New highs for SGX's derivatives & commodities markets in 2012






SINGAPORE: The Singapore Exchange's derivatives and commodities markets achieved record highs in 2012.

However as in most global markets, trading activities declined.

Turnover dropped 12 per cent in 2012 to S$321.5 billion.

However securities market performance, as measured by the Straits Times Index, was up 20 per cent last year.

In December, turnover was up 39 per cent from a year earlier at S$23.2 billion.

Meanwhile, derivatives volume in 2012 reached a new high of 80.2 million contracts, up 11 per cent.

The volume of agri-commodity futures also grew 56 per cent in 2012 to 255,815 contracts.

- CNA/jc



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Ajit Singh to have final say on jet import

NEW DELHI: In yet another move to overrule the Prime Minister's office, the Ajit Singh-led aviation ministry has decided that the Jat leader will be the final approving authority for anyone wishing to import aircraft to India.

The aviation ministry used to have an empowered aircraft acquisition committee (AAC) headed by its additional secretary-cum-financial advisor that would clear requests from airlines, charter companies and private individuals to bring in aircraft. The empowered status of the AAC was withdrawn some months back and UPA's crucial alliance partner, Ajit Singh, was made the final approving authority. The PMO on October 30 had sent a letter to the aviation ministry, asking it to keep "in abeyance" its decision to give the Jat leader the final authority to clear the recommendations of the AAC. The letter stated that this structure could delay aircraft acquisition and bring in a license raj.

Sources close to Ajit Singh said he "did not even take cognizance" of the letter sent by a director of the PMO and aviation secretary K N Shrivastava took up the issue with the PMO. The ministry prevailed and issued an order — dated October 31 — that Singh will be the "approving authority" and AAC a "recommending authority" for aircraft acquisition requests by schedule airlines, regional airlines, charter companies and private individuals. The aviation secretary will be the approving authority for import requests by flying clubs; for extending initial import permissions and to replace aircraft when seating capacity of new planes is 10% more than the old ones.

This is the second time in six months when the aviation ministry has over-ruled the PMO. In July, it sacked director general of civil aviation Bharat Bhushan just after the PMO granted him an extension.

Aviation ministry officials say the decision to make the AAC empowered taken during the NDA rule was "bad in law". "The ministry clarified to the PMO that the final approval authority for importing aircraft is with the minister. Ajit Singh feels that low cost carriers which started in India were also meant to promote regional connectivity by connecting small towns to metros and have small planes to inter-connect small towns. In past few years, airlines have been allowed to import 100 plus aircraft and these airlines do not have small planes for regional connectivity. His aim to be the final approver was to ensure regional connectivity is not lost sight of while clearing airlines' request to bring in planes," a top official said.

Ajit Singh said: "Someone complained in the PMO that minister being final approving authority will mean delays. There is no question of that happening under me. Also, the decision to have the minister as approving authority was taken by my predecessor (Vayalar Ravi) in March 2011. There was no legal status for the AAC to be an empowered agency. I have spoken to the PM on this issue and it has been laid to rest."

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Your medical chart could include exercise minutes


CHICAGO (AP) — Roll up a sleeve for the blood pressure cuff. Stick out a wrist for the pulse-taking. Lift your tongue for the thermometer. Report how many minutes you are active or getting exercise.


Wait, what?


If the last item isn't part of the usual drill at your doctor's office, a movement is afoot to change that. One recent national survey indicated only a third of Americans said their doctors asked about or prescribed physical activity.


Kaiser Permanente, one of the nation's largest nonprofit health insurance plans, made a big push a few years ago to get its southern California doctors to ask patients about exercise. Since then, Kaiser has expanded the program across California and to several other states. Now almost 9 million patients are asked at every visit, and some other medical systems are doing it, too.


Here's how it works: During any routine check of vital signs, a nurse or medical assistant asks how many days a week the patient exercises and for how long. The number of minutes per week is posted along with other vitals at the top the medical chart. So it's among the first things the doctor sees.


