Beijing air pollution off the charts

BEIJING People refused to venture outdoors and buildings disappeared into Beijing's murky skyline on Sunday as the air quality in China's notoriously polluted capital went off the index.

The Beijing Municipal Environmental Monitoring Center said on its website that the density of PM2.5 particulates had surpassed 700 micrograms per cubic meter in many parts of the city. The World Health Organization considers a safe daily level to be 25 micrograms per cubic meter.

PM2.5 are tiny particulate matter less than 2.5 micrometers in size, or about 1/30th the average width of a human hair. They can penetrate deep into the lungs, so measuring them is considered a more accurate reflection of air quality than other methods.

The Beijing center recommended that children and the elderly stay indoors, and that others avoid outdoor activities.

The U.S. Embassy also publishes data for PM2.5 on Twitter, and interprets the data according to more stringent standards.

A child on a bicycle is pushed by a woman on a stone arch bridge in heavy smog in Beijing, China, January 13, 2013.

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Chen Yujie/AP Photo

In the 24-hour period up to 10 a.m. Sunday, it said 18 of the hourly readings were "beyond index." The highest number was 755, which corresponded to a PM2.5 density of 886 micrograms per cubic meter. The U.S. Environmental Protection Agency's air quality index goes up to only 500, and the agency advises that anything greater than 300 would trigger a health warning of "emergency conditions," with the entire population likely affected.

While some people vowed to stay indoors with air purifiers turned on, Beijing's streets were still fairly busy Sunday, and there was the familiar sight of heavy traffic on main thoroughfares.

A young couple strolled along hand in hand in the central business district, both with matching white masks strung around their faces. Two Taiwanese tourists wore masks they said they had brought with them because they heard Beijing's pollution was so bad.

"I don't know why there is such heavy haze these past days. It's really quite serious compared with the air quality three days ago," said a 33-year-old lawyer, who would give only his surname, Liu, as he adjusted his own mask. He said he had ventured out only because he needed to go shopping.

Beijing's air started to worsen on Thursday. The Beijing monitoring center has said the pollution is expected to linger until Tuesday.

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Poisoned Lottery Winner's Kin Were Suspicious

Urooj Khan had just brought home his $425,000 lottery check when he unexpectedly died the following day. Now, certain members of Khan's family are speaking publicly about the mystery -- and his nephew told ABC News they knew something was not right.

"He was a healthy guy, you know?" said the nephew, Minhaj Khan. "He worked so hard. He was always going about his business and, the thing is: After he won the lottery and the next day later he passes away -- it's awkward. It raises some eyebrows."

The medical examiner initially ruled Urooj Khan, 46, an immigrant from India who owned dry-cleaning businesses in Chicago, died July 20, 2012, of natural causes. But after a family member demanded more tests, authorities in November found a lethal amount of cyanide in his blood, turning the case into a homicide investigation.

"When we found out there was cyanide in his blood after the extensive toxicology reports, we had to believe that ... somebody had to kill him," Minhaj Khan said. "It had to happen, because where can you get cyanide?"

In Photos: Biggest Lotto Jackpot Winners

Authorities could be one step closer to learning what happened to Urooj Khan. A judge Friday approved an order to exhume his body at Rosehill Cemetery in Chicago as early as Thursday to perform further tests.

Lottery Winner Murdered: Widow Questioned By Police Watch Video

Moments after the court hearing, Urooj Khan's sister, Meraj Khan, remembered her brother as the kind of person who would've shared his jackpot with anyone. Speaking at the Cook County Courthouse, she hoped the exhumation would help the investigation.

"It's very hard because I wanted my brother to rest in peace, but then we have to have justice served," she said, according to ABC News station WLS in Chicago. "So if that's what it takes for him to bring justice and peace, then that's what needs to be done."

Khan reportedly did not have a will. With the investigation moving forward, his family is waging a legal fight against his widow, Shabana Ansari, 32, over more than $1 million, including Urooj Khan's lottery winnings, as well as his business and real estate holdings.

