BCCI asks $42 million settlement from West Indies Cricket Board

BCCI

Bridgetown: The West Indies Cricket Board (WICB) will have to cough up nearly $42 million in order to stave off a lawsuit from the Board Of Control For Cricket In India (BCCI), stemming from the abandoned tour of India last month.

Indian authorities Friday told the WICB that its losses as a result of the abandoned one-day and Test tour had been estimated at $41.97 million, and gave the regional board 15 days in which to come up with a plan of compensation, reports CMC.

The BCCI had announced two weeks ago it would seek compensation from the WICB for losses sustained as a result of the cancelled tour, and followed through with formal correspondence to the Antigua-based organisation Friday.

Media rights make up the bulk of the losses with the BCCI estimating them at just over $35 million, while ticket sales account for around $2 million and the title sponsorship from Micromax estimated at $1.6 million.

The BCCI has also factored in losses in kit sponsorship from Nike, team sponsorship, in-stadia sponsorship and stadium concessionaires, in the compensation package.

“The BCCI calls upon the WICB to formally inform the BCCI, in writing, of the steps it intends to take to compensate the BCCI towards the losses quantified above as well as those losses yet to be quantified by the BCCI in relation to the cancelled WICB tour,” said the letter, signed by BCCI secretary Sanjay Patel.

“In the event the BCCI does not receive such a proposal in acceptable terms, within a period of 15 days from receipt of this letter, please note that the BCCI has peremptorily instructed its attorneys to initiate steps for recovery of the losses by filing appropriate legal proceedings against the WICB in the appropriate Indian court and you may treat this notice as a formal demand in that regard.”

Imran Khan, the WICB’s corporate communications manager, confirmed the WICB had received the BCCI letter but opted not to comment further.

In detailing its losses, the BCCI said the cancelled tour had resulted in “adverse financial ramifications” and accused the WICB of having “complete disregard” for legal commitments.

“The consequences on the BCCI of not delivering a scheduled home tour to its members, sponsors, broadcasters and the fans are multi-fold and crippling,” the BCCI letter said.

“The BCCI is faced with huge revenue losses, a loss of reputation and is at risk of losing valuable commercial partners. The consequences of cancellation of a committed home tour during the biggest festival season.

“Diwali in India is a monumental disaster for the BCCI. It is during this season that our partners derive the most value from their rights. Our broadcaster had committed to its advertisers during this season and on account of your actions, is facing a severe crisis the effects of which are felt by the BCCI.

“The BCCI holds the WICB responsible and liable for all such consequences and intends to enforce its rights to seek compensation from the WICB to the fullest extent permissible in law.”

Noting the figures outlined were “tentative and constitutes an approximation of the losses that BCCI is able to quantify at this time”, the Indian board said any other losses would be communicated to the WICB at a later date.

The BCCI also informed the WICB it was formally suspending all bilateral relations until the legal issues were resolved.

Indian authorities were furious after the West Indies players quit the tour following the fourth ODI in Dharamsala, with an ODI in Kolkata and Twenty20 in Cuttack remaining.

The three-Test tour, scheduled to bowl off Oct 30, was also scuppered.

The Windies players were protesting new playing contracts which they argued would have resulted in up to a 75 percent reduction in their earnings.

(IANS)

India ready for nuclear no-first-use agreements

United Nations

by Arul Louis

New York: Reiterating its traditional policy of not using nuclear weapons first and not targeting non-nuclear weapons nations, India has offered to enter into agreements incorporating the two principles while ruling out joining the non-proliferation treaty.

“As a responsible nuclear power India has a policy of credible minimum deterrence based on a No First Use posture and non-use of nuclear weapons against non-nuclear weapon states,” Ambassador D.B. Venkatesh Varma said Monday. “We are prepared to convert these into bilateral or multilateral legally binding arrangements.”

Varma, the Indian Permanent Representative to the Conference on Disarmament, was speaking at a meeting of the UN General Assembly Committee on Disarmament and International Peace.

While New Delhi is “unwavering in its commitment to universal, non-discriminatory, verifiable nuclear disarmament”, he said, “there is no question of India joining the NPT (Non-Proliferation Treaty) as a non-nuclear weapon state.” That would require New Delhi unilaterally giving up its nuclear weapons.

On another matter impacting the restriction of nuclear weapons, Varma offered New Delhi’s qualified support to the Fissile Material Cutoff Treaty (FMCT) negotiations.

“Without prejudice to the priority we attach to nuclear disarmament, we support the negotiation in the Conference on Disarmament of an FMCT that meets India’s national security interests,” he said.

