Moscow signals support for Georgia break-up

Moscow signals support for Georgia break-up

By Charles Clover and Roman Olearchyk in Tbilisi

Published: August 14 2008 19:13 | Last updated: August 14 2008 19:13

Russia indicated on Thursday that it was prepared to break up Georgia as tensions with Washington increased over US aid flights to the country.

Sergei Lavrov, Russia’s foreign minister, said: “One can forget about any talk about Georgia’s territorial integrity because, I believe, it is impossible to persuade South Ossetia and Abkhazia to agree with the logic that they can be forced back into the Georgian state.”

As if on cue, the Russian-backed leaders of South Ossetia and Abkhazia walked out of a meeting with Dmitry Medvedev, Russian president, and announced they would push for total independence from Tbilisi, which would be a formality as Russian troops already occupy the enclaves and the Georgian army is routed.

“We will achieve independence in accordance with all of the rules of international law,” Eduard Kokoity, the South Ossetian leader, told a press conference in Moscow, flanked by his Abkhaz counterpart Sergei Bagapsh. “The aim [of independence] has been set and we will move toward it together,” Mr Bagapsh said.

Mr Medvedev said Russia would act as guarantor for the two territories whatever they decided about their future status.

Whether the break-up of Georgia is a real Kremlin policy goal, or a short-term negotiating position, was unclear. Analysts have said Moscow was deeply angered by western backing for Kosovo independence in February and wanted to set an example to the west in Georgia.

George W. Bush, US president, signalled on Thursday that the break-up of Georgia or the loss of its sovereignty was unacceptable to the US. He said Washington, which backs Tbilisi, would seek to preserve “a sovereign, free Georgia and its territorial integrity”, according to a US administration official.

Tensions between Russia and the US have risen following Mr Bush’s announcement of US aid to be delivered on military flights and navy ships to Georgia.

The deputy chief of Russia’s armed forces, Anatoly Nogovitsyn, said the US should disclose what was in the aid cargoes. “Let’s ask the American side so that you are convinced of whether the cargo is humanitarian or not,” he said.

The second US aid flight arrived on Thursday, carrying sleeping bags, medical supplies and antibiotics, a US aid worker said. Manana Jebashvili, Georgia’s deputy health minister, said 175 Georgians had died in the conflict, both military and civilian. She said the government does not have reliable data yet on refugees.

Aid groups called for a humanitarian aid corridor to be opened to the central city of Gori, which has been closed off after being occupied since Wednesday by Russian troops. According to witnesses, Russian troops looted and destroyed a Georgian army base there.

Georgia’s government said Russian troops had again moved into the port of Poti. Earlier the troops had sunk Georgian coastguard vessels there with explosives.

Human Rights Watch, the New York-based monitoring group, said its representatives had seen South Ossetian militia looting and burning Georgian towns outside the enclave near Gori.

●  Angela Merkel, German chancellor, will travel to Georgia on Sunday for talks with President Mikheil Saakashvili aimed at forging a lasting peace between Tbilisi and Moscow, Reuters reports . Ms Merkel will meet Mr Medvedev on Friday.

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Lebanon PM’s visit builds Syria bond

By Ferry Biedermann in Beirut

Published: August 14 2008 23:16 | Last updated: August 14 2008 23:16

Lebanon and Syria agreed on Thursday on a range of measures to reduce tensions, following the establishment of full diplomatic relations on Wednesday for the first time since both countries became independent in the 1940s.

The agreements, announced at the end of the first visit to Damascus by Michel Suleiman, Lebanon’s new president and former army commander, are expected to ease Syria’s reconciliation with the west.

They pave the way for a visit to Damascus next month by Nicolas Sarkozy French president, who last month hosted President Bashar al-Assad in Paris, after years of western attempts to isolate Syria.

The restoration of ties marks the first formal Syrian recognition of the sovereignty of Lebanon, a country over which Damascus has often tried to exert influence, if not control.

Both sides agreed to work on demarcating the border – a long-standing Lebanese demand. Syria also agreed to look into the fate of hundreds of Lebanese citizens detained by Syrian forces during their 30-year military presence in Lebanon that ended in 2005.

Syria pulled its forces out of Lebanon following the assassination of Rafiq al-Hariri, former prime minister, in 2005, for which many Lebanese blamed Syria. Damascus has denied involvement.

Saad Hariri, Rafiq Hariri’s son and political heir, who leads the anti-Syrian parliamentary majority in Lebanon, welcomed the agreements. “This announcement is a historic step toward rectifying relations,” he said.

The rapprochement could be tested, however, when a United Nations investigation into Hariri’s killing publishes its results and when the international tribunal created by the UN to investigate the case starts issuing indictments.

Hours before the start of President Suleiman’s visit to Damascus, a bomb blast in the northern Lebanese city of Tripoli killed at least 15 people, including 10 soldiers.

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The Short View: Credit squeeze outlook

By John Authers, Investment Editor

Published: August 14 2008 18:13 | Last updated: August 14 2008 18:13

The logic of the credit squeeze is inexorable. The latest data from banks, and prices in the secondary credit market, point to a much slower economy.

The Federal Reserve’s survey of US banks’ senior lending officers came out with little fanfare this week. In the past it has proved to be an excellent leading indicator. When banks tighten the supply of credit, historically this has led to lower employment, lower investment and lower consumer demand, with a lag of between six months and a year.

Lending officers said they were continuing to tighten standards, whether on credit cards, prime mortgages, consumer or business loans, even though a strong majority of banks had done this in the second quarter. That implies a squeeze on consumption, and lower investment, as the year goes on.

A similar exercise by the European Central Bank, polling lenders in the eurozone, seemed a little less gloomy, but only on the surface. There were slight decreases in the proportion of banks planning to tighten standards for corporate and household loans, but the supply of consumer credit was still tightening. Furthermore, lending officers said demand for company loans was decreasing and economic risks were putting pressure on them to tighten.

The implications are not lost on the credit market. The recovery for credit in the wake of the Bear Stearns crisis petered out in May. Since then, in Europe and the US, the cost of insuring against default for investment-grade companies has risen but stayed well below recent highs, while the default risk for high-yield or lower-quality credits has shot up, almost regaining its highs. Spreads payable on speculative-grade credits are at their highest in four months.

