Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Indonesia to add photo warnings to cigarette packs

JAKARTA, Indonesia (AP) — Indonesia has issued regulations that will require cigarette packets to bear graphic photographic warnings, a long-delayed measure in a country with one of the highest rates of smoking in the world.
The regulations were watered down following opposition by tobacco farmers and cigarette companies, and fall far short of those in many Western countries and other Asian markets. Billboard and television advertising remains widespread, as is sponsorship of sports and pop music events.
The law regulating tobacco was issued in 2009, but the supporting regulations fleshing it out were not signed by President Susilo Bambang Yudhoyono until late December. They were posted in full on a government website late Wednesday. Tobacco companies will have 18 months to implement them.
The law bans companies from use terms such as "mild" and "light" in connection with their tobacco products, saying they are misleading. But a clause says those brands that are already registered trademarks will be unaffected, meaning that top companies with huge-selling lines will likely be able to keep selling them.
"There was lots of intervention from the companies," Tulus Bagus, from the Indonesian Consumer Foundation, said Thursday. "They are very strong."
Indonesian men rank as the world's top smokers, with two out of three of them lighting up. About 3 percent of women smoke in the country. Indonesia, with 240 million people, is the world's fourth most populous country and the fifth-largest cigarette-producing market, with an industry that employs millions.
In 2005, Philip Morris bought a large stake in Sampoerna, a local cigarette company, to expand its business in the country.
Under the new law, photos depicting the health effects of smoking must take up 40 percent of the area on the back and front of packets, less than many countries. According to the U.S. Food and Drug administration, more than 30 countries require such warnings and scientific evidence demonstrates that they encourage people to quit.
Sampoerna, whose Sampoerna Mild brand is a market leader in the country, said it was pleased to see a clause specifying that people under the age of 18 were prohibited from buying and smoking cigarettes. It declined further comment, saying it was studying the regulations.
Tobacco manufactures have waged an organized campaign against the laws, saying they would result in massive job losses.
"This regulation has taken into account the interests of the society without harming tobacco farmers," said Emil Agustiono, an official from the welfare ministry. "The important thing is that it will not weaken the economy."
A survey released last year by the World Health Organization and the U.S. Centers for Disease Control and Prevention found that 67 percent of all Indonesian males over 15 years old smoked. The sprawling archipelago ranked second overall with 35 percent of all males smoking, behind only Russia at 39 percent. According to WHO, smoking-related illnesses kill at least 200,000 people a year in Indonesia, where about a quarter of boys aged 13 to 15 get hooked on cigarettes, which sell for about $1 a pack.
Kartono Muhammad, an adviser to the National Commission on Tobacco Control, said the introduction of photographic warnings was a major victory, but regretted that selling cigarettes individually was not outlawed. Buying single sticks from street vendors or stalls is a common practice here.
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Venezuela's sick Chavez misses own inauguration bash

