Factbox: Chavez’s chosen successor Nicolas Maduro












CARACAS (Reuters) – President Hugo Chavez has named Vice President Nicolas Maduro as the heir of his self-styled socialist revolution should cancer force him out of office. He urged Venezuelans to vote for Maduro in the event of a snap election.


Here are some facts about Maduro:












* A former bus driver and trade unionist with Caracas public transport, the mustachioed Maduro, 50, has been foreign minister since 2006 and also was named vice president in October.


* As foreign minister, he has been a faithful ambassador of Chavez’s views, including often radical critiques of global affairs from a hard left-wing stance.


* Maduro has won plaudits from foreign diplomats for his affable, easygoing manner. “He’s the smoothest and least prickly of all the top Chavistas to deal with,” one European envoy said.


* Maduro has been increasingly close to Chavez since his first cancer diagnosis in mid-2011, often at his side in Havana and giving brief updates to Venezuelans, although without giving away too many details of his boss’s condition.


* Maduro’s trade union background appeals to Chavez’s working-class supporters and he is highly respected among the president’s inner circle. Past polls have shown that opposition leader Henrique Capriles would beat him in an election but analysts say that could change in a new electoral scenario given that Maduro would have Chavez’s blessing.


* Maduro was elected in 2000 as a deputy to the National Assembly, where his combative defense of Chavez’s policies made him one of the president’s favored protégés.


* He rose to become president of the legislature, and upon becoming foreign minister passed his previous post to his wife, Cilia Flores, a lawyer who became the first woman to serve as National Assembly president, between 2006 and 2011.


* When Chavez was sent to prison following his failed coup attempt in 1992, it was Flores who led the legal team that won his freedom two years later. She now serves as the country’s attorney general. She and Maduro are seen as a “power couple” in government circles.


* Chavez’ endorsement of Maduro has sidelined ambitions of other powerful Socialist Party figures such as Diosdado Cabello, who was widely considered a candidate for the top job in the future. Cabello, a military man with close ties to the armed forces and business, is not as well liked as Maduro among Venezuelans. He immediately pledged loyalty to both Chavez and the vice president after Chavez made his announcement.


(This story removed extraneous word from the first paragraph)


(Editing by Bill Trott)


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As “fiscal cliff” nears, market complacency sets in












NEW YORK (Reuters) – Like many on Wall Street, investor Todd Petzel cringed when U.S. Treasury Secretary Timothy Geithner said this past Wednesday that he was ready to let the economy go over the “fiscal cliff” if Republicans would not agree to higher tax rates on the rich.


“I didn’t think good things would come out of the comment,” said Petzel, the chief investment officer at Offit Capital Advisors in New York. “But nothing happened.”












The rhetoric heated up again on Friday, when Republican House Speaker John Boehner accused President Barack Obama of “slow-walking” the economy to the edge of the cliff. Again, markets brushed it off and showed very little reaction.


Investors’ collective shrug marks a stark change from how they had behaved in the two weeks after the presidential election, when nearly every utterance from a politician about the looming budget crisis caused wild swings in stock prices.


The S&P 500 index has nearly retraced the 5.3 percent slide it suffered in the first seven sessions after the November 6 vote. Some of the rebound reflects market confidence that Democrats and Republicans, despite their rhetoric, will eventually agree on at least a short-term deal to avoid the cliff – nearly $ 600 billion of tax increases and spending cuts set to take effect in January that could bring on a new recession.


It also could be that investors have peered over the cliff and realized they are looking at a gentle slope instead.


“The sentiment has definitely changed,” said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co in New York. “The market has become somewhat desensitized to headlines out of Washington because the fear of the economy hitting a wall in 2013 if we don’t get a deal done has diminished.”


While the S&P 500 was on track to end the first week of December nearly flat, performance throughout November was far more volatile, with the index lurching from a loss of more than 2 percent one week to a gain of more than 3 percent the next. The benchmark ended the month 0.3 percent higher.