With banks planning to lend less and charge more for loans, this makes sense; it will be harder for companies to avoid default.

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India approves 21% civil service pay rise

By Amy Kazmin in New Delhi

Published: August 14 2008 16:38 | Last updated: August 14 2008 16:38

The Indian cabinet has approved an average 21 per cent pay rise for 5m federal employees and military personnel, the first revision of government salary scales for 12 years.

P. Chidambaram, finance minister, said on Thursday that the civil servants’ pay rise, to be backdated to January 1 2006, would cost Indian taxpayers $3.6bn (€2.4bn, £1.9bn) this fiscal year, including part of the arrears from 2006.

Separately, Indian Railways will have to pay $1.5bn to its employees.

The pay rise comes at a time of concern about rising inflation, which was reported on Thursday to have hit a 13-year high of 12.4 per cent for the 12 months to the beginning of August.

Economists have also given warning about the health of government finances, given New Delhi’s growing subsidy burden for fuel and other necessities. Such off-budget liabilities are now estimated to exceed 5 per cent of gross domestic product.

Subir Gokarn, chief economist for the Asia-Pacific region at Standard & Poor’s, said that with elections due by the end of May 2009, the Congress-led coalition government had little choice but to implement recommendations made earlier this year by a formal pay panel known as the Sixth Pay Commission.

“Not having done it would have cost them heavily,” Mr Gokarn said. He estimated that the pay rise would cost 0.4-0.5 per cent of GDP, a pittance by his calculation compared with the size of the government’s off-budget liabilities.

Mr Chidambaram said the salary rise had been factored into the government budget for the current fiscal year and would not affect the budget deficit target of 2.5 per cent of GDP.

Manmohan Singh, prime minister, is expected formally to announce the wage increase during his televised national address on Friday to celebrate the 61st anniversary of India’s independence. While the rise will only benefit federal employees, India’s state governments will probably feel pressure to follow suit as elections loom.

The pay arrears will be distributed in two portions, with 40 per cent in the year ending March 2009 and the rest next year. Officials will receive higher wages starting in September.

Mr Chidambaram expressed “disappointment” on Thursday at the recent increase in India’s inflation, according to local media reports. Last month, the Reserve Bank of India raised its benchmark interest rate by 50 basis points to a seven-year high of 9 per cent – the third rise in two months.

Mr Gokarn said tightened monetary policy would offset the inflationary impact of the pay rise. “This does obviously go against the move of restraining demand, but that has been accommodated by [a] relatively tight monetary stance,” he said.

The move also comes just a day after the prime minister’s Economic Advisory Council warned that the government’s fiscal situation “no longer looks stable or sustainable” as a result of the growing subsidy bill.

Surjit Bhalla, managing director of Oxus Research and Investments, said pay rises were necessary for the government to compete with the private sector for talented candidates.

“Pay rises are normal,” he said. “Unlike the private sector, [government staff] don’t get productivity increases as each year goes by . . . You have to do it through this massive exercise.”

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US rules out military force but warns of soured ties

By Andrew Ward in Washington and Roman Olearchyk in Tbilisi

Published: August 14 2008 19:53 | Last updated: August 14 2008 19:53

Washington on Thursday made clear it had no plans for military intervention in Georgia’s conflict with Russia but warned that US relations with Moscow could be affected for “years to come” by the crisis.

A second US air force cargo aircraft arrived in Tbilisi carrying humanitarian supplies but Robert Gates, the defence secretary, said he did not see “any prospect” of the US using military force in Georgia.

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Liechtenstein lays plans for more transparency

By Haig Simonian in Vaduz

Published: August 15 2008 02:08 | Last updated: August 15 2008 02:08

Liechtenstein, the tiny Alpine state famed for its financial secrecy laws, will reveal on Friday it is considering plans to make it harder for wealthy foreigners to hide money in its banks.

Prince Alois, the hereditary ruler, will take the first step in a national day speech towards preparing the principality’s 34,000 people for the greater transparency demanded by international authorities trying to crack down on tax evasion.

Otmar Hasler, the prime minister, said the time had come for Liechtenstein to take the initiative after mounting criticism of its secrecy laws.

“We will not give up bank secrecy,” said Mr Hasler. “But we are willing to collaborate with other nations when it comes to the misuse of bank secrecy laws for tax evasion.”

Mr Hasler declined to detail the initiative but one measure being considered was thought to be an offer to give governments information about people with undeclared accounts provided they did not suffer excessive penalties.

Under the scheme, account-holders would be told their details were to be made available, giving them time to transfer their money elsewhere.

The plan would aim to improve Liechtenstein’s reputation as a transparent financial centre focused on wealth management rather than a tax haven.

Many of its banks’ customers are the offspring of people who salted money away decades ago and may welcome the chance to come clean with the authorities.

Greater co-operation would meet the demands of the Organisation for Economic Co-operation and Development and big neighbours that have been accusing Liechtenstein of aiding tax evasion indirectly for years.

More recently, Vaduz has come under fire from Germany after it found that thousands of its wealthy citizens had hidden money in Liechtenstein. Data stolen by former bank employees and obtained by Berlin have also been passed to tax authorities around the world, including the UK, the US and Italy.

Mr Hasler’s initiative faces obstacles. A general election is to be held in February and the powerful financial lobby opposes change, fearing a loss of business if customers shifted assets to other tax havens.

In addition, although Prince Alois, a trained accountant, supports the scheme, he could be opposed by Hans-Adam II, his father, who remains influential.

Furthermore, foreign governments may object to any suggestion that they agree with Vaduz on sanctions for account-holders who come forward.

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Georgia says Russian troops moving into Gori

20 hours ago

GORI, Georgia (AP) — The Georgian Foreign Ministry says more Russian troops have moved into the city of Gori after a withdrawal had appeared to be under way earlier in the day.

Ministry spokeswoman Nato Chikovani said Thursday that Russian troops also moved into the Black Sea oil port city of Poti, from which they had appeared to leave earlier.

