Education Minister urges schools to maintain long-term partnerships

SINGAPORE: Singapore Education Minister Heng Swee Keat has urged schools here to maintain long-term partnerships, which will enrich the community.

He was speaking at Yishun Junior College's (YJC) Celebrating Values Day on Saturday.

It is a carnival to raise funds for charities such as the President's Challenge and Movement for the Intellectually Disabled of Singapore.

YJC has roped in partners to organise the event - such as parent support groups and other schools in the neighbourhood.

The event also saw Mr Heng launching a book of values. The minister autographed ten copies of the book.

The school will keep a copy, while the remaining nine will be given to well-wishers who pledge at least S$500 to beneficiaries.

Mr Heng said: "YJC is creating a ripple effect in spreading the message to the community that values ought to be celebrated, that we will care for people in need, that we'll nurture the young. These are the values that will uplift our society and will give all Singaporeans a brighter future."

- CNA/xq

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US manufacturing rises for 3rd straight month: ISM

WASHINGTON, March 1, 2013 (AFP) - US manufacturing activity expanded in February for the third month in a row, hitting the highest level since 2011, according to the ISM survey of purchasing managers released Friday.

The Institute for Supply Management's manufacturing sector index rose to 54.2 from 53.1 in January, boosted by a 4.5 percent surge in new orders.

Manufacturing appeared to be pulling out of a holding pattern in the second half of 2012, when the index hovered around the 50 break-even line between growth and contraction.

The index, based on a nationwide survey of manufacturing purchasing executives, showed across-the-board gains for the second straight month.

The February reading was the highest since June 2011 and unexpectedly strong.

Most analysts estimated the index would fall to 52.4.

Gains were seen in all five sub-indexes: new orders, production, employment, supplier deliveries and inventories.

Of the 18 manufacturing industries surveyed, 15 reported growth, compared with 13 in January.

Executives polled in the survey generally appeared upbeat about demand, although some indicated worry about the government's drastic "sequester" spending cuts that were to begin Friday.

"Overall business is good," said an executive in the food, beverage and tobacco products industry.

A furniture executive said: "Business seems to be on an uptick. The normal seasonal downturn for us has been much shorter and not as severe as in the past four years."

But an executive in computers and electronics pointed to government cuts in defense spending as a problem for his industry, one of the three reporting a contraction in February.

- AFP/ch

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Pope leaves Vatican on historic final day

VATICAN CITY: Pope Benedict XVI left the Vatican on Thursday for the last time as pontiff before he steps down as leader of the world's 1.2 billion Catholics, becoming the first pope to resign in 700 years.

Benedict boarded a white helicopter emblazoned with the Vatican flag for the papal summer residence of Castel Gandolfo near Rome, flying over the Vatican for the last time as pope.

As he took leave of his closest aides in an emotional parting ceremony in the Vatican, staff lined the route of his motorcade and applauded.

The bells of St Peter's Basilica rang out as the helicopter took off from the Vatican's helipad.

"Thank you for your love and support," the pope said in a final tweet sent from his @pontifex Twitter account just before taking off.

"May you always experience the joy that comes from putting Christ at the centre of your lives."

The Twitter account will now be suspended until a new pope is elected in a conclave next month.

The 85-year-old, who has said he can no longer carry on, will then bid one last goodbye to residents of Castel Gandolfo before retiring out of the public eye forever to a life of prayer.

At 1900 GMT, Benedict will no longer be pope.

The Swiss Guards -- a military corps that has protected the papacy since the 15th century and is best known for its brightly-coloured uniforms -- will then leave their posts and return to Rome.

Following tradition, staff in the Vatican will meanwhile apply seals to the doors of the papal apartments and the lift that leads up to them -- to be broken only once a new pope has been elected.

Benedict is only the second pope to resign in the Church's 2,000-year history and in his final hours as pope on Thursday he took the unprecedented step of pledging allegiance to his successor.

"Among you there is also the future pope to whom I promise my unconditional obedience and reverence," the pope said as he bade farewell to cardinals in the Vatican's ornate Clementine Hall.

"Let the Lord reveal the one he has chosen," said the pope, wearing an ermine-lined red stole over his white cassock as cardinals doffed their berettas and lined up to kiss the papal ring.

Benedict will remove the personalised signet ring -- known as the "Fisherman's Ring" -- before he leaves office and it will be destroyed, a tradition to ensure the papal seal is not misused.

"We have experienced, with faith, beautiful moments of radiant light together, as well as times with a few clouds in the sky," Benedict told the cardinals, reprising his remarks to a crowd of 150,000 faithful in St Peter's Square on Wednesday.

"Let us remain united, dear brothers," he said, in the final moments of an eight-year pontificate often overshadowed by infighting at the Vatican and divisions between reformers and traditionalists in the Catholic Church.

The Vatican has said pope will live in Castel Gandolfo for the next two months before taking up permanent residence inside a former convent on a hilltop in the Vatican grounds overlooking Rome.

The German pope stunned the globe when he announced on February 11 his decision to step down, saying he no longer had the "strength of mind and body" required by a fast-changing world.

The news has captured massive media attention, with the Vatican saying that 3,641 journalists from 61 countries will cover the upcoming conclave -- on top of the regular Vatican press corps.

