Friday, May 11, 2012

VOA News: Economy: Greek Political Leaders Fail to Form Government

VOA News: Economy
Economy Voice of America
Greek Political Leaders Fail to Form Government
May 12th 2012, 04:41

Greek political leaders have failed to form a coalition that would resolve a political impasse and avert the need for new elections.

Socialist leader Evangelos Venizelos made the announcement Friday after the Radical Left Coalition, or Syriza, refused to join the Socialists and conservatives due to a disagreement on the country's economic austerity program.

The Socialist and conservative New Democracy parties have proposed a gradual phasing out of the tough measures imposed by the European Union and IMF in exchange for a bailout loan. The leftists want them canceled immediately. If there is no lasting agreement by May 17, new elections will be called.

"Arrogance and petty party politics with a view toward elections are not suitable at this critical moment. Even if elections are repeated, what is going to change from this attitude? Nothing. The moment of truth is here for everyone. I will inform the president tomorrow afternoon. I hope everybody shows maturity and responsibility in consultations with the president,'' said Venizelos.

Syriza leader Alexis Tsipras said the Greek people voted against the austerity measures imposed by the European Union and IMF, and that their will cannot be ignored.

"It is not the Left Coalition that has refused this proposal, but the Greek people who did so with their vote on Sunday.''

Greek voters punished both the Socialists [PASOK] and New Democracy for having pushed through the tough economic austerity measures in return for huge international loans to avert bankruptcy.

Venizelos is the third Greek leader who tried and failed to form a government after Sunday's inconclusive election.  

Earlier Friday, Venizelos met with the leader of the Conservative Party, Antonis Samaras, for talks on a coalition government. Another possible ally, the small Democratic Left party, said it would not join a government made up only of Socialists and the conservative New Democracy party that did not include Syriza.

President Karolos Papoulias is expected to call on parties to form an emergency coalition to govern until new elections are held.  

New Democracy won the most parliamentary seats in Sunday's election, followed by the Radical Left and the Socialists. But no party won enough seats to be able to put together a new government on its own.

Syriza leader Tsipras had called on the two parties to renounce their support for the deep spending cuts, but could not get enough support in parliament to hammer out a coalition.

European Union leaders are pressuring Greece to carry through with the austerity plans. Germany warned Friday that Greece will get no more money without reforms and that the eurozone can survive if the cash-strapped country leaves Europe's 17-member currency union.

Some information for this report was provided by AP, AFP and Reuters.

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VOA News: Europe: Greek Political Leaders Fail to Form Government

VOA News: Europe
Europe Voice of America
Greek Political Leaders Fail to Form Government
May 12th 2012, 04:41

Greek political leaders have failed to form a coalition that would resolve a political impasse and avert the need for new elections.

Socialist leader Evangelos Venizelos made the announcement Friday after the Radical Left Coalition, or Syriza, refused to join the Socialists and conservatives due to a disagreement on the country's economic austerity program.

The Socialist and conservative New Democracy parties have proposed a gradual phasing out of the tough measures imposed by the European Union and IMF in exchange for a bailout loan. The leftists want them canceled immediately. If there is no lasting agreement by May 17, new elections will be called.

"Arrogance and petty party politics with a view toward elections are not suitable at this critical moment. Even if elections are repeated, what is going to change from this attitude? Nothing. The moment of truth is here for everyone. I will inform the president tomorrow afternoon. I hope everybody shows maturity and responsibility in consultations with the president,'' said Venizelos.

Syriza leader Alexis Tsipras said the Greek people voted against the austerity measures imposed by the European Union and IMF, and that their will cannot be ignored.

"It is not the Left Coalition that has refused this proposal, but the Greek people who did so with their vote on Sunday.''

Greek voters punished both the Socialists [PASOK] and New Democracy for having pushed through the tough economic austerity measures in return for huge international loans to avert bankruptcy.

Venizelos is the third Greek leader who tried and failed to form a government after Sunday's inconclusive election.  

Earlier Friday, Venizelos met with the leader of the Conservative Party, Antonis Samaras, for talks on a coalition government. Another possible ally, the small Democratic Left party, said it would not join a government made up only of Socialists and the conservative New Democracy party that did not include Syriza.

President Karolos Papoulias is expected to call on parties to form an emergency coalition to govern until new elections are held.  

New Democracy won the most parliamentary seats in Sunday's election, followed by the Radical Left and the Socialists. But no party won enough seats to be able to put together a new government on its own.

Syriza leader Tsipras had called on the two parties to renounce their support for the deep spending cuts, but could not get enough support in parliament to hammer out a coalition.

