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  • Brazil Central Bank Raises Interest Rate to 11%

    Brazil Central Bank Raises Interest Rate to 11%

    {{Brazil’s central bank on Wednesday raised its benchmark Selic interest rate to 11 percent from 10.75 percent, prolonging its cycle of tightening after a surge in food prices that has stoked already high inflation in an election year.}}

    The decision by the central bank’s monetary policy committee to raise the key rate by 25 basis points to its highest level in over two years was unanimous. All of the 62 analysts surveyed by Reuters predicted the hike.

    The following are analysts’ comments:

    EDUARDO VELHO, CHIEF ECONOMIST, INVX GLOBAL PARTNERS

    “There are uncertainties over the intensity of (the effects of) monetary tightening on inflation. By removing the word ‘continuing’ from the statement, the Copom increases the likelihood of the Selic remaining stable. But in any case, the next step is uncertain.

    The central bank is in a tight spot. It’s difficult for the Copom to stop raising rates while the impacts of monetary tightening, of the recent strengthening of the real and the deterioration of growth aren’t reducing the current inflation level. For the Copom to endorse a stable Selic in May, you would have to see inflation surprise to the downside.”

    JOSE FRANCISCO DE LIMA GONCALVES, CHIEF ECONOMIST, BANCO

    FATOR

    “There was a lot of change for such a brief, terse message. There will probably be another rate increase in the next meeting, if there are no surprises, but the continuation of the cycle beyond that is unlikely. There are too many caveats.”

    ALESSANDRO DEL DRAGO, CHIEF ECONOMIST, MAUÁ SEKULAR

    “The big surprise is the statement … By including the phrase ‘at this moment,’ the central bank is signaling that it may stop what it has been doing.

    “The central bank is indicating it is leaning toward ending the (rate-hiking) cycle at the next meeting.

    “Inflation expectations should not react positively to the decision.”

    FLAVIO SERRANO, ECONOMIST, ESPIRITO SANTO INVESTMENT BANK

    “It was a bit surprising due to the change in the statement. It looks like the central bank is setting up the option to end its monetary policy tightening, but I think it depends very much on the short-term outlook. If inflation were falling more quickly, this would have perhaps been the last move. If the situation stays bad, it could carry out another 25-basis-point increase, but it won’t be more than that.”

    MAURICIO MOLAN, CHIEF BRAZIL ECONOMIST, SANTANDER

    “The central bank is not committing itself to the continuation of the tightening cycle. If data permits, it is inclined to stop the cycle at some point over the next meetings.

    “Upcoming inflation data will probably show a very dangerous outlook, however. This will make the central bank raise interest rates again at its next meeting by 25 basis points.”

    GUSTAVO MENDONCA, ECONOMIST, SAGA CAPITAL

    “It was more dovish than the market was expecting, the fact that it changed the statement. Removing the ‘continuing the adjustment’ phrase and adding that it will ‘monitor’ are two signals that the bank wants to stop here. For the bank to continue hiking at the next meeting – which would be 25 basis points – inflation will have to worsen significantly.”

    ROBERT WOOD, BRAZIL ANALYST, ECONOMIST INTELLIGENCE UNIT

    “The wording has changed and the central has gone into data-watching mode, which signals that the tightening cycle has either ended or is nearing its end.”

    reuters

  • US Soldier Kills 3, Injures 16 at Fort Hood

    US Soldier Kills 3, Injures 16 at Fort Hood

    {{A U.S. soldier with mental health issues shot dead three people and injured at least 16 on Wednesday before shooting himself at an army base in Fort Hood, Texas, the site of another deadly rampage in 2009, U.S. military officials said.}}

    The soldier, who was being treated for depression and anxiety, went to two buildings on the base and opened fire before he was confronted by military police, Fort Hood commanding officer Lieutenant General Mark Milley said.

    The gunman, whose motive remains unknown, then shot himself in the head with a .45-caliber pistol, he said.

    “At this time there is no indication that this incident is related to terrorism,” Milley told a news conference.

    The rampage is the third shooting at a military base in the United States in about six months that, along with a series of shootings in public places, such as schools and malls, has sparked a national debate over gun control regulations.

    Security officials said preliminary information identified the gunman as Ivan Lopez but Milley declined to identify the shooter, who is married, until his family was notified.

  • Remarks by Hon. Louise Mushikiwabo at International Conference on Prevention of Genocide

    Remarks by Hon. Louise Mushikiwabo at International Conference on Prevention of Genocide

    {International Conference on Prevention of Genocide, Brussels

    01 April 2014

    Remarks by Hon. Louise Mushikiwabo, Minister of Foreign Affairs and Cooperation for Rwanda}

    Acknowledgements:
    {{
    H.E. Mr. Ban Ki-moon, United Nations Secretary General

    H.E. Ms. Nkosazana Dlamini-Zuma, Chair of the Commission of the African Union.

