IBSA Trade Ministers meets at WEF Davos- Declaration released

Ministers Anand Sharma of India, Antonio Patriota of Brazil and Rob Davies of South Africa, had a meeting of the IBSA (India-Brazil-South Africa) Trade Ministers forum on the sidelines of the 42nd meeting of the World Economic Forum, on January 27, 2012 in Davos, to review the current global financial and economic situation. They recalled the fifth Summit of the Heads of State and Government of the IBSA Dialogue Forum that took place in Pretoria in October 2011 which underscored the importance attached by the three countries to coordination on global issues. IBSA Ministers came out with a declaration after the meeting. The declaration is depicted below:

The Ministers expressed concern at the weak and unsteady economic situation in many countries and regions, which poses a serious challenge for the economic policy and growth prospects of developing and low income countries. In this context, they emphasized that greater policy coordination is needed to ensure strong, sustainable and balanced growth of the global economy. They recognized that Brazil, India and South Africa are doing their part to promote growth while maintaining economic stability and successfully fostering social development. They reaffirmed their commitment to continue their efforts in this direction.

The Ministers underlined the importance of resisting protectionist tendencies in the current global economic scenario, including competitive devaluation and regulatory measures that conceal their real protectionist ends. They underscored the importance that developing countries use WTO consistent measures to achieve their legitimate objectives of growth, development and stability. They also noted that distortions caused by high levels of protection in the form of tariffs and subsidies in agriculture in developed countries continue to undermine the development prospects of developing countries, especially the least developed among them.

The Ministers expressed deep disappointment at the current impasse in the Doha Development Agenda (DDA) negotiations. They reiterated the need to conclude the Doha Round as soon as possible, building on the significant progress already achieved and on the careful balance of concessions negotiated since the launching of the Round in 2001. The IBSA Ministers reaffirmed their commitment to continue working on the Doha Development Agenda, especially with a view to facilitate more immediate outcomes that deliver on the development dimension of the mandate agreed upon in Doha in 2001. These early outcomes would be building blocks towards meeting the common objective of concluding the Single Undertaking. The Ministers emphasized that “plurilateral initiatives” go against the fundamental principles of transparency, inclusiveness, and multilateralism. These initiatives weaken the resolve of WTO Members to overcome the substantive gaps that exist among them and also fail to address the development deficit inherited from previous negotiating Rounds.

The Ministers also underscored their faith in South-South cooperation, which is a partnership among equals that must be guided by respect for equality, national sovereignty and ownership. Recognizing that South-South cooperation helps developing countries to confront common challenges, the Ministers stressed the importance of such initiatives being implemented through the IBSA Trust Fund.

Sting Operation by “India TV”
Press Note

Commission’s attention has been drawn to a sting “Operation MLA” that was telecast in India TV on 26.01.2012 in which it was alleged that some of the candidates belonging to various political parties are procuring bribe from the corporates, allegedly for the purpose of their election expenditure in the forthcoming Uttar Pradesh Assembly elections. It was also telecast that such persons aspiring to be candidates from various political parties have admitted that their election expenditure will be between one to three crore rupees which includes expense in the name of dummy candidates, liquor for the electors and other expenses. The Commission has taken serious note of the contents of this sting operation and called for the transcript. After considering the transcript, the Commission has taken the following decisions and measures:

1. Any attempt to obtain or procure gratification for exercising any electoral right, including right to stand or not to stand at election, is offence of bribery under IPC. Therefore, the DEOs have been asked to file complaint against the persons who were seen to be involved in such acts for the offence. (If convicted by the court, it may result in imprisonment up to one year or fine, including disqualification for continuing as MLA, if elected, and also from contesting any election in future).

2. The Commission has reiterated its appeal to all the political parties, whose functionaries are named in the sting operation, to inquire into the matter and advise all their functionaries to refrain from such activities in the current elections.

3. The Commission has reiterated its stand that such bribery under the IPC should be made a cognizable offence. The Commission has once again approached the government to pass an ordinance to make suitable changes in the law, as the matter is quite serious.