Russian and Georgian soldiers briefly confronted each other at a checkpoint on the outskirts of Gori around midday on Tuesday. Russian tanks hurried to the scene to force the Georgians to back off.

The cause of the apparent breakdown of the Russians' withdrawal from Gori was not immediately known, although some Georgian police said the Russian's South Ossetian allies had refused to leave the city.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

GORI, Georgia (AP) — Russian troops began pulling out Thursday from this hub on Georgia's main east-west highway, Georgia's Interior Ministry said, where the soldiers' presence raised fears that Russia would challenge a shaky cease-fire agreement.

The strategically located city is 15 miles south of South Ossetia, the separatist region where Russian and Georgian forces fought a brutal five-day battle. Russian troops entered Gori on Wednesday, after the two sides signed the cease-fire that called for their forces to pull back to the positions they held before the fighting started.

The first of two planned U.S. aid flights arrived in the Georgian capital of Tbilisi late Wednesday, carrying cots, blankets and medicine for refugees displaced by the fighting. The shipment arrived on a C-17 military plane, an illustration of the close U.S.-Georgia military cooperation that has angered Russia.

Besides the hundreds killed since hostilities broke out, the United Nations estimates 100,000 Georgians have been uprooted; Russia says some 30,000 residents of South Ossetia fled into the neighboring Russian province of North Ossetia.

Interior Ministry spokesman Shota Utiashvili said that besides Gori, Russian troops have also left Poti, a Black Sea port city with an oil terminal that is key to Georgia's fragile economic health.

Georgian police on the outskirts of Gori halted civilian traffic on Thursday morning. They said some Georgian soldiers had gone into the city to check for explosives.

Later, a convoy of 10 Georgian armored personnel carriers headed toward the city, with helmeted gunners perched in the vehicles' hatches.

Gori was battered by sporadic Russian bombing before the cease-fire, with Russia saying it was targeting a military base near the city. The arrival of Russian troops raised suspicions that Russia would try to cut the country in half.

The troops' presence also was viewed by many as a demonstration of the vulnerability of Tbilisi, which lies about 60 miles east of Gori.

The truce allows Russian forces to take unspecified "security measures," raising the possibility they could try to stay in Georgia proper under the justification of protecting their troops in South Ossetia.

President Bush said he was sending Secretary of State Condoleezza Rice first to France and then to Tbilisi to reinforce U.S. efforts to "rally the world in defense of a free Georgia."

For her part, Rice said: "This is not 1968 and the invasion of Czechoslovakia where Russia can threaten a neighbor, occupy a capital, overthrow a government and get away with it. Things have changed."

Georgian President Mikhail Saakashvili has criticized Western nations for failing to help the U.S. ally that has been seeking NATO membership.

Although the cease-fire appears to have stilled the fighting for the time being, the status of South Ossetia and the other Russian-backed Georgia separatist region, Abkhazia, remain tense issues. No country formally recognizes their separatist governments, although Russia has close ties with both regimes.

Russia alleges that Georgia committed genocide against South Ossetians, and the Russian General Prosecutor's office on Thursday said it has formally opened a genocide probe.

Georgia this week filed a suit against Russia in the International Court of Justice, alleging murder, rape and mass explusions in both provinces.

Georgia, bordering the Black Sea between Turkey and Russia, was ruled by Moscow for most of the two centuries preceding the 1991 breakup of the Soviet Union.

Russia has distributed passports to most in South Ossetia and Abkhazia and stationed peacekeepers there since the early 1990s. Georgia wants the peacekeepers out, but Russian President Dmitry Medvedev has insisted they stay.

Associated Press writers Misha Dzhindzhikhavili in Tbilisi and Jim Heintz in Moscow contributed to this report.

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Create a global authority for Arctic oil and gas

by Jeffrey Garten

Published: August 14 2008 19:21 | Last updated: August 14 2008 19:21

Whatever happens with the development of alternative fuels, and however much we economise on using energy, the world will be reliant on oil, gas and coal for decades. The challenge of developing conventional energy sources in an environmentally sustainable way is one of the most critical we face. We therefore need to create an institution imbued with sovereign powers to develop the massive fuel sources in the Arctic Circle. It would be a far-reaching step, but the stakes warrant a special attempt to take it.

Last month the US Geological Survey released the results of a four-year study showing that the Arctic Circle contains sufficient energy supplies to have a big impact on supply: 90bn barrels of oil, 1669 trillion cu ft of natural gas and 44bn barrels of natural gas liquids. That represents 13 per cent of the world’s undiscovered oil – the “largest unexplored prospective area for petroleum on earth”, according to the USGS. It equals 30 per cent of the world’s undiscovered gas, or nearly two-thirds of the proven gas reserves of the Middle East; or 20 per cent of the world’s undiscovered liquid hydrocarbons.

However, developing the Arctic Circle is so rife with conflicting interests among governments, businesses and non-government organisations that years of delay are likely. At least five countries lay claim to the region’s energy resources: Russia, Canada, the US, Denmark and Norway. Conflicts are already brewing about who owns what, with Russian assertions of sovereignty particularly brazen when Moscow planted its flag on the ocean floor beneath the North Pole.

In addition, energy development must avoid any further destruction of Arctic wildlife. It must take account of the habitats of indigenous people. As the polar ice cap melts because of global warming, the Arctic is becoming an important shipping lane between Europe and Asia, raising a host of transport-related regulatory concerns.

Existing international law cannot deal with all forthcoming disputes. The sheer number of international bodies that claim some jurisdiction – including the Arctic Council, the Law of the Sea Convention, the United Nations International Maritime Commission – is a recipe for institutional competition, polarisation and delay. And a multilateral agreement among governments would not suffice, for it is sure to lead to another intergovernmental process bogged down in slow-motion bureaucratic machinery whose activity is paralysed by the threat of national vetoes.

We need to create an organisation to which sovereignty is ceded by the nations around the Arctic Circle. Governments would have an advisory role, as would industry and other interests, but none would be able to override the decisions of the new Arctic Authority. Its mission would be to ensure that the maximum amount of energy is produced consistent with consideration for the environment and other issues. It would be responsible for creating order out of what will otherwise become a national scramble for resources that could even have military implications.

