17th International Film fest Kerala begins today

 THIRUVANANTHAPURAM: The 17th edition of the International Film Festival of Kerala (IFFK) will get underway here on Friday with Chief Minister Oommen Chandy of the south Indian Kerala state inagurating the eight-day movie extravaganza.

The annual movie gala will showcase around 200 handpicked movies from 54 countries in 15 different categories in select theatres in the city.

17th International Film fest Kerala begins today

 THIRUVANANTHAPURAM: The 17th edition of the International Film Festival of Kerala (IFFK) will get underway here on Friday with Chief Minister Oommen Chandy of the south Indian Kerala state inagurating the eight-day movie extravaganza.

The annual movie gala will showcase around 200 handpicked movies from 54 countries in 15 different categories in select theatres in the city.

Citigroup to cut more than 11,000 jobs worldwide

NEW YORK: Citigroup said on Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4% of Citi's workforce of 262,000.

The bank did not spell out how many of the jobs will be in the United States. Most of them, about 6,200, will come from Citi's consumer banking unit, which handles everyday functions like branches and checking accounts.

Citi said that it will sell or scale back consumer operations in Pakistan, Paraguay, Romania, Turkey and Uruguay and focus on 150 cities around the world "that have the highest growth potential in consumer banking.''

About 1,900 jobs will come from the institutional clients group, which includes investment banking. The company will also cut jobs in technology and operations by using more automation and moving jobs to "lower-cost locations.''

Citi said it expects the cuts to save $900 million next year, and slightly more in the following years. They will be a drag in the short term. Citi said it expects to record pre-tax charges of approximately $1 billion in the fourth quarter.

Job cuts are familiar in banking today as companies struggle under new regulations and deal with nervous customers and ire from both lawmakers and customers miffed about industry sins that helped cause the 2008 financial crisis.

In a statement, Corbat said the bank remains committed to "our unparalleled global network and footprint.'' However, he added: "We have identified areas and products where our scale does not provide for meaningful returns.''

He promised that the bank would reduce "excess capacity and expenses, whether they center on technology, real estate or simplifying our operations.''

Corbat became CEO in October after his predecessor, Vikram Pandit, stepped down. Pandit had reportedly clashed with the board over the company's strategy and its relationship with the government.

While the job cuts are among the first major moves by Corbat, they are in line with Pandit's blueprint.

Citi nearly collapsed during the financial crisis and had to take two taxpayer bailout loans. It has been shrinking ever since, shedding units and trying to find a business model that's more streamlined and efficient.

The paring hasn't always gone as well as Citi hoped. This fall, for example, when Citi negotiated the sale of its stake in the retail brokerage Morgan Stanley Smith Barney, it got far less than it wanted from the buyer, Morgan Stanley.

Corbat said Citi "has come a long way over the past several years.'

'

Citigroup to cut more than 11,000 jobs worldwide

NEW YORK: Citigroup said on Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4% of Citi's workforce of 262,000.

The bank did not spell out how many of the jobs will be in the United States. Most of them, about 6,200, will come from Citi's consumer banking unit, which handles everyday functions like branches and checking accounts.

Citi said that it will sell or scale back consumer operations in Pakistan, Paraguay, Romania, Turkey and Uruguay and focus on 150 cities around the world "that have the highest growth potential in consumer banking.''

About 1,900 jobs will come from the institutional clients group, which includes investment banking. The company will also cut jobs in technology and operations by using more automation and moving jobs to "lower-cost locations.''

Citi said it expects the cuts to save $900 million next year, and slightly more in the following years. They will be a drag in the short term. Citi said it expects to record pre-tax charges of approximately $1 billion in the fourth quarter.

Job cuts are familiar in banking today as companies struggle under new regulations and deal with nervous customers and ire from both lawmakers and customers miffed about industry sins that helped cause the 2008 financial crisis.

In a statement, Corbat said the bank remains committed to "our unparalleled global network and footprint.'' However, he added: "We have identified areas and products where our scale does not provide for meaningful returns.''

He promised that the bank would reduce "excess capacity and expenses, whether they center on technology, real estate or simplifying our operations.''

