Food labels multiply, some confuse consumers

0 comments

FRESNO, Calif. (AP) — Want to avoid pesticides and antibiotics in your produce, meat, and dairy foods? Prefer to pay more to make sure farm animals were treated humanely, farmworkers got their lunch breaks, bees or birds were protected by the farmer and that ranchers didn't kill predators?

Food labels claim to certify a wide array of sustainable practices. Hundreds of so-called eco-labels have cropped up in recent years, with more introduced every month — and consumers are willing to pay extra for products that feature them.

While eco-labels can play a vital role, experts say their rapid proliferation and lack of oversight or clear standards have confused both consumers and producers.

"Hundreds of eco labels exist on all kinds of products, and there is the potential for companies and producers to make false claims," said Shana Starobin, a food label expert at Duke University's Nicholas School of the Environment.

Eco-labels have multiplied in recent years in response to rising consumer demand for more information about products and increased attention to animal and farmworker welfare, personal health, and the effects of conventional farming on the environment.

"Credible labels can be very helpful in helping people get to what they want to get to and pay more for something they really care about," said Urvashi Rangan, director of consumer safety at Consumer Reports. "The labels are a way to bring the bottom up and force whole industries to improve their practices."

The problem, Rangan and other said, is that few standards, little oversight and a lot of misinformation exist for the growing array of labels.

Some labels, such as the USDA organic certification, have standards set by the federal government to which third party certifiers must adhere. Some involve non-government standards and third-party certification, and may include site visits from independent auditors who evaluate whether a given farm or company has earned the label.

But other labels have little or no standards, or are certified by unknown organizations or by self-interested industry groups. Many labels lack any oversight.

And the problem is global, because California's products get sold overseas and fruits and vegetables from Europe or Mexico with their own eco-labels make it onto U.S. plates.

The sheer number of labels and the lack of oversight create a credibility problem and risk rendering all labels meaningless and diluting demand for sustainably produced goods, Rangan said.

Daniel Mourad of Fresno, a young professional who likes to cook and often shops for groceries at Whole Foods, said he tends to be wary of judging products just by the labels — though sustainable practices are important to him.

"Labels have really confused the public. Some have good intentions, but I don't know if they're really helpful," Mourad said. "Organic may come from Chile, but what does it mean if it's coming from 6,000 miles away? Some local farmers may not be able to afford a label."

In California, voters this week rejected a ballot measure that would have required labels on foods containing genetically modified ingredients.

Farmers like Gena Nonini in Fresno County say labels distinguish them from the competition. Nonini's 100-acre Marian Farms, which grows grapes, almonds, citrus and vegetables, is certified biodynamic and organic, and her raisins are certified kosher.

"For me, the certification is one way of educating people," Nonini said. "It opens a venue to tell a story and to set yourself apart from other farmers out there."

But other farmers say they are reluctant to spend money on yet another certification process or to clutter their product with too much packaging and information.

"I think if we keep adding all these new labels, it tends to be a pile of confusion," said Tom Willey of TD Willey Farms in Madera, Calif. His 75-acre farm, which grows more than 40 different vegetable crops, carries USDA organic certification, but no other labels.

The proliferation of labels, Willey said, is a poor substitute for "people being intimate with the farmers who grow their food." Instead of seeking out more labels, he said, consumers should visit a farmers' market or a farm, and talk directly to the grower.

Since that's still impossible for many urbanites, Consumer Reports has developed a rating system, a database and a web site for evaluating environmental and food labels — one of several such guides that have popped up recently to help consumers.

The guides show that labels such as "natural" and "free range" carry little meaning, because they lack clear standards or a verification system.

Despite this, consumers are willing to pay more for "free range" eggs and poultry, and studies show they value "natural" over "organic," which is governed by lengthy federal regulations.

But some consumers and watchdog groups are becoming more vigilant.

In October, the Animal Legal Defense Fund filed a lawsuit against Petaluma, Calif., organic egg producer of Judy's Eggs over "free range" claims. The company's packaging depicts a hen ranging on green grass, and the inside reads "these hens are raised in wide open spaces in Sonoma Valley..."

Aerial photos of the farm suggest the chickens actually live in factory-style sheds, according to the lawsuit. Judy and Steve Mahrt, owners of Petaluma Farms, said in a statement that the suit is "frivolous, unfair and untrue," but they did not comment on the specific allegations.