The ex-pontiff will formally carry the new title of "Roman Pontiff Emeritus" or "pope emeritus" for short, although he will still be addressed as "Your Holiness Benedict XVI".

The only other pope who resigned by choice was Celestine V, a humble hermit who stepped down in 1294 after just a few months in office out of disgust with Vatican corruption and intrigue.

Once Benedict takes up residence inside the Vatican, the Church will be in the unprecedented situation of having a pope and his predecessor living within a stone's throw of each other.

Commenting on the new arrangement, Vatican spokesman Federico Lombardi said that Benedict "has no intention of interfering in the positions, decisions or activities of his successor".

Benedict has said he will live "hidden from the world" but the Vatican indicated he could provide "spiritual guidance" to the next pope.

Vatican analysts have suggested his sudden exit could set a precedent for ageing popes in the future, and many ordinary Catholics say a more youthful, pastoral figure could breathe new life into a Church struggling on many levels.

From Catholic reformers calling for women clergy and for an end to priestly celibacy, to growing secularism in the West and ongoing scandals over sexual abuses by paedophile priests going back decades, the next pope will have a tough agenda.

Meanwhile the suspense was building up in Castel Gandolfo -- a tiny mediaeval hilltop town which has hosted visiting popes for centuries and where many locals work at the sprawling papal residence.

"It's a very emotional day," said Patrizia Gasperini, 40, who works in a gift shop next to the imposing wooden doors Swiss Guards will shut at 1900 to signal the end of Benedict's papacy.

Gasperini, who named her eight-year-old daughter Benedetta in his honour, said: "We've been privileged to see a different, more humane side to him over the years, and grown to love him."

-AFP/ac

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New Singapore ambassadors to Qatar, Saudi Arabia and Switzerland

SINGAPORE: The government has appointed Mr Wong Kwok Pun as Singapore's first resident Ambassador to the State of Qatar, Mr Lawrence Anderson as Singapore's next Ambassador to the Kingdom of Saudi Arabia, and Mr Tee Tua Ba as Singapore's Ambassador to Switzerland (resident in Singapore).

Mr Wong and Mr Anderson will assume their post on 17 March 2013 and 30 March 2013 respectively.

Mr Wong joined the Singapore Foreign Service in 1975. His most recent appointment was as Ambassador to the Kingdom of Saudi Arabia (August 2009 to February 2013), with concurrent accreditation to the Kingdom of Bahrain (January 2010 to February 2013).

Mr Anderson joined the Singapore Foreign Service in 1984. His most recent appointment was as Director/Special Duties in the Ministry of Foreign Affairs and concurrently as Diplomat-in-Residence at the Civil Service College (February 2011 to February 2013).

Mr Tee was Singapore's Non-Resident Ambassador to the United Arab Emirates from April 2008 to December 2012.

- CNA/de

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Senate committee approves Lew for US Treasury chief

WASHINGTON: The US Senate Finance Committee on Tuesday approved President Barack Obama's nominee Jack Lew to be the new Treasury secretary, replacing Timothy Geithner who stepped down last month.

Senators voted 19-5 in favor of Lew, with several Republicans joining with the majority Democrats. The committee approval paves the way for a full Senate vote as early as Wednesday.

With Republicans embroiled in a showdown with the White House over the country's massive debt, the Lew confirmation process ran the risk of being caught up in debate over the looming budget cuts, which could ultimately cost hundreds of thousands of American jobs if Congress fails to act.

But the nomination of Lew, a former Citigroup executive who most recently served as Obama's chief of staff and participated in the budget negotiations of 2011, appears to have ducked such turmoil.

The committee's ranking Republican Orrin Hatch ended up voting for him despite "serious reservations."

"I believe the president is owed a fair amount of deference in choosing people to work in his administration and, though I would have chosen a different person for this particular post, I intend to defer to President Obama with regard to the Lew nomination," Hatch said.

Hatch sought clarification from Lew on more than 60 questions ahead of the vote, including his positions on China's currency and whether the White House ought to engage in serious reform of entitlement programs like Medicare and Medicaid.

"I strongly disagree with Mr Lew on some significant policy issues -- most notably, his decision to backtrack from the administration's previous position on the need for entitlement reform and his belief in the need for higher taxes," Hatch said in a statement.

Lew, 57, served twice as budget director, the first time in the 1990s under president Bill Clinton. As Obama's right hand man at the White House, Lew had a central role in negotiations that resulted in the massive automatic spending cuts due by law to go into effect on Friday.

The committee confirmation vote for Lew was considerably more sedate than the heated debate during the Senate Armed Services Committee vote earlier this month for Chuck Hagel, whom the president nominated to head the Pentagon.

Hagel faces a full Senate vote as early as Tuesday.

-AFP/ac

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UN rights chief, nations condemn Security Council on Syria

GENEVA: The UN human rights chief and several nations criticised the Security Council Monday for failing to take action to halt spiralling violence in Syria and bring to justice perpetrators of abuses in the conflict.

"The Security Council has so far failed with regard to Syria," Navi Pillay told ministers at the start of a regular UN Human Rights Council session in Geneva.

