Japan to buy Europe bonds to soothe debt crisis

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TOKYO: Japan's new finance minister said that Tokyo would buy bonds issued by Europe's permanent bailout fund to help soothe the eurozone's debt problems and stabilise the yen.

Taro Aso told reporters the new government would tap foreign exchange reserves to pay for the bonds, but declined to say how much it planned to buy.

A finance ministry told AFP the bond buying could start as early as Tuesday, when the European Stability Mechanism (ESM) begins selling the paper, adding that Japan "will make a purchasing decision after seeing the terms of the issuance".

Japan, which counts Europe as a major export market, previously purchased billions of dollars in bonds issued by the ESM's predecessor, the European Financial Stability Facility.

"Stabilising Europe's financial crisis will eventually contribute to the stability of currency (prices) including the yen, and so we plan to keep purchasing ESM bonds using foreign reserves," Aso said Tuesday.

Europe's debt crisis has seen four countries ask for bailout cash to help pay their bills, while there were fears that others including Italy and Spain would follow suit as their borrowing costs surged.

However, those concerns have eased since September, when the European Central Bank promised to buy the bonds of struggling nations to keep rates down.

Also Tuesday, Japanese media reported that Tokyo was considering an extra budget worth about $150 billion to boost the limp economy, with about 40 percent of that figure directed toward public works projects.

The yen hit record highs around 75 against the dollar in late 2011, sparking panic among Japanese exporters whose goods are made more expensive by a strong currency.

However, the unit has since weakened and has seen a steep decline in recent weeks as the new government of Shinzo Abe, which took office last month after a landslide election win, vows to press the Bank of Japan for more aggressive monetary easing.

Reports Tuesday quoted Japanese executives expressing concern about the yen's recent tumble, saying the quick decline could pose a danger to the Japanese economy.

The business community, which had pressed officials for months to tame the surging yen, say a further plunge in the currency could shake investor confidence.

A weaker currency also makes fuel imports, which have risen steeply in the wake of Japan shutting down its nuclear plants, more expensive.

In Tokyo forex trading on Tuesday afternoon, the euro was up at 115.00 yen from 114.75 yen before Aso's comments, while the dollar bought 87.66 yen from 87.48 yen in morning deals.

Europe's permanent bailout fund was initially supposed to come online in July but only became operational in October after it was delayed by a challenge at the German Constitutional Court.

- AFP/de



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ED attaches Rs 143 crore assets in Jagan money laundering case

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HYDERABAD/NEW DELHI: The Enforcement Directorate has attached assets worth Rs 143.74 crore in connection with its probe in the money laundering case against YSR Congress party chief Jagan Mohan Reddy.

The attachment order, under criminal provisions of the Prevention of Money Laundering Act (PMLA), is the third by the agency after it issued two separate attachment orders of Rs 51 crore and Rs 71 crore earlier, in this case.

The agency, according to sources, has few more similar orders in the pipeline as it plans to build a water tight case against Jagan and his associates.

"Immovable properties and movable assets worth Rs 143.74 crore under section 5(1) of PMLA are being attached. The properties attached are from Ms Ramky Pharma City (India) Limited are approximately 135.46 acres of land and deposit of Rs 3.20 crore in mutual funds and fixed deposits for Rs 10 Crore from Jagati Publications Private Limited (held by Jagan Reddy)," the attachment order said.

The agency is probing the case on the basis of the FIR filed by CBI to investigate alleged disproportionate assets amassed by Jagan especially during the tenure of his father-- the late Andhra Pradesh chief minister YS Rajasekhara Reddy

An ED attachment is an enforcement action under anti-money laundering laws to restrict the accused from taking benefit out of the properties or assets they have created through illegal means.

The accused parties can appeal against the order at the Adjudicating Authority of the PMLA based here.

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Primitive and Peculiar Mammal May Be Hiding Out in Australia

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It’d be hard to think of a mammal that’s weirder than the long-beaked, egg-laying echidna. Or harder to find.


Scientists long thought the animal, which has a spine-covered body, a four-headed penis, and a single hole for reproducing, laying eggs, and excreting waste, lived only in New Guinea. The population of about 10,000 is critically endangered. Now there is tantalizing evidence that the echidna, thought to have gone extinct in Australia some 10,000 years ago, lived and reproduced there as recently as the early 1900s and may still be alive on Aussie soil.


