Anti-reforms strike cripples Paris
Palash Biswas
Contact: Palash C Biswas, C/O Mrs Arati Roy, Gosto Kanan, Sodepur, Kolkata- 700110, India. Phone: 91-033-25659551
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Palash
Anti-reforms strike cripples Paris
Paris came to a halt on Tuesday after seven labour unions went on strike, protesting President Nicolas Sarkozy's plans to reform labour laws.
Media reports said one in 15 subway trains and about 15 percent of buses were operating on Wednesday, but the strike halted commuter trains around Paris, stranding suburban commuters.
Protestors are angry at Sarkozy, who promised early this year to revive France's economy and open up the job market by stripping away enshrined labour protections.
The nationwide strike led to traffic jams, as more and more people turned to their cars instead of public transport.
"I'm fed up of this," said one woman at Saint Lazare train station, where electronic boards warned passengers of disruptions to service.
The proposed reforms focus on special pension plans, which allow some workers -- mostly train drivers -- to retire as early as 50.
The strikes coincide with the commercial launch of a new Eurostar service, connecting Paris Gare du Nord with the new St. Pancras terminal in Waterloo.
Under the French law, the strike won't lead to complete shutdown of the transit systems. As a result, 90 of 700 high-speed trains will run, as well as one in every 10 commuter trains.
Does French 'people power' rule OK?
By Henri Astier
BBC News
Protests defeated pension reform in 1995 - will history repeat itself?
The French trade unions staging a series of strikes and protests against a pension-reform plan are following a well-established procedure.
The government calls for urgent change and draws up a proposal; those affected paralyse much of the country; the plan is shelved.
This may not be the way the constitution says laws should be made, but France has a time-honoured tradition of legislating from the street.
French-style people power has even acquired a force that trumps representative rule.
Last year students and unions - who are at the forefront of the current revolt - objected to a move that made it easier to hire and fire young people.
The law was abandoned, although it had been overwhelmingly approved by the national assembly.
The climbdown was widely seen as a wise move: protesters in France often have more legitimacy than mere MPs.
Precedent
The mother of all showdowns between parliamentary and street power took place in the winter of 1995.
PEOPLE POWER IN FRANCE
2006: Job youth plan shelved
2005: School reform dropped
2000: Protests force concessions on fuel taxes
1996: pension reform ditched
1994: Youth wave plan scrapped
1993: Air France reorganisation dumped
History of protests
There are several parallels with the current revolt. Then, as now, the unions took on a right-of-centre reformist president who had been elected only half-a-year earlier.
And then, as now, the battle was also fought over the special pension rights enjoyed by some public sector workers - such as train drivers who can retire on a full pension as early as 50.
The law, which had been duly debated and approved by parliament, was shelved to universal relief.
Thereafter, no French politician dared to touch special pension privileges - until President Nicolas Sarkozy.
Will history repeat itself? Can Mr Sarkozy stand up to protesters who have so often been the arbiters of power in France?
On the bright side
The president can take comfort from two facts.
The first is that despite France's long history of revolts - its national day, indeed, celebrates a bloody riot - the practice of legislating from the street is relatively new.
Nicolas Sarkozy insists he will not back down
May 1968 is often cited as an example of student power. But its upshot was a victory for representative rule, when a June snap election resoundingly won by the conservatives put an end to the demonstrations and strikes.
As recently as 1992, when lorry drivers set up blockades to express their anger at a new point-based driving permit, the Socialist government refused to budge and sent tanks to clear the roads.
The memory of representative rule is still fresh in French minds. Mr Sarkozy's contention that he, unlike the protesters, has a popular mandate does not sound incongruous to many of his countrymen.
This leads to the second point in Mr Sarkozy's favour - most voters regard the special pension regimes as privileges that should be scrapped.
An opinion poll published on Wednesday suggests that 58% of French people feel the government should stand firm. Only 34% want it to back down.
Mr Sarkozy himself remains popular, with 55% of those surveyed voicing support - more than his score in May's presidential election.
Lonely at the top
All this explains why unions are not solely banking on street power to prevail.
They are also trying to influence policy in the way it is done in most democracies - through negotiations with the government.
The opposition Socialists, for their part, are careful not to oppose pension reform in principle - just the confrontational way the government is going about it.
None of this was true in 1995, when demonstrators, riding a wave of support, were intent on giving the government a bloody nose.
But Mr Sarkozy's strong showing in the polls is no guarantee that he will win the current battle. Popular support is a fickle thing, and if the protest movement spreads in the coming weeks, as it very well might, Mr Sarkozy's poll ratings could slip.