The Arctic Authority would have the power to gather information from all countries, companies and NGOs involved. It would hold public hearings, weigh scientific and other kinds of evidence, make executive decisions on rules relating to the exploration and distribution of energy sources and adjudicate appeals. By imposing a modest levy on all oil and gas production, it would have the resources to invest in environmental protection. It would not own the natural resources, but would decide on the rules for governments and for companies (publicly listed, private, state-owned) that govern energy-related activity in the region.

There is a precedent. In 1951, six European nations formed the European Coal and Steel Community, to which they ceded sovereignty over their coal and steel resources. They took this momentous step because tensions among countries over these industries were seen as being at the heart of two previous wars. The ECSC showed that, in a circumscribed area of industry, there was an alternative to destructive nationalist rivalries on the one hand and inefficient intergovernmental organisations on the other. It became the forerunner of the European Union.

In the wake of a spreading credit crunch, the failed Doha trade negotiations and rising resource nationalism, enhanced global co-operation in any area might seem far-fetched. Nevertheless, is not this the moment for world leaders to show they are capable of meeting new challenges in new ways?

The writer is the Juan Trippe professor in international trade and finance at the Yale School of Management

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Merrill Lynch Books Losses Through U.K. Unit, Can Offset Taxes

By Zachary R. Mider and Cathy Chan
Enlarge Image/Details

Aug. 15 (Bloomberg) -- Merrill Lynch & Co. booked $29 billion of losses from U.S. subprime mortgages and collateralized debt obligations through its U.K. unit, making it unlikely it will pay U.K. taxes for years to come.

Most of the losses were recorded this year, including $5 billion from the sale of $30.6 billion in collateralized debt obligations, the New York-based firm said in an Aug. 5 filing with the U.S. Securities and Exchange Commission.

Merrill's U.K. tax losses may cut its future tax bills by as much as $8 billion, based on a corporate tax rate of 28 percent, said the Financial Times newspaper, which first reported the firm's U.K. tax disclosure on its Web site. Merrill's U.K. subsidiary may not have to pay taxes for as long as 60 years, the paper said.

``It obviously makes commercial sense, though it would be subject to certain legal and tax law restrictions,'' said John Gu, a Hong Kong-based tax partner at KPMG International. ``No company wants the mismatch by losing money on one unit while paying tax on another profitable operation.''

Financial companies worldwide have reported writedowns and credit losses of more than $500 billion since the start of 2007. Some Wall Street firms may pay little or no New York City or state taxes for years, Mayor Michael Bloomberg said this week.

Some companies are seeking refunds from the city on taxes they paid ahead of time, saying losses have cut their tax liability to zero. The banks pay tax on 110 percent of earnings in advance as a ``safe harbor,'' protecting against penalties for underpayment.

Wall Street Taxes

``It will be a number of years before Wall Street starts paying taxes again,'' the mayor said at a press conference Aug. 11 in Manhattan. ``They will carry forward all of those losses.'' The mayor is founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.

Jessica Oppenheim, a Merrill spokeswoman in New York, declined to comment. Rob Stewart, a spokesman in Hong Kong, also declined to comment.

Merrill's losses led to the replacement of Chief Executive Officer Stan O'Neal with John Thain. Last month, Thain raised $9.8 billion in a share sale and sold the CDOs for 22 cents on the dollar to Lone Star Funds, a Dallas-based investment manager.

``The loss has an unlimited carryforward period and a tax benefit has been recognized for the deferred tax asset,'' Merrill said in the regulatory filing.

Merrill has taken $51.8 billion in losses and cut 5,220 jobs while Citigroup Inc., the largest U.S. bank by assets, lost about $55 billion and slashed more than 14,000 jobs, according to data compiled by Bloomberg News.

Spreading Taxes

Merrill, which lost money for four straight quarters, recorded a $4.2 billion global income tax benefit in 2007 and $4.8 billion in the first six months of 2008, according to company reports.

``It's one of the tax-planning ideas caused by uneven distribution of profit and loss at a multinational,'' said Jane Hui, a Hong Kong-based tax partner at Ernst & Young LLP. ``When a company expects that its losses cannot be recovered in the foreseeable future, it'll think of a way to utilize the tax law in a more efficient way.''

One of the ways to spread the tax burden is to reallocate costs of headcount in different regions to match revenue and profit, Hui said.

Companies such as Merrill are allowed to use those benefits to get refunds on taxes paid in the prior two years and to offset tax payments going forward for as long as two decades, said Robert Willens, president and chief executive officer of Robert Willens LLC, a tax consulting company in New York, on Aug. 13.

While analysts expect firms including Merrill and Lehman Brothers Holdings Inc. to report losses for 2008, some other Wall Street firms will probably remain profitable and keep paying taxes. Goldman Sachs Group Inc. and Morgan Stanley, the two largest U.S. securities firms, are expected by analysts to record profits this year.

Goldman had a net tax expense of $6.01 billion in 2007, including $488 million in current and deferred state and local taxes, according to the company's annual report.

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高速道路の料金、下げ幅拡大検討　国交相

　谷垣禎一国土交通相は15日の閣議後の記者会見で、政府の総合経済対策に盛り込む方針の高速道路料金引き下げについて「もう少し深掘りできないか、事務方に検討を指示した」と述べた。国交省は道路特定財源の約1400億円を使って今秋にも高速道路の通行料金下げを予定している。この発言は補正予算での原資確保を前提に、値下げ幅の拡大を検討する考えを示したものだ。

　国交相はそのうえで値下げ方法について、「長距離輸送の利用が多い夜間、レジャー目的での利用の多い休日など、メリハリのある形でやりたい」と語った。

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景気減速で地方税収低迷　不交付団体が８年ぶり減少

　国の支援を受けずに財政運営できる地方自治体の数が減少に転じた。総務省のまとめによると財源不足を補う普通交付税を受けない「不交付団体」は今年度、 179と前年度より９自治体減。景気減速による地方税収の伸び悩みが要因で、減少は８年ぶりだ。一方、横浜市は納税者数の増加で47年ぶりに不交付団体となった。