Khan's brother filed a petition Wednesday to a judge asking Citibank to release information about Khan's assets to "ultimately ensure" that [Khan's] minor daughter from a prior marriage "receives her proper share."

Ansari may have tried to cash the jackpot check after Khan's death, according to court documents, which also showed Urooj Khan's family is questioning if the couple was ever even legally married.

Ansari, Urooj Khan's second wife, who still works at the couple's dry cleaning business, has insisted they were married legally.

She has told reporters the night before her husband died, she cooked a traditional Indian meal for him and their family, including Khan's daughter and Ansari's father. Not feeling well, Khan retired early, Ansari told the Chicago Sun-Times, falling asleep in a chair, waking up in agony, then collapsing in the middle of the night. She said she called 911.

"It has been an incredibly hard time," she told ABC News earlier this week. "We went from being the happiest the day we got the check. It was the best sleep I've had. And then the next day, everything was gone.

"I am cooperating with the investigation," Ansari told ABC News. "I want the truth to come out."

Ansari has not been named a suspect, but her attorney, Steven Kozicki, said investigators did question her for more than four hours.

Read More..

Saudi execution: Brutal and illegal?

STORY HIGHLIGHTS

• Saudi authorities beheaded Rizana Nafeek, a Sri Lankan woman


• She was convicted of killing a baby of the family employing her as a housemaid


• This was despite Nafeek's claims that the baby died in a choking accident


• Becker says her fate "should spotlight the precarious existence of domestic workers"

Jo Becker is the Children's Rights Advocacy Director for Human Rights Watch and author of 'Campaigning for Justice: Human Rights Advocacy in Practice.' Follow Jo Becker on Twitter.

(CNN) -- Rizana Nafeek was a child herself -- 17 years old, according to her birth certificate -- when a four-month-old baby died in her care in Saudi Arabia. She had migrated from Sri Lanka only weeks earlier to be a domestic worker for a Saudi family.

Although Rizana said the baby died in a choking accident, Saudi courts convicted her of murder and sentenced her to death. On Wednesday, the Saudi government carried out the sentence in a gruesome fashion, by beheading Rizana.

Jo Becker

Read more: Outrage over beheading of Sri Lankan woman by Saudi Arabia

Rizana's case was rife with problems from the beginning. A recruitment agency in Sri Lanka knew she was legally too young to migrate, but she had falsified papers to say she was 23. After the baby died, Rizana gave a confession that she said was made under duress -- she later retracted it. She had no lawyer to defend her until after she was sentenced to death and no competent interpreter during her trial. Her sentence violated international law, which prohibits the death penalty for crimes committed before age 18.

Rizana's fate should arouse international outrage. But it should also spotlight the precarious existence of other domestic workers. At least 1.5 million work in Saudi Arabia alone and more than 50 million -- mainly women and girls -- are employed worldwide according to the International Labour Organization (ILO).

Read more: Indonesian maid escapes execution in Saudi Arabia

Again according to the ILO, the number of domestic workers worldwide has grown by more than 50% since the mid-1990s. Many, like Rizana, seek employment in foreign countries where they may be unfamiliar with the language and legal system and have few rights.

When Rizana traveled to Saudi Arabia, for example, she may not have known that many Saudi employers confiscate domestic workers' passports and confine them inside their home, cutting them off from the outside world and sources of help.

It is unlikely that anyone ever told her about Saudi Arabia's flawed criminal justice system or that while many domestic workers find kind employers who treat them well, others are forced to work for months or even years without pay and subjected to physical or sexual abuse.

Passport photo of Rizana Nafeek

Read more: Saudi woman beheaded for 'witchcraft and sorcery'

Conditions for migrant domestic workers in Saudi Arabia are among some of the worst, but domestic workers in other countries rarely enjoy the same rights as other workers. In a new report this week, the International Labour Organization says that nearly 30% of the world's domestic workers are completely excluded from national labor laws. They typically earn only 40% of the average wage of other workers. Forty-five percent aren't even entitled by law to a weekly day off.

