Euro under pressure with Greece's debt talks stumble

LONDON (Reuters) - The euro fell on Monday to its lowest level in nearly two weeks against the Swiss franc, considered a safe haven after attempts to break the deadlock between Greece and its creditors failed over the weekend.

The talks, which took place on Sunday, one hour did not last, indicating significant differences between the two sides.

The euro slipped to 1.0422 Swiss francs, its lowest level since the third of June, then improved to 1.0465 thus stable compared with the previous close. The single currency fell 0.3 percent to $ 1.1230 to stray more from a peak last week of $ 1.1387.

And the euro helped the dollar index losses to rise 0.2 percent to 95.167 and away from its lowest level in nearly a month 94.322 hit last week. The US currency rose 0.2 percent to 123.58 yen.

CITATION FROM REUTERS EDITION :http://goo.gl/k6FPNN

India scraps import duties on AIDS drugs to battle shortage

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MUMBAI, June 11 (Reuters) - India has scrapped customs import duties for drugs and test kits used to treat AIDS in an effort to cut prices across the country, as it struggles to cope with an ongoing shortage in its national program to fight the disease.

More than a third of India's 2.1 million HIV/AIDS patients depend on getting their daily antiretrovirals for free from state-run distribution centres, but many of them have been facing shortages or stock outs for months.

The notice put out by the Central Board of Excise and Customs this week intends to make it cheaper to import raw materials that are used to make antiretrovirals under the national program, BB Rewari of the National AIDS Control Organisation (NACO) told Reuters.

Currently, U.S. firm Mylan Inc and India's Aurobindo Pharma supply AIDS drugs to the government program.

The exemption applies to certain first-line and second-line antiretroviral drugs used to treat adults and children, as well as to certain diagnostic kits and equipment that are used by NACO, Rewari said.

He added the drugs under exemption make up roughly 95 percent of the antiretrovirals used by India's AIDS patients under the national program.

The exemption, which will remain in effect until March 2016, is the national AIDS control department's latest effort to deal with a chronic shortage of HIV/AIDS drugs at home, even though Indian companies are some of the world's major suppliers of AIDS drugs. Local firm Cipla Ltd made headlines in 2001 by making antiretrovirals for Africa for under $1 a day.

The AIDS control program has been in disarray for months after the government changed the way over $1.3 billion in federal funds were distributed, according to data and letters seen by Reuters.

Construction of clinics in rural areas has been delayed and many health workers have quit.

Government officials have previously told Reuters of a lack of participation by local drugmakers in the tenders floated by the National AIDS Control Organisation (NACO) to procure drugs.

Industry insiders, meanwhile, cite delayed tender approvals, supply bottlenecks and late payments, as well as poor coordination between the central and state governments.

AIDS drugs sold on the open market are expensive, so in an effort to make those more affordable, the government is likely to add more AIDS drugs under price control by including them in the national list of essential medicines, people involved in the process told Reuters in April.

citation from  zawya : https://goo.gl/72Jh21

Kuwait to table corporate tax bill in 2 years - finance minister

LONDON, June 8 (Reuters) - Kuwait expects to table a bill to harmonise corporate tax rates between local and foreign firms in around two years' time, offering incentives to key sectors like telecoms and IT, the country's finance minister said on Monday.
Kuwait said in April it was studying proposals to introduce the same levy for domestic firms, which generally pay little or no tax on income, and foreign companies, whose commercial activities are taxed with a rate of 55 percent in the highest bracket. 

"We are looking at many, many scenarios ... but we are definitely looking at matching them," Finance Minister Anas al-Saleh told Reuters on the sidelines of a conference in London. 

"We need to draft legislation ... in 24 months we should have a law that can go to parliament." 

Saleh expected the rate for international firms to fall and the levy on local companies to rise, though he declined to indicate a level. He added the government was also looking at introducing tax breaks for companies operating in key sectors like IT, telecommunications and petrochemicals. 

"There will also (be) incentives, incentives to encourage corporates to focus on certain sectors that are needed for our economy," he said. 

Introducing a new corporate tax will be politically sensitive in Kuwait, which has seen pressure on its state finances because of the plunge in oil prices. Officials say they want to diversify revenue sources beyond oil. 

Saleh reiterated there were no plans to introduce income tax for individuals. 

citation : taken from zawya - https://goo.gl/4jAxyZ

Indian Maggi sales halted in Dubai

Sunday, Jun 07, 2015

Dubai: A Dubai Municipality official confirmed shops have been asked to halt sales of Maggi noodles made in India.

