Category: Asia and Pacific

  • Turkey expects to acquire Japanese know-how on nuclear energy

    Turkey expects to acquire Japanese know-how on nuclear energy

    88352Turkey intends to sign, this spring with Japan, an agreement on cooperation in the nuclear energy sector, Turkish FM Ahmet Davutoglu stated in an interview with Japan’s leading economic periodical, “The Voice of Turkey” informs.

    Davutoglu noted that, “they believe in Japanese technology and its safety,” yet again stressing a readiness to cooperate.

    Turkey’s FM also said accordance was reached toward continuing the talks on Iran’s nuclear program.

    Incidentally, even though Turkey constantly calls for the international community to apply pressure on Armenia to close down the Metsamor Nuclear Power Plant, Turkey itself is building several nuclear plants in seismically active zones.

    via Turkey expects to acquire Japanese know-how on nuclear energy | Armenia News – NEWS.am.

  • Visit to Turkey opened new avenues of cooperation: Shahbaz

    Visit to Turkey opened new avenues of cooperation: Shahbaz

    LAHORE: Chief Minister Shahbaz Sharif has said that service to the masses is a form of worship and a comprehensive programme of public welfare and rapid development of the province is being pursued.

    Talking to the MPAs belonging to various districts here on Sunday, he said protection of life and property was the foremost priority of the Punjab government and all possible steps would be taken for further improving law and order in the province.

    Shahbaz said every effort was directed towards the progress of the country and it would put on the road to prosperity after being taken out of the current crises under the leadership of PML-N chief Nawaz Sharif. He said corruption had shaken the foundations of the country and every person would have to play his role for purging the society of the menace. He said merit, good governance and transparency had been promoted in the province and the development projects of present era were unprecedented regarding quality and transparency.

    The chief minister said the transparent utilisation of every penny of the public money was being ensured and all resources were being utilized for the public welfare. He said the credit for materialising the dream of labourers, farmers, widows, martyrs and a common man of having their own shelter went to the PML-N, which, for the first time in the history of the country, had provided facilities to the poor in Ashiana Housing Scheme more than the residential schemes of the elite.

    Shahbaz said steps were being taken for the provision of quality and comfortable transport facilities to the people. He said that after the provincial metropolis, a plan had also been made for extending the scope of Ashiana scheme to other big cities of the province.

    Mentioning his visit to Turkey, Shahbaz said that besides accelerating the pace of implementation on various agreements, his visit had also helped seek new avenues of cooperation with Turkey in other sectors. He said the way Turkey had made progress rapidly and had become a strong economic force was a role model for Pakistan, adding that we could also put our country on the road to progress by working hard.

    The CM said Allah had given rich resources to Pakistan and we could not only achieve self-reliance by developing them but also get rid the menace of charity of foreingers. He stressed upon the elected representatives to spare no effort for ensuring transparent and timely completion of welfare projects.

    via Visit to Turkey opened new avenues of cooperation: Shahbaz.

  • Obama: the US can no longer fight the world’s battles

    Obama: the US can no longer fight the world’s battles

    President plans to cut half a million troops and says US can’t afford to wage two wars at once
    obamaThe mighty American military machine that has for so long secured the country’s status as the world’s only superpower will have to be drastically reduced, Barack Obama warned yesterday as he set out a radical but more modest new set of priorities for the Pentagon over the next decade.

    obama graphic

    After the wars in Iraq and Afghanistan that defined the first decade of the 21st century, Mr Obama’s blueprint for the military’s future acknowledged that America will no longer have the resources to conduct two such major operations simultaneously.

    Instead, the US military will lose up to half a million troops and will focus on countering terrorism and meeting the new challenges of an emergent Asia dominated by China. America, the President said, was “turning the page on a decade of war” and now faced “a moment of transition”. The country’s armed forces would in future be leaner but, Mr Obama pointedly warned both friends and foes, sufficient to preserve US military superiority over any rival – “agile, flexible and ready for the full range of contingencies and threats”.

    The wider significance of America’s landmark strategic change was underlined by British Defence Secretary Philip Hammond, who used a visit to Washington to warn that America must not delay the production of US warplanes bound for British aircraft carriers. The US strategy is expected to make a drawdown of some of the 80,000 troops based in Europe.

    “We have to look at the relationship with Americans in a slightly different light,” Mr Hammond told Channel 4 News. “Europeans have to respond to this change in American focus, not with a fit of pique but by pragmatic engagement, recognising that we have to work with Americans to get better value for money.”