Meanwhile, new labels are popping up rapidly. The Food Justice label, certified via third party audits, guarantees a farm's commitment to fair living wages and adequate living and working conditions for farmworkers. And Wildlife Friendly, another third-party audited program, certifies farmers and ranchers who peacefully co-exist with wolves, coyotes, foxes and other predators.

___

Follow Gosia Wozniacka at http://twitter.com/GosiaWozniacka

Read More..

US computer graphics scientist wins Kyoto Prize

0 comments

TOKYO (AP) — An American regarded as a father of computer graphics, an Indian literary critic and a Japanese molecular cell biologist have received the Kyoto Prize, Japan's highest private award for global achievement.

The Inamori Foundation awarded its advanced technology prize on Saturday to U.S. computer scientist Ivan Sutherland, who developed the graphic interface program Sketchpad in 1963.

Gayatri Chakrovoty Spivak , an Indian literary critic and professor at Columbia University, won the arts and philosophy prize.

Yoshinori Ohsumi, a molecular biologist at the Tokyo Institute of Technology, received the basic sciences prize for his work on autophagy, a cell-recycling system that could be used to help treat neurodegenerative and age-related diseases such as Alzheimer's and cancer.

The Kyoto-based Inamori Foundation was set up in 1984 by Kyocera Corp.'s founder, Kazuo Inamori.

Read More..

Google says multiple services blocked in China

0 comments















SAN FRANCISCO (Reuters) – Google Inc said several of its online services have been blocked in China.


Traffic to Google’s services in China dropped sharply beginning Friday evening there, according to an online “Transparency Report” website operated by Google, which provides updates about access to its services in different parts of the world.













Among the sites affected were Google’s search engine and its Gmail web email product.


The disruptions come as China’s once-in-a-decade meeting to appoint new leadership gets underway.


A Google spokeswoman said the company did not know why the disruption was happening. Google said in a statement that it had “checked and there’s nothing wrong on our end.”


Google’s YouTube video service has been inaccessible in China since 2009, while access to other services in China are blocked sporadically.


In 2010 Google relocated its Chinese search engine to Hong Kong after a spat with authorities over censorship and cyber-attacks that Google said originated in China.


(Reporting By Alexei Oreskovic; editing by John Wallace)


Tech News Headlines – Yahoo! News



Read More..

Malaria vaccine a letdown for infants

0 comments

LONDON (AP) — An experimental malaria vaccine once thought promising is turning out to be a disappointment, with a new study showing it is only about 30 percent effective at protecting infants from the killer disease.

That is a significant drop from a study last year done in slightly older children, which suggested the vaccine cut the malaria risk by about half — though that is still far below the protection provided from most vaccines. According to details released on Friday, the three-shot regimen reduced malaria cases by about 30 percent in infants aged 6 to 12 weeks, the target age for immunization.

Dr. Jennifer Cohn, a medical coordinator at Doctors Without Borders, described the vaccine's protection levels as "unacceptably low." She was not linked to the study.

Scientists have been working for decades to develop a malaria vaccine, a complicated endeavor since the disease is caused by five different species of parasites. There has never been an effective vaccine against a parasite. Worldwide, there are several dozen malaria vaccine candidates being researched.

In 2006, a group of experts led by the World Health Organization said a malaria vaccine should cut the risk of severe disease and death by at least half and should last longer than one year. Malaria is spread by mosquitoes and kills more than 650,000 people every year, mostly young children and pregnant women in Africa. Without a vaccine, officials have focused on distributing insecticide-treated bed nets, spraying homes with pesticides and ensuring access to good medicines.

In the new study, scientists found babies who got three doses of the vaccine had about 30 percent fewer cases of malaria than those who didn't get immunized. The research included more than 6,500 infants in Africa. Experts also found the vaccine reduced the amount of severe malaria by about 26 percent, up to 14 months after the babies were immunized.

Scientists said they needed to analyze the data further to understand why the vaccine may be working differently in different regions. For example, babies born in areas with high levels of malaria might inherit some antibodies from their mothers which could interfere with any vaccination.

"Maybe we should be thinking of a first-generation vaccine that is targeted only for certain children," said Dr. Salim Abdulla of the Ifakara Health Institute in Tanzania, one of the study investigators.

