Colorado town in the thick of fracking dispute

Longmont, COLORADO: The US oil and gas industry is condemning a move by one Colorado town to impose its own ban on the practice of hydraulic fracturing.

Voters in Longmont have chosen to outlaw the controversial practice within city limits, but drillers and the state government said the city has overstepped its bounds.

Space for large houses with mountain views -- one of the reasons the population of the Colorado city of Longmont has grown steadily over the past twenty years. But some residents are not happy with a new neighbour that has moved in recent years.

Natural gas wells and pipelines have sprung up around Longmont - often very close to subdivisions.

Michael Bellmont, one of the activists involved in a recent campaign to ban hydraulic fracturing in Longmont, said modern fracking practices use chemicals that can contaminate surrounding air and water, and is dangerous to health.

He said: "if you live within half a mile of these wells, one is 250 per cent more likely to have negative and chronic health impacts, and 60 per cent more likely to get cancer."

The majority of Longmont voters agree with Bellmont -- in November, they approved the ban on hydraulic fracturing in the city by a 60 to 40 per cent margin.

That ban has triggered a row with the oil and gas industry, which already leases land and drills in Longmont, and maintains fracking is safe.

Colorado governor John Hickenlooper -- a supporter of the oil and gas industry -- expects drilling companies to sue to overturn the ban.

Tisha Conoly Schuller, president and CEO of the Colorado Oil & Gas Association, said: "The oil and gas industry -- we're evaluating our options, and then the state government has also been looking at their options. So I imagine we will see a lawsuit in Longmont, and there's lots of different ways it could come about."

Environmentalists are locked in a heated debate with county and state regulators over the issue -- including proposed rules on how far wells should be from people's homes.

Dr William Fleckenstein of the Colorado School of Mines said: "It adds a lot of jobs, there's a lot of rigs that are there. But at the same time, the rigs that are drilling -- the pipelines are going to impact people's lives and the industry has to take into account those impacts."

In Longmont, the city is gearing up for a protracted and expensive legal battle -- one which could set a precedent for other towns and cities that want to take matters regarding fracking into their own hands.

-CNA/ac

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Philippines set to quit Marcos wealth chase

MANILA: The Philippines is to wind down a near-30-year hunt for the embezzled wealth of late dictator Ferdinand Marcos, with more than half the supposed $10 billion fortune still missing, the man in charge of the search said.

With Marcos' widow and children back in positions of political power, and the government tightening its belt, the cost of the pursuit has become prohibitive, said Andres Bautista, head of the Presidential Commission on Good Government.

"It has become a law of diminishing returns at this point," Bautista told AFP in an interview at the commission's offices, a now rundown building where Marcos' oldest daughter Imee used to hold office.

"It's been 26 years and people you are after are back in power. At some point, you just have to say, 'We've done our best', and that's that. It is really difficult.

"In order now to be able to get these monies back, you need to spend a lot."

Bautista, 48, left a high-paying corporate job two years ago to answer a call to help the government of President Benigno Aquino, who promised to end corruption and uplift the lives of millions of poor Filipinos.

He and like-minded young lawyers who joined the agency soon found out that reforming the under-funded commission -- itself prone to corruption -- while at the same time going after powerful people, was no easy task.

Despite numerous criminal and civil cases being filed against them, none of the Marcos heirs or their cronies, who have been accused of plundering government coffers, have so far been successfully prosecuted, while high-powered lawyers have been used to tie up the judicial process for years on end.

Long-term chronic mishandling of the commission led to an unmanageable paper trail and evidence went missing that led to bitter losses in litigation, Bautista said.

"These accusations (against the commission officials) are not without basis. They were the ones in charge of guarding the chicken coop and some of them helped themselves to the eggs," he said, refusing to name names.

The president's late mother and democracy icon, Corazon Aquino, replaced Marcos after a bloodless people power revolt ended his 20-year regime in 1986 and sent him and his family into US exile.

She made it her first priority to create the commission, tasked with recovering all of Marcos's wealth. Conservative estimates put the worth of assets and funds looted from government coffers at $10 billion.

But before she left office she allowed Marcos's flamboyant widow, Imelda -- known for her thousands of pairs of shoes -- and their son and two daughters to return home.

And over the past two decades the Marcoses have regained and consolidated their political base.

Marcos's son and namesake, Ferdinand Marcos Junior, is a senator who has hinted at contesting the presidency in the 2016 elections.

Imelda is expected to run for a second term in the House of Representatives in May 2013, while her daughter Imee, governor of the family's Ilocos Norte provincial bailiwick, is also widely thought to want a second term.

