Page 3 - Financial Tribune No 638

LATEST NEWS Pakistan Ready Pakistan has once again offered India for a dialogue on all issues, including of Asia meeting and, by coming here, we are showing our commitment to the Sanders Slams Trump Tweet
to Talk With India terrorism, within the framework of a comprehensive dialogue agreed upon on importance of Heart of Asia for Afghanistan’s peace and security.” He added,
the sidelines of last year’s Heart of Asia conference. In an interview with an Indian “If India shows any interest, I would certainly like to meet. I don’t think we need to President-elect Donald Trump drew a rebuke from former
newspaper on the eve of the conference, Adviser to Pakistan’s Prime Minister request for a meeting. We are here, so we will see how it goes.” An Indian official Democratic presidential candidate, Bernie Sanders, on Saturday,
on Foreign Affairs Sartaj Aziz said, “Whenever India is ready, we will be ready. said there is no possibility of a bilateral India-Pakistan meeting on the sidelines of after turning his attention to another Indiana company planning a
Terrorism is a subject under the comprehensive dialogue; when we meet, we can the confab. However, Indian National Security Advisor Ajit Doval met Sartaj Aziz move to Mexico.
discuss that also,” The News International reported. “I am here to attend the Heart and they talked for over half an hour, an Indian news channel reported.
“Rexnord of Indiana is moving to Mexico and rather viciously
3 firing all of its 300 workers. This is happening all over our country.
IRANIAN ECONOMIC DAILY www.financialtribune.com/international DECEMBER 5, 2016 No more!” Trump said in a Friday night Twitter post.

Rexnord Corp, an industrial supplier based in Milwaukee,
announced plans in October to move a bearing plant, and its
300 jobs, from Indianapolis to Mexico, employees told the
Indianapolis Star at the time.

Italy Heads for Referendum

Italian voters to decide between the political establishment and rising populist
forces in a referendum that could see the current PM resign

A woman wears a mask of Italian Premier Matteo Renzi as she holds up a sign reading “Yes” during a rally in Florence, Italy, on Dec. 2. praised fascist dictator Benito Mussolini, has said approving the President-elect Donald Trump
reforms could open the door to dictatorship in Italy.
Italians are heading to the polls to vote on a referendum results are on a knife’s edge,” The Guardian quoted Renzi as Later, Reuters reported that the company representatives
that is seen as a test of rising populist forces in the country saying in his last campaign rally on Friday night. In polls leading up to the vote on Sunday before a national have declined to comment on Trump’s tweet.
against the political establishment, in a contest that could polling blackout, Renzi’s “yes” campaign lagged about five
end in the resignation of center-left Prime Minister, Matteo After taking office with hopes of enacting change, the points behind the “no” campaign, with about a quarter of Italian The Republican, who takes office on Jan. 20, warned on
Renzi. PM has failed to gain the trust of voters who see politics as a voters undecided on the referendum. Thursday of consequences for companies that move jobs out of
scapegoat. the United States but did not specify what they would be.
Voters are deciding whether or not to approve sweeping On Friday, it was reported that 40% of eligible Italians
changes to Italy’s Constitution and parliamentary system; Opposition to the reform has been led by Italy’s second abroad cast ballots in the referendum, a voting bloc that in Trump, who campaigned on promises to keep manufacturing
reforms that Renzi has argued would increase political stability most popular party, the anti-establishment Five Star Movement, recent elections has favored Democrats and could prove to be jobs from fleeing the country, claimed credit for a deal in which
and give the government more flexibility to tackle enduring which has attacked the changes as a power grab by the ruling decisive in a close contest. Indiana state officials agreed to give United Technologies Corp
economic problems. Democratic party. $7 million worth of tax breaks to encourage the company to keep
If no one wins the race, as polls have predicted, Renzi has around 1,000 jobs at its Carrier unit in Indianapolis instead of
“In 48 hours, we are playing for the next 20 years. The Another opponent, former premier Silvio Berlusconi, the vowed to resign. It is not yet clear what might happen if Renzi hiring in Mexico.
leader of the center-right Forza Italia party who in the past has does step down, but the next steps would be determined by
Italy’s relatively new president, Sergio Mattarella, who could The agreement was less than a complete victory for Trump,
cobble together a new government and install a new prime as the air-conditioner maker will still send an estimated 1,300
minister, such as Pier Carlo Padoan, who currently serves as jobs there.
finance minister.
The deal does nothing to prevent other employers from
But there are already signs that Mattarella would come shipping work out of state and has been criticized by Democrats
under intense pressure by the Five Star Movement and the and Republicans alike who call it corporate welfare.
rightwing Northern League to immediately call a new election in
the event of a no win. Sanders, who attacked US trade policy in his race against
Hillary Clinton for the Democratic presidential nomination, said
If Renzi ekes out a victory, the news would likely be Trump’s deal with Carrier set a “very dangerous precedent” of
celebrated by the markets and would be seen as a defeat of having taxpayers subsidize multibillion dollar corporations to “beg
rising populist sentiment. them” to keep jobs in the country.