Corbat became CEO in October after his predecessor, Vikram Pandit, stepped down. Pandit had reportedly clashed with the board over the company's strategy and its relationship with the government.

While the job cuts are among the first major moves by Corbat, they are in line with Pandit's blueprint.

Citi nearly collapsed during the financial crisis and had to take two taxpayer bailout loans. It has been shrinking ever since, shedding units and trying to find a business model that's more streamlined and efficient.

The paring hasn't always gone as well as Citi hoped. This fall, for example, when Citi negotiated the sale of its stake in the retail brokerage Morgan Stanley Smith Barney, it got far less than it wanted from the buyer, Morgan Stanley.

Corbat said Citi "has come a long way over the past several years.'

'

Islamists clash with anti-Mursi group in Egypt

Cairo: Clashes broke out Wednesday night between Muslim Brotherhood members and opposition supporters in front of the high-security Egyptian presidential palace here where the two groups assembled for rival demonstrations after Islamist President Mohamed Mursi returned to the complex.

The anti-Mursi protesters were staging a sit-in outside the palace when they were attacked. Earlier U.S. Secretary of State Hillary Clinton had said that the situation in Egypt is critical and said that a dialogue is ‘urgently needed’ keeping in scenes in the streets of Cairo. 

Former presidential candidate Amr Moussa, who is also chairman of the Egyptian National Congress, warned that the clashes will further heat up the situation. 

The Constitution Party also warned of "dire consequences" for what it described assaults on peaceful protesters in Tahrir Square and outside the palace. 

"We are warning of dire consequences for mounting calls by figures affiliated with the Muslim Brotherhood and the Islamist current," the party said in a statement, which claimed that the president's supporters had called for massive protests "and even jihad, according to Al-Misry-al-Youm. 

The clashes came after Mursi, who yesterday left the Palace through back gate, today returned to the complex. 

Meanwhile, Prosecutor General Talaat Ibrahim Abdallah yesterday ordered a probe against three former presidential candidates accusing them of espionage and conspiring a "Zionist plot" against the Islamist government. 

Abdallah referred to the State Security Prosecution a complaint accusing Mohamed ElBaradei, Hamdein Sabahy and Moussa of spying and inciting the overthrow of the President. 

Founder of the Constitution Party ElBaradei, Moussa and founder of the Popular Current Party Sabahy have declared their support to the ongoing anti-Mursi protests after the latter assumed absolute power through a decree last month, sparking the current crisis. 

Hamed Sadeq, a lawyer who filed the complaint, also accused Wafd Party president Al-Sayed al-Badawy and Judges Club head Ahmed al-Zend of espionage and sedition. 

Sadeq claimed that Moussa met with former Israeli foreign minister Tzipi Livni and agreed with her to fabricate internal crises, and that all of the politicians named in his complaint then met at the Wafd Pary headquarters here to implement the "Zionist plot." 

He requested that the accused be banned from travel and that the Wafd Party headquarters be confiscated for probe. 

Filing criminal charges against opposition figures was a common practice during ousted president Hosni Mubarak's era. 

Ghad al-Thawra Party leader Ayman Nour was sentenced to five years in prison in December 2005 for allegedly forging signatures to enable him to register the Ghad Party. 

The party had been approved in 2004. Nour was released from prison in February 2009. 

Nour finished second after Mubarak in the presidential election in September 2005. Some observers argued that the case was punishment for his unexpected bid for presidency.

Islamists clash with anti-Mursi group in Egypt

Cairo: Clashes broke out Wednesday night between Muslim Brotherhood members and opposition supporters in front of the high-security Egyptian presidential palace here where the two groups assembled for rival demonstrations after Islamist President Mohamed Mursi returned to the complex.

The anti-Mursi protesters were staging a sit-in outside the palace when they were attacked. Earlier U.S. Secretary of State Hillary Clinton had said that the situation in Egypt is critical and said that a dialogue is ‘urgently needed’ keeping in scenes in the streets of Cairo. 

