SGX's Q2 net profit rises 17% to S$76m

SINGAPORE : Rising interest in derivatives trading helped lift earnings for the Singapore Exchange (SGX) last quarter.

Asia's second-largest bourse operator reported a 17 per cent on-year rise in second-quarter net profit to S$76 million.

It also attracted a large number of new bond listings in the same quarter.

Derivatives trading has been the star performer in SGX.

Over the October to December quarter, derivatives daily average volume on SGX hit a record of 358,532 contracts, up 30 per cent on-year.

This was supported by rising trading interests in China A50 futures and Japan Nikkei 225 options.

Not to be undone, the securities market performed well too.

Its daily average volume rose 8 per cent for the quarter to hit a trading value of S$1.2 billion.

This translates to a revenue of S$58 million for the securities business segment.

SGX said the better performance was due to improvements in investor sentiment following stability over the Europe debt situation and improved US economy.

Magnus Bocker, chief executive officer of Singapore Exchange, said: "We should remember the enormous amount of liquidity in the market. Not so much in the equity market, but actually more in the fixed income and currency markets, and with chasing yields and lot of very successful and growing companies, I think we can all expect this sentiment to continue. I think we can expect more flows into securities."

Some analysts are bullish on SGX's prospects going forward.

The said the improved investment climate globally may benefit the exchange operator.

Ken Ang, investment analyst at Phillip Securities Research, said: "SGX is very well placed to benefit from this increasing attractiveness of the equity market and therefore resulting in increase in trading value."

SGX attracted eight new listings in its second quarter - raising S$798.9 million.

While the number seems small, it came amid declines in the global initial public offering (IPO) market.

In 2012, global IPO volumes fell 27 per cent, with the lowest level of funds raised since 2009.

Kenneth Ng, head of Singapore research at CIMB Research, said: "I think while that (derivative) is great and that diversified the revenue of SGX, SGX still has a rather pertinent problem of trying to increase the security turnover velocity and value by retail initiatives, attracting listings and so forth."

Apart from seeking more IPOs, SGX also attracted some 90 new bond listings, raising S$39.7 billion for the quarter.

- CNA/ms

Read More..

Vegas officer kills wife, son and himself

When a SWAT team arrived at the lieutenant's home, they found him waiting outside with what was believed to be a gun.

STORY HIGHLIGHTS

• The officer called 911 to say he had killed his wife and son


• His home was burning when the SWAT team arrived


• After the fire was put out officers found three bodies in the home


• Survey: Last year, 126 police officer killed themselves

(CNN) -- Even for stone-faced, seen-it-all-before officers, the act that took place at a police lieutenant's Las Vegas-area home Monday was deeply distressing.

The 52-year-old lawman, police said, killed his wife and child, called 911 to say he was burning his house down and warned he would take the life of anyone who tried to stop him.

Then he waited.

When a SWAT team arrived at the lieutenant's Boulder City home, they found him outside with what looked like a handgun.

Officers asked him to drop the weapon -- commands the lieutenant must have screamed many times before in his 20-year career. He ignored them and ducked back into the blazing home.

It was then, police believe, that he killed himself.

Once firefighters put out the blaze that tore through the home, they found his body, his 46-year-old wife's, and their elementary-school-aged son's.

CNN is withholding their names because the coroner's office has not finished notifying family members.

The lieutenant worked for the Las Vegas Metropolitan Police Department, where he supervised patrol officers, CNN affiliate KVVU reported.

The station had interviewed him before about other crimes.

The wife worked for some time as a Las Vegas police officer, the Las Vegas Review-Journal said.

She won a community service award and a lifesaving award before leaving the department in 2005.

"Anyone involved with law enforcement for any amount of time is usually prepared for any scenario, but nobody can prepare for something like this," Las Vegas Metro Sheriff Doug Gillespie told reporters.

Last year, 126 police officers killed themselves, according to the National Study of Police Suicides by the nonprofit The Badge of Life.

It's a steep drop from the other two years the survey was conducted: 143 in 2009 and 141 in 2008.