“Seasoned investors know that waiting on the sidelines for clarity about fiscal negotiations is not an option,” Carmine Grigoli, chief investment strategist at Mizuho Securities, wrote this week in a note to clients.


“In our view, the worst case outcomes are likely to be avoided and the stock market should rise by 5 percent to 7 percent once the risk of fiscal Armageddon is behind us.”


SENTIMENT HAS CHANGED


Not everyone is brushing off the risks entirely. Investors could be too sanguine and the end of the year could come without a deal. The market could yet lurch downward, repeating the big sell-offs that occurred during the 2011 debt ceiling talks.


But while chief executives have complained that not knowing what future taxes will be has suppressed investment and hiring, some investors say lawmakers still have time in early 2013 to strike a deficit-reduction deal without imperiling the economy.


Michael Fredericks, lead manager of the BlackRock Multi-Asset Income Fund, said the recent malaise may simply be “a little bit of fatigue” setting in.


“This short-termism and parsing the language that comes out of the mouths of politicians is getting a little old. People are stepping back and saying: ‘How can I possibly make an investment decision based on the next press release or TV appearance by the latest senior Republican or Democrat?’”


One indicator of the market’s reduced concern is the defense sector, which will be hit hard if the spending cuts take effect. The PHLX Defense Sector Index is up 13 percent for the year, and sits just a few points from a yearly high.


The CBOE Volatility index, Wall Street‘s so-called fear gauge that tends to move inversely to the S&P 500, has slipped about 2 percent since November 1.


“Lately, we’ve just started seeing some small upticks in VIX futures. But it’s not like someone is coming into the market to buy a whole lot. It’s just nibbling here and there, which shows that there isn’t too much concern out there about the fiscal cliff,” said J.J. Kinahan, chief derivatives strategist at the brokerage TD Ameritrade in Chicago.


A survey of 62 Wall Street money managers released on December 5 showed market losses would be manageable if the U.S. goes over the fiscal cliff, even though worries still run deep.


Conducted by the Washington-based Potomac Research Group, the survey showed more than 60 percent expected the Dow Jones industrial average to fall 10 percent or more if a deal is not reached by year end. That would put the blue chip index below the 12,000 level.


Petzel called that 10 percent estimate “plausible,” adding that the market’s newfound calm about the cliff was more to do with the “numbness that comes from watching every moment of a blow-by-blow negotiation” than with a lack of concern.


The good news is that such a sharp drop likely will convince Republicans and Democrats to find common ground. That, he said, is what happened in the past few years to European policymakers, who saw markets sell off when they were slow to address an ongoing debt crisis.


“Then they realize, ‘Oh, this is a big deal, we should get it right.’ And so they would do something – not a lot – but something that the market could hang its hat on, and that would spark a rebound.”


(Reporting by Angela Moon and Steven C. Johnson; Editing by Tiffany Wu and Bill Trott)


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Peru’s capital highly vulnerable to major quake












LIMA, Peru (AP) — The earthquake all but flattened colonial Lima, the shaking so violent that people tossed to the ground couldn’t get back up. Minutes later, a 50-foot (15-meter) wall of Pacific Ocean crashed into the adjacent port of Callao, killing all but 200 of its 5,000 inhabitants. Bodies washed ashore for weeks.


Plenty of earthquakes have shaken Peru‘s capital in the 266 years since that fateful night of Oct. 28, 1746, though none with anything near the violence.












The relatively long “seismic silence” means that Lima, set astride one of the most volatile ruptures in the Earth’s crust, is increasingly at risk of being hammered by a one-two, quake-tsunami punch as calamitous as what devastated Japan last year and traumatized Santiago, Chile, and its nearby coast a year earlier, seismologists say.


Yet this city of 9 million people is sorely unprepared. Its acute vulnerability, from densely clustered, unstable housing to a dearth of first-responders, is unmatched regionally. Peru’s National Civil Defense Institute forecasts up to 50,000 dead, 686,000 injured and 200,000 homes destroyed if Lima is hit by a magnitude-8.0 quake.


