BBC Central London Office Evacuated After Threat

www.newsbharati.com BBC Central London Office Evacuated After Threat.

BBC Office Evacuated

BBC's central London office and surrounding areas evacuated after threat

As per different media reports, the BBC's offices in London, Great Portland Street were evacuated and the area cordoned off by the police on Tuesday. Even London Bridge was evacuated after a 'suspicious item' was found. Hays Galleria, a shopping district in downtown London was also cleared.



According to ITV, BBC office in central London and nearby offices were evacuated due to a suspicious vehicle which was parked nearby. Meanwhile, the Independent reported that the Metropolitan police received a call shortly after 2 pm BST and the caller reportedly said: “There is a suspicious vehicle and a full evacuation has taken place.”

Along with BBC offices, the area houses Chinese and Polish embassies, Kenya High Commission and the headquarters of the Royal Institute of British Architects. The details are yet be awaited





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IMF Declared China's Renminbi as Main World Currency

www.newsbharati.com IMF Declared China's Renminbi as Main World Currency.



China’s Renminbi Is Approved by I.M.F. as a Main World Currency HONG KONG — The Chinese renminbi was anointed as one of the world’s elite currencies on Monday, a milestone decision by the International Monetary Fund that underscores the country’s rising financial and economic heft. FROM OUR ADVERTISERS The move will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. Just four other currencies — the dollar, the euro, the pound and the yen — have the I.M.F. designation. But the path to the I.M.F. decision, a bumpy process that stretches back years, also introduced new uncertainty into China’s economy and financial system. To meet the I.M.F. requirements, China was forced to give up some of its tight control over the currency, culminating in the abrupt devaluation of the renminbi that shook global markets in August. The changes could inject fresh volatility into the country, at a time when its economy is already slowing. The I.M.F. designation, an accounting unit known as the special drawing rights, bestows global importance. Many central banks follow this benchmark in measuring their reserves, which countries hold to help protect their economies in times of trouble. By adding the renminbi to this group, the I.M.F. effectively says that it considers the currency to be safe, reliable and freely usable. It is a “recognition of the progress that the Chinese authorities have made in the past years in reforming China’s monetary and financial systems,” Christine Lagarde, the managing director of the I.M.F., said in a statement in Washington. “The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy.” The designation is a point of pride for Beijing, which had made it one of its highest economic policy priorities. In the months before the fund’s decision, China moved aggressively to expand the currency’s standing on a global stage, building trading hubs in Europe and developing a raft of renminbi-denominated bonds and commodity contracts. In devaluing the currency, China changed the way it sets the value of the renminbi each morning, allowing market forces to play a bigger role. The I.M.F. decision also says a lot about the waning influence of Europe: The renminbi is mainly replacing part of the euro’s role in the special drawing rights. Assessing currencies for the accounting system, the fund put a greater emphasis on their different roles in international finance. The dollar still dominates in finance and trade, while the renminbi is quickly gaining ground on the euro. The United States Treasury said it “supported” the I.M.F. decision. Besides its symbolic weight, the I.M.F. label, which will take effect at the end of September next year, carries specific benefits. The renminbi will become one of the currencies used in the disbursement and repayment of international bailouts denominated in the fund’s accounting unit, like Greece’s debt deal. The renminbi’s new status “will improve the international monetary system and safeguard global financial stability,” President Xi Jinping of China said in mid-November. While the renminbi may gain favor internationally, the I.M.F. designation does not mean that China’s economic overhaul is complete. China maintains heavy regulatory control over the country’s financial system. The country also falls short in legal protections, with the Communist Party continuing to play a strong role in deciding court cases. Such issues could limit the overall appeal of the renminbi — and China’s ambitions. “It is a historic moment in international finance for an emerging market economy, with a per-capita income barely a quarter that of other reserve currency economies, to be anointed as the issuer of one of the world’s major reserve currencies,” said Eswar Prasad, a former head of the I.M.F.’s China division who is now the Tolani Senior Professor of Trade Policy at Cornell University. But “the most likely scenario is that the renminbi will erode but not seriously rival the dollar’s status as the dominant global reserve currency.” The changing currency dynamics also create new geopolitical concerns. As the renminbi becomes more deeply woven into the global economy, it undermines the ability of the West to impose financial sanctions on countries accused of human rights abuses and other violations, like Sudan and North Korea. Such countries can increasingly carry out transactions in renminbi.

Turkey rejected Russia's Syria Oil Trade Allegations as Wrong

www.newsbharati.com Turkey rejected Russia's Syria Oil Trade Allegations as Wrong.