4. Besides the above, the Commission has given strict instructions to all election officials in Uttar Pradesh that any such attempt to bribe any elector during election process should be dealt with firmly. The entire liquor production, sale and distribution shall be monitored everyday and any illicit liquor shall be seized. Movement of unaccounted cash in the constituency is to be monitored and seized. If any person raises funds in cash as mentioned in the sting operation, the Income Tax department has been alerted to deal with such donors firmly and investigate about the source of such bribe money.

PM fast tracks move on private sector investment in Inland Waterway Transport

The Prime Minister has initiated a move to fast track the development and use of Inland Waterways Transport involving the private sector and Public Sector Undertakings. The initiative will harness huge potential of inland waterways in transporting bulk cargo like coal, food grains, fertilizers, project cargo, fly ash, Over Dimensional Cargo and containers at competitive cost for the public and private sector companies. Adequate use of waterways will also ease the burden on rail and road infrastructure.

At a meeting of the inter-ministerial coordination committee Principal Secretary to the Prime Minister informed that a tripartite agreement signed between the National Thermal Power Corporation, Inland Waterways Authority of India and a private developer has led to competitive transportation rates for the NTPC while private sector investment of about Rs 650 crore has been committed. This agreement relates to the Farakka Power Project.

The following decisions were also agreed upon in the meeting:

NTPC will provide long term cargo commitment for 3 million metric tons of coal for Barh power project once all its five units are operational by 2016-17.

The execution of Coal handling facility at Jogighopa and rail connectivity will be taken up under the Non Lapsable Central Pool of Resources (NLCPR) scheme.

Food Corporation of India will expeditiously provide long term cargo commitment for 3 years for transportation of foodgrains to Tripura and Assam from Kolkata and within Assam.

MEA will try to extend the period of Trade and Transit Protocol beyond March 2012 when it comes for renewal to provide longer certainty to vessel operators. Further, efforts shall be made for early completion of Ashuganj multi-modal port by Bangladesh and its regular use as a transit port.

Ministry of Shipping will consider providing additional money, if need be, to ensure night navigation facilities on Indo-Bangladesh Protocol route.

ONGC and Oil India will convey a firm commitment of cargo through IWT in two weeks to IWAI.

CONCOR will provide firm commitment for transportation of part of their container cargo from Pandu through IWT.

The progress on these decisions will be reviewed in two months time by the Principal Secretary to PM.

Security Tracking Systems For Today That Keep Up With The World Of Tomorrow
Metuchen, NJ, January 27, 2012 – Security in this country is a huge issue; on a national level, and for corporations, prisons and individuals alike. This is where Berkeley Varitronics Systems comes in – a leading provider of advanced wireless solutions and security products to the domestic and international wireless telecommunications industry. CEO Scott Schober is a sought-after security expert who made a presentation at the inaugural Concordia Summit in New York City recently to top level political decision-makers from around the world that included Mikheil Saakashvili – President of Georgia, former Polish President Aleksander Kwasniewski, former President George W. Bush, and Thomas Kean, former Governor of New Jersey.
Schober’s security team was part of the 9/11 first-responders who attempted to locate people buried under the rubble by locating their cell phones. BVS products can be used to detect anything - from people illegally crossing our borders, bomb threats, detecting smuggled cell phones in prisons, to protecting board room secrets of corporate America.
Berkeley Varitronics Wolfhound-Pro cell phone detector has been featured on Fox News. It is a precision, handheld, wireless sniffer specifically tuned to the RF signature of common cell phones for both U.S. and European bands and its high speed scanning receiver allows security personnel to locate nearby cell phones in either standby mode or during active voice, text or data transmissions. Instead of illegal and unsafe cellular jamming signals, this detector prevents wireless usage by detecting and even locating the perpetrator.
This product is vital in prisons where keeping cell phones out is becoming a major problem across the country, but especially in California where state prisoners are being bumped into local jails. Prisoners having access to cell phones is always a serious safety concern, but more so with gang members who use them to contact outside members, intimidate witnesses, or conduct criminal activity from inside prison walls. Cell phones can also be used to relay information on transportation of inmates, by giving date, time and route.
Berkeley Varitronics Systems are featured at all major security events. They were recently a featured company at the 4G World Conference in Chicago, where attendees were offered an opportunity to meet their guest spokesperson, Los Angeles Lakers star Andrew Goudelock.  They also recently made a presentation at the Chiefs of Police Conference in Kansas where they demonstrated the latest in cell phone detection devices.
Located in Metuchen, NJ, Berkeley Varitronics Systems has been providing advanced wireless solutions and products to the domestic and international wireless telecommunications industry for over 38 years.