Furthermore, the main characteristic of the French political system remains - weak parliamentary rule.
Mr Sarkozy has promised constitutional changes aimed at strengthening the power of the assembly. But this will not happen until next year.
In the meantime, he will have to face down the unions pretty much by himself, and stop the street being the main locus of political debate.
Sebi board approves new derivatives products
The Sebi board met in Chennai and has approved new derivatives products. It has approved the introduction of volatility index and F&O contracts, as well as options on futures, reports CNBC-TV18.
Apart from that, the board approved mini contracts on equity indices. Options with longer tenor, bond indices and F&O contracts have also been approved. It has approved exchange-traded currency (forex) F&O.
The Sebi Chairman has been speaking about the expansion of the derivative market. We trade normally between USD 15-20 billion on a daily basis in the market. Analysts said that it was time that we expand the market to various derivative products. That is what the Ram Mohan Rao Committee on derivatives has done. It has suggested a lot of derivative products to the Sebi Board and the Board has accepted the interim recommendation.
Now, the Committee was set up on March 30 this year. Within a span of 6-7 months, they have come out with interim recommendations. Analysts added that these are just interim recommendations that have been approved by the Sebi board and it requires a lot of regulatory work to be done, before these products can come into the market.
Among the products that have been approved are the mini contract on equity indices. Currently, the minimum value of equity indices or any futures contract has to be Rs 2 lakh. It is understood that mini contracts would mean less than Rs 2 lakh. That could require some regulatory permission, because the Rs 2 lakh figure was approved by the Parliamentary Standing Committee on Finance, and it has to go through that Committee which has to approve it.
That is the reason why none of the contracts were brought down below Rs 2 lakh, in terms of contract value. There were options with longer life and longer tenor, which basically means that we are looking at LEAS or Long-term Equity Anticipation Securities, which is the expanded version of the current options in the market.
The options market has also grown big, but it is not as big as the futures market. But there is very little interest coming in the second and third month contracts. According to analysts, we need to see how the long-term options contract will work out, because eventually it would mean that the long-term options contract would be much cheaper, as compared to the current options contract. So, it is a move in the right direction. But it will require a lot of regulatory framework and a lot of risk framework before it can come out in the open.
I
ndices up 4%: Banks soar
14 Nov, 2007, 1455 hrs IST, INDIATIMES NEWS NETWORK
MUMBAI: Equities gained further momentum driving the Sensex nearer to the 20,000 mark. At 2:45 pm, BSE's Sensex was up 835 points or 4.39 per cent at 19,870.25.
Banking and oil led the advances. HDFC Bank (up 10.24%), ICICI Bank (7.48%), HDFC (6.86%), Reliance Industries (6.33%) and Infosys (5.38%) were the biggest gainers.
Hindustan Unilever, down 0.62 per cent and Bajaj Auto, down 0.14 per cent, were the only Sensex losers.
The Nifty was up 222 points or 3.9 per cent at 5917.4.
Market breadth showed 965 advances and 222 declines on NSE, while 2034 shares advanced and 726 declined on BSE.
Global markets continued to send green signals with a strong opening in Europe. FTSE was up 1.25 per cent, CAC added 1.17 per cent and DAX gained 0.74 per cent.
In full: Brown anti-terror speech
Here is the full text of prime minister Gordon Brown's Commons statement on anti-terrorism measures.
http://news.bbc.co.uk/2/hi/uk_news/politics/7094620.stm
Mr Speaker, in advance of the National Security Strategy which will be published in the next few weeks - and following the statement by the head of MIS about the potential threat from UK-based terrorists - I want to update the House, as I promised in July, on the measures we are taking at home - following the incidents on June 29th and June 30th - both to root out terrorism and to strengthen the resilience of communities to resist extreme influence measures that to succeed will require not just military and security resources but more policing, more intelligence, and an enhanced effort to win hearts and minds.
Let me first of all thank the police, the security services and the armed forces for their vigilance, their service and their courage in facing up to terrorist threats.
Mr Speaker, the terrorist attacks in June revolved around an attempted bomb attack on a London venue where hundreds congregated and a vehicle bomb attack on Glasgow airport.
The conclusions today of the review by the Noble Lord West on the protection of strategic infrastructure, stations, ports and airports - and of other crowded places - identifies a need to step up physical protection against possible vehicle bomb attacks.
This will include, where judged necessary, improved security at railway stations - focusing first on those of our 250 busiest stations most at risk - and at airport terminals, ports and at over one hundred sensitive installations.