　増田寛也総務相が15日の閣議で2008年度の「普通交付税大綱」を報告した。法人住民税が減少する埼玉県上尾市、静岡県袋井市、徳島県阿南市など15自治体が新たに交付税を受ける。逆に横浜市、茨城県ひたちなか市など６自治体が不交付団体に加わった。

　都道府県別で不交付団体数が最も多いのは愛知県の37。神奈川県（23）、東京都（17）、静岡県（15）の順だ。岩手や富山、鳥取など18県では不交付団体がゼロと、財政力の地域間格差は依然大きい。

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証券税制見直し、今夏の改正要望に　金融相

　茂木敏充金融担当相は15日の閣議後の記者会見で、株式投資の活性化に向けた証券税制の見直しについて、「何らかの形で今夏の税制改正要望に盛り込みたい」と表明した。自民党の麻生太郎幹事長が1人当たり300万円までの株式投資の配当金を非課税とする案を提唱するなど、様々な案が出ていることに関しては「いろんな提案が出てくるのは非常にいいこと。どのような案が効果があり現実的か、８月末に向けて考えていきたい」と述べた。

　財務省が税収減などを理由に慎重姿勢を見せていることに対しては「税制が変われば経済行動も変わり、税収も変わる。（政策の効果を）一時的ではなく、動的に考えることが必要ではないか」と指摘した。

　建設・不動産業の倒産が相次ぎ、銀行の不良債権処理損失が膨らんでいることに関しては、金融庁幹部の地方派遣などを通じ、実態把握に努める考えを強調した。

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ジャスダックの時価総額、4年半ぶり10兆円割れ

　新興株式市場のジャスダック市場の時価総額が14日、約4年半ぶりに10兆円を下回った。新興企業の成長期待の後退や、相次ぐ経営不振などへの不信感から個人投資家の見切り売りが続き、上場企業数の減少を招いたことが響いた。時価総額は直近ピーク時の半分以下と、東京証券取引所第1部の減少率（約3割）よりも大きく、個人の新興市場株離れが浮き彫りとなった。

　14日の時価総額は9兆9419億円。10兆円を下回るのは2004年2月5日以来。国内企業で時価総額が最も大きいトヨタ自動車の6割程度にとどまる。直近ピークの06年1月16日には21兆2265億円に達していたが、その後は減少傾向が続いた。ジャスダックで時価総額首位のヤフーは重複上場する東証1部の方が売買が活発なため、実質的な時価総額はさらに小さいとの見方もある。

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大手銀・地銀、不良債権処理7割増　4―6月4000億円

　銀行の不良債権処理損失が急増している。融資先の経営破綻に備えて積む引当金などの処理損失は、2008年4―6月期に大手銀行と地方銀行の合計で約 4000億円に上り、前年同期（2300億円）に比べて7割増えた。景気の停滞で幅広い業種で業績が悪化。特に地銀は取引先の建設・不動産業の倒産が相次ぎ、処理損失が倍増した。銀行がリスク管理のために融資に慎重になれば、景気を一層、冷やす要因になるとの指摘もある。

　4―6月期の不良債権処理損失は三菱ＵＦＪフィナンシャル・グループなど大手銀行6グループで5割増の約2400億円。地銀・第二地銀は14日までに決算を公表した107行の合計で約1600億円と、前年同期の2.1倍になった。

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初の国産商用通信衛星、打ち上げに成功　三菱電機

　三菱電機は15日、商用の通信衛星「スーパーバード７号機（Ｃ２号機）」の打ち上げに成功したと発表した。設計から製造まで同社が手掛けた初の国産商用衛星。現在、国内の通信・放送会社は18機の人工衛星を運用しているが、すべて米国製という。

　15日午前5時40分ごろ、南米ギアナから欧州アリアンスペース社の「アリアン５」ロケットで打ち上げた。打ち上げ時の衛星質量は約５トンで、設計寿命は15年。ＣＳ運営会社、宇宙通信の次期通信衛星で、運転試験などを実施後、秋ごろに引き渡す。映像などの配信に使用する。

　三菱電機は衛星の設計・製造から打ち上げまで請け負い、受注額は数百億円規模という。

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タカラトミー、中国玩具市場に攻勢

　タカラトミーは中国の玩具市場に本格参入する。アニメキャラクターの人形やカードゲームなど中国向け商品を来年から投入し、3年間で取扱商品を700品目に倍増。販路も拡大し、中国市場での売上高（出荷額ベース）を2008年3月期の3億円から100億円に引き上げる。国内の少子化を受け、同社は海外市場の開拓を急ぐ方針。中国は景気の不透明感があるものの、知的財産権の保護など事業環境の整備が進むとみて攻勢をかける。

　年内に国営放送の中国中央電視台（ＣＣＴＶ）などと共同で制作したアニメ「三国演義」を放映するのを機に、登場キャラクターなどを活用した中国専用商品を開発。上海や北京など主要都市で販売する。

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武田子会社、中国で「食の安全」支援　衛生管理や検査法紹介

　武田薬品工業の子会社で試薬大手の和光純薬工業は、中国で食品メーカーなどの安全性向上に向けた取り組みを支援する。10月に中国で「食品衛生検査セミナー」を開催。製造現場の衛生管理や最新の検査方法、日本の法令などについて理解を深めてもらうほか、同社の検査機器や試薬類の導入支援も手掛けて、中国での事業拡大につなげていく。

　セミナーは「食品と水の『安全』と『安心』の確保とその対策」がテーマ。日本向けに製品を出荷している食品メーカーが集積している青島と大連で実施する。和光純薬子会社の現地法人が事務局となり、現地の食品メーカーや商社が参加。衛生管理の概念から現場での取り組み、効率的で確度の高い検査方法などについて、日本で保健衛生行政に携わった専門家などが講演する。