Last year, I interviewed young girls in Morocco who worked 12 hours a day, 7 days a week for a fraction of the minimum wage. One girl began working at age 12 and told me: "I don't mind working, but to be beaten and not to have enough food, this is the hardest part."

Many governments have finally begun to recognize the risks and exploitation domestic workers face. During 2012, dozens of countries took action to strengthen protections for domestic workers. Thailand, and Singapore approved measures to give domestic workers a weekly day off, while Venezuela and the Philippines adopted broad laws for domestic workers ensuring a minimum wage, paid holidays, and limits to their working hours. Brazil is amending its constitution to state that domestic workers have all the same rights as other workers. Bahrain codified access to mediation of labor disputes.

Read more: Convicted killer beheaded, put on display in Saudi Arabia

Perhaps most significantly, eight countries acted in 2012 to ratify -- and therefore be legally bound by -- the Domestic Workers Convention, with more poised to follow suit this year. The convention is a groundbreaking treaty adopted in 2011 to guarantee domestic workers the same protections available to other workers, including weekly days off, effective complaints procedures and protection from violence.

The Convention also has specific protections for domestic workers under the age of 18 and provisions for regulating and monitoring recruitment agencies. All governments should ratify the convention.

Many reforms are needed to prevent another tragic case like that of Rizana Nafeek. The obvious one is for Saudi Arabia to stop its use of the death penalty and end its outlier status as one of only three countries worldwide to execute people for crimes committed while a child.

Labor reforms are also critically important. They may have prevented the recruitment of a 17 year old for migration abroad in the first place. And they can protect millions of other domestic workers who labor with precariously few guarantees for their safety and rights.

Read more: Malala, others on front lines in fight for women

The opinions expressed in this commentary are solely those of Jo Becker.

Read More..

Football: Spurs draw a blank as QPR inch towards safety

LONDON - Tottenham Hotspur failed to tighten their grip on third place in the Premier League on Saturday after being held to a 0-0 draw at Queens Park Rangers, who moved off the foot of the table.

The game at Loftus Road marked Emmanuel Adebayor's last game for Spurs before he joins up with the Togo squad at the Africa Cup of Nations, while Ryan Nelsen played for the hosts despite having this week agreed to become player-coach of Major League Soccer club FC Toronto.

Spurs striker Jermain Defoe came closest to opening the scoring in the first half with a dipping 20-yard strike that crashed back off the post, with QPR goalkeeper Julio Cesar reacting brilliantly to save Adebayor's follow-up.

The hosts' best chances both fell to Shaun Wright-Phillips, but he could not find the target on either occasion.

Julio Cesar also thwarted Defoe in the second period, while Tottenham full-back Kyle Walker whipped a free-kick inches over the crossbar.

Following the shock 1-0 win at Chelsea in their previous outing, QPR have clawed themselves above Reading and are now four points from safety with 16 games to play.

Chelsea will hope to capitalise on the points dropped by Spurs later on Saturday when they visit Stoke City, where victory will take them above Andre Villas-Boas' side into third place.

Everton, meanwhile, can close to within a point of Tottenham if they win at home to Swansea City, who stunned Chelsea 2-0 in the away leg of their League Cup semi-final at Stamford Bridge on Wednesday.

The top two are both in action on Sunday, with leaders Manchester United hosting Liverpool and second-place Manchester City visiting Arsenal.

Elsewhere on Saturday, two teams hovering nervously above the relegation zone, Aston Villa and Southampton, meet at Villa Park.

Reading welcome West Bromwich Albion to the Madejski Stadium, Newcastle United visit Norwich City, Sunderland are at home to West Ham United and third from bottom Wigan are away at Fulham.