Results were presented at a conference in South Africa on Friday and released online by the New England Journal of Medicine. The study is scheduled to continue until 2014 and is being paid for by GlaxoSmithKline and the PATH Malaria Vaccine Initiative.

"The results look bad now, but they will probably be worse later," said Adrian Hill of Oxford University, who is developing a competing malaria vaccine. He noted the study showed the Glaxo vaccine lost its potency after several months. Hill said the vaccine might be a hard sell, compared to other vaccines like those for meningitis and pneumococcal disease — which are both effective and cheap.

"If it turns out to have a clear 30 percent efficacy, it is probably not worth it to implement this in Africa on a large scale," said Genton Blaise, a malaria expert at the Swiss Tropical and Public Health Institute in Basel, who also sits on a WHO advisory board.

Eleanor Riley of the London School of Hygiene and Tropical Medicine, said the vaccine might be useful if used together with other strategies, like bed nets. She was involved in an earlier study of the vaccine and had hoped for better results. "We're all a bit frustrated that it has proven so hard to make a malaria vaccine," she said. "The question is how much money are the funders willing to keep throwing at it."

Glaxo first developed the vaccine in 1987 and has invested $300 million in it so far.

WHO said it couldn't comment on the incomplete results and would wait until the trial was finished before drawing any conclusions.

Read More..

Transgender Pakistanis face society's scorn

0 comments

RAWALPINDI, Pakistan (AP) — Dressed up in elaborate, feminine outfits and artfully applied makeup, they are showered with money while dancing at all-male wedding parties. But the lives of transgender people in Pakistan are also marked by harassment, rejection and poverty.

Transgender people live in a tenuous position in conservative Pakistan, where the roles of the sexes are traditionally starkly drawn. Families often push them out of the home when they're young, forcing many to prostitute themselves to earn a living.

One role where they are tolerated is as dancers at weddings and other celebrations at which men and women are strictly segregated. In between the dancing and showers of rupee notes, they must fend off groping from drunken guests.

"I don't understand why people feel it is their duty to tease and taunt us," said one transgender Pakistani who goes by the name Symbal. Many in the transgender community pick a name for themselves and do not use their last name to protect their family.

Others beg on the streets or earn money by blessing newborn babies. The blessings reflect a widespread belief in Pakistan and other South Asian nations that God answers the prayers of someone who was born underprivileged, said Iqbal Hussain, a Pakistani researcher who has studied the transgender community. But he cautioned that didn't mean people were ready to give them equal rights.

In recent years the community has gained some government protection. A Supreme Court ruling in 2011 allowed them to get national identity cards recognizing them as a separate identity — neither male or female — and allowing them to vote. In neighboring India, the election commission ruled in 2009 that transgender people could register to vote as "other," rather than male or female.

In other parts of the region and Muslim world, the attitude toward transgenders is also complex. In Thailand, the community is very visible and broadly tolerated. Transgender people are regularly seen on TV soap operas, working at department store cosmetics counters or popular restaurants and walking the runways in numerous transgender beauty pageants.

Many transgender Indonesians publicly wear women's clothes and makeup and work as singers. But societal disdain still runs deep. They have taken a much lower profile in recent years, following a series of attacks by Muslim hard-liners.

In Malaysia, Muslim men who wear women's clothes can be prosecuted in Islamic courts.

In the Arab world, there is little opportunity for transgender people to openly show their identity in public. In 2007, Kuwait made "imitating members of the opposite sex" a crime, leading to the arrest of hundreds of transgender women, Human Rights Watch said. In Iraq, extremists have targeted and killed people perceived of being gay or effeminate.

Read More..

Social media shakes up solitary online FX trading

0 comments















LONDON (Reuters) – The solitary world of online foreign exchange trading is emerging from the shadows as solo investors turn to specialist social media networks to link up with their peers and seek market-beating strategies.


Individual or retail trading, estimated at 8-10 percent of the $ 2.5 trillion daily spot FX market, used to conjure an image of a lone trader with little contact with the outside world.













But that is changing. Thanks to specially tailored websites known as social trading networks, users are able to see and even copy the trades of top-ranked rivals, swap ideas and gauge the market mood in online chat with a community of contacts.


“In the world of trading there are a lot of signals but social media gives us the market sentiment and it is ideal for chatting to people across the world for trade ideas,” said Patrick Orini, who has been trading FX online since 2004.