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ＮＨＫ：セクハラで解任の元放送局長、子会社に再就職

　送別会で複数の女性にセクハラ行為をしたとして熊本放送局長を解任、減給処分を受けたＮＨＫ元職員が７月に子会社の制作会社「ＮＨＫ情報ネットワーク」（ＪＮ、東京都渋谷区）に再就職していたことが分かった。社会保険庁を廃止して発足する「日本年金機構」では懲戒処分歴のある職員の一律不採用が閣議決定されたのに比べ、国家公務員より身内に甘いＮＨＫの体質が浮き彫りになった。

　元職員は社会部出身。０７年４月に熊本放送局長を解任。放送総局付となった後、６月にライツアーカイブセンターに異動し、０８年６月に定年退職した。７月から報道系の子会社であるＪＮに幹部クラスのエグゼクティブ・プロデューサーとして雇用され、主にニュース原稿のデータベース化を担当している。ＪＮは「これまでの経験や仕事ぶりから必要な人材だと判断した。懲戒処分を受けて制裁は済んだと考えている」と説明。ＮＨＫ広報局は「個別の人事には答えられない」とコメントしているが、ＮＨＫ内部からは「目立たない部署で救済したのではないか」と疑問の声も出ている。

　ＪＮはＮＨＫが株式の約７割を保有し、社長や常勤取締役６人はすべてＮＨＫのＯＢ。

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五輪開会式「５６民族代表」もウソ
2008.8.15 17:30

　北京五輪組織委員会は１５日の記者会見で、８日の開会式で入場した中国の「５６民族の子どもたち」の多くが、実際には少数民族の衣装を着ただけの漢民族の子どもだったことを認めた。

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中国：北京五輪専用のバス、衝突し選手けが　軽貨物の中国人死亡

　【北京・浦松丈二】１４日の北京五輪組織委員会の定例会見によると、１３日午後２時（日本時間同３時）ごろ、北京市の五輪選手村からカヌー競技場がある同市郊外に向かっていた五輪専用バスと軽貨物車が衝突し、クロアチア選手２人が負傷した。貨物車の中国人２人は死亡、２人が負傷した。

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輸牛肉：豚骨の中に　スウェーデンの工場、輸入停止に

　農林水産省は１４日、食肉輸入業者のアグリ・トレイド社（東京）がスウェーデンから輸入した豚骨の中に、輸入が禁止されている牛ひれ肉が見つかったと発表した。市場には流通していない。同省は出荷元「ＳＣＡＮ　ＡＢ社」スカーラ工場からのすべての商品の輸入を停止し、同国政府に原因究明を要請した。

　同省によると、アグリ社は豚骨２４００箱（約２４トン）を発注。しかし１１日、東京港に到着した荷物を倉庫業者が検査したところ荷物は２４０２箱で、うち発注していない牛ひれ肉１箱（約８キロ）と豚もも肉１箱（約８キロ）がまじっていた。同省はアグリ社に対して全箱の検査を指示した。

　スウェーデンを含む欧州連合（ＥＵ）からの牛肉の輸入は、９０年代後半や００年にＢＳＥ（牛海綿状脳症）の発生が多発したため、月齢や部位にかかわらず０１年から禁止されている。スウェーデンは、０６年に１件のＢＳＥ発生例があるが、国際機関からは０８年５月、ＢＳＥの発生リスクが極めて低い国として認定されている。

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羽田空港：昼間発着枠、初の国際定期便　韓国と１日１２往復

　国土交通省は１４日、１０年１０月以降、羽田空港の再拡張に伴い国際線に開放される昼間帯発着枠（午前７時～午後１０時、年３万回）に対し、韓国・金浦空港との定期便に１日１２往復を配分すると発表した。羽田空港の昼間帯に国際定期便の発着枠を具体的に認めるのは初めて。また関西国際－金浦間について今冬以降、１日４往復を割り当てる。

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外務省：国連職員増員作戦　必死に魅力アピール　「一本釣り」や「ＯＢ訪問」

　外務省は国連機関に勤務する日本人職員を増やすための対策を本格化する。研究者やＮＧＯ職員らのなかから人材を「一本釣り」して国連への就職を直接促すほか、職員が大学や高校に出向いて国連の魅力をアピールする。

　国連によると、国連本部など主要機関に勤務する日本人職員は０７年で１０８人（女性６５人）で、米独仏伊に次ぎ５番目。しかし、国連への拠出金額（米国に次ぎ２位）や人口を基に国連が計算した日本人職員の適正規模（２８３人）の半分以下にとどまる。国連の仕事についての情報提供が足りず、関心が高まらないためだ。

　外務省はすでに国連機関就職のための研修制度を増やすなどの対策を実施している。

　今後は、同省職員が出身大学や高校で、就職を呼びかける「ＯＢ訪問」にも取り組む。大学の就職フェアでのＰＲにも力を入れる。

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後期高齢者医療制度：お年寄り悲鳴　難解書類、どっさり

　後期高齢者医療制度（７５歳以上）の混乱が続いている。保険料通知書が２度、３度と届いたり軽減措置が急きょ取られたりといった事情もあるが、混乱のそもそもの背景として、高齢者に分かりやすいように、その身になって考えたとは思えない国、自治体側の事務的な対応がありそうだ。【有田浩子】

　●夫婦に６通

　東京２３区に住む８４歳と８３歳の夫婦の元に７月、夫婦別々に計６通の厚い封書が３日連続で送られてきた。

　１通目に入っていたのは、今年度の保険料が確定したことを知らせる広報紙。広域連合と区と、同様のものが別個に同封されていた。他に政府・与党が６月に決定した新たな軽減措置や、保険料を年金天引きから口座振替に変更できることのお知らせなどが入っていた。２通目は新たな保険証。３通目は窓口負担割合の判定に関する書類だった。

　この夫婦は、保険証に医療費の窓口負担が現役世代並みの「３割」と明記され、申請により「１割」に変わるケースだった。３通目がその説明だったが、理解できなかった。そもそも書類が高齢者を想定したとは思えない量で、その多さに嫌気がさした。夫妻の場合は埼玉県に住む孫（２８）の手助けで手続きをとり、事なきを得たが、高齢者が気付かずに損をしているケースもありそうだ。

　●役所用語

　新制度で不評なのが年金天引き。１５日は３回目の天引きが行われるが、書類では「特別徴収」と「普通徴収」という法律用語が使われている。「特別」は年金天引き、「普通」は納付書や口座振替で納付することを指すが、そうした説明がないこともあり分かりにくい。

