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    La OPEP desea rebajar el precio del petróleo a US$100

    Sunday, May 13th, 2012

    PARÍS (EFE Dow Jones)–La OPEP quiere reducir los precios del crudo a US$100 por barril aumentando la producción, porque teme que se destruya la demanda, dijo el jueves el secretario general del grupo, Abdalá Salem el-Badri.

    El cambio en la política de la Organización de Países Exportadores de Petróleo podría ayudar a relajar aún más los precios, que ya han descendido ante los elevados inventarios.

    En una conferencia sobre energía en París, El-Badri explicó que están intentando reducir los precios. “No estamos contentos” con los precios en US$110-US$130 por barril, dijo.

    Indicó que la OPEP quiere precios de “US$100, porque son buenos para los productores y consumidores”.

    El-Badri dijo que la producción de la OPEP aumentó a 32 millones de barriles al día en marzo, dos millones al día más que el techo acordado por el grupo en diciembre.

    © 2011 Wall Street Journal (www.wsj.com)

    Según la UE, la economía de Holanda seguirá débil en 2012 y 2013

    Sunday, May 13th, 2012

    ÁMSTERDAM— La Comisión Europea afirmó el viernes que Holanda será uno de los países europeos con peor evolución económica en 2012 y 2013, ya que la tambaleante demanda interna por el desplome del mercado inmobiliario sigue lastrando a la economía.

    El brazo ejecutivo de la UE dijo en sus nuevas previsiones que el Producto Interior Bruto de Holanda se contraerá 0,9% en 2012, frente a la previsión de contracción de 1,4% hecha en noviembre pero en línea con las previsiones de febrero. Agregó que la contracción en Holanda se prolongará en el primer semestre de 2012 y que la economía volverá a territorio positivo en 2013, con un modesto incremento de 0,7%.

    Agence France-Presse/Getty Images

    El ministro de Finanzas holandés, Jan Kees de Jager.

    Pero destacó que las exportaciones serán “la única fuerza motora importante” del crecimiento el próximo año y que sus previsiones no toman en cuenta el impacto del nuevo paquete de austeridad que acordó el pasado mes el gobierno interino holandés.

    Las proyecciones ponen de manifiesto que Holanda será una de las economías más débiles de Europa en los próximos dos años, por detrás de países como Grecia, Portugal, Italia y España. La economía holandesa entró en recesión en el cuarto trimestre por primera vez desde la desaceleración económica de 2009, debido principalmente al importante descenso del consumo privado por la depresión del mercado inmobiliario.

    La floja previsión reducirá las perspectivas para el empleo, dijo la Comisión, que añadió que se espera que la tasa de desempleo suba a 5,7% en 2012 y a 6,2% en 2013. “Aunque sigue siendo bajo según los estándares europeos, estas tasas serían las más elevadas desde mediados de los 90″, indicó.

    El gobierno interino holandés logró el pasado mes un frágil acuerdo con los partidos de la oposición sobre un nuevo presupuesto de austeridad que debería reducir su déficit público al nivel máximo de la eurozona de 3% del PIB para 2013. Actualmente, está siendo valorado por la Comisión, que presentará sus conclusiones para finales de este mes. Sin medidas adicionales, el déficit fiscal holandés sería de 4,4% del PIB en 2012 y de 4,6% en 2013, dijo el viernes la comisión.

    © 2011 Wall Street Journal (www.wsj.com)

    German man has last laugh with “new home” obituary

    Sunday, May 13th, 2012


    BERLIN |
    Thu May 10, 2012 11:20am EDT

    BERLIN (Reuters) – A man who announced his change of address in a local newspaper sparked national media attention on Thursday due to the unusual location of his “new home” – six feet under the ground.

    Karl Albrecht, who died last month at the age of 88, penned the obituary himself in the style of a moving notice, inviting friends to a “lively” celebration at his new lodgings in a cemetery in Hamburg, northern Germany.

    “I have moved house. My new address: Olhsdorf-Ruhewald cemetery, plot Bx 65/28C,” the announcement in the Hamburger Abendblatt paper said.

    “I’ll be pleased to have a lively attendance,” it read.

    Albrecht had left instructions for his family to place the notice in the paper, the national daily Bild reported.

    The former insurance salesman had been a joker all his life and loved to laugh, his widow Anastasia told the newspaper.

    “At the grave there’ll be schnapps for all the guests. He would have wanted that,” she said, adding he wanted the women to wear bright floral dresses.

    “Nobody should turn up in black. My Karl could never stand gloominess,” she said.

