Asean Summit, Malaysia on Nov 21, 1015

Asean Summit, Malaysia  on Nov 21, 1015
Asean Establishes Landmark Economic and Security Bloc
"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - Text version)

“….. Here is the prediction: China will turn North Korea loose soon. The alliance will dissolve, or become stale. There will be political upheaval in China. Not a coup and not a revolution. Within the inner circles of that which you call Chinese politics, there will be a re-evaluation of goals and monetary policy. Eventually, you will see a break with North Korea, allowing still another dictator to fall and unification to occur with the south. ….”

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)









North Korean defector criticises China in rare Beijing talk

North Korean defector criticises China in rare Beijing talk
North Korean defector and activist Hyeonseo Lee, who lives in South Korea, poses as she presents her book 'The Girl with Seven Names: A North Korean Defector’s Story' in Beijing on March 26, 2016 (AFP Photo/Fred Dufour)

US under fire in global press freedom report

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …

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Showing posts with label Brazil. Show all posts
Showing posts with label Brazil. Show all posts

Monday, October 17, 2016

Xi warns of globalisation backlash at BRICS summit

Yahoo – AFP, Bhuvan Bagga, October 16, 2016

(From left) Brazilian President Michel Temer, Chinese President Xi Jingping,
Indian PM Narendra Modi, Russian President Vladimir Putin and South African
President Jacob Zuma in Goa on October 15, 2016 (AFP Photo/Prakash Singh)

Benaulim (India) (AFP) - Chinese President Xi Jinping said Sunday a rising tide of protectionism and anti-globalisation was endangering the world economy's still fragile recovery as BRICS leaders vowed to forge closer business and trade ties.

At a summit in the Indian tourist hub of Goa, host Prime Minister Narendra Modi and the leaders of China, Russia, Brazil and South Africa issued a joint declaration on a range of measures, including the setting-up of a new credit ratings agency and fighting tax evasion.

They also agreed to work together to combat "cross-border" terrorism, but Modi's guests held off from signing up to his fierce condemnation of India's arch-rival Pakistan as the "mothership of terrorism".

BRICS was formed in 2011 with the aim of using members' growing economic and political influence to challenge Western hegemony.

The nations, with a joint estimated GDP of $16 trillion, set up their own bank in parallel to the Washington-based International Monetary Fund and World Bank and hold summits rivalling the G7 forum.

But the countries, accounting for 53 percent of world population, have been hit by falling global demand and lower commodity prices, while several have also been mired in corruption scandals.

Russia and Brazil have fallen into recession recently, South Africa only just managed to avoid the same fate last month and China's economy has slowed sharply.

Both Xi and Modi said the group must stick together, insisting there was much to remain positive about even though its members have been beset by domestic woes and problems sparked by the 2008 financial crisis.

"At present the deep-seated impact of the international financial crisis is still unfolding. The global economy is still going through a treacherous recovery and deep adjustments," Xi said.

Chinese President Xi Jinping shakes hands with Russian President Vladimir
Putin at the BRICS Summit in Goa on October 15, 2016 (AFP Photo)

The Chinese president said "deep-seated imbalances that triggered the financial crisis" were far from being resolved.

"Some countries are getting more inward-looking in their policies. Protectionism is rising and forces against globalisation are posing an emerging risk," he added.

While Xi did not single anyone out, Republican candidate Donald Trump has threatened to erect trade barriers to Chinese products if elected US president. Britain's vote to leave the European Union has been interpreted partly as a backlash against globalisation.

While China's economy has been running out of steam of late --although it is still the world's second largest -- India is now the fastest-growing major economy and its GDP is expected to increase 7.6 percent in 2016–17.

'Deeper bonds'

Modi said it was vital the BRICS nations increased cooperation by dismantling trade barriers and developing infrastructure.

"I think I speak for all when I say that through a common vision and collective action, we will create and sustain deeper bonds among BRICS nations, develop our economies and secure our societies," he said.

"While our achievements have been substantial, we need to sustain the positive direction and strong momentum of intra-BRICS engagement."