European Union leaders are pressuring Greece to carry through with the austerity plans. Germany warned Friday that Greece will get no more money without reforms and that the eurozone can survive if the cash-strapped country leaves Europe's 17-member currency union.

Some information for this report was provided by AP, AFP and Reuters.

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VOA News: Economy: JP Morgan Losses Bolster Case for New Financial Regulations

VOA News: Economy
Economy Voice of America
JP Morgan Losses Bolster Case for New Financial Regulations
May 12th 2012, 03:28

Banks stocks took a big hit Friday after JP Morgan Chase and Company reported a $2-billion loss on a complex trading strategy that went bad. The bank's disclosure is renewing debate over the need for tougher financial regulations.

It's one of the world's biggest investment banks, and its CEO is among the harshest critics of government efforts to rein in risky financial bets. But in a late night conference call to shareholders, JP Morgan CEO Jamie Dimon told investors the bank may have taken too big a risk.

"We are reducing that hedge, but in hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored," said Dimon.

Dimon blamed the $2-billion loss on a complex trading scheme that was designed, ironically, to help manage the bank's credit risks. Instead, the trading blunder bolstered the argument that big banks cannot be trusted to handle risks on their own.

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"Well, as he [Dimon] said himself, there's egg on his face [he's embarrassed] and it does play very well, as he says, into the pundits who have been advocating the Volcker rule and also the scenario of being too big to fail," said CMC Markets analyst Brenda Kelly.

The Volcker rule is named after former Federal Reserve Chairman Paul Volcker. It would restrict the biggest U.S. banks from making risky investments that do not benefit bank customers. Volcker said such trades involving credit default swaps and other derivatives played a key role in the financial crisis of 2008.

"It was elements of a casino, a very complex casino with all sorts of inter-dependencies.  And when it came under pressure, not just from credit default swaps but otherwise, when the system came under pressure - it collapsed," said Volcker.

JP Morgan has warned investors to expect additional losses - sending a shiver through Wall Street. JP Morgan stock lost more than 8 per cent of its value. Other financial stocks also suffered big declines.

Analysts fear the scandal will impact regulations not just in the U.S., but around the world.

"Just as it will in the U.S. and in the eurozone, Asia will not be spared this push down the path of greater, tighter regulations," said Tim Condon, who is head of Asia research at ING Financial Markets.

In a statement Friday, U.S. Senator Carl Levin of Michigan, who has been pushing for new banking rules, said the bank's losses were "a stark reminder of the need for regulators to establish tough, effective standards."

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VOA News: USA: JP Morgan Losses Bolster Case for New Financial Regulations

VOA News: USA
USA Voice of America
JP Morgan Losses Bolster Case for New Financial Regulations
May 12th 2012, 03:28

Banks stocks took a big hit Friday after JP Morgan Chase and Company reported a $2-billion loss on a complex trading strategy that went bad. The bank's disclosure is renewing debate over the need for tougher financial regulations.

It's one of the world's biggest investment banks, and its CEO is among the harshest critics of government efforts to rein in risky financial bets. But in a late night conference call to shareholders, JP Morgan CEO Jamie Dimon told investors the bank may have taken too big a risk.

"We are reducing that hedge, but in hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored," said Dimon.

Dimon blamed the $2-billion loss on a complex trading scheme that was designed, ironically, to help manage the bank's credit risks. Instead, the trading blunder bolstered the argument that big banks cannot be trusted to handle risks on their own.

<!--AV-->
"Well, as he [Dimon] said himself, there's egg on his face [he's embarrassed] and it does play very well, as he says, into the pundits who have been advocating the Volcker rule and also the scenario of being too big to fail," said CMC Markets analyst Brenda Kelly.

The Volcker rule is named after former Federal Reserve Chairman Paul Volcker. It would restrict the biggest U.S. banks from making risky investments that do not benefit bank customers. Volcker said such trades involving credit default swaps and other derivatives played a key role in the financial crisis of 2008.

"It was elements of a casino, a very complex casino with all sorts of inter-dependencies.  And when it came under pressure, not just from credit default swaps but otherwise, when the system came under pressure - it collapsed," said Volcker.

JP Morgan has warned investors to expect additional losses - sending a shiver through Wall Street. JP Morgan stock lost more than 8 per cent of its value. Other financial stocks also suffered big declines.

Analysts fear the scandal will impact regulations not just in the U.S., but around the world.

"Just as it will in the U.S. and in the eurozone, Asia will not be spared this push down the path of greater, tighter regulations," said Tim Condon, who is head of Asia research at ING Financial Markets.