Such a treaty would stop the making of materials that could be used in nuclear weapons.

Reintroducing a draft resolution on a Convention on the Prohibition of the Use of Nuclear Weapons, he criticised countries with nuclear weapons coverage that have repeatedly voted against the proposed measure since it was first introduced in 1982.

Varma expressed “regret that a sizeable minority of member states – some of them nuclear weapon states, some with nuclear weapons stationed on their soil and others with alliance partnerships underwritten by policies of first use of nuclear weapons – have voted against this resolution”.

And, “for reasons that are difficult to understand, some member states which are today in the forefront of efforts to highlight the humanitarian impact of use of nuclear weapons have also voted against this resolution”.

Reflecting the concern of the international community to the dangers from terrorists, Varma said India will be introducing again a draft resolution on “measures to prevent terrorists from acquiring weapons of mass destruction”.

Participating in the debate, Pakistan called for the development of an international non-proliferation system “through policies that are equitable, criteria-based and non-discriminatory”.

In what may be seen as an indirect criticism directed at India, Yasar Ammar, a third secretary in Pakistan’s UN mission, said, “There should be no exceptionalism or preferential treatment driven by motivations of power and profit.”

The US has an agreement with India on civilian cooperation in nuclear field and because New Delhi has not signed the Nuclear Nonproliferation Treaty, it required a waiver from the Nuclear Suppliers Group (NSG), an international body that deals with trade in nuclear materials and technology.

Pakistan wants a similar agreement with the US, which has been cool to it because of Islamabad’s record of transferring nuclear technology.

India has the support of the US, Russia, Britain, and France for joining the NSG. Pakistan opposes India’s membership if it is not extended to it also.

(IANS)

​The Saudi oil war against Russia, Iran and the U.S

A fisherman pulls in his net as an oil tanker is seen at the port in the northwestern city of Duba.(Reuters / Mohamed Al Hwaity)

A fisherman pulls in his net as an oil tanker is seen at the port in the northwestern city of Duba.(Reuters / Mohamed Al Hwaity)

– by Pepe Escobar, RT

Saudi Arabia has unleashed an economic war against selected oil producers. The strategy masks the House of Saud’s real agenda. But will it work?

Rosneft Vice President Mikhail Leontyev; “Prices can be manipulative…Saudi Arabia has begun making big discounts on oil. This is political manipulation, and Saudi Arabia is being manipulated, which could end badly.”

A correction is in order; the Saudis are not being manipulated. What the House of Saud is launching is“Tomahawks of spin,” insisting they’re OK with oil at $90 a barrel; also at $80 for the next two years; and even at $50 to $60 for Asian and North American clients.

The fact is Brent crude had already fallen to below $90 a barrel because China – and Asia as a whole – was already slowing down economically, although to a lesser degree compared to the West. Production, though, remained high – especially by Saudi Arabia and Kuwait – even with very little Libyan and Syrian oil on the market and with Iran forced to cut exports by a million barrels a day because of the US economic war, a.k.a. sanctions.

The House of Saud is applying a highly predatory pricing strategy, which boils down to reducing market share of its competitors, in the middle- to long-term. At least in theory, this could make life miserable for a lot of players – from the US (energy development, fracking and deepwater drilling become unprofitable) to producers of heavy, sour crude such as Iran and Venezuela. Yet the key target, make no mistake, is Russia.

A strategy that simultaneously hurts Iran, Iraq, Venezuela, Ecuador and Russia cannot escape the temptation of being regarded as an “Empire of Chaos” power play, as in Washington cutting a deal with Riyadh. A deal would imply bombing ISIS/ISIL/Daesh leader Caliph Ibrahim is just a prelude to bombing Bashar al-Assad’s forces; in exchange, the Saudis squeeze oil prices to hurt the enemies of the “Empire of Chaos.”

Yet it’s way more complicated than that.

Sticking it to Washington

Russia’s state budget for 2015 requires oil at least at $100 a barrel. Still, the Kremlin is borrowing no more than $7 billion in 2015 from the usual “foreign investors”, plus $27.2 billion internally. Hardly an economic earthquake.

Besides, the ruble has already fallen over 14 percent since July against the US dollar. By the way, the currencies of key BRICS members have also fallen; 7.8 percent for the Brazilian real, 1.6 percent for the Indian rupee. And Russia, unlike the Yeltsin era, is not broke; it holds at least $455 billion in foreign reserves.