Retail forex traders make their deals using personal accounts through brokers such as Alpari, FxPro and IronFX. Increasingly, traders are hooking up their broker accounts with social trading networks, such as eToro, Currensee and Tradeo.


Traders usually pay a subscription to use the service while the social network and the broker might share revenue on trades.


In a system reminiscent of microblog network Twitter, top players who make their trades visible can gather thousands of followers, some of whom pay to copy their strategies.


Orini’s trading account on a social trading network called Tradeo has 500 followers, of whom around 20 copy his trades.


If online investors do well in their trades, they will attract more followers and will be ranked higher on the trader “leaderboard” posted on the site.


Retail FX has grown over the last decade as brokers allow individual traders to take highly leveraged positions previously accessible only to institutional investors. The largest group of market players is based in Japan.


eToro, one the world’s largest social trading platforms has processed more than 20 million trades since it went live at the beginning of 2012.


Tradeo, a social network for forex traders based in Tel Aviv, launched three months ago and, according to its co-founder and CEO Jonathan Adest, the site has posted up to half a billion dollars of trades from around 10,000 traders since then.


“It’s not a broker, but a network for brokers — a bit like an online trading room,” Adest said.


He said Tradeo also combats a key hazard of online trading — inaccurate or bogus information. Traders often swap ideas on comment boards, but anonymity and low security makes it difficult to weed out spam.


“The idea of creating a niche social network for forex traders is to help verify commentators usually found in chat rooms and comment boards,” Adest said.


In its increased use of social media, online forex trading is catching up with developments in the equities market.


Retail equities trading is estimated to account for up to half of trade in UK small companies. Retail FX’s smaller share of the overall market reflects the fact that most trade is over-the-counter and lack of volatility that make it harder to turn a profit.


TWITTER


In the equities market, analysis of Twitter postings and news headlines has been used to predict stock price movements.


London-based hedge fund firm Derwent Capital is launching a new spread betting application for retail traders in January that will use Twitter’s 350 million daily tweets to create a sentiment indicator covering currency pairs and other assets.


Social media makes existing currency market sentiment models more effective, said John Hardy, head of FX strategy at Saxo Bank.


“It would be a new way to measure “sentiment” in real time, something that banks can do already via how people are actually trading…but the Twitter measures might be able to bring new nuances and sophistication,” he said.


Arguably, solo traders who hook up to social trading networks are seeking an edge in the “wisdom of crowds”.


“The reason why so many people, like myself, do share their activity and ideas is to help each other and build the community,” Orini said. “I got so many valuable ideas from other traders, that I’m more than happy to share my ideas as well.”


(Editing by Nigel Stephenson)


Internet News Headlines – Yahoo! News



Read More..

He called it, and now Silver's a pop-culture star

0 comments

NEW YORK (AP) — The other night, Nate Silver got a little taste of what things are going to be like for him, post-Election 2012.

The 34-year-old statistician, unabashed numbers geek, author and creator of the much-read FiveThirtyEight blog at The New York Times had gone out for a drink with friends on Manhattan's Lower East Side. But he couldn't stay incognito; Immediately, he says, people sitting at the bar recognized him.

He was surprised, but probably shouldn't have been. After all, for 24 hours, ever since his election forecasts had proved uncannily successful — he correctly predicted the presidential winner in all 50 states, and almost all the Senate races — he'd been hailed as the election's "other winner," who'd silenced doubters and proven the value of a cool-headed, math-based approach.

That very night, he'd appeared on Jon Stewart's "The Daily Show" for the second time in three weeks. "Don't you want to stand up and say, 'I am Nate Silver, bow down to me!!'" Stewart roared, as the bespectacled Silver sat and chuckled. His name was trending on Twitter and he was the subject of a satirical Twitter hashtag, "Drunk Nate Silver." The Hollywood Reporter said he'd "made statistics sexy again." Many called his story a real-life "Revenge of the Nerds" tale.

And oh, his new book had soared to No. 2 on Amazon, after he linked to it on Twitter an hour after the first network call for President Barack Obama. ("This is probably a good time to link to my book," he'd tweeted at 12:13 a.m. — the closest he came to gloating.)

Even so, Silver says he wasn't quite prepared for that incident in the bar.

"It's odd," he said Thursday in a telephone interview from his Brooklyn home. "Is this going to happen every day, as opposed to once a month? I still have to get accustomed to this."