"There is still a lot of mystery surrounding the fabled wealth, and my sense is there is still much more out there," Bautista said.

"Our problem now is that everyone is back in power. That does not in any way make our job any simpler."

Since its creation, the agency has recovered 164 billion pesos (about $4 billion), some invested in prime New York real estate, jewellery, and about $600 million stashed in secret numbered Swiss bank accounts.

The jewellery, including a 150 carat giant Burmese ruby and diamond tiara, is locked in a vault at the central bank, and at one point the international auction house Christie's estimated it could fetch up to $8.5 million.

More recently Bautista worked closely with the New York district attorney's office to charge a former personal secretary of Imelda and two others over a conspiracy to sell a Monet painting that had been bought by the family.

Marcos, an astute art buyer, distributed the priceless collection of at least 300 artworks to cronies when his regime was about to crumble. Only half have been recovered so far and the rest are missing, Bautista said.

The official said he had recommended to President Benigno Aquino that the commission wind down its operations, and transfer its work to the justice department.

If Aquino agrees he would have to get parliament to pass a law abolishing the agency.

"They (the Marcos family) have the resources to go head-to-head with us in respect to litigation. Why do you think forfeiture cases are still languishing 26 years after?" Bautista said.

The agency's annual budget of less than 100 million pesos was only enough to pay its staff of about 200, many of them young lawyers who turned down high paying jobs elsewhere, he added.

"It's a lonely job. It doesn't win you any friends."

-AFP/ac

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Electricity tariffs to be lowered

SINGAPORE: Electricity tariffs will be reduced by an average 3.7 per cent from January to March 2013.

SP Services attributed the reduction to lower costs of electricity generation, largely due to lower fuel prices compared to the previous quarter.

Non-fuel costs of power generation have also been adjusted.

The average monthly electricity bill for families living in four-room HDB flats will go down by S$3.83.

Tariffs were also reduced by 2.9 per cent in the fourth quarter of this year and 2.5 per cent in the third quarter.

- CNA/al

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Indian gang-rape victim's body to be flown back later Saturday

SINGAPORE: The body of an Indian woman who died in a Singapore hospital after a brutal gang-rape in New Delhi will be flown back on a chartered plane later Saturday, India's ambassador said.

"The requisite formalities for sending the body to India are being completed," Indian High Commissioner T.C.A. Raghavan told reporters, hours after the woman died of multiple organ failure at the Singapore hospital where she was being treated.

"The deceased and her family members will be flown back to India in a chartered aircraft later this afternoon," Raghavan said.

- AFP/ck

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Abbas warns of disbanding PA if no peace talks

JERUSALEM: Palestinian President Mahmud Abbas warned that he would disband his Palestinian Authority if there was no Israeli movement towards renewing peace talks after Israel's elections on January 22.

Abbas, in an interview with the Israeli daily Haaretz, said that if such a situation arose he would hand full responsibility for the occupied West Bank to the Israeli government.

"If there is no progress even after the election, I will take the phone and call (Prime Minister Benjamin) Netanyahu," Abbas said.

"I'll tell him... Sit in the chair here instead of me, take the keys, and you will be responsible for the Palestinian Authority."

"Once the new government in Israel is in place, Netanyahu will have to decide -- yes or no," Abbas said in the interview published on the paper's website late Thursday.

This was not the first time that Abbas had resorted to such threats, but the Palestinian Authority has found itself in a grave situation over the past few months due to an unprecedented financial crisis.

Talks between the two sides have been on hold since September 2010, with the Palestinians insisting on a settlement freeze before returning to the negotiating table and the Israelis insisting on no preconditions.

Following last month's historic United Nations vote giving the Palestinians upgraded status in the world body, Israel announced a new spate of settlement building in the West Bank and Israeli-annexed east Jerusalem.

In Thursday's interview, Abbas said that since then Israel had also reduced security coordination with Palestinian forces in the West Bank.

He said he would be willing to renew negotiations with Netanyahu after the election but would demand that Israel freeze further settlement construction while they are being held, renew the transfer of Palestinian tax revenues that Israel has been withholding and release some 120 long-term Palestinian prisoners.

"These are not preconditions, these are commitments Israel already took upon itself in the past," he told Haaretz.

The Palestinian Authority was set up in 1994 with the return to Gaza after 27 years in exile of Yasser Arafat, leader of the Palestine Liberation Organisation.

Under the Oslo accords on Palestinian autonomy, it was due to rule for a transitory period ending in May 1999.