Pillay said her office had pushed for the Security Council to refer the conflict to the International Criminal Court (ICC) after "repeated reports of widespread or systematic crimes and violations."

The ICC can only investigate war crimes if asked to do so by the Security Council but the body is deadlocked in its handling of the conflict by disagreements between its Western members and staunch Syrian ally Russia, plus China.

"For close to two years, the international community has failed to put a stop to the carnage," said UN General Assembly president Vuk Jeremic.

The UN estimates that more than 70,000 people have died in the two years since the Syrian government began a crackdown on anti-regime protesters.

In its latest report published this month, a UN commission of inquiry found that war crimes by both government forces and rebels were spiralling with the conflict becoming increasingly radicalised and sectarian.

It also called for the Security Council to refer the conflict to the ICC.

"For how long we, the international community, will allow this humanitarian tragedy to continue?" Turkish Foreign Minister Ahmet Davutoglu asked the council.

President Bashar al-Assad's regime "has lost its legitimacy," he said.

Davutoglu stressed that the Security Council had the responsibility to help ensure that humanitarian assistance reached all of the estimated more than four million Syrians in desperate need.

"It is incomprehensible to hinder humanitarian access," he said, calling for a Security Council resolution "to ensure humanitarian access and introduce measures to those who prevent such access."

Frans Timmermanns, the foreign minister of The Netherlands, also insisted the ICC address the Syrian crisis.

"The bloodshed must stop," he said.

Swiss Foreign Minister Didier Burkhalter said the world was witnessing a "human catastrophe, a humanitarian catastrophe".

Switzerland last month filed a petition signed by 57 countries calling for the ICC to open a case on war crimes in Syria.

Voicing support for a political solution to the conflict, Burkhalter said Switzerland was open to hosting another international meeting following one last June at which world powers agreed on a political transition plan.

-AFP/ac

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Football: Man City leave Chelsea trailing, Newcastle edge Saints

LONDON: Manchester City galvanised their grip on second place in the Premier League and trimmed Manchester United's lead back to 12 points with a 2-0 victory at home to nearest rivals Chelsea on Sunday.

After Chelsea's Frank Lampard had seen a penalty saved by England colleague Joe Hart, City prevailed through a pair of fine second-half goals from man-of-the-match Yaya Toure and substitute Carlos Tevez.

Although City's chances of retaining their league title remain decidedly slender, they now have a seven-point advantage over Chelsea, who could slip to fourth if Tottenham Hotspur overcome West Ham United on Monday.

Both City manager Roberto Mancini and his Chelsea counterpart Rafael Benitez flooded their sides with midfielders at the Etihad Stadium, while Benitez opted to leave John Terry and Fernando Torres on the bench.

City deployed Sergio Aguero as a lone striker and although he had to plough a lone furrow, it was the hosts who dominated the first half.

Visiting goalkeeper Petr Cech had to tip a header from Matija Nastasic over the bar, while Gary Cahill did well to block a goal-bound volley from Pablo Zabaleta.

City handed a rare start to Jack Rodwell and the midfielder threatened twice shortly before half-time, extending Cech with first a 25-yard drive and then a header from the resulting corner.

Chelsea were gifted an opportunity to open the scoring early in the second half when Hart was adjudged to have fouled Demba Ba, but the England goalkeeper redeemed himself with an excellent save from Lampard's spot-kick.

Aguero dinked a shot onto the roof of the net before City's enterprise finally told in the 63rd minute.

Toure collected a pass from David Silva and deftly evaded the attentions of four visiting defenders before shaping a shot around Cech that nestled in the bottom-right corner.

Tevez settled the encounter in style in the 85th minute, collecting the ball 22 yards from goal and arrowing a shot into the top-left corner.

In the day's other game, Newcastle edged relegation rivals Southampton 4-2 in a topsy-turvy game at St James' Park that took Alan Pardew's side six points clear of the bottom three.

In honour of their growing French contingent, Newcastle had dubbed the day 'French Day', handing out berets to their supporters and playing the French national anthem prior to kick-off.

However, it was a Frenchman in a red shirt who broke the deadlock, as midfielder Morgan Schneiderlin converted a Rickie Lambert knockdown to give Southampton a third-minute lead.

Newcastle's reaction was swift and in the 32nd minute they went ahead thanks to two French players of their own.

Yoan Gouffran forced a save from Artur Boruc after darting into the box from the left and when the ball ran across goal, Moussa Sissoko sped in to touch it over the line.

The hosts' momentum did not abate and in the 42nd minute they went ahead with a stunning goal, as Papiss Cisse cracked home a looping half-volley from 25 yards.

Newcastle lost captain Fabricio Coloccini to injury just before half-time and saw Southampton equalise five minutes into the second half when Lambert swept home a low cross from Adam Lallana.

However, Newcastle hit back once again and took the lead for the second time in the game when Yohan Cabaye converted a 67th-minute penalty awarded for a handball by Danny Fox.

The suspense in a stretched game finally dissipated in the 79th minute, when an own goal by Jos Hooiveld put Newcastle 4-2 ahead and confirmed the hosts' success.

- AFP/fa

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Football: Berbatov's magic moment sinks Stoke

LONDON: Fulham forward Dimitar Berbatov produced a moment of magic to end his side's poor run with a 1-0 win over Stoke at Craven Cottage on Saturday.