    But there is little doubt that Europe will be a much-reduced priority under the new scheme. The blueprint’s status as the president’s own property, after a first three years in office dominated by wars he had inherited from his predecessor, was underlined by his rare personal appearance at the Pentagon flanked by Defence Secretary Leon Panetta and other top uniformed officials.

    Henceforth, Mr Obama underlined, the priorities would be maintaining a robust nuclear deterrent, confronting terrorism and protecting the US homeland, and deterring and defeating any potential adversary. To these ends, the US will also boost its cyberwarfare and missile defence capabilities.

    At the same time, iIf all goes to plan, the centre of gravity of the US defence effort will shift eastwards, away from Europe and the Middle East. The focus will be on Asia and – both he and Mr Panetta made abundantly clear without specifically saying so – in particular on an increasingly assertive China, already an economic superpower and well on the way to becoming a military one as well.

    The specifics of the new proposals, set out in a document entitled “Sustaining US Global Leadership: Priorities for 21st Century Defense”, have yet to be fleshed out. But they are likely to entail a reduction of up to 490,000 in a total military personnel now standing at some 1.6 million worldwide, as well as cuts in costly procurement programmes – some originally designed for a Cold War environment.

    The “Obama Doctrine” reflects three basic realities. First, the long post-9/11 wars are finally drawing to a close. The last US troops have already left Iraq, while American combat forces are due to be out of Afghanistan by the end of 2014 (though a limited number may stay on as trainers and advisers).

    Second, and as the President stressed in a major speech during his recent visit to Australia, America’s national interest is increasingly bound up with Asia, the world’s economic powerhouse, and where many countries are keen for a greater US commitment as a counterweight to China.

    Third, and most important, are the domestic financial facts of life, at a moment when government spending on every front is under pressure. For years the Pentagon has been exempt – but no longer, as efforts multiply to rein in soaring federal budget deficits.

    At $662bn, Pentagon spending for fiscal 2013 will exceed the next 10 largest national defence budgets on the planet combined. Even so, that sum is $27bn less than what President Obama wanted, and $43bn less than the 2012 budget.

    www.independent.co.uk, 06 JANUARY 2012

  • Tony Blair and the £8million tax ‘mystery’

    Tony Blair and the £8million tax ‘mystery’

    Former Prime Minister Tony Blair channelled millions of pounds through a complicated web of companies and paid just a fraction in tax, The Sunday Telegraph can reveal.

    tony blair
    Tony Blair channelled millions of pounds through a complicated web of companies. Photo: Getty

    By Robert Mendick, Chief Reporter

    Official accounts show a company set up by Mr Blair to manage his business affairs paid just £315,000 in tax last year on an income of more than £12 million. In that time, he employed 26 staff and paid them total wages of almost £2.3 million.

    The accounts provide the strongest evidence yet of the huge sums generated by Mr Blair through his various activities since quitting Downing Street in June 2007.

    He runs a business consultancy – Tony Blair Associates – which has deals with the governments of Kuwait and Kazakhstan among others and is a paid adviser to JP Morgan, an American investment bank, and to Zurich International, a global insurance company based in Switzerland. Mr Blair makes a further £100,000 a time from speeches and lectures while also presiding over a number of charities including a faith foundation.

    Mr Blair has previously been criticised for cashing in on contacts made in Downing Street and these accounts will likely add to those concerns.

    The documents also reveal that in the two years until March 31 last year, Mr Blair’s management company had a total turnover of more than £20 million and paid tax of about £470,000.

    The scale of Mr Blair’s finances are shown in accounts lodged by Windrush Ventures Limited, just one of a myriad of companies and partnerships set up by the former prime minister. Windrush Ventures Ltd’s “principal activity” is the “provision of management services” to Mr Blair’s various other interests.

    The accounts for the 12 months to March 31 were lodged with Companies House in the week between Christmas and New Year and made publicly available for the first time last week. Previously the accounts have contained almost no information because Windrush was classified as a small company. This time auditors appear to have been obliged to divulge more information because of the amount of money being handled.

    The accounts show a turnover of £12.005 million and administrative expenses of £10.919 million, leaving Windrush Ventures with a profit of just over £1 million, on which Mr Blair paid tax of £315,000. The tax was paid at the corporate tax rate of 28 per cent.

    Of those expenses, £2.285 million went on paying 26 employees at an average salary of almost £88,000. Windrush Ventures also pays £550,000 a year to rent Mr Blair’s offices in Grosvenor Square, a stone’s throw from the US embassy in Mayfair in central London and a further sum of about £300,000 on office equipment and furniture. But those costs amount to a little more than £3 million, meaning almost £8 million of “administrative expenditure” is unexplained in the accounts.