"All we ask our physicians to do is to make a comment on it, like, 'Hey, good job,' or 'I noticed today that your blood pressure is too high and you're not doing any exercise. There's a connection there. We really need to start you walking 30 minutes a day,'" said Dr. Robert Sallis, a Kaiser family doctor. He hatched the vital sign idea as part of a larger initiative by doctors groups.


He said Kaiser doctors generally prescribe exercise first, instead of medication, and for many patients who follow through that's often all it takes.


It's a challenge to make progress. A study looking at the first year of Kaiser's effort showed more than a third of patients said they never exercise.


Sallis said some patients may not be aware that research shows physical inactivity is riskier than high blood pressure, obesity and other health risks people know they should avoid. As recently as November a government-led study concluded that people who routinely exercise live longer than others, even if they're overweight.


Zendi Solano, who works for Kaiser as a research assistant in Pasadena, Calif., says she always knew exercise was a good thing. But until about a year ago, when her Kaiser doctor started routinely measuring it, she "really didn't take it seriously."


She was obese, and in a family of diabetics, had elevated blood sugar. She sometimes did push-ups and other strength training but not anything very sustained or strenuous.


Solano, 34, decided to take up running and after a couple of months she was doing three miles. Then she began training for a half marathon — and ran that 13-mile race in May in less than three hours. She formed a running club with co-workers and now runs several miles a week. She also started eating smaller portions and buying more fruits and vegetables.


She is still overweight but has lost 30 pounds and her blood sugar is normal.


Her doctor praised the improvement at her last physical in June and Solano says the routine exercise checks are "a great reminder."


Kaiser began the program about three years ago after 2008 government guidelines recommended at least 2 1/2 hours of moderately vigorous exercise each week. That includes brisk walking, cycling, lawn-mowing — anything that gets you breathing a little harder than normal for at least 10 minutes at a time.


A recently published study of nearly 2 million people in Kaiser's southern California network found that less than a third met physical activity guidelines during the program's first year ending in March 2011. That's worse than results from national studies. But promoters of the vital signs effort think Kaiser's numbers are more realistic because people are more likely to tell their own doctors the truth.


Dr. Elizabeth Joy of Salt Lake City has created a nearly identical program and she expects 300 physicians in her Intermountain Healthcare network to be involved early this year.


"There are some real opportunities there to kind of shift patients' expectations about the value of physical activity on health," Joy said.


NorthShore University HealthSystem in Chicago's northern suburbs plans to start an exercise vital sign program this month, eventually involving about 200 primary care doctors.


Dr. Carrie Jaworski, a NorthShore family and sports medicine specialist, already asks patients about exercise. She said some of her diabetic patients have been able to cut back on their medicines after getting active.


Dr. William Dietz, an obesity expert who retired last year from the Centers for Disease Control and Prevention, said measuring a patient's exercise regardless of method is essential, but that "naming it as a vital sign kind of elevates it."


Figuring out how to get people to be more active is the important next step, he said, and could have a big effect in reducing medical costs.


___


Online:


Exercise: http://1.usa.gov/b6AkMa


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Hagel to Be Obama's Defense Secretary Nominee


Jan 6, 2013 4:52pm







gty chuck hagel kb 121220 wblog Obama Will Nominate Chuck Hagel as Next Defense Secretary

(Junko Kimura/Getty Images)


WASHINGTON, D.C. — President Obama will nominate former senator Chuck Hagel to be his next Secretary of Defense tomorrow.


Senior officials within the administration and Capitol Hill confirmed the pick to ABC News today after the Nebraska Republican had emerged as a frontrunner among potential candidates several weeks ago.


Hagel, 66, is a decorated Vietnam veteran and businessman who served in the senate from 1997 to 2009. After having sat on that chamber’s Foreign Relations and Intelligence Committees,  he has in recent years gathered praise from current and former diplomats for his work on Obama’s Intelligence Advisory Board as well as the policy board of the current Defense Secretary Leon Panetta.