- AFP/ir

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How the holidays gave you the flu

STORY HIGHLIGHTS

• David Zich: This flu season definitely ranks as one of the worst I've seen


• Zich: This outbreak is worse than average due to, more than anything, poor timing


• He says the holiday period was the perfect storm for the spread of influenza


• Zich: The peak onset of the flu coincided with a time when our immunity was down

Editor's note: David Zich, an internist and emergency physician at Northwestern Memorial Hospital, is an assistant professor of medicine at Feinberg School of Medicine at Northwestern University.

(CNN) -- I started to see influenza-like illnesses starting roughly around mid-December, and within a week knew that 2013 was going to be a bad year. In my 12 years of practice in Chicago, this flu season definitely ranks as one of the worst I've seen. However, I also see no reason to be alarmed that we have a public health threat. What we are dealing with is a well-known virus. This outbreak is worse than average due to, more than anything, poor timing.

There are three main factors to consider in evaluating the intense flu activity across the country.

One is the virus itself. Both the medical community and the general public alike worry someday we will encounter a "superbug." We fear a virus that is extremely potent at causing disease, replicating, resisting our treatment and killing the host. Though the predominant strain this year may be slightly more potent than average based on the number of cases we are seeing, there is no indication that this virus is markedly different from what we've seen in other years.

David Zich

Opinion: Next time, get vaccinated earlier

The percentage of influenza-related deaths is not higher than in previous outbreaks. The CDC also has found no viral strains this season that are resistant to neuraminidase inhibitors, the drugs that we use to treat patients once they develop the flu. So, we need not worry too much about the virus.

The second factor to consider is the effectiveness of the flu shot. This year's flu vaccine is well matched to the strains of flu that have been circulating. According to the CDC, more than 90% of the identified viral types are covered by the current vaccine. In other words, we cannot blame an ineffective vaccine for the bad outbreak.

Finally, we need to look at environmental factors. The unusually warm weather this winter should not be contributing to the severity of the outbreak. Why? Because last year, it was also unusually warm, and at the time we hypothesized the weather was partly responsible for a milder than normal flu season. Clearly, warm weather can't both enhance and suppress the spread of influenza. Instead, we must focus on what's different from previous years.

Unlike last year, when the flu showed up late, this flu season came early. Most importantly, the peak incidence of illness happened to coincide almost exactly with the onset of the holiday season, which is critical to take into account.

If someone were trying to develop a way to disseminate an illness, he would first devise a way to weaken the population's immune system, and then bring people together to spread the disease. In essence, that is what the holiday season does.

Because of holiday preparations and parties, people tolerate less sleep. Stress around the holidays generally goes up. Combine those with poor eating habits and overindulgences that are typical in festive times, and the immune system gets weakened.

Once a person contracts the flu virus, he or she is contagious approximately 12 to 24 hours before the peak onset of symptoms, and is often contagious up to 24 hours after resolution of fever. During this very social time of year, many of these sick people are either tolerating their symptoms to join big groups of friends or family, or coming together honestly unaware that they are contagious. As a result, we have the perfect storm for the spread of influenza.

In sum, our flu season this year is simply a product of poor timing.

The peak onset of the flu just happened to coincide with a period when we have weakened our immune system and congregated in large gatherings to, among other things, disseminate disease. There is no supervirus. The flu strains have been well anticipated and carry no resistance to our treatment. We have no reason to panic.

I recommend that everyone de-stress from the holiday stresses, wash their hands, eat healthy, exercise and get plenty of sleep. Stay home if you are sick. And in good time, this too shall pass.

Follow us on Twitter @CNNOpinion

Join us on Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of David Zich.

Read More..

Fischer: Entitlement cuts require "political courage"

Freshman Sen. Deb Fischer, R-Neb., called for "political courage" in tackling entitlement reform in today's weekly GOP address, saying that without "making these hard decisions, America will never rein in spending or achieve a balanced budget."

"It's no secret that to cut spending, we must find ways to reduce the costs of Social Security, Medicare, and Medicaid - the primary drivers of our national debt," Fischer said. Although she cautioned that we must keep our promises to those in or nearing retirement, she added, "In order to save these popular programs, we must reform them. If not, they will no longer exist for future generations and will bankrupt us in the meantime."