CARACAS (Reuters) - Venezuelan President Hugo Chavez remained on his sickbed in Cuba on Thursday while supporters planned to rally in his honor on the day he should have been sworn in for a new six-year term in the South American OPEC nation.
The postponement of the inauguration, a first in Venezuelan history, has laid bare the gravity of Chavez's condition after complications from a fourth cancer operation in his pelvic area.
It has also left his chosen heir, Vice President Nicolas Maduro - a former bus driver who shares his boss's radical socialist views - in charge of day-to-day government until there is clarity over whether Chavez will recover or not.
"People traveling on foot, the humble, the patriots ... tomorrow we're going to demonstrate, one proud people with one slogan: we are all Chavez!" Maduro said in a televised cabinet meeting late on Wednesday.
The president, whose legendary energy and garrulous dominance of the airwaves had often made him seem omnipresent in Venezuela since 1999, has not been seen in public nor heard from since his surgery on December 11.
Venezuela's 29 million people are anxiously watching what could be the last chapter in the extraordinary life of Chavez, who grew up in a rural shack and went on to become one of the world's best-known heads of state.
The saga also has huge implications for the likes of Cuba and other leftist allies who have benefited for years from Chavez's subsidized oil and other largesse.
A clutch of foreign friends, including the presidents of Uruguay, Bolivia and Nicaragua, were due at Thursday's events in Caracas despite Chavez's absence.
Government officials have called supporters to the streets around the presidential palace. It has been the scene of some of the biggest dramas of Chavez's rule, from protests in 2002 and a coup that toppled him briefly, to speeches after election wins and emotional returns from previous cancer treatments in Havana.
"Take your songs, take your banners, so everyone knows we are all behind Chavez in this revolution," Diosdado Cabello, the head of Congress and a close Chavez ally, urged the president's supporters.
'WHO WINS FROM CONFLICT?'
Venezuela's opposition leaders are furious at what they see as a Cuban-inspired manipulation of the constitution by Maduro, Cabello and other Chavez allies aimed at preventing the naming of a caretaker president due to Chavez's absence on Thursday.
Henrique Capriles, who lost October's presidential election to Chavez, said the opposition had no plans to risk violence by encouraging supporters to hold a counter-demonstration.
"Not calling people onto the streets is not a sign of weakness, but of responsibility," he told reporters. "Who wins from a conflict scenario? They win, the pseudo-leaders who are not the owners of the country, nor of its sovereignty."
The U.S. Embassy in Caracas advised American citizens in Venezuela to exercise caution during the next few days.
A top Venezuelan military officer told state TV the borders were being reinforced and security forces were patrolling intensively to bring people "a sense of peace and tranquility."
With government updates short on details, little is known about Chavez's actual medical condition and rumors are flying.
On Wednesday, the state telecommunications regulator told opposition TV station Globovision it was beginning punitive administrative proceedings against it for "generating anxiety" with its coverage of the president's health.
The government's version is that Chavez suffered complications including a severe lung infection after the latest surgery. But speculation is rife on Twitter that he may be on life support or at risk of major organ failure.
He has undergone four operations, as well as weeks of chemotherapy and radiation treatment, since being diagnosed with an undisclosed type of cancer in his pelvic area in June 2011.
He looked to have staged a remarkable recovery from the illness last year, winning a new six-year term in a hard-fought election in October. But within weeks of his victory he had to return to Havana for more treatment.
'REVOLUTION MUST CONTINUE'
In contrast with previous trips to Cuba, the government has not released any photos or video of him recuperating, and Chavez has not made any phone calls home to state media, fueling the impression that his condition is dire.
Though supporters maintain vigils and express hope he will recover, there appears to be a growing acceptance he may not, and a slow adjustment to the idea of a post-Chavez Venezuela.
"We are all necessary but nobody should be irreplaceable and the revolutionary process in our America must continue," said one friend and close ally, Ecuador's President Rafael Correa.
Though often viewed in the West as a clownish autocrat, Chavez has a kinder image in developing nations where many admire his defiance of the United States and efforts to improve the lives of Venezuela's poor.
At home, Chavez has a cult-like appeal for many in the slums due to his "anti-imperialist" rhetoric, his pumping of crude oil revenue into welfare projects, and his own humble background.
But Venezuela is deeply split, with opponents saying he has squandered an unprecedented bonanza of oil money with misguided policies. They also accuse him of allowing corruption to flourish and oppressing political opponents and media critics.
Should Chavez die or step down, a new election would be called and it would likely pit Maduro against opposition leader Capriles, the 40-year-old governor of Miranda state.
Analysts say Maduro would be hard to beat given Chavez's personal blessing and the emotional outpouring from supporters if the president were forced to leave office, though past polls have shown Capriles to be more popular than the vice president.
Foreign investors generally hope for a more business-friendly government in Venezuela so prices of its widely traded bonds have soared over the last few weeks on Chavez's health woes, but they dipped this week as investors' expectations of a quick change apparently dimmed.
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Censors kept busy as strike-hit Chinese paper hits newsstands