In a statement Friday, U.S. Senator Carl Levin of Michigan, who has been pushing for new banking rules, said the bank's losses were "a stark reminder of the need for regulators to establish tough, effective standards."

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VOA News: USA: US Panel Recommends Approval of Drug to Prevent HIV

VOA News: USA
USA Voice of America
US Panel Recommends Approval of Drug to Prevent HIV
May 12th 2012, 01:17

The recommendation by a U.S government-funded panel of doctors and scientists that healthy people should be able to use an AIDS drug to prevent contracting the HIV virus has many advocates hoping the U.S. goal of an "AIDS-free generation" may actually be more within reach. The potentially life-saving effects of the prophylactic use of Truvada are in the spotlight.

The U.S. Food and Drug Administration held a marathon 12-hour hearing Thursday to evaluate evidence that Truvada, a once-daily pill currently being used to treat AIDS patients, also could be used to prevent HIV infection in healthy individuals.

A panel of independent medical experts voted overwhelmingly to back Truvada's use to prevent HIV and urged the FDA to approve the drug for use by those who are considered to be at a high risk for contracting the disease.

"Using Truvada or pre-exposure prophylaxis, to prevent acquiring HIV, for an HIV negative person is a game changer, and it's something that I believe is really going to take us to the next level," said Kali Lindsey, who is with the National Minority AIDS Council.

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New drug provides hope

Some critics have said Truvada could give people a false sense of confidence and lead to a reduced use of condoms. But HIV educator Brad Miller believes approval of the drug will actually promote a dialogue on condom usage.

"They'll know more about their health and what they can do to protect their health, versus being told what to do about their health," said Miller.

Lisa and her husband, Tracy, who is HIV positive, make up one of the estimated 140,000 couples in the U.S. with mis-matching HIV statuses.

"This woman cared more about me than what I was infected with. Because the average person around here when they hear it, would go running the opposite direction," said Tracy.

Lisa chose not to cut ties, but instead to tie the knot [get married], and also to try Truvada.

"I want to remain healthy, so that in the times of his need, that I'm there to assist. So when PrEP came along I jumped at the idea," said Lisa.

Optimism among advocates, users

PrEP refers to pre-exposure prophylaxis, and Tracy is a strong supporter.

"PrEP helps, it does. I think that's one of the most positive things they could have come up with, along with their research of how to combat the disease," said Tracy.

Currently wait-listed for a trial where she would receive free PrEP drugs, Lisa worries about the cost - as high as $1,500 per month.

"I just hope that they approve the PrEP, so that many others that are living in the situation that I'm living in will have this resource available to them," she said.

The U.S. Food and Drug Administration is not required to follow the panel's recommendation on Truvada, but FDA officials concluded the high-profile session by saying more must be done to prevent more HIV infections from occurring.

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VOA News: USA: Student Addicts Live, Recover Together at US University Program

VOA News: USA
USA Voice of America
Student Addicts Live, Recover Together at US University Program
May 11th 2012, 21:23

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Drugs and alcohol are easily available on most college campuses in the United States. Now several American universities are offering separate substance-free housing and therapy for students recovering from alcoholism and drug addiction. Rutgers University in New Jersey is the institution that pioneered such housing in 1988.

At Rutgers University, one student was scoring in a game of virtual soccer. It was a small victory in one of two recovery dorms. The 38 students in the so-called Recovery House there seek a larger victory - a life free of drugs and alcohol.  

Counselors asked that current residents not be shown to protect their anonymity.

Gregory says his abuse included prescription drugs usually prescribed for anxiety.

"Klonopins, Xanax, alcohol, marijuana and all of these were on a daily basis. It escalated to the point where I really couldn't focus on my schoolwork."

He dropped out of his first university, got clean at a treatment center and applied to Rutgers. He said he's found genuine fellowship in Recovery House.

"These are friends also that I can talk to about some really personal issues that are going on in my life. Previously, my friendships, especially when I was using [drugs], were friendships based on 'let's get high together,'" said Gregory.

Lisa Laitman founded the university's Alcohol and Other Drug Assistance Program. She said students with a good amount of time in recovery help the newcomers break out of the isolation associated with addiction.

"The new person is going to breathe a sigh of relief and say: 'I'm not alone. I'm not the only one who does these crazy things," said Laitman.

In addition to remaining abstinent, residents must attend twice weekly meetings to discuss their addictions.

Program alumnus Rich Alexander remembers discussions about sobriety. He's been sober for 22 years.

"That's what we talked about, 'how are you going to stay sober today?' And that's it: today, today, today," said Alexander.