    Mr. Didier Reynders, Deputy Prime Minister and Minister of Foreign Affairs of Belgium

    H.E. Mr. Thorbjorn Jagland, Secretary General, The Council of Europe}}

    Distinguished guests, ladies and gentlemen.

    A week from today, my country, Rwanda, will pause to commemorate twenty years since the Genocide against the Tutsi. People of good conscience the world over will join us in solemn remembrance. We are very grateful.

    The commemoration period is first and foremost a time to honour the memory of the million souls who perished, as well as offer support and comfort to survivors.

    We gather in this place, however, to meet another obligation arising from the events of 1994.

    As leaders in public policy and international diplomacy, the 20th commemoration of the Genocide is a compelling opportunity to examine the progress we have made, or failed to make, with respect to the prevention of, and response to, mass atrocities.

    For that reason, I am heartened by the participation in today’s discussion of such esteemed speakers.

    It reflects, I believe, a sincere desire on the part of governments and international institutions to avoid repeating the mistakes of 1994.

    To turn “Never Again” from rallying cry to reality.

    To learn from Rwanda’s experience, we must resist efforts to recast history for political or ideological ends.

    It is a sad truth that every genocide attracts a small but vocal cohort of people who will seek to deny, negate or diminish the circumstances of the tragedy.

    In the social media age, these individuals are able to create a disproportionate amount of noise and create confusion and doubt — even among people of good will.

    This is true of the Holocaust; it is true of Bosnia; it is true of Rwanda.

    We must therefore remain vigilant in defense of the truth because to do otherwise would dishonour the memory of those who perished and utterly fail our obligation to those who survived.

    Importantly, too, it would relieve the world of its duty to reckon squarely with the lessons of history.

    Ladies and gentlemen:

    Please allow me to touch briefly on the international response to the Genocide Against the Tutsi — and suggest what lessons can be drawn from that experience.

    It is sometimes erroneously suggested that the world was blindsided by fast moving events in April 1994 and was therefore unable to act or act in time.

    This argument rests on the fallacy that the genocide was a spontaneous eruption of violence that no-one could have seen coming. Nothing could be further from the truth.

    The genocide was neither spontaneous nor entirely unexpected. It was the outcome of a deliberate state-orchestrated campaign over decades, to dehumanise Rwanda’s minority Tutsi population.

    Several massacres had already taken place, beginning in 1959. British philosopher Bertrand Russell described one such bloodbath in 1964 as “the most horrible and systematic human massacre we have had occasion to witness since the extermination of the Jews by the Nazis.”

    In the early nineties, anti-Tutsi propaganda reached fever pitch, with hate radio and newspapers openly preaching extermination.

    By 1993, the US State Department had specific information that extremists were preparing for genocide.

    The United Nations was also warned, famously in a January 1994 fax from Canadian Major-General Romeo Dallaire, commander of the Rwanda peacekeeping mission then.

    And surely many World Embassies present in Kigali had access to vital intelligence, some had special friendship with, and power over the genocidal regime and the Rwandan military’s chief sponsor.

    Despite prior knowledge, the international community’s reaction to the growing crisis in Rwanda was worse than simply ‘do nothing’. They consciously turned their backs.

    Days after the killings started, embassies were shut, expatriates flown to safety and peacekeepers withdrawn, targeted Rwandans left alone.

    Surveying the escalating carnage, all the UN Security Council could do was debate for eight hours on April 29, whether or not it was appropriate to apply the word “genocide”.

    I do not recount these events as a way to inspire guilt or pity, but as a prelude to this question:

    If the world faced a comparable crisis today, have the lessons of Rwanda better equipped us to act?

    It seems to me that the answer is by no means clear. That’s where our individual and collective obligation calls.

    Yes, the adoption of the Responsibility to Protect doctrine was a positive step, and Rwanda forcefully advocates for its implementation from our seat on the UN Security Council, with the caution that every situation has its own context and merit.

    But we have also repeatedly encountered reluctance on the part of the major powers to meaningfully enact R2P principles.

    In practical terms, protecting civilians is easily and often trumped by the geopolitical interests of the major powers. Look no further than Syria as an example.

    Of course, intervention to protect civilians from violence should be seen as a last-ditch strategy. It should only occur when all appropriate preventive measures have failed — and these include diplomacy, dialogue, mediation and reconciliation.

    We must also consider and perhaps priviledge the root causes of conflict, including poor governance, political exclusion, corruption and extreme poverty. State failure, discrimination and economic deprivation are common precursors to mass violence so it makes strategic sense to help build capacity in societies facing such conditions.

    As Rwanda has discovered over our twenty year journey, peace and prosperity are mutually reinforcing — to achieve one, you need the other. We have learned that reconciliation is as difficult as it necessary, sometimes a lifetime endeavor.