Yet, it's cause for concern.

"In spite of this encouraging news, the fact is that police suicides continue at a rate much higher than the number of police officers killed by felons," the group said.

Folks who knew the lieutenant in Monday's incident were also trying to make sense of it. The soul-searching was agonizing for some.

Retired Las Vegas lieutenant Randy Sutton told KVVU he had worked alongside the lieutenant for years.

"There's no rhyme or reason," Sutton said, saying the lieutenant was hard-working and seemed well-adjusted.

This is "the most unconscionable, dishonorable thing to do I can ever imagine," he added.

"The memories I have of him, they mean nothing to me anymore."

Read more about this story from CNN affiliate KVVU.

Read More..

Group Finds More Fake Ingredients in Popular Foods

It's what we expect as shoppers—what's in the food will be displayed on the label.

But a new scientific examination by the non-profit food fraud detectives the U.S. Pharmacopeial Convention (USP), discovered rising numbers of fake ingredients in products from olive oil to spices to fruit juice.

"Food products are not always what they purport to be," Markus Lipp, senior director for Food Standards for the independent lab in Maryland, told ABC News.

In a new database to be released Wednesday, and obtained exclusively by ABC News today, USP warns consumers, the FDA and manufacturers that the amount of food fraud they found is up by 60 percent this year.

USP, a scientific nonprofit that according to their website "sets standards for the identity, strength, quality, and purity of medicines, food ingredients, and dietary supplements manufactured, distributed and consumed worldwide" first released the Food Fraud Database in April 2012.

The organization examined more than 1,300 published studies and media reports from 1980-2010. The update to the database includes nearly 800 new records, nearly all published in 2011 and 2012.

Among the most popular targets for unscrupulous food suppliers? Pomegranate juice, which is often diluted with grape or pear juice.

"Pomegranate juice is a high-value ingredient and a high-priced ingredient, and adulteration appears to be widespread," Lipp said. "It can be adulterated with other food juices…additional sugar, or just water and sugar."

Woman's Legs and Fingers Amputated After Dog Bite Watch Video

Hope Grows for Girl With Rare Rapid-Aging Disease Progeria Watch Video

Lipp added that there have also been reports of completely "synthetic pomegranate juice" that didn't contain any traces of the real juice.

USP tells ABC News that liquids and ground foods in general are the easiest to tamper with:

• Olive oil: often diluted with cheaper oils


• Lemon juice: cheapened with water and sugar


• Tea: diluted with fillers like lawn grass or fern leaves


• Spices: like paprika or saffron adulterated with dangerous food colorings that mimic the colors

Milk, honey, coffee and syrup are also listed by the USP as being highly adulterated products.

Also high on the list: seafood. The number one fake being escolar, an oily fish that can cause stomach problems, being mislabeled as white tuna or albacore, frequently found on sushi menus.

National Consumers League did its own testing on lemon juice just this past year and found four different products labeled 100 percent lemon juice were far from pure.

"One had 10 percent lemon juice, it said it had 100 percent, another had 15 percent lemon juice, another...had 25 percent, and the last one had 35 percent lemon juice," Sally Greenberg, Executive Director for the National Consumers League said. "And they were all labeled 100 percent lemon juice."

Greenberg explains there are indications to help consumers pick the faux from the food.

"In a bottle of olive oil if there's a dark bottle, does it have the date that it was harvested?" she said. While other products, such as honey or lemon juice, are more difficult to discern, if the price is "too good to be true" it probably is.

"$5.50, that's pretty cheap for extra virgin olive oil," Greenberg said. "And something that should raise some eyebrows for consumers."

Many of the products USP found to be adulterated are those that would be more expensive or research intensive in its production.
"Pomegranate juice is expensive because there is little juice in a pomegranate," Lipp said.

Read More..