While Fischer touts entitlement cuts as a necessary dose of fiscal medicine, she does not feel the same about the defense cuts included in the so-called sequester. "The Constitution clearly states that the top priority for Congress is to 'provide for the common defense.' Despite this core duty, nearly a trillion dollars in critical national security funding is slated to be dangerously cut from the defense budget over the next decade," Fischer said, "all because some leaders in Washington can't get their priorities straight.

Fischer also addressed the looming fight over raising the debt ceiling, promising to use the borrowing limit to extract spending cuts: "The President will soon ask Congress to raise the nation's debt limit--again. I believe we cannot agree to increase the borrowing limit without addressing our out-of-control spending."

And the Nebraska Republican also echoed GOP leaders in trying to eliminate taxes from the deficit reduction debate, saying, "The debate over taxes and revenues is done. Tax increases barely pay for a few days of government spending and in all my years of public service, I have never had constituents ask me to raise their taxes."

Meanwhile, President Obama used his weekly address to discuss the changing American role in Afghanistan, reiterating much of what he said at Friday's joint press conference with Afghan President Hamid Karzai.

"Over the past four years, thanks to our brave men and women in uniform, we've dealt devastating blows to al Qaeda. We've pushed the Taliban out of their strongholds," Mr. Obama said. "And our core objective - the reason we went to Afghanistan in the first place - is now within reach: ensuring that al Qaeda can never again use Afghanistan to launch attacks against America."

"This week, we agreed that this spring, Afghan forces will take the lead for security across the country, and our troops will shift to a support role," he said. "And by the end of next year, America's war in Afghanistan will be over."

"After more than a decade of war," the president explained, "the nation we need to rebuild is our own."

Read More..

Poisoned Lottery Winner's Kin Were Suspicious

Urooj Khan had just brought home his $425,000 lottery check when he unexpectedly died the following day. Now, certain members of Khan's family are speaking publicly about the mystery -- and his nephew told ABC News they knew something was not right.

"He was a healthy guy, you know?" said the nephew, Minhaj Khan said. "He worked so hard. He was always going about his business and, the thing is: After he won the lottery and the next day later he passes away -- it's awkward. It raises some eyebrows."

The medical examiner initially ruled Urooj Khan, 46, an immigrant from India who owned dry-cleaning businesses in Chicago, died July 20, 2012, of natural causes. But after a family member demanded more tests, authorities in November found a lethal amount of cyanide in his blood, turning the case into a homicide investigation.

"When we found out there was cyanide in his blood after the extensive toxicology reports, we had to believe that ... somebody had to kill him," Minhaj Khan said. "It had to happen, because where can you get cyanide?"

In Photos: Biggest Lotto Jackpot Winners

Authorities could be one step closer to learning what happened to Urooj Khan. A judge Friday approved an order to exhume his body at Rosehill Cemetery in Chicago as early as Thursday to perform further tests.

Lottery Winner Murdered: Widow Questioned By Police Watch Video

Moments after the court hearing, Urooj Khan's sister, Meraj Khan, remembered her brother as the kind of person who would've shared his jackpot with anyone. Speaking at the Cook County Courthouse, she hoped the exhumation would help the investigation.

"It's very hard because I wanted my brother to rest in peace, but then we have to have justice served," she said, according to ABC News station WLS in Chicago. "So if that's what it takes for him to bring justice and peace, then that's what needs to be done."

Khan reportedly did not have a will. With the investigation moving forward, his family is waging a legal fight against his widow, Shabana Ansari, 32, over more than $1 million, including Urooj Khan's lottery winnings, as well as his business and real estate holdings.

Khan's brother filed a petition Wednesday to a judge asking Citibank to release information about Khan's assets to "ultimately ensure" that [Khan's] minor daughter from a prior marriage "receives her proper share."

Ansari may have tried to cash the jackpot check after Khan's death, according to court documents, which also showed Urooj Khan's family is questioning if the couple was ever even legally married.

