display.

Authorities catalogued a long list of other infractions at club, including a lack of emergency lighting, non-functioning fire extinguishers and suspected overcrowding.

It also was operating with an expired licence and had only one functioning exit, which survivors said was unmarked and blocked by steel barriers, making it difficult to flee the establishment.

Sphor's doctor told the Folha de Sao Paulo newspaper that since the tragedy, his client -- who is one of two owners of the night club -- cries incessantly, has had to be put on a prescription of tranquilisers, and is emotionally "destroyed."

Meanwhile, dozens of people late Tuesday took to the streets of Santa Maria demanding justice and stricter laws.

"We will work tirelessly until all those responsible are identified," police commissioner Marcelo Arigony promised the demonstrators -- even as many blamed the government itself for failing to carry out the inspections that might have saved lives.

Some survivors said that security guards initially blocked the exit to prevent customers from leaving the club without paying their bar tabs.

Fire chief Sergio Roberto de Abreu said his department had been in the process of reviewing the club's fire extinguisher documentation, but that approval had not yet been given at the time of the fire.

Lawyers for the club, however, have insisted that the establishment was in full compliance.

- AFP/jc

Read More..

US Senate confirms Kerry as next secretary of state

WASHINGTON: The US Senate on Tuesday confirmed Senator John Kerry as the next secretary of state, approving President Barack Obama's pick to replace Hillary Clinton by a wide majority.

The Senate voted 94-3 in favour of Kerry, after the chamber's Foreign Relations Committee approved the nomination earlier in the day.

His nomination was pushed through the Senate in a matter of days, given the clear bipartisan support for the 69-year-old veteran Democratic lawmaker, who spent 28 years in the Senate.

Kerry -- a senator from Massachusetts best known outside the United States for his unsuccessful 2004 presidential campaign -- was nominated last month by Obama to take over from Clinton as the nation's top diplomat.

He is known to have long coveted the job, but almost lost out to US ambassador to the United Nations Susan Rice, who had been seen as Obama's first choice.

But she withdrew from consideration for the post under Republican fire over the administration's response to the September 11 attack on a US mission in Libya that left four Americans dead.

Earlier, Kerry said he was "humbled" and gratified by the support from the members of the Senate Foreign Relations Committee, which he himself chairs.

"They've been wonderful, they've been really superb," he said of his committee colleagues, adding, "I'm very wistful about it, it's not easy" leaving.

Clinton, 65, is expected to leave her post Friday, amid swirling speculation about whether she will run for the presidency in 2016. For now, she has said only that she is looking forward to some rest after four gruelling years.

At his confirmation hearing last week, Kerry called for "fresh thinking" as he outlined his foreign policy agenda and plans for relations with Iran, China and the Middle East.

"American foreign policy is not defined by drones and deployments alone," he told the Senate Foreign Relations Committee.

"We cannot allow the extraordinary good that we do to save and change lives to be eclipsed entirely by the role that we have had to play since September 11th, a role that was thrust upon us," he said.

The decorated Vietnam veteran turned anti-war activist has built impeccable credentials during his time in the Senate. He has sat down with Syrian President Bashar al-Assad, soothed nerves in Pakistan and visited the Gaza Strip.

- AFP/jc

Read More..

Cycling: UCI disbands independent Armstrong commission

LONDON: The International Cycling Union (UCI) announced Monday it had disbanded the independent commission it had set up to investigate any alleged involvement by the global governing body in the Lance Armstrong doping scandal.

The UCI said it had pulled the plug on the commission, which only met in public for the first time last week, because both the World Anti-Doping Agency (WADA) and the United States Doping Agency (USADA) had refused to co-operate with its inquiries and thus any report it produced would be dismissed "as not being complete or credible".

UCI president Pat McQuaid said they had been left with little choice but to disband the three-member commission consisting of chairman Philip Otton, a former judge in England's Court of Appeal, British Paralympic champion Tanni Grey-Thompson and Australian lawyer Malcolm Holmes.

"As I said last Friday, we have listened carefully to the views of WADA, USADA, and cycling stakeholders and have decided that a truth and reconciliation process is the best way to examine the culture of doping in cycling in the past and to clear the air so that cycling can move forward," McQuaid explained in a statement.

"Over the weekend I spoke to John Fahey, president of WADA. He confirmed WADA's willingness to help the UCI establish a truth and reconciliation commission (TRC), as well as saying that WADA had no confidence in the existing independent commission process."

It was an investigation by USADA that led to Armstrong being stripped of his seven Tour de France titles and comments in their decision regarding the UCI's alleged complicity in his drug-taking that led cycling chiefs to set up the independent commission.

- AFP/jc

Read More..

Fired workers protest at South Korean embassy in Iran

TEHRAN: Around 1,000 workers laid off by Iran's Entekhab group demonstrated outside the South Korean embassy in Tehran on Sunday after an acquisition deal for Daewoo Electronics fell through because of sanctions.

Entekhab had to let them go when it shut down a manufacturing line, the company said.

