Europe Reaches a Greek Deal

BRUSSELS—Euro-zone finance ministers early Tuesday agreed to an ambitious €130 billion ($172.1 billion) rescue deal that will see Greece's private creditors take an even larger loss in order to put the debt-laden country on a sustainable footing and avert a catastrophic default.

The IMF's Christine Lagarde talks with Greek Premier Lucas Papademos before Monday's meeting in Brussels.

The agreement revolves around a debt exchange that calls for private investors to waive 53.5% of their principal under a massive debt swap that will cut Greece's outstanding debt stock by €107 billion. That goes beyond a 50% haircut agreed upon at a summit in October.

Speaking after the conclusion of more than 12 hours of negotiations, Eurogroup chairman Jean-Claude Juncker said the agreement "provides a comprehensive blueprint for putting the public finances and the economy of Greece back on a sustainable footing, and hence for safeguarding financial stability in the euro zone."

The deeper private sector haircut will help bring Greece's debt as a proportion of gross domestic product to 120.5% by 2020 from over 164% currently. Read More...

Terror suspect arrested near Capitol in FBI sting

WASHINGTON — A 29-year-old Moroccan man who believed he was working with al-Qaida was arrested Friday near the U.S. Capitol as he was planning to detonate what he thought was a suicide vest that undercover operatives gave him, officials said.

Amine El Khalifi of Alexandria, Va., was taken into custody with a gun that didn't work and inert explosives, according to a counterterrorism official. He arrived near the Capitol in a van with the two undercover operatives, and walked toward the building, according to court papers. He was arrested before he left the parking garage.

A man has been arrested near the US Capitol building as part of an anti-terror investigation, US officials say

El Khalifi made a brief appearance on Friday afternoon in federal court in Alexandria, where a judge set a bail hearing for Wednesday. After his arrest, FBI agents raided a red brick rambler home in Arlington, Va. A police car blocked the entrance.

A criminal complaint charges him with knowingly and unlawfully attempting to use a weapon of mass destruction against property that is owned and used by the United States. The charge carries a maximum penalty of life in prison. Read More...

Mamata asks PM to withdraw order on powers given to National Counter Terrorism Centre

Banerjee asks the Prime Minister to review and withdraw the order on organisation, function, power and duties of the National Counter Terrorism Centre.

Read more at: http://indiatoday.intoday.in/

At least four states, including the Congress-Trinamool Congress alliance-ruled West Bengal, have opposed Union Home Minister P. Chidambaram's pet project, the National Counter Terrorism Centre (NCTC).

West Bengal Chief Minister Mamata Banerjee recently wrote to Prime Minister Manmohan Singh objecting to the powers of the anti-terror body that would become operational next month.

"It is difficult for the state government to accept such arbitrary exercise of power by the central government which have a bearing on the rights and privilege of the states. It appears to be an infringement on the powers of state governments in matters of investigation and maintenance of order," she said in her letter.

The Trinamool chief's letter comes after Odisha Chief Minister Naveen Patnaik wrote to the prime minister opposing, what he called were the sweeping powers to the body. He said several other chief ministers were also opposed to the Centre's move. More about this...

President Obama promotes manufacturing during Milwaukee visit

President Barack Obama speaks to employees Wednesday at the Master Lock Co. in Milwaukee. / M. Spencer Green/AP

MILWAUKEE - President Barack Obama is using the resurgence of U.S. manufacturing to make an economic case for his re-election, touring factory floors and promoting a made-in-America message that seemed to fit his political campaign like, as it turned out Wednesday, lock and key.

Most presidents like to surround themselves with proud workers at factories, but Obama has gone further by making the rebounding manufacturing a key plank of his election-year agenda, arguing that the increasingly service-oriented U.S. economy needs to make things in order to prosper in the long run. He opened a three-day political trip with a stop in Wisconsin, a state he won handily in 2008 but is expected to pose more difficulty for him this year. Obama called for tax cuts for American manufacturers and higher taxes for companies that move overseas, pressing what he hopes will be a winning campaign issue. He also acknowledged that many factories have closed, their jobs have gone overseas and a lot of them "are not going to come back." Read more about this...