Xi said BRICS countries had much to be proud of and had contributed to more than 50 percent of global growth in the last decade.

"The past decade has seen BRICS partnership expanding with win-win results," he said.

"We need to deepen our partnership: we BRICS countries are good friends, brothers and partners that treat each other with sincerity."

Russian President Vladimir Putin meanwhile called for closer cooperation in areas such as e-commerce and space exploration. Modi confirmed that the leaders had agreed to fast-track setting up a new ratings agency amid accusations from within the bloc that the three traditional agencies -- Moody's, Standard & Poor's and Fitch Ratings -- are all Western-based.

"We look forward to translating into reality the idea of a BRICS Credit Rating Agency," he said, without giving details of the much-trailed agency or timeline for its establishment.

Modi, who is pushing to isolate Pakistan following a surge in tensions between the nuclear-armed neighbours, urged his peers to take a strong united stand against the "mothership of terrorism" in the South Asian region, in a thinly veiled reference to Pakistan.

But with China reluctant to embarrass its traditional allies in Islamabad, a joint statement at the end of the summit only referred to a vague goal of combating "cross-border terrorism and its supporters".

India's Narendra Modi shakes hands with Russian President Vladimir Putin 
ahead of the Indo-Russia Annual Summit at Taj Exotica Hotel in Goa on 
October 15, 2016 (AFP Photo/Prakash Singh)

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Saturday, August 13, 2016

India sports minister draws flak over Rio entourage behaviour

Yahoo – AFP, August 12, 2016

India's sports minister Vijay Goel attends a Rio Olympics press conference in
New Delhi on July 25, 2016 (AFP Photo/Sajjad Hussain)

New Delhi (AFP) - India's sports minister drew widespread criticism Friday after the organisers of the Rio Olympics reportedly accused his entourage of "aggressive and rude" behaviour at the Games and threatened to cancel his accreditation.

The Rio organising committee said it had received multiple reports of Vijay Goel trying to get unaccredited people accompanying him into Olympic venues.

"We have had multiple reports of your minister for sports trying to enter accredited areas at venues with unaccredited individuals," the Press Trust of India news agency quoted committee manager Sarah Peterson as saying in a letter to India's chef de mission Rakesh Gupta.

"When the staff try to explain that this is not allowed, they report that the people with the minister have become aggressive and rude and sometimes push past our staff," she said.

"Should our protocol team be made aware of further examples of this type of behaviour, the accreditation of your minister for sports will be cancelled and his privileges at the Olympic Games withdrawn."

Goel has denied any wrongdoing, saying it was a "misunderstanding".

"What is being said is that my staff may have done something wrong, but I am not aware of this or any misbehaviour. Nothing is being said about me, it is about my staff," he told the NDTV news network in Rio.

But the charge has led to an outpouring of anger on social media in India, where politicians are frequently accused of abusing their position to skip queues or zip through traffic in their official cars.

"Sad to see our ministers carrying the 'do you know who I am?' attitude to Rio Olympics," said one Twitter user, Karun Chandhok.

"Finally, India has won a medal at Rio Olympics. It's for lunatic behaviour. Thank you sports minister," tweeted another.

The Indian Express newspaper meanwhile accused Goel of spending his time in Rio taking selfies with "exhausted Indian athletes".

India has sent a 118-strong contingent to Rio, its largest ever for an Olympic Games, and the sports ministry has set a target of 10 medals.

But athletes complain of substandard training facilities and a lack of government investment in sport in a country that has enjoyed two decades of rapid economic development and has a booming population of 1.25 billion.

Tuesday, December 1, 2015

IMF approves China's yuan as elite reserve currency

Yahoo – AFP, Veronica Smith, 30 Nov 2015

The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen 
and British pound in the basket of currencies the IMF uses as an international
reserve asset (AFP Photo/Philippe Lopez)

Washington (AFP) - The International Monetary Fund welcomed China's yuan into its elite reserve currency basket on Monday, recognizing the ascendance of the Asian power in the global economy.