Berbatov marked his 200th Premier League appearance with his 85th goal in the English top-flight and it was one of the former Manchester United star's best as he netted a superb volley just before half-time.

Martin Jol's team still needed a second half penalty save from Mark Schwarzer, who kept out Jon Walters' effort, to clinch just their fourth win in 19 Premier League games.

Berbatov and Schwarzer's heroics lifted Fulham to 11th, nine points clear of the relegation zone, and continued the away-day misery for Stoke, who have won just one in their last 23 leagues games on their travels.

Fulham's first sight of goal fell to Berbatov after Sascha Riether's cross picked out the Bulgarian forward for a close-range volley that looped just over.

Bryan Ruiz had the ball in the net moments later but Fulham's celebrations were cut short as referee Lee Probert correctly ruled that the Costa Rican forward had used his hand to score.

Steven Nzonzi needed treatment after a collision with Berbatov left the Stoke midfielder with blood dripping from the bridge of his nose.

Nzonzi still seemed miffed following that incident and he was fortunate to escape with a booking after cuffing Ruiz around the head in an off-the-ball incident.

A ferocious free-kick from Fulham's Greek midfielder Giorgos Karagounis brought the best save of the half from Asmir Begovic.

Stoke sent on American midfielder Brek Shea for his debut when Matthew Etherington hobbled off with a back injury.

Jol's team pushed on and finally broke the deadlock in first half stoppage-time when a cross was only half cleared to Berbatov, who showed superb technique to lash a brilliant volley into the top corner of Begovic's goal.

Fulham defender Philippe Senderos almost gifted Stoke an equaliser immediately after the interval when his attempt to shepherd the ball back to Schwarzer allowed Peter Crouch to nip ahead of him and flick a shot that the Australian saved well.

Schwarzer came to Fulham's rescue again in the 54th minute after Dejagah conceded a penalty when he blocked Shea's cross with his raised arms.

Walters stepped up to take the spot-kick, but the Stoke striker has a poor record with penalties this season and his luck was out again as Schwarzer dived to his right to save.

- AFP/fa

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WTO may not be ideal platform to deal with currency issue

BEIJING: The World Trade Organisation (WTO) may not be the ideal platform to deal with the issue of currency manipulation, according to Costa Rica's Foreign Trade Minister Anabel Gonzalez, who is in the running to be WTO Director-General.

She was in Beijing to meet Chinese authorities to garner their support.

As the global economy slows and countries scramble to boost exports, trade friction is likely to escalate.

That's particularly the case with the world's largest exporter and second largest trading nation -- China.

Competitors often point to China as unfairly subsidizing its exports via the undervalued yuan.

But Costa Rica's candidate for the top job at the WTO said the trade organization might not be equipped with the tools to tackle the issue.

Anabel Gonzalez said: "I would be cautious in terms of looking at it in the context of the WTO.

"This issue of exchange rates is normally associated with monetary policies, fiscal policies, financial policies, and in that regard I think there may be other venues that are better suited to deal with these issues, be it, meetings of central bankers, ministers of finance, the IMF, the G20."

In Beijing to gain support for her candidacy, Ms Gonzalez said China has achieved a huge transformation over the past decade.

However, trade reform is a long-term process. A recent report on China by the WTO noted a decrease in the number of state-owned enterprises. But still, a significant number of them remain, particularly in sectors regarded as vital to the national economy.

As China's goals change, placing priority on moving up the industrial value chain, liberalizing the market may take a backseat. For instance, state supported financing and cheap land may be seen as unfairly giving home-grown companies a leg up.

Costa Rica's foreign trade minister said: "Each country can, of course, decide what are the best actions and policy measures to continue to promote growth and development in its own country.

"From the perspective of WTO system, the important part is that this is done in a way that respects the rules and disciplines of the organization."

The Costa Rican is among nine candidates vying to succeed Pascal Lamy when he steps down as head of the WTO at the end of August.

- CNA/al

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Top detective assigned to Pistorius case

PRETORIA: South African police assigned a top new detective Thursday to take over the bungled Oscar Pistorius investigation after it emerged the lead officer faced seven charges of attempted murder, dramatically undermining the prosecution case against the sprint star.

"We recognise the significance, the importance... and the severity of the matter," police commissioner Mangwashi 'Riah' Phiyega said as she announced the new appointment. "This matter will receive attention at the national level."

The charges against detective Hilton Botha further embarrassed the prosecution which has seen its evidence repeatedly picked apart during the bail hearing for Pistorius over the Valentine's Day killing of his girlfriend Reeva Steenkamp.

Pistorius himself suffered a new blow on Thursday when US sportswear giant Nike said it has suspended its contract with the double amputee Olympian and Paralympian known as "Blade Runner" who had become an inspiration to millions.

The 26-year-old is due back in court on Friday for the fourth day of the bail hearing.

Police revealed Thursday that Botha is facing seven charges for shooting at a minibus taxi in 2011, and he also came under repeated fire from Pistorius' defence team over witness testimony and his handling of the investigation.

Defence lawyer Barry Roux said there were "disastrous shortcomings in the state's case".

Prosecutors allege it was a premeditated killing, but Pistorius has said he mistook his 29-year-old model girlfriend for an intruder.