The new echidna information comes from zoologist Kristofer Helgen, a National Geographic emerging explorer and curator of mammals at the Smithsonian Institution. Helgen has published a key finding in ZooKeys confirming that a skin and skull collected in 1901 by naturalist John T. Tunney in Australia is in fact the western long-beaked echidna, Zaglossus bruijnii. The specimen, found in the West Kimberley region of Western Australia, was misidentified for many years.


(More about echidnas: Get to know this living link between mammals and reptiles.)


Helgen has long been fascinated by echidnas. He has seen only three in the wild. “Long-beaked echidnas are hard to get your hands on, period,” he said. “They are shy and secretive by nature. You’re lucky if you can find one. And if you do, it will be by chance.” Indeed, chance played a role in his identification of the Australian specimen. In 2009, he visited the Natural History Museum of London, where he wanted to see all of the echidnas he could. He took a good look in the bottom drawer of the echidna cabinet, where the specimens with less identifying information are often stored. From among about a dozen specimens squeezed into the drawer, he grabbed the one at the very bottom.


(Related from National Geographic magazine: “Discovery in the Foja Mountains.”)


“As I pulled it out, I saw a tag that I had seen before,” Helgen said. “I was immediately excited about this label. As a zoologist working in museums you get used to certain tags: It’s a collector’s calling card. I instantly recognized John Tunney’s tag and his handwriting.”


John Tunney was a well-known naturalist in the early 20th century who went on collecting expeditions for museums. During an Australian expedition in 1901 for Lord L. Walter Rothschild’s private museum collection, he found the long-beaked echidna specimen. Though he reported the locality on his tag as “Mt Anderson (W Kimberley)” and marked it as “Rare,” Tunney left the species identification field blank. When he returned home, the specimen was sent to the museum in Perth for identification. It came back to Rothschild’s museum identified as a short-beaked echidna.


With the specimen’s long snout, large size, and three-clawed feet, Helgen knew that it must be a long-beaked echidna. The short-beaked echidna, still alive and thriving in Australia today, has five claws, a smaller beak, and is half the size of the long-beaked echidna, which can weigh up to 36 pounds (16 kilograms).



As Helgen began tracing the history and journey of the specimen over the last century, he crossed the path of another fascinating mind who had also encountered the specimen. Oldfield Thomas was arguably the most brilliant mammalogical taxonomist ever. He named approximately one out of every six mammals known today.


Thomas was working at the Natural History Museum in London when the Tunney echidna specimen arrived, still misidentified as a short-beaked echidna. Thomas realized the specimen was actually a long-beaked echidna and removed the skull and some of the leg bones from the skin to prove that it was an Australian record of a long-beaked echidna, something just as unexpected then as it is now.


No one knows why Thomas did not publish that information. And the echidna went back into the drawer until Helgen came along 80 years later.


As Helgen became convinced that Tunney’s long-beaked echidna specimen indeed came from Australia, he confided in fellow scientist Mark Eldridge of the Australian Museum about the possibility. Eldridge replied, “You’re not the first person who’s told me that there might be long-beaked echidnas in the Kimberley.” (That’s the Kimberley region of northern Australia.) Scientist James Kohen, a co-author on Helgen’s ZooKeys paper, had been conducting fieldwork in the area in 2001 and spoke to an Aboriginal woman who told him how “her grandmothers used to hunt” large echidnas.


This is “the first evidence of the survival into modern times of any long-beaked echidna in Australia,” said Tim Flannery, professor at Macquarie University in Sydney. “This is a truly significant finding that should spark a re-evaluation of echidna identifications from across northern Australia.”


Helgen has “a small optimism” about finding a long-beaked echidna in the wild in Australia and hopes to undertake an expedition and to interview Aboriginal communities, with their intimate knowledge of the Australian bush.


Though the chances may be small, Helgen says, finding one in the wild “would be the beautiful end to the story.”


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Meet Obama's Defense Secretary Nominee

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President Obama nominated former Senator Chuck Hagel as the next U.S. secretary of defense. To those who haven't followed the Senate closely in the past decade, he's probably not a household name.


Hagel is a former GOP senator from Nebraska and Purple-Heart-decorated Vietnam veteran, but he wouldn't necessarily be a popular pick with Republicans in Congress.


At age 21, Hagel and his brother Tom became the next in the family to serve in the United States Army. They joined the masses of Americans fighting an unfamiliar enemy in Vietnam.