Silver, who uses computer models that he runs on a beat-up laptop at home, is quick to acknowledge the accomplishments of others using similar methods. "It's a little strange to become a kind of symbol of a whole type of analysis," he said. And he noted that similar work was being done with, for example, weather, all the time. "You have to give those forecasters way more credit," he said. "Their forecasts have real life-and-death consequences"

In politics, too, others have used similar computer models to predict races. What Silver has done, though, is not only arrive at a formula that uses aggregated polls and other weighted factors to achieve his predictions, but to write about them in an accessible and engaging way.

His father, political science professor Brian Silver, attributes his son's success to a two-pronged drive: "He's driven by a need to get the answers to a problem, but he also is very concerned with the narrative, with telling the story," said the elder Silver, who teaches at Michigan State University.

The father recalls his son at 2 years old, already revealing himself as a prodigy with numbers — his mother asked him to count to three, and he went to 20. By four, he understood negative numbers, and could multiply in his head.

Needless to say he was a math whiz, but he also was a debating champion, winning competitions in high school. "On the debate team, it was OK to be a geek," Brian Silver explained. Nate then went off to the University of Chicago, where he earned a degree in economics.

A few years in consulting followed. It bored him, but it was during those years that Silver turned his love of baseball into a sophisticated forecasting system of player performance. That became his new career; he sold the system to Baseball Prospectus, and wrote a weekly column there on baseball research.

In 2007, Silver started writing about politics — at first under a pseudonym, "Poblano." He quickly gained an audience for his forecasts during the presidential primaries. In March of 2008, he began his FiveThirtyEight blog, and a few months later revealed his name.

"People had been thinking Poblano was a major pollster," said his father. "He was just a kid with a B.A. in economics."

With his success in the 2008 race — he got every state right except for Indiana — Silver was already a big name. In 2009 he was named one of Time's 100 Most Influential People. In 2010, he licensed his blog to The New York Times.

But the 2012 election brought a new level of pressure. While Democrats flocked to his blog and took daily solace in his consistent prediction that Obama would win — though not by a lot — commentators on the right were critical, and he was accused of weighting his forecasts too heavily toward Democrats.

MSNBC host Joe Scarborough, a former Republican congressman, called him a "joke." Silver responded by betting him that Obama would win, a bet that Scarborough didn't take him up on and that was later criticized by the Times ombudsman. (That bet was the poker player in him, Silver says now; he spent a couple years playing serious online poker.)

Much more disturbing, said Silver, were what he called the homophobic comments that some resorted to on the Web. "That was a little shocking," he said. Added his father: "It got very personal."

But Silver says he always felt confident in his projections. "I didn't see any particular reason for the polls to be off the mark," he said. "Republicans said Democrats were oversampled, but without much justification. I felt pretty confident personally." Silver predicted 90.9 percent certainty that Obama would win, and forecast him getting 313 electoral college votes; he has 303 without Florida, which is still counting and could take him to 332.

On Election Day itself, Silver felt nervous, but only because there was nothing left to do. Once the early results started coming in, he relaxed. And then, of course, came vindication. "You know who won the election tonight? Nate Silver," said Rachel Maddow on MSNBC. Even Bret Baier on Fox gave credit on air to Silver. On "The Daily Show," Stewart basically credited Silver with saving the reputation of arithmetic — and more. "Like, gravity would have been up for grabs," Stewart quipped, if Silver had been wrong.

There have been some gripes that Silver doesn't reveal his actual formula. "He has very carefully explained how he does things," his father answers. "But he's not giving away his code. He shouldn't be expected to do that."

Nate Silver does say, however, that in the future, "Maybe we'll have to be clearer." He also voices concern that precise forecasting could have the frightening effect of influencing voter behavior — something that obviously doesn't happen in areas like weather. "You don't want to influence the same system you are trying to forecast," he said.

Silver also says he doesn't necessarily expect the same results forever. "I know we're going to have some misses sooner or later," he said, adding that an incorrect forecast on the Senate race in North Dakota is "proof that we can be wrong — and polls can be wrong." Others have pointed out that Silver's forecasting is, of course, only as good as the polls he is using, since he's not a pollster himself.

For now, though, he's trying to enjoy it all as much as he can.

