Monday 16 January 2017

Trump, in flap with civil rights icon, meets with MLK's son

No comments

NEW YORK (AP) — Days before taking office, President-elect Donald Trump attempted to navigate the fallout of his flap with a civil rights leader and colleague of Dr. Martin Luther King Jr. while also losing a member of his incoming administration to accusations of plagiarism.
Trump on Monday met with one of King's sons on the holiday marking the life of the slain American icon just days after the president-elect attacked Rep. John Lewis on Twitter. Lewis and the elder King were among the Big Six leaders of the civil rights movement of the 1960s.
Trump accused Lewis, D-Ga., for being "all talk" after Lewis questioned the legitimacy of Trump's election. The president-elect also advised the veteran congressman to pay more attention to his "crime ridden" Atlanta-area district. Trump's comments drew widespread criticism and have done little to reassure those uneasy about the transition from the nation's first black president to a president-elect still struggling to connect with most nonwhite voters.
Martin Luther King III downplayed the slight, saying that "in the heat of emotion a lot of things get said on both sides." King, who said he pressed Trump on the need for voting reform to increase participation, deemed the meeting "constructive." King said that while he disagreed with the president-elect's comments, he believed "at some point in this nation we've got to move forward."
"He said that he is going to represent all Americans. He said that over and over again," King told reporters in the lobby of Trump Tower after the nearly hourlong meeting. "I believe that's his intent, but I think we also have to consistently engage with pressure, public pressure. It doesn't happen automatically."
Trump, who struggled for support from minority voters on Election Day, briefly joined King in the lobby but ignored reporters' shouted questions about his comments about Lewis.
Lewis had suggested that Trump's November victory was delegitimized due to Russian interference and said he would boycott Friday's Inauguration. More than two dozen Democratic members of Congress have said they will sit out the Trump ceremony. Among them is Tennessee Rep. Steve Cohen, who said Monday that "this president 'semi-elect' does not deserve to be president of the United States. He has not exhibited the characteristics or the values that we hold dear."
The Martin Luther King holiday is meant to honor community service and volunteerism, and many Americans, including President Barack Obama, spend part of the day doing a service project of some kind. Trump, who cancelled a planned trip to Washington, spent the day inside the Manhattan skyscraper that bears his name.
Meanwhile, conservative media commentator Monica Crowley will not be joining the Trump administration following accusations of plagiarism, according to a transition official.
Crowley, a frequent on-air presence at Fox News Channel, had been slated to join Trump's National Security Council as a director of strategic communications. On Monday, she withdrew her name from consideration after CNN reported last week that several passages in a 2012 book Crowley wrote were plagiarized. Publisher HarperCollins then pulled the book.
Crowley's retreat was first reported by The Washington Times. The transition official confirmed the decision on the condition of anonymity because the official was not authorized to speak publicly about the matter.
Trump has continued to lash out at his critics in the intelligence community and questioned whether the CIA director himself was "the leaker of fake news" in a Sunday night tweet.
The extraordinary criticism from the incoming president came hours after CIA chief John Brennan charged that Trump lacks a full understanding of the threat Moscow poses to the United States, delivering a public lecture to the president-elect that further highlighted the bitter state of Trump's relations with American intelligence agencies.
"Now that he's going to have an opportunity to do something for our national security as opposed to talking and tweeting, he's going to have tremendous responsibility to make sure that U.S. and national security interests are protected," Brennan said on "Fox News Sunday," warning that the president-elect's impulsivity could be dangerous.
Trump shot back in a Twitter post Sunday, saying: "Oh really, couldn't do much worse - just look at Syria (red line), Crimea, Ukraine and the buildup of Russian nukes. Not good! Was this the leaker of Fake News?"
Additionally, European Union nations bracing for Trump's ascension showed defiance Monday in the face of the president-elect's stinging comments on everything from NATO and German cars to the crumbling of the EU itself.
German Foreign Minister Frank-Walter Steinmeier said the U.S. president-elect's view that NATO was obsolete and his criticism that European allied members aren't paying their fair share had "caused astonishment."
Trump also said Britain's decision to leave the 28-nation European Union would "end up being a great thing," and he predicted that other countries would also leave.At a meeting of EU ministers, French Foreign Minister Jean-Marc Ayrault said the best response to such comments was simple — "it is the unity of the Europeans."
In Berlin, German Chancellor Angela Merkel insisted: "We Europeans have our fate in our own hands."AP