Three months ago, employees demonstrated at the embassy in the hope that Seoul would intervene to refund a downpayment of $70 million (53 million euros) Entekhab paid in 2011 to Daewoo.

In November 2010, the privately run Entekhab Industrial Group signed a contract sealing its acquisition of Daewoo for $518 million (397 million euros), the manufacturer maintains.

"Today, around 1,200 laid off workers from our company gathered again in front of the South Korean embassy after we did not get the money back," Entekhab's media spokesman Eshsan Fadaee said.

Daewoo Electronics, a former subsidiary of the now-defunct Daewoo Group, has been under a debt rescheduling programme since 1999 when its parent company collapsed.

Entekhab's deal to acquire Daewoo Electronics came unstuck in September 2010 when Seoul, reportedly under pressure from Washington, slapped sanctions on the Islamic republic over its controversial nuclear programme.

Entekhab, located in the central province of Isfahan, produces domestic appliances including refrigerators, washing machines and televisions under the brand names Snowa and Haier.

Under the punitive measures, South Korea has suspended the operations of Iran's Bank Mellat.

The United Nations, European Union, United States, and several other countries have imposed sanctions on Iran for its refusal to halt uranium enrichment, which world powers suspect masks an atomic weapons drive despite Tehran's denials.

- AFP/de

Read More..

Sailing: Olympic sailing champion visits Singapore

SINGAPORE: Xu Lijia, the 25 year old who became the first Chinese to win a gold medal in the dinghy class after finishing first in the laser radial class at the 2012 London Olympics, is in town.

The Chinese athlete shared her experiences with local sailors at a talk, which attracted 500 participants. The talk also saw the launch of the Character Development Through Sailing programme.

The Shanghai native, who won bronze in the same class at the 2008 Olympics in Beijing, said that it was not just about winning, but also enjoying the journey.

She had to beat many odds including injuries, physical limitations and the lack of a proper support structure for the sport in China.

"It is about promotion, promoting this sport not only in Singapore, China but... in whole of Asia. I hope that Asia can become stronger and stronger and (compete) with the European countries," she said.

- CNA/jc

Read More..

Apple loses world's most valuable company crown

NEW YORK: Apple shares extended their losses Friday, ending a miserable week for the California tech giant as it surrendered its position as the world's biggest company based on market value.

Apple ended down 2.36 per cent at US$439.88, giving it a market capitalisation of $413 billion -- while oil giant ExxonMobil rose 0.36 per cent to US$91.68 with a market cap of US$418 billion, to edge into first place.

The shares of both firms zig-zagged during the session, with Apple at various points regaining the top spot before falling back.

Apple first overtook ExxonMobil in August 2011 as the most valuable company in the world based on the value of its stock.

A year later, Apple dethroned longtime rival Microsoft as the most valuable company in history based on the value of its stock at US$622 billion.

But the company took a bruising this week after Wednesday's gloomy forecast accompanying its record quarterly profit announcement prompted pessimism over the tech giant's slowing growth trajectory.

Apple's profit was US$13.1 billion on revenue of US$54.5 billion in the fiscal quarter that ended on December 29, with sales of iPhones and iPads setting quarterly highs.

But despite those figures, investors soured on Apple after it forecast that revenue for the current quarter would range from US$41-43 billion and that it would have a gross margin of 37.5 to 39.5 per cent, lower than expectations.

Analysts remained cautious about Apple, which had seen a meteoric rise last September to over US$700 a share but it has slid 37 per cent since then. The company shed some US$60 billion on Thursday and around US$10 billion more Friday.

Some express concern that Apple has lost its edge in innovation since the death of Steve Jobs, and is losing ground to rivals such as Samsung, which leads the mobile phone market, and to others using Google's Android operating system.

Jinho Cho at Mirae Asset Securities said Apple will likely increase carrier subsidies in 2013 and launch "an entry-level iPhone" to compete better in emerging markets.

"These moves by Apple should lead to stiffer competition for greater carrier subsidies among smartphone makers, thus driving down handset industry-wide operating margins," the analyst said.

Colin Gillis at BGC Financial said Apple is facing new challenges.

"While we are incrementally more positive on the stock, we also mention that competition is increasing for the company," he said in a research note.

"We see competitors are using price as a lever to get traction in the market. Apple may also run into difficulty posting both the volumes and maintaining its prices over the next several quarters."

- AFP/jc

Read More..

Cooling-off Day for Punggol East by-election

SINGPORE: Friday is Cooling-off Day for the Punggol East by-election, which has seen nine days of vigorous campaigning by the four candidates contending in the polls.

The Elections Department has reminded political parties and candidates that Friday has been set aside for voters to reflect rationally on various issues raised during the campaigning before they go to the polls on Saturday.

The four candidates Channel NewsAsia spoke to say they intend to spend their time with their family, friends, and supporters after a gruelling election campaign that took form in walkabouts, morning visits to train stations to catch office-goers, as well as public and online rallies.

Campaigning is not allowed on Cooling-off Day. Election advertising cannot be published or displayed on Cooling-off Day as well.

Exceptions include reports in newspapers as well as on radio and television which relate to election matters.