GUANGZHOU, China (Reuters) - A weekly Chinese newspaper at the centre of anti-censorship protests appeared on newsstands on Thursday as a newsroom strike ended amid fresh calls for the Communist Party leadership to loosen its grip on the media.
The strike at the Southern Weekly in affluent Guangdong province came after censors watered down a page-two editorial in the New Year edition. Calls for China to enshrine constitutional rights were replaced with comments praising one-party rule.
The rare newsroom revolt at one of China's most respected and liberal papers hit a raw nerve nationwide, with calls for freedom of expression led by bloggers with millions of followers such as actress Yao Chen and writer Han Han.
How the party responds to those calls will be a key indicator of new party leader Xi Jinping's reformist inclinations.
About six protesters were forcibly cleared from the gates of the paper by plainclothes officials on Thursday, shouting as they were bundled into vehicles as dozens of uniformed police officers looked on.
The problem of reconciling the conflict between conservatives and liberals was illustrated in scuffles and heated arguments outside the Southern Weekly's gates all week.
Leftists carrying Mao Zedong posters and red China flags repeatedly abused scores of Southern Weekly supporters for undermining China's socialist system and one-party rule.
"After we have full stomachs, we want to say more. This is normal," said Ye Qiliang, a young man in a brown jacket who opposed the Maoists in one evening protest.
"The media is the people's voice. We are now all Southern Weekly People."
While the paper's appearance in newsstands suggested a tentative truce between Southern Weekly journalists and censorship authorities, the latest issue carried subtle signs of resistance.
"GNAWING AT BONES"
Microblog posts attributed to newsroom staff expressed dismay at censors forcing the paper to pull an editorial from its current edition, which one source in Guangzhou close to reporters at the Southern Weekly corroborated.
Buried in the back pages, however, was a call for reform.
"The party's methods of controlling the media must move with the times," the article read, citing a Monday editorial from the Communist Party mouthpiece, the People's Daily. In its interpretation of the editorial, the Southern Weekly said the remaining necessary reforms were as difficult as "gnawing at bones".
"They need the protection and support of a moderate, rational and constructive media," it said.
The censorship turmoil has also spread to the capital. Online accounts said Dai Zigeng, the publisher of the popular Beijing News daily, announced his resignation on Wednesday after the newspaper resisted government pressure to republish an editorial criticizing the Southern Weekly.
Reporters Without Borders, an advocacy group for journalists, called on party chief Xi, set to become president in March, to put an end to censorship.
Chinese Internet users face the "Great Fire Wall" of censorship, especially over politically sensitive topics such as human rights, while foreign websites such as Facebook, Twitter and Google-owned YouTube are blocked.
"We believe that the system and actions of infringing on the media's autonomy and citizens' freedom of expression run contrary to the excellent Chinese political tradition as well as the modern spirit of rule of law," wrote a group of prominent Chinese scholars in one of several online open letters and petitions widely circulated on the Southern Weekly standoff.
While the newsroom revolts could be isolated, middle class patience with the denial of basic freedoms appears to be wearing thin.
"I don't want anyone recklessly deleting, changing, tying or binding me," wrote Han Han, one of China's most popular bloggers with some 30 million followers.
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Cricket-New Zealand (45 &) 232-5 v South Africa (347-8d) - lunch

CAPE TOWN, Jan 4 (Reuters) - New Zealand were 232 for five in their second innings at lunch on the third day of the first test against South Africa on Friday.
Scores: New Zealand 45 (V. Philander 5-7, M. Morkel 3-14) and 232-5 (D. Brownlie 109, B. McCullum 51) v South Africa 347-8 declared (A. Petersen 106, A.B. de Villiers 67, H. Amla 66, J. Kallis 60) (Reporting by Michael Todt; Editing by John O'Brien)
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Cricket-Brownlie defies Proteas with maiden test century

CAPE TOWN, Jan 4 (Reuters) - Dean Brownlie struck a six to reach his maiden test century on Friday as New Zealand reduced the deficit with South Africa to 70 with five second innings remaining at lunch on the third day of the first test.
Brownlie fell shortly before the interval for 109 after a fighting innings which helped restore some self-respect to the New Zealand team after they had been skittled for 45 before lunch on the opening day.
At the interval the visitors were 232 for five with wicketkeeper BJ Watling, who batted through the morning session, on 31.
South Africa, the world number one side, opened with Dale Steyn and Vernon Philander hoping to make early inroads and the duo applied the pressure with some disciplined bowling.
However, Brownlie and Watling, who started the day on 69 and 10 respectively, were up to the challenge and guided the Black Caps to 201 for four by the drinks break.
Brownlie brought up the 50 partnership with a drive for two off Steyn, which also moved him into the 90s. The 28-year-old wasted little time reaching his century, emphatically dispatched Peterson for two sixes in the space of two overs and raised his bat to a warm ovation.
The Proteas, who dropped Brownlie twice on Thursday when he was on 23, were still unable to break through and elected to take the second new ball with just two overs remaining before lunch.
The decision proved to be an inspired one as the stubborn resistance of Brownlie came to an end when he cut a wide Morne Morkel delivery straight to Robin Peterson on the point boundary.
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Australia rue run outs despite taking lead