Mali war turns musicians into military

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

<<

<

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

>

>>

STORY HIGHLIGHTS

• Until recently, Mali was better known for its music, mosques and manuscripts than for conflict


• Andy Morgan: Music and culture are Mali's shop-window to the world, its primary asset


• Conflict turns musicians, artists and writers into frontline soldiers, says Morgan


• Morgan: In Mali they're still singing, still writing, still fighting

Editor's note: Andy Morgan recently ended a seven-year stint as manager of Touareg rockers Tinariwen, leaving the music industry after 29 years to concentrate on writing. He has contributed features and reviews to The Independent, fRoots, Songlines, NME and Rolling Stone, and is currently working on books about the Sahara and West Africa.

(CNN) -- It's safe to assume that most people outside West Africa had never even heard of Mali until a few weeks ago. If they had, there's a good chance it was thanks to some beautifully flowing song or instrumental by one of the country's many world-renowned musicians: Salif Keita, Tinariwen, Oumou Sangare, Toumani Diabate, Rokia Traore... the list is long.

If it wasn't music then it might have been Mali's priceless medieval manuscripts that drew their attention, or its majestic mud-built mosques, its filmmakers, poets, photographers and writers.

Like Jamaica or Ireland, Mali's music and culture are its primary asset, its shop-window to the world, its "gold and cotton" as one famous musician put it.

Andy Morgan is a world music journalist and former manager of Touareg band Tinariwen.

Certainly, very few people would have included the words "Mali" and "Islamism" in the same sentence before April last year, when Islamist militia took control of over two thirds of the country and started amputating the hands of thieves, stoning adulterers and whipping women who happened to venture out into the streets 'improperly' dressed.

With the arrival of French forces and the mass hostage seizure at the Algerian oil facility of In Amenas, Mali and Islamism are two words that now appear not only to be inextricably linked but on the front page.

Six reasons why Mali matters

Of course, the association goes back much further than April 2012.

Al Qaeda and the Islamic Maghreb (AQIM) moved south from Algeria and into Mali's remote northern deserts over a decade ago. It proceeded to amass a fortune from kidnapping, smuggling and money laundering whilst undermining the local economy, disrupting social relations and destroying the local tourist industry.

It brought along a hardcore form of Islam inspired by Wahabism and a hatred of the West that was previously almost unheard of in Mali, a country which has long contented itself with gentler and more tolerant brands of Sufism richly tinted by local pre-Islamic beliefs.

AQIM also managed to hijack a rebellion against the central government in Bamako by the nomadic Touareg people of the north that had been grinding on and off for the best part of fifty years.

This conflict, which first erupted in 1963, was always about power, influence and the self-determination of a marginalized people. It was also about preserving the Touareg's unique Berber culture. It had never been about imposing hard line Islam on anyone. But from round 2006 onwards, Touareg nationalism and Islamic terrorism became inextricably confused with each other.

Why Africa backs French in Mali

Indeed, there's a widespread theory, confirmed by the word of just a few bit-players in the drama but lacking any more conclusive evidence, that certain parties who were utterly averse to the idea of an independent Touareg state -- the Malian government, Algeria and others -- either deliberately implanted AQIM in the region, or at the very least tolerated its presence there.

It was hoped that the strategy would attract military aid and doom the Touareg nationalist project to failure. The theory might seem strange given the damage that terrorism has wrought in both Mali and Algeria but most Touareg I know accept it as gospel. We'll probably never know the whole truth.

What's certain is that the Sahara is one of the hardest places on earth for an outsider to understand. Its interlocking cogs of power and influence -- geopolitical, regional, governmental, tribal, mineral, criminal, spiritual, clan and family -- are fiendishly complex.

No foreign intervention can hope to achieve any long-term benefits if it cannot get to grips with the underlying political and social mechanism of this vast region.

2011 brought the Arab Spring and the end of Muammar Gadhafi, who had long been a stabilizing force in the Sahel, and both a promoter and a hinderer of Touareg nationalist ambitious. His weapons arsenals were opened up to armed groups of every stripe and in January 2012, the Touareg used this opportunity to reignite their rebellion in northern Mali. But it was al Qaeda in the Islamic Maghreb who eventually took control, either directly or through a network of alliances.