Election Commission to close Khurshid issue after his regret letter: Sources

New Delhi:  A day after Union Law Minister Salman Khurshid wrote a letter to the Election Commission (EC), expressing regret over his remarks on the minority quota, the poll panel has, according to sources, decided to close the matter.

Under fire and finding himself increasingly isolated over his confrontation with the poll panel over the minority quota issue, Mr Khurshid had, in the letter addressed to Chief Election Commissioner SY Quraishi, said that he respects the institution and that he has always strived to strengthen the law.



Mr Khurshid has been involved in a bitter war of words with the poll panel in the last few days. The confrontation escalated to new heights after the EC sent a letter to President Pratibha Patil on Saturday, complaining about the minister's "defiant" attitude on his minority quota remarks. (Read letter) The EC had suggested that the minister's remarks were a clear violation of the model code of conduct given the polls that are under way in Uttar Pradesh.

Mr Khurshid, in his letter, sought to clear the air, saying that he never intended to transgress the law or the model code of conduct during the elections. Significantly, in a major climbdown of sorts, Mr Khurshid said that the entire controversy was "unfortunate", adding that he "regrets the statement". Read More...

Virat Kohli, Ashwin take India to victory

Perth: India defeated Sri Lanka by 4 wickets in the second ODI of the tri-nation series here on Wednesday.

Scorecard

Chasing a target of 234, India reached the score with 20 balls to spare. Virat Kohli top-scored with 77 before being run-out by Lasith Malinga. Sachin Tendulkar was the other star-performer but he missed his half century by 2 runs.

Sri Lanka had won the toss earlier in the day and despite the early wicket of Upul Tharanga (4), managed to string together partnerships. Tillakaratne Dilshan scored 48 while Dinesh Chandimal helped himself to a fighting 64. R Ashwin however, was able to pull the plug and claimed three wickets to restrict the scoring.

This was the first ODI between the two teams since the World Cup final close to 11 months back.

Egypt names 43 targeted in democracy groups inquiry

Reporting from Washington — Egyptian state media Monday published the names of 43 people accused in a politically explosive investigation of pro-democracy groups, saying they are suspected of receiving illegal funding with the aim of destabilizing the country's national security.



The 19 Americans on the list of those to be prosecuted on charges of violating foreign funding laws included Sam LaHood, son of Transportation Secretary Ray LaHood and country director for the Washington-based International Republican Institute, and Charles Dunne, the Mideast program director for Freedom House, a research and advocacy organization.

Dunne said in an interview Monday that he last visited Egypt in October.

"I left the country in October, in their good graces," Dunne said. "But apparently not now."

Egyptian officials consider foreign funding of the groups as interference in their country's political system. The nongovernmental groups insist that they aim only to provide Egyptians with nuts-and-bolts technical assistance to help them take part in the democratic process. Read More...

Khmer Rouge chief jailer gets life in prison

Khmer Rouge tribunal's Supreme Court on Friday

PHNOM PENH, Cambodia — The Khmer Rouge tribunal's Supreme Court on Friday ordered the regime's chief jailer to serve out the rest of his life in prison because of his "shocking and heinous" crimes against the Cambodian people.

The surprise ruling increased a lower court's 19-year sentence that had been appealed by prosecutors as too lenient and that had outraged survivors who feared the man who oversaw the killings of thousands could one day walk free. Kaing Guek Eav, known as Duch, was commander of the top secret Tuol Sleng prison — code-named S-21.

He admitted to overseeing the torture of his prisoners before sending them for execution at the "killing fields." In July 2010, the tribunal's lower court convicted Duch (pronounced DOIK) of war crimes, crimes against humanity, torture and murder.

He was sentenced to 35 years in prison but had 11 years shaved off for time served and other technicalities. The sentence was appealed both by prosecutors who called for life imprisonment and by Duch who argued it was too harsh because he was merely following orders. Read More...

