Month: February 2018

Robots Replacing Workers Is Nothing New

From mowing the grass and cleaning windows to making deliveries at hotels and hospitals, even child and elder care, robots of all shapes and sizes are doing things humans have been doing for years. 

These types of machines can also do things humans cannot.

“It can work all day, 24 hours a day, and it doesn’t get emotional. It’s always welcoming with a smile,” said Simon Wang of the Beijing Canny Unisboro Technology Co. Ltd. 

He said the machines’ ability to work around the clock makes them cheaper than hiring a human employee. 

“It will be the cheapest member of your team for sure,” said Steve Cousins of Savioke, a company that makes hotel and hospital delivery robots for rent around the world.

A Chinese-made, Mandarin-speaking robot named UU is already working in the service industry. He dances, tells jokes and provides information.

“For example, it can be a shopping center, hotel, restaurant, some convention centers, galleries as a guide…,” Wang said, adding the UU robot is already working in China “in a hospital setting, in a clinic, to diagnose problems and to answer some medical questions.”

Adapting technology

Adapting technology to perform humans’ work is nothing new.

“Go back to ploughs or go back to tractors, those are the beginning of adding technology to work to make workers more productive. A spreadsheet is not smarter than you, but it is faster at calculations. It’s just different, and so when you put a spreadsheet in an accountant’s hands, you make that accountant much, much more productive. The same thing with robots,” Cousins said.

Robots are getting smarter. A demonstration at the Consumer Electronics Show last month showed a robot playing the English word game Scrabble against a human opponent, and winning.

“Its (the robot’s) main point is not to replace people’s jobs. It is to help people do really complicated work,” said Hu Ji Ping of the Industrial Technology Research Institute.

In addition to doing complicated work, robots are also doing dull, dirty and dangerous work.

A robot called RoboMantis can do unsavory work, so a person does not have to be in those situations.

“Confined spaces, refinery tank cleaning, things like that where you can really take advantage of a robot that can go in and work for hours on end without endangering a human in those situations,” said Chris Thayer of California-based Motiv Robotics that makes the RoboMantis.

Robots can also do work that is so repetitive, such as in agriculture, that no one wants to do it, Thayer said.

“…picking, maintenance, a lot of things of that kind, caring for the plants themselves in a certain very specific way that needs to be done, and they aren’t getting those workers in regardless of seasonal, not seasonal, whatever it may be. It’s just a labor shortage,” Thayer said.

“I guess there are people who do just put a plug in a hole one after the other, all day long. Those people have already been replaced by robots, and those were pretty horrible jobs anyway,” said Cousins.

Wang said bosses love robots, but they are not a threat to people, yet.

“Robots will free people up to do more specialized work that can only be learned by a human’s intellect,” Wang said. “I don’t think a robot will completely replace a human’s mind currently or in the next 10 years, I haven’t found this kind of danger.”

The consensus among technologists: Robots are here to assist and not to replace. However, humans may have to continue to learn more specialized skills to stay ahead of what a robot can do.

Indian Fake Doctor Infects 21 With HIV With Tainted Syringes

A fake doctor treating poor villagers in northern India for colds, coughs and diarrhea has infected at least 21 of them with HIV by using contaminated syringes and needles, a health official said Tuesday.

 

Sushil Choudhury, the official, said police were looking for Rajendra Yadav, who fled Bangarmau, a small town in Uttar Pradesh state, after the HIV infections were detected in December last year.

 

The villagers said they rarely saw Yadav changing the needles. Choudhury said that probably led to the spread of HIV.

 

With India’s health care system facing a massive shortage of doctors and hospitals, millions of poor people seek fake doctors for cheap treatment.

 

India had 2.1 million people living with HIV at the end of 2016, according to a UNAIDS report. Of those, 9,100 were children under age 15. India has registered a 20 percent annual decline in new infections over the past few years, according to the report.

 

Yadav would visit villages on his bicycle and treat patients outdoors. Villagers complained that he would give injections for almost all ailments for meager payments, Choudhury said.

 

A sudden spurt in HIV cases in and around Bangarmau detected in December last year alerted state authorities. “An investigation showed that almost all of them had taken injections from one person,” Choudhury said. “This was an important lead. We set up special medical camps in villages in the area and checked 566 people, and 21 were found to be HIV positive.”

 

Mehtab Alam, a project manager for Raza Hussain Memorial Charitable Trust, said that fake doctors do not use disposable syringes, instead using glass syringes and one needle to inject hundreds of patients. The group works with HIV and AIDS patients in the region.

 

“Villagers are ignorant about hygiene,” he said.

 

HIV — or the human immunodeficiency virus — is transmitted through blood transfusion, use of infected needles and syringes, unprotected sex, or from mother to child. It weakens the body’s immune system, making it susceptible to various infections. Over time, an HIV infection can develop into AIDS, a progressive failure of the immune system that leaves the body open to life-threatening infections and cancers.