King Day highlights transition from Obama to Trump

No comments
Trump meets King's eldest son on civil rights holidayATLANTA (AP) — As Americans celebrate the legacy of Martin Luther King Jr., civil rights leaders and activists are trying to reconcile the transition from the nation's first black president to a president-elect still struggling to connect with most non-white voters.
In more than one venue Monday, speakers and attendees expressed reservations about President-elect Donald Trump and his incoming administration, some even raising the specter of the Ku Klux Klan.
"When men no better than Klansmen dressed in suits are being sworn in to office, we cannot be silent," said Opal Tometi, a Black Lives Matter co-founder, told a crowd in Brooklyn.
King's daughter offered a less direct message, encouraging 2,000 people at her father's Atlanta church to work for his vision of love and justice "no matter who is in the White House."
Bernice King spoke at Ebenezer Baptist hours before her brother, Martin Luther King III, met privately with the president-elect at Trump Tower in New York. The younger King described the meeting as "productive."
Trump won fewer than 1 out of 10 black voters in November after a campaign of racially charged rhetoric, and tensions have flared anew with his recent criticism of civil rights icon John Lewis, whom the president-elect called "all talk" and "no action."
Bernice King avoided a detailed critique of Trump, but said the nation has a choice between "chaos and community," a dichotomy her father preached about. "At the end of the day, the Donald Trumps come and go," she said, later adding, "We still have to find a way to create ... the beloved community."
The current Ebenezer pastor, the Rev. Raphael Warnock, did not call Trump by name, but praised his predecessor. "Thank you, Barack Obama," he said. "I'm sad to see you go."
In South Carolina, speakers at a state Capitol rally said minority voting power has never been more important and some attendees expressed unease about Trump joining forces with Republican congressional majorities.
"It's going to be different, that's for sure," said Diamond Moore, a Benedict College senior who came to the Capitol. "I'm going to give Trump a chance. But I'm also ready to march."
In New York, Martin Luther King III told reporters that Trump pledged to be a president for all Americans, but King III added "we also have to consistently engage with pressure, public pressure" because "it doesn't happen automatically."
Trump did not participate publicly in any Martin Luther King Jr. Day observances. President Barack Obama and Michelle Obama took part in a service project at a shelter in Washington.
Back in Atlanta, Sen. Bernie Sanders brought the Ebenezer assembly to its feet with his reminder that King was not just an advocate for racial equality, but a radical proponent for economic justice — a mission that put him at odds with the political establishment.
"If you think governors and senators and mayors were standing up and saying what a great man Dr. King was, read history, because you are sorely mistaken," roared Sanders, who invoked the same themes from his failed presidential campaign.
Sanders, who struggled to attract black voters in his Democratic primary fight with Hillary Clinton, recalled King opposing the Vietnam War as exploiting the poor. He also noted King was assassinated in Memphis, Tennessee, where he'd gone to rally striking sanitation workers, white and black.
Activist priest Michael Pfleger, himself a self-described radical, built on Sanders' message with a 45-minute keynote message indicting the nation's social and economic order, which he said would get worse under Trump.The Chicago priest said "white hoods" of the Klan "have been replaced by three-piece suits." He bemoaned high incarceration rates, a "militarized, stop-and-frisk police state," profligate spending on war and a substandard education system.
Pfleger said many Americans too quickly dismiss violence in poor neighborhoods as the fault of those who live there, when the real culprit is a lack of opportunity and hope. "If you put two lions in a cage and you don't feed them," he said, "one will kill the other in the pursuit of survival."
Warnock, meanwhile, zeroed in on Trump for his treatment of Lewis, now a Georgia congressman who represents most of Atlanta.
Lewis angered Trump when he told NBC's "Meet the Press" that he views Trump as "illegitimate" because of alleged Russian interference in the campaign. Trump retorted on Twitter that Lewis is "all talk" and said his district is "falling apart" and "crime infested."Anybody who suggests that John Lewis is all talk and no action needs a lesson in American history," Warnock said, notably declining to say the president-elect's name.
As a young man, Lewis was arrested and beaten by authorities as he demonstrated for civil and voting rights for black Americans.
Lewis was in Miami at King Day events.
Some Republicans have defended Trump's criticism of Lewis, arguing it is inappropriate for a congressman to question an incoming president's legitimacy.
Clara Smith, an Atlanta resident who came Monday to Ebenezer, scoffed at any GOP indignation, remembering that Trump for years questioned whether Obama was a "natural born citizen" as the Constitution requires.
"He carried on with that knowing full well what he was doing" to the first black president, Smith, 66, said.
Elsewhere, residents in Memphis are honoring King with neighborhood clean-up events and a daylong celebration at the National Civil Rights Museum.Bicyclists in Detroit have marked the day by pedaling to sites connected to a historic visit King made to the city.
___AP