　運営主体として、都道府県ごとに全市町村が加入して作られた「広域連合」も混乱要因。保険料額を決めるのが広域連合で、保険料を集めるのは市町村と役割分担しているが、都道府県庁の一組織との誤解もあり、問い合わせの電話が錯綜（さくそう）してかかっている。

　福田康夫首相の指示で呼び名が土壇場で「長寿医療制度」と変わったことも、制度が二つあるという勘違いにつながっている。

　●世帯と個人

　京都府の主婦（７５）は軽減措置対策が決まり、収入が障害基礎年金のみの夫（７５）は対象になると期待していた。保険証は個人ごとに配られており、軽減も個人ごとに行われると考えたためだ。

　だが定額負担の「均等割り」は世帯単位で判定される。女性も別に年金を受け取っており、通知を見ると軽減対象にはならなかった。

　一方、個人単位で判定される所得比例の「所得割り」について女性のみ軽減される見通しで、こうした基準の異なる判断が混在していることが制度の理解を難しいものにしている。

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焼きいも屋台で覚醒剤売った暴力団元組長を逮捕
2008.8.15 16:25

　大阪市西成区の小学校近くの路上で、焼きいも屋台を偽装して覚醒（かくせい）剤が密売されていた事件で、大阪府警薬物対策課と西成署は１５日、麻薬特例法違反の疑いで、首謀者の山口組系の元暴力団組長、岸本昇容疑者（５８）＝大阪市西成区花園北＝を逮捕したと発表した。「部下が勝手にやった」と否認している。

　調べでは、岸本容疑者は今年２～５月、傘下の暴力団組員らに同区萩之茶屋の市道で覚醒剤を密売させた疑い。府警によると、岸本容疑者は約５年前から、１日４０～６０人の客に密売し、約４０万円を売り上げていたという。

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三浦容疑者弁護人が反論書
2008.8.15 14:01

　米ロサンゼルス銃撃事件で、逮捕状取り消し請求をロサンゼルス郡地裁に申し立てている元会社社長三浦和義容疑者（６１）＝日本では無罪確定＝の弁護人ゲラゴス氏は１４日、検察側への反論書を地裁に提出した。地元通信社ＣＮＳが伝えた。

　検察側は、三浦元社長の米国での逮捕容疑には、日本にはない「共謀罪」が含まれており、日米で別々の罪に問われているとの見解を主張している。反論書は、殺人の共謀についても日本で無罪が確定しており、判決が確定した事件で再び罪に問われない「一事不再理」の原則に反するとあらためて指摘した。

　逮捕状取り消し請求の審理は１５日午後（日本時間１６日午前）に開かれる。

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コーヒー・お茶、記憶力に効果？　北大教授ら仕組み発見

2008年8月15日16時51分

　記憶力増強には、コーヒーやお茶が効くかも――。カフェインによって記憶をつくる効率が変わる仕組みがあることを北海道大学の神谷温之（かみや・はるゆき）教授（神経生物学）らがマウスの脳を使った実験で見つけた。米科学アカデミー紀要電子版に発表した。

　神谷教授らは、細胞内のカルシウム濃度を調節する「リアノジン受容体」と呼ばれるたんぱく質に注目。このたんぱく質は、脳の中で記憶を作るのに重要な働きをする部分に多いことを見つけた。

　記憶は、神経細胞が変化して、信号が伝わりやすくなることでできると考えられており、細胞の変化にはカルシウム濃度がかかわる。神谷教授らは、カフェインでこのたんぱく質を刺激すると、細胞内のカルシウム濃度が通常より上がり、信号が伝わりやすくなることを確かめた。

　「これまで知られていたカルシウム濃度調節とは別の仕組みだ。応用して薬の開発などが期待できる」と神谷さんは話す。認知症や記憶障害の改善薬の開発に役立つ可能性があるという。

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BA signs agreement with AA and Iberia
Reuters
Reuters - Thursday, August 14 01:54 pm

LONDON (Reuters) - British Airways said on Thursday it had signed an agreement with American Airlines and Spain's Iberia for a transatlantic tie-up, and will now file for anti-trust immunity in the United States.
(Advertisement)

The carrier, which first said it was in talks with its American rival in April, said the three airlines would cooperate commercially on flights between the United States, Mexico and Canada and the European Union, Norway and Switzerland.

It said the trio would file for anti-trust immunity from the U.S. Department of Transportation also on Thursday, and would notify regulators in the EU.

Finnair and Royal Jordanian -- part of the 'Oneworld' alliance which also includes BA, American and Iberia but does not have anti-trust immunity -- will be part of the application.

Alliances allow airlines to share routes and cut back on capacity without going through with a merger. Other alliances with anti-trust immunity include the tie-up between BA rival Air France-KLM and U.S.-based Northwest Airlines .

Shares in BA, which is also in all-share merger talks with Iberia, were up 3.2 percent to 263.5 pence by 1:27 p.m., valuing the company at just over 3 billion pounds.

"This strategic relationship strengthens competition by providing consumers with easier journeys to more destinations," BA Chief Executive Willie Walsh said in a statement.

He added that the application for immunity came against the backdrop of the 'Open Skies' agreement, which allows any U.S. or EU airline access to Heathrow.

BA and American had applied for immunity before 'Open Skies' but without success.

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Barclays may write down 1.5 billion pounds more
Reuters
Reuters - Thursday, August 14 11:53 am

"It (the shares) - (Reuters) - Barclays may need to write down 1.5 billion pounds more over the next 18 months, analysts at Goldman Sachs said adding the bank has little room to absorb further material losses without the dividend potentially being cut or paid in shares.
(Advertisement)

Another brokerage, Cazenove, downgraded Barclays to "in-line" from "outperform," citing share price outperformance, and said though the bank had performed well given the disruption in financial markets, it still faces a weak economic outlook and lower balance-sheet gearing.

Goldman Sachs also said it remained concerned about the bank's capital position.