 

 

Misery on US Stock Market Spreads to Asia Tuesday

Asia’s benchmark stock indexes collapsed Tuesday, as Monday’s massive selloffs on Wall Street rolled across the globe. 

Japan’s Nikkei 225 index lost as much seven percent of its value at one point during the trading session, before closing at 21,610 points, a loss of nearly five percent. Hong Kong’s Hang Seng index followed suit, dropping just over five percent in its worst trading day since August 2015. 

The benchmark indexes Australia and South Korea also suffered serious losses.

In early Europe trading London’s FTSE 100 was down 3.5 percent at 7,081 points.

Asian markets were caught in the ripple effect of Monday’s 1,175-point loss on the Dow Jones Industrial Average, marking the biggest point decline in history. The S&P (Standard and Poor’s) 500 also had a bad day, losing just over four percent to finish at 2,648 points. 

The stock market has now lost about a trillion dollars in value since Friday, when the Dow lost 666 points. That drop followed a solid jobs report that showed the U.S. economy adding 200 thousand jobs and wages rising at the fastest pace in a decade. The tighter labor market and rising wages prompted investor fears of higher inflation and the possibility that the U.S. Federal Reserve would raise interest rates faster and higher than they have in recent years. 

Analysts who spoke with VOA had been expecting a stock market “correction” (a decline of about 10% from recent highs) as a result of the record run up in stock prices this year.

SpaceX Bucks Launch Tradition in First Flight of New Rocket

SpaceX is bucking decades of launch tradition for the first test flight of its new megarocket.

 

The Falcon Heavy is set to become the world’s most powerful rocket in use Tuesday when it blasts off from Florida’s Kennedy Space Center. None of the usual, no-big-deal-if-it’s-destroyed launch ballast — like steel or concrete slabs, or mundane experiments — for this curtain raiser.

 

Instead, the rocket will be hauling a red sports convertible with a space-suited dummy at the wheel and David Bowie’s “Space Oddity” on the soundtrack. It’s the inspiration of Elon Musk, the high-tech, science fiction-loving maverick who heads SpaceX and electric carmaker Tesla.

 

On the eve of the launch, Musk said he’s at peace with whatever happens, be it a successful test flight or an explosive failure.

 

“It’s guaranteed to be exciting, one way or another,” Musk said Monday in a phone conference with reporters.

 

Musk said he normally feels “super stressed out” the day before a launch. “This time I don’t, so that may be a bad sign.”

 

The hope is that any failure comes far enough into the flight “so we at least learn as much as possible along the way.”

 

More about Tuesday afternoon’s planned launch:

 

Rocket Stats:

 

The Falcon Heavy has three first-stage boosters, strapped together with 27 engines in all. Stretching 40 feet (12 meters) at the base and standing 230 feet (70 meters) tall, the Heavy is a triple dose of the Falcon 9, the company’s frequent flyer with just a single booster. At liftoff, the Heavy packs about 5 million pounds of thrust. That’s more liftoff punch than any other rocket currently operating in the world — by a factor of two — but less than NASA’s old space shuttles and Saturn V moon rockets. Two of the Heavy’s boosters are recycled; they have flown on previous Falcon 9 launches. Once spent, they will aim for side-by-side vertical touchdowns at Cape Canaveral. The brand new, center core will attempt to land on an ocean barge.

 

Car Stats:

SpaceX’s Elon Musk also runs the electric carmaker Tesla. So in a bit of cross-marketing, he’s put his own cherry-red Tesla Roadster on the Heavy’s inaugural flight. It is one of the car company’s original Roadsters.

No car has ever rocketed into space before, if you don’t count NASA’s Apollo-era moon buggies, still parked on the lunar surface. The Federal Aviation Administration had to sign off on the Heavy-Tesla combo. It’s at the top of the rocket, enclosed for liftoff. The protective cover will drop away, allowing the car to travel on its way. Three cameras are mounted on the Roadster that should provide “some epic views if they work and everything goes well,” Musk said.

 

Destination:

SpaceX is targeting a long, oval orbit around the sun for the Roadster that will take the car as far out as Mars, and have it making laps for a billion years. If the convertible makes it into space in one piece, it still must endure several hours of deep-space coasting through the high-energy Van Allen radiation belts encircling Earth. Musk said Monday that the car could come fairly close to Mars and that there’s an “extremely tiny” chance it could crash into the planet. But he quickly added, “I wouldn’t hold your breath.” Musk’ intent on establishing a city on the red planet, with hordes of Earthlings and building materials flying there on a super-extra-mega SpaceX rocket that is still in development.

 

Historic Departure Point: 

The Falcon Heavy is flying from the same launch pad used by NASA to send men to the moon. SpaceX leases Launch Complex 39A from NASA. Not only did LC-39A, as it’s known, serve as the departure point for all the Apollo moonshots from 1968 to 1972, it was the scene for most of the space shuttle liftoffs. It’s location at Kennedy Space Center keeps people at least three miles away, a distance determined by NASA in the 1960s to be safe just in case the Saturn V exploded on the pad.