“In South America, it is the most at risk,” said architect Jose Sato, director of the Center for Disaster Study and Prevention, or PREDES, a non-governmental group financed by the charity Oxfam that is working on reducing Lima’s quake vulnerability.


Lima is home to a third of Peru’s population, 70 percent of its industry, 85 percent of its financial sector, its entire central government and the bulk of international commerce.


“A quake similar to what happened in Santiago would break the country economically,” said Gabriel Prado, Lima’s top official for quake preparedness. That quake had a magnitude of 8.8.


Quakes are frequent in Peru, with about 170 felt by people annually, said Hernando Tavera, director of seismology at the country’s Geophysical Institute. A big one is due, and the chances of it striking increase daily, he said. The same collision of tectonic plates responsible for the most powerful quake ever recorded, a magnitude-9.5 quake that hit Chile in 1960, occurs just off Lima’s coast, where about 3 inches of oceanic crust slides annually beneath the continent.


A 7.5-magnitude quake in 1974 a day’s drive from Lima in the Cordillera Blanca range killed about 70,000 people as landslides buried villages. Seventy-eight people died in the capital. In 2007, a 7.9-magnitude quake struck even closer, killing 596 people in the south-central coastal city of Pisco.


A shallow, direct hit is the big danger.


More than two in five Lima residents live either in rickety structures on unstable, sandy soil and wetlands that amplify a quake’s destructive power or in hillside settlements that sprang up over a generation as people fled conflict and poverty in Peru’s interior. Thousands are built of colonial-era adobe.


Most quake-prone countries have rigorous building codes to resist seismic events. In Chile, if engineers and builders don’t adhere to them they can face prison. Not so in Peru.


“People are building with adobe just as they did in the 17th century,” said Carlos Zavala, director of Lima’s Japanese-Peruvian Center for Seismic Investigation and Disaster Mitigation.


Environmental and human-made perils compound the danger.


Situated in a coastal desert, Lima gets its water from a single river, the Rimac, which a landslide could easily block. That risk is compounded by a containment pond full of toxic heavy metals from an old mine that could rupture and contaminate the Rimac, said Agustin Gonzalez, a PREDES official advising Lima’s government.


Most of Lima’s food supply arrives via a two-lane highway that parallels the river, another potential chokepoint.


Lima’s airport and seaport, the key entry points for international aid, are also vulnerable. Both are in Callao, which seismologists expect to be scoured by a 20-foot (6-meter) tsunami if a big quake is centered offshore, the most likely scenario.


Mayor Susana Villaran’s administration is Lima’s first to organize a quake-response and disaster mitigation plan. A February 2011 law obliged Peru’s municipalities to do so. Yet Lima’s remains incipient.


“How are the injured going to be attended to? What is the ability of hospitals to respond? Of basic services? Water, energy, food reserves? I don’t think this is being addressed with enough responsibility,” said Tavera of the Geophysical Institute.


By necessity, most injured will be treated where they fall, but Peru’s police have no comprehensive first-aid training. Only Lima’s 4,000 firefighters, all volunteers, have such training, as does a 1,000-officer police emergency squadron.


But because the firefighters are volunteers, a quake’s timing could influence rescue efforts.


“If you go to a fire station at 10 in the morning there’s hardly anyone there,” said Gonzalez, who advocates a full-time professional force.


In the next two months, Lima will spend nearly $ 2 million on the three fire companies that cover downtown Lima, its first direct investment in firefighters in 25 years, Prado said. The national government is spending $ 18 million citywide for 50 new fire trucks and ambulances.


But where would the ambulances go?


A 1997 study by the Pan American Health Organization found that three of Lima’s principal public hospitals would likely collapse in a major quake, but nothing has been done to reinforce them.


And there are no free beds. One public hospital, Maria Auxiliadora, serves more than 1.2 million people in Lima’s south but has just 400 beds, and they are always full.