Now Mali's hopes lie with the French, who intervened on Friday January 11, after months of diplomatic wrangling at the U.N. and elsewhere.

France 'not a pacifist nation'

So the world has a new front on the global war on terror and France has a new battle to fight in Africa.

Within northern Mali itself, however, and throughout the Muslim world, this is not seen as a war on terror but as a cultural conflict, one that pits a group of people who feel that the future of their society will be best served by rejecting Western liberal values and returning to the core tenets of Islam against another group who believe in religious tolerance, secularism, democracy and music.

This conflict turns musicians, artists and writers into frontline soldiers.

Saudi Arabia destroyed its mausoleums and silenced its musicians decades, even centuries, ago. In the Algerian civil war of the 1990s, many musicians, writers and cultural figures were killed, prompting others to flee overseas.

In Mali they're still singing, still writing, still fighting, for the time being at least.

In this new battleground in the cultural wars of the Muslim world, a distant mirror of the religious wars that shook Europe in the 15th and 16th centuries, Malian musicians are taking a stand. That's why music matters. That's why Mali matters.

The opinions expressed in this commentary are solely those of Andy Morgan.

Read More..

No more measures for Greece if reforms carried out: Lagarde

ATHENS: No additional measures would be necessary for Greece if it carries out the reforms under its bailout programme, IMF chief Christine Lagarde said in an interview with the Sunday edition of Kathimerini.

"But if the structural reforms are not carried out... then more cuts would be necessary," the head of the International Monetary Fund told the Greek newspaper.

Entering a sixth year straight of recession, the heavily indebted country is relying on EU-IMF bailout packages.

It also received a private-sector debt cut early last year. Since 2010, the EU and IMF have committed 240 billion euros ($320 billion) in rescue loans to Greece, while last week the IMF unblocked a frozen tranche of 3.2 billion euros from its pending aid package.

"Greece holds its future in its own hands... It is up to the country itself to succeed in its programme," Lagarde said.

The IMF chief said she had a very good working relationship with both the Greek prime minister and finance minister.

Prime Minister Antonis Samaras and I "have a very good and honest relationship," she said, adding that the premier has even "surprised" her with his stance following his election.

Lagarde also said she believed the co-existence of three different parties in Greece's coalition government is beneficial.

"Regarding the implementation of the programme and the responsibilities towards the people, a wide coalition is much more important than a tight majority," she said.

Conservative Prime Minister Antonis Samaras's coalition government has lost 16 deputies since coming to power in June, as a result of opposition to continued austerity.

It now counts a majority of 163 seats out of an overall 300.

On Friday, the IMF's mission chief for Greece Poul Thomsen said the country will still need additional help from its European partners next year.

- AFP/fa

Read More..

Stan 'The Man' Musial dies

Photo portrait of Stan Musial in the 1960s.

STORY HIGHLIGHTS

• Musial played 22 years in the Major League, all with the St. Louis Cardinals


• He retired in 1963 as, statistically, one of the best hitters in baseball history


• He died Saturday evening of natural causes, his grandson says


• Baseball commissioner, players, fans recall Musial as a great athlete and man

(CNN) -- He was simply "The Man."

Stanley Frank Musial made a name for himself as one of baseball's best hitters of all time on the field, as well as one of its greatest, most dignified ambassadors off it.

And now "Stan the Man" is gone. Musial died at his Ladue, Missouri, home surrounded by family, the Cardinals said in a statement. According to a post on his Twitter page, which is maintained by his grandson Brian Musial Schwarze, Musial died at 5:45 p.m. (6:45 p.m. ET) Saturday of natural causes.

He was 92.

"We have lost the most beloved member of the Cardinals family," said William DeWitt Jr., the club's chairman. "Stan Musial was the greatest player in Cardinals history and one of the best players in the history of baseball."

The Pennsylvania-born Musial transitioned from a lackluster pitcher to a stellar slugging outfielder, according to his biography on the National Baseball Hall of Fame's website.