India look to regain pride in T20 games

Team India train before 1st T20 match against Australia

Their reputation bruised and battered after the humiliating loss in the Test series, India will be desperate to turn their fortunes around and restore some pride in the limited overs matches, starting with the first T20 against Australia here on Sunday. The Indians slumped to their lowest ebb in the longer version of the last week when Australia mauled the visitors by a 4-0 margin in the Test series.

The drubbing at the hands of Australia was also the current ODI world champion team's eight straight overseas Test defeat following the series loss by identical margin in England last year.

But with some fresh legs - Suresh Raina, Manoj Tiwary, Praveen Kumar, Irfan Pathan, Parthiv Patel, Ravidra Jadeja and Rahul Sharma - joining the team for the limited overs matches, MS Dhoni would be hoping for lady luck to smile on him in the first of the two T20 matches tomorrow ahead of the tri-series, featuring hosts Australia and Sri Lanka. With India's famed batting line-up failing miserably in the Test series, there is a scramble for early berths in opening T20 match at the ANZ Stadium. Read More...

Why India’s selection committee and policy need to be revamped

It’s almost as if the shadow of defeat is yet to loom large on those who claim to govern Indian cricket. The events of the past two weeks, post-Sydney surely has pretty much given denial a connotation of immortality, much in the mould of Kim Jong-il. Notoriously, statements coming from the heads and shoulders of the BCCI have been typically ranging from the absurd, audacious, unreal and if you like it, the indifferent almost as if events in Australia are just a make-believe creation than reality. Remorse, it must be said, is in acute shortage of and shame, I am afraid, none whatsoever. Efforts to stem the rot, if any, aren’t visible or worse, aren’t working.

Almost like a rudderless ship, there’s a feeling of sunkenness which is by no means going to be easy to fix. For a Board that doesn’t believe in careful, precise diagnosis of the problems engulfing the sport in this country, a surgery or replacement therapy seems the quick, easy way out. Read More...

Pakistani Leader Moves to Ease Feud With Court

Islamabad, Pakistan: Pakistan Prime Minister Yousuf Raza Gilani appeared at the Supreme Court in Islamabad in an attempt to defuse a brewing fight with the judiciary and army that has destabilized the country in recent weeks.

The court earlier this week ordered Mr. Gilani to appear to explain why his government had failed to comply with a two-year-old court order to reopen graft investigations into President Asif Ali Zardari.

On Thursday, Mr. Gilani reiterated the government's position that Mr. Zardari is covered by presidential immunity from such a probe. The court adjourned proceedings to Feb. 1.

Pakistani Prime Minister Yousuf Raza Gilani waved as he left the Supreme Court in Islamabad, Jan 19, 2012.

Mr. Gilani's decision to attend the hearing and show the court the government respects the institution signals a change of tack by the ruling Pakistan People's Party as it tries to ease tensions with the nation's top judges. Read More...

India's top order needed to fire

Perth, Australia: INDIA's underperforming top order will need to produce something special when they face Australia in the third Test at the WACA Ground starting on Friday if the tourists are to save the series.

Down 2-0 in the four-Test series and without a century so far with the bat, India could scarcely have picked a tougher venue to try to rediscover their form and resolve after an ugly streak of six away Test losses on the bounce.

Perth's WACA strip is a world away from the low and slow subcontinent pitches India's batsmen thrive on, especially after groundsman Cam Sutherland boldly declared the venue finally back to its venomous best.

Curator Cameron Sutherland rolls his green Test wicket at the WACA in Perth

Sutherland predicted it would be considerably faster and bouncier than when Australia thrashed England by 267 runs there last summer and just two of the 40 wickets fell to spin.

Australian batsman Mike Hussey said a spicy deck would clearly favour the home side, who have been dominant so far against a disappointing India. Read More...

Iran's uranium enrichment a nuclear 'escalation': US

The United States has said that Iran's uranium enrichment at heavily fortified Fordu underground site near Qom is a "further escalation" in the nuclear showdown with the international community.