Contingency plans call for setting up mobile hospitals in tents in city parks. But Gonzalez said only about 10,000 injured could be treated.


Water is also a worry. The fire threat to Lima is severe — from refineries to densely-backed neighborhoods honeycombed with colonial-era wood and adobe. Lima’s firefighters often can’t get enough water pressure to douse a blaze.


“We should have places where we can store water not just to put out fires but also to distribute water to the population,” said Sato, former head of the disaster mitigation department at Peru’s National Engineering University.


The city’s lone water-and-sewer utility can barely provide water to one-tenth of Lima in the best of times.


Another big concern: Lima has no emergency operations center and the radio networks of the police, firefighters and the Health Ministry, which runs city hospitals, use different frequencies, hindering effective communication.


Nearly half of the city’s schools require a detailed evaluation to determine how to reinforce them against collapse, Sato said.


A recent media blitz, along with three nationwide quake-tsunami drills this year, helped raise consciousness. The city has spent more than $ 77 million for retention walls and concrete stairs to aid evacuation in hillside neighborhoods, Prado said, but much more is needed.


At the biggest risk, apart from tsunami-vulnerable Callao, are places like Nueva Rinconada.


A treeless moonscape in the southern hills, it is a haven for economic refugees who arrive daily from Peru’s countryside and cobble together precarious homes on lots they scored into steep hillsides with pickaxes.


Engineers who have surveyed Nueva Rinconada call its upper reaches a death trap. Most residents understand this but say they have nowhere else to go.


Water arrives in tanker trucks at $ 1 per 200 liters (52 gallons) but is unsafe to drink unless boiled. There is no sanitation; people dig their own latrines. There are no streetlamps, and visibility is erased at night as Lima’s bone-chilling fog settles into the hills.


Homes of wood, adobe and straw matting rest on piled-rock foundations that engineers say will crumble and rain down on people below in a major quake.


A recently built concrete retaining wall at the valley’s head lies a block beneath the thin-walled wood home of Hilarion Lopez, a 55-year-old janitor and community leader. It might keep his house from sliding downhill, but boulders resting on uphill slopes could shake loose and crush him and his neighbors.


“We’ve made holes and poured concrete around some of the more unstable boulders,” he says, squinting uphill in a strong late morning sun.


He’s not so worried if a quake strikes during daylight.


“But if I get caught at night? How do I see a rock?”


___


Associated Press writer Franklin Briceno contributed to this report.


___


Frank Bajak on Twitter: http://twitter.com/fbajak


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FCC chairman urges FAA to revise in-flight iPad rules












No, it doesn’t make any sense that you have to turn off your iPad or Kindle during airplane landings, and now the chairman of the Federal Communications Commission wants to see that change. In a letter to the Federal Aviation Administration, FCC chairman Julius Genachowski urged the agency to “enable greater use of tablets, e-readers, and other portable devices” on flights, The Hill reports. Genachowski went on to say that letting passengers use their devices more during flights is important because “mobile devices are increasingly interwoven in our daily lives” and that they “enable both large and small businesses to be more productive and efficient, helping drive economic growth and boost U.S. competitiveness.”


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S.Africa’s Mandela admitted to hospital for tests












JOHANNESBURG (Reuters) – Former South African president Nelson Mandela was admitted to hospital on Saturday for medical tests, although the government said there was no cause for alarm.


A statement from President Jacob Zuma‘s office gave no details of the condition of the 94-year-old anti-apartheid leader.












Former President Mandela will receive medical attention from time to time which is consistent with his age,” the statement said.


President Zuma assures all that Madiba is doing well and there is no cause for alarm,” it added, referring to Mandela by his clan name.


Mandela, who became South Africa‘s first black president after the country’s first all-race elections in 1994, was admitted to hospital in February because of abdominal pain but released the following day after a keyhole examination showed there was nothing seriously wrong with him.


He has since spent most of his time in his ancestral home in Qunu, a village in the impoverished Eastern Cape province.