The students also must participate in what's known as the 12-step program for overcoming addiction. Step 9, for example, is about making amends to those the addict has harmed.

"You need to make amends to people to move past how we've messed up in the past. And so it's basically always being aware of our defects of character and making sure that we correct those things," said one recovery house participant.

Cathy, an immigrant from England, said she had lost her daughter to heroin and credits Recovery House for getting her back.

"They do barbecues, they go see hockey games, they have walking activities, cycling activities. So this thing is going on which they do together as a family, team, whatever you want to call it," she said.

Without support, recovering students could relapse into drugs and alcohol. Recovery House means they have the chance to continue their studies without interruption. Rutgers says many program alumni have won big victories in life - higher degrees, successful careers, and meaningful relationships.




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VOA News: Arts and Entertainment: 'Seeking Asian Female' Explores Gulf Between Perception and Reality

VOA News: Arts and Entertainment
Arts and Entertainment Voice of America
'Seeking Asian Female' Explores Gulf Between Perception and Reality
May 11th 2012, 21:12

Sometimes, the best laid plans don't always work out as imagined.

That was the case for filmmaker Debbie Lum, the producer and director of the documentary "Seeking Asian Female." It was also true for the subjects of her film: Steven, an aging white American obsessed with marrying an Asian woman, and his bride-to-be Sandy, a 30-year-old Chinese woman he met online.

Lum initially set out to explore the phenomenon of "yellow fever," a sexual obsession non-Asian men have with Asian women.

"As a Chinese-American woman myself, I originally intended to make an exposé of what I thought were demeaning and racist attitudes about Asian women," she said. "The film that develops – a story of cross-cultural challenges, love and friendship – comes as a complete surprise to me."

The movie is an engrossing, charming story of how three virtual strangers, thrown together, learn about themselves and each other as their preconceived notions meet reality. The three never found what they thought they were looking for, but as the movie ends, they appear to have discovered something better.

While interviewing men with professed "yellow fever," Lum came across Steven, a 60-year-old, twice-divorced garage attendant at the airport in San Francisco, California. He represented Lum's "worst nightmare," because for 10 years he had been scouring Internet dating sites specializing in connecting Asian women with Western men in search of the perfect bride.

"I think I was initially drawn to him because he had no verbal filter," she said. "He shared with me the things he thought about Asian women that maybe others didn't want to say."

A self-proclaimed hoarder, Steven's small apartment in a San Francisco suburb was filled with mementos of his long search for love, including pictures of, and letters from, Asian pen pals, as well as catalogs from so-called mail-order bride services he'd used in the past.

At the beginning of the film, Steven is enthralled with a 24-year-old woman in Asia, but she dumps him and, improbably, he finds Sandy online.

Sandy met two of Steven's criteria: She was young and Chinese, but not quite the innocent he'd dreamt of.

Sandy's story is a common one in China. Born in the countryside, she made her way to the industrial hub of Shenzen in her teens to work in a factory. She worked her way up and landed an office job. Yet she was still single and considered old for a Chinese woman seeking a husband.

"She was not dead set on coming to America," said Lum. "She was really looking for someone to get married to. That was her main objective. She actually thought she was posting an ad for Chinese people."

Lum said she thought Sandy was driven to find someone "who really adored her."

"There are many times I think she thought things would have been better in China," she said. "One could argue she could be better off economically in China. Her choice was very much of the heart."

Sandy, the film reveals, is also not the demure, obedient wife Steven may have thought he wanted. At one point, she discovers Steven is still in contact with his former pen pal and cleverly manipulates the aftermath to permanently remove her from Steven's life.

Lum intended to remain an objective filmmaker and document Steven and Sandy's relationship. But since Sandy spoke virtually no English and Steven spoke virtually no Chinese, they turned to Lum, who speaks "broken" Chinese.

"They would just naturally ask me to translate," she said. "It was awkward, and I wondered if I should be doing it."

Lum's intervention was pivotal at one tense moment during a misunderstanding which threatened to end Steven and Sandy's short relationship.

The couple will celebrate their third anniversary this August.

"We're happy for the most part. We're doing the best we can to be a good team. Each one of us gives something and shares," said Steven. "I am the Senate, and she's the House of Representative. There's a lot of clamoring in the House, but the Senate slows things down."

Steven said Sandy's English has improved "300 percent," but admits his Chinese has not improved at all.

Lum isn't sure what would have happened had she remained a fly on the wall.

