When Egypt's satirists poke fun, public prosecutor hits back

The case of Bassem Youssef, the Egyptian satirist accused of insulting Islam and the president, has exposed what seems to be a series of politically motivated investigations into government critics.?

By Kristen Chick,?Correspondent / April 3, 2013

In this March 31 photo, a bodyguard secures popular Egyptian television satirist Bassem Youssef, who has come to be known as Egypt's Jon Stewart, as he enters Egypt's state prosecutors office to face accusations of insulting Islam and the country's Islamist leader in Cairo, Egypt.

Amr Nabil/AP

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Egypt is escalating a series of cases against government critics, and pursuing investigations against journalists, comedians, and activists in what the president's critics say is a bid to silence them.?

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Today prosecutors questioned Ali Qandil, a standup comedian who appeared on the popular political satire show hosted by Egyptian Bassem Youssef. He's accused of insulting Islam during his 20-minute appearance on Mr. Youssef's show, Al Bernameg, or The Program.?

Mr. Youssef himself was interrogated on March 31, over accusations of insulting Islam as well as the president.?A new case has been filed against him as well.?And now Shaimaa Abu El Khir, a journalist who works with The Committee to Protect Journalists, faces accusations?of threatening national security and insulting the judiciary, as does the television host who interviewed her, after?commenting critically on the case against Youssef.

These cases come on the heels of prosecution of?many other local?journalists and prominent opposition activists?in what?critics of the Muslim Brotherhood-backed president, Mohamed Morsi,?say seems?to be a politically motivated campaign against the president's critics by his handpicked public prosecutor.

Activists say the incidents are?further eroding?trust in the public prosecutor's position,?already low because?Morsi appointed the prosecutor himself in a controversial November decree?bypassing the constitutional process.

?We have a big problem with the public prosecutor. He's not independent,? says Ahmed Ezzat, a lawyer who is an activist for freedom of expression and attended Qandil's questioning today. He says the types of cases he is pursuing show where his priorities lie. Complaints of police torture and violence committed by the president's supporters?do not seem to be?pursued with the?same?vigor as cases against the president's opponents.?

The wrong priorities?

The US has been criticized by many Egyptians for not coming down hard enough on the new government for human and civil rights violations, but this string of events seems to have generated concern.?

US Secretary of State John Kerry said yesterday that the US has ?real concerns about the direction that Egypt appears to be moving in," mentioning ?recent arrests? ??likely a?reference?to?Youssef's case. Earlier this week State Department?spokeswoman Victoria Nuland called Youssef's interrogation part of a ?disturbing trend of growing restrictions on the freedom of speech? in Egypt.

The Muslim Brotherhood's Freedom and Justice Party struck back stridently, calling the remarks a ?blatant interference in Egypt?s internal affairs? that ?raise major question marks about the US administration?s position and discourse.? The party said the ?main? complaint against Youssef was defaming Islam, not insulting Morsi.

Morsi's administration released a statement distancing itself from the case against Youssef, saying the prosecutor was acting independently.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/_8DZ0KsKH_Y/When-Egypt-s-satirists-poke-fun-public-prosecutor-hits-back

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Asian shares, US dollar capped as more data looms

By Chikako Mogi

TOKYO (Reuters) - Asian shares were capped while the dollar eased on Tuesday, with investors growing cautious ahead of new indicators that could flag slowing U.S. economic momentum.

The private ADP employment report and the latest weekly jobless claims figures precede the key monthly U.S. nonfarm payrolls report on Friday.

European markets were likely to return from Easter holidays on a decline, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open down as much as 0.3 percent. Benchmark indices in Spain and Italy were likely to drop 0.8 percent and 0.7 percent respectively at the open.

U.S. stock futures were steady, pointing to a calm Wall Street start after falling overnight. The Institute for Supply Management's index of national factory activity slipped in March with new orders, a key indicator of future growth, accounting for much of the fall.

Oil and copper, markets sensitive to industrial demand, fell as investors focused on Monday's official Chinese factory activity report which came in below forecasts.

"You see the U.S. economy settling into a long, hard grind of moderate growth of around 1 to 1.5 percent, growth in previous recoveries was closer to 3.5 percent," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

"With this kind of growth, the United States is going to struggle to bring down unemployment which is a real drag on the economy."

A run of generally solid U.S. economic reports helped restore global risk appetite despite worries in the euro zone after the Cyprus bailout and some growth concerns in China.