Italy has been depicted as the latest possible domino On Saturday, he challenged Trump over his Rexnord tweet.
to fall, following the UK’s vote to leave the EU and the “What are you going to do, @realDonaldTrump? Stand up
election of Donald Trump, but some analysts say the for working people or give the company a massive tax break?”
comparisons have been overblown, especially concerns Sanders tweeted in response to Trump’s post.
that it could lead to a referendum on the euro or even Sanders supports tougher policies on corporations for
Italy’s exit from the EU. outsourcing.
During the presidential campaign, Trump said his
Wolfango Piccoli, an analyst at Teneo Intelligence in administration would put a 35% import tariff on goods made
London, said Italy was on track to make changes to some of by American manufacturers that moved jobs offshore. He
its election rules that would probably hamper the M5S in the frequently pilloried Carrier for planning to move production to
future, no matter what the outcome of the referendum is. Mexico as he appealed to blue-collar voters in the Midwest,
including in Indiana, whose governor, Mike Pence, is the vice
“The M5S is [also] unwilling to govern as part of a coalition president-elect.
given its fiercely independent stance. In other words, It is unclear what steps would have to be taken by federal
mainstream parties will hold on to power, but governance will authorities before Trump could retaliate against individual
suffer,” Piccoli said. companies shifting jobs abroad.

He said the legal and political threshold for a possible Corbyn: Far Right Are Parasites
“Italexit” was very high and would require votes in parliament
and a possible referendum. While Euroskepticism is on the The British Labour leader said progressive parties need to break
rise, there is no overwhelming consensus against the single away from establishment to prevent populists from filling the
currency or EU membership. political void.

