Two moderate earthquakes jolted the Northwest and the Southwest region of China separately on Tuesday. There was no immediate official confirmation about casualties or damages to properties. But houses in the mountain areas are reported to develop cracked walls and broken roof tiles. In the North-western province, about dozens of buildings are believed to have been damaged by the quake.
The epicenter of the earthquake in China was centered at 96 km from the Yining City and roughly 130 Km from the China-Kazakhstan border. The earthquake struck the remote North-western Xinjiang province at 8:21 am, local time. The magnitude of the earthquake, as recorded by the US Geological Survey, was 5.4 on the Richter scale.
Incidentally, the Xinjiang province had just had an earthquake in the month of August. It had left 3 people critically wounded and damaged about 30 residential buildings.
The other one that hit the Southwest region bordering the provinces of Sichuan and Gansu on Tuesday has recorded 5.5 on the Richter scale. The quake struck at 6 am.
Experts have been dispatched to the affected areas to assess the damage and initiate relief and rescue measures.
Monday, October 31, 2011
Australian airline Qantas to resume operation
Finally much to the relief of passengers and its fleet members, the Qantas airline is set to re-start its domestic and international flight operation from Monday. Rated as one of the largest global airways, the airline has suspended its entire fleet since last Saturday. This has affected nearly 68000 passengers worldwide. In the latest development, the Qantas has been ordered by a government tribunal to put a stop to the 14-month long industrial dispute.
In recent months, the leading airline has been plagued by a number of labor disputes over pay inequalities, working conditions and outsourcing of jobs. In spite of an appeal made by Julia Gillard, the Australian Premier, the Australian airline went on to cancel its entire 447 flights on Saturday. It also threatened to lock out its entire fleet members – from pilots and engineers to baggage and catering crews.
Alan Joyce, the Qantas CEO, has come under severe criticism for gross mishandling of the situation – fleet canceling and failure to control tension with the unions. The latest decision granted by the Australian tribunal gives both the parties 21 days to reach an agreement, failing which they would face arbitration.
The 90-year-old Australian airways is about to re-start its flight at 3:30 PM Australian local time on Monday. Though, a full restoration of operation globally might take some more time as its 108 plus aircraft are parked around the globe. Unions representing air and ground staff of international and domestic sectors of Qantas have expressed their hope for a “positive outcome” of the negotiation, and so are we. We hope for better days.
In recent months, the leading airline has been plagued by a number of labor disputes over pay inequalities, working conditions and outsourcing of jobs. In spite of an appeal made by Julia Gillard, the Australian Premier, the Australian airline went on to cancel its entire 447 flights on Saturday. It also threatened to lock out its entire fleet members – from pilots and engineers to baggage and catering crews.
Alan Joyce, the Qantas CEO, has come under severe criticism for gross mishandling of the situation – fleet canceling and failure to control tension with the unions. The latest decision granted by the Australian tribunal gives both the parties 21 days to reach an agreement, failing which they would face arbitration.
The 90-year-old Australian airways is about to re-start its flight at 3:30 PM Australian local time on Monday. Though, a full restoration of operation globally might take some more time as its 108 plus aircraft are parked around the globe. Unions representing air and ground staff of international and domestic sectors of Qantas have expressed their hope for a “positive outcome” of the negotiation, and so are we. We hope for better days.
Sunday, October 30, 2011
United States hit by unusual October snowstorm
It’s fall with Halloween barely a couple of days away, certainly not the time when you expect to be hit by severe blizzards. Yet on Saturday, most part of the North-Eastern United States was caught unaware as it witnessed a violent snowstorm all the way from Virginia to Maine. Nicknamed “snowtober,” for snow in October, the raging blizzard is reported to have emptied thick mass of ice, somewhere as deep as up to 30 cm.
Nearly 1.8 million people from Pennsylvania to New England were forced to stay indoors without electricity. Instead of spending the weekend in leisurely activities, people were reported stocking up their emergency supplies. Such was the condition in Washington that the White House had to suspend their Halloween party. By evening, the violent storm had gathered speed and changed into a violent Northeaster with wind speed of about 60 miles per hour.