The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound next year in the basket of currencies the IMF uses as an international reserve asset.

IMF Managing Director Christine Lagarde called the decision "an important milestone in the integration of the Chinese economy into the global financial system."

"It is also a recognition of the progress that the Chinese authorities have made in the past years in reforming China's monetary and financial systems."

The move by the IMF executive board, representing the institution's 188 member nations, solidifies China's ambition to see the government-controlled yuan achieve global status as one of the world's top currencies alongside the United States, Europe and Japan.

China, the world's second-largest economy, asked last year for the yuan to be added to the Fund's Special Drawing Rights basket.

But until recently the currency was considered too tightly controlled to qualify. The yuan already had met the IMF criteria for being widely used.

The board approval had been widely expected after IMF staff experts earlier in November said that Chinese authorities had taken the steps necessary for the yuan to be called "freely usable", and Lagarde endorsed their recommendation.

International Monetary Fund Managing Director Christine Lagarde, said on 
November 30, 2015 the yuan's inclusion in the elite reserve currency basket was
expected to help China open up further to the world economy (AFP Photo/
Mandel Ngan)

Lagarde said the yuan's inclusion in the basket was expected to help China open up further to the world economy.

"The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy," she said.

IMF members can use the Special Drawing Rights basket to obtain currencies to meet balance-of-payments needs. The Fund also issues its crisis loans -- crucial to struggling economies like Greece -- valued in SDRs.

The yuan's entry into the basket takes effect on October 1, 2016.

China's central bank has taken steps to free up the movement of the yuan. The unexpected devaluation of the yuan last August received good marks from the IMF as it expanded the currency's movements based on market forces.

In addition, Beijing last Wednesday announced that an initial group of foreign central banks has been allowed to enter the Chinese currency market, which likely will promote further internationalization of the yuan in global trading.

Chinese challenges

But China is expected to face challenges with the yuan included as an IMF reserve currency.

It puts the Bank of China under pressure to provide more transparency in line with its peers, such as the Federal Reserve and the European Central Bank.

Lagarde, speaking at a news conference, said the IMF had worked "very hard" in the last few months in the process of making the decision.

She emphasized that it is a work in progress, and that the IMF will continue to monitor all criteria and compliance from all five authorities whose currencies are represented in the basket.

The composition and weightings of the SDRs basket are reviewed every five years. The last time the currencies in the basket were changed was in 2000, when the euro replaced the German deutschemark and the French franc.

The inclusion of the yuan in the IMF basket came with the support of the United States, the IMF's largest shareholder.

Until recently Washington accused China of keeping the yuan artificially low to gain a trade advantage. But in October the US Treasury Department softened its tone, saying that after Beijing's moves to loosen controls, the yuan "remains below its appropriate medium-term valuation."

Still, the IMF decision risks angering some lawmakers in the US Congress amid fierce maneuvering for the 2016 presidential election.

Congress, for example, has repeatedly refused to ratify a 2010 IMF reform that would give greater weight to China and the four other emerging-market powers in the so-called BRICS: Brazil, Russia, India and South Africa.

Wednesday, January 28, 2015

Commentary: In Saudi King Eulogy, Reminder of Pardons to Indonesians on Death Row

The president must be aware that routine executions of criminals are not a characteristic of democratic countries

Jakarta Globe, Johannes Nugroho, Jan 28, 2015

A picture taken on Jan. 26, 2015 in the coastal seaport City of Jeddah shows a
 Saudi man carrying his baby to pose for a picture in front of a mural dedicated to
 late King Abdullah bin Abdulaziz with a slogan in Arabic reading: ‘Where are you
going? Look back and say hello. We didn’t get enough of you’. (AFP Photo)

In a eulogy of recently deceased King Abdullah of Saudi Arabia, former President Susilo Bambang Yudhoyono said: “At my request, the late king pardoned many Indonesian citizens who had been sentenced to death by Saudi courts.”