Former presidential candidate Amr Moussa, who is also chairman of the Egyptian National Congress, warned that the clashes will further heat up the situation. 

The Constitution Party also warned of "dire consequences" for what it described assaults on peaceful protesters in Tahrir Square and outside the palace. 

"We are warning of dire consequences for mounting calls by figures affiliated with the Muslim Brotherhood and the Islamist current," the party said in a statement, which claimed that the president's supporters had called for massive protests "and even jihad, according to Al-Misry-al-Youm. 

The clashes came after Mursi, who yesterday left the Palace through back gate, today returned to the complex. 

Meanwhile, Prosecutor General Talaat Ibrahim Abdallah yesterday ordered a probe against three former presidential candidates accusing them of espionage and conspiring a "Zionist plot" against the Islamist government. 

Abdallah referred to the State Security Prosecution a complaint accusing Mohamed ElBaradei, Hamdein Sabahy and Moussa of spying and inciting the overthrow of the President. 

Founder of the Constitution Party ElBaradei, Moussa and founder of the Popular Current Party Sabahy have declared their support to the ongoing anti-Mursi protests after the latter assumed absolute power through a decree last month, sparking the current crisis. 

Hamed Sadeq, a lawyer who filed the complaint, also accused Wafd Party president Al-Sayed al-Badawy and Judges Club head Ahmed al-Zend of espionage and sedition. 

Sadeq claimed that Moussa met with former Israeli foreign minister Tzipi Livni and agreed with her to fabricate internal crises, and that all of the politicians named in his complaint then met at the Wafd Pary headquarters here to implement the "Zionist plot." 

He requested that the accused be banned from travel and that the Wafd Party headquarters be confiscated for probe. 

Filing criminal charges against opposition figures was a common practice during ousted president Hosni Mubarak's era. 

Ghad al-Thawra Party leader Ayman Nour was sentenced to five years in prison in December 2005 for allegedly forging signatures to enable him to register the Ghad Party. 

The party had been approved in 2004. Nour was released from prison in February 2009. 

Nour finished second after Mubarak in the presidential election in September 2005. Some observers argued that the case was punishment for his unexpected bid for presidency.

NASA releases satellite imagery of India on Diwali night

WASHINGTON: NASA, the national space agency of the US, released a black and white satellite imagery of India this Diwali night, cautioning people against the fake image in circulation on the social media. "On November 12, 2012, the Visible Infrared Imaging Radiometer Suite (VIIRS) on the Suomi NPP satellite captured this nighttime view of southern Asia," NASA said releasing a picture of India on this Diwali night. "The image is based on data collected by the VIIRS 'day- night band', which detects light in a range of wavelengths from green to near-infrared. The image has been brightened to make the city lights easier to distinguish," it said. NASA said most of the bright areas in the imagery released by it are cities and towns in India, the country with the world's largest Hindu population. "India is home to more than 1.2 billion people and has 30 cities with populations over 1 million. (For comparison, China has 62 cities with more than 1 million residents and the United States has 9)," it said. Cities in Bangladesh, Nepal, and Pakistan are also visible near the edges of the image. "An image that claims to show the region lit for Diwali has been circulating on social media websites and the Internet in recent years. In fact, it does not show what it claims. That image, based on data from the Operational Linescan System flown on US Defense Meteorological Satellite Program (DMSP) satellites, is a color-composite created in 2003 by NOAA scientist Chris Elvidge to highlight population growth over time," NASA said. "In that image, white areas show city lights that were visible prior to 1992, while blue, green, and red shades indicate city lights that became visible in 1992, 1998, and 2003 respectively," it said. "In reality, any extra light produced during Diwali is so subtle that it is likely imperceptible when observed from space," NASA said.