The MSCI's broadest index of Asia-Pacific shares outside Japan gave up earlier gains to inch down 0.1 percent, pulled lower by a 1 percent slide in South Korean shares and weak Chinese shares.

But Australian shares bucked the trend and rose 0.4 percent, as investors returned from the Easter break looking for bargains after last week's dip. The Reserve Bank of Australia helped, keeping its main cash rate at a record low of 3.0 percent but leaving open the possibility of further easing.

DOLLAR LOSES MOMENTUM

"Investors are not making big bets following subdued manufacturing data in the United States and China and ahead of two major events later this week," Lee Jae-man, an analyst at Tong Yang Securities said, referring to meetings of central banks in Japan and Europe.

The Nikkei stock average tumbled as much as 2.7 percent to a one-month low before trimming some of the losses to fall 0.8 percent. The index logged its best quarterly performance in nearly four years in the first three months of 2013.

Both the Bank of Japan and the European Central Bank hold policy meetings later in the week. The BOJ is expected to announce fresh stimulus measures under its new leadership in line with Prime Minister Shinzo Abe's drive to reflate the economy.

The weak U.S. data weighed on the dollar, pushing it down to a one-month low of 92.57 yen. The euro fell 0.3 percent to 119.20 yen, its lowest since February 26.

Benchmark 10-year U.S. Treasury yield inched closer to 1.8 percent after topping 2 percent in early March for the first time in almost a year. Ten-year Japanese government bond yield has declined from around 0.7 percent early in March to a near-decade low of 0.51 percent last week, before rebounding to around 0.56 percent.

"Expectations for an expansionary U.S. economy are weakening and long-term yields are falling, that's what is primarily driving the dollar lower," said Koji Fukaya, CEO and currency strategist of FPG Securities in Tokyo.

A weak yen trend which had been in place since last November had transformed into a strong dollar trend on signs of stronger U.S. growth earlier this year, but the latest soft indicator stoked concerns about such growth prospects.

"In such a context, markets were ripe for position adjustments, also as the second quarter may see effects of U.S. fiscal tightening taking a toll on the economy, even if the underlying recovery path remains firm," Fukaya said.

The waning of the dollar's relative outperformance and Cyprus at least avoiding bankruptcy were preventing the euro from falling through recent lows, although the currency faced more downside than the upside due to its wobbly fundamentals, traders said.

The euro inched up 0.1 percent to $1.2860, moving away from a four-month low of $1.2750 touched last week.

U.S. crude futures fell 0.4 percent to $96.69 a barrel while Brent eased 0.3 percent to $110.76.

London copper fell 1.2 percent to $7,452 a tonne, after touching a seven-month low earlier.

A weak dollar benefited bullion, keeping spot gold above $1,600 an ounce, but investors were loth to build positions too much ahead of Friday's payrolls data.

"I think sentiment is neutral. It can't break through $1,620-$1,625, but on the downside, we can say $1,590-$1,585 seem to be the floor," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

Source: http://news.yahoo.com/asian-shares-us-dollar-capped-more-data-looms-062857852--finance.html

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What Advertisers Think About Mobile - Business Insider

Mobile Insights?is a daily newsletter from?BI Intelligence?delivered first thing every morning exclusively to?BI Intelligence?subscribers.?Sign up for a free trial of BI Intelligence today.

---

Consumers Love Mobile, But What About Advertisers? (VentureBeat)
Despite all of the time we spend on our smartphones, mobile advertising trails online advertising. CPMs for mobile remain a fraction of what they are on the Web. Here are the views of some big brands:

• Pandora: Pandora does 1.5 billion hours a month of streaming, and mobile accounts for 80 percent of those listening hours, according to Dominic Paschel, vice president at Pandora. Rebutting a common complaint, Paschel says advertisers have been willing to try new formats on mobile.
• The Weather Channel: Alex Linde, VP of digital and mobile apps at The Weather Channel, says mobile is a critical piece in the future of the company. "Each screen has its place."
• Sephora: Brands are themselves launching mobile apps to augment their in-store experiences. ?Mobile is increasingly important to Sephora overall,? says Bridget Dolan, VP of Digital Marketing at Sephora.
• Trulia:?"iPads and tablets have more screen real estate which enables more innovative ad integrations," says Lee Clancy, VP of Consumer Products for Trulia.