ANUPAM KHER'S BOOK CREATES A SALES RECORD IN INDIA

Mumbai: 350 copies of Anupam Kher’s ‘The Best Thing About You Is You’ were sent to Jaipur for the Lit Festival. Reports say that the bookshop at the festival grounds sold the entire lot and book orders had to be placed in large numbers. ‘The Best Thing About You Is You’, thus becomes the highest selling title at the Jaipur Literature Festival. A recently conducted AC Neilsen survey reports that the book in its first week was on number 250. In the second week it was number 34 and now in the third week, it is number 18. Success of the book has been talked about on Facebook, Twitter as well as by Penguin Publication. Next week onwards, contests and other schemes for readers and book buyers will be part of the promotion for the book.

‘The Best Thing About You Is You’ has examples from the actor’s own life and experiences. He subtly motivates and inspires you by providing a handy guide to discovering your real self and finding peace of mind and contentment in today’s chaotic times. He feels that the best way to counter the negativity that exists in the world these days, where people are gripped by fear, insecurity, stress, frustration and unhappiness is by acquiring a positive outlook. Citing his own example, he reveals how a humble background need not be an obstacle to attaining the dizzying heights of success, but simultaneously, sounds a warning about the importance of gracefully handling such success. He shares the vital ingredients in his recipe for success as well as no-nonsense methods to get the most out of your life. This volume contains the author’s views on a wide variety of topics such as the anger syndrome, the phenomenon of change, thought control, dealing with relationships, conquering stress, getting rid of fears, coming to terms with failure, realizing the power within oneself, coping with loss and death and much more. Here’s a book you will find yourself turning to for soothing, insightful guidance and practical advice no matter what situation you’re in. You’ll come to realize that the best thing about you is YOU!

Use Tax Season to Organize for the Future
Financial Planner Shares Tips for a 21st-Century Filing System

Jane was not looking forward to going through her parents’ belongings to get their house ready to sell. Their health had been failing for some time and they finally agreed to move to a retirement community. Now that they were both comfortably moved into their new apartment, it was up to Jane to get rid of the things they no longer needed.
Her parents had lived in the same house for more than 50 years, so Jane expected to find things that should have been tossed out years ago. But she was amazed to discover 50 years of tax returns and bank statements carefully stored in boxes in the attic. Her parents had saved all their financial records!
Many people are confused about what records they need to keep and for how long. They hold onto tax returns, bank records, brokerage statements and other financial information simply because they don’t know if they’ll need it again. Like Jane’s parents, the documents get packed in boxes that eventually take over valuable living or storage space.
Financial planner Rick Rodgers, author of The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning (www.TheNewThreeLeggedStool.com), says tax time is a great time to get organized.
“Most people are going through their records to get ready to file their return,” he says. “This is the time to get smart about what you need to keep and then set up a system to store it efficiently going forward.”
Rodgers suggests these five steps to help you effectively organize your finances for 2012 and beyond:

1. Out with the old – Discard the records you no longer need: Tax returns older than seven years; bank records and credit card statements that are not related to the tax returns you’re keeping; brokerage statements that aren’t related to purchases of current holdings. Be sure to shred all your old documents before throwing them out.


2. Go digital – Convert the documents you plan to save into digital images that are stored on your hard drive. Invest in a good scanner and scan as you go through your paperwork, shredding and tossing the hard copies as you go. On your computer, file by tax year, so your 2011 folder will contain your tax return for 2011 and all pertinent bank records and receipts. Organize the previous six years the same way. Next year you can delete the oldest folder when you add the 2012 folder.