 

Competition: 

Blue Origin, an aerospace company run by another billionaire, is developing a large orbital-class rocket that promises to give Heavy an out-of-this-world run for its money. Amazon’s Jeff Bezos, the force behind Blue Origin, offered Musk “best of luck” Monday. “Hoping for a beautiful, nominal flight!” Bezos wrote via Twitter. In the language of rocket scientists, “nominal” means the rocket behaves and the cargo reaches its target. NASA, meanwhile, is sinking billions of dollars into a massive new rocket called the Space Launch System, or SLS, that’s meant to return astronauts to the moon and also get them one day to Mars.

 

Future Flights: 

SpaceX already has customers lined up for the Falcon Heavy. The rocket is designed to hoist supersize satellites as well as equipment to the moon, Mars or other far-flung points. The private company’s online flight manifest shows the U.S. Air Force as already signed up. SpaceX has changed its mind about carrying people on the Heavy, Musk said, preferring to use the super-duper rocket under development.

Arachnophobes Take Heed: Ancient Spider Had Whip-like Tail

If you are not a fan of spiders, you may not like the creepy little arachnid scientists found entombed in chunks of amber from northern Myanmar. Unlike its spider cousins alive today, this guy had a tail.

Scientists on Monday described four specimens of the arachnid, called Chimerarachne yingi, that inhabited a Cretaceous Period tropical forest about 100 million years ago during the dinosaur age. Alongside modern spider traits such as a silk-producing structure called a spinneret, it possessed a remarkably primitive feature: a whip-like tail covered in short hairs that it may have used for sensing predators and prey.

“It is a key fossil for understanding spider origins,” said paleontologist Bo Wang of the Chinese Academy of Sciences. “Our new fossil most likely represents the earliest branch of spiders, and implies that there was a lineage of tailed spiders that presumably originated in the Paleozoic (the geological era that ended 251 million years ago) and survived at least into the Cretaceous of Southeast Asia.”

Despite its fearsome appearance, the fanged Chimerarachne was only about three-tenths of an inch (7.5 mm) long, more than half of which was its tail.

University of Kansas paleontologist Paul Selden said Chimerarachne represents “a kind of missing link” between true spiders and earlier spider forerunners that had tails but lacked spinnerets.

“Chimerarachne could be considered as a spider. It all depends on where we decide to draw the line,” Selden said. “I am sure arachnophobes would not like this animal, except that it is only a few millimeters long, so it would be living almost unseen by them.”

The earliest arachnids, a group including spiders, scorpions, mites, ticks and others, dates to about 420 million years ago. The oldest-known true spiders lived about 315 millions year ago.

Numerous animals and plants have been found beautifully preserved inside amber, which is fossilized tree resin. Many important amber finds have been made in Myanmar. Chimerarachne may have lived under bark or in the moss at the foot of a tree.

“All four specimens are adult males, which would have been roving around looking for females at this point in their lives,” Selden said.

“Chimerarachne most likely wove a sheet web, and possibly a burrow lined with silk. Spiders use silk for a great many purposes, of which prey-capture webs is just one. Egg-wrapping is a vital function for spider silk, as well as laying a trail to find its way back home.”

The research was published in the journal “Nature Ecology & Evolution.”

As US Stocks Plummet, Trump Goes Silent on Role in Markets

As U.S. stocks plunged on Monday, President Donald Trump was speaking at an event in Ohio but noticeably not taking credit for the market despite doing so repeatedly when stocks were rising.

The stark contrast was a sign that Trump may be absorbing a tough message, underscored by former White House advisers, that American presidents traditionally have avoided commenting directly on Wall Street’s fickle trends.

Gene Sperling, a top economic adviser to Democratic former presidents Bill Clinton and Barack Obama, said Trump erred in recent months by focusing so heavily on the stock market.

“Even though the stock market tripled under Bill Clinton, his view was that you should always focus your policies and your public messages on bread-and-butter kitchen table issues … and that focusing on the stock market would take your eye off the real economy,” Sperling said.

White House spokesman Raj Shah, in an adjustment to the administration’s message on stocks, told reporters aboard Air Force One en route to Trump’s speaking event in Ohio, “Look, markets do fluctuate in the short term. We all know that … But the fundamentals of this economy are very strong and they’re headed in the right direction.”

Throughout a speech at a factory in Blue Ash, Ohio, Trump made no mention of stock markets. That departed sharply from past practice.

In his State of the Union address last week, Trump said, “The stock market has smashed one record after another, gaining $8 trillion and more in value in just this short period of time.”