    (Reporting by Alice Baghdjian, editing by Paul Casciato)

    © 2011 REUTERS (www.reuters.com)

    El yuan sigue en prisión

    Sunday, May 13th, 2012
    [yuan0416]

    Reuters

    La moneda china es como un prisionero que ha sido llevado desde el confinamiento en solitario hacia el espacio común. Tiene más espacio para moverse, pero todavía no es libre.

    Desde el lunes, se permitió a los mercados mover la moneda china un 1% por encima o por debajo de la tasa de referencia fijada por el gobierno cada mañana, un aumento desde el 0,5% anterior. El cambio refleja la confianza de Beijing en que el yuan está acercándose a su valor justo y no será forzado a apreciarse de manera pronunciada por parte de los inversionistas alcistas

    Hay algo de justificación para eso.

    El ejercicio estándar para estimar el valor justo es observar el tamaño actual del superávit de cuenta corriente de China en relación al producto interno bruto. Calcular cuánta apreciación de la moneda se requeriría para poner al superávit en línea con las normas internacionales entrega una estimación de subvaluación.

    En 2007, el superávit de cuenta corriente alcanzó un máximo del 10,1% del producto interno bruto y se esperaba que se mantuviera en torno a ese nivel. Ello disparó las estimaciones de William Cline y John Williamson -economistas del Peterson Institute- acerca de que el yuan estaba subvaluado en un 40% frente al dólar.

    Ahora el superávit de China ha caído al 2,8% del PIB en 2011. La cifra es inferior a la meta del 4% propuesta en algún momento por el secretario del Tesoro de Estados Unidos, Timothy Geithner, lo que sugiere que el grado de subvaluación se ha reducido drásticamente.

    Otra manera de calcular el valor justo del yuan sugiere que sigue estando demasiado barato. El enfoque de la paridad de poder adquisitivo sostiene que, una vez que se convierte a una moneda común, el precio de los bienes en diferentes países debería ser equivalente. Basado en esto, Arvind Subramanian -también economista de Peterson- estima que en 2010 el yuan todavía estaba un 31% subvaluado.

    El problema de este enfoque es la enorme incertidumbre sobre los niveles de precios en China. Los cálculos de Subramanian se basan en promediar cuatro estimaciones que van desde el 14,5% al 47,4%.

    Hasta ahora, la confianza de Beijing luce bien fundada. El yuan cerró el lunes a 6,315 por dólar, un 0,3% menos que la tasa de referencia.

    Pero una verdadera tasa de mercado está algo lejos. Con US$3,3 billones en reservas internacionales, Beijing sigue siendo una presencia fuerte en el mercado. Mientras esas reservas continúen acumulándose, el yuan seguirá en prisión y su valor justo aun tiene que ser liberado.

    © 2011 Wall Street Journal (www.wsj.com)

    Gambling row hits S Korea monks

    Saturday, May 12th, 2012

    The leader of South Korea's biggest Buddhist order has apologised after monks were filmed apparently gambling illegally.

    Six leaders of the Jogye order offered to resign on Thursday after the secretly-filmed footage emerged.

    Film apparently showing monks playing poker at a luxury hotel, some smoking and drinking, was aired on television.

    Gambling is illegal in South Korea, apart from in designated places such as casinos catering mostly to tourists.

    Gambling is also a violation of the code of conduct for monks of the Jogye order.

    The six members of the order's executive committee offered to resign on Thursday to take responsibility for the incident.

    Leader Master Jinje also said he would "self-repent" on behalf of the monks concerned.

    The order says it has more than 10 million followers – about 20% of the population of South Korea.

    But it has reportedly been hit by feuds and factional infighting.

    Local media reports said that the footage was thought to have been shot by a monk from the same order described as an opponent of the current administration.

    © 2011 BBC News (www.bbc.co.uk)

    Outrage over child beating video — a year later

    Saturday, May 12th, 2012

    In a post on their Facebook page this week, the Malaysian Police said they had received hundreds of complaints and comments about the case after the four-minute video of the mother repeatedly striking the baby with her hand, her foot and a pillow went viral.

    The video fueled anger and disgust among Internet users from Malaysia to Massachusetts, where local news broadcaster WWLP-22News reported receiving “many emails” about the footage.

    The mother was 18 years old when she inflicted the beating on her 10-month-old child in May 2011, according to Arjunaidi Mohamed, the chief of police in Petaling Jaya, the suburb of Kuala Lumpur where the attack took place.