Steenkamp was found by medics in the early hours of last Thursday at Pistorius' luxury Pretoria home covered in bloodied towels and wearing white shorts and a black vest, with bullet wounds to her head, elbow and hip. She died at the scene.

The Olympian and Paralympian sprinter, who has been in police custody for a week, could face months or perhaps years in pre-trial detention if he does not win bail.

Pistorius, who said he kept a gun in his bedroom because of fears of violence, denies intentionally killing his girlfriend.

He said in a statement read out in court earlier this week that he had fired at the door of the bathroom where his lover was hiding as he was "filled with horrible fear" that someone had sneaked in through an open window in the dead of night.

Botha was forced to admit this week that Pistorius' claims were "consistent" with the crime scene and on Thursday he said of the investigation: "I'm sure it could have been handled better."

He has conceded he did not wear protective clothing when Pistorius' forensic team visited his home, which may have contaminated the scene.

He was further forced to admit that police had not seen a bullet that hit the toilet basin and which was only discovered four days later by the defence forensic team.

Roux on Wednesday also threw doubt on key prosecution witness evidence suggesting the couple, who had been dating since late last year, had rowed before the shooting.

A woman who lives in the same high security complex "heard talking that sounded like non-stop fighting from two to three in the morning," hours before she was killed, prosecutor Gerrie Nel said.

Another witness "heard a female screaming two-three times, then more gunshots," Botha said.

But Roux disputed the accounts, as police said one witness was at least 300 metres from the house and the other had misheard the number of gunshots.

Prosecutors also backtracked on allegations that a police search had found testosterone and needles in a dresser in Pistorius' bedroom.

"We can't tell what it is," national prosecuting authority spokesman Medupe Simasiku said. "We can't confirm or deny it until we get the forensic report."

Pistorius' family said in a statement it was "satisfied" with the bail hearing, but "finds the contradictions in Botha's testimony extremely concerning".

Arguing that Pistorius would be a flight risk, the prosecution quoted a magazine article in which the runner claimed to have a house in Italy.

But his coach Ampie Louw told AFP the property is actually a training facility built by the local government and a hotel, where the athlete goes regularly to train and unwind.

Louw said that if Pistorius is granted bail he wanted to get the runner -- who became a hero to millions when he became the first double amputee to compete at the 2012 London Olympics -- back on the track.

"I'm going to speak with him and try to get him going."

Pistorius' career has been put on hold since the shooting, forcing him to cancel a number of races.

Nike on Thursday became the latest in a series of corporate giants to halt endorsements which have earned the athlete millions of dollars. US sunglasses maker Oakley has already suspended its contract with him and French cosmetics firm Clarins said it was dropping an advertising campaign featuring Pistorius.

The athlete, who off the track has had a rocky private life with stories of rash behaviour, beautiful women, guns and fast cars, has built up a powerful team of lawyers, medical specialists and public relations experts for his defence.

- AFP/fa

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British economy moves closer to new stimulus injection

LONDON: Britain's economy, at risk of a third recession in five years despite record employment, could see a fresh injection of cash stimulus, according to minutes of a Bank of England meeting published on Wednesday.

Bank of England (BoE) governor Mervyn King has called for more quantitative easing, minutes from the central bank's February meeting showed.

This helped push the pound to a near 16-month low point against the euro and London's FTSE 100 shares index to a five-year high in trading on Wednesday.

"2013 just goes from bad to worse for the pound as this morning's ... minutes came out with a surprisingly bearish vote of 6-3 against further asset purchases after 8-1 last time around," said Investec bank economist Victoria Clarke.

"This continues the snowball of gloominess which has been gathering pace against sterling with the downside risk now getting more worrying for the friendless pound."

Sterling has been hit in recent days also by market rumours that Standard & Poor's rating agency was preparing to cut its top AAA long-term credit rating for Britain. S&P has however declined to comment on the speculation.

Traders were meanwhile mulling over mixed British employment data.

According to the Office for National Statistics (ONS), employment in Britain has hit another record high point, with 29.73 million people in work at the end of December.

Despite this, the unemployment rate edged higher to 7.8 percent over the same period from 7.7 percent in the three months to November, the ONS added.

Recent data meanwhile showed that British gross domestic product shrank by 0.3 percent in the fourth quarter of 2012 compared with the previous three months.

Another contraction in the current first quarter of 2013 would place Britain in a so-called "triple-dip" recession.

Against such a backdrop, the BoE's nine-member Monetary Policy Committee voted 6-3 to keep its QE cash stimulus amount at £375 billion ($574 billion, 429 billion euros), according to minutes from their February 6-7 gathering.

However, outgoing chief King was joined by fellow MPC members David Miles and Paul Fisher in calling for another £25 billion in QE.

The British pound struck multi-month lows on Wednesday as the minutes stoked fresh concern over inflation and the economic outlook, dealers said.

Sterling slumped to 87.64 pence per euro -- which was the lowest level since late October 2011. It also dived to a seven-month nadir of $1.5282.

And on the stock market, London's FTSE 100 index of leading companies surged past 6,400 points for the first time in more than five years.