That all said, CPMs for mobile are still a fraction of what they are on the Web.? Read >>

The Future For iAd (GoMo News)
When Apple unveiled iAd back in 2010, it seemed the mobile advertising equivalent of Nirvana. Here was state of the art technology that enabled advertisers to create beautiful in-app rich media ads to target a ready-made community of iOS device users. Three years on and the picture is more complicated. The short answer as to whether iAd has a future has to be, "yes." iAd has a number of rich interactive ad types and is backed by Apple which already has a sizeable footprint, so it will always be attractive to advertisers.The more interesting question is whether iAd will become a dominant mobile advertising platform.? Read >>

Screen Size Matters For Mobile Design (VentureBeat)
Smart phones, tablets, and smart TVs will soon be powered by the same technology stack ? ARM processors running iOS or Android along with their respective app stores. That means the key differentiating feature between these devices will be staring you right in the face ? screen size. Screen size matters more than content creators think. For starters, consider research from Google that shows engagement increases with screen size.?This makes sense, as people consume content differently on different screen sizes. 4-5? phones are great for checking emails, tweets, social networks, listening to music, and playing casual games like Angry Birds. Consumers surveys show that email is the number one activity on smart phones. Read >>

Microsoft And BlackBerry Look To Step Up Tablet Wars (CMSWire)
Various reports suggest Microsoft and BlackBerry will be trying again to compete with the tablet giants. Microsoft has made some changes to its hardware template profiles, which should allow partners to create a new range of tablet devices. The new BlackBerry 10 platform gives it a clean slate to start off with and a company roadmap suggests a tablet will be following on, along with a phablet-type device in the third or fourth quarter after the launch of the Q10 keyboard-phone. Most likely the company will focus on the enterprise. Read >>

Mobile Is Poised To Revolutionize Healthcare (Worldcrunch)
It may also turn you into a hypochondriac. "With wireless networks, Internet, connectivity, bandwidth capacities, the huge popularity of smartphones, cloud computing ? capable of storing enormous volumes of data ? we have a convergence of tools that can be applied to medicine," explains Professor Eric Topol, a cardiologist specialized in genomics and director of the Scripps Transnational Science Institute in La Jolla, California. "We are in the middle of a digital revolution that will shake the world of medicine." Topol notes that there are six billion cell phones in the world. "That?s more than toothbrushes or toilets," he says. Read >>

The Most Important Features Of A Mobile-Friendly Website (Business2Community)
With mobile traffic making up 10 percent of all Internet use the world over (2012 figures), it is becoming increasingly important to understand how mobile users interact with websites on smaller devices and craft mobile experiences accordingly.? Read >>

Source: http://www.businessinsider.com/what-advertisers-think-about-mobile-2013-44

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Aereo wins a crucial court battle, opens up partnership talks with ISPs and pay-TV providers

Something tells us the US Court of Appeals for the Second District has no intentions to kid around with its latest decision, despite it coming down on the 1st of April. In what can only be viewed as a monumental victory for Aereo, the aforesaid court has just rejected an appeal from a smattering of TV networks that are hellbent on stopping the web-streaming company from treading on their territory. For those unaware, Aereo allows users to stream OTA television networks over the web, but this here court found that the system did not infringe on the broadcasters' copyrights. Of course, a battle at the Supreme Court level is a practical certainty, so it's definitely not out of the proverbial woods just yet.

That said, a separate Wall Street Journal report sheds light on ongoing discussions between the startup and some very established players in the industry -- if you can't beat 'em, join' em... right? As the story goes, AT&T, Dish Network and DirecTV have all spoken with Aereo as the company hopes to expand its footprint beyond New York City and the surrounding areas. On one hand, a mega-corp swallowing Aereo could lead to near-instant demise for its technologies, but given the right owner, it could provide the disruption the pay-TV sector so badly needs.

Filed under: Home Entertainment, HD

Comments

Via: TechCrunch, The Verge

Source: US Court of Appeals for the Second Circuit [PDF], WSJ

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/8H0Z-ySlpnc/

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Pope makes Easter plea for Mideast peace

VATICAN CITY (AP) ? Pope Francis delivered a plea for peace in his first Easter Sunday message to the world, decrying the seemingly endless conflicts in the Middle East and on the Korean peninsula after celebrating Mass at an outdoor altar before more than 250,000 people in flower-bedecked St. Peter's Square.

Francis shared in his flock's exuberance as they celebrated Christianity's core belief that Jesus Christ rose from the dead following crucifixion. After Mass, he stepped aboard an open-topped white popemobile for a cheerful spin through the joyous crowd, kissing babies and patting children on the head.

One admirer of both the pope and of the pope's favorite soccer team, Argentina's Saints of San Lorenzo, insisted that Francis take a team jersey he was waving at the pontiff. A delighted Francis obliged, briefly holding up the shirt, and the crowd roared in approval.

