Tag Archives: Data

World Bank: India Overtakes Japan as World’s Third Largest Economy

In purchasing power parity (PPP) terms, India is now the world’s third largest economy — surpassing Japan.

By Ankit Panda

In a sliver of good economic news during an Indian election that is widely focused on economic growth, the World Bank announced in a report on Tuesday that India overtook Japan as the world’s third largest economy in terms of purchasing power parity (PPP). According to the World Bank’s International Comparison Program (ICP) data, India holds a 6.4 percent share of global GDP on a PPP basis. The United States remains in first place with a 17.1 percent share and China trails it at 14.9 percent. Japan, while still the world’s third largest economy in nominal terms, holds a 4.8 percent share of global wealth.

Read more » THE DIPLOMAT
http://thediplomat.com/2014/05/world-bank-india-overtakes-japan-as-worlds-third-largest-economy/

“I do not want to live in a world where everything I do and say is recorded.” – Edward Snowden

Edward Snowden was NSA Prism leak source – Guardian

A former CIA technical worker has been identified by the UK’s Guardian newspaper as the source of leaks about US surveillance programmes.

Edward Snowden, 29, is described by the paper as an ex-CIA technical assistant, currently employed by defence contractor Booz Allen Hamilton.

The Guardian said his identity was being revealed at his own request.

The recent revelations are that US agencies gathered millions of phone records and monitored internet data.

The Guardian quotes Mr Snowden as saying he flew to Hong Kong on 20 May, where he holed himself up in a hotel. He told the paper: “I don’t want to live in a society that does these sort of things… I do not want to live in a world where everything I do and say is recorded.

Asked what he thought would happen to him, he replied: “Nothing good.” He said he had gone to Hong Kong because of its “strong tradition of free speech”.

Continue reading “I do not want to live in a world where everything I do and say is recorded.” – Edward Snowden

Canadian dollar falls after highest job losses since recession 4 years ago

Canadian Dollar Tumbles After Unexpected March Employment Loss

By Ari Altstedter

The Canadian dollar fell in its biggest decline in nine months against its U.S. peer after the nation unexpectedly lost jobs last month by the most since the last recession four years ago.

The currency declined against 13 of its 16 major peers as Canada had 54,500 fewer jobs in March, compared with the 6,500 gain predicted in the median estimate of a Bloomberg survey of 24 economists. The nation’s jobless rate increased to 7.2 percent from 7 percent. The U.S. added 88,000 jobs in March, versus estimates of a 190,000 gain. The Bank of Canada’s March 6 policy statement called for the economy to “pick up through 2013” on its way to 2 percent annual growth.

“Huge miss on both numbers, but particularly the Canadian number after many months of surprisingly strong employment data, we’ve finally seen some give back, so pretty swift reaction for the Canadian dollar,” said Blake Jespersen, managing director of foreign exchange at Bank of Montreal, by phone from Toronto. “There’s a lot more room for this to run, I think this is just the beginning of what could be a series of weaker employment numbers in Canada.”

The loonie, as the Canadian dollar is known for the image of the C$1 coin, fell 0.5 percent to C$1.0176 at 5 p.m. in Toronto. Earlier, it fell 1.1 percent to C$1.0236 per U.S. dollar, the largest drop since June 28. One loonie buys 98.27 U.S. cents.

Bonds Gain

Canada’s benchmark 10-year government bonds rose, with yields falling four basis points or 0.04 percentage point to 1.75 percent, touching the lowest level since Dec. 11. The 1.5 percent security maturing in June 2023 rose 36 cents to C$97.68.

Crude oil, the country’s biggest export, fell 0.3 percent to $93.02 per barrel in New York, after touching its lowest point since March 7. The Standard & Poor’s 500 Index of U.S. stocks fell 0.4 percent.