    A friend of the mother, who had become concerned after witnessing her beating the child previously, filmed the violence and took the video evidence to the police the same day, Arjunaidi said.

    As a result, the mother was convicted of child abuse and sentenced to 18 months in prison, he said, declining to disclose her name.

    Attempts to obtain comment from the mother or a representative for her were unsuccessful Friday.

    The baby was put into the care of a foster family after her mother’s arrest and is now doing “very well,” said Fatimah Zuraidah Salleh, deputy director of the children division of the Social Welfare Department.

    Welfare officials check in every month with the foster family, who are unconnected to the family of the mother, Fatimah said.

    The initial furor this week among Internet users over the video appeared to stem from uncertainty about when the beating took place and the current status of the mother and child.

    Once the Malaysian Police clarified the situation, online reactions consisted of relief that the authorities had intervened and dismay that the mother had not received a harsher sentence.

    “Good to hear police immediately took action and thanks for clearing the air,” a Facebook user named Prakash Raj said in a comment on the police’s page, adding that he thought the sentence was too light.

    “She’s lucky that didn’t happen here in the States,” said another Facebook user, Cindy Watanabe. “Not only would her sentence be a whole lot longer, she probably wouldn’t have made it to prison to serve her time and would never be able to hurt another child again.”

    A court will assess whether the mother, who is to be released in late November, will be allowed to regain custody of the child, should she wish to, Fatimah said, adding that the process is rigorous.

    Arjunaidi, the police chief, refuted speculation that the mother had been raped before committing the abuse.

    He said the woman was unmarried. He ascribed the cause of her actions to “frustration.”

    It was unclear why the video had surfaced online a year after the event. The police are investigating the leak of the video, Arjunaidi said.

    By Friday evening, some of the Facebook posts of the video were taken down.

    CNN’s Alden Mahler Levine contributed to this report.

    Down and Out in Paris and Lille

    Saturday, May 12th, 2012

    French unemployment ticked up in March for the 11th month in a row, and is now expected to hit 9.7% by June—its highest rate since 1999. This is the kind of lousy news that could only have a silver lining if it shaped a national consensus in favor of serious reform of the country’s restrictive labor laws. Don’t get your hopes up.

    When the numbers came in on Friday, Les Echos published an interview with Prime Minister François Fillon, asking why President Nicolas Sarkozy was proposing “nothing in the way of labor-market reform” as part of his re-election bid. Mr. Fillon replied by touting his boss’s proposal to give companies the freedom to negotiate salaries, working-times and conditions at the company level, provided a majority of unions agree—a “major” new “element of flexibility,” according to Mr. Fillon. Mr. Sarkozy has also promised to reform unemployment insurance to put increased pressure on job-seekers to accept whatever work they can get.

    These aren’t trivial reforms, and French companies would certainly welcome being a little less wedged in to some of the pan-sectoral agreements that have maintained rigid and expensive mandates in the French workplace. Yet the changes would still leave more than 3,000 pages of the notorious French labor code, which legislates everything from paid paternity leave to conditions for working at night. Businesses and workers alike would still have to navigate between more than 80 different types of permissible contracts—each with their own rules for recruitment, renewal, trial-periods and termination.

    And that’s just now. In his interview, Mr. Fillon pointed out that François Hollande, Mr. Sarkozy’s Socialist rival, would do away with the few reforms the current government has passed, such as tax cuts for overtime pay and pension contributions.

    With just a week to go before the election, there isn’t much time for Mr. Sarkozy to offer fresh thinking about what he can do about France’s chronic lack of economic growth and opportunity. Little wonder he spent the weekend talking tough about immigration and Dominique Strauss-Kahn (remember him?). But whoever wins on May 6, France’s unemployment rate is going to remain a topic that can neither be switched nor wished away. Any government that fails to address it will eventually find itself on the losing side of an electoral ballot.

    © 2011 Wall Street Journal (www.wsj.com)

    Ceuta, Melilla profile

    Friday, May 11th, 2012

    Ceuta and Melilla, fragments of Europe on north Africa's Mediterranean coast, came under Spanish control around 500 years ago.

    Madrid says the urban enclaves are integral parts of Spain. They are surrounded by Morocco, which views the Spanish presence as anachronistic and claims sovereignty.

    But improving relations were jeopardised in November 2007 by Spanish King Juan Carlos' II first visit to the territories in more than 30 years, which King Mohammed VI strongly condemned.

    Spain also controls a scattering of islets along the north African coast, including uninhabited Perejil, which was at the centre of a spat in 2002 when Moroccan soldiers occupied it before being removed by the Spanish army.