The left-hander had a batting average above .300 17 times during his 22-year career -- all played with St. Louis -- and earned three National League Most Valuable Player awards as well as three World Series titles. The only blip came in 1945, in the thick of World War II, when he left baseball to join the U.S. Navy.

Stan Musial waves to fans during the 2012 National League Championship Series.

After the 1963 season, Musial retired with a .331 career batting average and as the National League's career leader in RBI, games played, runs scored, hits and doubles. He has since been surpassed in some of those categories, but he still ranks fourth in baseball history in total hits, behind only Pete Rose, Ty Cobb and Hank Aaron.

Hall of Fame manager Earl Weaver dead

He also stood out for his grace and sportsmanship -- having never been ejected once by an umpire. In his retirement ceremony, then-Major League Commissioner Ford Frick referred to Musial as "baseball's perfect warrior, baseball's perfect knight."

In 1969, Musial was elected on his first try into the Hall of Fame, calling it "the greatest honor of the many that have been bestowed upon me."

During and after his playing career, Musial developed a special relationship with the St. Louis fan base, who knew him simply as "Stan the Man."

A bronze statue of him stands outside Busch Stadium, which is located in Musial Plaza along Stan Musial Drive.

He continued with the organization for more than 25 years after his playing days ended, serving as vice president and general manager.

And Musial was active in the community, contributing to causes such as the USO, the Senior Olympics, the Boy Scouts and Covenant House.

People we lost in 2013

HIDE CAPTION

"I have no hesitation to say that St. Louis is a great place in which to live and work," he said in his Hall of Fame induction speech. "We love St. Louis."

His fans returned the favor, revering him for his play as well as his character and commitment to the area.

"Cardinal Nation will never be the same. Rest in peace Stan 'The Man' Musial, the best Cardinal there ever was," wrote one woman, by the name of Elise, on Twitter.

Musial also stood tall outside eastern Missouri. He served between 1964 and 1967 as chairman of the President's Council on Physical Fitness and Sports.

In 2011, President Barack Obama bestowed upon him the Presidential Medal of Freedom, the nation's highest civilian honor.

"Stan matched his hustle with humility," Obama said then. "Stan remains, to this day, an icon, untarnished; a beloved pillar of the community; a gentleman you'd want your kids to emulate."

Lillian, Musial's wife of 71 years, died last May -- a longlasting marriage that some people, online, called as admirable as anything that happened on the diamond.

Stan Musial's passing spurred an outpouring of condolences and praise. Commissioner Bud Selig described him as "a Hall of Famer in every sense" and "a true gentleman," former pitcher Curt Schilling called his life "a clinic in respect, integrity and honor," and current Cardinal Matt Holliday said it was "an honor to the same uniform."

The messages from fans were no less heartfelt.

Wrote Jason Lukehart, on Twitter: "In a week that's shown the dangers deifying athletes, Stan Musial's death reminds me that once in a great while, there's a man worthy of it."

Read More..

Leading the way: Presidential leadership

(CBS News) LEADING THE WAY is what we expect of our presidents. How successful any individual president has actually BEEN is a matter of debate historically, as is the entire question of what constitutes great leadership in the first place. Our Sunday Morning Cover Story is reported now by Barry Petersen:

We laugh with them, we cry with them . . . and with Hollywood's help from movies like "The American President," we heap on them our greatest expectations.

As Michael J. Fox's character said in that film, the public is "so thirsty for it they will crawl through the desert toward a mirage, and when they discover there is no water, they'll drink the sand."

Presidential leadership is Colorado College professor Thomas Cronin's specialty, and he is struck by America's perhaps too-perfect wish list for a president.

"It seems like an amalgam of wanting Mother Teresa, Mandela, Rambo, the Terminator and Spider-Man all wrapped into one," he said. "It's a pretty outlandish job description."

David McCullough has written extensively on our greatest presidents, among them, John Adams.

Adams wrote to his wife, Abigail, on his first night as president staying in what was then called the president's house, and some lines from that letter were carved into the mantelpiece of the State Dining Room of the White House, at the wish of Franklin Roosevelt: "May none but honest and wise men ever rule under this roof."