The House of Saud’s target of trying to bypass Russia as a top supplier of oil to the EU is nothing but a pipe dream; EU refineries would have to be reframed to process Saudi light crude, and that costs a fortune.

Geopolitically, it gets juicier when we see that central to the House of Saud strategy is to stick it to Washington for not fulfilling its “Assad must go” promise, as well as the neo-con obsession in bombing Iran. It gets worse (for the Saudis) because Washington – at least for now – seems more concentrated in toppling Caliph Ibrahim than Bashar al-Assad, and might be on the verge of signing a nuclear deal with Tehran as part of the P5+1 on November 24.

On the energy front, the ultimate House of Saud nightmare would be both Iran and Iraq soon being able to take over the Saudi status as key swing oil producers in the world. Thus the Saudi drive to deprive both of much-needed oil revenue. It might work – as in the sanctions biting Tehran even harder. Yet Tehran can always compensate by selling more gas to Asia.

So here’s the bottom line. A beleaguered House of Saud believes it may force Moscow to abandon its support of Damascus, and Washington to scotch a deal with Tehran. All this by selling oil below the average spot price. That smacks of desperation. Additionally, it may be interpreted as the House of Saud dithering if not sabotaging the coalition of the cowards/clueless in its campaign against Caliph Ibrahim’s goons.

Compounding the gloom, the EU might be allowed to muddle through this winter – even considering possible gas supply problems with Russia because of Ukraine. Still, low Saudi oil prices won’t prevent a near certain fourth recession in six years just around the EU corner.

Reuters / Hamad I Mohammed

Go East, young Russian

Russia, meanwhile, slowly but surely looks East. China’s Vice Premier Wang Yang has neatly summarized it; “China is willing to export to Russia such competitive products as agricultural goods, oil and gas equipment, and is ready to import Russian engineering products.” Couple that with increased food imports from Latin America, and it doesn’t look like Moscow is on the ropes.

A hefty Chinese delegation led by Premier Li Keqiang has just signed a package of deals in Moscow ranging from energy to finance, and from satellite navigation to high-speed rail cooperation. For China, which overtook Germany as Russia’s top trading partner in 2011, this is pure win-win.

The central banks of China and Russia have just signed a crucial, 3-year, 150 billion yuan bilateral local-currency swap deal. And the deal is expandable. The City of London basically grumbles – but that’s what they usually do.

This new deal, crucially, bypasses the US dollar. No wonder it’s now a key component of the no holds barred proxy economic war between the US and Asia. Moscow cannot but hail it as sidelining many of the side effects of the Saudi strategy.

The Russia-China strategic partnership has been on the up and up since the “epochal” (Putin’s definition) $400 billion, 30-year gas deal of the century” clinched in May. And the economic reverberations won’t stop.

There’s bound to be an alignment of the Chinese-driven New Silk Roads with a revamped Trans-Siberian railway. At the Shanghai Cooperation Organization (SCO) summit last month in Dushanbe, President Putin praised the “great potential” of developing a “common SCO transport system” linking “Russia’s Trans-Siberian railway and the Baikal-Amur mainline” with the Chinese Silk Roads, thus“benefiting all countries in Eurasia.”

Moscow is progressively lifting restrictions and is now offering Beijing a wealth of potential investments. Beijing is progressively accessing not only much-needed Russian raw materials but acquiring cutting-edge technology and advanced weapons.

Beijing will get S-400 missile systems and Su-35 fighter jets as soon as the first quarter of 2015. Further on down the road will come Russia’s brand new submarine, the Amur 1650, as well as components for nuclear-powered satellites.

Reuters / Hamad I Mohammed

The road is paved with yuan

Presidents Putin and Xi, who have met no less than nine times since Xi came to power last year, are scaring the hell out of the “Empire of Chaos.” No wonder; their number one shared priority is to dent the hegemony of the US dollar – and especially the petrodollar – in the global financial system.

The yuan has been trading on the Moscow Exchange – the first bourse outside of China to offer regulated yuan trading. It’s still at only $1.1 billion (in September). Russian importers pay for 8 percent of all Chinese goods with yuan instead of dollars, but that’s rising fast. And it will rise exponentially when Moscow finally decides to accept yuan under Gazprom’s $400 billion “gas deal of the century.”

This is the way the multipolar world goes. The House of Saud deploys the petrodollar weapon? The counterpunch is increased trade in a basket of currencies. Additionally, Moscow sends a message to the EU, which is losing a lot of Russia trade because of counter-productive sanctions, thus accelerating the EU’s next recession. Economic war does work both ways.