Canada’s jobs figures brings the labor market more in line with other parts of the economy, where output growth slowed to a 0.6 percent annualized pace in the fourth quarter and inflation has lagged the central bank’s 2 percent target since May. Last month’s figures mean Canada posted a net loss of 25,700 jobs in the first three months of the year.

’Ugly Across’

“It was ugly across the board, there wasn’t one redeeming feature for the Canadian employment report,” said Mark Frey, chief market strategist at Cambridge Mercantile Group, a corporate currency broker, by phone from Victoria British Columbia. “When you look at the overall employment figures for Q1 in Canada, you’re seeing a pretty bleak outlook that has turned almost on a dime from the last five months of 2012.”

A separate report showed Canada recorded its 11th straight merchandise trade deficit in February, the longest streak in at least 25 years, with the shortfall unexpectedly widening as exports of metals declined.

The deficit of C$1.02 billion ($1 billion) followed a January figure that was revised to C$746 million from C$237 million, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg forecast the string would end with a C$100 million surplus, based on the median of 21 forecasts.

“Obviously disappointment on both sides of the border,” said David Tulk, chief macro strategist at Toronto-Dominion Bank (TD)’s TD Securities unit by phone from Toronto. “The labor market is sort of catching up to the wider economic backdrop that we’ve always argued is still quite subdued, so this helps a little bit.” ….

Read more » Bloomberg
http://www.bloomberg.com/news/2013-04-05/canadian-dollar-extends-loss-after-unexpected-march-jobs-decline.html

CBC News – Canada loses 54,500 jobs in March

Jobless rate ticks higher to 7.2% as private-sector hiring slumps

By CBC News

Canada’s economy lost 54,500 jobs in March, bleak new data from Statistics Canada showed Friday.

That’s the worst month for Canadian employment since the recession of 2009. When added to the numbers for January and February, they show that Canada’s economy has lost 26,000 jobs so far in 2013 as a whole

The job losses pushed Canada’s jobless rate higher to 7.2 per cent.

“Official unemployment would have increased even more but for 12,300 Canadians dropping out of the labour force altogether and consequently not being counted as unemployed,” United Steelworkers economist Erin Weir said of the data.

Provincially, Quebec, British Columbia and Alberta lost jobs, and employment edged down in Ontario. The only province with an increase was Nova Scotia.

Loonie sinks on news

Private sector hiring, the engine of growth that policymakers keep a close eye on, actually fared even worse. There were 85,000 fewer private sector workers in March, while the public sector was largely unchanged,

There was an increase of 39,000 among self-employed people that counteracted the decline.

Overall, economists had been expecting about 6,500 new jobs, so a loss of 54,500 represents a considerable miss.

Much of the losses came among those in the core working-age group of those between 25 and 54. Among those younger than 25 and older than 54, the job numbers were pretty steady.

The Canadian dollar lost half a cent to trade below 98 cents US in reaction to the news.

Courtesy: CBC News
http://www.cbc.ca/news/canada/story/2013/04/05/business-jobs-canada.html

PPP holds big rally in favour of president, PM

LAHORE – Pakistan People’s Party (PPP) leader and Special Adviser to Prime Minister Ch Aslam Gill on Friday said the people wanted peace and democracy instead of long marches.

He was addressing a big PPP rally brought out to express solidarity with President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani here. The rally which was reflective of the spirit of PPP workers during 1970 started from Nasir Bagh and peacefully ended at Data Darbar where Ch Aslam Gill addressed thousands of party workers. There was no considerable presence of the existing office bearers of provincial or Lahore PPP. The enthusiasm and spirit shown by the party workers, thousands of party flags and banners and full-throat slogans chanted by them in favour of President Asif Ali Zardari and Prime Syed Yousuf Raza Gilani revived the emotional scenes of 1970. As a matter of fact, Ch Aslam Gill succeeded in activating the old party workers and mobilising them to work for the cause of the party in such a large number after 23 years. This was what he could do on December 2011 when he held a big public meeting at Benazir Park near his residence in Naseerabad, Gulberg 3, Lahore.