His frail health prevents him from making any public appearances in South Africa, although in the last few months he has continued to receive high-profile visitors, including former U.S. President Bill Clinton.


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Obama says he’s ready to work with Republicans to avoid “fiscal cliff”












WASHINGTON (Reuters) – President Barack Obama, accused by Republican House Speaker John Boehner of pushing the country toward the “fiscal cliff,” said on Saturday he was ready to work with congressional Republicans on a comprehensive plan to cut budget deficits as long it included higher taxes on the wealthy.


Obama is battling Republican lawmakers over how to avoid the combination of sharp tax hikes and spending cuts set to kick in early next year that could plunge the economy back into recession.












In his weekly radio address, the president renewed his call for Republicans to extend middle-class tax cuts while letting tax rates go up for the wealthy. He also said he would be willing to find ways to bring down healthcare costs and make additional cuts to government social safety-net programs.


“We can and should do more than just extend middle-class tax cuts,” he said. “I stand ready to work with Republicans on a plan that spurs economic growth, creates jobs and reduces our deficit – a plan that gives both sides some of what they want.”


Republicans have balked at tax rate increases, which they say would hurt small businesses and brake economic growth.


With three weeks left to avert the fiscal crunch, Boehner said on Friday the administration had adopted a “my way or the highway” approach and was engaging in reckless talk about going over the “fiscal cliff.


But Obama said his re-election last month and Democratic gains in both houses of Congress showed decisive support for his approach.


“After all, this was a central question in the election,” he said. “A clear majority of Americans – Democrats, Republicans and Independents – agreed with a balanced approach that asks something from everyone, but a little more from those who can


Boehner and the House leadership submitted their terms for a deal to the White House on Monday, after Obama offered his opening proposal last week.


The plans from both sides would cut deficits by more than $ 4 trillion over the next 10 years but differ on how to get there. Republicans want more drastic spending cuts in “entitlement programs” like the Medicare healthcare program for the elderly, while Obama wants to raise more revenue with tax increases and to boost some spending to spur the sluggish economy.


(Editing by Peter Cooney)


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Firm says first BlackBerry 10 phone to debut in March, QWERTY phone won’t launch until June












Research In Motion (RIMM) is gearing up for a series of make-or-break releases that could be considered the most important device launches in the company’s history. Everything is riding on the success of the RIM’s BlackBerry 10 platform, which will be unveiled in its finished state on January 30th next year. RIM CEO Thorsten Heins is on record confirming that BlackBerry 10 will launch in the first quarter and company COO Kristian Tear previously stated new BlackBerry devices will be available “not too long after” the platform is unveiled late next month, but exact timing is still a mystery. According to Boston-based brokerage firm Detwiler Fenton, however, RIM’s first two BlackBerry 10 handsets won’t launch until March and June, respectively.


“RIM’s stock has been on a tear recently thanks to a number of upgrades and optimism surrounding its upcoming BB10 platform,” Detwiler analysts wrote in a note to clients picked up by Forbes. “However, as we dig a little deeper, there appears to be a few issues that could set up for some disappointing numbers in the 2013 first half.”












The firm goes on state that AT&T (T) and T-Mobile will launch the first BlackBerry 10 smartphone some time in March, while Verizon Wireless (VZ) and Sprint (S) are targeting May launches. Detwiler also states that the second BlackBerry 10 smartphone, which will feature a touchscreen and a full QWERTY keyboard, might not launch until June.


“Therefore, it is possible RIMM’s February quarter may only see a very small number of BB10 sales with the May quarter also coming in light due to limited QWERTY keyboard shipments and limited shipments to Sprint and Verizon,” the firm continued. “It’s our opinion RIM will ship approximately 400,000 BB10 units in the February quarter and 2.2 million to 2.5 million units in the May quarter. While this is clearly a North American / developed market view, we think this is the right way to look at the 2013 first half because the initial BB10 handsets are higher end and not targeted for emerging markets.”