Already since June 1st this year, the United States has been struck by 18 tropical storms coupled with 3-6 big hurricanes. October's Northeaster is a type that is usually seen in the middle of winter or end of autumn, certainly not before Halloween. What made the October’s snowstorm particularly interesting is the coming together of three unusual factors – high wind speed, heavy snow and trees that are in their near-green foliage.
As of now, people are anticipating very chilly Halloween. But, there’s a silver lining – this means early start of skiing season. Exciting! Isn’t it?
Nearly 1.8 million people from Pennsylvania to New England were forced to stay indoors without electricity. Instead of spending the weekend in leisurely activities, people were reported stocking up their emergency supplies. Such was the condition in Washington that the White House had to suspend their Halloween party. By evening, the violent storm had gathered speed and changed into a violent Northeaster with wind speed of about 60 miles per hour.
Already since June 1st this year, the United States has been struck by 18 tropical storms coupled with 3-6 big hurricanes. October's Northeaster is a type that is usually seen in the middle of winter or end of autumn, certainly not before Halloween. What made the October’s snowstorm particularly interesting is the coming together of three unusual factors – high wind speed, heavy snow and trees that are in their near-green foliage.
As of now, people are anticipating very chilly Halloween. But, there’s a silver lining – this means early start of skiing season. Exciting! Isn’t it?
Saturday, October 29, 2011
Europe calls for China to rescue Euro
Concerns over weak Euro have prompted EU leaders to seek out for Chinese investment. In what is seen as a major shift of power towards the East, top EU officials have initiated talk with China to rescue Europe with fresh funds. If this happens, this would give China the perfect opportunity to get a very strong hold in the Western financial world.
China indicated that it doesn’t want to be a mere spectator in the current debt crisis – Europe being their biggest trading partner. But Chinese government certainly needs to ensure that European heads meet certain key conditions – it doesn’t want to “throw away the countries wealth.” China has alluded that in exchange of emergency rescue fund, it expects European leaders, and the rest of the world, to stop criticizing its economic policy. In addition, it is also expected that China might demand various other concessions, which might include financial guarantees and concessions in trade policies, etc.
Klaus Regling, the head of the European rescue fund, on his visit to Beijing on Friday acknowledged that he doesn’t expect an immediate deal with China. Reports are going around that China has also made a tough proposal.
It is anticipated that if China choose to rescue Europe, it will bring the beginning of a new world order – overthrow the world’s most powerful financial power long held by the United States. Does that mean China is the new super power in the making? We have to wait and watch...
China indicated that it doesn’t want to be a mere spectator in the current debt crisis – Europe being their biggest trading partner. But Chinese government certainly needs to ensure that European heads meet certain key conditions – it doesn’t want to “throw away the countries wealth.” China has alluded that in exchange of emergency rescue fund, it expects European leaders, and the rest of the world, to stop criticizing its economic policy. In addition, it is also expected that China might demand various other concessions, which might include financial guarantees and concessions in trade policies, etc.
Klaus Regling, the head of the European rescue fund, on his visit to Beijing on Friday acknowledged that he doesn’t expect an immediate deal with China. Reports are going around that China has also made a tough proposal.
It is anticipated that if China choose to rescue Europe, it will bring the beginning of a new world order – overthrow the world’s most powerful financial power long held by the United States. Does that mean China is the new super power in the making? We have to wait and watch...
Thursday, October 27, 2011
A new accord to address Eurozone debt crisis
After some hard bargaining, European leaders have finally succeeded in striking an agreement that could tackle the much-awaited Euro crisis or Eurozone financial crisis. Under the agreement reached on Thursday early morning, European banks would absorb 50 percent losses on Greek debt and would also step up the rescue package from 440 billion Euros to 1.4 trillion Euros. This is expected to address three important issues on hand – Greece debt crisis, unstable banking sector and, finally, global economy.
The agreement calls for Greek private bondholders to voluntarily write off the bond value by 50 percent, which roughly amounts to 100 billion Euros. This is believed to bring down their spiralling debt burden from 150 percent to 120 percent of its economic output (GDP) by 2020.