Malaysian PM Tells Suu Kyi: of gang rape, torture and murder at the hands of Myanmar’s The populist right are “political parasites feeding on
Stop Genocide of Rohingya Muslims security forces. people’s concerns and worsening conditions”, Jeremy Corbyn
has told a gathering of European socialist and progressive
Malaysia’s Prime Minister Najib Razak said Myanmar leader More than 10,000 Rohingya have fled to Bangladesh in Myanmar has denied allegations of abuse, but has also parties.
Aung San Suu Kyi must step in to prevent the “genocide” of recent weeks, the United Nations said on Wednesday, escaping banned foreign journalists and independent investigators from
Rohingya Muslims in Myanmar, as he criticized the Nobel a bloody army crackdown in the north of Rakhine state. the area. In a speech in Prague, Czech Republic, the Labour leader
laureate for her inaction. said that unless progressives broke with a “failed economic
Arrivals in Bangladesh have told AFP horrifying stories Muslim-majority Malaysia has recently upped its criticism of and political establishment”, the far right would fill the gap, The
Addressing a 5,000-strong rally in Kuala Lumpur, Razak Myanmar for its handling of the crisis. Guardian reported.
said the Myanmar government must stop the bloody crackdown Malaysian Prime Minister Najib Razak (C) speaks
in its far west that has sent thousands of Rohingya fleeing, at a stadium in Kuala Lumpur, Malaysia, on Dec. 4. Last month, it summoned the Myanmar ambassador, while The populist right has been emboldened by the vote for Brexit
many with stories of rape, torture and murder. around 500 Malaysians and Rohingya marched to the embassy and the success of Donald Trump in the US, while the far-right
in the Malaysian capital carrying banners denouncing the Freedom Party is challenging the presidency in Austria this
Rappler.com quoted the premier asking the crowd, “What’s genocide. weekend and Marine le Pen’s Front National is expecting to do
the use of Aung San Suu Kyi having a Nobel Prize?” well in French elections next year.
A senior minister has called on ASEAN, the 10-country
“We want to tell Aung San Suu Kyi, enough is enough ... Southeast Asia bloc, to review Myanmar’s membership, while Corbyn told the Party of European Socialists Council that
We must and we will defend Muslims and Islam,” he said as a strongly-worded statement from the foreign ministry on while the populist right had identified many of the correct
supporters chanted “Allahu Akbar” (“God is great”). Saturday accused Myanmar of engaging in “ethnic cleansing”. problems at a time of growing insecurity and declining living
standards, but the solutions offered were “toxic dead-ends” of
He also demanded that the Organization of Islamic But analysts said on Sunday the issue is a convenient the past.
Cooperation take action. smokescreen for Najib who is fighting allegations he took part in
embezzling billions of dollars of public cash through state fund British Labour leader Jeremy Corbyn
“Please do something. The UN, do something. The world 1MDB. Both he and the fund deny any wrongdoing.
cannot sit and watch genocide taking place,” said Najib. “They are political parasites feeding on people’s concerns
James Chin, director of the Asia Institute at the University of and worsening conditions, blaming the most vulnerable
Tasmania, told AFP that Najib “is there (at the rally) to boost his for society’s ills instead of offering a way for taking back
standing as an Islamic leader”, with a general election looming. real control of our lives from the elites who serve their own
interests,” he said.
Russia, Japan to Resolve Island Dispute Head of IS Branch in N. Caucasus Killed
“But unless progressive parties and movements break with a
Russian Foreign Minister Sergei Lavrov said countries’ relations this year. A Dagestan-based militant leader who organizers of the terrorist attack on failed economic and political establishment, it is the siren voices
on Saturday ahead of a visit to Japan by The row dates from the end of World swore allegiance to the self-styled Islamic Volgograd’s train station on December 29, of the populist far right who will fill that gap.”
President Vladimir Putin that the countries’ State terrorist group was picked as “emir” 2013, which killed 18 people and left dozens
leaders are pushing to end a territorial row War II when Soviet troops seized the by IS chief Abu Bakr al-Baghdadi and was injured after a suicide bomber blew herself The Labour leader said economic conditions had proved
dating back to World War II. southernmost islands in an archipelago off linked to terrorist acts in Russia’s Volgograd, up at the station’s entrance. Another suicide fertile ground for the populist right to exploit.
the northeast coast of Hokkaido just after has been eliminated, Federal Security bomber targeted civilians in a Volgograd
Relations between Moscow and Tokyo Japan surrendered. Service said. trolleybus on December 30, killing 16 people “We know the gap between rich and poor is widening; we
have been strained for decades over the and injuring 25 others. know living standards are stagnating or falling and insecurity is
status of four Pacific islands near Japan’s The seven-decade dispute over the “Rustan Magomedovich Aselderov (Abu growing; we know that many people rightly feel left behind by
north coast, known as the Southern Kurils in islands’ ownership has kept Moscow and Muhammad), born in 1981, the leader of The terrorist was also involved in the the forces unleashed by globalization—powerless in the face of
Russia and the Northern Territories in Japan. Tokyo from signing a postwar peace treaty the Vilayat Kavkaz section of the terrorist planning of a foiled attack on Moscow’s deregulated corporate power,” he said.
and hindered trade and investment. group, was among the militants eliminated Red Square, in which two female suicide
After talks with the Japanese Minister alongside four of his close associates,” FSB bombers were supposed to detonate Corbyn repeated his call for the government to guarantee
for Foreign Affairs Fumio Kishida in Russia prompted protests from Japan last said in a statement. on December 31, 2010. The plot was the rights of EU citizens living in Britain before it opened formal
Moscow, Lavrov said, “The main area month by deploying coastal missile systems to uncovered by FSB. negotiations to withdraw from the EU.
where our positions concur is the clear- boost its military presence on the islands. The terrorist cell was neutralized near
cut political striving of our leaders for a the southern Russian city of Makhachkala, Aselderov has been known to Russian He also announced he was inviting leaders of socialist and
mutually acceptable resolution,” The News “On the question of the peace treaty, the capital of the Republic of Dagestan, law enforcement as an active member of progressive parties to a conference in London to discuss the best
International reported. we would like to reach a result that would Russia Today reported on Saturday. Dagestan terrorist cells since 2007. In 2012, outcomes for both Britain and the remaining EU.
be welcomed by the people both of Japan he became in charge of Dagestan’s unit
Japanese President Shinzo Abe is due and Russia,” Kishida said in comments Aselderov and four other terrorists were of the internationally recognized terrorist “Labour is pushing for Brexit negotiations to be carried out in a
to meet Putin on December 15 in the city of translated into Russian. found hiding out in a house in the village. organization “Imarat Kavkaz”. In 2014, he transparent manner, in a spirit that aims to find a deal that works
Yamaguchi in western Japan with the aim of After the hideout was surrounded, the police was “one of the first” to pledge allegiance for all people across our continent,” he said.
making progress on the territorial dispute. It He said he wanted “energetic talks” to started negotiations and asked the militants to IS.
will be Putin’s first such visit since 2005. “finally resolve the sovereignty of the four to surrender. In response, the terrorists
islands in a mutually acceptable form and fired automatic weapons and were killed by In late June 2015, Aselderov was
“We have an interest in resolving this conclude a peace treaty”. return fire. None of the officers taking part in appointed the head of the so-called Vilayat
protracted problem,” Lavrov said, adding the operation were injured. Kavkaz, established on the Russian territory
that “it’s clear that it’s not simple to bring the Lavrov said the diplomats “expressed by IS. Among his “duties” as an emir were
two sides’ positions closer”. mutual readiness to try to move forward in A large cache of weapons was then the planning of terrorist acts in Russia’s
resolving practical questions”. discovered in the hideout, including Northern Caucasus and in central Russia,
Kishida said the talks were “meaningful, automatic rifles, munitions and explosives. FSB said.
important and useful” ahead of a visit he He said they agreed “to continue the
called the most important event in the line that our leaders agreed on the utmost FSB said Aselderov was one of the
all-round development of our relations in all
spheres without exception”.