SYDNEY (Reuters) - Australian blew the chance to take an iron grip on the third test against Sri Lanka on Friday and instead scrabbled to a 48-run first innings lead after reaching 342 for six at the close of the second day's play on Friday.
Phil Hughes and David Warner got the hosts off at a canter on a glorious morning with half centuries in a partnership of 130 as Australia looked to build a big total in their bid to sweep the series 3-0.
Two run outs, including one for Mike Hussey in his final test, and a couple of soft dismissals, however, left Sri Lanka bowling at Matthew Wade, who had survived a good few scares to reach 47, and Peter Siddle (16) when stumps were drawn.
Australia captain Michael Clarke also made 50 but will probably remember the day more for having given the call for the risky single that saw Hussey dismissed for 28 by Dimuth Karunaratne's direct hit.
"Today we could look back and feel we could have been in a better position, it would have been nice to have a couple of wickets less," said Hughes, who hit a stylish 87, told reporters.
"But that's the position we're in now, 40-odd run lead and we're well balanced in this game."
Sri Lanka, who made 294 in their first innings, showed considerably more fight than they had in the innings and 201 run defeat in Melbourne last week and they were only a couple of dropped catches from being right back in the match.
"A number of young players have come in and shown that they've got some guts and the desire to play at this level," coach Graham Ford Said.
"On the other hand... we might have been in a better position. Although we're still in the game, we could have been in quite a powerful position."
Hughes and Warner, who hit a pugnacious 85, had plundered runs in the opening session against a patched-up pace attack in almost perfect batting conditions.
The only wicket to fall before lunch was that of opener Ed Cowan, who gave a precursor of what was to come when he ran himself out for four.
Sri Lanka skipper Mahela Jayawardene finally introduced spinner Rangana Herath after the break and the most prolific wicket-taker in test cricket last year almost had an immediate impact with a strong lbw appeal against Warner.
It was turned down and a TV appeal showed the ball was turning too much to hit the leg stump but half an hour later the opener was heading back to the dressing room.
HUSSEY OVATION
The 26-year-old, who had reached his half century off just 37 balls, could not resist a slash at a Tillakaratne Dilshan delivery only for the ball to balloon up into the air for Dhammika Prasad to take the catch backtracking at long-on.
Hughes had shown that for all the rebuilding of his technique he could still cut the ball like few other batsmen but on 87, traditionally considered unlucky for Australian batsmen, he tried another and was caught behind off Herath.
Hussey, who will retire from international cricket after this match, received a huge ovation from the crowd as he came out to bat and was welcomed to the crease by a guard of honour from the Sri Lankan players.
It was Clarke who caught the eye, however, and he punished anything loose from the Sri Lankan bowlers, most notably when he hit a towering six and a lofted four off Herath in consecutive balls just before tea.
The captain turned villain in the fourth over after the break, however, when he called for the single that resulted in Hussey's dismissal, and put a dent in the 37-year-old's previous average of 117.75 against Sri Lanka and 100 at the SCG.
Clarke, the most prolific batsman of last year, reached his 25th half century with a single through the covers but an over later his first innings of 2013 was ended when he misfired a sweep off Herath and Karunaratne took a good catch on the run.
Wade was dropped, then survived a Sri Lanka TV appeal for a catch which was ruled out for a no ball and finally forced to resort to the TV umpire himself to overturn a decision that he had been caught out -- all while he was on 22.
Nuwan Pradeep grabbed the final wicket of the day when he had Mitchell Johnson caught behind for 13 - only a second test wicket for the Sri Lankan seamer whose average had soared above 400 during the day's play.
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Report: Israeli ex-spy chief criticizes PM on Iran

JERUSALEM (AP) — A recently retired Israeli spy chief says Prime Minister Benjamin Netanyahu acted irresponsibly regarding Iran's nuclear program and accuses him of prioritizing personal concerns over national interests.
Yuval Diskin, chief of Israel's Shin Bet intelligence agency from 2005 to 2011, has voiced similar criticisms before.
Diskin says Netanyahu tried to convince him and his colleagues to approve what he called an "illegal" decision to attack Iran. He describes attending a "bizarre" meeting with Netanyahu, Defense Minister Ehud Barak and then-foreign minister Avigdor Lieberman, in which they discussed the Iranian nuclear threat over cigars and liquor.
Diskin spoke in an interview to a filmmaker who made a documentary about Israeli spymasters. The interview appeared Friday in Israel's daily Yediot Ahronot.
Netanyahu's office in a text-messaged statement called Diskin's comments "baseless."
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Argentine court rejects intervention in media case

BUENOS AIRES, Argentina (AP) — Argentina's Supreme Court rejected a proposal by the government to use a new legal regulation to get the top court to intervene in the case of a law opposed by the country's top media group.
The Supreme Court on Thursday rejected a legal mechanism that allows the highest court to step into cases even when they're being handled by lower courts.
The court also accepted an injunction shielding Grupo Clarin from the new media law, which would force it to disinvest and partially break up the company, the state news agency Telam reported.
Grupo Clarin had appealed a ruling by a lower court judge who said that some parts of the three-year-old law against media monopolies are constitutional.
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Mexico City seeks beauty in public-space makeover