When asked to comment on the Detwiler note, RIM spokesman Nick Manning reiterated the company’s earlier position. ”Details of the commercial availability for BlackBerry 10 will be announced at the global launch events on January 30,” Manning said in a comment provided to BGR via email. “Our executives have made it clear that the touch screen device will be available shortly after launch with the physical keyboard version to follow shortly after that.”


BGR’s own sources were not able to provide details regarding the exact timing of RIM’s upcoming launches, however we are hearing from reliable sources that RIM’s QWERTY-equipped BlackBerry 10 smartphone will launch well ahead of the June timeframe mentioned by Detwiler.


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Aspirin may help older colon cancer patients live longer












NEW YORK (Reuters Health) – Older adults with colon cancer who were prescribed a daily aspirin were less likely to die than those who weren’t, according to a new study.


While the results need to be confirmed with more rigorous studies, they add to the evidence linking aspirin use to longer survival for cancer patients. Studies have also suggested the inexpensive drug can prevent some types of the disease from occurring in the first place.












Medical guidelines currently endorse the use of low-dose aspirin to prevent heart disease, but not to fight or prevent cancer.


The new study, published in the Journal of the American Geriatrics Society, included more than 500 colon-cancer patients in the Netherlands aged 70 and older. More than 100 were prescribed daily low-dose “baby” aspirin for heart protection after their cancer diagnosis.


Between 1998 and 2007, the death rate for those prescribed aspirin was about half that of the non-aspirin users. The effect was biggest in people with more advanced cancer and in those who received no chemotherapy.


Anything that might improve survival in elderly adults with colon cancer would be welcome, since there is no consensus on whether to use chemotherapy in those patients, according to the study.


Previous studies have also associated aspirin use with increased survival. Research published in October in the New England Journal of Medicine suggested that aspirin therapy could extend survival for colon cancer patients whose tumors had a specific genetic mutation.


Still, more scientifically rigorous randomized controlled trials will be needed to confirm the findings of studies that are based on observation after the fact, and therefore less definitive about what actually causes the effect seen.


“We’re pretty sure this is a real effect, but we’re not sure of the magnitude,” said Dr. Gerrit Jan Liefers of Leiden University Medical Center in the Netherlands, an author of the new study. He said he didn’t expect randomized trials would show such a large survival advantage. Liefers is working to develop such a trial in the Netherlands.


One limitation of the study is that it looked at aspirin prescriptions, not actual use of the drug. (Low-dose aspirin for heart-disease protection isn’t available over the counter in the Netherlands.) It’s possible that heart benefits from aspirin might have helped the patients live longer, but the study authors said that alone couldn’t account for the big difference in death rates. Also, there might be differences between the groups unaccounted for by researchers that led to the improved survival among the aspirin users.


Liefers said it’s not completely clear how aspirin might combat colon cancer. One likely route: blocking the enzyme cyclooxygenase-2, or COX-2, which is involved in inflammation and is expressed in about 70 percent of colon tumors.


Boris Pasche, director of the hematology and oncology division at the University of Alabama at Birmingham, said it would be helpful to figure out who would benefit from and who could skip daily aspirin.


“It’s a fairly benign drug, but it has side effects,” including bleeding in the gastrointestinal tract and the brain, Pasche said.


He said patients should discuss with their physicians whether it makes sense to take aspirin at this point. “This supports the concept, but we need a prospective randomized trial,” he said.


SOURCE: http://bit.ly/TFEnSF Journal of the American Geriatrics Society, online November 23, 2012.


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Rent a Satellite and Do Science in Space












The size of a typical satellite ranges from small car to truck. The cost ranges from $ 500 million to $ 2 billion. And the weight goes from 1,000 pounds on up to a couple of tons. So these are pretty big devices, and they tend to hang around in space for 10 to 20 years.


When Peter Platzer, a high-energy physicist, looks up at the sky and thinks about these devices, his mind drifts back to the 1960s and the era of mainframe computers. He sees large, expensive machines that perform a limited set of functions for a limited set of customers. But he believes that the technology now exists to change this equation and make a smaller satellite that people can tweak to handle all kinds of tasks.