Shakira calls for more early childhood education

No comments
Colombian singer and 'Crystal Award' winner Shakira speaks during the 'Crystal Awards' ceremony on the eve of to the World Economic Forum in Davos, Switzerland, Monday, Jan. 16, 2017. (Laurent Gillieron/Keystone via AP)
DAVOS, Switzerland (AP) — The latest on the World Economic Forum's annual meeting in the Swiss ski resort of Davos (all times local):
12:15 a.m.
Shakira is suggesting an antidote for violent conflict and divisive populism: Get more kids in pre-school.
The Colombian singer is using her distinctive voice to lobby the world's rich and powerful at the World Economic Forum in Davos for more spending on early childhood education.
Asked if she had a message for U.S. President-elect Donald Trump, she urged solid education policies that instill "inclusiveness and tolerance" for future generations.
Recalling a childhood in Colombia marred by war, she said: "If we really want peace, we need to invest in education."
Shakira and actor Forest Whitaker were given special awards at Davos on Wednesday for their humanitarian work.Whitaker noted that his charity work in societies emerging from conflict requires coordination with governments of different stripes, and he stressed the importance of grassroots activity.
___
7:45 p.m.
There's no chance that Klaus Schwab, the founder of the elite political and business gathering in Davos, will undersell the importance of the World Economic Forum.
Addressing delegates Monday in the Swiss ski resort, Schwab said this year's 47th WEF is taking place at an "extraordinary moment of history," when a "sometimes-disruptive transformation" partly related to technological advances is hitting businesses and societies.
Acknowledging a growing pessimism around the world, Schwab urged delegates to look to the future in a "self-confident way," to repair deficiencies in the capitalist system and to think in the long term.
Schwab also noted that one-third of those at this year's meeting are from the emerging world, including the largest-ever delegations from China and India.
The forum officially starts Tuesday. Chinese President Xi Jinping arrived Monday by train to a red carpet welcome.
___
7:15 p.m.
U.S. Vice President Joe Biden says his "prayer" is that the incoming Trump administration will continue to support the fight against cancer, which kept Biden from running for president after it took the life of his son, Beau.
Biden was speaking Monday before the start of the World Economic Forum in Davos to promote his "Cancer Moonshot" initiative. He hailed bipartisan support in Congress for a bill that brought in $1.8 billion for additional research at the National Cancer Institute.
Biden said he had spoken with Vice President-elect Mike Pence about his willingness to work with the new Trump administration to help it be as "committed and enthusiastic as we are in the goal of ending cancer."He urged other countries to also invest in the fight against cancer and called for greater collaboration among researchers, health care providers and drug firms.
___
6:30 p.m.
CEOs are increasingly confident about the near-term prospects of their companies despite an array of worries that includes mounting concerns over a lurch toward trade protectionism.
That's the finding from an annual survey of CEOs by global accounting and consulting firm PwC ahead of the World Economic Forum.
The survey found that 38 percent of CEOs are very confident about their company's growth prospects in the next 12 months, against 35 percent last year. Meanwhile, 29 percent of respondents believe global economic growth will pick up in 2017, up from 27 percent last year.
Bob Moritz, PwC's chairman, says one worry that has swelled over the past few months is protectionism. Fears that the era of globalization may go into reverse have been stoked by Britain's vote to leave the European Union and Donald Trump's election as U.S. president.
PwC's survey was based on 1,379 interviews across 79 countries between Sept. 26 and Dec. 5, with the majority conducted online.
___
5:45 p.m.
The chairman of global accounting and consulting firm PwC doubts that many companies will leave Britain after the country exits the European Union.
Speaking to The Associated Press in the Swiss ski resort of Davos ahead of Tuesday's official start to the World Economic Forum, Bob Moritz said he hadn't seen any institutions leave and that he doesn't expect them to do so "anytime soon."
However, Moritz says his firm is advising its many clients to be "thoughtful" and to engage in "scenario planning."
British Prime Minister Theresa May is due to outline her vision of Britain's post-EU future on Tuesday.
The British pound fell around 1 percent Monday on worries that May will make it clear that her government is prepared to leave the EU's single market, which guarantees no tariffs on goods and services, during the upcoming Brexit discussions. That's prompted speculation that firms will ditch Britain in favor of a base within the single market.
___
5:15 p.m.
For 51 weeks of the year, the Swiss village of Davos is much like other Alpine ski resorts - fairly low profile. But around the annual World Economic Forum, it turns into something more akin to a fortress.
Checkpoints, roadblocks, airspace restrictions and armed forces are put in place to provide security to the visiting business and political leaders.
Swiss authorities say the extra security cost for this year's gathering, which officially begins Tuesday, is around 9 million Swiss francs ($9 million) as of late November. That's split between various parties, including the central government and the WEF itself.
The cost of deploying troops at this event is said to be similar to that of a regular training for battalions. In previous years, it has cost an average of 28 million Swiss francs per meeting.
The Federal Council, Switzerland's executive branch, considers the WEF "an exceptional event," providing "a unique opportunity" to bolster relations with leading figures.
___
1:30 p.m.
The World Economic Forum, which organizes the annual gathering of the global political and business elites in the Swiss ski resort of Davos, says the focus on economic growth, which has guided policymaking for decades, is no longer fit for purpose.
In a report published Monday, the WEF proposed a shift in policymaking to "respond more effectively to the insecurity and inequality accompanying technological change and globalization."The WEF's main recommendation is that governments make improving living standards one of their key goals.
It says most countries are "missing important opportunities to raise economic growth and reduce inequality at the same time," adding that measurements such as life expectancy, productivity and poverty rates should be priorities.
Under a new ranking system that incorporates so-called "inclusive development," the WEF rated Norway top, followed by Luxembourg and Switzerland.
The issue of inequalities both within countries and across the world is a key focus of this year's WEF, which officially opens Tuesday.AFP