Headed by Arafat, who died in 2004, then by Abbas, the Authority has exercised executive and legislative authority and has theoretically been responsible for security in the West Bank.

Netanyahu called early elections for January 22 in Israel, with his right-wing coalition expected to win.

- AFP/al

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Exchange of unused expired parking coupons

SINGAPORE: Motorists are reminded that parking coupons valid up to Monday, 31 December can no longer be used from 1 January.

The Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) said those with unused, expired coupons can exchange them for new ones from 2 January.

They can do so at all HDB branches and service centres, and the URA Customer Service Centre at Maxwell Road.

The parking coupons cannot be exchanged at other sales outlets such as petrol stations, shops and post offices.

- CNA/al

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Real growth in household incomes over past 5 years despite higher inflation: MOF

SINGAPORE: Singapore's economic growth slowed significantly this year, as subdued external demand affected most sectors of the economy.

But findings from the Ministry of Finance's second issue of the Singapore Public Sector Outcomes Review (SPOR) showed that there has been real growth in household incomes over the past five years despite higher inflation.

Median monthly household incomes dipped in 2009 to S$4,850 with the economic downturn, although these remain higher than five years ago - S$4,267 in 2005.

Incomes have since risen in 2010 with the economic recovery and tighter labour market.

The review found that to keep incomes on a sustainable growth path, the skills and productivity of workers must be raised. If the goal of raising productivity by two to three per cent per year over the next decade is achieved, median real incomes should grow by about 30 per cent over 10 years.

Published once every two years, SPOR provides a perspective on how the public sector and Singapore have fared in six broad range of areas of national interest including growing incomes and fostering strong families and a cohesive society.

The review said immediate challenges remain but are being addressed and these include relieving pressure in public housing and transport infrastructure.

Beyond these, SPOR said the government must keep sight of long-term issues vital to Singapore's survival, security and success.

Public policy will also have to take into account a greater diversity of needs and interests as society evolves.

The current Our Singapore Conversation is an effort to involve many Singaporeans in gathering aspirations and hopes for Singapore's future, and ideas on how we can achieve them together.

- CNA/ck

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Yen ticks up in Asia after easing-sparked tumble

TOKYO: The yen edged higher in Asian trade on Tuesday after tumbling on speculation that the Bank of Japan would launch more easing measures in the face of political demands for policy action.

The dollar bought 84.74 yen in Tokyo morning trade, a shade lower than 84.82 yen in New York Monday afternoon, after climbing to 85 yen, a level last breached in April 2011.

The euro fetched 111.69 yen and $1.3178 from 111.87 yen and $1.3183 in US trade.

The Japanese currency had dipped against the dollar and the euro on Monday after incoming prime minister Shinzo Abe, whose Liberal Democratic Party won a landslide national election last week, renewed calls on the Bank of Japan to take further steps to ease monetary policy.

Abe at the weekend threatened to change a law guaranteeing the central bank's independence if it did not agree to set a two-per cent inflation target as he requested in a bid to drag the country out of the deflation that has haunted its economy for years.

Tokyo markets were closed Monday for a national holiday.

Despite pessimism over divided US lawmakers reaching a deal on the fiscal cliff, dealers said the dollar could see more upward momentum after reaching a 20-month high earlier.

On Thursday, Japan's central bank expanded an asset-buying programme -- its main policy tool -- by 10 trillion yen ($119 billion) to 101 trillion yen, days after the conservative LDP won a weekend election promising to boost spending and pressure the central bank for aggressive action.

With most regional markets closed for a holiday, forex trade was expected to remain quiet on Tuesday.

- AFP/ck

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Antarctic ice sheet warming faster than thought: study

PARIS: The West Antarctic Ice Sheet, whose melt may be responsible for 10 percent of the sea-level rise caused by climate change, is warming twice as quickly as previously thought, a study said Sunday.

A re-analysis of temperature records from 1958 to 2010 revealed an increase of 2.4 degrees Celsius (36.3 degrees Fahrenheit) over the period -- three times the average global rise.

The increase was nearly double what previous research had suggested, and meant this was one of the fastest-warming regions on Earth, according to paper co-author David Bromwich of the Byrd Polar Research Center.

"Our record suggests that continued summer warming in West Antarctica could upset the surface balance of the ice sheet, so that the region could make an even bigger contribution to sea-level rise than it already does," he said.

Scientists believe the shrinking of the West Antarctic Ice Sheet is responsible for about 10 percent of global warming-related sea-level rise, which if unchecked threatens to flood many coastal cities within a few generations.