But the former lawmaker faces an upscale battle in the coming confirmation hearings in Congress; critics on both sides of the aisle have taken aim at his record toward Israel and what some have called a lack of experience necessary to lead the sprawling Pentagon bureaucracy or its operations.


Progressives have also expressed concern about comments he made in 1998, questioning whether an “openly, aggressively gay” James Hormel could be nominated to an ambassador position by then-President Clinton. Hagel apologized for the comments last month, adding that he also supported gays in the military – a position he once opposed.


Who Is Chuck Hagel? Meet Obama’s Top Pentagon Pick


The friction with his former colleagues has left a degree of uncertainty in the air going into the hearings. Today on ABC’s “This Week,” Senate Republican Leader Mitch McConnell demurred when asked whether he would support the man who, in 2008, he had championed for his candidness and stature in foreign policy.


“I’m going to wait and see how the hearings go and see whether Chuck’s views square with the job he would be nominated to do,” he told George Stephanopoulos.


Senator Lindsey Graham was more blunt in his opposition to Hagel on CNN. The Georgia Republican called Hagel an “in your face nomination,” and said he “would be the most antagonistic secretary of defense towards the state of Israel in our nation’s history.”


If confirmed, Hagel will join a crop of new cabinet members expected to join the president in his second term, including Sen. John Kerry, D-Mass., who was nominated in December to replace Hillary Clinton as Secretary of State.


ABC’s Elizabeth Hartfield and Devin Dwyer contributed reporting.



SHOWS: Good Morning America This Week World News







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Activists wary as India rushes to justice after gang rape


NEW DELHI (Reuters) - It's no surprise the Indian street wants faster, harsher justice for sexual crimes after a horrific gang rape that rocked the nation, but some activists worry the government will trample fundamental rights in its rush to be in tune with popular rage.


Last month's rape of a physiotherapy student on a moving bus and her death on December 28 in hospital triggered a national debate about how to better protect women in India, where official data shows one rape is reported on average every 20 minutes.


Many women's rights groups are cautiously hopeful the protests and outrage that followed the crime can be channeled into real change - fast-track courts for sexual offences and a plan to hire 2,500 new women police in Delhi are measures already in the works.


But legal experts and some feminists are worried that calls to make rape punishable with death and other draconian penalties will cramp civil liberties and are unconstitutional. They say India needs better policing and prosecutions, not new laws.


"If there are not enough convictions, it is not because of an insufficiency of law, but it is the insufficiency of material to base the conviction on," said retired Delhi High Court judge R.S. Sodhi.


Five men have been charged with the student's rape and murder and will appear before a New Delhi court later on Monday. They are due to be tried in a newly formed fast-track court in the next few weeks. A teenager also accused will likely be tried in a juvenile court.


Ahead of Monday's court appearance the five still had no defense lawyers - despite extensive interrogations by the police, who have said they have recorded confessions - after members of the bar association in the South Delhi district where the case is being heard vowed not to represent them.


GROUNDS FOR APPEAL


The men will be assigned lawyers by the court before the trial begins, but their lack of representation so far could give grounds for appeal later should they be found guilty - similar cases have resulted in acquittals years after convictions.


"The accused has a right to a lawyer from point of arrest - the investigations are going on, statements being taken, it is totally illegal," said Colin Gonsalves, a senior Supreme Court advocate and director of Delhi's Human Rights Law Network.


Senior leaders of most states on Friday came out in support of a plan to lower to 16 the age that minors can be tried as adults - in response to fury that the maximum penalty the accused youth could face is three years detention.


A government panel is considering suggestions to make the death penalty mandatory for rape and introducing forms of chemical castration for the guilty. It is due to make its recommendations by January 23.


"The more you strengthen the powers of the state against the people, the more the possibility you create a draconian regime," said Sehjo Singh, Programme and Policy Director with ActionAid in India and an expert on Indian women's social movements.


"We want to raise the bar of human rights in India, we want to raise the standards, not lower them."


The Indian Express newspaper warned against "knee-jerk" reaction and said any change to the juvenile law "must come after rigorous and considered debate. It cannot be a reaction to a fraught moment".