"I love that because you noticed he puts honest first, ahead of wise," said McCullough.

Why? "Because honesty is essential."

To McCullough, the great presidents shared a common set of qualities. "They had courage, and they had integrity, and they had patience, and they had determination."

Determination, like Teddy Roosevelt, who knew the Panama Canal would be good for American commerce and defense, helping American ships move from one ocean to the other -- and he got Americans to follow his vision.

"Unprecedented for us to do anything like that beyond our own borders [at] tremendous cost and a tremendous risk," said McCullough. "But He then participated in decisions, not just at the White House but by going to Panama to see things himself. First time a president left the country while in office."

And the best lead not only with actions, but with words.

One speech, like FDR's "We have nothing to fear, but fear itself," or Ronald Reagan's "Mr. Gorbachev, tear down this wall") could change history, said McCullough. "All superb speakers who delivered moving speeches. Speeches that lift us to want to attain higher achievement than we might believe we are capable of."

Like JFK's "Ask not what your country can do for you, but what you can do for your country."

"That's leadership," McCullough said.

John Kennedy's words launched David Gergen's career working for four presidents.

"I do believe that President Obama has to be the unifier-in-chief," he said.

Read More..

Obama to Be Sworn in for 2nd Term at White House

Jan 20, 2013 8:43am

While an estimated 800,000 people are expected to gather in Washington D.C.  Monday to watch President Obama be sworn in for a second term, his second term officially begins Sunday. He will take his oath of office in a private ceremony. Vice President Joe Biden was sworn in on Sunday morning at the Naval Observatory.

OBAMA SWEARING-IN:

Chief Justice John G. Roberts Jr. administers the oath of office a second time to President Barack Obama in the Map Room of the White House on Jan. 21, 2009. (Pete Souz / WH Photo / Getty Images)

–Obama will take the oath of office for a second term in a small ceremony in the Blue Room of the White House at 11:55 am. Chief Justice John Roberts will administer the oath.

–Obama will be sworn in using a Bible today that belonged to First Lady Michelle Obama’s grandmother, LaVaughn Delores Robinson. The Robinson family Bible was a present from the first lady’s father to his mother on Mother’s Day in 1958, six years before Michelle’s birth.

–Due to constitutionally-mandated scheduling, President Obama is set to become the second president in U.S. history to have four swearing-in ceremonies. Today will be his third. Obama was sworn in twice in 2008 out of an abundance of caution after Chief Justice John Roberts flubbed the oath of office.

Here is video of Obama’s first swearing in by Roberts:

And Here is audio of Roberts administering the oath for a second time in 2009:

–Franklin Roosevelt was also sworn-in four times but, unlike Obama, he was elected four times.

–This year will mark the seventh time a president has taken the oath on a Sunday and then again on Monday for ceremonial purposes. Reagan last took the oath on a Sunday in 1985.

PHOTOS: U.S. Presidents Taking the Oath of Office

BIDEN SWEARING-IN:

Carolyn Kaster/AP Photo

–Vice President Biden was sworn-in at the Vice President’s residence at the Naval Observatory, surrounded by his family and close friends.

–Biden personally selected Associate Justice Sotomayor, who will be the first Hispanic and fourth female judge to administer an oath of office.

–Three women have previously sworn-in presidents and vice presidents: Judge Sarah T. Hughes swore-in President Johnson in 1963; Justice Sandra Day O’Connor swore-in Vice President Dan Quayle in 1989; and Justice Ruth Bader Ginsburg swore-in Vice President Al Gore in 1997.

–On Sunday and Monday, Vice President Biden will be sworn in using the Biden Family Bible, which is five inches thick, has a Celtic cross on the cover and has been in the Biden family since 1893. He used it every time he was sworn in as a US Senator and when he was sworn in as Vice President in 2009. His son Beau used it when he was sworn in as Delaware’s attorney general.