As a first step, banks are required to raise new ‘safe’ capital – at least 150 billion Euros by June end. This is needed to shield themselves from the losses incurred on loans to capital-starve countries including Greece. That, in turn, should increase their risk-free asset holdings to 9 percent of the total capital.
Though definitely a positive step, it remains to be seen how this enormous amount would be funded. Question is, can they arrange for such a massive bail-out fund? Only time will tell.
The agreement calls for Greek private bondholders to voluntarily write off the bond value by 50 percent, which roughly amounts to 100 billion Euros. This is believed to bring down their spiralling debt burden from 150 percent to 120 percent of its economic output (GDP) by 2020.
As a first step, banks are required to raise new ‘safe’ capital – at least 150 billion Euros by June end. This is needed to shield themselves from the losses incurred on loans to capital-starve countries including Greece. That, in turn, should increase their risk-free asset holdings to 9 percent of the total capital.
Though definitely a positive step, it remains to be seen how this enormous amount would be funded. Question is, can they arrange for such a massive bail-out fund? Only time will tell.
Wednesday, October 26, 2011
Gaddafi given a secret burial
Muammar Gaddafi remains a mystery even after his death. The Libyan leader, known for his eccentricity and enigmatic nature, has been buried in an unknown location in Sahara desert on Tuesday morning. The deposed leader of Libya together with his son Mutassim and one of his ex-aids was given an Islamic burial five days following his capture and killing.
Khaled Tantoush, late Colonel Gaddafi’s cleric, who was also captured with the ex-Libyan head, read a prayer following which the bodies were shifted from Misrata after four days of public display. The bodies were then handed over to two National Transitional Council (NTC) loyalists for inhumation. The time of burial is suggested to be 5 am local time.
Earlier the body of the deposed Libyan ruler was put in a meat locker in the coastal city of Misrata for five days of public display.
One of the reasons for such top secrecy is that NTC wanted to avoid the attempt by Gaddafi loyalists to turn his burial site to become a shrine.
It is being said that the witnesses presented at Colonel Gaddafi’s burial had been sworn on the Holy Koran never to expose the true location of Gaddafi's grave.
Khaled Tantoush, late Colonel Gaddafi’s cleric, who was also captured with the ex-Libyan head, read a prayer following which the bodies were shifted from Misrata after four days of public display. The bodies were then handed over to two National Transitional Council (NTC) loyalists for inhumation. The time of burial is suggested to be 5 am local time.
Earlier the body of the deposed Libyan ruler was put in a meat locker in the coastal city of Misrata for five days of public display.
One of the reasons for such top secrecy is that NTC wanted to avoid the attempt by Gaddafi loyalists to turn his burial site to become a shrine.
It is being said that the witnesses presented at Colonel Gaddafi’s burial had been sworn on the Holy Koran never to expose the true location of Gaddafi's grave.
Monday, October 24, 2011
Amazon heat on publishers
Amazon, the world’s largest e-commerce site is soon going to into big-time publishing. Those who do not know, the premier shopping site has already been in the publishing business for several years. And this time the online retailer is creating a massive ripple in the publishing world with its ambitious expansion plan. The news is that Amazon is wooing top-notch fiction and non-fiction authors to bypass their publishers. This would not only place Amazon distinctively and fiercely in competition with New York’s publishing houses that have been its suppliers for years, but would also make the services of critics and literary agents redundant.
To give its flagship line a head start, the leading online company has hired the services of Laurence Kirshbaum, the ex-New York editor as the publishing head of Amazon. It has signed up an undisclosed deal with the noted self- help guru Timothy Ferriss in August this year. The inclusion of 34-year-old Timothy Ferriss as the first publishing writer in the leading company is seen as a natural choice as Ferriss is adept in new media (technology) as well as an expert in publishing himself. The writer is very much hopeful about the success of the technology company moving into publishing business in a big way. In mid-October, Amazon has also reportedly paid Penny Marshall, a noted actress and director a whopping $800,000 for her memoir.
