Sanctions dodge: India to pay gold for Iran oil, China may follow

India has reportedly agreed to pay Tehran in gold for the oil it buys, in a move aimed at protecting Delhi from US-sanctions targeting countries who trade with Iran. China, another buyer of Iranian oil, may follow Delhi’s lead.

The report, by the Israeli-based news website DEBKAfile, states that Iran and India are negotiating backup alternatives with China and Russia, should the US and EU find a way to block the gold payment mechanism.

Delhi’s move is seen as surprising, as earlier India and Iran said they would switch to yen and rupees. China, another major importer of Iranian oil, may follow Delhi’s lead, the report adds.

India and China need to switch from the dollar in bilateral trade, since the US and EU have issued unilateral sanctions against the Iranian oil industry and financial institutions. The sanctions would ban any bank involved in oil trade with Iran from dealing with American and European counterparts.

Both India and China, two major buyers of Iranian oil accounting for 22 and 13 percent of its total export respectively, have refused to join such sanctions. This means they have to establish a reliable way of paying for crude, independently of the parts of the global financial system controlled by New York and London.

Delhi’s current plan is to effect payments through two state-owned banks, India’s UCO Bank and Turkey’s Halk Bankasi, Turkey being another country refusing to join the sanction spree.

The US issued sanctions against Iran in December, aiming to put pressure on the Islamic Republic and make its controversial nuclear program more transparent. The EU joined the initiative on Monday, banning new oil contracts with Iran, but allowing current ones to be fulfilled.

Australia on Tuesday became the latest country to voice plans for such an embargo, although the move would be more symbolic than practical, considering the country’s small share in Iran’s oil export.

Japan and South Korea, two other major buyers of Iranian crude, are in talks with Washington over the issue, although both Seoul and Tokyo are worried that stopping their imports could hurt their economies.

Iran, which is highly dependent on its sales of oil, is reacting to the sanction campaign nervously. Tehran says it will not yield to pressure, and threatens to block the Strait of Hormuz, a key oil tanker route in the Persian Gulf.

A presto

Haki

Via | flipsideoftheeconomy

A importancia do futuro, a beleza dos sonhos, o trabalho para crescer na vida!!

 

 

 

 

 

 

 

 

“Você vê coisas e diz: Por que?; mas eu sonho coisas que nunca existiram e digo: Por que não?” *
(George Bernard Shaw)

SAVE THE INTERNET– About PIPA, the Protect-IP Act - Learn about these destructive bills.

Thanks to action by a broad and bipartisan coalition of Internet users, companies, and organizations, the U.S. House of Representatives has now put the brakes on SOPA, a well-intentioned but deeply flawed bill that would use Internet censorship to combat overseas copyright infringement. Even President Obama's White House has joined the opposition.

But nevertheless, the Senate is continuing to move forward — and fast — with its equally dangerous version of the bill, called PIPA, the Protect-IP Act. As written, PIPA would import censorship and surveillance techniques pioneered by countries like China and Iran, reversing longstanding U.S. policy on Internet freedom, betraying U.S. First Amendment values, damaging our standing around the world, threatening our job-creating innovators, and undermining Internet security for everyone.

Today is a day for action across the Internet. Learn about these destructive bills. Tell your Senator what you think. Congress needs to hear from you.

Read More: EFF, CDT, Future of Music Coalition, Heritage Foundation, Stop American Censorship, ReadWriteWeb

Barack Obama Calls for Tax Breaks to Return Jobs From Abroad By MARK LANDLER

WASHINGTON — President Obama said on Wednesday that he would propose tax incentives for companies to bring home manufacturing jobs they had moved overseas, and curtail tax breaks for those that keep relocating jobs abroad.

Flanked by executives from the aerospace, chemical and furniture industries — all of whom are building or expanding factories in the United States — Mr. Obama declared that the nation was beginning to see the reversal of a long-term trend toward outsourcing. He called the new trend, perhaps inevitably, “insourcing.”

“We’re at a unique moment, an inflection point, a period where we’ve got the opportunity for those jobs to come back,” Mr. Obama said in the White House, after meeting with the executives. The American economy, he noted, has added manufacturing jobs for two years in a row, after more than a decade of losses.

The president did not offer details of the tax proposals, which presumably would be subject to approval by Congress, though he renewed his call on lawmakers to approve a one-year extension of the payroll tax cut that will expire at the end of February.

Mr. Obama said an increase in labor costs in China was eroding its advantage over the United States as a manufacturing base, a message the White House sought to buttress by circulating a research report from the Boston Consulting Group, a prominent management consulting organization. The president also said recent trade agreements with South Korea, Colombia and Panama would open markets for American exports.