The sheet, a huge mass of ice up to four kilometres (2.5 miles) thick that covers the land surface and stretches into the sea, is melting faster than any other part of Antarctica.

Data records kept at Byrd Station in the central West Antarctic had been incomplete.

Since being established in 1957, the research station has not been consistently occupied and has seen frequent power outages, especially during the long polar night, when its solar panels cannot recharge.

Bromwich and a team from several US-based research institutions used weather data from different sources to plug holes in the Byrd data and corrected calibration errors.

The updated log was published in the journal Nature Geoscience.

"Aside from offering a more complete picture of warming in West Antarctica, the study suggests that if this warming trend continues, melting will become more extensive in the region in the future," said Bromwich.

The UN Intergovernmental Panel on Climate Change in 2007 had projected sea level rise of 18 to 59 centimetres (seven to 23 inches) worldwide by the year 2100.

But a study by the US National Research Council said in June the actual rise could be two to three times higher, with polar ice-cap melt speeding up the process.

-AFP/fl

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Japan's incoming PM to send envoy to China: report

TOKYO: Japan's incoming prime minister will send a special envoy to China on a fence-mending trip, a report said Saturday, after he announced plans to dispatch an emissary on a similar mission to South Korea.

Ties between Japan and China have become increasingly strained over a disputed island chain - the Tokyo-controlled Senkakus, which Beijing calls the Diaoyus -- with neither side willing to budge after months of bitter wrangling.

Shinzo Abe will send a senior official from his Liberal Democratic Party next month to deliver a letter to Chinese authorities, the business daily Nikkei reported, without offering details or citing sources.

The report comes a day after China sent ships into territorial waters around disputed islands, in the first incursion since Japan elected a new government.

Abe said on Friday he will dispatch former finance minister Fukushiro Nukaga to deliver another letter to South Korea's president-elect Park Geun-Hye, just days after the two triumphed in their own national elections.

Tokyo is embroiled in a separate row with Seoul over a different set of disputed islets, with tensions flaring up earlier this year after outgoing South Korean president Lee Myung-Bak paid a sudden visit to the islands.

"Abe intends to improve frayed ties with South Korea and with China by sending special envoys," the Nikkei said.

LDP officials could not be immediately reached for comment.

- AFP/al

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More employers offering work-life arrangements

SINGAPORE: More employers in Singapore are offering work-life arrangements, according to a survey conducted by the Ministry of Manpower (MOM).

In 2012, 41 per cent of establishments offered at least one form of work-life arrangement to their employees, up from 38 percent in 2011.

Working part-time was the most common work-life arrangement offered by 33 per cent of establishments.

At a distant second was flexitime (8.2%), followed by staggered hours (7.5%) and tele-working (4.0%).

These were some of the key findings from the 2012 Conditions of Employment Survey conducted by MOM's Research and Statistics Department.

The survey covered 3,500 establishments in the private sector -- each with at least 25 employees -- and the public sector. The response rate was 91 per cent.

The survey also found that increasingly, employers were going beyond statutory requirements to provide various leave benefits to help their employees cope with family commitments.

Most establishments gave compassionate leave (89%) and marriage leave (73%). Slightly over half granted paternity leave (53%), 36 per cent provided study/examination leave, while 16 per cent gave parental care/sick leave.

The 5-day work-week continued to be the norm, with 44 per cent of full-time employees in 2012 under such a work-week arrangement.

Lagging significantly behind were shift work (17%), 6-day (18%) and 5-1/2-day work-week (14%).

Absenteeism due to illness was broadly stable over the years. In 2011, 58 per cent of employees took outpatient sick leave and 4.2 per cent took hospitalisation leave. These were broadly comparable to 55 per cent and 4.3 per cent respectively in 2009.

- CNA/al

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Benghazi inquiry slams "grossly inadequate" security

WASHINGTON: A long-awaited inquiry into a deadly militant attack on the US mission in the Libyan city of Benghazi late Tuesday slammed State Department security arrangements there as "grossly inadequate".

But the months-long probe also found there had been "no immediate, specific" intelligence about a threat against the mission, which was overrun by dozens of heavily armed militants on September 11 who killed four Americans.

"Systemic failures and leadership and management deficiencies at senior levels within two bureaus of the State Department resulted in a Special Mission security posture that was inadequate for Benghazi and grossly inadequate to deal with the attack that took place," the damning report said.

The Accountability Review Board (ARB) also concluded "there was no protest prior to the attacks, which were unanticipated in their scale and intensity."