Francis has repeatedly put concern for the poor and suffering at the center of his messages, and he pursued his promotion of the causes of peace and social justice in the Easter speech he delivered from the central balcony of St. Peter's Basilica, the same vantage point above the square where he was introduced to the world as the first Latin American pope on March 13.

The Roman Catholic leader aimed his Easter greetings at "every house and every family, especially where the suffering is greatest, in hospitals, in prisons." Francis prayed that Jesus would inspire people to "change hatred into love, vengeance into forgiveness, war into peace."

As popes before him have, he urged Israelis and Palestinians to resume peace talks and end a conflict that "has lasted all too long." And, in reflecting on the two-year-old Syrian crisis, Francis asked, "How much suffering must there still be before a political solution" can be found?

The pope also expressed desire for a "spirit of reconciliation" on the Korean peninsula, where North Korea says it has entered "a state of war" with South Korea. He also decried warfare and terrorism in Africa, as well as what he called the 21st century's most extensive form of slavery: human trafficking.

The first pontiff to come from the Jesuits, an order with special concern for the poor, and the first pope to name himself after St. Francis, a medieval figure who renounced wealth to preach to the down-and-out, Francis lamented that the world is "still divided by greed looking for easy gain."

Earlier, wearing cream-colored vestments, Francis celebrated Mass on the esplanade in front of the basilica at an altar set up under a white canopy. He frequently bowed his head as if in silent reflection.

The sun competed with clouds in the sky Sunday, but the square was a riot of floral color in Rome, where chilly winter has postponed the blossoming of many flowers. Yellow forsythia and white lilies shone, along with bursts of lavender and pink, from potted azalea, rhododendron, wisteria and other plants.

Francis thanked florists from the Netherlands for donating the flowers. He also advised people to let love transform their lives, or as he put it, "let those desert places in our hearts bloom."

The Vatican had prepared a list of brief Easter greetings in 65 languages, but Francis didn't read them. The Vatican didn't say why not, but has said that the new pope, at least for now, feels at ease using Italian, the everyday language of the Holy See. Francis also has stressed his role as a pastor to his flock, and, as Bishop of Rome, Italian would be his language.

The pontiff improvised his parting words to the crowd. He repeated his Easter greeting to those "who have come from all over the world to this square at the heart of Christianity" as well as to those "linked by modern technology," a reference to TV and radio coverage as well as social media.

Francis added that he was especially remembering "the weakest and the neediest" and praying that all of humanity be guided along "the paths of justice, love and peace."

In another departure from Easter tradition, Francis won't be heading for some post-holiday relaxation at the Vatican's summer palace in Castel Gandolfo, in the hills southeast of Rome. That retreat is already occupied by his predecessor, Benedict XVI, who went there in the last hours of his papacy on Feb. 28. Benedict became the first pope in 600 years to resign from the position, and eventually is to move back to the Vatican, after a convent there is readied for him.

Francis so far has declined to move into Benedict's former apartment in the Apostolic Palace, into the rooms whose studio overlooks St. Peter's Square. He is still in the Vatican hotel where earlier this month he was staying along with other cardinals participating in the secret conclave to choose Benedict's successor.

While Francis has just begun to make his mark on the church, it is plain he has little desire to embrace much of the pomp customarily associated with the office.

Source: http://news.yahoo.com/pope-makes-easter-pleas-mideast-peace-101523086.html

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Argentina challenges U.S. court with bond plan

By Nate Raymond and Hugh Bronstein

NEW YORK/BUENOS AIRES (Reuters) - Argentina challenged a U.S. court over the weekend by proposing that "holdout" bond investors be repaid only about one sixth the money federal judges hearing the case say they are owed, setting the stage for a legal showdown in New York.

The terms offered by Argentina are the same as those accepted by bondholders who chose to participate in the country's 2010 sovereign bond restructuring. The holdouts rejected that restructuring and are holding out for full repayment.

Aside from the implications the case has for Argentina's finances, it could also have wide ramifications for the way future sovereign restructurings are carried around the world.

Argentina defaulted on $100 billion in sovereign debt in 2002 at the height of a financial crisis in Latin America's third largest economy. The bonds now under dispute were issued in New York, which is why the case is being heard in U.S. court.

Elliott Management affiliate NML Capital Ltd, one of the lead plaintiffs, has said that it will not accept 2010 terms They and other holdouts are sure to argue that Argentina's proposal does not respond to the court's request.