Ansari, Urooj Khan's second wife, who still works at the couple's dry cleaning business, has insisted they were married legally.

She has told reporters the night before her husband died, she cooked a traditional Indian meal for him and their family, including Khan's daughter and Ansari's father. Not feeling well, Khan retired early, Ansari told the Chicago Sun-Times, falling asleep in a chair, waking up in agony, then collapsing in the middle of the night. She said she called 911.

"It has been an incredibly hard time," she told ABC News earlier this week. "We went from being the happiest the day we got the check. It was the best sleep I've had. And then the next day, everything was gone.

"I am cooperating with the investigation," Ansari told ABC News. "I want the truth to come out."

Ansari has not been named a suspect, but her attorney, Steven Kozicki, said investigators did question her for more than four hours.

Read More..

Why global labor reforms are vital

STORY HIGHLIGHTS

• Saudi authorities beheaded Rizana Nafeek, a Sri Lankan woman


• She was convicted of killing a baby of the family employing her as a housemaid


• This was despite Nafeek's claims that the baby died in a choking accident


• Becker says her fate "should spotlight the precarious existence of domestic workers"

Jo Becker is the Children's Rights Advocacy Director for Human Rights Watch and author of 'Campaigning for Justice: Human Rights Advocacy in Practice.' Follow Jo Becker on Twitter.

(CNN) -- Rizana Nafeek was a child herself -- 17 years old, according to her birth certificate -- when a four-month-old baby died in her care in Saudi Arabia. She had migrated from Sri Lanka only weeks earlier to be a domestic worker for a Saudi family.

Although Rizana said the baby died in a choking accident, Saudi courts convicted her of murder and sentenced her to death. On Wednesday, the Saudi government carried out the sentence in a gruesome fashion, by beheading Rizana.

Jo Becker

Read more: Outrage over beheading of Sri Lankan woman by Saudi Arabia

Rizana's case was rife with problems from the beginning. A recruitment agency in Sri Lanka knew she was legally too young to migrate, but she had falsified papers to say she was 23. After the baby died, Rizana gave a confession that she said was made under duress -- she later retracted it. She had no lawyer to defend her until after she was sentenced to death and no competent interpreter during her trial. Her sentence violated international law, which prohibits the death penalty for crimes committed before age 18.

Rizana's fate should arouse international outrage. But it should also spotlight the precarious existence of other domestic workers. At least 1.5 million work in Saudi Arabia alone and more than 50 million -- mainly women and girls -- are employed worldwide according to the International Labour Organization (ILO).

Read more: Indonesian maid escapes execution in Saudi Arabia

Again according to the ILO, the number of domestic workers worldwide has grown by more than 50% since the mid-1990s. Many, like Rizana, seek employment in foreign countries where they may be unfamiliar with the language and legal system and have few rights.

When Rizana traveled to Saudi Arabia, for example, she may not have known that many Saudi employers confiscate domestic workers' passports and confine them inside their home, cutting them off from the outside world and sources of help.

It is unlikely that anyone ever told her about Saudi Arabia's flawed criminal justice system or that while many domestic workers find kind employers who treat them well, others are forced to work for months or even years without pay and subjected to physical or sexual abuse.

Passport photo of Rizana Nafeek

Read more: Saudi woman beheaded for 'witchcraft and sorcery'

Conditions for migrant domestic workers in Saudi Arabia are among some of the worst, but domestic workers in other countries rarely enjoy the same rights as other workers. In a new report this week, the International Labour Organization says that nearly 30% of the world's domestic workers are completely excluded from national labor laws. They typically earn only 40% of the average wage of other workers. Forty-five percent aren't even entitled by law to a weekly day off.

Last year, I interviewed young girls in Morocco who worked 12 hours a day, 7 days a week for a fraction of the minimum wage. One girl began working at age 12 and told me: "I don't mind working, but to be beaten and not to have enough food, this is the hardest part."