    More recently, differences over Ceuta and Melilla have not prevented a warming of relations between Morocco and Spain, particularly economic ones. Morocco's premier has advocated "neighbourly" talks on the issue.

    With its rebuilt 15th century cathedral, shipyards and a fish-processing plant, Ceuta is viewed by Spain as the more strategically-valuable enclave. The town is a 90-minute ferry ride from mainland Spain.

    Melilla, conquered in 1497, is a modern town with a distinctive old quarter.

    The enclaves are surrounded by fences, intended to deter illegal immigrants. But Ceuta and Melilla are nonetheless used by many Africans as stepping-stones to Iberia. Many migrants are caught and some drown while attempting to make the sea crossing. People trafficking is common.

    After a series of increasingly-desperate attempts by would-be immigrants to surmount the barriers in 2005, Spain and Morocco agreed to deploy extra troops to try to secure the borders.

    Ceuta and Melilla are linked to Spain by ferry services to Malaga, Algeciras and Almeria. Borders and defence are controlled by Madrid. Tourism is an important money-earner with duty-free goods being a big draw for visitors.

    © 2011 BBC News (www.bbc.co.uk)

    Photo exhibition reveals the spirit of old Mexico

    Friday, May 11th, 2012

    Dubai A rare collection of photographs taken in Mexico by Italian photographer Tina Modotti during the 1920s has been opened to the public at the Dar Ibn Al Haytham for Visual Arts Centre in Al Bastakiya.

    The Mexican Ambassador to the UAE, Francisco Alonso, along with officials from the Dubai Culture and Arts Authority inaugurated the exhibition on Tuesday.

    Called ‘Tina Modotti: Una Nueva Mirada (A New Look),’ the exhibition features 26 photographs depicting post-revolution Mexico in the 1920s. The exhibition, which will run until May 20, is part of a world tour and will next be featured in Turkey before heading for Europe. "The Mexican government promotes [our] culture all over the world. We try to make a lot of cultural activities in order for people to see the Mexican culture even in the emirates," Alonso told Gulf News.

    These government-owned photographs of Modotti provide a pictorial critique of the wide gap between the rich and the poor in Mexico at that time. Her subjects ranged from women, the labour class, to symbols of the revolution.

    Article continues below

    © 2011 Gulf News (www.gulfnews.com)

    Canada country profile

    Friday, May 11th, 2012

    Canada is the second largest country in the world after Russia. However, its population is only about one-fifth of Russia's.

    Nearly 90% of Canadians live within 200km of the border with the United States, which means that Canada contains vast expanses of wilderness to the north.

    The relationship to its powerful neighbour is a defining factor for Canada. The US and Canada have the world's largest trading relationship.

    The North American Free Trade Agreement, involving Canada, the US and Mexico, has brought a trade boom for Canada. But thorny issues abound. American moves which impact on Canadian exports, in the form of tariffs on Canadian timber and increased subsidies for US farmers, have created particular tension.

    Canada is also worried about pollution from US factories near the border, and about the possible impact on the environment of the exploitation of oil deposits in Alaska.

    Canada pursues a foreign policy that is distinct from that of the US. The country has committed troops to the American-led war on terror, but does not back the US trade embargo on Cuba. Canada did not send troops to join the US-led war in Iraq.

    After the 11 September 2001 attacks in the US, the challenge of securing the 9,000-km Canada-US border from possible terrorist infiltration prompted both countries to look at ways of sharing information.

    Immigration has helped to make Canada one of the world's richest nations. Challenges related to discrimination and integration are gaining increasing attention. Many recent newcomers hail from Asia. Canada's indigenous peoples make up less than two per cent of the population. The way in which provincial governments share land and natural resources with native groups is an ongoing issue.

    Separatist aspirations in the predominantly French-speaking province of Quebec are a major domestic issue. A referendum in 1995 saw advocates of an independent Quebec only narrowly defeated. Subsequent opinion polls indicated a fall in support for independence and the pro-independence Parti Quebecois was defeated in 2003's provincial election.

    The concept of nationhood for Quebec resurfaced in late 2006, when parliament agreed that the Quebecois should be considered a "nation" within a united Canada. The move was largely symbolic, having no constitutional or legal grounding.

    Canada has been asserting its sovereignty in the Arctic with growing vigour and has become embroiled in territorial spats with the US and Denmark. At stake is the possible bounty from previously-untapped reserves of oil and gas.

    © 2011 BBC News (www.bbc.co.uk)