Courts are swamped with a backlog of cases in the country of 1.2 billion people and trials often take more than five years to complete, so the launch by Chief Justice Altamas Kabir of six fast-track courts in the capital to deal with sexual offences was widely greeted as a welcome move.


Several other states including Tamil Nadu and Maharashtra are now looking at following Delhi's example.


But Gonsalves says while the courts are a good idea on paper, similar tribunals in the past delivered dubious verdicts and put financial pressure on the rest of the justice system.


FAST TRACK COURTS


India set up 1,700 fast-track courts in 2004, but stopped funding them last year because they turned out to be costly. The courts typically work six days a week and try to reduce adjournments that lead to long delays in cases.


"The record of the fast-track courts is mixed," Gonsalves said. Conviction rates rose, he said, but due process was sometimes rushed, leading to convictions being overturned.


"Fast-track courts were in many ways were fast-track injustice," he said.


The real problem lie with bad policing and a shortage of judges, Gonsalves said. India has about a fifth of the number of judges per capita that the United States has.


Indian police are often poorly trained and underpaid, and have sometimes been implicated in organized crime. Rights groups complain the mostly male officers are insensitive to victims of sexual crimes.


Resources for, and expertise in, forensic science is limited in most of the country's police forces and confessions are often extracted under duress. The judiciary complains it is hard to convict offenders because of faulty evidence.


Human Rights Watch said reforms to laws and procedures covering rape and other sexual crimes should focus on protection of witnesses and modernizing support for victims at police stations and hospitals.


The rights organization has documented the continued use of archaic practices such as the "finger test" used by some doctors on rape victims to allegedly determine if they had regular sex.


"Reforms in the rape laws - these are needed. But not in terms of enhancing punishment," said Meenakshi Ganguly, South Asia Director of Human Rights Watch.


"Why they are not investigated, why there are not enough convictions, those are the things that need to be addressed."


(Additional reporting by Satarupa Bhattacharjya, Shashank Chouhan and Annie Banerji; Editing by Alex Richardson)



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Football: Wolves sack Solbakken after FA Cup exit






LONDON: Stale Solbakken was sacked as manager of Championship side Wolves on Saturday, just hours after the club had been dumped out of the FA Cup by non-league Luton.

The struggling side, who were relegated from the Premier League last season, also terminated the contracts of assistant manager Johan Lange and Patrick Weiser, the first team coach.

Wolves are currently 18th in the Championship, having won just three out of their last 16 league games and a disappointing run of results culminated in Saturday's FA Cup third round 1-0 defeat to Luton Town.

Solbakken had only been in charge at Molineux for six months.

"Kevin Thelwell, head of football development and recruitment, will take charge of first team training until a new manager is appointed, assisted by development coach, Steve Weaver," said a club statement.

"The club would like to offer their thanks and best wishes to Stale, Johan and Patrick."

The 44-year-old Solbakken, who had previously been in charge of German side Cologne, replaced Terry Connor in the Wolves hotseat last summer.

He becomes the 10th Championship manager to leave his club this season while Wolves now search for their fourth boss in under a year.

Speaking after Saturday's match, the Norwegian had said he was not "embarrassed" by the defeat.

"There will be a lot of questions over me but that is normal, that's football and I have to take that, it's no problem," he said.

"I can put it right. I'm not embarrassed by the result, I can't fault the players' effort. First half we did well, but second half we didn't because our physical presence in the box was not enough."

- AFP/de



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Jabalpur rape victim may get swift justice

JABALPUR: Raped and blackmailed by her neighbour, 28-year-old Mehrunnisa (name changed) could be the first woman to get fast track justice in Madhya Pradesh. While the district police have created a record by arresting the accused and putting up the chargesheet before the chief judicial magistrate within four days of lodging of the FIR, the case is scheduled for trial on January 7.

Even though no date had been announced officially for setting up a fast track court (FTC) in the state so far, sources said that this case could be the first to be listed and decided on priority. Jabalpur is one among the nine notorious districts having the highest number of sexual offences against women in MP. Last Thursday, chief minister Shivraj Singh Chouhan had announced his government's decision to set up nine fast track courts to deal with rape cases.