Economists said small changes in tax policy would play only a marginal role in deciding where companies build factories. But with labor costs rising overseas, such changes could help reinforce a fledgling trend, they said. “There’s been a little bit of momentum on ‘insourcing’ because a lot of firms overdid it,” said Jared Bernstein, the former chief economic adviser to Vice President Joseph R. Biden Jr. “So it could help a bit at the margin.”

Mr. Obama cited examples from companies represented in the room: Ford Motor, which the president said had moved 2,000 jobs back to the United States; Master Lock, which relocated manufacturing to Milwaukee from China; and Lincolnton Furniture, a specialty manufacturer, which set up shop in North Carolina after its owner, Bruce Cochran, closed a family-owned furniture company in 1996 and spent time consulting with companies about moving operations to China and Vietnam.

“I don’t want America to be a nation that’s primarily known for financial speculation, and racking up debt and buying stuff from other nations,” the president said. “I want us to be known for making and selling products all over the world stamped with three proud words, ‘Made in America.’ ”

Mr. Obama’s message served as a riposte to the Republican front-runner, Mitt Romney, who repeated his charge Tuesday, in his speech after the New Hampshire primary, that the president was hostile to free enterprise.

One of the executives at the meeting, James M. Guyette of Rolls-Royce North America, said his company was making investments in Indiana, where it builds aircraft engines, and in Virginia, where it opened an advanced manufacturing and research campus last year that will eventually employ 500 people.

In an interview, Mr. Guyette said Rolls-Royce was not actually moving operations back to the United States. But he said it was pouring money into American operations, like a factory in Indianapolis that once had the company’s highest labor costs and lowest productivity. Negotiations with the United Automobile Workers union had cut those costs, he said, and made the factory competitive again. “Everyone could see where this road was going to end, if we didn’t do it differently,” he said.

Via | Nyt

FOTO HISTÓRICA: A chegada do corpo do Saudoso Presidente Dr. Agostinho Neto à Luanda...

Henriques Teles Carreira (IKO) e João Luís Neto (XIETU)....Comandantes!

African Cup of Nations-bound Palancas Negras of Angola arrived in the Federal Capital, Abuja

A 39-man contingent of the 2012 African Cup of Nations-bound Palancas Negras of Angola arrived in the Federal Capital, Abuja on Tuesday ahead of today’s international friendly game against the Super Eagles of Nigeria.

The delegation touched down at the Nnamdi Azikiwe International Airport at 4.33pm aboard a chartered aircraft, which will fly the team back to Luanda on Wednesday evening immediately after the match.

President of the Federacao Angolana de Futebol, Mr. Pedro de Morais Neto led the delegation, which also included vice presidents of the Federation, the Head Coach, four Assistant Coaches, team manager, journalists, psychologist, team doctor, physiotherapist, equipment manager and 22 players. The team trained on Tuesday night at the mainbowl of the National Stadium.

They were received on arrival by General Secretary of the Nigeria Football Federation, Barrister Musa Amadu and the Director of Technical, Dr. Emmanuel Ikpeme, as well as a battery of media representatives.

The Palancas Negras and officials are quartered at the Transcorp Hilton hotel, and will have a light walk-out on Wednesday morning. The match co-ordination meeting will also take place on Wednesday morning, at the NFF Secretariat.

FIFA referee Aguidissou Crespin from Republic of Benin will be at the centre, to be assisted by compatriots Padonou Prosper (1st Assistant) and Fassinou Alexis (2nd Assistant). Nigerian FIFA referee Bunmi Ogunkolade will be the fourth official.

The Nigeria Football Federation reiterated on Tuesday that gates will be thrown open for the match.

Amadu said: “We want Nigerians to come out en masse to the National Stadium, Abuja and bond together, and also support the Super Eagles in this match against Angola.

It is an important game for our team as it prepares for the African Cup of Nations qualifying match against Rwanda next month”.

The Super Eagles will fly out to Monrovia on Friday for another international friendly match, this time against the Lone Star of Liberia, which will take place at the Antoinette Tubman Stadium in Monrovia on Sunday, 15th January.

Coach Jose Carlos Vidigal expects a tough game from the Super Eagles as his wards set into the final stages of preparation for the three-week, 16-nation African Cup of Nations in Gabon and Equatorial Guinea, starting next week.

On his part, Nigeria’s Coach Stephen Keshi will have a good look at the boys he has been drilling at residential camping since last month, with a view to seeing which of them would be good enough to win shirts in the team to face Rwanda in a 2013 African Cup of Nations qualifier in Kigali next month.

VVG

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