"I would say that the two of them have chemistry. Whether they would have been able to work out all of their issues without me being there, I don't know," she said. "It might have been a bumpier ride. You look at them today, and they have a really solid relationship. I don't deal with their late night calls."

Media files:
SAFtease.jpg
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VOA News: Asia: 'Seeking Asian Female' Explores Gulf Between Perception and Reality

VOA News: Asia
Asia Voice of America
'Seeking Asian Female' Explores Gulf Between Perception and Reality
May 11th 2012, 21:17

Sometimes, the best laid plans don't always work out as imagined.

That was the case for filmmaker Debbie Lum, the producer and director of the documentary "Seeking Asian Female." It was also true for the subjects of her film: Steven, an aging white American obsessed with marrying an Asian woman, and his bride-to-be Sandy, a 30-year-old Chinese woman he met online.

Lum initially set out to explore the phenomenon of "yellow fever," a sexual obsession non-Asian men have with Asian women.

"As a Chinese-American woman myself, I originally intended to make an exposé of what I thought were demeaning and racist attitudes about Asian women," she said. "The film that develops – a story of cross-cultural challenges, love and friendship – comes as a complete surprise to me."

The movie is an engrossing, charming story of how three virtual strangers, thrown together, learn about themselves and each other as their preconceived notions meet reality. The three never found what they thought they were looking for, but as the movie ends, they appear to have discovered something better.

While interviewing men with professed "yellow fever," Lum came across Steven, a 60-year-old, twice-divorced garage attendant at the airport in San Francisco, California. He represented Lum's "worst nightmare," because for 10 years he had been scouring Internet dating sites specializing in connecting Asian women with Western men in search of the perfect bride.

"I think I was initially drawn to him because he had no verbal filter," she said. "He shared with me the things he thought about Asian women that maybe others didn't want to say."

A self-proclaimed hoarder, Steven's small apartment in a San Francisco suburb was filled with mementos of his long search for love, including pictures of, and letters from, Asian pen pals, as well as catalogs from so-called mail-order bride services he'd used in the past.

At the beginning of the film, Steven is enthralled with a 24-year-old woman in Asia, but she dumps him and, improbably, he finds Sandy online.

Sandy met two of Steven's criteria: She was young and Chinese, but not quite the innocent he'd dreamt of.

Sandy's story is a common one in China. Born in the countryside, she made her way to the industrial hub of Shenzen in her teens to work in a factory. She worked her way up and landed an office job. Yet she was still single and considered old for a Chinese woman seeking a husband.

"She was not dead set on coming to America," said Lum. "She was really looking for someone to get married to. That was her main objective. She actually thought she was posting an ad for Chinese people."

Lum said she thought Sandy was driven to find someone "who really adored her."

"There are many times I think she thought things would have been better in China," she said. "One could argue she could be better off economically in China. Her choice was very much of the heart."

Sandy, the film reveals, is also not the demure, obedient wife Steven may have thought he wanted. At one point, she discovers Steven is still in contact with his former pen pal and cleverly manipulates the aftermath to permanently remove her from Steven's life.

Lum intended to remain an objective filmmaker and document Steven and Sandy's relationship. But since Sandy spoke virtually no English and Steven spoke virtually no Chinese, they turned to Lum, who speaks "broken" Chinese.

"They would just naturally ask me to translate," she said. "It was awkward, and I wondered if I should be doing it."

Lum's intervention was pivotal at one tense moment during a misunderstanding which threatened to end Steven and Sandy's short relationship.

The couple will celebrate their third anniversary this August.

"We're happy for the most part. We're doing the best we can to be a good team. Each one of us gives something and shares," said Steven. "I am the Senate, and she's the House of Representative. There's a lot of clamoring in the House, but the Senate slows things down."

Steven said Sandy's English has improved "300 percent," but admits his Chinese has not improved at all.

Lum isn't sure what would have happened had she remained a fly on the wall.

"I would say that the two of them have chemistry. Whether they would have been able to work out all of their issues without me being there, I don't know," she said. "It might have been a bumpier ride. You look at them today, and they have a really solid relationship. I don't deal with their late night calls."

Media files:
SAFtease.jpg
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VOA News: Africa: China Plays Bigger Diplomatic Role in Sudan Conflict

VOA News: Africa
Africa Voice of America
China Plays Bigger Diplomatic Role in Sudan Conflict
May 11th 2012, 20:46

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China is playing a bigger diplomatic role in trying to end hostility between Sudan and South Sudan. The Obama administration says that could help resolve a standoff that has cut Sudanese oil exports.