Eugene Cernan, last man to walk on moon, dead at 82

1 comment
Astronaut Eugene A. Cernan, mission commander, walking toward the Lunar Roving Vehicle during extravehicular activity at the Taurus-Littrow landing site of NASA's sixth and final Apollo lunar landing mission in 1972
Astronaut Eugene A. Cernan, mission commander, walking toward the Lunar Roving Vehicle during extravehicular activity at the Taurus-Littrow landing site of NASA's sixth and final Apollo lunar landing mission in 1972
US astronaut Eugene Cernan, the last man to set foot on the moon, died Monday at age 82, NASA and his family announced.
Cernan was the spacecraft commander of Apollo 17 -- his third space flight and the last scheduled US manned mission to the moon -- in December 1972.
"We are saddened by the loss of retired NASA astronaut Gene Cernan, the last man to walk on the moon," the US space agency said on Twitter.
According to a family statement released by NASA, Cernan, a retired naval officer, died following ongoing health issues.
"It is with very deep sadness that we share the loss of our beloved husband and father," the family said."Our family is heartbroken, of course, and we truly appreciate everyone's thoughts and prayers. Gene, as he was known by so many, was a loving husband, father, grandfather, brother and friend," the statement added.
"Even at the age of 82, Gene was passionate about sharing his desire to see the continued human exploration of space and encouraged our nation's leaders and young people to not let him remain the last man to walk on the moon."
- 'Ad Astra' -
The space community quickly took to Twitter to pay tribute to Cernan and honor his legacy.
"Saddened by the loss of pioneer, fellow naval aviator, astronaut and friend Gene Cernan #RIP #lastmanonthemoon," said retired American astronaut Scott Kelly.
"Ad Astra, Gene," tweeted NASA's Kennedy Space Center, using a Latin phrase meaning "to the stars."
"We mourn the loss of our friend Gene Cernan, the Last Man on the Moon and a hero for the ages," said the Smithsonian National Air and Space Museum. "Godspeed the Commander of Apollo 17."
On what would be the last manned mission to the lunar surface, Cernan's second to the moon, the crew captured the iconic image of a full view of the planet Earth dubbed "Blue Marble."
"Everything's three dimension when you look back at the Earth in all its splendor, in all its glory, multicolors of the blues of the oceans and whites of the snow and the clouds," the astronaut said of his final mission, in a 2007 interview with NASA.
The footprints Cernan left on the moon's surface remain visible more than four decades later.
"I'd just like to record that America's challenge of today has forged man's destiny of tomorrow," he said as he left the moon for the final  time'Bold ambitions' -
Born in Chicago in 1934, Cernan received a degree in electrical engineering from Indiana's Purdue University in 1956.
He went on to earn a master's degree in aeronautical engineering from the US Naval Postgraduate School in California.
Cernan was one of a class of 14 astronauts chosen to join NASA in 1963, and went on to serve on both Gemini and Apollo missions.
He has spent 566 hours and 15 minutes in space -- logging more than 73 hours on the moon's surface.
Cernan retired from the Navy and NASA in 1976. He later entered the private business sector and provided television commentary during early space shuttle flights.
"The Last Man on the Moon" -- a documentary about his life -- was released in 2016.