The report proposes the installation of robust physical barriers as protection against vehicle bomb attacks, the nomination of vehicle exclusion zones to keep all but authorised vehicles at a safe distance, and making buildings blast resistant.
While no major failures in our protective security have been identified, companies that are responsible for crowded places will now be given detailed and updated advice on how they can improve their resilience against attack, both by better physical protection and greater vigilance in identifying suspicious behaviour.
New guidance will be sent to thousands of cinemas, theatres, restaurants, hotels, sporting venues and commercial centres, and all hospitals, schools and places of worship - and this will include advice on training staff to be more vigilant.
Up to 160 counter-terrorism advisers will train civilian staff to identify suspect activity and to ensure premises have secure emergency exits, CCTV footage used to best effect, and regular searches and evacuation drills.
From now on, local authorities will be required as part of their performance framework to assess the measures they have taken to protect against terrorism.
We will now work with architects and planners to encourage them to "design-in" protective security measures into new buildings, including safe areas, traffic control measures and the use of blast resistant materials - and for this I am grateful for the recommendations of the Hon Member for Newark, whom I thank for his work.
Following further work we will report back soon on what more we need to do to strengthen security to protect against the use of hazardous substances for terrorist purposes.
Mr Speaker, just as we are constantly vigilant to the ways in which we can tighten our security, so too we must ensure that the travelling public are able to go about their business in the normal way.
In the most sensitive locations, for example some large rail stations - and whilst doing everything to avoid inconvenience to passengers - we are planning additional screening of baggage and passenger searches.
But in the last few months at key airports there has already been additional investment in new screening capacity. We have been able to review the one-bag per passenger rule and the Transport Secretary is announcing today that as soon as we are confident that airports are able to handle additional baggage safely, these restrictions on hand baggage will be progressively lifted.
Starting with several airports in the new year, we will work with airport operators to ensure all UK airports are in a position to allow passengers to fly with more than one item of hand luggage.
Mr Speaker the security budget - which is two and a half billion pounds this year - will rise to three and a half billions in 2011.
Because of the terrorist threat, the size of the security service - which was under 2,000 in 2001 and is 3,300 now - will rise beyond 4,000, twice the size of 2001.
I can report that we have now constituted dedicated regional counter terrorism units - with in total more than 2000 police and support staff and these are responsible for overseeing investigations into those who recruit terrorists and promote hate.
From the Home Office budget, from now until 2011, an additional £240 million will finance counter terrorism policing - focused as much on preventing the next generation of terrorists as pursuing current targets.
And this will include additional funding for further training of our 3,500 neighbourhood police teams to deal with radicalisation in their local communities.
The scale of our international effort is such that around £400 million over the next three years will be invested through the Foreign Office, DfID and the British Council to tackle radicalisation and promote understanding overseas.
And the Government will report back on action overseas with other countries to counter extremism when we launch the National Security Strategy.
I can confirm £70 million is being invested in community projects devoted to countering violent extremism.
So in total we are now investing three times as much in security now compared with six years ago.
Mr Speaker, in line with the measured way we responded to the terrorist incidents in June, we will only seek new powers that are essential to the fight against terrorism.
In the forthcoming Counter Terrorism Bill - that will be introduced shortly - there will be stronger sentences for terrorist-related offences and, where terrorists have served sentences, new powers for the police to continue to monitor their activities.
Asset freezing is an important tool in the fight against terrorists buying weapons or using money for terrorist purposes.
Sophisticated evidence gathering of financial transactions can both deny terrorists finance and locate the sources of terrorists plots.
Current legislation, however, makes it difficult for us to take preventative action, so the new Bill will give us new powers to ensure we can use all available information to pursue those who finance terrorist attacks.
In addition to measures to process terrorist cases more efficiently and reduce the time between arrest and trial - including 14 new specially protected courtrooms - a single senior Judge has been nominated to manage all terrorism cases.
There will also be a single senior lead prosecutor in the Crown Prosecution Service responsible for cases relating to inciting violent extremism.
Mr Speaker, to ensure we protect our borders and detect possible terrorist suspects, members of the new UK Border Agency will have the power, from January next year, to detain people not just on suspicion of immigration offences or for customs crime but also for other criminal activities including terrorism.
Powers are also being given to airline liaison officers to cancel visas where justified.
In line with the statement I made in July, there will be one single primary checkpoint for both passport control and customs. The UK Border Agency - which will have 25,000 staff - will now apply controls at points of entry and exit on people and goods, into and out of the United Kingdom, as well as working throughout the world.