His remark is a timely reminder that attempts made by any government to prevent the execution of its citizens in a foreign nation are part of routine diplomacy. And apparently neither Yudhoyono nor the Saudi government saw the request as an intrusion into Saudi Arabia’s sovereignty. By contrast, a great portion of local media has portrayed attempts made by various foreign governments to plead clemency for their citizens on death row as an outlandish attack on Indonesia’s sovereignty.

Egged on by the media frenzy over threats to our “judicial sovereignty,” most Indonesian social media users have applauded the government’s adamant stance on denying clemency to those sentenced to death in our courts. The subsequent recalls of the Dutch and Brazilian ambassadors following the execution of six drug traffickers swung the Indonesian public opinion further into the government’s camp.

As common sense gives way to emotions, many of us have evidently forgotten that we ourselves take umbrage every time we learn an Indonesian national has been sentenced to death abroad.

It is surprising that the Dutch government decided to recall its ambassador from Jakarta, considering it did not take such action when Dutch engineer Johannes van Damme was hanged for heroin smuggling in 1994 by the Singaporean government. But over 20 years have passed since van Damme’s execution, and so the sociopolitical circumstances in the Netherlands today cannot possibly be compared to those in the recent past.

We should also understand that, although Singapore is widely admired for its order-liness and world-class standards of public service, it is not perceived as a working democracy. Despite the existence of elections in the small republic, the results have always been predictable. Civil liberties are also highly regulated there, effectively making freedom of speech something arbitrated by the government.

By juxtaposition, Indonesia’s democracy — flawed as it may be — is seen as the most robust in Southeast Asia. More importantly, President Joko Widodo at first managed to generate a worldwide image as a leader with a strong commitment to democracy and human rights. Arguably, much of Joko’s image as a defender of human rights is based on hope rather than on scrutiny of his performance in office.

The international media was also guilty of promoting this perception of Joko by portraying him as a man of the people and democracy. TIME magazine, placing Joko on its front cover last October, described the new president as “the new face of Indonesian democracy” and “the world’s most modest national leader.”

So, it was no wonder that most Western governments, perhaps rather naively, assumed that he was a leader who shared their values. Seen in this context, Joko’s seemingly inhumane refusal to grant clemency to drug offenders on death row was something contrary to what people expected of him. His attitude towards capital punishment was likely formed long ago, but attracted no attention.

While wrong on human rights, the foreign media was accurate in predicting the Joko government’s insularity, which is evident not just in its indifference to, if not anger at, foreign protests over the death penalty, but also in its foreign affairs directives. But the president must be aware that routine executions of criminals are not a characteristic of democratic countries.

Though Yudhoyono may not have had the prisoners on Indonesia’s own death row in mind at the time, his praise of King Abdullah’s mercifulness is indeed a potent reminder that mercy can legitimately be shown to people condemned to death.

Moreover, if an autocracy like Saudi Arabia can show mercy, why can’t a beacon of democracy like Indonesia?

Johannes Nugroho, a writer from Surabaya, can be contacted at johannes@nonacris.com.
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Sunday, November 16, 2014

Narendra Modi : Repatriation of black money, BRICS bank key priorities

India.com, Indo-AsianNews Service, November 15, 2014


Brisbane, Nov 15: Indian Prime Minister Narendra Modi Saturday said the repatriation of black money kept abroad was a key priority and called for “close coordination” on the issue during an informal meeting of the five-nation BRICS leaders here ahead of the G20. The prime minister told the leaders of Brazil, Russia, China and South Africa that “repatriation of unaccounted money kept abroad is a key priority for us”, according to tweets posted by the external affairs ministry spokesperson Syed Akbaruddin. Read - Repatriation of black money key priority: Narendra Modi at BRICS

Modi also said that BRICS should set 2016 as the target for the inauguration of the BRICS Bank. The ministry of external affairs, tweeting about the speech, wrote: “At BRICS meet ahead of G-20 PM @narendramodi calls for ‘Close coordination on unaccounted money kept abroad’.”