The moonwalker's death comes one month after that of another space legend -- John Glenn, the first American to orbit the Earth.In December, Glenn was the last of the first seven US astronauts who led the nascent 1959 US space program to pass away.
Cernan's death marks the latest from a generation of space pioneers whose ranks are dwindling.
"Truly, America has lost a patriot and pioneer who helped shape our country's bold ambitions to do things that humankind has never before achieved," said NASA administrator Charles Bolden of Cernan's death.
Cernan is survived by his wife Jan, one daughter, two step-daughters and nine grandchildren, the family said.AFP

FBI arrests widow of Orlando nightclub shooter

No comments


WASHINGTON (AP) — The wife of the Orlando nightclub shooter, who was extensively questioned by federal agents in the days after the massacre, has been arrested by the FBI in connection with the attack, authorities said Monday.
Noor Salman was taken into custody Monday morning in the San Francisco Bay area and is facing charges in Florida including obstruction of justice. A Twitter post from the United States attorney's office in Orlando said Salman will make her initial court appearance Tuesday morning in Oakland, California.
Noor Salman moved to California after her husband, Omar Mateen, was killed in a shootout with SWAT team members during the June 12massacre at the Pulse nightclub in Orlando.
FBI agents repeatedly questioned Salman in the aftermath of the shooting about whether she had advance knowledge of her husband's plans. Salman told The New York Times in an interview published last fall that she knew her husband had watched jihadist videos but that she was "unaware of everything" regarding his intent to shoot up the club. She also said he had physically abused her.
"Noor Salman had no foreknowledge nor could she predict what Omar Mateen intended to do that tragic night," her attorney, Linda Moreno, said in a statement.
"Noor has told her story of abuse at his hands. We believe it is misguided and wrong to prosecute her and that it dishonors the memories of the victims to punish an innocent person," Moreno said.
Mateen was the only shooter, and by the time a three-hour standoff with law enforcement had ended, 49 patrons were killed and another 53 people required hospitalization.
Mateen pledged allegiance to the Islamic State group in a 911 call to emergency officials during the standoff. He also made a series of Facebook posts and searches before and during the attack.Salman, who grew up northeast of San Francisco, wed Mateen in 2011 after the two met online. They lived in Fort Pierce, Florida, at the time of the shooting. Last month, Salman filed a petition in a California court to change the name of the son she had with Mateen.
"We said from the beginning, we were going to look at every aspect of this, of every aspect of this shooter's life to determine not just why did he take these actions — but who else knew about them? Was anyone else involved?" Attorney General Loretta Lynch said in an MSNBC interview on Monday.
The Times first reported on the arrest.
Orlando Police Chief John Mina said in a statement that Salman was facing accusations of obstruction of justice and "aiding and abetting by providing material support to a foreign terrorist organization."
"Nothing can erase the pain we all feel about the senseless and brutal murders of 49 of our neighbors, friends, family members and loved ones," Mina said. "But today, there is some relief in knowing that someone will be held accountable for that horrific crime."Florida Gov. Rick Scott said he hoped the arrest "provides some comfort to the families who are mourning their loved ones," he added.
___AP