    Preventing genocide is a multi-faceted and daunting challenge. But we cannot afford to succumb to cynicism or despair because the alternative to preventing genocide is burying the bodies in its aftermath.

    That’s why this conference — and this session — are so timely and important, and why I am so grateful for the opportunity to take part.

    Thank you.

  • Reserve Forces renovate Houses of Genocide Survivors

    Reserve Forces renovate Houses of Genocide Survivors

    {{The Minister of Defense James Kabarebe together with Local Government Minister James Musoni handed over 101renovated Houses to Genocide Survivors in Muhanga and Kamonyi Districts, Southern Province.}}

    The renovation work was done by the Reserve Forces in collaboration with the two Districts.

    Officials say using Reserve Forces in such activities costs less in comparison to contracting Construction companies.

    By illustration 66 renovated houses, Annexes and two newly constructed houses in Muhanga cost about Frw182 million contrary to Frw300 Million that should have been paid to a contracted company.

    The Minister of Defense said that Rwanda Defense and Reserve Forces will never cease to work hard for sustainable development, especially for poor people.

    He reminded that forces that ended the Genocide will continue to shape the better future of Genocide survivors.

    Meanwhile, Local Government Minister James Musoni thanked the Defense Ministry for the work and calls upon Unity among Rwandans while at the same time fighting for the dignity.

  • Africa is Open for Business not For Sale

    Africa is Open for Business not For Sale

    {{President Paul Kagame began the first day of the 4th EU-Africa summit began with a special meeting on the Central African Republic chaired by President Abdel Aziz of Mauritania,President Van Rompuy and President Hollande of France.}}

    The summit attended by over 90 delegations from across Africa and Europe discussed issues of peace and security, prosperity and the future of EU-Africa partnerships.

    Speaking at the opening ceremony, Nkosazana Dlamini Zuma, Chairperson of the African Union Commission, called for partnerships that will serve all equally:

    “We must ensure that we strengthen our partnership based on understanding of each other’s challenges and aspirations.”

    With Europe’s ageing population and shortage of land, Nkosazana Dlamini Zuma pointed to Africa’s land and growing youth population as key areas for mutually beneficial cooperation.Africa’s youth population is set to double in the coming years while Europe’s retired population is set to do the same in the next decade.

    With Africa currently home to 8 of the 10 fastest growing economies while Europe still recovers from global economic crisis, the meeting emphasized that “Africa is open for business but is not for sale.”

    The two day summit was preceded by business forum attended by leaders in business from both continents. During this forum GlaxoSmithKline announced its plans to build five new factories in Africa including in Rwanda.

    GlaxoSmithKline aims to manufacture more products in Africa, build capacity, enhance self-sufficiency and support sustainable health systems.

    The previous EU-Africa summits took place in Cairo in 2000, in Lisbon in 2007 and in Tripoli in 2010.

  • EALA SPeaker Survives Impeachment

    EALA SPeaker Survives Impeachment

    {{A move to impeach East African Legislative Assembly Speaker Margaret Zziwa failed Tuesday after she sent the assembly on recess shortly after the motion seeking her removal was tabled.}}

    Mr Bobi Odiko, the Eala senior spokesperson, last evening said: “It is true the motion has been tabled and the House has been adjourned indefinitely. The issue is not likely to be debated during the current session.”

    The March 27 motion is sponsored by Kenyan representative Peter Mathuki who accuses Ms Zziwa, among other things, of poor governance and leadership skills, abuse of office, disrespect and intimidation of Eala members and staff.

  • Black People at Risk of Heart Diseases

    Black People at Risk of Heart Diseases

    Six out of ten persons of the black race, are more susceptible to heart failures, Dr. Philip Amoo, a Physician Specialist at the Korle-Bu Teaching Hospital in Ghana, has said.

    According to him, persons of the black race are more prone to developing cardiovascular diseases as well as cancers which are usually transmitted through the gene and partly due to poor lifestyle.

    Heart failure means that the heart is not able to pump blood as well as it should.

    Several young persons have had their lives terminated unexpectedly by heart-related diseases in recent times.

    Four risk factors are the strongest predictors of heart failure: high blood pressure (also called hypertension), chronic kidney disease, being overweight, and having low levels of HDL, the “good” cholesterol.

    Most Africans who reportedly develop heart failure, have high blood pressure by age 40, according to research.

    Speaking to local media, Dr. Amoo noted that the situation has become pronounced in in recent times because of failure to give due regard to the risk factors.

    He said: “To have a new hypertension when it’s not in the family or in your gene, you would get it at 60 [which means] you must abuse your body for a long time. But what do we see?”