Officials in India have said samples of Maggi made in India tested positive for unacceptably high levels of lead.

Maggi maker Nestle has said its internal tests, as well as external lab reports, showed Maggi is safe to eat but has voluntarily recalled the product from shops in India on a temporary basis.

In India, there is an official ban on sale of locally made Maggi in some Indian states while other states continue to sell it.

In Dubai, Maggi made in Malaysia, rather than in India, is imported and distributed to local retailers, Nestle Middle East and Dubai Municipality have said, adding that the product is safe.

However, some Dubai shops directly import Maggi from India to cater to mostly Indians who prefer Maggi flavours and varieties made in India.

Following developments in India, Dubai shops have been asked to stop selling Maggi made in India, said Khalid Al Awadhi, Director, Food Control Department, Dubai Municipality .

There is no change in policy towards Maggi made in Malaysia and shops can continue selling that, he added.

Meanwhile, Nestle continues to maintain all Maggi products, regardless of their origin, are safe to eat. It said in a statement that it “reassures consumers in the Middle East that all Maggi products sold are safe and compliant with the highest quality standards.

“We are continuously engaging with authorities in our region and we thank them for their active collaboration.

“Quality and food safety are our top priority and we perform regular tests on our raw material and finished products to ensure food safety and full compliance”.

Dhananjay Datar, managing director of retail chain Al Adil Trading, said the company has destroyed its stock of Maggi made in India. He added that following a query on the status of Maggi made in India, there was an instruction from the municipality on Friday to stop sales of the product.

Hypermarket chain Lulu Middle East earlier said the Maggi noodles sold in their shops are not from India.

“All the Maggi noodles sold here in our shops are from Nestle Middle East and sourced from Malaysia. We don’t import from any other country,” V. Nandakumar, chief communications officer at Lulu Group, had said.

Citation - Taken from ZAWYA : https://goo.gl/Qgu8FP

ARE YOU LOSING SLEEP OVER YOUR SMARTPHONE?

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Friday, May 29, 2015

Dubai: While convenient, keeping your mobile phone at arm’s length when one is sleeping has proven to affect quality of sleep, and even health.

Research conducted by several universities and doctors has shown that radiation emitted from mobile phones, especially 3G and 4G-enabled smart phones, delays and disrupts sleep.

Dr Saeed Taghizadeh, specialist neurologist at Prime Hospital, pointed out that electromagnetic radiation emitted by mobile phones also interferes with the body’s ability to heal.

He referred to research led by by Professor Bengt Arnetz, a Swedish professor at the Massachusetts Institute of Technology, which found that using a handset right before bed prolongs the amount of time it takes for people to reach a deep state of sleep.

“Anything that disrupts the quality of our sleep impacts our attentiveness and irritability in the short and long term.”

While productive sleep helps our bodies recover form the stresses of the day, the affects of being exposed to cell phone radiation through out the night is more likely to be evident in children and adolescents.

Dr Taghizadeh explained that sleeping beside a phone is especially bad for children and teenagers who typically need more sleep than adults.

“It can cause mood and personality changes such as [attention deficit hyperactivity disorder] ADHD-like symptoms and depression.”

Dr Fatima Nazir, general practitioner at Gardens Speciality Clinic, told Gulf News that experts are concerned about the effects of the radiation, as some research suggests that sleeping with your mobile by your bedside can cause dizziness and headaches, and can even trigger insomnia and other sleeping disorders.

“At the very least it makes us hyper vigilant so our sleep is more likely to be disturbed and we don’t get enough of the restorative sleep we need,” said Dr Nazir.

What happens when you sleep?

The hormone cortisol that signals us to wake up, and the hormone melatonin, which makes us sleepy are controlled by the light-sensitive cells in the brain.

“Light stimulates cells in the retina, the area at the back of the eye that transmits messages to the brain, and the light-sensitive cells inform the body what time it is,” explained Dr Fatima. When sleeping beside a mobile phone or tablet, the blue light emitted from the device has a stimulating effect. The cells in the retina are most sensitive to blue light because of a pigment called melanopsin, which is why reading on a phone or a tablet before bed is more likely to keep a person awake than reading a book using a bedside light.

“For this reason, experts advise a ban on screen time two to three hours before bed,” said Dr Fatima.

With smart phones replacing most traditional devices such as alarm clocks and flash lights, sleeping with your phone in the next room can be a big inconvenience.

However, it can be the solution for a good night’s sleep.

Citation - Taken from ZAWYA : https://goo.gl/NLJrcO