Barclays' interim results were disappointing as the weak underlying performance, excluding Barclays Capital revenue, were only saved by a strong performance on costs, Goldman Sachs said.

Last week, Barclays reported a 33 percent drop in first-half profits after taking a 2 billion pound writedown on the value of risky assets, and said challenging market conditions are likely to last through 2009.

On Barclays' credit market exposures, there is the potential for up to 4.6 billion pounds of further write-downs, Goldman added.

It raised its price target on the stock to 340 pence from 320, and reiterated its "sell" rating.

Cazenove, however, said the bank's first-half results were less pronounced than at many competitors, and write-downs taken by Barclays were broadly consistent with the range of figures disclosed by rivals.

Barclays was the best performing major European bank in the third quarter, with a share-price rise of 21 percent, Cazenove said.

"It (the shares) now trades at a premium to peers and, with no specific catalyst in view, we expect a period of share price consolidation," it said.

Shares of Barclays were trading down 2 percent at 345 pence by 11:33 a.m.

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GLOBE EDITORIAL
Getting real on Iran

August 14, 2008

THERE HAVE been welcome indications recently that the Bush administration intends to continue with purely diplomatic efforts to dissuade Iran from developing a nuclear weapons capability. As Secretary of Defense Robert Gates wrote in a recent article for the United States Army War College quarterly, "Another war in the Middle East is the last thing we need."

Recent admonitions to Israel not to bomb Iranian nuclear sites, delivered by top US military and intelligence officials, suggest that Gates is on firm ground. The warnings to Israel reflect a newfound willingness to weigh the risks in a matter that can have far-reaching security ramifications for America, Israel, and many other countries.

The assumptions underlying such caution include a belief that Iran still has a long way to go before it can produce a nuclear weapon; that Iran can be made to pay a much higher price for refusing to heed international demands to suspend uranium enrichment; and that bombing known nuclear sites in Iran would delay that country's progress on enrichment by at most a year or two - if that long.

The director of national intelligence, Mike McConnell, and the chairman of the Joint Chiefs of Staff, Mike Mullen, went to Israel in June and, according to the Washington Post, told Israeli defense officials that the United States would not permit Israel to fly through Iraqi airspace to bomb nuclear facilities in Iran. They reportedly argued that Iran was not close to producing a nuclear weapon, and that an Israeli strike against Iranian targets would damage US interests.

This is a sound approach, at least for now. Iran has undoubtedly dispersed centrifuge facilities in underground locations. Bombing the above-ground sites would not only provoke Iranian retaliation, but would likely cause Iran to accelerate its nuclear program.

To reassure Israel, Gates has wisely offered to station an advanced radar system there and to integrate Israel directly into America's early warning satellite network. He also proposed increased US funding for anti-missile and anti-rocket systems Israel has been developing.

President Bush would also be wise to heed Israeli suggestions that he obtain Russia's cooperation in greatly strengthening sanctions on Iran. To do so, Bush would have to cancel the seriously flawed missile-defense system he has been trying to deploy in Poland and the Czech Republic. He would be giving up a leaking umbrella for a chance to stop Iran from becoming a nuclear power.

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U.S., Poland sign missile defense deal-2

15/08/2008 12:11 (Recasts throughout, adds details, background, White House, Tusk quotes, Russian response)

WASHINGTON, August 15 (RIA Novosti) - The United States and Poland have signed an agreement to deploy U.S. interceptor missiles in the former Communist-bloc country.

The news comes amid a military crisis in Georgia that has provoked strong criticism of Moscow by the U.S. and other Western countries.

The preliminary deal to place elements of the U.S. global missile defense shield, signed by Polish Deputy Foreign Minister Andrzej Kremer and U.S. chief negotiator John Rood late on Thursday, is likely to further fuel tensions between Washington and Moscow.

Russia is strongly opposed to the missile shield plan, which it says will undermine its nuclear deterrent and threaten its national security.

Washington says plans to place 10 interceptor missiles in Poland coupled with a radar system in the Czech Republic are intended to counter possible attacks from what it calls "rogue states," including Iran.

The agreement was reached after Washington agreed to reinforce Poland's air defenses. The deal is still to be approved by the two countries' governments and Poland's parliament.

Polish Prime Minister Donald Tusk said in televised remarks that "the events in the Caucasus show clearly that such security guarantees are indispensable." The U.S.-Polish missile talks had been dragging for months before recent hostilities in Georgia.

Moscow has accused the West of bias in favor of Georgia and reliance on statements from Tbilisi during the South Ossetia armed conflict. Russia says it deployed additional troops to South Ossetia to reinforce its peacekeepers and protect civilians after Georgia attacked the capital of the breakaway republic on August 8.

White House and State Department officials denied however that the signing of the deal was linked to events in Georgia.

"We certainly welcome the development. We believe that missile defense is a substantial contribution to NATO's collective security," White House press secretary Dona Perino said on Thursday, adding that the deal was a result of protracted negotiations.

Officials say the interceptor base in Poland will be opened by 2012. The Czech Republic signed a deal to host a U.S. radar on July 8.

Senior Russian lawmakers said on Friday the agreement would damage security in Europe, and reiterated that Russia would now have to take steps to ensure its security.

Andrei Klimov, deputy head of the State Duma's international affairs committee, said the deal was designed to demonstrate Warsaw's "loyalty to the U.S. and receive material benefits. For the Americans, it is an opportunity to expand its military presence across the world, including closer to Russia," he said.

"For NATO," he went on, "This is an additional risk...many NATO countries are unhappy with this, including the Germans and the French."

While Klimov called the agreement "a step back" toward the Cold War, he said the missiles were not that important strategically and were more of a political irritant. He also played down a link to developments in South Ossetia: "There might be a psychological element in it, but talks with Poland had been dragging on long enough beforehand."

Another senior State Duma member, Gennady Gudkov, said the deal would further divide European countries into U.S. "vassals" and those pursuing more independent policies.

Russian officials earlier said Moscow could deploy its Iskander tactical missiles and strategic bombers in Belarus and Russia's westernmost exclave of Kaliningrad if Washington succeeded in its missile shield plans in Europe. Moscow also warned it could target its missiles on Poland.