These courts, the CM had said after having consulted Chief Justice Sharad Arvind Bobde, would become functional with immediate effect. MP high court is already working on it and the FTCs, officials feel, in all likelihood would become operational by next week. This could well mean speedy justice for Mehrunnisa.

She has charged Ajay Gupta, a medical representative, who occupied the flat above hers with extortion and rape. The man, the FIR says, had been claiming to be in possession of Mehrunnisa's obscene photographs and had been blackmailing her. The victim said that Ajay not only extorted money but taking advantage of her vulnerability raped her.

Last week she mustered courage and confided in her brother and then approached the kotwali to file a formal complaint on December 30. "The police arrested Gupta and produced him before the court. The man was sent to the district jail by the magistrate. The police prepared the chalan and put it up before the court on January 4," SP Harinarayan Chari Mishra said.

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FDA: New rules will make food safer


WASHINGTON (AP) — The Food and Drug Administration says its new guidelines would make the food Americans eat safer and help prevent the kinds of foodborne disease outbreaks that sicken or kill thousands of consumers each year.


The rules, the most sweeping food safety guidelines in decades, would require farmers to take new precautions against contamination, to include making sure workers' hands are washed, irrigation water is clean, and that animals stay out of fields. Food manufacturers will have to submit food safety plans to the government to show they are keeping their operations clean.


The long-overdue regulations could cost businesses close to half a billion dollars a year to implement, but are expected to reduce the estimated 3,000 deaths a year from foodborne illness. The new guidelines were announced Friday.


Just since last summer, outbreaks of listeria in cheese and salmonella in peanut butter, mangoes and cantaloupe have been linked to more than 400 illnesses and as many as seven deaths, according to the federal Centers for Disease Control and Prevention. The actual number of those sickened is likely much higher.


Many responsible food companies and farmers are already following the steps that the FDA would now require them to take. But officials say the requirements could have saved lives and prevented illnesses in several of the large-scale outbreaks that have hit the country in recent years.


In a 2011 outbreak of listeria in cantaloupe that claimed 33 lives, for example, FDA inspectors found pools of dirty water on the floor and old, dirty processing equipment at Jensen Farms in Colorado where the cantaloupes were grown. In a peanut butter outbreak this year linked to 42 salmonella illnesses, inspectors found samples of salmonella throughout Sunland Inc.'s peanut processing plant in New Mexico and multiple obvious safety problems, such as birds flying over uncovered trailers of peanuts and employees not washing their hands.


Under the new rules, companies would have to lay out plans for preventing those sorts of problems, monitor their own progress and explain to the FDA how they would correct them.


"The rules go very directly to preventing the types of outbreaks we have seen," said Michael Taylor, FDA's deputy commissioner for foods.


The FDA estimates the new rules could prevent almost 2 million illnesses annually, but it could be several years before the rules are actually preventing outbreaks. Taylor said it could take the agency another year to craft the rules after a four-month comment period, and farms would have at least two years to comply — meaning the farm rules are at least three years away from taking effect. Smaller farms would have even longer to comply.


The new rules, which come exactly two years to the day President Barack Obama's signed food safety legislation passed by Congress, were already delayed. The 2011 law required the agency to propose a first installment of the rules a year ago, but the Obama administration held them until after the election. Food safety advocates sued the administration to win their release.


The produce rule would mark the first time the FDA has had real authority to regulate food on farms. In an effort to stave off protests from farmers, the farm rules are tailored to apply only to certain fruits and vegetables that pose the greatest risk, like berries, melons, leafy greens and other foods that are usually eaten raw. A farm that produces green beans that will be canned and cooked, for example, would not be regulated.


Such flexibility, along with the growing realization that outbreaks are bad for business, has brought the produce industry and much of the rest of the food industry on board as Congress and FDA has worked to make food safer.