‘Tremendous Benefits’

On Jan. 7, he wrote on Twitter, “The Stock Market has been creating tremendous benefits for our country in the form of not only Record Setting Stock Prices, but present and future Jobs, Jobs, Jobs. Seven TRILLION dollars of value created since our big election win!”

Three days before that, he tweeted, “Dow just crashes through 25,000. Congrats! Big cuts in unnecessary regulations continuing.” He had sent similar tweets for months.

 

The Republican president told Reuters in a Jan. 17 interview he has been getting kudos from people grateful for increased 401(k) retirement plan values and he believed the rise would not have happened if his Democratic opponent Hillary Clinton had won the 2016 presidential election.

“If the Democrats won the election, the stock market would have gone down 50 percent from where it was, and now look at the percentage increase. It’s a record increase,” Trump said.

Once the markets closed, the White House issued a statement saying Trump’s focus is “on our long-term economic fundamentals, which remain exceptionally strong, with strengthening U.S. economic growth, historically low unemployment, and increasing wages for American workers.”

“The president’s tax cuts and regulatory reforms will further enhance the U.S. economy and continue to increase prosperity for the American people,” White House spokeswoman Sarah Sanders said.

The benchmark Dow Jones industrial average soared 42 percent between Election Day 2016, when Trump won the presidency, and its historic peak a week ago above 26,400.

On Monday, the Dow fell to below 24,000 but regained some of its midday losses to close at 24,345. In the past five trading days, the index has erased all its gains since late November.

The benchmark S&P 500 has pulled back more than 6 percent from a Jan. 26 record high.

The “Trump rally,” as some traders have dubbed it, has coincided with a sweeping tax code overhaul approved in December, which slashed corporate taxes, and a deregulation push.

The S&P 500 rose 34 percent from Trump’s election to its recent high.

But stocks have been climbing since March 2009, when Obama inherited a serious financial crisis and the worst economic recession since the Great Depression of the 1930s. At that time, the Dow was trading at around 6,500.

Trump has also criticized his predecessor Obama’s effect on markets. In November 2012, Trump tweeted, “The stock market and U.S. dollar are both plunging today. Welcome to @BarackObama’s second term.”

The S&P 500 rose 126 percent from Obama’s 2008 election to his final day in office in 2017.

Former Obama press secretary Jay Carney on Monday tweeted, “Good time to recall that in the previous administration, we NEVER boasted about the stock market — even though the Dow more than doubled on Obama’s watch — because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.”

Doug Holtz-Eakin, president of the American Action Forum and a former economic adviser to 2008 Republican presidential nominee John McCain, said, “The president shouldn’t comment about the stock market. Indeed if anyone is going to make major pronouncements about economic data, it should be the Treasury secretary or the agency releasing the data, so if they get it wrong you can get rid of them. You don’t want the president owning those things.”

Nome, Alaska, Gets Fresh Review as Possible US Arctic Port

Federal officials will take another look at the historic Alaska community of Nome as a possible port serving ships heading for the Arctic.

 

The U.S. Army Corps of Engineers announced it has signed an agreement with the city of Nome to examine whether benefits justify costs of navigation improvements, said Bruce Sexauer, chief of civil works for the Corps’ Alaska District.

 

“The study will look at economic and social reasons to see if expanding the port is in the federal interest,” he said.

 

The study process generally takes three years and could culminate in a Corps’ recommendation to Congress to authorize port improvements, Sexauer said.

 

Alaska lacks deep-water ports along most of its west and northwest coast. The nearest permanent U.S. Coast Guard station is Kodiak more than 800 miles (1,287 kilometers) away.

 

Arctic marine traffic continues to grow and Nome, though south of the Arctic Circle, is well situated south of the Pacific chokepoint to the Arctic, the Bering Strait, Sexauer said.

 

A joint federal-state study started in 2008 looked at alternatives for Arctic ports in the Bering and Chukchi seas. Nome became the top choice because of infrastructure already in place, including an airport that handles jets, a hospital and fuel supply facilities.

 

“It just needed to be bigger and deeper,” Sexauer said

 

However, economic justification for the port diminished in late 2015 when Royal Dutch Shell PLC drilled a dry hole in the Chukchi Sea and suspended its U.S. Arctic offshore drilling program.

 

“The benefits for a project at Nome went away, at least the oil and gas benefits,” Sexauer said. The Corps paused its study with the state and officially terminated it last month, Sexauer said.

 

The study with the city will again look at how a Nome port would aid marine traffic for petroleum development, mining and regional delivery of fuel and other products.

 

Federal law changed in 2016 to allow the Corps to also consider social benefits, such as support of search and rescue operations, national security and aid to communities to help them be sustainable.

 

The Port of Nome remains too shallow to handle large ships. Fuel tankers stay anchored in deep water and fuel is lightered to Nome.

 

Nome’s inner harbor in 2014 was just 10 feet (3 meters) deep and its outer harbor was less than 23 feet (7 meters) deep. The Corps that year looked at constructing docks up to 1,000 feet (305 meters) long and dredging to 35 feet (10.7 meters).