Many governments have finally begun to recognize the risks and exploitation domestic workers face. During 2012, dozens of countries took action to strengthen protections for domestic workers. Thailand, and Singapore approved measures to give domestic workers a weekly day off, while Venezuela and the Philippines adopted broad laws for domestic workers ensuring a minimum wage, paid holidays, and limits to their working hours. Brazil is amending its constitution to state that domestic workers have all the same rights as other workers. Bahrain codified access to mediation of labor disputes.

Read more: Convicted killer beheaded, put on display in Saudi Arabia

Perhaps most significantly, eight countries acted in 2012 to ratify -- and therefore be legally bound by -- the Domestic Workers Convention, with more poised to follow suit this year. The convention is a groundbreaking treaty adopted in 2011 to guarantee domestic workers the same protections available to other workers, including weekly days off, effective complaints procedures and protection from violence.

The Convention also has specific protections for domestic workers under the age of 18 and provisions for regulating and monitoring recruitment agencies. All governments should ratify the convention.

Many reforms are needed to prevent another tragic case like that of Rizana Nafeek. The obvious one is for Saudi Arabia to stop its use of the death penalty and end its outlier status as one of only three countries worldwide to execute people for crimes committed while a child.

Labor reforms are also critically important. They may have prevented the recruitment of a 17 year old for migration abroad in the first place. And they can protect millions of other domestic workers who labor with precariously few guarantees for their safety and rights.

Read more: Malala, others on front lines in fight for women

The opinions expressed in this commentary are solely those of Jo Becker.

Read More..

Chinese shipping companies switching to RMB for transactions

SINGAPORE: More Chinese shipping companies are asking for renminbi (RMB) to be used as the settlement currency for shipping freight rates.

The shipping sector is seeing growing usage of the Chinese currency.

To help Chinese shippers manage their exposure, major shipping broker, Freight Investor Services, has even launched a freight derivative in Chinese Yuan last month.

A forward freight agreement (FFA) allows ship owners, charterers and speculators to hedge against the volatility of freight rates.

It gives contract owners the right to buy and sell the price of freight for future dates.

FFAs are built on an index composed of a shipping route for tanker (ship) or a basket of routes for dry bulk, contracts are traded "over the counter" on a principal-to-principal basis and can be cleared through a clearing house.

International settlements in renminbi have been on the rise.

Beijing has been promoting the wider use of its currency globally through bilateral currency swaps and trade settlement deals.

Global transaction services organisation SWIFT noted a 24 per cent surge in yuan settlement in November 2012 as compared to a month before.

Shipowners like First Ship Lease Trust Management said it is a natural development for charter rates to shift from US dollars to renminbi as a significant volume of goods being transported is also priced in Chinese Yuan.

Guy Broadley, director at Freight Investor Services said: "China's involvement in the commodity story over the last 10 years is obviously been very great... last year, China's dry bulk commodity imports were equivalent to about 44 per cent of global seaborne trade. We feel that it is important for Chinese traders to be able to hedge that price risk by having a RMB-denominated contract."

But shipping analysts believe this trend is limited to small and medium-sized Chinese shipping companies, which transact the bulk of their trades domestically.

Jayendu Krishna, senior manager at Drewry said: "China has a lot of restrictions in terms of foreign currencies and because of the restrictions they are not really able to trade in what exists today is the US-denominated transactions. So, with the introduction of this RMB-denominated FFA, probably more Chinese players will be interested because they are able to hedge against the risk of the freight volatility."

Currently, most shipping chartering is settled in US dollars.

Shekaran Krishnan, partner at Ernst & Young said: "It would make a lot of sense for them to have the revenue which is the freight revenue in local RMB because it is a natural arbitrage against the cost they have to pay locally and if they have it in local currency, they can avoid the currency fluctuation that they are exposed to."

Given the limited supply of the Chinese yuan, analysts do not see the renminbi replacing the US dollar anytime soon, as the shipping industry is still very much a US dollar-dominated business.

- CNA/xq

Read More..