In his book, he describes finding himself "pinned down by Viet Cong rifle fire, badly burned, with my wounded brother in my arms."


"Mr. President, I'm grateful for this opportunity to serve our country again," Hagel said after Obama announced his nomination Monday.


In 1971, Hagel took his first job in politics as chief of staff to Congressman John Y. McCollister, a position he held for six years. After that, he moved to Washington for the first time, where he went on to work for a tire company's government affairs office, the 1982 World's Fair and in 1981, as Ronald Reagan's Deputy Administrator of the Veterans Administration.








Obama Taps Sen. Chuck Hagel for Defense Secretary Watch Video









Sen. Chuck Hagel's Defense Nomination Draws Criticism Watch Video









Obama's Defense Nominee Chuck Hagel Stirs Washington Lawmakers Watch Video





He worked in the private sector for most of the 80s and 90s before his first election to the Senate in 1997.
Since the turn of the century, Hagel has followed a curvy path of political alliances that puts his endorsements all over the map. Hagel's record of picking politically unpopular positions could be a large part of why Obama is naming him for the job, as Slate's Fred Kaplan surmises the next Defense secretary will be faced with tough choices.


In 2000, he was one of few Republican senators to back Sen. John McCain over then-presidential-candidate George W. Bush.


After that election, Hagel fiercely criticized Bush for adding 30,000 surge troops to Iraq, in place of the bipartisan Iraq Study Group's proposal of a draw-down and regional diplomacy, which Hagel preferred. When Bush instead announced that more troops would go to Iraq, Hagel co-sponsored a nonbinding resolution to oppose it, along with then-Sen. Joe Biden, D-Del.


"The president says, 'I don't care.' He's not accountable anymore," Hagel told Esquire in June 2007. "He's not accountable anymore, which isn't totally true. You can impeach him, and before this is over, you might see calls for his impeachment. I don't know. It depends how this goes."


Hagel's fierce opposition to America's involvement in Iraq – he called it one of the five monumental blunders of history, on par with the Trojan War – will be of substantial importance as the Obama administration charts our course out of Afghanistan, deciding how to withdraw the last of the troops in 2014 and how much of a presence to leave behind.


Hagel's support for McCain, which was substantial in his competition against Bush, disappeared in the 2008 election. Hagel toured Iraq and Afghanistan with Obama during his first campaign for the presidency.


In October 2008, Hagel's wife, Lillibet, announced her support for the Obama team, after the Washington Post reported on her donations to his campaign. She donated again in 2012.


Before the 2008 election, Hagel wrote: "The next president of the United States will face one of the most difficult national security decisions of modern times: what to do about an Iran that may be at the threshold of acquiring nuclear weapons."






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Historic inauguration on MLK holiday means federal workers lose a quadrennial holiday

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Inauguration Day normally entails an extra paid holiday for federal workers in the Washington area, but no such luck applies this year. That’s because the public swearing-in ceremony coincides with another federal holiday — the Jan. 21 observance of the birthday of Martin Luther King Jr.


That means the historic event — the first African American president taking the oath of office on a holiday commemorating one of the nation’s most notable civil rights leaders — will cost the region’s government employees a quadrennial holiday, at least in terms of pay and leave.


The official Inauguration Day takes place every four years on Jan. 20, except when the date falls on a Sunday, as it does this year. When that happens, the federal holiday moves to the following Monday.

Since the observance of King’s birthday falls on the same day, government workers in the D.C. area will lose the extra paid time off they usually receive for the swearing-in ceremony.

Full-time federal employees are entitled to “in lieu of” holidays, meaning they can normally bump the dates forward or back when official holidays fall on non-workdays. But that won’t apply this year because the law doesn’t offer such a provision for the inauguration holiday.

The reason: It’s not necessary.

The government provides a holiday for the swearing-in to relieve some of the logistical problems — such as traffic congestion and security — associated with the event, which draws massive crowds. That’s also why the holiday applies only to federal workers in the D.C. area instead of nationwide.

The extra day off won’t be needed to keep things running smoothly, because the King holiday eliminates the usual weekday crush of commuters and workers.

Some federal employees will have to work Jan. 21 despite the holiday. Agencies can decide which, if any, employees need to work that day.

Workers who have to show up on holidays include law-enforcement officers, firefighters, medical personnel, meteorologists and watch-center operators.

