Germany defends ’dual-use’ chemical exports to Syria

Berlin: The German government Wednesday defended granting permits around a decade ago for exports to Syria of chemicals that can be used to make deadly sarin gas. 

The economy ministry said the export licences were granted between 2002 and 2006 for shipments totalling more than 100 tonnes of chemicals for both military and civilian use. 

They received the green light after "careful examination of all possible risks, including abuse and diversion threats in view of their possible uses in connection with chemical weapons", the ministry said. 

Ministry sources said the chemicals were "classic dual-use" products that could also be used in the surface treatment of metals, fluorination of drinking water and the manufacture of toothpaste. 

UN chemical weapons inspectors reported this week that banned chemical weapons were used on a large scale in the Syrian civil war, and that evidence showed sarin gas killed hundreds in an opposition-held area near Damascus on August 21. 

The UN report did not say who used the sarin gas, though the Syrian opposition and its allies have blamed President Bashar al-Assad's troops. The United States claims more than 1,400 people died in the attack and has threatened to attack Assad's regime. 

The German ministry conceded that chemicals that could potentially be used to make sarin had been exported, responding to a question in parliament by the far-left Linke opposition party. 

"In all these cases a plausible case was made for their civilian use," the ministry said. "The evaluation of all the available information before the permits were issued led to no evidence of military use that would have justified a refusal of the permission." 

It added that the "government has no information to suggest the delivered goods have since then been used for anything other than the stated civilian purposes." 

Linke party lawmaker Jan van Aken suggested that the government had been grossly irresponsible. "I really can't believe it," he told ARD public television. "Germany over many years delivered more than 111 tons of chemicals with which one can produce sarin to Syria, a country known to be operating a chemical weapons programme." 

The military threat against Syria's regime has eased after Russia and the United States agreed on a plan to put Syrian chemical arms under international control. 

Germany defends ’dual-use’ chemical exports to Syria

Berlin: The German government Wednesday defended granting permits around a decade ago for exports to Syria of chemicals that can be used to make deadly sarin gas. 

The economy ministry said the export licences were granted between 2002 and 2006 for shipments totalling more than 100 tonnes of chemicals for both military and civilian use. 

They received the green light after "careful examination of all possible risks, including abuse and diversion threats in view of their possible uses in connection with chemical weapons", the ministry said. 

Ministry sources said the chemicals were "classic dual-use" products that could also be used in the surface treatment of metals, fluorination of drinking water and the manufacture of toothpaste. 

UN chemical weapons inspectors reported this week that banned chemical weapons were used on a large scale in the Syrian civil war, and that evidence showed sarin gas killed hundreds in an opposition-held area near Damascus on August 21. 

The UN report did not say who used the sarin gas, though the Syrian opposition and its allies have blamed President Bashar al-Assad's troops. The United States claims more than 1,400 people died in the attack and has threatened to attack Assad's regime. 

The German ministry conceded that chemicals that could potentially be used to make sarin had been exported, responding to a question in parliament by the far-left Linke opposition party. 

"In all these cases a plausible case was made for their civilian use," the ministry said. "The evaluation of all the available information before the permits were issued led to no evidence of military use that would have justified a refusal of the permission." 

It added that the "government has no information to suggest the delivered goods have since then been used for anything other than the stated civilian purposes." 

Linke party lawmaker Jan van Aken suggested that the government had been grossly irresponsible. "I really can't believe it," he told ARD public television. "Germany over many years delivered more than 111 tons of chemicals with which one can produce sarin to Syria, a country known to be operating a chemical weapons programme." 

The military threat against Syria's regime has eased after Russia and the United States agreed on a plan to put Syrian chemical arms under international control. 

Rupee at 61.80 vs USD

Mumbai: The rupee today zoomed by 158 paise to trade at over one-month high of 61.80 against the dollar at the Interbank Foreign Exchange market on hopes of increased capital inflows after the US Federal Reserve's surprise decision to keep its stimulus programme intact. 

The rupee had settled just a paise lower at 63.38 against the dollar in yesterday's trade. 

Traders said besides expectations of increased capital inflows, the dollar's weakness against other currencies overseas, after the US Federal Reserve surprised markets by leaving its massive bond-buying programme unchanged, boosted the rupee's sentiment. 

Rupee at 61.80 vs USD

Mumbai: The rupee today zoomed by 158 paise to trade at over one-month high of 61.80 against the dollar at the Interbank Foreign Exchange market on hopes of increased capital inflows after the US Federal Reserve's surprise decision to keep its stimulus programme intact. 

The rupee had settled just a paise lower at 63.38 against the dollar in yesterday's trade. 

Traders said besides expectations of increased capital inflows, the dollar's weakness against other currencies overseas, after the US Federal Reserve surprised markets by leaving its massive bond-buying programme unchanged, boosted the rupee's sentiment. 

Veliyam Bhargavan to be cremated today

Veliyam Bhargavan (file photo)

Thiruvananthapuram: Veliyam Bhargavan, veteran CPI leader, is to be cremated today at 4 pm with all official honours at  Shanthi Kavadam in Thiruvananthapuram. Veliyam Bhargavan's body, which was kept at his residence at Pattom in the city, was taken to M N  Smarakam, the state headquarters of CPI, at 8 am. The body will be kept for there for public viewing till 3.30 pm and cremated with official honours at 4 pm.  He died here on Wednesday at 1.00 pm at the Thiruvananthapuram Medical College

Veliyam Bhargavan to be cremated today

Veliyam Bhargavan (file photo)

Thiruvananthapuram: Veliyam Bhargavan, veteran CPI leader, is to be cremated today at 4 pm with all official honours at  Shanthi Kavadam in Thiruvananthapuram. Veliyam Bhargavan's body, which was kept at his residence at Pattom in the city, was taken to M N  Smarakam, the state headquarters of CPI, at 8 am. The body will be kept for there for public viewing till 3.30 pm and cremated with official honours at 4 pm.  He died here on Wednesday at 1.00 pm at the Thiruvananthapuram Medical College

Muslim Brotherhood’s spokesperson held in Cairo

Cairo: A spokesperson of former president Muhammed Morsi's Muslim Brotherhood party was arrested here Tuesday along with two other party members. He is facing charges of inciting violence and murdering protesters. 