 

The Corps in late April has scheduled a planning meeting in Nome to detail the scope of the new study.

Glasses Capture 360 Video From Wearer’s Perspective

Imagine putting on a pair of glasses and immediately being able to record 360-degree video, hands free, regardless of what you are doing. It will soon be possible with glasses made by Orbi.

“We’re making the first 360-degree video recording eyewear,” said Adil Suranchin, chief of operations at Orbi, a company headquartered in Berkeley, California, with its software team in Russia and with hardware developed in Taiwan, Japan, China and Canada.

Pair of glasses, four lenses

The glasses have a built-in camera with four lenses, two in front and two in the back. The result is 4K resolution immersive video. The glasses allow video to be recorded from the user’s perspective.

“You put them on, press the button, and you can say goodbye to all the mounts and rigs and tripods required for current action cameras.” Suranchin continued, “Every camera has a field of view of 180 degrees so it allows you to capture a complete dome view.”

The dome view means if the person wearing Orbi’s glasses isn’t looking down when recording, the video will have an area where it is just black.

Privacy concerns

Video-recording glasses also raises privacy concerns of the people being recorded.

“We have LED indicators, LED lights that light on when the recording is being done so that all surrounding people would know that the recording is happening,” Suranchin said.

The video can be shared instantly, and the files are saved on an SD card. The glasses are water-resistant, polarized and can be pre-ordered for $399 to be shipped starting August.

Draghi: Too Early to Call Time on Money-Printing Stimulus

European Central Bank head Mario Draghi said Monday that it’s too soon to declare victory over weak inflation – indicating it would be premature to set a definite end date for the bank’s money-printing stimulus despite a strengthening economy.

Draghi’s statement to a session of the European Parliament in Strasbourg, France, said that continuing economic growth means inflation would eventually tick up toward the bank’s goal of just under 2 percent, from an annual 1.3 percent in January. 

“While our confidence that inflation will converge towards our aim of below, but close to, 2 percent has strengthened,” Draghi said, “we cannot yet declare victory on this front.”

He said that “new headwinds” had arisen from a recently stronger euro. The stronger currency can hurt exporters _ and therefore growth _ and makes it harder to raise inflation, since it reduces the costs of imports. The euro was little changed after Draghi spoke, trading around $1.242, down 0.3 percent on the day. 

Draghi offered no indication of any looming change in the bank’s statement that it would continue purchasing 30 billion euros ($37 billion) per month in bonds at least through September, and longer if necessary. The purchases pump newly created money into the economy, driving down longer-term interest rates in an effort to raise inflation and growth.

The ECB head said that “overall, while we can be more confident about the path of inflation, patience and persistence with regard to monetary policy is still warranted for underlying inflation pressures to build up and inflation to converge durably towards our objective.”

An end to the purchases would eventually mean higher long-term borrowing costs for governments and companies. The ECB’s stance is being closely watched in currency markets, which tend to send the euro higher against the dollar on any indication that the stimulus might come to an end. Monetary stimulus tends to lower a currency’s exchange rate, while interest rate increases tend to raise the exchange rate against other currencies. 

The ECB has made clear that interest rate increases will only occur well after the end of the purchases. That means the next rate increase likely won’t happen until sometime in 2019. Currently, the bank’s main benchmark interest rate is at a record low of zero.

Nigeria’s President Signs Order to Boost Local Production, Employment

Nigeria’s President Muhammadu Buhari on Monday signed an executive order aimed at boosting the local production of goods and create jobs in the west African country.

Buhari, a 75-year-old former military ruler, has frequently spoken about ending the OPEC member’s dependence on oil exports while also creating jobs by boosting local food production.

And in 2015, months after Buhari came to power in May of that year, the central bank restricted access to foreign currency to import certain goods in a bid to stimulate local manufacturing.

The president “ordered that all ‘procuring authorities shall give preference to Nigerian companies and firms in the award of contracts, in line with the Public Procurement Act 2007,'” said the presidency in a statement circulated on Monday.

“The executive order also prohibits the ministry of interior from giving visas to foreign workers whose skills are readily available in Nigeria,” added the statement.

Around four out of every 10 people in the country’s workforce were unemployed or underemployed by the end of September, according to data released by the statistics office in December.

The order states that consideration will only be given to a foreign professional, “where it is certified by the appropriate authority that such expertise is not available in Nigeria.”

The country, which has Africa’s largest population and biggest economy, in 2016 fell into its a recession largely caused by low oil prices and militant attacks on energy facilities in the Niger Delta region.

It emerged from recession in the second quarter of 2017, largely on higher on oil prices.

ECB Experts: US Tax Law Could Erode Europe’s Tax Base

Economists at the European Central Bank say that the U.S. corporate tax cut should lift the world’s largest economy in the short term but warn it could erode the tax base in European countries by intensifying global competition for lower rates.