The plan is as big as this mammoth city: Turn a seedy metro hub into Mexico City's Times Square; clear swarms of feisty vendors and remodel the historic Alameda Central; illuminate the plazas and walkways of a park twice the size of New York's Central Park.
Mexico City's government is trying to transform one of the world's largest cities by beautifying public spaces, parks and monuments buried beneath a sea of honking cars, street hawkers, billboards and grime following decades of dizzying urban growth.
Despite the challenges, the ambitious, multimillion-dollar program carried out by former center-left Mayor Marcelo Ebrard and continued by his successor, Miguel Angel Mancera, is winning praise from urban planners and many residents. And it's turning the metropolis into an experiment in how to soften urban sprawl.
"It's time to tame the city," said Juan Carlos de Leo Gandara, head of the Iberoamerican University's sustainable urban projects. "Today is about giving the city back to pedestrians."
In the Alameda, made iconic in the Diego Rivera mural "Dream of a Sunday Afternoon in the Alameda," concrete sidewalks were replaced by marble, and makeshift vendor stands were kicked out — a renovation that cost about $18.7 million. Instead of a motley patchwork of folding tables and tarps, the newly opened park, anchored by the art nouveau Palacio de Bellas Artes theater, is a sea of greenery and calm in the midst of racing traffic.
"It used to be very dark, with no lighting. It really wasn't a place to bring my son," said Alma Rosa Romero, a 32-year-old housewife standing by the new dancing-water fountains, holding her child's hand. "Now it's beautiful."
Other completed projects include a once-neglected plaza with an Arc de Triumph-style monument to Mexico's 1910 revolution, which has been remade at a cost of $28.6 million from a homeless encampment to an oasis where families frolic and children run through spurts of water gushing out of the pavement. The copper dome of what started out as the country's Congress building is newly polished and gleaming.
Downtown, at the Chapel of the Immaculate Conception of Tlaxcoaque, the city has installed multi-colored fountains that light up at night and replaced a parking lot with a larger plaza for pedestrians. The city has also converted Francisco I. Madero street in the historic center into a pedestrian walkway stretching to the Zocalo, the plaza that's home to the National Palace and massive Metropolitan Cathedral. And under a popular bridge near the hip neighborhood of Condesa, the city made way for a taco joint and a playground.
"A city where people go out to the streets is safe, happier and raises the quality of life," said Daniel Escotto, chief architect of Mexico City's Public Areas Office, which was founded in 2008 to manage urban renewal. "We are renovating floors, facades and adding plants and lighting and more elements that can shape this concept."
Yet in a city defined in many ways by its disorder, the plan is also being slammed by those who take pride in surviving the urban jungle.
"Yes it's safer, and it's renovated, but what happens to the emblem of Mexico City?" said Baltazar Romeo, 47, a hospital worker eating a sandwich at the newly remodeled Alameda. Gone were the street performers who once dressed as the Three Wise Men during Christmas and charged tips for photos with children. "The city is becoming soulless," Romeo said.
One of the flagship renovation projects is the once-seedy, swarming Glorieta de Insurgentes, a roundabout and metro station in central Mexico City that sees hundreds of thousands of commuters pour through every day.
The circular plaza was sunk to let pedestrians stream below busy thoroughfares and catch their trains or buses or just hang out. Around its rim careen cars in a roundabout that briefly merges two of the city's biggest thoroughfares, the mighty Insurgentes and Chapultepec avenues.
When the plaza was built in 1969, the city's top priority was moving an onslaught of cars and people from one point to another. Highways and beltways elsewhere went up to cope with the population boom, and sprawl spread farther out. Once-famous and safe streets and plazas suffered from neglect by planners and became slum-like neighborhoods people avoided after sunset. A brown haze covered the new skyline as motorists became the focus of the new infrastructure.
The Insurgentes roundabout turned into a place to hurry through. Homeless people took over abandoned warehouses nearby while surrounding office and apartment buildings fell into disrepair. Many of the plaza's shops became sleazy Internet cafes cowering beneath giant billboards.
"It couldn't be more hostile to public life or pedestrian life," said Ken Greenberg, a Toronto-based architect and urban designer who recently visited Mexico. "The whole thing just has a kind of very harsh feeling of a highway right in the middle of the city."
Urban designers are now seeking to infuse the chaos with the glitzy excitement of Times Square or London's Piccadilly Circus. Sixty-foot cylinders covered with circular screens streaming LED tickers have already been erected. The crabgrass-filled flower beds and low benches used as skateboard launches have been bulldozed for a sleek open-air look bathed in white, patterned concrete.
The makeover is meant to create a more appealing space for commuters using bikes and public transit in a city that won infamy as the world's most painful for commuters in a 2011 IBM survey.
"What Mexico City needs is to emphasize its identity through its public spaces," Escotto said.
The government says the Insurgentes project will also debut a new model for restricting advertising to designated spots. In 2010, local government banned advertisements on all public and private buildings, threatening a $9,000 fine for those who refused to comply. Two years later, however, the city is still blanketed by billboards.
Future projects include a cleanup of 67 bridges around the city and more lighting for plazas and walkways throughout Chapultepec Park, Mexico City's grand urban green space.
Some projects, including the Insurgentes roundabout, are being completed with the help of private funds. The roundabout renovation includes $4.5 million from 15 advertising companies that are erecting the giant LED screens. Critics worry the arrangement will benefit private companies more than city residents. Much of the beautification of the historic center was paid for by telecommunications billionaire Carlos Slim.
Some wonder whether Mancera, who is from Ebrard's party, will continue the effort and whether the city has the money to maintain its improvements. The question for this teeming city is whether its attempt to clean up will hold or whether the sprawl will ultimately prove more powerful.
"How is this work going to look in the next five months, or five years?" asked De Leo Gandara of the Iberoamerican University. "Will they preserve it? Will it still be clean? Are they keeping it together or is it forgotten again?"
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Argentina's fight on defaulted debt takes new step