“Unaccounted money abroad is also linked to security challenges – PM @narendramodi ahead of G-20 Summit in Brisbane,” said the MEA tweet. In his departure statement Nov 11 before leaving on his tour to Myanmar, Australia and Fiji, the prime minister had said that he will highlight the importance of global cooperation against black money at the G20, which kicks off here Saturday.

The informal meeting of BRICS is an event held on the sidelines of the G20. He thanked Brazil’s President Dilma Rousseff for hosting the BRICS Leaders’ Meeting and congratulated her on her re-election. Referring to the Sixth BRICS Summit held at Fortaleza, Brazil in July, Modi said it had “delivered – the New Development Bank and the Contingent Reserve Arrangement”.

“These signal our collective capacities to create and manage global institutions. These can be effective in promoting sustainable development and bridge infrastructure gaps. We can be more aligned to local conditions and requirements. We should focus on next generation infrastructure,” he said, according to an official statement. He said: “We can promote new models of governance and financing, while maintaining the highest banking standards. We should also make it more participatory and urged towards its early implementation. We propose that we should set the target of 2016 for inauguration of this Bank.”

“We hope to ratify the agreement by the end of the year. We would soon nominate our candidate for the post of the Presidency. The Contingent Reserve Arrangement is also a very timely initiative. ”The work on the Reinsurance pool among BRICS is also a welcome one. We hope that our officials will be able to come up with a concrete proposal by the next year.”

These measures send a strong message to the rest of the world about the efficacy of BRICS. ”Besides these, we have started work on many other proposals that would deepen our relations and enhance our cooperation in all spheres,” he said. On the sidelines of the meeting, Modi warmly shook hands with Rousseff, who won a tough re-election last month, smiled and chatted with Russian President Vladimir Putin who is slated to come to New Delhi next month for the annual summit, and also with Chinese President XI Jinping, who came to India in September.

He also chatted with South African President Jacob Zuma.

Friday, July 18, 2014

With NDB established, Beijing turns to new bank for Asia

Want China Times, Kao Hsing and Staff Reporter 2014-07-18

A sign for the APEC 2014 second senior officials' meeting in Qingdao,
Shandong province, May 14. (File photo/CNS)

After the establishment of the New Development Bank (NDB) operated by the BRICS states on July 16, China is proposing to set up the Asian Infrastructure Investment Bank (AIIB) as another part of Beijing's bid to break the dominance of the United States and Japan-led international financial institutions.

The NDB, an alternative to the World Bank and the International Monetary Fund, is run by Brazil, Russia, India, China and South Africa.

China's next move is to launch the AIIB, which is considered a rival to the World Bank and the Japan-led Asian Development Bank.

The AIIB concept was proposed by President Xi Jinping at last year's Asia-Pacific Economic Cooperation (APEC) summit and its goal is to raise funds for infrastructure construction in Asia. In addition, the AIIB will invest in railways, road and airport construction that connects Central Asia, Middle East and Europe.

China has invited participation from 22 countries in the Middle East and Central and South Asia, as well as member states of the Association of Southeast Asian Nations (ASEAN).

Premier Li Keqiang championed the AIIB idea when meeting the prime minister of Kuwait in June. Xi also brought up the AIIB issue several times during his recent meeting with President Park Geun-hye of South Korea, and they are understood to have reached a certain consensus.

At the annual BRICS summit this year, to attract India's participation in the AIIB, Xi invited India's new prime minister, Narendra Modi, to attend the APEC summit set to be held in Beijing in November, the first time for India to attend the annual event having declined participation over the last decade.

China also hopes the invitation will prompt India to back the establishment of the AIIB as well as quell discontent in India at the NDB being headquartered in Shanghai.

Beijing plans to complete the memorandum of understanding for the structure and establishment of the AIIB by the end of this year and officially launch it during the first half of next year. It also plans to join the Eurasian Development Bank soon after.