In a short article released Monday, the ECB’s economists say that the cut in business taxes will provide a “significant fiscal stimulus” to growth in the U.S. in the short term. It warned that long-term effects were less clear, especially if the cut leads to larger U.S. budget deficits.

Effects on the 19-country eurozone were “highly uncertain and complex” but could include an erosion of the tax base if countries around the world compete by lowering their tax rates to attract businesses.

“Lower U.S. corporate tax rates raise the tax attractiveness of the United States relative to other countries,” the report said. “Prior to the reform, the U.S. corporate tax rate stood above the rates of all large euro area countries, while, after the reform, it is close to the lower end of rates in those countries.”

The legislation, which was pushed by President Donald Trump and signed into law in December, lowers the corporate tax rate from 35 to 21 percent, among other changes. The changes took effect January 1.

Meanwhile, the U.N.’s trade and development agency said that as multinational companies return an estimated $2 trillion to the United States because of the tax law, there could be “sharp reductions” in foreign direct investment worldwide.

The U.N. Conference on Trade and Development noted in their own preliminary report that the tax law includes a one-time tax on accumulated foreign earnings that could free up funds overseas to be repatriated.

UNCTAD Secretary-General Mukhisa Kituyi said the impact on investment in the developing world remains unclear.

The agency says nearly half of all global investment is in the United States or owned by U.S. multinationals, which have kept about $3.2 trillion in earnings overseas.

Agency officials said the main impact could come over the longer-term, as multinationals reassess their foreign investment portfolios and the effects of the tax reform play out.

UNCTAD says much will depend on how big multinationals respond. It said five technology companies — Apple, Microsoft, Cisco, Alphabet and Oracle — together hold over $530 billion in cash overseas, or about one-fourth of the total “liquid assets” believed to be available for repatriation.

US Regulators to Back More Oversight of Digital Currencies

Digital currencies such as bitcoin demand increased oversight and may require a new federal regulatory framework, the top U.S. markets regulators will tell lawmakers at a hotly anticipated congressional hearing on Tuesday.

Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, and Jay Clayton, chairman of the Securities and Exchange Commission, will provide testimony to the Senate Banking Committee amid growing concerns globally over the risks virtual currencies pose to investors and the financial system.

Giancarlo and Clayton will say current state-by-state licensing rules for cryptocurrency exchanges may need to be reviewed in favor of a rationalized federal framework, according to prepared testimony published on Monday.

Reporting by Michelle Price.

‘Heartwrenching’ Study Shows FGM Prevalent Among India’s Bohra Sect

Three quarters of women among India’s Dawoodi Bohra sect have undergone female genital mutilation (FGM), according to a study published on Monday which comes just weeks after government officials said there was no data to support its existence.

Campaigners hope the survey – the largest of its kind – will bolster calls for a law to ban the secretive ritual which they say causes physical, emotional and sexual harm.

One mother told how she feared her daughter would bleed to death after she was cut. A third of women believed the procedure had damaged their sex lives. Others spoke of emotional trauma.

Traditional circumcisers told researchers they had cut thousands of girls.

Masooma Ranalvi, founder of campaign group WeSpeakOut which commissioned the study, said the stories were “heartwrenching”.

“This report not only proves FGM does exist in India, but also shows how harmful it is,” Ranalvi told the Thomson Reuters Foundation. “Children are still being cut today. This must end.”

The year-long study – published on the eve of International Day of Zero Tolerance for FGM – includes 94 interviews with supporters and opponents of the practice.

The Dawoodi Bohra, a Shi‘ite Muslim sect thought to number up to 2 million worldwide, considers the ritual, known as khafd, a religious obligation although it is not mentioned in the Koran.

The procedure, which entails cutting the clitoral hood, is performed around the age of seven.

India’s Supreme Court is considering a petition to ban FGM. Campaigners were shocked in December when the women’s ministry told the court there was no official data or study supporting its existence.

FGM is more commonly linked to a swathe of African countries where cutters may remove all external genitalia.

Supporters of khafd told the Thomson Reuters Foundation that the ritual was a “harmless” cultural and religious practice.

The Dawoodi Bohra Women’s Association for Religious Freedom said the study did not represent the views of most Bohra women.

A spokeswoman said in an email that khafd and FGM were “entirely different” practices, and that there was “no place for any kind of mutilation” in the Bohra culture.

But the World Health Organization says FGM includes any injury to the genitalia.

One gynaecologist told researchers it would be easy to damage the clitoris if a girl struggled during the procedure which is done without anaesthesia.

Ranalvi said khafd was rooted in beliefs a woman’s sexual desire must be curbed, but it was “mired in secrecy” and few women dared speak out for fear of ostracisation.

The practice made headlines in 2015 when three members of the Bohra diaspora in Australia were convicted of FGM-related offences. Bohras in the United States face similar charges.