It's been a decade since Argentina tarnished its reputation worldwide and became an economic misfit by engaging in the biggest sovereign debt default in history, yet it is still haunted by the old bonds.
Although Argentina's government restructured nearly all of the debt defaulted in the 2001 economic crisis, President Cristina Fernandez finds herself in a bitter U.S. court fight with holdout creditors that has raised the threat of severe financial repercussions.
The next step comes Friday when Argentina files its arguments for the final stage in its legal battle with NML Capital Ltd., an investment fund that specializes in suing over unpaid sovereign debts.
Argentina recently sidestepped economic chaos from the debt showdown when the 2nd U.S. Circuit Court of Appeals suspended a lower court's order for Argentina to pay $1.3 billion into escrow for holders of its defaulted debt, an action that risked pushing the country into technical default.
U.S. District Judge Thomas Griesa based his ruling on the principle of "pari passu," or equal footing, which says debtors can't pick and choose between creditors. In other words: pay everyone or pay no one and risk going into default.
Fernandez has refused to make such a payment, and uses the term "vulture funds" when she talks about NML Capital and others who have refused two opportunities to swap defaulted bonds for new, less valuable bonds that the government has reliably paid since 2005.
Analysts and Argentine media say Fernandez's legal team may argue that Griesa's ruling would hurt the world's financial system by giving financial speculators an enormous edge over nations that need to restructure debts and protect their citizens while trying to grow their way out of economic crises.
"Ninety-three percent of bondholders accepted the restructurings so, given the international situation, it would be irrational to rule in favor of the 'vulture funds' and pay them 100 percent," said Mariano Lamothe, an analyst with the consulting firm abeceb.com. "It would break any possibility of (future) debt swaps. Nobody would issue a bond in the New York Stock Exchange."
Other analysts support the debt holdouts.
Speaking during a teleconference Thursday organized by a lobbying group funded by NML Capital, legal experts expressed skepticism that such an argument would prevail.
"Argentina's claim that the pari passu clause will cause chaos in world markets is inaccurate," said Richard Samp, chief counsel for the Washington Legal Foundation. "The 2nd Circuit specifically recognized that Argentina is a unique case, and that sovereign debtors can avoid Argentina's predicament by including non-voluntary collective action clauses in their bondholder agreements, like Greece has done in the past."
John Baker Jr., a visiting fellow at Oriel College at University of Oxford, said debt contracts would become irrelevant if Argentina's position prevails.
"The 2nd Circuit should be applauded for determining that Argentina must be bound by its contractual commitment to treat creditors equally, and Argentina's claims that holdouts do not deserve to be paid are a clear strategy meant to continue avoiding the payment of billions of dollars it owes bondholders," Baker said.
Fernandez insists she won't pay a single centavo to the holdouts and calls Griesa's ruling "judicial colonialism." But analysts say that despite the government's tough public stance, Fernandez may be looking for time to negotiate over a new debt swap and avoid a new blow to the country's financial reputation.
"In Argentina there's a huge abyss between the official discourse and public policy," said Miguel Braun, an economist for the Buenos Aires-based Pensar consulting firm. "I wouldn't be surprised if Fernandez is saying all of this in her speeches and then goes on and does something completely different."
Just the threat of the Dec. 15 payment deadline set by Griesa had severe consequences. In the week after Griesa issued his order, the cost of maintaining Argentina's overall debt soared in trading on U.S. and European bond markets and the cost of insuring those debts spiked.
Several weeks ago, her administration struck a more conciliatory tone by saying it might be willing to pay the holdouts on the same terms as investors who joined the last debt restructuring in 2010. NML Capital and other plaintiffs have not commented on whether they would be willing to accept a swap on those terms.
The amount at stake in the current litigation is $1.3 billion, but all of the old bonds held by investors who didn't accept the debt restructuring total about $11.2 billion. If the U.S. courts eventually uphold Griesa's ruling, all those investors could demand immediate payment.
Ramiro Castineira, an analyst for the consulting firm Econometrica, sees a possibility that the courts may rule in favor of the "vulture funds" but also allow a more favorable schedule of payments for Argentina.
"There's a lot of uncertainty," Castineira said. "Whatever the court rules, both sides are going to appeal and try to take it to the Supreme Court, which must decide if it takes the case or not."
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BUENOS AIRES, Argentina (AP) — A former Argentine economy minister has been sentenced to four years in prison for corruption. Felisa Miceli was forced to quit in 2007 when a bag of money holding $32,000 was found in her office toilet. The unanimous ruling said Miceli was guilty of the "aggravated cover up" on an illegal financial maneuver and obstruction of justice for getting rid of a police report on the money bag. A local court also ruled Thursday that Miceli will be barred from holding any public office position for eight years. Miceli served under President CrVP reads message from ailing Chavez to military istina Fernandez's husband and predecessor, former President Nestor Kirchner.