NASA releases satellite imagery of India on Diwali night

WASHINGTON: NASA, the national space agency of the US, released a black and white satellite imagery of India this Diwali night, cautioning people against the fake image in circulation on the social media. "On November 12, 2012, the Visible Infrared Imaging Radiometer Suite (VIIRS) on the Suomi NPP satellite captured this nighttime view of southern Asia," NASA said releasing a picture of India on this Diwali night. "The image is based on data collected by the VIIRS 'day- night band', which detects light in a range of wavelengths from green to near-infrared. The image has been brightened to make the city lights easier to distinguish," it said. NASA said most of the bright areas in the imagery released by it are cities and towns in India, the country with the world's largest Hindu population. "India is home to more than 1.2 billion people and has 30 cities with populations over 1 million. (For comparison, China has 62 cities with more than 1 million residents and the United States has 9)," it said. Cities in Bangladesh, Nepal, and Pakistan are also visible near the edges of the image. "An image that claims to show the region lit for Diwali has been circulating on social media websites and the Internet in recent years. In fact, it does not show what it claims. That image, based on data from the Operational Linescan System flown on US Defense Meteorological Satellite Program (DMSP) satellites, is a color-composite created in 2003 by NOAA scientist Chris Elvidge to highlight population growth over time," NASA said. "In that image, white areas show city lights that were visible prior to 1992, while blue, green, and red shades indicate city lights that became visible in 1992, 1998, and 2003 respectively," it said. "In reality, any extra light produced during Diwali is so subtle that it is likely imperceptible when observed from space," NASA said.

Lok Sabha approves FDI in retail, rejects opposition motion

NEW DELHI: FDI in multi-brand retail today got the approval of the Lok Sabha as the opposition motion seeking immediate withdrawal of the decision was rejected convincingly as BSP and SP walked out. 218 voted in favour of the opposition motion, while 253 voted against it in the House where 471 members participated in the voting. The total strength of the House is 545. The House also rejected the motion seeking amendment to the rules notified by the Reserve Bank under Foreign Exchange Management Act (Fema) to enable FDI in multi-brand retail. While 254 voted in favour of the government, 224 were against. Members of SP and BSP, with respective strength of 22 and 21, did not participate in the voting as they walked out alleging that interests of farmers and small retailers had been ignored. The victory of the government after two days of heated debate was immediately hailed by Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi. "FDI policy that we have put in place has the approval of this House (Lok Sabha)," said Singh, who is a member of Rajya Sabha but was present during the voting in the Lower House. This was after a gap of many years that an executive decision of the government was put to vote in Parliament. Earlier, replying to the discussion, commerce minister Anand Sharma dismissed the opposition charge that the move would hurt small traders and farmers and that the government has rushed the decision. He said the decision was not taken overnight and deliberations were held with chief ministers and other stake holders like association of farmers, consumer organizations and representatives of the food processing industry. Leader of the opposition Sushma Swaraj, who had moved the motion, maintained that majority of the House was against FDI in retail which was reflected in speeches of leaders of different political parties. Swaraj said going by speeches in the debate on FDI, leaders of various parties which extended support in favour of the motion and against bringing FDI in multi-brand retail had 282 votes and those against it had 224 votes. She said 22 leaders of 18 parties participated in the debate on FDI in multi-brand retail of which 14 spoke in its favour. "I wanted the thought to be converted into vote that will be engraved in the history of Lok Sabha," Swaraj said, lamenting that this did not