In a statement Friday, Pamela Bailey, president of the Grocery Manufacturers Association, which represents the country's biggest food companies, said the food safety law "can serve as a role model for what can be achieved when the private and public sectors work together to achieve a common goal."


The new rules could cost large farms $30,000 a year, according to the FDA. The agency did not break down the costs for individual processing plants, but said the rules could cost manufacturers up to $475 million annually.


FDA Commissioner Margaret Hamburg said the success of the rules will also depend on how much money Congress gives the chronically underfunded agency to put them in place. "Resources remain an ongoing concern," she said.


The farm and manufacturing rules are only one part of the food safety law. The bill also authorized more surprise inspections by the FDA and gave the agency additional powers to shut down food facilities. In addition, the law required stricter standards on imported foods. The agency said it will soon propose other overdue rules to ensure that importers verify overseas food is safe and to improve food safety audits overseas.


Food safety advocates frustrated over the last year as the rules stalled praised the proposed action.


"The new law should transform the FDA from an agency that tracks down outbreaks after the fact, to an agency focused on preventing food contamination in the first place," said Caroline Smith DeWaal of the Center for Science in the Public Interest.


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City Answers Gang-Rape Cover-Up Allegations












As Steubenville, Ohio, prepares for the high-profile rape trial of two high school football players, officials, battling allegations of a cover-up, announced the creation of a new website today to debunk rumors and create what they said would be a transparent resource for the community.


"This site is not designed to be a forum for how the Juvenile Court ought to rule in this matter," the website, called Steubenville Facts, said.


A timeline of the case, beginning with the alleged gang rape of a 16-year-old girl at a party on Aug. 11-12, 2012, is posted on the site. Summaries of Ohio law relating to the case and facts about the local police force including statistics on how many graduated from Steubenville schools, is included.


The case gained national attention last week when hacking collective Anonymous leaked a video of Steubenville high school athletes mocking the 16-year-old female victim and making crude references to the alleged rape.






Steubenville Herald-Star, Michael D. McElwain/AP Photo







"It's disgusting, and I've had people calling, numerous people call here, upset, they have seen it, one woman, two women were crying, because of what they witnessed," Jefferson County Sheriff Fred Abdalla said. "It really is disgusting to watch that video."


Anonymous has called for more arrests, however Steubenville Police have said their hands are tied.


"Steubenville Police investigators are caring humans who recoil and are repulsed by many of the things they observe during an investigation," the website said, addressing the video. "Like detectives in every part of America and the world, they are often frustrated when they emotionally want to hold people accountable for certain detestable behavior but realize that there is no statute that allows a criminal charge to be made."


Occupy Steubenville, a grassroots group, estimated 1,300 people attended a rally today outside the Jefferson County Courthouse, where rape victims and their loved ones gathered to share their stories.


The father of a teenage rape victim was met with applause when he shared his outrage.


"I've tried to show my girl that not all men are like this, but only a despicable few," he said. "And their mothers that ignore the truth that they gave birth to a monster."


Authorities investigated the case and charged two Steubenville high school athletes on Aug. 22, 2012.


The teenagers face trial on Feb. 13, 2013 in juvenile court before a visiting judge.


Attorneys for the boys have denied charges in court.



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Tennis: Tsonga withdraws from Sydney event with injury






SYDNEY, Jan 5, 2013 (AFP) - French tennis star Jo-Wilfried Tsonga has withdrawn from next week's Sydney International with a hamstring injury, tournament organisers said on Saturday.

The world number eight pulled out of the last major lead-up event to this month's Australian Open after suffering the injury playing for France in the mixed teams Hopman Cup in Perth on Friday.

"Unfortunately Jo-Wilfried Tsonga sustained an injury in Perth and has been forced to pull out of the Apia International Sydney with a left hamstring injury," tournament director Craig Watson said.

"We wish him a speedy recovery and all the best for a successful Australian Open."

Tsonga became the second top seed to drop out of the Sydney event after French compatriot Richard Gasquet, the world number 10, pulled out for personal reasons, organisers said.

- AFP/fa



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