Wednesday 4 January 2017

Trump doubtful as Trump doubtful as US spy chiefs to testify on Russian hackingUS spy chiefs to testify on Russian hacking of fresh bitcoins. The currency was always meant to have a finite number created, and more than three quarters of the planned 21 million bitcoins have already been 'mined'. Encrypted digital coins are created by supercomputers and then traded online or exchanged for goods and services. Vinny Lingham, a bitcoin expert and CEO of US digital identity protection startup Civic, cited the strengthening dollar and uncertainty in emerging markets around US President-elect Donald Trump as boosting the currency's value. He has predicted bitcoin will be worth about $3,000 by the end of 2017. "Bitcoin is reacting as a safe haven," he said. Bitcoin now has a total market capitalisation of about $18 billion -- far more than other so-called "crypto-currencies" although a fraction of the value of other globally traded commodities.

No comments
Trump doubtful as US spy chiefs to testify on Russian hacking
Top US spy chiefs will testify in Congress Thursday on alleged Russian interference in the US election as President-elect Donald Trump continued to question intelligence that Moscow was behind the hacking of Democratic party computers.
The American public could get a better idea of the strength of the evidence on the alleged hacking as the Senate Armed Services Committee holds a hearing led by strong Russia critic John McCain, who on Wednesday called Moscow's actions to subvert the US presidential vote an "act of war."
Director of National Intelligence James Clapper and National Security Agency Director Michael Rogers are due to testify amid a heated rift between Trump and the intelligence bodies he will rely upon for crucial advice when he become president on January 20.
In tweets this week, Trump ridiculed the CIA and FBI conclusions, which are supported by outgoing President Barack Obama, that hackers working at the bidding of the Russian government stole embarrassing Democratic Party documents from the party's computers and leaked the via WikiLeaks to undermine the presidential campaign of Trump rival Hillary Clinton.Referring to a planned presentation to him by intelligence chiefs, Trump tweeted: "The 'Intelligence' briefing on so-called 'Russian hacking' was delayed until Friday, perhaps more time needed to build a case. Very strange!"
He then added to the insult by citing WikiLeaks founder Julian Assange in his dismissal of the findings of multiple US agencies that Russia was behind the hacking.
"Julian Assange said 'a 14 year old could have hacked Podesta' - why was DNC so careless?" Trump said, referring to the thousands of emails and documents robbed from the computers of the Democratic National Committee and from Clinton campaign chief John Podesta.
- Intel agency shakeup looming? -Trump's taunts have boosted pressure on the White House, the Central Intelligence Agency, the Federal Bureau of Investigation and the Director of National Intelligence to back up their claims last month that the Russian government was behind the hacking, intentionally divulging the documents via WikiLeaks to disrupt the election and help Trump.
The intelligence chiefs and Obama have pointed the finger at Russian President Vladimir Putin, saying no such operation could go on in Moscow without the highest level of approval.
On December 29, Obama retaliated, expelling 35 Russian "intelligence operatives," placing sanctions on Russian government officials and intelligence services, and alleged hackers.
But the evidence made public by the agencies remains thin, allowing Trump, who has made clear he wants to improve fraught relations with Russia, to mount a challenge to the US intelligence establishment.
The Wall Street Journal reported late Wednesday that Trump is already working on a plan to restructure the Office of the Director of National Intelligence, which Trump believes "has become bloated and politicized," the Journal reported, citing people official with the planning.The plan could also include revamping the CIA, cutting back its headquarters staff while boosting deployment of agents in the field, the Journal said.
- Trump rebuffed -
Trump will be briefed Friday by the heads of the CIA, FBI and DNI on the evidence behind their conclusion on Russia election interference. And a declassified version of a White House report on the case is expected to be released next week.
But he meanwhile rankled officials in both political parties and angered the intelligence community by his choice of Assange as a reference for his views.
In a radio interview Wednesday, Republican House Speaker Paul Ryan branded Assange "a sycophant for Russia."
"He leaks, he steals data, and compromises national security."
Democratic Senator Mark Warner said Trump showed "frankly flabbergasting" disrespect for the intelligence officials.I think the most important thing the intelligence community can always do is speak truth to power," he told MSNBC.
"And it seems like perhaps the president-elect doesn't  want hear that truths  AFP,