Tune in to the ABC News.com Live page on Monday morning starting at 9:30 a.m. EST for all-day live streaming video coverage of Inauguration 2013: Barack Obama. Live coverage will also be available on the ABC News iPad App and mobile devices.

SHOWS: This Week World News

Read More..

Why Africa backs French in Mali

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

French-led Mali offensive

<<

<

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

>

>>

STORY HIGHLIGHTS

• French intervention in Mali could be turning point in relationship with Africa, writes Lansana Gberie


• France's meddling to bolster puppet regimes in the past has outraged Africans, he argues


• He says few in Africa would label the French action in Mali as 'neo-colonial mission creep'


• Lansana: 'Africa's weakness has been exposed by the might of a foreign power'

Editor's note: Dr. Lansana Gberie is a specialist on African peace and security issues. He is the author of "A Dirty War in West Africa: The RUF and the Destruction of Sierra Leone." He is from Sierra Leone and lives in New York.

(CNN) -- Operation Serval, France's swift military intervention to roll back advances made by Jihadist elements who had hijacked a separatist movement in northern Mali, could be a turning point in the ex-colonialist's relationship with Africa.

It is not, after all, every day that you hear a senior official of the African Union (AU) refer to a former European colonial power in Africa as "a brotherly nation," as Ambroise Niyonsaba, the African Union's special representative in Ivory Coast, described France on 14 January, while hailing the European nation's military strikes in Mali.

France's persistent meddling to bolster puppet regimes or unseat inconvenient ones was often the cause of much outrage among African leaders and intellectuals. But by robustly taking on the Islamist forces that for many months now have imposed a regime of terror in northern Mali, France is doing exactly what African governments would like to have done.

Lansana Gberie

This is because the Movement for Unity and Jihad in West Africa (MUJAO), Ansar Dine and al Qaeda in the Islamic Maghreb (AQIM) are a far greater threat to many African states than they ever would be to France or Europe.

See also: What's behind Mali instability?

Moreover, the main underlying issues that led to this situation -- the separatist rebellion by Mali's Tuareg, under the banner of the National Movement for the Liberation of Azawad (MNLA), who seized the northern half of the country and declared it independent of Mali shortly after a most ill-timed military coup on 22 March 2012 -- is anathema to the African Union and the Economic Community of West African States (ECOWAS).

Successful separatism by an ethnic minority, it is believed, would only encourage the emergence of more separatist movements in a continent where many of the countries were cobbled together from disparate groups by Europeans not so long ago.

But the foreign Islamists who had been allies to the Tuaregs at the start of their rebellion had effectively sidelined the MNLA by July last year, and have since been exercising tomcatting powers over the peasants in the area, to whom the puritanical brand of Islam being promoted by the Islamists is alien.

ECOWAS, which is dominated by Nigeria -- formerly France's chief hegemonic foe in West Africa -- in August last year submitted a note verbale with a "strategic concept" to the U.N. Security Council, detailing plans for an intervention force to defeat the Islamists in Mali and reunify the country.

ECOWAS wanted the U.N. to bankroll the operation, which would include the deployment a 3,245-strong force -- to which Nigeria (694), Togo (581), Niger (541) and Senegal (350) would be the biggest contributors -- at a cost of $410 million a year. The note stated that the objective of the Islamists in northern Mali was to "create a safe haven" in that country from which to coordinate "continental terrorist networks, including AQIM, MUJAO, Boko Haram [in Nigeria] and Al-Shabaab [in Somalia]."

Despite compelling evidence of the threat the Islamists pose to international peace and security, the U.N. has not been able to agree on funding what essentially would be a military offensive. U.N. Security Council resolution 2085, passed on 20 December last year, only agreed to a voluntary contribution and the setting up of a trust fund, and requested the secretary-general "develop and refine options within 30 days" in this regard. The deadline should be 20 January.

See also: Six reasons events in Mali matter

It is partly because of this U.N. inaction that few in Africa would label the French action in Mali as another neo-colonial mission creep.