And the new Agency will enable us to transfer intelligence from UK operations overseas to those making visa decisions, and to check biometrics taken from visa applicants against criminal and counter-terrorism records.
Further details of the new Border Agency - which has been welcomed by the Association of Police Officers - are published in the Cabinet Office report issued today.
This will go hand in hand with what is increasingly necessary - biometric visas for all applicants from March next year, biometric ID cards for foreign nationals introduced from the end of 2008, and a strengthening of the E-borders programme, with the contract to incorporate all passenger information awarded today.
Having agreed repatriation arrangements for foreign terrorist suspects with Jordan, Lebanon and Algeria, work is underway with a number of additional countries with a view to signing new agreements.
In addition to the nine foreign nationals recently deported under immigration powers on grounds of national security, a further 24 foreign nationals are currently subject to deportation proceedings on national security grounds. And 4000 foreign prisoners are likely to be deported this year.
Mr Speaker, all faith communities in the UK make a huge contribution to all spheres of our national life. They are integral to our success as a society.
And as we found - listening to all communities in June - the vast majority of people, of all faiths and backgrounds, condemn terrorists and the actions of terrorists.
But the objective of Al Qaeda and related groups is to manipulate political and humanitarian issues in order to gain support for their agenda of murder and violence - and to deliberately maim and kill fellow human beings, including innocent women and children, irrespective of their religion. We must not allow anyone to use terrorist activities as a means to divide us or isolate those belonging to a particular faith or community.
So to deal with the challenge posed by this terrorist threat we have to do more, working with communities in our countries:
First to challenge extremist propaganda and support alternative voices
Second, to disrupt the promoters of violent extremism by strengthening our institutions and supporting individuals who may be targeted
Third, to increase the capacity of communities to resist and reject violent extremism
And fourth, to address issues of concern exploited by ideologues and where by emphasising our shared values across communities we can both celebrate and act upon what unites us
This will be achieved not by one single programme or initiative and it won't be achieved overnight.
It is a generational challenge which requires sustained work over the long term and by a range of actions in schools, colleges, universities, faith groups and youth clubs; by engaging particular young people through the media, culture, sport and arts; and by acting against extremist influences operating on the internet and in institutions from prisons to universities and some places of worship.
As part of intensifying measures to isolate extremism, a new unit bringing together police and security intelligence and research will identify, analyse and assess not just the inner circle of extremist groups but those at risk of falling under their influence - and share their advice and insights.
Building on initial roadshows of mainstream Islamic scholarship around the country, which have already attracted over 70,000 young people, and an internet site which has reached far more, we will sponsor at home and then abroad, including for the first time in Pakistan, a series of national and local events to counter extremist propaganda.
And the next stage will draw on the work commissioned by the Economic and Social Research Council, Kings College and the Royal Society for Arts on how best to deal with radicalisation at home and abroad.
One central issue is how to balance extremist views supporting terrorism which appear on the internet and media.
The Home Secretary is inviting the largest global technology and internet companies to work together to ensure that our best technical expertise is galvanised to counter online incitement to hatred.
I also welcome the decision by the Royal Television Society and Society of Newspaper Editors to hold a conference on how to ensure accurate and balanced reporting of issues related to terrorism in the media.
To ensure charities are not exploited by extremists, a new unit in the Charity Commission will strengthen governance and accountability.
A specialist unit in the Prisons Service will be tasked with stopping extremists using prison networks to plot future activities.
And because young people in the criminal justice system are especially vulnerable to extremist influences, we are making further funding available through the Youth Justice Board, the National Offenders Management Service and the many voluntary agencies that work with young people in trouble to support young people who may be targeted for recruitment by extremist groups.
Following evidence that some of those involved in promoting violent extremism have made use of outdoor activity sports centres and facilities, we are working with Sport England to provide guidance for the sector to ensure that these facilities are not abused.
And backed up by a new website to share best practice, a new board of experts will advise local authorities, local councillors and local communities on tackling those promoting hate.
We have had mosques in the UK for more than a hundred years, serving local communities well.
These communities tell me that mosques have a much wider role beyond their core spiritual purpose in providing services, educating young people and building cohesion - and the majority already work very hard to reject violent extremism.
As the newly constituted Mosques and Imams National Advisory Body recognises however, the governance of mosques could be strengthened to help serve communities better and to challenge those who feed hate.