The House of Saud believes it can dump a tsunami of oil in the market and back it up with a tsunami of spin – creating the illusion the Saudis control oil prices. They don’t. As much as this strategy will fail, Beijing is showing the way out; trading in other currencies stabilizes prices. The only losers, in the end, will be those who stick to trade in US dollars.

Pepe Escobar is the roving correspondent for Asia Times/Hong Kong, an analyst for RT and TomDispatch, and a frequent contributor to websites and radio shows ranging from the US to East Asia.

Nobel Peace Prize for an Indian and Pakistani does have to do with global politics: Arundhati Roy

On the Lauran Flanders show, Arundhati Roy was asked her views on the Nobel peace prize:

Arundhati Roy:

“Look, it’s a difficult thing to talk about because Malala is a brave girl and I think she has now started speaking out against US invasions and bombings that are going on.

“But certainly… as an individual, it is very difficult to resist great powers trying to co-opt you and, trying to use you in certain ways, and she’s only a kid, you know, and she cannot be faulted at all for what she did, but certainly the great game is going on, you know.

“And, of course, the idea of an Indian and a Pakistani being given…sharing the Nobel prize does have to do with global politics and it does have to do with the fact that until the 1990s, Pakistan and America were allies. Now, with all the trouble in Pakistan, the US is trying to step back from that marsh and look for firmer ground, in India.

“So we are at the receiving end of the kiss of death, if you like, and so both the begums now, Pakistan and India, have to be in the sheikh’s harem. You know, they have to be both be…

“I am not…this should not be taken as if I am criticising the individuals at all, but when the great game is at play, then they pick out people…all of us, I am aware of… at least you have to be aware of it…”

Walls instead of Bridges: Kashmir's chance destroyed by Media

Kashmir-flood

– by Special Correspondent, Nasheman

Srinagar: On 7th September, 2014 Kashmir witnessed the worst disaster of the century when the summer capital of Jammu & Kashmir got submerged. Rajbagh, Shivpura, Indra Nagar, Jawahar Nagar and Bemina were the worst hit. Water levels rose upto 18 feet in these areas. People were shocked and unable to understand how to save their life. But as we say life has its own ways, people started marching towards these areas and tried to rescue people and bring them out of these submerged houses.

In the state government, except the Chief Minister & DGP everyone else was trying to save himself and his family. I reached Srinagar airport on 5th September and on the same day on directions of Home Ministry two NDRF teams had reached Srinagar airport. Mubashir Bukhari, Dy. SP JK police was briefing them about the situation. NDRF was clueless about the topography of the area and in Kashmir we still don’t have Google maps updated so you can understand how tough it would have been for this police officer to brief them. But anyhow NDRF teams were sent to the destination.

On 7th September when water started entering Srinagar city, locals, NDRF teams and some J&K policemen started rescue operation. On the morning of 8th September, we saw big fleet of helicopters of IAF pressed in the rescue operation. Whenever there is any natural calamity, I have never seen that rescue operations are done by government only, in most of the cases, during rescue operation locals do more work than government machinery and same happened in Kashmir..

Air Force, Army did tremendous job in rescuing people. I Saw army without any hesitation taking people in their vehicles and people also getting into these vehicles without any hesitation. This was the Kashmir which I had seen in my childhood when army and public were friends, though after 1990 everything changed. Till 9th of September everything was going on peacefully but on 10th I again saw anti army voices raising especially in non flood hit areas. I was wondering what happened suddenly, why are people against the army? Why are people saying army is rescuing only non-Kashmiris? Then I realised the battery of journalists who had come with IAF fleet were just showing rescue operation of army and not of the locals. Unfortunately, these reporters were just showing the interviews of only those people who were from outside, this reporting gave the impression that government is only trying to rescue non Kashmiris which was not true. Though few channels did commendable job by taking messages of people stranded in the flood to their families but all these efforts were wasted by some editors for reasons well known to them. This was the time when media could have played the constructive role and tried to narrow down the gap between localities and Army.

Worst was when few channels started playing visuals of stone pelting on security forces in 2010 and rescue operation. I didn’t understand what they were trying to tell people of Kashmir by showing these pictures. Didn’t the media spoil the work done by army and IAF and didn’t this reportage allow people to raise questions.

There were lot of stories which these journalists could have done. Boat owners taking thousands for few kilometers. Thieves trying to sneak in these submerged houses and some heroic jobs of local people.

I am a journalist and fortunately or unfortunately i was in Kashmir during these floods and witnessed as how some media reportage not only spoilt the work done by government but widened the gap between Kashmiris and the government.