Gehad El-Haddad, who is facing charges of inciting violence and murdering protesters, has been the main figure who was in touch with the foreign media before Morsi was ousted. He was detained in an apartment in Nasr City, Xinhua reported.  His father Essam El-Haddad, former presidential advisor on foreign affairs, has been imprisoned incommunicado along with Morsi after he was overthrown on July 3 by the military in the wake of nationwide protests. Another two Brotherhood officials, Morsi-era governor of Qalyoubia province Hossam Abu El-Bakr and Mahamoud Abu Zeid, a member of the group's executive board, were detained along with El- Haddad. (IANS)

Muslim Brotherhood’s spokesperson held in Cairo

Cairo: A spokesperson of former president Muhammed Morsi's Muslim Brotherhood party was arrested here Tuesday along with two other party members. He is facing charges of inciting violence and murdering protesters. 

Gehad El-Haddad, who is facing charges of inciting violence and murdering protesters, has been the main figure who was in touch with the foreign media before Morsi was ousted. He was detained in an apartment in Nasr City, Xinhua reported.  His father Essam El-Haddad, former presidential advisor on foreign affairs, has been imprisoned incommunicado along with Morsi after he was overthrown on July 3 by the military in the wake of nationwide protests. Another two Brotherhood officials, Morsi-era governor of Qalyoubia province Hossam Abu El-Bakr and Mahamoud Abu Zeid, a member of the group's executive board, were detained along with El- Haddad. (IANS)

Funding for lending' scheme in works to make home & auto loans cheaper

NEW DELHI: Waiting for the Reserve Bank of India (RBI) to cut interest rates before deciding on buying that home or a car? You may not need to! According to ET Now the RBI is planning a 'funding for lending' scheme, under which the central bank may lend money to banks at a 1-2% cheaper rate. This in turn will allow banks to lend to potential consumers at a lower rate.

"The special window allows banks the option of cheaper refinancing from the RBI. This cheaper refinancing can be anywhere to the tune of 1% to 2% lower than market rates," reported ET Now. 
This window was first used in order to boost consumption during former RBI governor YV Reddy's tenure. With less elbowroom with the RBI to cut key policy rates, this move is an attempt by the government to bring down effective rates for home and auto loans.

"High interest rates are denting consumption, so to boost consumption, this window can be used. The moment there is cheaper refinancing available for banks to avail, it will result in cheaper home and auto loans," said ET Now. Both the real estate and auto sectors are reeling under the effects of a slowdown. While inventories are piling up in the housing sector, auto is also facing the worst slowdown in some years. According to ET Now sources, the move has been debated upon both in Finance Ministry and RBI.

While some analysts are apprehensive about the effect this measure may have in stoking an already high inflation, sources close to the decision making process told ET Now that since industrial inflation is sub 4%, the boost to consumption would be manageable. While the refinance window measure is expected to be announced soon, it is unlikely to be a part of the new RBI governor Raghuram Rajan's monetary policy review on September 20. "There will be various other measures that will be deliberated upon. This is still in discussion stage but is actively being weighed upon," said the channel. The measure, if it comes, will be in the backdrop of both the auto and real estate sector seeking government intervention to provide an impetus to slowing consumption.

Funding for lending' scheme in works to make home & auto loans cheaper

NEW DELHI: Waiting for the Reserve Bank of India (RBI) to cut interest rates before deciding on buying that home or a car? You may not need to! According to ET Now the RBI is planning a 'funding for lending' scheme, under which the central bank may lend money to banks at a 1-2% cheaper rate. This in turn will allow banks to lend to potential consumers at a lower rate.

"The special window allows banks the option of cheaper refinancing from the RBI. This cheaper refinancing can be anywhere to the tune of 1% to 2% lower than market rates," reported ET Now. 
This window was first used in order to boost consumption during former RBI governor YV Reddy's tenure. With less elbowroom with the RBI to cut key policy rates, this move is an attempt by the government to bring down effective rates for home and auto loans.

"High interest rates are denting consumption, so to boost consumption, this window can be used. The moment there is cheaper refinancing available for banks to avail, it will result in cheaper home and auto loans," said ET Now. Both the real estate and auto sectors are reeling under the effects of a slowdown. While inventories are piling up in the housing sector, auto is also facing the worst slowdown in some years. According to ET Now sources, the move has been debated upon both in Finance Ministry and RBI.

While some analysts are apprehensive about the effect this measure may have in stoking an already high inflation, sources close to the decision making process told ET Now that since industrial inflation is sub 4%, the boost to consumption would be manageable. While the refinance window measure is expected to be announced soon, it is unlikely to be a part of the new RBI governor Raghuram Rajan's monetary policy review on September 20. "There will be various other measures that will be deliberated upon. This is still in discussion stage but is actively being weighed upon," said the channel. The measure, if it comes, will be in the backdrop of both the auto and real estate sector seeking government intervention to provide an impetus to slowing consumption.