The attack has become fiercely politicized, with Republicans skewering the US administration for security failings as well as a possible cover-up over Al-Qaeda's role.

In the unclassified section of their report, the five-strong board added they believed every effort had been made to rescue ambassador Chris Stevens, who died in the attack -- the first US envoy killed on duty since 1979.

US Secretary of State Hillary Clinton said she accepted "every one" of the 29 recommendations made by the ARB, which has spent the last three months investigating the events of that night.

She also said the State Department was working with the Pentagon to "dispatch hundreds of additional Marine Security Guards to bolster our posts".

Repeated requests for additional support from embassy staff in both Benghazi and the Libyan capital Tripoli had been ignored, the report said.

The inquiry "found a pervasive realization among personnel who served in Benghazi that the Special Mission was not a high priority for Washington," the report added.

The Benghazi mission was also hampered by poor resources, and the reliance on armed "but poorly skilled" local militiamen from the February 17 Martyrs Brigade as well as local unarmed staff hired by a British company, Blue Mountain, was "misplaced", it said.

Clinton has now entrusted Deputy Secretary Tom Nides with heading up a team which met for the first time Tuesday to implement the report's recommendations.

The classified findings of the investigation were on Tuesday sent to members of two House and Senate committees.

ARB chairman, veteran diplomat Thomas Pickering, and team member Admiral Mike Mullen, the former chairman of the Joint Chiefs of Staff, will brief lawmakers on Wednesday behind closed doors.

The Benghazi report was sent by courier to Clinton at home on Monday, and she has read the highly-anticipated findings. But she will not be testifying herself this week after falling ill and being told by doctors to rest.

- AFP/al

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Asian markets mostly higher on US fiscal hopes

HONG KONG: Asian markets mostly rose Tuesday, taking a lead from Wall Street as dealers grow confident US lawmakers will reach an agreement to avert the fiscal cliff.

Continued weakness of the yen helped send Japanese shares surging for a second straight session as Shinzo Abe prepares to take over as prime minister, vowing to press a more aggressive policy of monetary easing.

Tokyo rose 1.02 per cent, Sydney climbed 0.78 per cent, Hong Kong added 0.19 per cent, Seoul was up 0.17 per cent and Shanghai was flat.

Traders were reacting to news progress was finally being made in talks on a new deficit-cutting budget to replace the tax hikes and spending cuts due to come into effect at the start of January and which would likely tip the US economy into recession.

President Barack Obama hosted top Republican lawmaker John Boehner in the White House for 45 minutes Monday in the latest effort to avert going over the so-called fiscal cliff.

The meeting follows news that Boehner had changed his position on not allowing any more taxes, saying at the weekend that he would agree to some hikes for people earning more than $1 million.

Although Obama has said he would only agree to rises on people earning more than $250,000, analysts say the development shows the outline of a tentative deal is being formed.

Wall Street ended on a high, with the Dow closing up 0.76 per cent, the S&P 500 gaining 1.19 per cent and the Nasdaq adding 1.32 per cent.

Japanese shares continued to be supported by the falling yen, which helps the country's exporters, as dealers bet on fresh central bank moves to boost the economy.

The election of Abe and his Liberal Democratic Party on Sunday was widely expected and investors now expect the Band of Japan to unveil a further loosening of monetary policy at the end of its two-day meeting on Thursday.

In early Tokyo trade, the dollar bought 83.86 yen, compared with 83.88 yen in New York late Monday. The dollar has risen about 5 per cent against the yen since Abe made his vow to press for more BoJ measures last month.

The euro edged up to $1.3171 and 110.60 yen, compared with $1.3161 and 110.40 yen.

Oil prices rose, with New York's main contract, light sweet crude for delivery in January rising 35 cents to $87.57 a barrel and Brent North Sea crude for February delivery advancing 51 cents to $108.15.

Gold was at $1,698.40 at 0200 GMT compared with $1,690.10 late Monday.

- AFP/ck

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Mind-controlled hand offers hope for the paralysed

PARIS: Pentagon-backed scientists on Monday announced they had created a robot hand that was the most advanced brain-controlled prosthetic limb ever made.

The mind-powered prosthesis is a breakthrough, the team of neurologists and bio-engineers reported in The Lancet.

With further development "individuals with long-term paralysis could recover the natural and intuitive command signals for hand placement, orientation and reaching, allowing them to perform activities of daily living," they said.

Researchers have long been interested in the brain-machine interface, whereby implants pick up electrical signals in parts of the brain associated with movement.

These signals are then transcribed into computer code, which orders the artificial limb to move.