"When you get into statistical analysis, you don't really expect to achieve fame," he observed wryly. "Or to become an Internet meme. Or be parodied by The Onion — or be the subject of a cartoon in The New Yorker. I guess I'm kind of an outlier there."

What's ahead for Silver? Turns out, forecasting his own future feels much more difficult than forecasting an election.

"It can be a fulltime job, figuring out what your job is going to be," he quipped.

For now, he has a second book to write, part of a two-book deal. And FiveThirtyEight is set to remain at the Times until mid-2013. After that, he doesn't know yet, though he noted, with understatement: "I know I'll have more opportunities now." But he added: "I'm sure there will be a FiveThirtyEight forecast in 2016."

For now, he prefers to look at life, and life choices, as a poker player, since he loves the game.

"You get steely nerves playing poker," he said. "It's part skill and part luck. You hope you win enough bets to make a living on, right?"

Read More..

Malaria vaccine a letdown for infants

0 comments

LONDON (AP) — An experimental malaria vaccine once thought promising is turning out to be a disappointment, with a new study showing it is only about 30 percent effective at protecting infants from the killer disease.

That is a significant drop from a study last year done in slightly older children, which suggested the vaccine cut the malaria risk by about half — though that is still far below the protection provided from most vaccines. According to details released on Friday, the three-shot regimen reduced malaria cases by about 30 percent in infants aged 6 to 12 weeks, the target age for immunization.

Dr. Jennifer Cohn, a medical coordinator at Doctors Without Borders, described the vaccine's protection levels as "unacceptably low." She was not linked to the study.

Scientists have been working for decades to develop a malaria vaccine, a complicated endeavor since the disease is caused by five different species of parasites. There has never been an effective vaccine against a parasite. Worldwide, there are several dozen malaria vaccine candidates being researched.

In 2006, a group of experts led by the World Health Organization said a malaria vaccine should cut the risk of severe disease and death by at least half and should last longer than one year. Malaria is spread by mosquitoes and kills more than 650,000 people every year, mostly young children and pregnant women in Africa. Without a vaccine, officials have focused on distributing insecticide-treated bed nets, spraying homes with pesticides and ensuring access to good medicines.

In the new study, scientists found babies who got three doses of the vaccine had about 30 percent fewer cases of malaria than those who didn't get immunized. The research included more than 6,500 infants in Africa. Experts also found the vaccine reduced the amount of severe malaria by about 26 percent, up to 14 months after the babies were immunized.

Scientists said they needed to analyze the data further to understand why the vaccine may be working differently in different regions. For example, babies born in areas with high levels of malaria might inherit some antibodies from their mothers which could interfere with any vaccination.

"Maybe we should be thinking of a first-generation vaccine that is targeted only for certain children," said Dr. Salim Abdulla of the Ifakara Health Institute in Tanzania, one of the study investigators.

Results were presented at a conference in South Africa on Friday and released online by the New England Journal of Medicine. The study is scheduled to continue until 2014 and is being paid for by GlaxoSmithKline and the PATH Malaria Vaccine Initiative.

"The results look bad now, but they will probably be worse later," said Adrian Hill of Oxford University, who is developing a competing malaria vaccine. He noted the study showed the Glaxo vaccine lost its potency after several months. Hill said the vaccine might be a hard sell, compared to other vaccines like those for meningitis and pneumococcal disease — which are both effective and cheap.

"If it turns out to have a clear 30 percent efficacy, it is probably not worth it to implement this in Africa on a large scale," said Genton Blaise, a malaria expert at the Swiss Tropical and Public Health Institute in Basel, who also sits on a WHO advisory board.

Eleanor Riley of the London School of Hygiene and Tropical Medicine, said the vaccine might be useful if used together with other strategies, like bed nets. She was involved in an earlier study of the vaccine and had hoped for better results. "We're all a bit frustrated that it has proven so hard to make a malaria vaccine," she said. "The question is how much money are the funders willing to keep throwing at it."

Glaxo first developed the vaccine in 1987 and has invested $300 million in it so far.

WHO said it couldn't comment on the incomplete results and would wait until the trial was finished before drawing any conclusions.

Read More..

Myanmar says Obama to visit later this month

0 comments

YANGON, Myanmar (AP) — President Barack Obama will make a groundbreaking visit later this month to Myanmar, an official said Thursday, following through with his policy of rapprochement to encourage democracy in the Southeast Asian nation.