Under quantitative easing, the Bank of England creates cash that is used to purchase assets such as government and corporate bonds with the aim of boosting lending and in turn economic activity.

At the same time, QE can stoke inflation as it is tantamount to printing money.

British 12-month inflation stood at 2.7 percent in January for a record fourth month in a row -- above the government-set target of 2.0 percent.

"February's MPC minutes provided another clear demonstration of the Committee's increasingly flexible approach to inflation targeting," said Samuel Tombs, economist at the Capital Economics research group.

"We continue to think that more QE is only a few months away."

Wednesday's minutes added that BoE policymakers were unanimous earlier this month in freezing the bank's key interest rate at a record-low 0.50 percent -- where it has stood since March 2009, or almost four years.

-AFP/ac

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EU, Russia call for flexibility from Iran

BRUSSELS: The European Union and Russia called on Iran on Tuesday to be flexible at much-anticipated talks next week over its disputed nuclear programme.

EU foreign affairs head Catherine Ashton said after meeting Russian Foreign Minister Sergei Lavrov that both sides "expressed hope that Iran will come to these negotiations with flexibility and that we can make substantial progress".

"We remain determined to work towards a solution of the Iranian nuclear issue and the key is for Iran to comply fully with its international obligations," Ashton said in a statement.

The next round of talks with Iran under the '5+1' format -- UN Security Council members Britain, China, France, Russia and the United States, plus Germany -- will be held on February 26 in Kazakhstan after a long gap and failed meetings in Istanbul, Baghdad and Moscow.

Iran insists that its nuclear programme is peaceful and that it has every right to pursue it under current international conventions.

The United States has led charges that Tehran instead is intent on obtaining nuclear weapons.

Washington has helped put in place a tough sanctions regime backed by the EU to try to force Iran to allow full access to its facilities.

Ashton said she had also discussed Syria with Lavrov, with both backing the work of UN Joint Special Representative Lakhdar Brahimi in trying to resolve the bloody conflict in the country.

-AFP/ac

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Football: Celta Vigo replace coach Herrera with Abel Resino

MADRID: Spanish Liga outfit Celta Vigo have fired head coach Paco Herrera and replaced him with Abel Resino, the relegation-threatened club announced on Monday.

"Celta Vigo have signed Abel Resino as first team coach. He will replace Paco Herrera on the bench." read a statement on the club website.

Herrera guided the team back into the top flight last season but has seen results slide during this campaign as the team sit 18th in La Liga and four points from safety with just five wins from 24 matches.

The team who have never won the Spanish title, lost their last outing 3-1 at Getafe on Saturday which was enough for club management to bring down the axe on Herrera's reign.

Resino who was a former goalkeeper with Atletico Madrid and helped the capital club to Spanish Cups in 1991 and 1992 before coaching the team for a brief spell in 2009 and leading them to qualification for the Champions League.

The 53-year-old has also had spells at Valladolid, Granada and Valladolid.

"The new coach will be presented tomorrow (Tuesday) after first team training," continued the statement.

-AFP/ac

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Football: City swamp Leeds in FA Cup romp

MANCHESTER, United Kingdom: A Sergio Aguero brace was the highlight of Manchester City's comfortable 4-0 FA Cup fifth round victory over Leeds on Sunday, a win that will lift, at least temporarily, speculation about the future of manager Roberto Mancini.

With City 12 points behind Premier League leaders Manchester United, the FA Cup remains Mancini's most realistic hope of winning silverware this season and Aguero's efforts, together with goals from Yaya Toure and Carlos Tevez, carried his team through to the last eight with the minimum of fuss.

"I think it was really important to win this game. If you score two goals within the first 20 minutes it is easier," said Mancini.

"Our strikers need to continue to score like they did today. If they do that, we can have other chances."

City wasted no time in taking out recent league frustrations on their Championship visitors and, even before their fifth minute opening goal, Leeds 'keeper Jamie Ashdown had been forced to race from his area to beat Aguero to an under-hit back-pass.

Neil Warnock's players were still struggling to come to terms with the task in hand when Yaya Toure left them with a mountain to climb.

The Ivory Coast international exchanged the ball with both David Silva and Tevez in a flurry of passes before advancing into the area and comfortably beating Ashdown and an attempt by Lee Peltier to clear off his line.

It was the start of a half of almost unrelenting City dominance with Tom Lees' timely tackle stopping Aguero, Silva flashing a shot wide and Tevez shooting into the side netting from an Aguero pull-back, all in quick succession.

Finally, after 14 minutes, Leeds succumbed to the inevitable after Lees was harshly judged to have pulled back Aguero on one of his trademark snaking runs into the area.

The Argentinian international took the spot kick himself, calmly converting past Ashdown.

Leeds finally launched a meaningful attack of their own as El Hadji Diouf headed just over from Sam Byram's 15th minute cross.

But, apart from City goalkeeper Costel Pantilimon being forced to punch away a 45th minute free-kick from Ross McCormack, the remainder of the tie quickly degenerated into a question of how many City would score.

It took until the sixth minute of the second half for City to finally find the third goal that rendered any prospect of a Leeds fightback out of the question.

Aguero played a one-two with Silva before continuing a sprint towards the left-hand by-line from where his cross was met on the goal line by Tevez, who forced the ball into the open net.