The new work vastly improves the code, or algorithm, by which the first signal is transcribed into the second, the investigators said.

"One of the biggest challenges has always been how to translate brain signals that indicate limb movement into computer signals that can reliably and accurately control a robotic prosthesis," said Andrew Schwartz, a professor of neurobiology at the university.

"Most mind-controlled prosthetics have achieved this by an algorithm which involves working through a complex 'library' of computer-brain connections," he said.

"However, we've taken a completely different approach here, by using a model-based computer algorithm which closely mimics the way that an unimpaired brain controls limb movement. The result is a prosthetic hand which can be moved far more accurately and naturalistically than previous efforts."

The team, based at the University of Pittsburgh in Pennsylvania, implanted two microelectrode arrays into the left motor cortex of a 52-year-old woman.

She had been left paralysed from the neck down, unable to move her arms and legs due to a condition called spinocerebellar degeneration.

Two weeks after the operation, the prosthesis was connected and the woman embarked on 14 weeks of training - but on only the second day, she was able to move the limb through mind power.

The training aimed at achieving skills in nine tasks, such as gripping and moving small objects, stacking cones and bumping a ball so that it rolled outside a loose coil of wire.

At the end, the volunteer completed the tasks with a success rate of up to 91.6%, and more than 30 seconds faster than at the start of the trial.

The researchers said they were sure this is a success as they used an exhaustive benchmark test designed to identify genuine changes and root out flukes or anecdotal evidence.

The next steps are likely to see a robot limb incorporate sensors to tell the patient whether a surface is hot or cold or rough or smooth, and to use Wi-Fi, rather than a wire, to connect the patient's skull and the prosthesis.

In October 2011, a team at Duke University in North Carolina reported that they had implanted brain electrodes in monkeys that enabled the animals to sense the texture of a virtual object.

One of the funders of the latest study is the Defence Advanced Research Projects Agency (DARPA), a branch of the US Department of Defence that looks into futuristic technology with a potential military use, including by wounded veterans.

-AFP/fl

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Body found in Singapore River

SINGAPORE: A man was found dead in the Singapore River along Clarke Quay early Sunday morning.

The Singapore Civil Defence Force (SCDF) said it received a call at about 1.30am.

Someone was spotted jumping into the river near Block A.

SCDF officers arrived about four minutes later and conducted a search around the area.

Diving at a depth of about 3 metres, rescuers retrieved the body of a man about three-and-a-half hours later.

He was pronounced dead at the scene.

Police are investigating the unnatural death.

- CNA/ir

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"Private" memorials for Ravi Shankar in US, India

LOS ANGELES: Private memorials will be held in India and California for legendary Indian sitar player Ravi Shankar, a publicist said, after his death earlier this week.

Concerts to celebrate the 92-year-old's life will be held next year in New York and London, he added, giving no further details about funeral or other arrangements.

"Memorial services will be held near his homes in Southern California and in India," said the publicist, Stuart Wolferman, noting that they would be "private" events.

"Both services will be attended by family and friends, and will offer an opportunity for loved ones to share intimate memories and thoughts about the musician.

"Public concerts celebrating Ravi's music, in both New York and London, are being discussed for 2013," he added in a statement.

Shankar died Tuesday in southern California at the age of 92, after failing to recover from surgery at a hospital in La Jolla, near San Diego last week. His family was at his bedside.

The sitar pioneer taught his close friend George Harrison, the late Beatle, to play the instrument and collaborated with him on several projects, including the ground-breaking Concert for Bangladesh in 1971.

Harrison called Shankar "the godfather of world music," and Yehudi Menuhin, widely considered one of the greatest violinists of the 20th century, compared him to Mozart.

- AFP/ck

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N Korea holds mass rally, vows more rocket launches

SEOUL: Hundreds of thousands of North Koreans held a mass rally on Friday to celebrate the nuclear-armed state's rocket launch, as its youthful leader vowed new launches.

Days before his first anniversary in charge of the isolated country, Kim Jong-Un upheld North Korea's "unshakable stand" that the rocket programme will continue despite UN condemnation and calls for new sanctions.

The huge rally in Pyongyang, shown on state television, came two days after the launch of the three-stage rocket and just ahead of the anniversary on Monday of his father Kim Jong-Il's death.

The huge crowd standing in organised ranks in Kim Il-Sung Square -- named after Kim Jong-Un's grandfather -- cheered as top officials hailed the success of the launch and praised the "bravery and wisdom" of the dynasty's scion.