Respondents to the survey said Bohra girls from diaspora communities were now travelling to India to be cut.

Survivors of Female Genital Mutilation Say #MeToo

The #MeToo campaign against sexual abuse should include the stories of survivors of female genital mutilation (FGM), activists said ahead of a global day on Tuesday to raise awareness about the internationally condemned ritual.

Leyla Hussein, one of the first FGM survivors to come forward in Britain, urged people to use the #MeToo hashtag when posting about the practice on social media on Feb 6, the annual International Day of Zero Tolerance for FGM.

“It’s a shame the #MeToo campaign doesn’t include FGM,” said Hussein, founder of the London-based Dahlia Project, which provides counseling for women who have been cut.

“FGM is a form of sexual abuse, but yet again we’ve been left out,” she told the Thomson Reuters Foundation.

At least 200 million women and girls globally have undergone FGM, U.N. data shows. The ritual, involving the partial or total removal of the external genitalia, is practiced in about 30 African countries and parts of Asia and the Middle East.

Campaigners say the tradition – often justified for cultural or religious reasons – is underpinned by the desire to control female sexuality. It can cause serious health problems.

Hibo Wardere, a British activist who was cut as a child in Somalia, said both the #MeToo campaign and the global drive to end FGM were about “women having ownership of their bodies”.

Countless women and girls have taken to social media in recent months using the #MeToo hashtag to talk about their experiences of sexual harassment, abuse and rape.

The campaign was sparked last year after a slew of sexual harassment and assault allegations against Hollywood mogul Harvey Weinstein. The scandal has since engulfed many other celebrity figures across various industries.

”FGM is a form of sexual violence – of course it should be part of #MeToo,“ Wardere said. ”Being attacked because of our gender unites us.

“FGM is a way of controlling our sexuality, our bodies, our thoughts,” she added. “It’s a way to make you feel like nothing but a commodity that belongs to a man … That’s what we’re all fighting against.”

Some campaigners said conflating FGM with the sexual abuse highlighted by the #MeToo campaign could wrongly imply there was sexual gratification involved with the ritual.

They said FGM should be seen as child abuse, not sex abuse.

But Hussein said sexual assault was not about gratification.

“It’s about having power over someone,” she said. “When someone does FGM, it’s all about power.”

Samsung Heir Released from Prison

A South Korean appeals court suspended a jail sentence handed down to billionaire Samsung Electronics heir Lee Jae-young and ordered his immediate release from prison Monday.

The Seoul Central District Court had sentenced the 49-year-old Lee in August to five years in prison for bribery in connection with a scandal that brought down the country’s president Park Geun-hye.

The appeals court on Monday struck down several of the convictions and reduced the penalty on the remainder to a suspended prison sentence of two and a half years.

Four other Samsung executives convicted alongside Lee also had their sentences reduced, with the two who had been given prison terms similarly having their sentences suspended.

The case centered on payments Samsung made to Park’s secret confidante Choi Soon-Sil for which prosecutors argued they were intended to secure government favors.

Lee pleaded not guilty to charges that he used Samsung corporate funds to bribe Park.

He was also convicted of other offenses, including embezzlement, money laundering, sheltering assets overseas and perjury of parliament.

Prosecutors had sought a 12-year prison term for Lee at the appeals court. The appeals court ruling is expected to be appealed to the country’s supreme court.

Working Too Much and Moving Too Fast? Recharj Offers Solutions

Working for long hours as an IT consultant, Daniel Turissini used to always feel tired by the middle of his workday. He asked other business professionals around him about what they do and where they go to re-energize. The answers varied, from having a nap in their cars in the garages or a nearest hotel lobby, to just falling asleep at their work desk. Seeing a need and an opportunity he founded recharj, a place where professionals can go to take a quick rest. 

Need to Recharge?

Washington DC, the nation’s capital, is home to government agencies, financial institutions and all kinds of firms and corporations.

In the heart of this busy city, where people work for long hours, recharj opened a few months ago. People drop by from around the city for a break. 

After turning off all electronic devices, customers go to any of the sleep “cocoons,” separated by white curtains hanging from the ceiling. Inside these pods, bean bag beds, blankets and lavender scented eye-masks allow them to fall asleep to soft music. 

After a 20-minute nap, they’re awakened and go back to work refreshed.

recharj founder, Daniel Turissini, says his place offers the answer to our fast-paced lifestyle; an opportunity to slow down. 

“Some of the distractions that we’re facing today we’ve never seen before, like the smartphones tethered to our belts 24/7 so your boss can contact you at all hours at night or when you’re on vacation,” he says. “There is a challenge we really never had a generation ago. There’s a load of other challenges we’re facing today that wellness and life style changes, habit changes are critical to a sustainable life, to a long happy life.”