Iranian President Mahmoud Ahmadinejad, center, visits the Natanz Uranium

"We are closely monitoring their nuclear programme in general, and this development, given
their track record and what the IAEA inspectors have been able to report, it's not a surprise to us, what we're hearing," state department spokesperson Victoria Nuland told reporters.

The state department's response came after Iran announced over the weekend that the Fordo plant near Qom city will be inaugurated soon and will have the capacity to produce uranium enriched to 20%. International Atomic Energy Agency has confirmed that Iran has begun enriching uranium at Fordu.

"If they are enriching at Fordu to 20%, this is a further escalation of their ongoing violation with regard to their nuclear obligations, including the legally binding UN Security Council resolutions," Nuland said.

"So obviously, we call on Iran once again to suspend enrichment activities, cooperate fully with the IAEA and immediately comply with all Security Council and IAEA Board of Governors resolutions," Nuland said in response to a question.

The inspectors of IAEA, she said, have found that Iran is not complying with its obligations.

"Iran plays this game with the inspectors. They let them go some places at some times when it seems to suit their purposes, but that doesn't change the fact that what the inspectors are now reporting is that they are taking the next step and escalating their violations of their own commitment," she said.

Cong free to go with CPM, we can fight polls alone: Mamata

West Bengal chief minister Mamata Banerjee

The widening rift between Congress and Trinamool Congress on Saturday came out in the open with West Bengal chief minister Mamata Banerjee lashing out at her ally at the Centre and said it was free to quit the alliance.

The Trinamool chief accused the Congress of spreading canard against her party because it had opposed FDI in retail, petrol price hike and interference in the federal structure.

"Congress is spreading canard and is carrying out false propaganda against TC on the issue of assault on the principal of Raigunj University college on January 5 because we opposed FDI in retail, frequent petrol price hikes and total interference into federal structure.

"Lokayukta was forcibly included in the Lokpal bill. They (Cong) had not paid heed to our words. Voting was not done on it," Banerjee told reporters at the state secretariat. Read More...

Australia in control after bowlers dominate day one

It may be a new year but India seem bent on going retro in a tribute to the 1990s, a period which saw their ‘tigers at home, lambs abroad’ reputation travel with them. There was the inevitable sense of déjà vu as they were bowled out for a mere 191 soon after tea on Day one of the second Test at the Sydney Cricket Ground. Zaheer Khan did bring them back into the game with three wickets at the top of Australia’s order, but India again frittered away the opportunity provided by the early breakthroughs, enabling Australia to end the day at 116-3.

Top-order trouble

India yet again got off to a terrible start in the first session of a Test and lo behold this time too it stemmed from the top. Forget a noteworthy one, today there was no opening partnership at all. Gautam Gambhir flirted with a delivery outside the off stump and edged an easy catch to Michael Clarke in the very first over to give Australia an advantage straight away. This was after Indian captain MS Dhoni won the toss and opted to bat on a pitch that looked like it was excellent for batting but had a tinge of green in it.

Gambhir hasn’t scored a Test century in nearly two years now and very clearly has a problem of playing away from his body that needs sorting out. After a spectacular 2007 and 2008, his form has slowly deteriorated with the past six months being completely forgettable. He missed the tour to the Caribbean courtesy a shoulder injury and thereafter has averaged just 22 from 14 innings. If you look at the 5 Tests he has played for India away from home during this period - his average drops to paltry 13.

With Gambhir gone, the middle order caved into the pressure exerted by some fantastic bowling from the pace trio – Pattinson, Siddle and Hilfenhaus.  Dravid couldn’t replicate his good form from 2011 and and offered an inside edge straight to short leg.  Sehwag lived a customary dangerous life before lack of footwork saw him help an edge on its way to the keeper.  Laxman’s woeful run in his once favourite haunt continued with another cheap dismissal – Pattinson tricking him into driving a full delivery that took a thick edge to third slip. Kohli meanwhile wasted another opportunity to make the number 6 slot his own.