CARACAS, Venezuela (AP) — In a message read by his No. 2, President Hugo Chavez saluted Venezuela's military and acknowledged he was facing "complicated and difficult" times as he recovers from cancer surgery in Cuba.
The message read by Vice President Nicolas Maduro during a military event in eastern Venezuela offered no details on Chavez's condition and it was unclear when the president composed it. Chavez, 58, has not been seen or heard from since undergoing his fourth cancer-related surgery in Havana on Dec. 11.
"I have had to battle again for my health," the president said in the message. He expressed "complete faith in the commitment and loyalty that the revolutionary armed forces are showing me in this very complicated and difficult moment."
There have been no new updates on Chavez's condition since Maduro announced Monday night that he had received a phone call from the president who was up and walking.
Maduro and other government officials have tried to drill optimism into their supporters at raucous events nearly every day since. But uncertainty about Venezuela's political future has grown with no guarantee that Chavez will be back in time for his scheduled Jan. 10 inauguration for a new six-year term.
A group of opposition candidates demanded Friday that Maduro provide an official medical report on Chavez's health. Lawmaker Dinorah Figuera said the country needs "a medical report from those who are responsible for the diagnosis, evaluation and treatment of the president."
"The Venezuelan people deserve official and institutional information," Figuera told Venezuelan media.
Before leaving for Cuba, Chavez acknowledged the precariousness of his situation and designated Maduro his successor, telling supporters they should vote for the vice president if new elections are necessary.
But a legal fight is brewing over what should happen if Chavez, who was re-elected in October, cannot return in time for the inauguration before the National Assembly.
National Assembly Diosdado Cabello insisted Monday that the Venezuelan Constitution allows the president to take the oath before the Supreme Court at any time if he cannot do it before the legislature on Jan. 10.
Opposition leaders argue the constitution requires that new elections be held within 30 days if Chavez cannot take office Jan. 10. They have criticized the confusion over the inauguration as the latest example of the Chavez government's disdain for democratic rule of law and have demanded clarity on whether the president is fit to govern.
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Former Argentine economy minister sentenced

BUENOS AIRES, Argentina (AP) — A former Argentine economy minister has been sentenced to four years in prison for corruption.
Felisa Miceli was forced to quit in 2007 when a bag of money holding $32,000 was found in her office toilet.
The unanimous ruling said Miceli was guilty of the "aggravated cover up" on an illegal financial maneuver and obstruction of justice for getting rid of a police report on the money bag.
A local court also ruled Thursday that Miceli will be barred from holding any public office position for eight years.
Miceli served under President Cristina Fernandez's husband and predecessor, former President Nestor Kirchner.
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Cricket-Tsotsobe ruled out of Twenty20 series