seem happening as some parties like SP and BSP which vehemently opposed the entry of FDI in retail had already walked out to avoid voting on the issue. While seeking to reach out to wider opposition camp, she said it was not a vote on communal or secular lines but about the interest of the country. After the voting, she told reporters that the government "won technically but lost on moral grounds." The commerce minister said out of 21 states which responded to the Centre's communication on the issue, 11 supported in writing the move to open multi-brand retail. Only 7 states opposed the proposal, while few sought clarifications, he said, adding that he personally met Punjab chief minister Prakash Singh Badal, Odisha chief minister Naveen Patnaik and West Bengal chief minister Mamata Banerjee. In the backdrop of the federal structure of the country, he said, the Centre decided to leave the final decision on states whether to allow foreign investment in retail. "No one can take away the right of an elected government to take decision", he said adding the decision was taken after discussions with the stakeholders. "Consensus means general agreement and not unanimity," he said. Participating in the debate, BJP leader Murli Manohar Joshi said his party was for "retail democracy and not retail dictatorship" and warned that people would not tolerate such an action. Noting that retail giant Wal-Mart had indulged in corrupt practices in several countries, Joshi said the government need not promote their interest but work in the interest of farmers and workers. He rejected government's contention that foreign investment in retail would benefit farmers and increase competition. He told the UPA, "apni gardan aap katwayen, magar desh ki gardan mat katwayen" (if you want to sacrifice your head for the sake of FDI in retail, please do, but do not sacrifice the interest of the nation for it). Deepender Hooda (Cong) sought to embarrass BJP by referring to Purti Group, a company run by BJP president Nitin Gadkari, and said it was into multi-brand retail in a big way. In this context, he questioned why BJP was opposing this government decision. Hooda, son of Haryana chief minister, said he wanted to assure foreign companies like McDonald's and Pepsico and if they were not getting respect in BJP-ruled Gujarat, they could come to Haryana. He quoted the letter of Sukhbir Singh Badal, Deputy Chief Minister of Punjab, to Anand Sharma in 2011 that supported FDI in multi-brand retail. He also read out from the letter written by the Akali Dal leader who is now opposing the proposal. Warning of more agitations against FDI in retail, senior CPM leader Basudeb Acharia said while the Left has been consistent in opposing the move, the government has been "inconsistent throughout". "The Prime Minister, as the Leader of Opposition in Rajya Sabha earlier, had written a letter opposing it. Congress leader P R Dasmunsi had termed it 'anti-national' in this very House. We have been consistent, you are not," he said. Praful Patel said while BJP was opposing FDI in multi-brand retail, the NDA government led by it had furthered the liberalisation policy initiated by the Congress government in the 1990s. He said claims that FDI would result in an "earthquake" were unfounded and urged opposition against creating a sense of fear among people. He claimed that due to presence of foreign chains like McDonald and KFC, Indian chains like Bikanerwala and Haldiram have improved their retail infrastructure. Bhratruhari Mahtab (BJD) said his party had opposed the move in 2004, in last December and even today. "It will not help our agriculture and we have apprehensions that it will give rise to social unrest," he said. He rejected government's argument that FDI in retail would create jobs and bring in additional resources. Strongly opposing FDI in multi-brand retail, senior CPI leader Gurudas Dasgupta said there is pressure from multi-nationals and the Prime Minister is even ready to sacrifice the government to implement the proposal. Dasgupta said allowing FDI in multi-brand retail would result in a scenario of "giants (MNCs) versus pygmies (domestic retailers)" and there cannot be growth. Anant Geete (Shiv Sena) too opposed the move and said the government, by allowing it, was inviting the East India Company.

