India defends move on Lanka

India’s Home Minister P Chidambaram has defended the decision taken by India to support the US sponsored resolution at the UN’s top human rights body censuring Sri Lanka for alleged rights violations in the war against LTTE, saying it would not have been carried as expected if the country had hesitated, the PTI news agency reported.“Had we not rendered our support, things would have been different… had we hesitated even a little, the resolution would not have been carried as expected by us,” he said. Pointing out that 24 countries, including India, had voted for it, 15 against and eight had abstained, Chidambaram expressed the confidence that even countries like Saudi Arabia and Pakistan could be ‘convinced” through India’s diplomatic approach. It had also asked Colombo to present as expeditiously as possible a comprehensive action plan on steps to implement the recommendations of the Lessons Learnt and Reconciliation Commission and address alleged violations of international law. On March 22, the 47-member UN Human Rights Council had adopted the resolution, noting with concern that an internal inquiry report in Sri Lanka does not adequately address “serious allegations” of violations of international law. read more

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Sprint Nextel posts 13B loss higher revenue in 4Q focus is on

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Peter Svensson, The Associated Press Posted Feb 7, 2013 3:16 pm MDT NEW YORK, N.Y. – Sprint Nextel Corp., the country’s third largest wireless carrier, on Thursday said it lost $1.3 billion in its fourth quarter, about the same as a year ago, as it revamped its network for a comeback versus bigger competitors.The company’s focus, and that of its investors, is on its long-term turnaround efforts rather than on short-term results. Sprint is selling 70 per cent of itself to Japanese carrier Softbank Corp. for $20 billion. That deal is expected to close this summer, and provide long-ailing Sprint with a much-needed infusion of capital.With Softbank’s backing, Sprint has struck a deal to buy out the other shareholders of Clearwire Corp., which operates a wireless data network. That should give Sprint more space on the airwaves and allow it to offer high broadband speeds.The Overland Park, Kan., company lost 44 cents per share in the October to December period versus 43 cents per share in the previous year.The loss was slightly smaller than analysts had predicted. The average Wall Street forecast as polled by FactSet was 46 cents per share.Revenue was $9 billion, up 3.2 per cent from $8.7 billion a year ago as customers converted from regular phones to higher-paying smartphones. It was slightly above analyst expectations at $8.9 billion.Sprint activated 2.2 million iPhones in the quarter, a record for the company, reached with the help of the new iPhone 5. The figure is far below those posted by bigger competitors AT&T and Verizon Wireless, but helps Sprint keep subscribers. It still lost a net 243,000 customers on contract-based plans in the quarter, as subscribers kept streaming off the Nextel network, which Sprint is shutting down.Network chief Steve Elfman said the upgrade of the company’s cell towers is on schedule despite the ravages of Superstorm Sandy. The company has lit up “LTE” antennas, which provide higher data speeds, in 58 cities and plans to light up another 170 in coming months. Verizon Wireless and AT&T got started on LTE earlier and have bigger networks up and running.Sprint shares slipped 7 cents to $5.70 in afternoon trading. The previously volatile shares have been trading in a relatively narrow band between $5.40 and $6 since the Softbank deal was announced in October. The price reflects what Softbank is set to pay. Sprint Nextel posts $1.3B loss, higher revenue in 4Q, focus is on network renovation, deals read more

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