Fonda, Steinem: Let woman head FCC

STORY HIGHLIGHTS

• Jane Fonda, Glora Steinem, Robin Morgan: Obama short on women appointees


• They say women helped him win, he must show he sees them as leaders, not just voters


• They say media companies shape attitudes. He should name women to head FCC, FTC


• Writers: Media is run largely by men. Time to close the gender gap in U.S. media leadership

Editor's note: Jane Fonda, Robin Morgan and Gloria Steinem are the co-founders of the Women's Media Center.

(CNN) -- First, the good news. News organizations -- including CNN, The New York Times, The Washington Post and Bloomberg -- are asking: Where are the women? They've noticed that President Obama's nominees for his national security team and Cabinet, including Secretary of State, Defense, Treasury, and Director of the CIA, have excluded the talent of potential female appointees.

As co-founders of the Women's Media Center, whose purpose is to make women more visible and powerful in the media, we want to say thank you for noticing.

Jane Fonda

Robin Morgan

Gloria Steinem

Now, the bad news. President Obama isn't answering. He wouldn't have been re-elected without 55 percent of the women's vote, something he earned by representing women's majority views on issues, yet now he seems to be ignoring women's ability to be not only voters, but leaders.

Fortunately, there are still possibilities. A second-term President Obama still has time to demonstrate his commitment to equality in a different but equally important area of the federal government, the agencies that have oversight of the media and telecom industries.

Media companies have some of the most powerful resources at their disposal in shaping attitudes and culture. But media culture, from our TV shows to advertising, is often deeply sexist and normalizes roles that limit everyone. There is a powerful "bully pulpit" effect to having women at the head of these agencies.

Four important agencies regulating media include the Federal Communications Commission, the Federal Trade Commission, the U.S. Department of Justice's Antitrust Division and the Commerce Department's National Telecommunications and Information Administration. One slot has already been filled by a man. On January 3, William J. Baer was sworn in as assistant attorney general for the Antitrust Division.

Erin Burnett: White men to fill Obama's cabinet

That could leave three. We say "could" because it's not yet 100% clear that the heads of the FTC or FCC will be stepping down, though top appointees do shift around in a president's second term. For instance, there has already been speculation that Lawrence E. Strickling, assistant secretary for communications and information, which manages the National Telecommunications and Information Administration, is in the running for FCC chair. Why not an equally logical woman's name?

Karen Kornbluh, who has just returned from serving as U.S. ambassador to the Organisation for Economic Cooperation and Development, was one of six women called qualified by the National Journal. Others named as possible FCC chairs were FCC Commissioners Mignon Clyburn and Jessica Rosenworcel, Clinton administration FCC executives Susan Ness and Cathy Sandoval and Obama adviser and communications expert Susan Crawford.

We're glad to say there has been one black FCC chair, William Kennard, and he made a top priority of closing the digital divide for African-Americans and for Americans with disabilities. It's unfortunate that there has been only one, though we live in a diverse country in which white Americans are about to become the minority. Never in the 80 years of the FCC has a woman of any race or group been its chair, though women have been the nation's majority for a long time.

Then there's the Federal Trade Commission, which has broad oversight over everything from price fixing at the gas pump to whether Google is a monopoly. It includes the Bureau of Consumer Protection, which monitors false and deceptive advertising. Women still have most of the purchasing power in households. According to GfK MRI's Spring 2011 Survey of the American Consumer, 75% of women are the primary shoppers for all household products. Women are more likely to have the expertise for such decisions in the interest of consumers and also to be affected by those decisions.

As we step into 2013, America's media are still largely run by men. Women hold only 6% of all TV and radio station licenses. It's long past the time to close the gender gap in our nation's leadership and in the media and telecom industries' leadership especially, where in 2011 only 28.4% of TV news directors were women, according to the Women's Media Center's 2012 Status of Women in the U.S. Media report.

We thought President Obama wanted women in his inner circle. Right now, the makeup of that inner circle looks nothing like the country.

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The opinions expressed in this commentary are solely those of Jane Fonda, Robin Morgan and Gloria Steinem.

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