Most of the recent fighting between Sudan and South Sudan ended when Sudanese troops recaptured the key oil town of Heglig.  But the dispute over oil revenue remains, with South Sudan stopping crude production after refusing to pay higher fees to use Sudan's pipelines.

China is the biggest foreign investor in Sudanese oil and is taking a more active role in trying to end the dispute.

Oil and security topped the agenda druing South Sudanese President Salva Kiir's visit to Beijing.

Liu Weimin, a Chinese Foreign Ministry spokesman, said "We believe oil is the economic lifeline for both Sudan and South Sudan. Maintaining the stability and sustainability of oil cooperation is fundamental to the interests of both countries and is consistent with the interests of Chinese enterprises."

Sudanese oil was a topic of Secretary of State Hillary Clinton's strategic and economic dialogue in Beijing.  U.S. special envoy Princeton Lyman says Washington is "delighted" by China's role in helping to ease tensions. "They have increasingly recognized that if the political issues in Sudan and between Sudan and South Sudan are not resolved, neither the oil nor their other interests can be served," he said.

During Sudan's long civil war, China backed Sudanese President Omar al-Bashir.

But Beijing is now investing in South Sudan.

John Bradshaw is executive director of the Enough Project to end genocide and crimes against humanity. "The Chinese have recognized that the kind of dynamic they had working with the regime in Khartoum is just no longer sustainable, and they have to have a more balanced approach between Juba and Khartoum to try to bring the two sides together," he said.

Doug Bandow is a senior fellow at Washington's Cato Institute. He says greater Chinese involvement helps both Sudan and the international community. "If they (the Chinese) see a practical reason to try to solve the Sudan problem, well the U.S. and the Europeans also want to solve that. We can work together as opposed to being at odds," he said.

During his visit to Beijing, South Sudanese President Kiir sought Chinese investment to build an oil pipeline through Kenya to avoid using Khartoum-controlled ports.

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VOA News: Economy: India's Softer Tax Stance Fails to Placate Foreign Investors

VOA News: Economy
Economy Voice of America
India's Softer Tax Stance Fails to Placate Foreign Investors
May 11th 2012, 20:50

India has softened recent controversial tax measures that had rattled foreign companies, but this has not gone far enough to placate overseas investors. Business confidence in Asia's third largest economy has taken a hit.

For weeks, foreign investors had pressed India to reconsider a proposal to retroactively tax foreign companies that have bought an Indian asset overseas.  Parliament passed the law this week after Finance Minister Pranab Mukherjee said he could not let India become a tax haven.

The government says the new tax rules are aimed at  "tax evasion" by foreign companies, which often route their investments in India through tax friendly countries like Mauritius.  

Investors say they face the prospect of huge bills they had not anticipated because the new law can be used against transactions from as early as 1962. The company immediately affected is Vodafone. It could face demands to pay more than $2.2 billion in taxes from its takeover in 2007 of a telecom company, even though the Indian Supreme Court ruled it was not liable to pay the tax.   

However, Indian authorities stepped back on a separate rule that could also have led to higher tax liabilities for foreign investors in India's stock markets. They said its implementation will be deferred by a year.

In recent weeks, concerns over the proposed law had led some foreign funds to withdraw investments from India, costing the country billions of dollars.

However, analysts say the government's moves may not have done enough to revive confidence in India as an attractive investment destination.

A. Prasanna, an economist at ICICI Securities in Mumbai, says India's economy has been losing its sheen as growth slides to around seven percent.  "I don't think anyone should question the intent of the government. But I think the short term problem or the medium term problem that continues to persist, essentially is that reforms are not moving forward and the investment climate has worsened," Prasanna stated. "That apart, there is a general sense of drift in policy making which has definitely contributed to this problem."

Officials say India remains attractive for investors because it is a growing economy with a huge middle class population. They say investment decisions are based on the size of the market and will not be impacted by the new tax laws.

But analysts are not so sure. They point out that there are no signs of a quick economic revival as the government had hoped. The national currency, the rupee, has plunged by nearly 16 percent against the dollar in the last year. And the latest data indicates that industrial output - a key economic indicator - fell 3.5 percent in March from a year ago due to weak domestic demand and investment.

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VOA News: Economy: Ethiopia's Meles Blames African Corruption on Foreign Investors

VOA News: Economy
Economy Voice of America
Ethiopia's Meles Blames African Corruption on Foreign Investors
May 11th 2012, 20:46

What is the poison that corrupts many African leaders, no matter how honorable their intentions when they take office?  That was the question put to a panel of that included heads of state and government at the World Economic Forum on Africa on Thursday.  The question received a surprisingly candid answer.