Our consultations with Muslim communities emphasise the importance of the training of imams, including English language requirements - and the Secretary for Communities will be announcing an independent review to examine, with the communities, how to build the capacity of Islamic seminaries, learning from other faith communities as well as experience overseas.
In addition to updated advice for universities on how to deal with extremism on the campus, the Secretary for Skills and the Higher Education Minister will invite universities to lead a debate on how we maintain academic freedom whilst ensuring that extremists can never stifle debate or impose their views.
And we will now consult also on how we can support further education colleges as well as universities.
And the Secretary of State for Culture is working with the museums, libraries and archives council to agree a common approach to deal with inflammatory and extremist material that some now seek to distribute through public libraries, whilst also protecting freedom of speech.
We know that young people of school age can be exposed to extremist messages.
The Secretary of State for Children will be convening a new forum of headteachers to advise on what more we can do to protect young people and build bridges across communities.
And to ensure young people have the opportunity to learn about diversity and faith in modern Britain, we will work in partnership with religious education teachers to promote the national framework for teaching religious education in schools including making sure children learn about all faiths.
An advisory group will work with local communities to support citizenship education classes run by mosque schools in Bradford and elsewhere.
And I can announce that one essential part of this will be to twin schools of different faiths with our £2 million pound school linking programme, supported by a new national website and School Linking Network.
I am also announcing today a youth panel to advise the Government - learning from youth projects in different parts of the country, which all enable young people to debate and discuss issues of concern - as does the work of the Youth Parliament, which has been running debates about the impact of terrorism on young people.
And we are sponsoring and encouraging a series of national and local mentoring programmes for young people:
A Business In The Community Muslim mentoring programme
New leadership training and local youth leadership schemes in Blackburn, Waltham Forest, Leeds and in partnership with Tottenham in Haringey
After discussion with Muslim women, a new advisory group has been set up by the Secretary for Communities.
And this will advise on the access of women to mosques and their management committees.
Mr Speaker, it is by seeking to build on shared interests and shared values that we will isolate extremists and foster understanding across faiths.
Following the recent remarkable letter by 138 Muslim scholars - from a diversity of traditions within Islam - which paid tribute to the common roots of Islam, Christianity and Judaism and called for deeper dialogue, we stand ready to support in Britain new facilities for multi-faith scholarship, research and dialogue.
A green paper will be published to encourage interfaith groups to come together in all constituencies of our country.
I am also inviting the Higher Education Funding Council to investigate the idea of setting up in Britain a European Centre of Excellence for Islamic studies.
We will have joint work with the French and German governments on building an appreciation of Islamic and Muslim heritage across Europe, the Arts Council England, Tate Gallery, the Victoria and Albert Museum and British Library will all be taking forward projects to promote greater understanding of the contribution of Islam to European history and culture.
And just as the British Council is connecting young people across the world through school twinning and volunteering exchanges, I am announcing that we will finance a rising number of young people from all faith communities to volunteer overseas.
Mr Speaker, the intercept review will report in January, we believe a consensus now exists on post-charge questioning. The Home Secretary is beginning a new round of consultations with parties and communities on detailed proposals on pre-charge detention where we believe we can establish a cross-party consensus.
Mr Speaker, there is no greater priority than the safety and security of our people and building the strongest possible relationships across all faiths and communities - and I believe it possible, with the actions we are proposing, to build a stronger consensus that will both root out terrorist extremism and build more vibrant and cohesive communities.
India sees revival in industrial output
NEW DELHI (Reuters) - Sluggish growth in industrial output in September was due to a weaker dollar and a comparison with strong expansion a year ago, and should revive in coming months, the trade minister said on Wednesday.
Analysts, however, warn that high interest rates, a firm rupee, high oil prices and a possible slowdown in exports to the United States may weigh on Asia's third-largest economy.
"I am hopeful manufacturing will revive," Kamal Nath told reporters on the sidelines of a conference, when asked about the outlook for industrial growth.
"There has been a decline (as compared to September last year) because of two reasons. One is a weak dollar and second the growth in September has been on a higher base," Nath said.
Industrial production in September rose 6.4 percent from a year earlier, sharply lower than annual growth of 10.7 percent in August and below estimates of 9.9 percent.
Manufacturing, which contributes 79 percent to industrial output, grew by 6.6 percent in September.
The rupee has risen 12.5 percent against the dollar this year and squeezed margins of exporters, especially in textiles, auto and software sectors.
Some firms have cut output and jobs.
Nath said the government would review the export target for 2007/08 sometime this month. At present, the target is $160 billion for the year to March 2008.