As City pressed on Yaya Toure might also have extended the lead when he met Silva's cross with a powerful shot which Ashdown parried directly to substitute Jack Rodwell who could only head against the cross-bar with an open goal at his mercy.

As Leeds supporters expressed their growing unrest with manager Warnock, the afternoon might have turned even uglier for the mid-table Championship side had Aguero made decent connection with an eight-yard shot which dribbled through to the goalkeeper.

Aguero finally added the fourth goal that City's superiority merited after 73 minutes, following Silva's well-timed pass picking out the Argentinian's run beyond the Leeds defence.

Aguero did the rest with a confident finish past the advancing Ashdown.

-AFP/ac

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Tennis: Del Potro reaches second Rotterdam tennis final

ROTTERDAM: Juan Martin del Potro dispatched Bulgarian youngster Grigor Dimitrov 6-4, 6-4 on Saturday to move into his second straight Rotterdam Open final.

The Argentine winner, seeded second and now the top-ranked player left after Friday's shock elimination of Roger Federer by Julien Benneteau, will play either the Swiss star's conqueror or fifth seed Gilles Simon.

Del Potro, who lost the final to Federer here a year ago, lifted a pair of indoor titles last autumn in Vienna and Basel.

The Argentine fired six aces in his 75-minute win, breaking once per set in his tidy victory in a first meeting with the 21-year-old Dimitrov.

"I'm glad I was able to beat him, he's a newcomer with a lot of potential," said the winner, bidding for his 14th career title as he plays Rotterdam for the second time.

"I used my serve well today."

Del Potro will be playing in his 19th final at the ATP level.

He reached the final hurdle after holding serve in 40 games without a loss.

"I improved my game since the quarter-finals, but if I want to win the title I have to get that little bit better. I need to play at 100 per cent."

Dimitrov had been looking for his second career ATP final after losing in Brisbane last month to Andy Murray.

The Argentine improved to 6-1 this season while Dimitrov dropped to 9-5.

- AFP/fa

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US Q4 industrial output stronger than thought: Fed

WASHINGTON: US industrial production fell in January but the final quarter of last year was much stronger than originally thought, the Federal Reserve reported on Friday.

January's production contracted 0.1 per cent, and manufacturing output fell 0.4 per cent.

But industrial production as a whole expanded at a 2.6 per cent annual pace in the October-December 2012 quarter, compared to the previous estimate of just 1.0 per cent, and manufacturing expanded 1.9 per cent, compared to the previous estimate of 0.2 per cent.

That suggested that the initial government estimate of an 0.1 per cent contraction in the economy last quarter could be revised upward.

Manufacturing output in December was revised up to 1.1 per cent and November 1.7 per cent.

January's production was hit mainly by a 3.9 per cent contraction in automotive products, while energy production surged 3.1 per cent.

- AFP/xq

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Mumbai attack movie hits cinemas on Mar 1

MUMBAI: Memories of the Mumbai terror attacks of November 2008 still evoke fear among residents of the city.

And those old wounds are expected to reopen now that a Bollywood movie about the incident is set to hit the big screens.

India's financial capital came to a virtual standstill on 26 November 2008.

The attacks which lasted for four days drew widespread global condemnation.

The Pakistan-based terrorists, who were members of Lashkar-e-Taiba, killed 164 people and wounded at least 308 in their wake.

But the undying spirit of the citizens of Mumbai helped the city crawl back to its feet soon after the carnage ended.

And now, Bollywood is all set to release a film which will depict the gruesome terror attacks that shook Mumbai nearly five years ago.

The movie "The Attacks of 26/11" will hit cinemas on 1 March.

A publicity event to launch the movie's music was held at the Gateway of India.

Around 200 students lit candles in memory of the 26/11 victims.

The event then continued at Café Leopold where two of the ten terrorists launched their initial strikes in the first wave of attacks on the city.

Film maker Ram Gopal Varma said: "I strongly believe as a film maker and as a human being that the attacks of 26/11 which happened in 2008 are not against any community in particular. I think it is an attack on human beings and committed by certain inhuman elements."

The mood was sombre as the film maker and lead actor showed off a few teasers from the movie.

The usually reclusive veteran Bollywood actor Nana Patekar, who plays the lead role in the film, shed his inhibitions and spoke to the media with unusual frankness.

He said: "I feel pained whenever I think about the attacks of 26/11. The film depicts the mindset of the terrorists who went on a carnage in Mumbai. We are trying to portray through our films what steps can be taken to prevent such types of attacks in future."

The owner of the Leopold was also present at the event, and has played himself in the film.

The music launch of the film has reignited the anger and bitterness in the minds of Indian citizens.

But as in 2008, the movie also shows the world that Mumbai and its people have picked up the pieces and are refusing to let fear of terror attacks get in the way of their daily lives.

- CNA/al

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Olympics: Wrestlers vow to fight Olympic removal

PARIS: Wrestlers around the world on Wednesday vowed to fight to save the ancient sport's Olympic status, after the International Olympic Committee voted to drop it for the 2020 Games.

Japan and Turkey -- whose cities Tokyo and Istanbul are bidding to host the Games in seven years' time -- led the calls for the world body to reconsider, as an online petition was organised urging a rethink and gained thousands of supporters.