Continue reading PPP holds big rally in favour of president, PM

Forensics and data may not resolve memo issue

By Asmat Zubair

ISLAMABAD: Although the focus so far in the media and the Supreme Court has been on the authenticity or otherwise of the text and BlackBerry messages allegedly exchanged between Mansoor Ijaz and Husain Haqqani, the real task of the memo commission might be to address the non-forensic questions about the origins of the memo.

According to legal experts who have read Mansoor Ijaz’s 81-page affidavit and additional submissions before the Supreme Court, his essential claim is that Husain Haqqani told him to write the memo in a telephone call from a London hotel. The rest of the material is included only to create the impression of close contacts between Ijaz and Haqqani and has no direct relevance to the memo.

As the Supreme Court heard arguments only about maintainability of the petitions about the memo, Haqqani’s lawyer Asma Jahangir was not allowed to make arguments about the substance of Mansoor Ijaz’s claim and point out the flaws in his story.

Careful reading of all the 89 texts and BBM messages submitted by Mansoor Ijaz shows that not once has Haqqani mentioned the memo in any of the alleged messages. Even if forensic evaluation determines that these messages were exchanged, Haqqani’s alleged connection to the memo still depends on Mansoor Ijaz’s claim of what was discussed in their phone call.

Although the DG ISI Lt General Ahmed Shuja Pasha found Mansoor Ijaz’s claim sufficiently reliable to demand a forensic inquiry, the judicial commission will have to address the political question of why Pasha and Mansoor Ijaz met on October 22 and why Mansoor Ijaz wrote the article in the Financial Times on October 10 that attracted the Pakistani military’s concerns leading to the Pasha-Ijaz meeting.

It is interesting to note that Ijaz says in his affidavit to the Supreme Court (Page 4), “At no time did I meet Haqqani in person” even though the very first Blackberry message sent by him to Haqqani on May 9, according to him, (Page 6 of affidavit) said, “I’m in Monaco but it’s no problem for me to fly up. Takes 90 minutes.” ….

Read more » The News

RIM Asked to Hand Over Memogate Data to Pakistan Court

By Tarek Fatah

this involves the private messages between two individuals and as such RIM is unlikely to share this data — if it exists — with Pakistan’s Supreme Court

Research in Motion (RIM) and the Canadian High Commission in Islamabad have become the latest actors in the so-called “memogate affairthat observers believe is a slow-motion palace coup by Pakistan’s military aimed at unseating the civilian administration of President Zardari.

In a decision on Friday, the Supreme Court of Pakistan ordered the country’s attorney general to demand RIM hand over BBM messages allegedly exchanged between the former Pakistan ambassador to the U.S., Husain Haqqani, and American businessman Mansoor Ijaz. The exchanges involve an unsigned memo handed over to to former American Chair of the Joint Chiefs of Staff, Admiral Mike Mullen, requesting U.S. intervention to stave off a military coup in Islamabad.

The latest tug of war between the government of President Zardari and his generals erupted on Oct. 11, 2011 when the Financial Times ran an op-ed titled “Time to take on Pakistan’s Jihadis.”

In the article, Mansoor Ijaz, a Pakistani-American businessman, claimed he was contacted by a Pakistan’s ambassador to the U.S., Husain Haqqani, and asked to contact Admiral Mullen to prevent a military coup from taking place in Pakistan. The military was outraged and wanted heads to roll. Ijaz wrote:

Early on May 9, a week after U.S. Special Forces stormed the hideout of Osama bin Laden and killed him, a senior Pakistani diplomat telephoned me with an urgent request. Asif Ali Zardari, Pakistan’s president, needed to communicate a message to White House national security officials that would bypass Pakistan’s military and intelligence channels.