Bitcoin nears record high as it becomes 'safe haven' asset

No comments
Bitcoin nears record high as it becomes 'safe haven' assetBitcoin neared record highs Thursday with the surging digital currency tipped to become a new safe haven asset as the world grapples with growing economic uncertainty.
The unit broke the $1,100 barrier on the Bitcoin Price Index, an average of major exchanges, to continue a dizzying rise that made it the best performing currency of 2016.
It has fluctuated wildly since it was created in 2009 and lost three quarters of its value when it plummeted from its previous BPI high of $1,165.89 in 2013.
And news of a major bitcoin theft by hackers in August sent its price plunging by more than 20 percent.
But analysts say its volatility will ease as volumes grow and point to a strengthening US dollar and tightening currency and capital controls, as well as the rise of the digital economy, as major factors.
The chaotic withdrawal of high value bills in India and restrictions on buying foreign currency in China as the yuan slides against the dollar have also stoked demand, analysts say.Exacerbating the rocketing demand is a tightening supply of fresh bitcoins.
The currency was always meant to have a finite number created, and more than three quarters of the planned 21 million bitcoins have already been 'mined'.
Encrypted digital coins are created by supercomputers and then traded online or exchanged for goods and services.
Vinny Lingham, a bitcoin expert and CEO of US digital identity protection startup Civic, cited the strengthening dollar and uncertainty in emerging markets around US President-elect Donald Trump as boosting the currency's value. He has predicted bitcoin will be worth about $3,000 by the end of 2017.
"Bitcoin is reacting as a safe haven," he said.
Bitcoin now has a total market capitalisation of about $18 billion -- far more than other so-called "crypto-currencies" although a fraction of the value of other globally traded commodities.AFP

Looting erupts amid protests over Mexico gas price hike

No comments
Looting erupts amid protests over Mexico gas price hikeMexicans have blocked service stations, disrupted highway traffic and held protests since the government increased fuel prices by 20.1 percent on January 1



Looting broke out at several stores in Mexico on the sidelines of protests against a gasoline price increase as authorities detained dozens of people.
Mexicans have blocked service stations, disrupted highway traffic and held protests since the government increased fuel prices by 20.1 percent on January 1.
But acts of vandalism and looting erupted, prompting Interior Minister Miguel Angel Osorio Chong to instruct the National Security Commission to support local authorities.
The government of the State of Mexico, which surrounds the capital, said in a statement that 161 people were detained for "various acts of vandalism and thefts at shops" in six municipalities.
The statement said "some groups of people have seized on the situation to commit thefts and acts of vandalism under the pretext of protesting the liberalization of the price of gasoline."
In Mexico City, around 20 people were detained after some shops were looted, the local government's secretary general, Patricia Mercado, told Radio Formula.Some shops closed in the afternoon, though Mercado said "there's no need for that" as she vowed to police would prevent further vandalism.
Federal police reported around 20 new protests and roadblocks in various parts of the country on Wednesday.
President Enrique Pena Nieto defended the price increase, saying it was necessary due to a rise in global oil prices.
"I understand the irritation and anger among the population in general," he said, arguing that not increasing the prices would have been more painful for the economy.
The government says the increase is a necessary first step before prices go down when it lets the market dictate how much drivers will pay in March as part of a sweeping energy reform.  AFP