Chinese President Xi Jinping (4-L, first row) poses with leaders of the
 CELAC group of Latin American and Caribbean states, in Brasilia, on July 17,
 2014 (AFP Photo/Nelson Almeida)

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Wednesday, July 16, 2014

BRICS bank will reduce Western dominance: Chinese media

Yahoo – AFP, 16 July 2014

Chinese President Xi Jinping (L) checks documents during the 6th BRICS
Summit in Fortaleza, Brazil, on July 15, 2014

Chinese media on Wednesday hailed the creation of the BRICS development bank, to be based in Shanghai, blaming Western countries and multilateral agencies for flaws in the global financial system.

At a summit in Brazil, the BRICS group of emerging economic powers -- which also includes Russia, India, China and South Africa -- on Tuesday created the New Development Bank to finance infrastructure projects.

China's official news agency Xinhua cited Western dominance of the international financial system as the motivation.

"The plans of the emerging-market bloc of BRICS to establish a development bank usher in a long-awaited and helpful alternative to the Western-dominated institutes in global finance," Xinhua said in an editorial.

An opinion piece in the Global Times newspaper, known for its nationalistic editorial stance, said competition from the BRICS bank could prompt the World Bank and the International Monetary Fund (IMF) to carry out much-needed internal reforms.

"BRICS countries have to blaze a new trail to reduce losses as well as safeguard interests," wrote Liu Zongyi, a research fellow at the government-linked Shanghai Institute for International Studies.

"Loans from the World Bank are not able to meet the demands of the developing nations... The IMF also failed to play an active role in stabilising the turbulent emerging financial markets during the global financial crisis," he said.

Developing countries were at the mercy of the United States during the recent economic crisis, he said, given the dominance of the dollar and Washington's timing of its quantitative easing policy.

Hong Kong's pro-China Wen Wei Po newspaper said BRICS members selection of China's commercial hub for the headquarters symbolised the rise of the country, now the world's second largest economy.

"Setting up the headquarters of the BRICS development bank in Shanghai shows the image of China becoming a great power on the international stage," the newspaper said.

"Shanghai has the best conditions as the first choice location for the BRICS bank headquarters," it added.

Last year, Shanghai established China's first free trade zone to pilot financial reforms. The city is seeking to become an international financial centre but lack of free convertibility of China's yuan currency is a major obstacle, analysts say.



Related Article:


BRICS create development bank, based in Shanghai

Yahoo – AFP, 15 July 2014


The BRICS group of emerging powers launched a $50 billion development bank Tuesday to be based in Shanghai and a $100 billion crisis contingency fund, according to a joint declaration.

The New Development Bank's first president will be from India while the board's chairman will be Brazilian, according to the declaration released at a summit in Fortaleza, Brazil.

The bank will have an initial subscribed capital of $50 billion followed by an authorized capital of $100 billion, equally shared among Brazil, Russia, China, India and South Africa.

The Contingency Reserve Arrangement will have an initial size of $100 billion and will help countries avoid "short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements."

Thursday, July 10, 2014

Russia proposes energy association within BRICS

English.news.cn2014-07-10

MOSCOW, July 10 (Xinhua) -- Russia plans to establish an energy association within the BRICS countries, the Kremlin said Thursday.

"Russia is going to propose the establishment of the BRICS energy association, which would guarantee energy security of the member countries, conduct integrated research and analysis of global markets," presidential aide Yuri Ushakov said.

The organization will include a fuel reserve bank and an institution for energy policy, he added.

The official said the initiative has been discussed at the governmental level.

BRICS is the acronym for five major emerging economies, namely Brazil, Russia, India, China and South Africa. The sixth BRICS summit is due to take place on July 15-16 in Brazil.

According to Ushakov, the summit will discuss cooperation in trade, investment and financial sphere, as well as international political affairs like the Ukraine crisis.

The leaders will also sign an agreement on currency reserves pool, "a foundation of macroeconomic coordination of the five countries, to help strengthen the global financial system," Ushakov said.

A BRICS Development Bank was first mooted during the New Delhi summit in March 2012, so as to "establish a BRICS financial safety net."