DURBAN, Dec 21 (Reuters) - South Africa left-arm pace bowler Lonwabo Tsotsobe has been ruled out of the three-match Twenty20 series against New Zealand starting on Friday after suffering an ankle injury, Cricket South Africa said.
Lonwabo, 28 was taken for a scan on Thursday after bowling 10 balls in the nets on the eve of the first international.
His withdrawal follows the news that another pace bowler Vernon Philander in an injury doubt for the first test starting in Cape Town on Jan. 2 after injuring a hamstring in a domestic first class match.
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Tsotsobe ruled out of Twenty20 series

DURBAN (Reuters) - South Africa left-arm pace bowler Lonwabo Tsotsobe has been ruled out of the three-match Twenty20 series against New Zealand starting on Friday after suffering an ankle injury, Cricket South Africa said.
Lonwabo, 28 was taken for a scan on Thursday after bowling 10 balls in the nets on the eve of the first international.
His withdrawal follows the news that another pace bowler Vernon Philander in an injury doubt for the first test starting in Cape Town on January 2 after injuring a hamstring in a domestic first class match.
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Cricket-South Africa v New Zealand Twenty20 scoreboard

DURBAN, Dec 21 (Reuters) - Scoreboard from the first
Twenty20 International between South Africa and New Zealand at
Kingsmead Stadium on Friday.
New Zealand
R.Nicol c de Kock b Kleinveldt 3
P.Fulton c Morris b Steyn 9
B.McCullum c Steyn b Kleinveldt 6
J.Franklin c de Kock b McLaren 0
C.Munro c and b Morris 23
C.Anderson c Levi b Morris 5
N.McCullum b Peterson 1
J.Neesham b Peterson 10
D.Bracewell not out 21
R.Hira c Kleinveldt b Steyn 5
M.McClenaghan c Peterson b Kleinveldt 0
Extras (lb-1, w-2) 3
Total (all out in 18.2 overs) 86
Fall: 1-9, 2-19, 3-19, 4-27, 5-34, 6-36, 7-54, 8-60, 9-81
Bowling: McLaren 4-0-27-1, Steyn 3-0-13-2 (1w), Kleinveldt
3.2-1-18-3, Morris 3.4-0-19-2 (1w), Peterson 4-0-8-2, Du Plessis
0.2-0-0-0.
South Africa
R.Levi c Fulton b McClenaghan 0
H.Davids b Hira 20
F.du Plessis not out 38
Q.de Kock not out 28
Extras (w-1) 1
Total (for two wickets in 12.1 overs) 87
Fall: 1-0, 2-45
Bowling: McClenaghan 3-1-20-1, Bracewell 2-0-21-0 (1w), Hira
3-0-15-1, Anderson 1-0-11-0, N.McCullum 2-0-7-0, Nicol 1-0-11-0,
Neesham 0.1-0-2-0.
South Africa won by eight wickets and lead three-match
series 1-0.
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Tennis-Robson, Watson to warm up for Australian Open in Hobart

MELBOURNE, Dec 22 (Reuters) - British Olympic silver medallist Laura Robson and compatriot Heather Watson will warm up for the Australian Open at the Jan. 4-12 Hobart International, organisers said on Saturday.
The 18-year-old Robson, who won mixed doubles silver with men's singles champion Andy Murray at the London Olympics, will make her first appearance at the Tasmanian tournament headlined by former French Open champion Francesca Schiavone of Italy.
Watson, 20, who became Britain's first WTA champion in 24 years with her win at the Japan Open in October, returns for her second appearance after playing this year's tournament as a qualifier.
The Australian Open starts Jan. 14.
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Robson, Watson to warm up for Australian Open in Hobart

MELBOURNE (Reuters) - British Olympic silver medalist Laura Robson and compatriot Heather Watson will warm up for the Australian Open at the January 4-12 Hobart International, organisers said on Saturday.
The 18-year-old Robson, who won mixed doubles silver with men's singles champion Andy Murray at the London Olympics, will make her first appearance at the Tasmanian tournament headlined by former French Open champion Francesca Schiavone of Italy.
Watson, 20, who became Britain's first WTA champion in 24 years with her win at the Japan Open in October, returns for her second appearance after playing this year's tournament as a qualifier.
The Australian Open starts January 14.
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