If the Islamists had been allowed to capture the very strategic town of Sevaré, as they seemed intent on doing, they would have captured the only airstrip in Mali (apart from the airport in Bamako) capable of handling heavy cargo planes, and they would have been poised to attack the more populated south of the country.

Africa's weakness has, once again, been exposed by the might of a foreign power.
Lansana Gberie

Those Africans who would be critical of the French are probably stunned to embarrassment: Africa's weakness has, once again, been exposed by the might of a foreign power.

Watch video: French troops welcomed in Mali

Africans, however, can perhaps take consolation in the fact that the current situation in Mali was partially created by the NATO action in Libya in 2010, which France spearheaded. A large number of the well-armed Islamists and Tuareg separatists had fought in the forces of former Libyan leader Moammar Gadhafi, and then left to join the MNLA in northern Mali after Gadhafi fell.

They brought with them advanced weapons, including shoulder-launched anti-aircraft missiles from Libya; and two new Jihadist terrorist groups active in northern Mali right now, Ansar Dine and MUJAO, were formed out of these forces.

Many African states had an ambivalent attitude towards Gadhafi, but few rejoiced when he was ousted and killed in the most squalid condition.

A number of African countries, Nigeria included, have started to deploy troops in Mali alongside the French, and ECOWAS has stated the objective as the complete liberation of the north from the Islamists.

The Islamists are clearly not a pushover; though they number between 2,000 and 3,000 they are battle-hardened and fanatically driven, and will likely hold on for some time to come.

The question now is: what happens after, as is almost certain, France begins to wind down its forces, leaving the African troops in Mali?

Nigeria, which almost single-handedly funded previous ECOWAS interventions (in Liberia and Sierra Leone in the 1990s, costing billions of dollars and hundreds of Nigerian troops), has been reluctant to fund such expensive missions since it became democratic.

See also: Nigerians waiting for 'African Spring'

Its civilian regimes have to be more accountable to their citizens than the military regimes of the 1990s, and Nigeria has pressing domestic challenges. Foreign military intervention is no longer popular in the country, though the links between the northern Mali Islamists and the destructive Boko Haram could be used as a strategic justification for intervention in Mali.

The funding issue, however, will become more and more urgent in the coming weeks and months, and the U.N. must find a sustainable solution beyond a call for voluntary contributions by member states.

The opinions expressed in this commentary are solely those of Lansana Gberie.

Read More..

SNCF to launch grant framework for social entrepreneurs

SINGAPORE: To facilitate the growth of co-operatives, the Singapore National Co-operative Federation (SNCF) will launch a comprehensive grant framework that gives budding social entrepreneurs the support they need to set up new co-operatives to deal with social needs that have yet to be met.

Existing co-operatives will also be able to use the grant to improve productivity, expand their services, and for staff development.

This was announced by SNCF Chairman Chan Tee Seng at an awards ceremony on Saturday to recognise 22 co-operatives, co-operators and supporters for their contributions toward improving the welfare of Singaporeans.

The awards commend those who have helped grow the Singapore Co-operative Movement, which includes areas such as thrift and loan, aged care, childcare, employment, and insurance.

Minister in the Prime Minister's Office Lim Swee Say and former Singapore President SR Nathan were also among those recognised as co-op champions for the support they have rendered to the co-operative movement.

Mr Lim praised the role of co-operatives here, calling them both competent and competitive.

"Here at home, our co-operatives and social enterprises are doing your best as active citizens. It's in your DNA to do good -- passion to help others to live a better life. It's in your DNA to do well -- competent and competitive, to be financially viable. How can we help others, if we're not able to help ourselves? Most of all, it's in your DNA to do more, and to do more together," he said.

Mr Lim urged individual co-operatives here to work as a network, and in partnership with other like-minded enterprises so as to meet the ever-increasing needs of the community.

As a way to encourage co-operatives to come together, the SNCF also plans to facilitate and co-pay a shared services platform that will allow these co-operatives to collaborate and develop shared services in the areas of IT, marketing, book-keeping and accounting.

-CNA/ac

Read More..