Refuelling its criticism of Wednesday's launch, the US State Department said Kim had the chance as new leader "to take his country back into the 21st century" but instead was making the "wrong choices".

Unbowed, Kim stressed the need "to launch satellites in the future... to develop the country's science, technology and economy", according to the North's official Korean Central News Agency (KCNA).

It gave new details of the launch of the rocket to propel a satellite into space, which the United States, China and others on the UN Security Council said violated a ban on long-range ballistic missile tests by North Korea.

Kim had issued the final written order for the launch on Wednesday morning and "keenly observed" the whole process, KCNA said.

By placing a satellite in orbit, North Korea "showed at home and abroad the unshakable stand... to exercise the country's legitimate right to use space for peaceful purposes", Kim said according to the agency.

The UN Security Council held emergency talks on Wednesday after the North, already under international sanctions for nuclear tests in 2006 and 2009, ignored pleas from friends and foes and went ahead with the launch.

The council warned of possible measures over what the United States called a "highly provocative" act as countries including South Korea and Japan pressed for stronger sanctions against Pyongyang.

China -- North Korea's leading patron -- backed the UN statement but its foreign ministry also pushed back against the pressure for stronger action, arguing that any response by the international community should be "prudent".

Analysts say the symbolism of the launch was a prime motivating factor for North Korea as Kim, who is not yet 30, shores up his leadership credentials.

"The launch means the fulfilment of Kim Jong-Il's last wish," said Yoo Ho-Yeol, a political science professor at Korea University in Seoul.

"As such, it helps cement Jong-Un's grip on power and strengthens his authority over the North's military elites, securing their loyalty and a sense of solidarity under his leadership," Yoo said.

The rocket launch has been seen as a timely boost for Kim, laying to rest the humiliation of a much-hyped but failed launch of North Korea's Unha-3 rocket in April, when the carrier exploded shortly after take-off.

Outrage over the recent launch was mixed with concern that North Korea may follow past practice in following up a missile or rocket launch with a nuclear test.

The North's first nuclear test in 2006 came three months after it tested a long-range missile. On that occasion, Pyongyang announced the test six days before it exploded the device.

The second test, in May 2009, came a month after a rocket launch that North Korea claimed had put a satellite in space.

- AFP/xq

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Asian markets mostly up after Fed move

HONG KONG: Asian stock markets mostly rose Thursday as the US Federal Reserve announced fresh monetary easing and said it would not lift interest rates until unemployment was under control.

However, the gains were capped after the central bank's chief Ben Bernanke said the looming fiscal cliff of huge tax hikes and deep spending cuts was already hitting the economy.

The yen continued its slide ahead of the weekend's general election in Japan that is expected to see a victory for the opposition, whose leader has vowed to press for more aggressive measures to kickstart growth.

Tokyo climbed 1.15 per cent, lifted by the weakening yen, Hong Kong gained 0.22 per cent, Sydney added 0.10 per cent and Seoul was 0.60 per cent higher, but Shanghai lost 0.36 per cent.

After a two-day meeting the policy committee of the US central bank said it would replace its "Operation Twist" bond swapping programme with $45 billion a month in straight bond buys, on an open-ended basis.

That comes on top of the $40 billion a month purchasing announced in September.

The Fed also provided a surprise by saying it would not lift rates as long as the inflation outlook was below 2.5 per cent and the jobless rate, now at 7.7 per cent, stays above 6.5 per cent.

"The Fed's decisions did not really surprise anyone, although its comments about expecting rates to remain very low as long as unemployment remains above 6.5 per cent were somewhat novel," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.

"The bottom line is that it will continue its aggressive steps to foster economic growth," he told Dow Jones Newswires.

However, the Fed's announcement was followed by a warning by Bernanke that Washington needed to come to an agreement in their talks on avoiding the fiscal cliff, adding that the lack of action was already causing problems.

"Even though we have not even reached the point of the fiscal cliff potentially kicking in, it's already affecting business investment and hiring decisions by creating uncertainty or creating pessimism," he said at a news conference.

On Wall Street the Dow and S&P 500 ended flat, while the Nasdaq fell 0.28 per cent, with earlier gains from the Fed announcement cut back by Bernanke's comments.

On currency markets the yen remained under pressure as Sunday's poll approaches, with Prime Minister Yoshihiko Noda's Democratic Party of Japan likely to lose to the Liberal Democratic Party, which is headed by Shinzo Abe.

Abe, a former prime minister, has promised to push a more aggressive monetary easing policy to jumpstart the economy.