    “…If our fathers in the village where they are not exposed to these junk foods they hardly ever have these heart attacks, hypertension and so on. Because even though they have the gene that will make them predisposed to all these, the external factor [lifestyle] that must be coupled to it before you’ll have the disease are not there.

    “So if you take Ten Ghanaians from the village somewhere with clean blood pressure…and bring them to Accra, exposed them to the junk food; you wait within Ten years, Six of them would come down with blood pressure,” Dr. Amoo concluded.

    He therefore advised regular checkups particularly for persons of 35 years and above in order not to have their lives abruptly cut by the disease.

    “By the age of 35…checking your blood pressure every year is non-negotiable. Once you are a black [race] make sure that at least yearly you check your blood pressure.

    If you have your mother, your father, [any relative] coming down with hypertension, diabetes then know that you have a higher risk of inheriting the disease and it’s just a matter of time”.

    {Dr. Amoo }

    {myjoyonline}

  • South African Soldiers Get Camouflage Condoms

    South African Soldiers Get Camouflage Condoms

    {{South African soldiers have a new camouflaged weapon in their arsenal, according to a report on Thursday.}}

    Volksblad reported that the bright blue, shiny packet with the familiar grey condoms is being replaced by camouflage packaging.

    The SA Military Health Service (SAMHS) said only the packaging has changed, and the design is unique to the stock packaged for the defence force.

    Condoms are dished out to soldiers – along with a lecture on morality – before they are deployed, according to the report.

    Namibian soldiers have been receiving camouflage-pack condoms for the last five years and theirs come in three different scents while the South African versions are unscented.

    Soldiers are also known to use condoms to cover their rifle barrels in dusty conditions.

  • Zimbabwe Bans Fruits & Vegetable Imports

    Zimbabwe Bans Fruits & Vegetable Imports

    {{Zimbabwe has banned imports of fresh fruit and vegetables with immediate effect, the agriculture ministry said on Wednesday, arguing that increased local production will meet domestic demand.}}

    The ban will mostly impact supplies of tomatoes, potatoes, mangoes, grapes and apples from neighbouring South Africa, the ministry said in a statement.

    South African fruit and vegetable exports to Zimbabwe are worth at least $1m a month, according to trade data.

    Zimbabwe’s farming output, including from its staple maize crop, has slumped by over 60 percent since 2000.

    Critics say President Robert Mugabe – in power since independence from Britain in 1980 – turned one of Africa’s most promising economies and a regional bread basket to a net importer of food.

    But Mugabe’s Zanu-PF says the economy, which shrank by over 40 percent in the decade to 2009, had been sabotaged by Western powers opposed to his nationalist policies.

    news24

  • First Rwandan Media Incubator Offers U$ 450,000 Seed Funding to Local Enterprises

    First Rwandan Media Incubator Offers U$ 450,000 Seed Funding to Local Enterprises

    {{Local media entrepreneurs in Rwanda are scheduled to benefit from support courtesy of Rwanda Media Hub the first incubator for digital media and media production enterprises in East Africa.}}

    Rwanda Media hub was launched April 1 by the Institute for War and Peace Reporting (IWPR) in Kigali.

    The support to local media entrepreneurs includes access to seed grants, office space, mentoring and follow-on funding, to help foster a vibrant media and creative industry.

    According to a statement released by IWPR, the Media Hub grant provides seed funding between US$ 10,000 to 20,000 to up to 25 promising Rwandan enterprises.

    The grants will support a wide variety of projects, from classic content production for audiovisual and print media, to cutting edge digital media companies, and businesses working with Rwandan culture and media in general.

    The Media Hub grant is supported by Embassy of the Kingdom of the Netherland and the Institute of War and Peace Reporting (IWPR).

    {{Who is Eligible?}}

    Applicants can be individuals, businesses, legal partnerships and consortia of organizations that already have an idea or prototype that is well thought through and ready to move past the idea stage into development.

    Applicants, whose proposal falls in to one of the application categories, has the ability to prove itself with an initial grant of up to USD 20,000, and has a positive impact on the local economy, are encouraged to apply.

    Some examples of projects eligible for funding include;

    -* Television programme or series that can be marketed to regional and Rwandan television stations.

    -* Online portal for specific interest groups e.g. doctors, lawyers, entrepreneurs.

    -* Mobile application that applies technology to an everyday problem e.g. real estate search or transport booking service.

    Successful applicants will have demonstrated an existing interest in media and technology, a track record of producing creative content or being active in the creative sector, and a passion to succeed.

    The application period will run from April 4th until – June 1st, 2014. Applicants will be supported by the Rwanda Media Hub throughout the application process via a series of workshops and access to the Rwanda Media Hub technologies and staff.

    All applications will be received online at www.rwandamediahub.com

    Each of the 25 projects that are awarded funding will have a mandatory latest completion of February 15, 2015 with potential to apply for up to three follow-on awards to continue the project beyond 2015.