As evidence, the American businessman handed over copies of his alleged BlackBerry message exchanges with Haqqani to Pakistan’s feared military intelligence force, the ISI. On his part, Haqqani categorically denied that he had asked Ijaz to draft any message and dismissed the messages cited by Ijaz as a fabrication.

As a result of the controversy, Ambassador Haqqani — a man not liked by his country’s jihadis, whether civilian or military — was forced to resign his post and ordered back to Pakistan, where he was placed under security watch and barred by the military from leaving the country.

The country’s parliament set up a commission to get to the depth of the matter, but this inquiry was upstaged by opposition politician Nawaz Sharif who took the matter to the country’s Supreme Court that is closely allied to the country’s military generals.

Pakistan Supreme Court

Last Friday, the Supreme Court ruled that there was merit in the complaint against Haqqani and set up a three-member judicial commission that will report back in four weeks to determine the guilt or innocence of the former Boston University professor and Pakistan’s most prominent diplomat in the last four years.

At the crux of the matter is the authenticity of of the BlackBerry messages that were allegedly exchanged between the two men.

In its decision on Friday, the Pakistani Supreme Court ordered the country’s attorney general to get in touch with Research In Motion in Waterloo, Ontario to secure from RIM the data verifying the validity of the alleged BlackBerry conversation between Haqqani and Ijaz.

In an unprecedented move, the Pakistani Supreme Court stepped beyond its jurisdiction to direct the Canadian High Commissioner in Islamabad, ordering it to facilitate in the securing the data from RIM.

In August 2010, Research In Motion was pressured by the Indian government to allow it access to data exchanged on its BBM messenger service. RIM resisted that pressure and the two parties came to a resolution. However, that involved BlackBerry messages within India, not overseas.

RIM ended up ready to compromise on the privacy of corporate customers to placate Indian regulators. Saudi Arabia and the United Arab Emirates too threatened to shut off BlackBerry services unless RIM opened its encrypted client data for the sake of national security.

However, in this case, the alleged exchanges between the Pakistani Ambassador and the American businessman were conducted in the United States, not Pakistan. Unlike the Indian request, this involves the private messages between two individuals and as such RIM is unlikely to share this data — if it exists — with Pakistan’s Supreme Court.

In addition, the Supreme Court ordered former ambassador Husain Haqqani to not leave the country, thus placing him in virtual house arrest. Haqqani, fearing for his life at the hands of the military and jihadis, has now taken refuge inside the Prime Minister’s residence in Islamabad.

Dark day for Pakistan

Haqqani’s counsel in the case, prominent human rights lawyer Asma Jahangir reacted with shock at the Supreme Court decision, labelling it a “dark day” for the country’s judiciary.

Ms. Jahangir a former president of the country’s Supreme Court Bar Association and the United Nations Special Rapporteur on Freedom of Religion, said the decision was evidence Pakistan’s civilian government had for all practical purposes come under the thumb of the army.

Speaking to the media outside the Supreme Court on Friday, Ms. Jehangir said that the court’s judgment in the “memogate scandal” had forced her to wonder whether Pakistan’s judiciary represented the people of Pakistan or the country’s (military) establishment.

Two days later Jahangir announced that in protest at the high-handedness of the Pakistan Supreme Court, she was stepping down as counsel for Husain Haqqani. She alleged the judges of the Supreme Court were acting “under the influence of the [Military] establishment” and not in the cause of justice or due process.

A noose around Haqqani’s neck

She told Karachi’s DAWN Television she was stepping down because the only outcome left was a noose around Haqqani’s neck. She said:

“If nine judges of the Supreme Court can be under their [military] influence, then I am sorry to say I cannot have any expectations from three judges, who are subordinate to the same Supreme Court judges.””Should we close our eyes? Should we allow ourselves to be fooled?… I have told my client [Haqqani] he can appear before the commission if he wishes to — and he will go–but I have no confidence at all in the [judicial] commission.”

Continue reading RIM Asked to Hand Over Memogate Data to Pakistan Court