Tuesday 3 January 2017

With tourists scarce, Egypt struggles to maintain heritage

No comments
A picture taken on December 27, 2016, shows the courtyard of a house in the historic village of Al-Qasr in the al-Dakhilah Oasis, some 560km west of Cairo
A picture taken on December 27, 2016, shows the courtyard of a house in the historic village of Al-Qasr in the al-Dakhilah Oasis, some 560km west of Cairo
With a shaky economy following years of unrest and a huge drop in tourists, Egypt is struggling to preserve its fabled archaeological heritage.
From Alexandria on the Mediterranean to the Great Pyramid of Giza -- the last of the Seven Wonders of the World -- and Aswan to the south, the North African country is home to impressive ancient monuments.
For years, the sites were able to rely on a steady stream of ticket sales to finance their upkeep.
But since Egypt's 2011 revolution, the number of tourists visiting the country has dwindled, leaving authorities scrambling to make up for lost revenues.Since January 2011, our revenues have fallen sharply, which had a strong effect on the state of Egyptian monuments," Antiquities Minister Khaled el-Enany told AFP.
From more than 15 million in 2010, the number of tourists visiting Egypt dropped to 6.3 million in 2015.
Years of political tumult after the 2011 uprising that unseated strongman Hosni Mubarak and a jihadist insurgency following the army's 2013 overthrow of his Islamist successor Mohamed Morsi have discouraged many from visiting.
Revenue from entrance tickets to historical sites dropped to about $38 million in 2015, from about $220 million in 2010.
"It's catastrophic," said Fayza Haikal, an Egyptologist and professor at the American University of Cairo.
Zahi Hawass, an archeologist and former antiquities minister, said the country's heritage has suffered as a result.
"With the lack of funding, you cannot restore anything. Look at the Cairo museum. It's dark," he said, referring to the famed Egyptian Museum in the capital's Tahrir Square.
- 'Antiquities deteriorating' -
"And you cannot ask the government to support you because the economy is not that good. And antiquities are deteriorating everywhere," he said.
Administering the country's antiquities takes about 38,000 employees, including on-site workers, technicians, Egyptologists and inspectors, the ministry says.The government has relied on foreign handouts since Morsi's overthrow, and finally decided to float the pound last year as part of an economic reform program connected to a loan from the International Monetary Fund.
An important part of an economic revival would include the return of tourism, a main hard currency earner for Egypt.
Until then, Enany is trying to limit the damage.
"I try to do extra activities to increase revenue," he said.
For example, the Egyptian Museum, home to the golden mask of Tutankhamun and mummies of pharaohs, now stays open into the night, he said.
Annual passes are also available to encourage Egyptians to visit the sites.Patrons and archaeological missions still contribute to the preservation of Egypt's ancient heritage, but the funds cannot cover everything.
"Priority is given to restoration," said Haikal. "But there are excavations that have been stopped due to lack of funding."
The excavations "have waited for 5,000 years and can wait," she said, but important restoration work has also been delayed.
"At the very least we identify what needs restoration, and we do the minimum to keep them in a proper state."
Enany is also pushing for granting public access to more sites, as was done with the recently opened tombs of Nefertari and Seti I in Luxor.
The Malawi museum in the southern province of Minya has also been reopened, after a mob looted it during the bloody unrest following Morsi's overthrow.
The Grand Egyptian Museum near the Giza pyramids should also be opened, at least partially, in 2018.
On some projects, the ministry can get special funds, such as for recent work done on the synagogue of Alexandria and the Abu Mena church, a UNESCO World Heritage site.
Hawass, who advises Enany, says the minister needs more support and also for authorities to think beyond Egypt by undertaking exhibitions abroad.Why leave Tutankhamun in the Cairo museum, in a dark area. No one sees it," he said. "Tutankhamun can bring money! AFP