When Inauguration Day falls on a Sunday, the chief justice can administer the oath of office privately that day and publicly the following Monday. That’s how the process will take place this time around.

This year marks the seventh time in U.S. history that the constitutionally mandated inauguration date has fallen on a Sunday, with the last instance occurring during President Ronald Reagan’s second inauguration in 1985, according to a press release from the office of Sen. Charles E. Schumer (D-N.Y.), who chairs the Joint Congressional Committee on Inaugural Ceremonies.

Perhaps more notable is the symbolic importance of President Obama taking the oath of office on the King holiday.

“It works so well together,” said Hilary Shelton, senior vice president of policy and advocacy for the NAACP and director of the organization’s D.C. bureau. “It’s a wonderful thing, because so many people that support Dr. King’s legacy and believe in his dream will be coming to this inauguration.”

Shelton said Obama’s efforts on job creation, hate-crime prevention, public education and access to health care align with the mission of the late civil rights leader, who was assassinated in 1968.

“Many people see the agenda President Obama has worked so hard to push forward as something that supports Dr. King’s vision,” he said. “If we look at the agenda put forward by this administration, we see a direct correlation with what Dr. King worked for and died for.”

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Karzai leaves Afghanistan for US talks

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KABUL: President Hamid Karzai on Monday left Afghanistan for talks with Barack Obama in Washington to focus on security in his war-torn country after NATO combat troops withdraw in 2014, his office said.

During his three-day official visit, a decision could be made on how many US troops will stay in Afghanistan after 2014, officials have said.

"President Karzai will hold separate meetings with President Barack Obama and other high-ranking US officials to discuss various key issues," Karzai's office said after his departure.

Talks will focus on security, economic and political transition, equipping and strengthening Afghan forces, efforts to negotiate peace with Taliban-led insurgents and a security agreement with the United States, it said.

Karzai has expressed support for keeping US troops in Afghanistan but sensitive details -- including immunity for American soldiers and the transfer of detainees into Afghan custody -- are still under negotiation.

The US Defense Department has reportedly prepared plans to leave roughly 3,000, 6,000 or 9,000 US troops in Afghanistan.

General John Allen, commander of US and NATO forces in Afghanistan, had earlier suggested leaving 6,000 to 20,000 US troops, US media reported.

US Defense Secretary Leon Panetta has said the force would focus on preventing Al-Qaeda, which was sheltered by the 1996-2001 Taliban government, from regaining a foothold in Afghanistan.

According to The Wall Street Journal, a smaller US troop presence would force the State Department to cut plans for large-scale diplomatic outposts across Afghanistan.

-AFP/ac



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Low intensity earthquake felt in Arunachal Pradesh

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NEW DELHI: A slight intensity earthquake shook Arunachal Pradesh on Monday.

The quake, which hit the state at 11:03am, measured 4.5 on the Richter scale, the MeT department said.

The epicentre of the quake was located at Latitude 28.1 degrees North and Longitude 94.3 degrees, it said.

A slight intensity quake had jolted Churachandpur region of Manipur on Thursday last.

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Best Pictures: 2012 Nat Geo Photo Contest Winners

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Pastor Accused of Killing Wives Faces Trial

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Jury selection is scheduled to begin Monday for Pastor Arthur Schirmer, who is accused of killing his second wife and then staging a car accident to hide it.


Schirmer, 64, also faces a second trial at a later date for the death of his first wife. He has said he is innocent of all charges.


In 2008, the pastor and his wife, Betty, were involved in what appeared at the time to be a car crash. Schirmer told police at the time that he had been driving 55 mph and swerved to miss a deer, causing him to drive off the road, according to a police affidavit obtained by ABC News.


Schirmer also said at the time that his wife's head had come forward and struck the windshield, according to the affidavit. Betty died a day later and her body was cremated at the request of Schirmer.


It wasn't until a grisly suicide in 2010 inside Schirmer's office that authorities decided to revisit the case of Betty Schirmer's death and arrest the pastor.


The man who broke in and shot himself at the desk in Schirmer's office at the Reeders United Methodist Church, Joseph Mustante, was the husband of the pastor's secretary, Cynthia Mustante, Poconos Township Police Detective James Wagner said.






Pocono Record, David Kidwell/AP Photo











Mustante's suicide was prompted by the discovery that his wife and the pastor had apparently been having an affair, Wagner said. He was alone at the time of his death.