"The court said 'You owe the holdouts $1.3 billion. Tell us how you are going to pay that to them,'" said Josh Rosner, managing director at research firm Graham Fisher & Co in New York.

"Instead of answering how they will pay the full amount, Argentina responded with a plan for paying a much smaller amount," he said. "Argentina is flirting with technical default, which would take a serious toll its economy."

The specter of technical defaults comes from the fact that a U.S. District Court in New York has said that until the holdouts start getting paid, Argentina cannot make payments to holders of the restructured bonds.

Elliott stands currently to receive $720 million from Argentina following a New York judge's order in November, according to Argentina.

But the bonds NML could take had a market value of just $186.8 million before a major decision in the case last October favoring the holdouts, or $120.6 million as of March 1, the filing said. Argentina estimates NML paid about $48.7 million in 2008 for its stake in the bonds.

"The Republic is prepared to fulfill the terms of this proposal promptly upon Order by the Court by submitting a bill to Congress that ensures its timely implementation," Jonathan Blackman, Argentina's U.S. lawyer, wrote.

Around 92 percent of Argentina's defaulted bonds were restructured in 2005 and 2010, with bondholders receiving 25 cents to 29 cents on the dollar.

But holdouts led by NML Capital and Aurelius Capital Management have fought for years for full payment. Argentina calls these funds "vultures."

In October, the 2nd Circuit upheld a trial judge's ruling by finding Argentina had violated a so-called pari passu clause in its bond documents requiring it to treat creditors equally.

U.S. District Judge Thomas Griesa in Manhattan subsequently ordered Argentina in November to pay the $1.33 billion owed to the bondholders into an escrow account by the time of its next interest payment to holders of the exchanged debt.

The 2nd Circuit heard an appeal of that order on February 27. Two days later, it directed Argentina to provide details of "the precise terms of any alternative payment formula and schedule to which it is prepared to commit."

BOND OPTIONS

In its 22-page submission late on Friday, Argentina said that under a so-called par bond option, the bondholders would receive new bonds due in 2038 with the same nominal face value of their current bonds. They would pay 2.5 percent to 5.25 percent a year, Argentina said.

Bondholders would also receive an immediate cash payment similar to what it provided under the 2010 debt swap, Argentina said. And they would receive derivative instruments that provide payments when the country's gross domestic product exceeds 3 percent a year.

The par option is restricted to small investors, unlike the discount option, the more applicable fit for big investors like NML and Aurelius.

Under the discount proposal, holdouts could receive new discount bonds due in 2033 that pay 8.28 percent annually. Argentina said the holdouts would also receive past due interest since 2003 in the form of bonds due in 2017 paying 8.75 percent a year, and GDP-linked derivative units.

Blackman, Argentina's lawyer, wrote that the proposal, unlike what he called the "100 cents on the dollar immediately" formula Griesa adopted, "is consistent with the pari passu clause, longstanding principles of equity, and the Republic's capacity to pay."

It was unclear on Saturday how the court might view Argentina's proposals. The same three-judge panel had said in October, though, that the holdouts "were completely within their rights" to reject prior debt swap offers.

Euginio Bruno, a lawyer and bond restructuring expert with the law firm Estudio Garrido Abogados in Buenos Aires, said the government's Friday proposal "was within expectations, considering the legal constraints on offering anything better than the terms of the 2010 restructuring."

Argentina has a "lock law" that keeps new governments from improving the terms of previous restructurings.

Earlier in the week, the holdouts scored a victory over Argentina when the 2nd Circuit denied a full court review of its October ruling on the equal treatment provision.

The United States had backed Argentina in seeking the review, contending the 2nd Circuit's decision ran "counter to longstanding U.S. efforts to promote orderly restructuring of sovereign debt.

Argentina and holders of its restructured bonds say granting the holdouts 100 cents on the dollar could complicate future sovereign restructurings around the world.

Argentine Vice President Amado Boudou repeated on Saturday that Argentina would continue repaying investors who participated in the restructuring no matter how the U.S. court case is resolved.

"One way or another, Argentina will pay," he said.

The case is NML Capital Ltd et al v. Republic of Argentina, 2nd U.S. Circuit Court of Appeals, No. 12-105.

(Reporting by Nate Raymond; Additional reporting by Helen Popper, Alejandro Lifschitz and Guido Nejamkis in Buenos Aires; Editing by Todd Eastham, Will Dunham and Eric Beech)

Source: http://news.yahoo.com/argentina-challenges-u-court-bond-plan-011959470--sector.html

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