It was promoted as a conversation on Africa's leadership.  Among those on stage were the leaders of Africa's two most populous nations - Nigeria's President Goodluck Jonathan and Ethiopia's Prime Minister Meles Zenawi.

The conversation was routine until the floor was opened to questions from youth leaders.  A young South African woman stood up to ask the question that many had pondered, but few dared to pose.

"Good day.  My name is Gobano Madnamaraso," she said. "When our leaders are young - most of our African leaders - they are visionaries.  They have wonderful visions for our continent.  They are admirable.  The speak good, they do good.  But something happens to them once they are seated in those chairs of power.  My question is:  We want to see our continent change, but we are afraid of this power that corrupts even some of the best, most admirable leaders on our continent, and what is this poison that happens in these chairs of power and how can we prevent it? "

But perhaps just as frank as the question was the reply.

Ethiopian Prime Minister Meles Zenawi pointed to greedy foreign corporations as a main driver of corruption.

"What is the poison that leaders face when you go to national palaces, and transforms people with vision sometimes into ordinary thieves?  Let's start with the total amount of loot in Africa, and what our role as leaders in that loot[ing] is," said Meles. "The vast majority of the loot[ing] is done by properly organized companies through all sorts of accounting gimmicks."

Meles said African leaders are forced to be facilitators for foreign companies who demand favors in return for their investment that might means jobs for their people.

"It's a difficult thing to manage because our bargaining cards are very limited," he said. "We need these companies to create jobs, in order for them to come to Africa.  The image is very negative, so the risk is artificially spiked.  And if the risk is artificially spiked, the return has to be commensurate with the risk.  And so it's difficult to attract them without extraordinary returns."

The Ethiopian leader said that sometimes leaders give in to temptation.

"Sometimes we facilitate without being paid," he said. "At other times we say, 'Okay, if your family's farm is being looted, why not join in?'  I think that is the most insidious form of corruption.  It affects everybody, including those whose hands are not in the till."

Another question that was less confrontational, but no less pointed, came from young Sudanese woman who wanted an explanation for the lack of female representation among African leaders.

"Hello, I am Jihada Bonefice from the Khartoum hub in Sudan," she said. "It's quite wonderful to see all you gentlemen up there.  But my question is:  How do you envision the role of African women in shaping the future?  And is there any way you are trying very hard to maybe to get African women where they belong - right up there [on stage]?"

Gabon's President Ali Bongo Ondimba answered, saying "Women are Africa's chance for success tomorrow."  But panelists agreed that solutions to the continent's leadership gender imbalance will be difficult.

Increasing the ranks of female leaders will be among topics discussed at Friday's closing forum meetings, along with China's rising prominence in Africa.

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VOA News: Americas: Ancient Mayan Artwork, Calculations Discovered

VOA News: Americas
Americas Voice of America
Ancient Mayan Artwork, Calculations Discovered
May 11th 2012, 20:49

Archeologists working among the ruins of a 9th century Mayan town in Guatemala have discovered a room filled with extraordinarily well-preserved artwork. The colorful wall paintings provide new insights into how Mayan astronomers charted the cosmos.  

Xultun was the largest city in the ancient Mayan empire in Central America, where, at its height, an estimated 90,000 people lived and worked among pyramids, inscribed monuments, water reservoirs and sport fields. But by the 14th century, the Mayan civilization had collapsed and this great city fell with it.

In 1920, Xultun was rediscovered, overgrown with vegetation. Work to map the 31 square-kilometer site and decode the myriad inscriptions on its monuments continues to this day.<!--IMAGE-LEFT-->

In 2008, Boston University archeologist William Saturno was exploring tunnels in the Xultun ruins that had been opened by looters in the 1970s.  One day his student assistant, Max Chamberlain, discovered the entranceway - close to the surface but hidden by vegetation - to a room-like structure.

"Max thought he saw the remnants of paint on the walls of this fairly small Maya structure," Saturno says.

Once inside the room - part of a larger residential complex at the Xultun site - Saturno knew he was in a special place. On the opposite wall, he came face-to-face with the painting of a Mayan king, its regal colors remarkably preserved.<!--AV-->

"[He's wearing] this gorgeous sort of blue-green head dress, he's holding this white scepter in his hand," Saturno says. "He's sitting on top of this throne. He is just incredible to look at."   

Another figure painted in brilliant orange wears a white medallion and holds a small stylus in his hand - possibly the artist scribe who lived in the house, Saturno speculates.  On the other walls are more male figures in black with white loin cloths and identical head dresses with a single red feather.  And running all around, between and sometimes on top of these figures is tiny Mayan hieroglyphic script.