Also allowed are approved posters and banners lawfully displayed before the start of Cooling-off Day. Other election advertising, such as internet election advertising lawfully displayed or published before the start of Cooling-off Day, is also allowed. Candidates can also continue to wear a replica of the symbol allotted to them.

Candidates and supporters have been advised to refrain from attending public events on Cooling-off Day and Polling Day. However they can attend religious ceremonies or worship services, or functions in the course of work or employment, but must be mindful of the rule prohibiting campaigning and election advertising.

On Saturday, some 31,600 voters from Punggol East SMC will go to the polls to elect their Parliamentary representative.

The by-election is being contested by four political parties.

Dr Koh Poh Koon from the People's Action Party, Mr Kenneth Jeyaretnam from the Reform Party, Mr Desmond Lim Bak Chuan from the Singapore Democratic Alliance and Ms Lee Li Lian from the Workers' Party.

This is Singapore's second by-election in eight months after the May 2012 Hougang by-election.

The Cooling-off Day provision in the Parliamentary Elections Act is now in force for the fourth time, after the 2011 General and Presidential Elections and the 2012 Hougang by-election.

- CNA/jc

Read More..

Football: Giroud fires five-star Arsenal in Hammers rout

LONDON: Olivier Giroud helped Arsenal silence their critics as the France striker's double inspired a much-needed 5-1 victory over West Ham on Wednesday.

Arsene Wenger's side had been subjected to scathing criticism from fans and pundits after successive defeats against Manchester City and Chelsea seriously damaged their bid to finish in the Premier League's top four.

Wenger was reported to have held crisis talks with his players this week and the Gunners looked set to hit a new low when Jack Collison gave West Ham a shock first-half lead at the Emirates Stadium.

But Arsenal bounced back in emphatic fashion, equalising through Lukas Podolski and then taking the points after Giroud sparked an astonishing spree of four goals in 10 second-half minutes, with Santi Cazorla and Theo Walcott on the scoresheet before Giroud completed the rout.

Arsenal remain in sixth place but their first league win in four matches moves them within four points of fourth-placed Tottenham in the race to qualify for the Champions League.

It was a remarkable turnaround after Wenger's team were initially caught cold in the freezing conditions.

The trademark of every Sam Allardyce side is an ability to cause chaos from set-pieces and West Ham are no different. When Carlton Cole's header was only half-cleared, Matt Taylor pounced to fire in a volley that deflected just over.

Arsenal had been warned but, given their defensive frailties this season, it was no surprise they didn't learn the lesson as West Ham took the lead in the 18th minute.

Giroud, attempting to head clear a corner, could only reach the edge of the penalty area, where Collison, left completely unmarked, had time and space to control and lash a fierce strike past Wojciech Szczesny.

Often accused of lacking the character to deal with that kind of momentum-changing moment, Wenger's players for once showed impressive spirit and hit straight back to equalise within four minutes.

Cazorla and Jack Wilshere were the architects, working the ball across midfield to Germany forward Podolski, who advanced unchecked before drilling a long-range strike past Jussi Jaaskelainen for his 11th goal of the season.

Arsenal's back four continued to give West Ham hope with their nervous play and Cole took advantage to flick his shot over Szczesny, only for Aaron Ramsey to clear off the line.

That was a crucial moment as Wenger's men turned the tables on West Ham with a set-piece goal two minutes into the second half when Giroud, stretching to reach Walcott's corner, poked his shot past Jaaskelainen at the near post.

There was no stopping the Gunners as they swept forward with the imagination and determination which has been missing far too often this season.

First, in the 53rd minute, Podolski played a one-two with Giroud that took him into the penalty area in space to clip a cross to Spanish midfielder Cazorla, who showed tremendous skill to back-flick the ball into the net from close range with the inside of his foot.

Then one minute later Podolski raced into the space behind out-of-position Hammers right-back Guy Demel and whipped over a low cross that England winger Walcott met with a clinical finish at the far post.

Arsenal weren't done yet and, in the 57th minute, Podolski, again exploiting Demel's wayward positioning, had space to pick out Giroud, who timed his run perfectly to meet the German's cross with a first-time strike past Jaaskelainen.

To make matters worse for West Ham, they finished with 10 men after young defender Daniel Potts was stretchered off when Allardyce had already used all of his substitutes.

- AFP/jc

Read More..

Justin Bieber overtakes Lady Gaga in Twitter follower race

 

By mid-day, the Biebs had 33,342,299 followers, against 33,333,682 for the Mother Monster, followed by Katy Perry, Rihanna and, a day after his public second-term inauguration, President Barack Obama with 26,183,711 followers.

Last week Twitter Counter had forecasted that, according to its algorithms, Bieber would clinch first place last Sunday.

Bieber and Lady Gaga -- who had led the Twitter pack since 2010 when she outpaced Britney Spears for the top spot -- are currently on tour in the United States.

"So proud of @justinbieber and all the Beliebers!" Lady Gaga graciously tweeted her Canadian-born rival last week. "I'm only happy to see your fans growing in size, you all deserve it! Monsters support you!"

- AFP/jc

Read More..