The president of the Turkish wrestling federation, Hamza Yerlikaya, called the decision, taken at the IOC executive board meeting in Lausanne, Switzerland, on Tuesday, "unfair" and a "mistake" that they would seek to overturn.

"To have the 2020 Olympics in Istanbul without wrestling is unthinkable," said Yerlikaya, himself a double Olympic gold medallist, three-time world champion and eight-time European champion in Greco-Roman wrestling.

"We won't allow it," he added.

In Japan, Yerlikaya's counterpart Tomiaki Fukuda said on his federation's website that he was "dissatisfied and baffled", echoing the views of the sport's world governing body, which called the decision "an aberration".

Wrestling will remain on the programme for the 2016 Olympics in Rio de Janeiro but faces a fight against seven other sports for inclusion at the Games four years later. A final decision is to be made when all IOC members meet in September.

Members are seen as unlikely to vote against the executive board, however, raising the prospect that one of the few sports that survived from the original Olympics in ancient Greece into the modern era will disappear.

Wrestling first appeared in 708 BC and has only ever been left out of the Olympic programme once before in 1900.

The International Federation of Associated Wrestling Styles (FILA) has vowed to fight the decision, while multiple medallists Russia and Iran have also said they hoped the IOC would backtrack.

"This issue will definitely be a big blow to the country's sport, as it is one of our country's most popular sports," the head of Iran's national Olympic commitee, Mohammad Aliabadi was quoted as saying in Iranian media, "I will certainly pursue the case."

IOC president Jacques Rogge meanwhile insisted on Wednesday that the vote -- by secret ballot -- was fair and said he understood the angry response from those involved in the sport.

A meeting was planned between the committee and the International Federation of Associated Wrestling Styles (FILA), to discuss the matter, he told a news conference in Lausanne.

Wrestlers have been left dismayed by the decision, with Japan's undisputed queen of the ring, Saori Yoshida, saying: "I am so devastated that I don't know what to do."

Yoshida, a 55kg-class freestyle wrestler who is the face of Tokyo's campaign for the right to host the 2020 Games, has won a record 13 straight Olympic and world championship gold medals over 10 years.

In India, Sushil Kumar, who won a bronze in Beijing and a silver in London last year, said: "I still can't get over the news that we won't be at the Olympics.

"All sportsmen look towards the Olympics as the pinnacle of excellence, everyone wants to take part in them. Now what do we do? Give up wrestling? I hope the IOC will reconsider this decision."

An online petition at change.org entitled "The International Olympic Committee: Save Wrestling as an Olympic sport #SaveOlympicWrestling" has also been mounted, urging the US Senate to take up the matter.

By late afternoon on Wednesday, it had more than 21,000 signatures.

On Twitter, one user, @WrestlersLoveUs, wrote: "Ancient Olympic wrestlers used to sometimes fight to the death. IOC better understand we're ready to do that again. #SaveOlympicWrestling."

-AFP/fl

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Tension running high in Kashmir Valley

KASHMIR VALLEY: Tension is running high in Kashmir Valley, after India's secret execution of a Kashmiri man for his involvement in an attack on parliament in 2001.

A continuous curfew has been in place for four days now, as the government attempts to prevent further outbreaks of violence.

The curfew has brought life to a standstill in the valley.

Three people have died and at least 50 others injured in protests over India's execution of a Kashmiri militant, Afzal Guru, on February 9.

Farooq Ahmed, a resident, said: "This curfew isn't right. Even if someone is sick, the police won't let them leave. Yesterday, there was some stone pelting -- if someone got injured... it's not right. The curfew is making life very difficult for people."

While the police keep a strict vigil, making sure there is no movement on the streets, opposition leaders are speaking out against such extreme measures.

Mehbooba Mufti, an opposition leader from the People's Democratic Party, said: "What has happened is very bad. The consequence of this will negatively impact the psyche of the young generation."

It could take many days before life returns to normal in the valley.

For now, the Kashmir government may succeed in containing the situation.

However, there is still a considerable chance that violence could still break out. And that is not something the state government would look forward to, especially when things were beginning to return to normal after years of conflict.

- CNA/al

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US tornadoes strike southern states, 60 injured

MIAMI: Several powerful tornadoes ripped through the southern US states of Mississippi and Alabama injuring at least 60 people and destroying hundreds of homes at the weekend, emergency officials said Monday.

The city of Hattiesburg in Mississippi's Forrest County bore the brunt of the storms, with heavy rain continuing to lash the region and create a risk of flooding.

"Two people were critically hurt in Lemar County right next to Hattiesburg, but no deaths have been reported at this stage," Greg Flynn, a spokesman for the Mississippi Emergency Management Agency (MEMA), told AFP.

"Around 60 people are reported injured, but fortunately most injuries are minor," he said.

The bad weather, however, destroyed hundreds of homes and caused damage to the campus of the University of Southern Mississippi, authorities said.

A spokeswoman for the Alabama Emergency Management Agency (AEMA) said that while the area was hit by bad weather on Sunday it had so far received no reports of injuries.

The National Weather Service said flooding and flash flooding will become a concern if rainfall continues to add up across the lower Mississippi valley.

-AFP/ac

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