"There are these large numerical arrays, just columns of numbers of one after another, after another," Saturno says. "This seems to be a place where Maya scribes are at work.  They are painting and repainting texts on the walls. They are in different hands and different scales and different sizes in order to have the calculations present."<!--IMAGE-LEFT-->

According to Saturno, the painted numbers are a version of the Mayan calendar system, one that he notes predates the Mayan astronomical tables written on bark paper books in the 14th century. The parallels were obvious once he began to do the math.

"The Maya had a 260-day ceremonial calendar and a 365 solar calendar," Saturno says. "The Maya combined those two calendars to make a longer cycle of time that repeated every 52 years. But they also kept track of the motions of Venus and the motions of Mars and perhaps the motions of Mercury. And the numbers that are recorded on this wall are multiples of all of those cycles combined."

The painted room also pays tribute to the way the Maya used those calendars to synchronize human activities with the larger cycles of the moon and planets they routinely observed in the heavens. Saturno says while modern humans keep looking for endings, the Maya were looking for a guarantee that nothing would change.

"This is the type of calculation and dissemination of knowledge that we don't get to look at for a people for whom this type of knowledge was central to their existence."

Saturno is making images of the Xultun paintings that students and scholars can access using desk-top scanners and other tools. When that work is done, Saturno plans to rebury the site, leaving it to rest where the ancient Mayan people created it.  His study of the Xultun site is featured in the journal Science and in the June issue of the National Geographic magazine.

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VOA News: USA: Mandatory Minimum Drug Sentences Controversial in US

VOA News: USA
USA Voice of America
Mandatory Minimum Drug Sentences Controversial in US
May 11th 2012, 20:18

Federal prosecutors call mandatory minimum sentences one of their best tools in the war against illegal drugs.  The sentences usually call for years of prison time depending on the quantity and type of drugs.  Critics argue that such sentences take away judicial discretion from judges and are partially responsible for the explosion in the U.S. prison population.

<!--AV-->

In April of 1998, twins Lawrence and Lamont Garrison were about to graduate from Howard University in Washington.  Both worked at the U.S. Justice Department and planned to attend law school.  Then, they got the shock of their lives.

The man who had repaired their car a year earlier was indicted for cocaine and crack distribution. He told drug agents that the Garrisons had been involved in the drug conspiracy.

"They questioned me and showed me a picture of Tito Abea.  They said, 'Have you ever seen this guy?  And I said, 'Yes, he fixed my car,'" recalled Lawrence Garrison.

The Garrisons found themselves trapped on the darker side of federal laws that set mandatory minimum sentences for drug offenses, laws intended to make it easier to prosecute drug kingpins.  

The garage owner faced a mandatory 10 years to life in prison.  The only way to reduce that sentence was to implicate someone else, the Garrisons.

Critics of mandatory sentences say that is a common practice in drug cases.  They also say the people implicated often have nothing to do with the crime.

"So they will give someone up.  Other times, people actually make up names, and say, 'Well, yes, so and so did this.  I saw him one time,'" explained Julie Stewart, president of Families Against Mandatory Minimum Sentences.

Lamont Garrison remembers being offered the opportunity to reduce his time.

"They said, O.K. Mr. Garrison, this is your opportunity to help yourself.  'Well help myself?  How?  What do you mean?' 'Well you know what this is about you guys are doing XYZ, you got to tell us what you are doing,'" recalled Lamont Garrison.

The opportunity to reduce one's sentence can lead to innocents being fingered for crimes they didn't commit.

"They call it the best tool in their arsenal.  Because they can hold a hammer over a defendant's head and say either you give us more Information or you are going to get a five or 10 year sentence," said Stewart.

But the Judicial Conference of the U.S. opposes to mandatory minimum sentences because they tie judges hands.  

The Garrisons were never charged with possession, just conspiracy, and maintain they knew nothing about the drugs. They say they refused to lie and ruin someone else's life.  

A federal jury in Virginia convicted the Garrisons on the testimony of the garage owner and his brother.  Prosecutors presented no other evidence against them.  Julie Stewart says public outcry over drug violence at the time played a role.

"There was an enormous sensitivity around the crack cocaine issue that I think you could have taken just about anybody to trial and charge them with some sort of crack cocaine offense and found them guilty," Stewart added.

Lawrence served 12 years in prison, his brother almost 14.  The garage owner who implicated them was sentenced to 18 months.  The brothers no longer have any interest in the law.  They say the system is corrupt and that federal mandatory minimum sentences play a big role.

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