3. Save a forest – All of the financial institutions you deal with would prefer to send your statements electronically. Stop receiving paper statements. Instead, download your statements electronically and store them in your new filing system. Most banks and credit card companies keep at least a year’s worth of statements available. You need to download these files only once a year to complete the year’s file.


4. Save backups in case of emergency – Make backup copies of your files on a CD. Choose a CD-R (recordable) as opposed to a CD-RW (rewriteable), because CD-R cannot accidentally be overwritten. Depending on your computer operating system, you may be able to continue adding data to a CD-R each year, until the CD is full. However, some operating systems won’t allow that, so you’ll need a new CD for each year.


5. Go paperless – Your new electronic filing system can be expanded to include all your financial records, from car maintenance receipts to pay stubs. Wills and insurance policies can also be scanned and stored but, of course, keep the originals of those in a safe deposit box or fireproof safe.

Gone are the days of saving your financial documents in box and shoving it into the attic. Technology advances have made organizing your personal finances easier with minimal cost. Make 2012 the year you get organized by moving your finances into a 21st century filing system.

About Rick Rodgers

Certified Financial Planner Rick Rodgers is president of Rodgers & Associates, “The Retirement Specialists,” in Lancaster, Pa. He’s a Certified Retirement Counselor and member of the National Association of Personal Financial Advisers. Rodgers has been featured on national radio and TV shows, including “FOX Business News” and “The 700 Club,” and is available to speak at conferences and corporate events (www.rodgersspeaks.com).

BEAM INCREASES DIVIDEND 8%

Company Boosts Indicated Annual Rate to $0.82 from $0.76, Declares Regular Dividend

Deerfield, Illinois, January 27, 2012 - Beam Inc. (NYSE: BEAM), a leading global premium spirits company, today announced that its board of directors approved an 8% increase in the dividend on the company's common stock. The dividend will increase 6 cents per share to an annual rate of $0.82 (payable 20.5 cents per quarter) from $0.76 per share (19 cents per quarter). The company also declared the next quarterly dividend of 20.5 cents per share, which will be payable on March 1, 2012 to shareholders of record at the close of business February 8, 2012.

"Beam retained the entire Fortune Brands dividend, and we're pleased to boost our payout and create immediate value for shareholders so soon after becoming a pure-play spirits company," said Matt Shattock, president and chief executive officer of Beam. "This dividend increase reflects several inherent strengths in Beam, including our cash flow generation and balance sheet, our excellent prospects for profitable long-term growth, and our strong stewardship of capital focused on maximizing long-term shareholder value."

The company also declared a regular dividend of 66.75 cents per share on the $2.67 Convertible Preferred Stock, payable in cash on March 10, 2012 to shareholders of record at the close of business February 8, 2012.

About Beam Inc.

As one of the world's leading premium spirits companies, Beam is Crafting the Spirits that Stir the World. Consumers from all corners of the globe call for the company's brands, including Jim Beam Bourbon, Maker's Mark Bourbon, Sauza Tequila, Canadian Club Whisky, Courvoisier Cognac, Teacher's Scotch Whisky, Kilbeggan Irish Whiskey, Laphroaig Scotch Whisky, Cruzan Rum, Hornitos Tequila, Knob Creek Bourbon, EFFEN Vodka, Pucker Flavored Vodka, Larios Gin, Whisky DYC, DeKuyper Cordials, and Skinnygirl Cocktails. The Beam portfolio includes 10 of the world's top 100 premium spirits brands and some of the industry's fastest growing innovations. Beam is focused on delivering superior performance with its unique combination of scale with agility and a strategy of Creating Famous Brands, Building Winning Markets and Fueling Our Growth. Beam and its 3,200 passionate associates worldwide generated 2010 sales of $2.7 billion on volume of 33 million 9-liter cases.

Headquartered in Deerfield, Illinois, Beam is traded on the New York Stock Exchange under the ticker symbol BEAM and is included in the S&P 500 Index and the MSCI World Index.