Russian President Vladimir Putin, Chinese President Xi Jinping, Brazilian President Dilma Rousseff, South African President Jacob Zuma and Indian Prime Minister Narendra Modi will attend the summit.

Tuesday, July 8, 2014

World Cup tickets official arrested over illegal sales

Yahoo – AFP, Claire De Oliveira Neto, 8 July 2014

The CEO of Match Hospitality Raymond Whelan sits at a police station in
Rio de Janeiro after being arrested on July 7, 2014 (AFP Photo/Tasso Marcelo)

Rio de Janeiro (AFP) - Brazilian police have arrested a director from the FIFA partner company handling World Cup ticket packages, accusing him of leading a network that illegally sold game passes.

Ray Whelan, a director at Match Hospitality, was detained Monday at Rio de Janeiro's luxurious beachfront Copacabana Palace Hotel, a police spokesman told AFP, days after 11 people were rounded up in a raid to dismantle the network.

Local media said Whelan is a 64-year-old British citizen, but police were not immediately able to confirm that.

The arrest was made on the eve of the tournament's first semi-final game between Brazil and Germany in Belo Horizonte. Argentina and the Netherlands will face off for the final's last spot on Wednesday in Sao Paulo.

Police say the international scalping syndicate sold thousands of tickets worth millions of dollars, going back to the 2002 World Cup in Japan and South Korea.

The scandal is the latest to hit FIFA, which is already battling allegations that members accepted bribes from a Qatari football official to secure support for the emirate's campaign to get the 2022 World Cup finals.

Security personnel stand guard outside the Copacaban Palace Hotel following
the arrest of Ray Whelan, a director of Match Hospitality, a subsidary company
of FIFA, over illegal cup tickets in Rio de Janeiro on July 7, 2014 (AFP Photo/
Yasuyoshi Chiba)

One of Match Hospitality's shareholders is Swiss-based Infront Sports and Media, headed by Philippe Blatter, the nephew of FIFA president Sepp Blatter.

A French-Algerian suspect, Mohamadou Lamine Fofana, was initially thought to be responsible for the ticket scheme after he was among 11 people arrested last week in Rio and Sao Paulo.

But suspicions moved toward an individual at Match Hospitality, the official World Cup ticket agency, which sells deluxe packages that include private suites at stadiums and gourmet catering.

Authorities intercepted phone calls between Fofana and Whelan, according to the newspaper O Estado de Sao Paulo.

Tickets canceled

Match Hospitality said earlier that it had canceled the tickets bought by Fofana's company, Atlanta Sportif, for the semi-finals and the final.

The hospitality firm warned that it would cancel the remaining tickets of three other companies whose names appeared in tickets seized by police unless they cooperate with the probe.

The CEO of Match Hospitality Raymond Whelan arrives at a police station
 in Rio de Janeiro after being arrested accused of leading a network that illegal
sold game passes, on July 7, 2014 (AFP Photo/Tasso Marcelo)

Match identified the companies as Reliance Industries Limited, Jet Set Sports and Pamodzi Sports, but did not give details about the companies' ownership.

Reliance Industries bought 304 packages for 19 matches worth $1.2 million, including access to a private suite for all games in Rio, Sao Paolo and Belo Horizonte. Match Hospitality said 59 tickets seized last week had the company's name on them.

One ticket was imprinted with the name Jet Set Sports, which purchased 40 packages for two games worth $108,250. The package had been allocated to an individual who resides in Australia, Match Hospitality said, without naming the person.

Another ticket had the name Pamodzi, which secured 350 packages for 18 games -- including private suites and business seats - worth more than $1.2 million.

Byrom plc, a Manchester, England, company, has a 75 percent stake in Match Hospitality. It also owns Match Services. Both Match firms are based in Zurich and provide World Cup ticketing and hospitality services.