Investigators looking into the suicide say that several church parishioners had concerns about the deaths of Schirmer's two wives.


"That suicide eventually exposed the affair publicly and subsequent to that, questions arose about the loss of [Schirmer's] wives and his character became questionable," Wagner said.


Relaunching the investigation into the two deaths, Wagner said he quickly suspected that "foul play existed, and the car crash was staged," allegedly, by Schirmer. Wagner said investigators also believed there was something "suspicious" about the first wife's death, a marriage that investigators had not known about prior to the suicide.

Investigators Look Into Deaths of Rev. Arthur Schirmer's Wives



Schirmer's first wife, Jewel, died in April 1999 from a traumatic brain injury after she purportedly fell down a flight of stairs in Lebanon, Pa., Wagner said.


Lebanon is about 100 miles southwest of Reeders, where Schrimer later moved with his second wife.


At the time of Jewel's death, Wagner said, a relative told police that he suspected Schirmer may have had a hand in his wife's death but that the investigation was "never completed."


On Dec. 11, 2012 -- more than 13 years after Jewel died, a Lebanon County judge ruled Schirmer would be tried for her murder.


When investigators looked at the death of Betty Schirmer, they saw inconsistencies, Wagner said.


"There was no airbag deployment and it simply looked like a car that had driven off the road at a very low speed," Wagner said. "It didn't match the injuries to [Betty's head].


"I know there are people out there who probably know him and feel like there is absolutely no way he would be capable of doing this," Wagner of Schirmer. "But they clearly don't know him."



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After ‘fiscal cliff,’ Obama finishes recharging on Hawaiian holiday

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HONOLULU — The place where President Obama vacations each winter is farther from Washington than almost any other place in the United States. So, it is not terribly surprising that less than 45 minutes after Congress passed a bill averting the “fiscal cliff” on Jan. 1, Obama was racing back here.


The president’s vacation with his family and friends had already been cut short by the protracted, painful negotiations in Washington over taxes and spending. Obama was eager to get away from it all and enjoy a few final days of rest before the next round of legislative battles begins.


“I think Hawaii for him is a place where he gets to recharge both physically and emotionally. The schedule is one that’s relaxing. The climate is warm like he likes it. And he’s surrounded constantly by family and the friends he grew up with,” said Robert Gibbs, Obama’s former press secretary and a longtime adviser. “It’s the perfect elixir for having had a long and busy year in national politics.”

The president was scheduled to leave Hawaii late Saturday, returning to Washington on Sunday a little before noon. He will have spent a total of nine days here, over two separate trips, and roughly 40 hours in the air going back and forth.

“Like any parent, the president enjoyed spending as much time with his family over the holidays as he could,” White House press secretary Jay Carney said.

The president first flew here Dec. 21, urging lawmakers to drink some eggnog and cool off over the Christmas holiday. Obama, his wife, Michelle, and their daughters, Malia, 14, and Sasha, 11, rented a house overlooking the beach in the town of Kailua, on the east side of Oahu, Hawaii’s most-populous island, where Obama was born and spent much of his youth.

As has become his custom, Obama spent his time eating at Hawaii hot spots with family and friends, golfing with buddies for six-hour stretches and hanging out at home and around Oahu with his girls. He spent his first night in Hawaii out until 11:30, dining at Morimoto Restaurant Waikiki, owned by Masaharu Morimoto of “Iron Chef” fame.

The next day began with a memorial service for Sen. Daniel K. Inouye (D-Hawaii), whom Obama had previously called his “earliest political inspiration.” Following the service, which was at a veterans cemetery known as the Punchbowl, for the topographical imprint left by volcanic eruptions tens of thousands of years ago, Obama and his wife walked about a half-mile southeast to visit the grave of his grandfather Stanley Dunham, who served in World War II.

Obama went for a hike with his family later that day and then spent part of Dec. 24 with his family at the beach. Many of the president’s activities were confined to the Marine Corps base here, about a 10-minute drive from his rental home.

The Obamas’ Christmas activities are an established routine. On Christmas Eve, Obama calls members of the armed forces and his wife calls children tracking Santa’s whereabouts, before the family sits down for dinner. The next morning, they open Christmas gifts, eat breakfast and sing carols. Later in the day, the president and his wife meet with a few hundred service members at the Marine Corps base.

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