Turkey challenges Russia over Syria oil trade claim

Turkey has challenged Russia to prove its claim that Ankara down a Russian plane in order to protect its oil trade with . "If you allege something you should prove it," Turkish President Recep Tayyip Erdogan said. He was responding to the accusation by Russian President Vladimir Putin, who also said last week's downing of the plane was a "huge mistake". The Turkish government has refused to apologise for the incident. One Russian pilot was lost and the other rescued after Russia's Su-24 bomber was down by a Turkish F-16 fighter on the Syrian border on 24 November. A Russian marine was during the rescue operation in north-western Syria. Turkey says the jet entered its airspace - an accusation Russia denies. The US state department has said evidence from Turkish and US sources indicates the aircraft did violate Turkish airspace. Turkey has denied any ties to and is part of a US-led coalition carrying out air strikes against the group.

"You should put your documents on the table if you have any. Let's see the documents," Mr Erdogan said. "We are acting with patience. It is not positive for the two countries which have reached a position which could be regarded as a strategic partnership to make emotional statements." President Erdogan also vowed to step down if the allegation that Turkey was buying oil from proved true, suggesting that President Putin should do the same if he was wrong.

Russia has been carrying out air campaign in Syria, targeting rebels against Syrian President Bashar al-Assad, including Turkey is a vehement opponent of Mr Assad and has been accused of turning a blind eye to jihadist fighters crossing from its territory into Syria. Until a few months ago, Turkey was reluctant to play an active role in the coalition against  However, in August it allowed the US-led coalition to begin using its airbase at Incirlik. Russia has imposed sanctions on Turkey over the downing of the plane, including restrictions on imports of Turkish food and an end to visa-free travel. earns much of its money from illegal sales of oil. However, Turkey has staunchly denied that it is involved in the trade. "We have every reason to think that the decision to shoot down our plane was dictated by the desire to protect the oil supply lines to Turkish territory," Mr Putin said at a news conference in Paris on Monday. He said Russia had received more information to show that oil was passing through Turkish territory. Turkey and Russia have important economic links. Russia is Turkey's second-largest trading partner, while more than three million Russian tourists visited Turkey last year. President Erdogan said Turkey would act "patiently, not emotionally" before deciding its response to the economic sanctions.





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Beijing- China Air Pollution Reaches at Hazardous Levels

www.newsbharati.com  Beijing- China Air Pollution Reaches at Hazardous Levels



Beijing engulfed in worst air pollution levels

Schools in Beijing were ordered to keep students indoors Tuesday after record-breaking air pollution in the Chinese capital soared to up to 35 times the safety levels

The pollution spike is a reminder of China's severe environmental challenges as President Xi Jinping joins other world leaders at the Paris climate conference.



Factories and construction sites were told to reduce work after the city government on Sunday issued its first orange alert — the second highest of four warning levels — in almost two years.



On Monday, concentrations of airborne particles smaller than 2.5 microns in diameter, or PM2.5, peaked at 900 micrograms per cubic meter in southern Beijing. Such particles are especially damaging to lung tissue. The World Health Organization's recommended maximum is 25 micrograms per cubic meter.



Visibility fell to several hundred meters (yards), leaving buildings silhouetted in the haze. People complained of a smoky, pungent odor and many wore tight-fitting face masks.



"I felt like my lungs were blocked," said Xu Pengfei, a security guard at a downtown office building. "We have to stand in the open for many hours a day, and the pollution really affects us."



China's cities are among the world's dirtiest after three decades of explosive economic growth that led to construction of hundreds of coal-fired power plants and the spread of automobile ownership.



Communist leaders have tightened emissions standards and are investing in solar, wind and other renewable energy. But the country still depends on coal for more than 60 percent of its power.



Tests found coal burning to be to blame for the bulk of the latest pollution surge, the official Xinhua News Agency said, citing Zhang Dawei, head of the city's environmental monitoring center.



Power demand soared due to unusually cold weather in November. For most of that month, the capital was shrouded in persistent smog.



Air quality worsened on Friday and deteriorated throughout the weekend. Authorities said they avoided issuing the highest-level alert because conditions were forecast to improve by Wednesday.



Beijing schools were ordered to stop outdoor activities. A primary school in the Xicheng district on the west side sent a message to parents that classes were canceled Tuesday.



Conditions were worsened by cold air that trapped pollutants near the ground, according to Zhang, the environment official. He said pollution from surrounding areas also blew into the capital.



Outside Beijing, readings for PM2.5 were was as high as 976 micrograms in the suburban region of Liulihe.



Several cities in the northern province of Hebei, which surrounds Beijing, also reported extremely polluted air.



Inspectors from the Ministry of Environmental Protection found some construction projects flouted orders Monday to stop work that could raise dust, according to Xinhua.



Outside Beijing, reduced visibility due to heavy fog prompted authorities to close 1,553 highway sections in central, eastern and southern China, the Transportation Ministry said on its website.