Ray Whelan was first arrested on Monday and released
after questioning


Monday, June 23, 2014

Asian Sides Head For Winless World Cup

Jakarta Globe  - AFP,  Jun 23, 2014

Greece’s Kostas Manolas, left, and Japan’s Shinji Kagawa jump for the ball
during their 2014 World Cup Group C soccer match at the Dunas arena in Natal
on June 19, 2014. (Reuters Photo/Toru Hanai)

Cuiaba, Brazil. Asian Football Confederation (AFC) teams are heading for their first World Cup blank in 24 years, with Japan, South Korea, Australia and Iran all failing to muster a single victory in Brazil so far.

In the latest setback, South Korea went down 4-2 to Algeria in Porto Alegre on Sunday after drawing their Group H opener against Russia — leaving them with slim hopes of making the last 16.

Japan have also disappointed, losing 2-1 to Ivory Coast in their first match in Group C and then failing to find the net against 10-man Greece in a 0-0 stalemate.

Australia lost 3-1 to Costa Rica in their opening game in Group B but can at least take heart from their spirited performance against 2010 finalists the Netherlands in a match they briefly led before losing 3-2.

Iran can hold their heads high after they battled hard against Argentina on Saturday before a stunning injury-time strike from Lionel Messi earned the South Americans a 1-0 win in the Group F fixture.

The results for the teams from the AFC spell bitter disappointment after notable progress at recent World Cups.

In Italy in 1990 neither the United Arab Emirates nor South Korea notched a win.

But at the 1994 World Cup in the United States Saudi Arabia reached the knockout phase and four years later Iran famously beat the United States in France in a group match.

At the 2002 World Cup in South Korea and Japan, South Korea stunned the football world by reaching the semi-finals while Japan made the round of 16.

Four years later in Germany it was Australia’s turn to shine, with the Socceroos reaching the knockout phase before being narrowly beaten by eventual champions Italy.

And in 2010 Japan reached the last 16 again only to go out on penalties to Paraguay.

Veteran Japan coach Alberto Zaccheroni has been left scratching his head as he searches for ways to get his toothless forward line to fire, with his side still harbouring outside hopes of qualification for the next round.

“We know that overall our play over the past four years has been far better than how we have performed here and we all understand that,” he said ahead of their match in Cuiaba on Tuesday.

Australia cannot qualify for the knockout phase after two defeats but all-time leading scorer Tim Cahill is convinced they can salvage some pride by beating dethroned world champions Spain.

“We’ve got one more game to go and it is not about Tim Cahill,” said the New York Red Bulls player, who scored a stunning goal in the team’s defeat by the Netherlands.

“This last game is massive. If we beat Spain that will be one of the biggest moments in Australian history,” added Cahill, who misses the match through suspension.

Agence France-Presse


Tuesday, June 17, 2014

Iran president leads praise for team's World Cup draw

Yahoo – AFP, 17 June 2014

Iran's team applauds at the end of their Group F match against Nigeria, at
 the Baixada Arena in Curitiba, during the FIFA World Cup, on June 16, 2014
(AFP Photo/Luis Acosta)

Tehran (AFP) - Iranian President Hassan Rouhani took to Twitter on Tuesday to praise his country's 0-0 draw with Nigeria, after a lacklustre football World Cup opener for Team Melli in Brazil.

"Proud of our boys who secured our first point -- hopefully the first of many more to come," Rouhani tweeted on his English-language account, alongside a picture of him in tracksuit bottoms and a sports shirt adorned with the national flag.

It was a rare casual image of the president, who is normally seen in a formal robe and white turban, sitting alone on a sofa watching the match on television with a glass of tea and some pistachios.

Rouhani's optimistic take on the match was at odds with supporters in Curitba, who booed Iran off the pitch after a defensive performance.

However coach Carlos Queiroz said the crowd had to be realistic about what his side could achieve.

"The spectators maybe didn't see it this way, but in football when you play with attitude, soul, emotions, tension it can also be an attractive game and that is what happened," said the former Real Madrid boss.

Iranian media also circulated pictures of Foreign Minister Mohammad Javad Zarif and his nuclear negotiating team watching the match in Vienna, where the Islamic republic is in talks with world powers.