Lok Sabha approves FDI in retail, rejects opposition motion

NEW DELHI: FDI in multi-brand retail today got the approval of the Lok Sabha as the opposition motion seeking immediate withdrawal of the decision was rejected convincingly as BSP and SP walked out. 218 voted in favour of the opposition motion, while 253 voted against it in the House where 471 members participated in the voting. The total strength of the House is 545. The House also rejected the motion seeking amendment to the rules notified by the Reserve Bank under Foreign Exchange Management Act (Fema) to enable FDI in multi-brand retail. While 254 voted in favour of the government, 224 were against. Members of SP and BSP, with respective strength of 22 and 21, did not participate in the voting as they walked out alleging that interests of farmers and small retailers had been ignored. The victory of the government after two days of heated debate was immediately hailed by Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi. "FDI policy that we have put in place has the approval of this House (Lok Sabha)," said Singh, who is a member of Rajya Sabha but was present during the voting in the Lower House. This was after a gap of many years that an executive decision of the government was put to vote in Parliament. Earlier, replying to the discussion, commerce minister Anand Sharma dismissed the opposition charge that the move would hurt small traders and farmers and that the government has rushed the decision. He said the decision was not taken overnight and deliberations were held with chief ministers and other stake holders like association of farmers, consumer organizations and representatives of the food processing industry. Leader of the opposition Sushma Swaraj, who had moved the motion, maintained that majority of the House was against FDI in retail which was reflected in speeches of leaders of different political parties. Swaraj said going by speeches in the debate on FDI, leaders of various parties which extended support in favour of the motion and against bringing FDI in multi-brand retail had 282 votes and those against it had 224 votes. She said 22 leaders of 18 parties participated in the debate on FDI in multi-brand retail of which 14 spoke in its favour. "I wanted the thought to be converted into vote that will be engraved in the history of Lok Sabha," Swaraj said, lamenting that this did not seem happening as some parties like SP and BSP which vehemently opposed the entry of FDI in retail had already walked out to avoid voting on the issue. While seeking to reach out to wider opposition camp, she said it was not a vote on communal or secular lines but about the interest of the country. After the voting, she told reporters that the government "won technically but lost on moral grounds." The commerce minister said out of 21 states which responded to the Centre's communication on the issue, 11 supported in writing the move to open multi-brand retail. Only 7 states opposed the proposal, while few sought clarifications, he said, adding that he personally met Punjab chief minister Prakash Singh Badal, Odisha chief minister Naveen Patnaik and West Bengal chief minister Mamata Banerjee. In the backdrop of the federal structure of the country, he said, the Centre decided to leave the final decision on states whether to allow foreign investment in retail. "No one can take away the right of an elected government to take decision", he said adding the decision was taken after discussions with the stakeholders. "Consensus means general agreement and not unanimity," he said. Participating in the debate, BJP leader Murli Manohar Joshi said his party was for "retail democracy and not retail dictatorship" and warned that people would not tolerate such an action. Noting that retail giant Wal-Mart had indulged in corrupt practices in several countries, Joshi said the government need not promote their interest but work in the interest of farmers and workers. He rejected government's contention that foreign investment in retail would benefit farmers and increase competition. He told the UPA, "apni gardan aap katwayen, magar desh ki gardan mat katwayen" (if you want to sacrifice your head for the sake of FDI in retail, please do, but do not sacrifice the interest of the nation for it). Deepender Hooda (Cong) sought to embarrass BJP by referring to Purti Group, a company run by BJP president Nitin Gadkari, and said it was into multi-brand retail in a big way. In this context, he questioned why BJP was opposing this government decision. Hooda, son of Haryana chief minister, said he wanted to assure foreign companies like McDonald's and Pepsico and if they were not getting respect in BJP-ruled Gujarat, they could come to Haryana. He quoted the letter of Sukhbir Singh Badal, Deputy Chief Minister of Punjab, to Anand Sharma in 2011 that supported FDI in multi-brand retail. He also read out from the letter written by the Akali Dal leader who is now opposing the proposal. Warning of more agitations against FDI in retail, senior CPM leader Basudeb Acharia said while the Left has been consistent in opposing the move, the government has been "inconsistent throughout". "The Prime Minister, as the Leader of Opposition in Rajya Sabha earlier, had written a letter opposing it. Congress leader P R Dasmunsi had termed it 'anti-national' in this very House. We have been consistent, you are not," he said. Praful Patel said while BJP was opposing FDI in multi-brand retail, the NDA government led by it had furthered the liberalisation policy initiated by the Congress government in the 1990s. He said claims that FDI would result in an "earthquake" were unfounded and urged opposition against creating a sense of fear among people. He claimed that due to presence of foreign chains like McDonald and KFC, Indian chains like Bikanerwala and Haldiram have improved their retail infrastructure. Bhratruhari Mahtab (BJD) said his party had opposed the move in 2004, in last December and even today. "It will not help our agriculture and we have apprehensions that it will give rise to social unrest," he said. He rejected government's argument that FDI in retail would create jobs and bring in additional resources. Strongly opposing FDI in multi-brand retail, senior CPI leader Gurudas Dasgupta said there is pressure from multi-nationals and the Prime Minister is even ready to sacrifice the government to implement the proposal. Dasgupta said allowing FDI in multi-brand retail would result in a scenario of "giants (MNCs) versus pygmies (domestic retailers)" and there cannot be growth. Anant Geete (Shiv Sena) too opposed the move and said the government, by allowing it, was inviting the East India Company.