To back up his vision, Platzer last year started NanoSatisfi. It’s a tiny company operating for the moment out of a warehouse in San Francisco—part of the Lemnos Lab collective—that’s putting together a nano satellite people can rent. The satellite that NanoSatisfi intends to shoot into space is shaped like a cube and weighs a few pounds at the most. It’s packed full of dozens of sensors, including cameras, a Geiger counter, a spectrometer, and a magnetometer, all of which talk to open-source Arduino computer controllers that can be remotely programmed from Earth.


Platzer expects students, hobbyists, and researchers to rush at the chance to create experiments that can run on NanoSatisfi satellites. His team has written software that lets people test their applications on a practice satellite and then upload their programs to the real thing. The company plans to rent time on its satellites for about $ 250 per week and can have multiple people using the device at the same time. “Each satellite can support about 4,000 customers over a five-month period,” Platzer says.


Through a company called NanoRacks, NanoSatisfi has bought space for a pair of satellites that will go up next year on rockets that are resupplying the International Space Station. All told, NanoSatisfi expects to spend well under $ 1 million to build its satellites, get them in space, and operate them for two years, at which point the satellites will drift back toward Earth and burn up in the atmosphere.


The NanoSatisfi work is getting under way at a time when the U.S.’s aging satellite system, used for things like monitoring the weather, has come in for criticism. “I think small satellites could be a true alternative here,”  Platzer says.


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Ghana election, test of democratic reputation












ACCRA, Ghana (AP) — Voters in Ghana were selecting their next president and a 275-seat parliament in elections Friday, solidifying the West African nation‘s reputation as a beacon of democracy in the region.


Some 14 million people are expected to turn out. President John Dramani Mahama, in office for only five months, is running against seven contenders. A former vice president, Mahama became president in July after the unexpected death of former President John Atta Mills. The 54-year-old is also a former minister and parliamentarian and has written an acclaimed biography, “My First Coup d’Etat.”












His main challenger is Nana Akufo-Addo, a former foreign minister and the son of one of Ghana’s previous presidents. The contender lost the 2008 election to Mills by less than 1 percent. Both men are trying to make the case that they will use the nation’s newfound oil wealth to help the poor.


Ghana, a nation of 25 million, is one of the few established democracies in the region as well as the fastest-growing economy. But a deep divide still exists between those benefiting from the country’s oil, cocoa and mineral wealth and those left behind financially.


In an interview on the eve of the vote, Akufo-Addo told The Associated Press that the first thing he will do if elected is begin working on providing free high school education for all. “It’s a matter of great concern to me,” he said, adding that he plans to use the nation’s oil wealth to educate the population, industrialize the economy and create better jobs for Ghanaians.


Policy-oriented and intellectual, Akufo-Addo is favored by the young and urbanized voters. He was educated in England and comes from a privileged family. The ruling party has depicted him as elitist, which Akufo-Addo calls “a little PR construct.”


“The idea that merely because you are born into privilege that automatically means you are against the welfare of the ordinary people, that’s nonsense,” he said.


Ghana had one of the fastest growing economies in the world in 2011. Allegations of corruption against the ruling party are rife.


Akufo-Addo said that if elected, he would not be able to weed out corruption in the government overnight.


“It’s a long fight,” he said. “But we build the institutions that can fight it.”


He said that in 30 years in politics he has never been accused of corruption.


Many analysts believe Mahama and Akufo-Addo are neck-and-neck.


Results are expected to be announced by Sunday, but could be delayed. If no one wins an absolute majority, a second round of voting will be held on December 28.


All candidates have signed a peace pact and have promised to accept the results of Friday’s poll.


Ghana, a nation of 25 million, has previously held five transparent elections in a row. Nearby Mali, which was also considered a model democracy, was plunged into chaos this March following a military coup.


__


Associated Press writer Francis Kokutse contributed to this report from Accra, Ghana.


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