The Myanmar official speaking from the capital, Naypyitaw, said Thursday that security for a visit on Nov. 18 or 19 had been prepared, but the schedule was not final. He asked not to be named because he was not authorized to give information to the media.

The official said Obama would meet with opposition leader Aung San Suu Kyi as well as government officials including reformist President Thein Sein.

It would be the first-ever visit to Myanmar by an American president. U.S. officials have not yet announced any plans for a visit, which would come less than two weeks after Obama's election to a second term.

Obama's administration has sought to encourage the recent democratic progress under Thein Sein by easing sanctions applied against Myanmar's previous military regime.

Officials in nearby Thailand and Cambodia have already informally announced plans for visits by Obama that same week. Cambodia is hosting a summit meeting of the Association of Southeast Asian Nations, and Thailand is a longtime close U.S. ally.

The visit to Myanmar, also known as Burma, would be the culmination of a dramatic turnaround in relations with Washington as the country has shifted from five decades of ruinous military rule and shaken off the pariah status it had earned through its bloody suppression of democracy.

Obama's ending of the long-standing U.S. isolation of Myanmar's generals has played a part in coaxing them into political reforms that have unfolded with surprising speed in the past year. The U.S. has appointed a full ambassador and suspended sanctions to reward Myanmar for political prisoner releases and the election of Nobel laureate Suu Kyi to parliament.

From Myanmar's point of view, the lifting of sanctions is essential for boosting a lagging economy that was hurt not only by sanctions that curbed exports and foreign investment, but also by what had been a protectionist, centralized approach. Thein Sein's government has initiated major economic reforms in addition to political ones.

A procession of senior diplomats and world leaders have traveled to Myanmar, stopping both in the remote, opulent capital city, which was built by the former ruling junta, and at Suu Kyi's dilapidated lakeside villa in the main city of Yangon, where she spent 15 years under house arrest. New Zealand announced Thursday that Prime Minister John Key would visit Myanmar after attending the regional meetings in Cambodia.

The most senior U.S. official to visit was Hillary Rodham Clinton, who last December became the first U.S. secretary of state to travel to Myanmar in 56 years.

The Obama administration regards the political changes in Myanmar as a marquee achievement in its foreign policy, and one that could dilute the influence of China in a country that has a strategic location between South and Southeast Asia, regions of growing economic importance.

But exiled Myanmar activists and human rights groups are likely to criticize an Obama visit as premature, rewarding Thein Sein before his political and economic reforms have truly taken root. The military — still dominant and implicated in rights abuses — has failed to prevent vicious outbreaks of communal violence in the west of the country that have left scores dead.

Read More..

Exclusive: Google Ventures beefs up fund size to $300 million a year

0 comments

SAN FRANCISCO (Reuters) - Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.


Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.


It puts the firm on the same footing as more established corporate venture funds such as Intel's Intel Capital, which typically invests $300-$500 million a year.


"It puts a lot more wood behind the arrow if we need it," said Bill Maris, managing partner of Google Ventures.


Part of the rationale behind the increase is that Google Ventures is a relatively young firm, founded in 2009. Some of the companies it backed two or three years ago are now at later stages, potentially requiring larger cash infusions to grow further.


Google Ventures has taken an eclectic approach, investing in a broad spectrum of companies ranging from medicine to clean power to coupon companies.


Every year, it typically funds 40-50 "seed-stage" deals where it invests $250,000 or less in a company, and perhaps around 15 deals where it invests up to $10 million, Maris said. It aims to complete one or two deals annually in the $20-$50 million range, Maris said.


LACKING SUPERSTARS


Some of its investments include Nest, a smart-thermostat company; Foundation Medicine, which applies genomic analysis to cancer care; Relay Rides, a carsharing service; and smart-grid company Silver Spring Networks. Last year, its portfolio company HomeAway raised $216 million in an initial public offering.


Still, Google Ventures lacks superstar companies such as microblogging service Twitter or online bulletin-board company Pinterest. The firm's recent hiring of high-profile entrepreneur Kevin Rose as a partner could help attract higher-profile deals.


Soon it could have even more cash to play around with. "Larry has repeatedly asked me: 'What do you think you could do with a billion a year?'" said Maris, referring to Google chief executive Larry Page.


(Editing by Muralikumar Anantharaman)


Read More..