The dollar was changing hands at 83.42 yen in early Asian trade, from 83.24 yen in New York late Wednesday, while the euro was at 108.95 yen from 108.85 yen. That compares with 82.67 yen and 107.48 yen earlier on Wednesday in Asia.

The euro bought $1.3063 against $1.3075.

Oil was lower in Asia Thursday, with New York's main contract, light sweet crude for delivery in January, falling 19 cents to $86.58 a barrel and Brent North Sea crude for January delivery shedding 15 cents to $109.35.

Gold was at $1,699.60 at 0230 GMT compared with $1,713.22 late Wednesday.

- AFP/ck

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US stocks finish solidly higher

NEW YORK: US stocks finished solidly higher Tuesday, with gains in Apple, Google and Intel boosting the tech-rich Nasdaq.

Also helping were gains in Europe's markets on the back of a surge in German investor sentiment, to a seven-month high, and a successful Spanish debt auction that saw borrowing costs drop sharply.

The Dow Jones Industrial Average rose 78.56 points (0.60 percent) to 13,248.44, scoring a fifth straight day of gains.

The broad-market S&P 500 added 9.29 (0.65 percent) at 1,427.84, while the tech-rich Nasdaq Composite leaped 35.34 (1.18 percent) to 3,022.30.

"The markets were impressive overall," said Joe Bell of Schaeffer's Investment Research. "European markets traded higher ahead of our open, which helped provide a bit of a boost early on."

The rally also came as the Federal Reserve's Federal Open Market Committee opened its final policy meeting of the year, with expectations that it will decide to expand bond purchase operations to replace the expiring "Operation Twist" bond swap program.

"It is widely expected that the FOMC will announce a new plan to buy long-term securities after Operation Twist ends. The main difference is that the new purchases (versus those made with 'Twist') will be unsterilized. That is, the new plan will carry the moniker of 'QE4,'" said Patrick O'Hare of Briefing.com.

The FOMC will announce its interest rate decision at 1730 GMT Wednesday.

The technology sector outperformed, leading the Nasdaq higher.

Apple, the biggest company by market valuation, gained 2.2 percent, Google added 1.7 percent and Intel jumped 2.8 percent.

Travel website TripAdvisor bounced 6.6 percent after media tycoon John Malone's Liberty Interactive paid $300 million for a controlling stake, giving a lift to other online travel companies. Expedia was up almost four percent and Orbitz Worldwide rose 3.0 percent.

But ticketing giant Priceline fell 0.4 percent.

Delta Air Lines added 5.1 percent after announcing the purchase of a 49 percent stake in Richard Branson's Virgin Atlantic from Singapore Airlines for $360 million. Branson and his Virgin Atlantic will continue to hold a 51 percent controlling stake.

Insurer AIG climbed 5.7 percent to $35.26 after the US Treasury announced the successful sale of its final 234 million shares at an average of $32.50 a share.

Bond prices fell. The 10-year US Treasury yield rose to 1.65 percent from 1.62 percent late Monday, while the 30-year moved to 2.84 percent from 2.80 percent.

Bond prices and yields move inversely.

-AFP/ac

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US stocks edge up amid hopes for 'cliff' deal

NEW YORK: US stocks ended slightly higher Monday amid hopes that a political deal over the looming fiscal cliff was in the works.

Markets showed little effect from the fresh turmoil in the eurozone, after Italian Prime Minister Mario Monti said he would resign in the coming days and Silvio Berlusconi threatened a comeback on an anti-austerity platform.

The Dow Jones Industrial Average rose 14.75 points (0.11 percent) to 13,169.88.

The broad-market S&P 500 added 0.48 (0.03 percent) to 1,418.55, while the tech-rich Nasdaq Composite rose 8.92 points (0.30 percent) to 2,986.96.

Trade was light and in a narrow range, with transportation, technology and basic materials shares strongest, while consumer goods slipped.

Troubled Hewlett-Packard surged 2.6 percent on rumors that raider Carl Icahn was moving on the company.

Canadian energy firm Nexen added 13.8 percent after Canadian regulators approved its takeover by Chinese state oil giant CNOOC late Friday.

Excepting Apple (-0.6 percent), big tech stocks were higher: Facebook 1.3 percent, Google 0.2 percent, Cisco 2.4 percent and STMicroelectronics, which said it was leaving a joint venture with Ericsson, added 3.4 percent.

Bond prices edged higher. The 10-year US Treasury yield slipped to 1.62 percent from 1.63 percent late Friday, while the 30-year fell to 2.80 percent from 2.81 percent.

Bond prices and yields move inversely.

-AFP/ac

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