Currently, Amazon is set to publish 122 books in various genres in the fall of 2011 – from e-book to physical form. Hailed for its deep pockets and unmatched distribution system, Amazon is trying to play down its goal to carve out a niche market. But traditional publishers are quite nervous about the new development as they have already been feeling the heat of rise in e-book sales for some time. But the new-age writers are not complaining. They seemed to be in a stronger bargaining position with their traditional publishers, at least for the time being. And so are the customers. For them book reading cannot get more interesting from the comfort of their home. Getting hands on just-launched books is like enjoying freshly baked cake straight from the oven!
To give its flagship line a head start, the leading online company has hired the services of Laurence Kirshbaum, the ex-New York editor as the publishing head of Amazon. It has signed up an undisclosed deal with the noted self- help guru Timothy Ferriss in August this year. The inclusion of 34-year-old Timothy Ferriss as the first publishing writer in the leading company is seen as a natural choice as Ferriss is adept in new media (technology) as well as an expert in publishing himself. The writer is very much hopeful about the success of the technology company moving into publishing business in a big way. In mid-October, Amazon has also reportedly paid Penny Marshall, a noted actress and director a whopping $800,000 for her memoir.
Currently, Amazon is set to publish 122 books in various genres in the fall of 2011 – from e-book to physical form. Hailed for its deep pockets and unmatched distribution system, Amazon is trying to play down its goal to carve out a niche market. But traditional publishers are quite nervous about the new development as they have already been feeling the heat of rise in e-book sales for some time. But the new-age writers are not complaining. They seemed to be in a stronger bargaining position with their traditional publishers, at least for the time being. And so are the customers. For them book reading cannot get more interesting from the comfort of their home. Getting hands on just-launched books is like enjoying freshly baked cake straight from the oven!
Saturday, October 22, 2011
Dramatic wipeout of Muammar Gaddafi
And finally justice has prevailed for the Libyans as the tyranny of Muammar Gaddafi met a brutal and shameful death. In his final hour, the self-proclaimed ‘King of Kings’ and his dwindling die-hard supporters were vastly outnumbered by National Transitional Council fighters (NCT). Colonel Gaddafi was captured while trying to flee from the coastal city Sirte, his home town and last strong hold, for the west. With his death comes an end of era marked by violent oppression and tyranny on Libyans and spread of instability and terror around the globe that lasted more than four decades.
Footage on Al Jazeera showed Muammar Gaddafi was captured alive. The fallen dictator of Libya had taken refuge in a highway drainage pipe after abandoning his jeep that he was using to escape from Sirte. His bloodied and staggering body was beaten and dragged through an angry and unrelenting crowd to an ambulance as he pleaded for forgiveness. Several conflicting accounts are coming out about the circumstances of his death. It is still to be known whether the Colonel died from gunshot wounds, bled to death in the ambulance on the way to Misrata or assassinated. There is also another version – he was shot in the chest by one of his guards. His partly naked body was driven to a mosque in Misrata (the western city) and DNA test was conducted. The forensic expert confirmed close-ranged bullet holes in his head and abdomen.
As of now, there is uncertainty about Colonel Gaddaffi’s burial. It has been postponed until a third party investigation over the circumstances of his death is carried out.
What a tragic end to a life that believed in violence and inflicting pain on others!
Footage on Al Jazeera showed Muammar Gaddafi was captured alive. The fallen dictator of Libya had taken refuge in a highway drainage pipe after abandoning his jeep that he was using to escape from Sirte. His bloodied and staggering body was beaten and dragged through an angry and unrelenting crowd to an ambulance as he pleaded for forgiveness. Several conflicting accounts are coming out about the circumstances of his death. It is still to be known whether the Colonel died from gunshot wounds, bled to death in the ambulance on the way to Misrata or assassinated. There is also another version – he was shot in the chest by one of his guards. His partly naked body was driven to a mosque in Misrata (the western city) and DNA test was conducted. The forensic expert confirmed close-ranged bullet holes in his head and abdomen.
As of now, there is uncertainty about Colonel Gaddaffi’s burial. It has been postponed until a third party investigation over the circumstances of his death is carried out.
What a tragic end to a life that believed in violence and inflicting pain on others!
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