    It is not known from the accounts what happened to that huge sum.

    Tax specialists who have studied the accounts have told The Sunday Telegraph that the tax paid in 2010 of £154,000 and £315,000 in 2011 appears low because costs have been offset against the administrative costs, which remain largely unexplained.

    One City accountant, who did not wish to be named, said: “It is very difficult to see what these administrative costs could be. It is a very large amount for a business like this. I am sure it is legitimate but it is certainly surprising.

    “The tax bill of £315,000 is explained by the large administrative costs that are being treated as tax allowable.”

    Richard Murphy, a charted accountant who runs Tax Research LLP and has studied Mr Blair’s company accounts, said: “There is about £8 million which we don’t know where it goes. That money is unexplained. There is no indication at all why the administration costs are so high. What has happened to about £8 million which is being offset against tax?”

    There is no suggestion that Mr Blair’s tax affairs are anything other than legitimate. His accounts are audited by KPMG, one of the world’s biggest accountancy firms. Mr Blair presides over 12 different legal entities, handling the millions of pounds he has received since leaving office. Another set of companies, which are run in parallel to Windrush Ventures, are called Firerush Ventures and appear to operate in exactly the same, oblique way.

    The money paid into Windrush Ventures Ltd largely comes from Windrush Ventures No. 3 Limited Partnership, which appears to be where money is deposited before being spread around other companies, ultimately in Mr Blair’s ownership. The limited partnership does not have to disclose publicly any accounts allowing its activities to remain secret.

    Mr Murphy said last night: “It is in the limited partnership where things really happen. But that is the one Mr Blair keeps secret. We don’t know how much money is in the LP. It is completely hidden. The question is why is Tony Blair running such as a completely secretive organisation?”

    A spokesman for Mr Blair said last night: “The Windrush accounts are prepared in accordance with the relevant legal, accounting and regulatory guidance. Tony Blair continues to be a UK taxpayer on all of his income and all of his companies are UK registered for tax purposes.”

    The spokesman added that the accounts did not relate to any of Mr Blair’s charitable activities, which raised money separately as independently registered charities.

    The spokesman chose not to explain what happened to about £8 million of administrative expenses.

    www.telegraph.co.uk, 07 Jan 2012

  • ‘Turkey will be near Azerbaijan in case of war in Karabakh’

    ‘Turkey will be near Azerbaijan in case of war in Karabakh’

    Military option might be applied if the Karabakh issue is not solved in a peaceful way.

    yt

    The statement came from Turkish MP from Istanbul Ali Ozgunduz while explaining his opinion that Turkey will be near Azerbaijan if the war is unleashed in Karabakh, Gun.Az reports.

    ‘When Azerbaijan launches military operation to liberate the occupied territories, Turkey will be near Azerbaijan and no one should doubt it. I would like to add that the Karabakh issue cannot be deferred for too long and it will find its settlement sooner or later. As long as the conflict is protracted, many other problems can occur in the region’, Ozgunduz said.

    The MP said that Turkey will always support Azerbaijan and never leave it alone in the battlefield.

    ‘Today Armenia should duly analyze the situation in the region and understant that in case of war, Armenia’s economy and the whole infrastructure may perish. Armenian politicians should perceive it well’, the MP stressed.

    News.Az

  • Japan, Turkey agree to restart nuclear cooperation

    Japan, Turkey agree to restart nuclear cooperation

    By MarketWatch

    Japan and Turkey agreed Friday to work toward the resumption of negotiations on a bilateral nuclear cooperation pact, Kyodo News reported.

    The agreement was announced by Japanese Foreign Minister Koichiro Gemba and his Turkish counterpart Ahmet Davutoglu after their meeting in Ankara.

    Davutoglu also told a joint news conference that Turkey is hoping to launch talks with Japan on a bilateral free trade agreement.

    In an attempt to enhance bilateral economic cooperation, the two countries agreed to start regular ministerial-level dialogue, Gemba said, adding that Japan will consider the feasibility of an FTA with Turkey within this new framework.

    Turkey is planning to build nuclear power plants in three locations by 2023. The talks between Tokyo and Ankara on the construction of its second nuclear complex, as well as on a civilian nuclear power pact, were suspended following the nuclear crisis at the Fukushima Daiichi power plant, triggered by the March 11 earthquake and tsunami in northeastern Japan.

    Gemba is on an eight-day tour that started Thursday and will also take him to Saudi Arabia, Qatar and the United Arab Emirates to discuss regional and energy issues.

    via Japan, Turkey agree to restart nuclear cooperation – MarketWatch.