Sounds Invite Relaxation

To help clients improve their physical and mental wellness, recharj also offers guided sessions on meditation and mindfulness. Senior teacher, Page Lichens, uses different tools to help her students stay mindful of the moment.

“Listening to relaxing sounds allows them to step into a place of putting away other thoughts and lay back and listen,” she explains. “The sounds specifically have different areas where they’re working into different vibrations on the person’s body. So beyond that a lot of them would end up talking about the experience of lightness or floating. They were uncertain where they were, but they just relaxed deeper than having just to lay down, trying to sleep.”

The rejuvenating experience keeps customers coming back. Connor Garitty, an IT consultant, says he comes to recharge almost every day.

“I feel, I guess, like the day is just beginning instead of (thinking) ‘Oh my God how am I going to get through the rest of the day?’ I come here a lot at the middle of the day and after work. And even that is just as helpful because you’re energized,” he says.

Mari Aponte, a lawyer, says she feels tired and stressed out after hours of sitting down working. “What I like most about coming here is that I can breathe, whereas my morning is very crazy. I drink a lot of coffee and I’m like moving too much, too fast. So, I come here, it helps stop time and just balance my day.” Guided meditations help Aponte relieve her physical tension as well.

“A lot of the things that they do includes a full body scan,” she says. “So, you can check and see which areas you’re carrying more stress, and which areas you can soften. My problem is usually here, in my jaws. This is where I hold my tension. So, it helps me loosen this area.”

Recharging Workplace 

recharj’s experts also offer wellness workshops at workplace. 

“The companies now are understanding that not only is there so much goodwill involved in treating your employees and educating them on health and wellness and lifestyle, but also there is a bottom line to it, there is a return on investment that the companies get from ensuring and promoting health, wellness activities with in organizations,” recharj’s Turissini says. “So, we teach them different tools that are attainable in an office environment so that they can find a little of calm in the middle of the day, but more than that, they can learn to manage their angry thoughts and they can actually be more productive.”

As the trend of promoting wellness and healthy habits continues, the business of midday breaks is expected to grow and thrive. Daniel Turissini, recharj founder, is proud to be one of the pioneers.

Stock Sell-off Creates Market Jitters

Recent losses on global financial markets, including those in the U.S., have some investors concerned about expectations for their holdings and plans for the future.

The Dow Jones Industrial Average declined 2.5 percent Friday, its largest percentage drop since Britain’s decision in June 2016 to leave the European Union.

The Dow and the broader U.S. Standard & Poor’s 500 Index ended the week roughly 4-percent lower, their biggest weekly drops since early 2016, amid fears of inflation and disappointing quarterly corporate earnings results.

Key stock indexes in Europe also fell Friday. Germany’s DAX index dropped 1.7-percent, while France’s CAC 40 Index declined 1.6-percent.

In Asia, Japan’s Nikkei 225 Index slid nearly 1-percent and South Korea’s Kospi fell 1.7-percent.

Meanwhile, U.S. bond yields climbed and contributed to the sell-off after the U.S. government reported that wages grew last month at their fastest pace in eight years.

The wage data helped stoke investor concern that the Federal Reserve, the U.S. central bank, will respond to higher inflation by hiking its key interest rate more quickly than anticipated.

Darrell Cronk, head of the Wells Fargo Investment Institute, said an extended period of low interest rates has helped create the uncertainty.

“We’ve enjoyed low interest rates for so long, we’re having to deal with a little bit higher rates now, so the market is trying to figure out what that could mean for inflation.”

The yield on the benchmark 10-year U.S. Treasury notes rose to 2.852-percent, its highest level in more than four years. The rise in bond yields hinders stock performance in two ways: it makes corporate borrowing more expensive and it makes bonds more attractive to investors compared to riskier stocks.

Bond strategists were unwilling Friday to predict what lies ahead for interest rates this week after the markets’ unusual volatility in the past week.

Investors may get a hint of the direction of interest rates when trading resumes in Asia early Monday, and possibly more insight after the U.S. Treasury’s $66 billion in auctions of 3-, 10- and 30-year bonds from Tuesday to Thursday.

Early Diagnosis, Treatment for Cancer Saves Many Lives

To mark World Cancer Day, the World Health Organization urges the adoption of healthy life styles as a way to lower cancer risks. WHO also emphasizes that early diagnosis and treatment for cancer can save many lives.

Much progress has been made in the diagnosis and treatment of cancer. But, the statistics regarding this disease remain terrible. Cancer is the second leading cause of death globally, killing nearly nine million people yearly, with about 14 million new cases being diagnosed.

The most common causes of cancer death include lung, liver, colorectal, stomach and breast cancers. The World Health Organization reports tobacco use is the most important risk factor, followed by alcohol use, unhealthy diet and lack of physical activity.

WHO technical officer for cancer control, Andre Ilbawi says approximately 70 percent of cancer deaths are in low-and middle-income countries, while the number of cases in these countries is increasing at a fast and worrying rate.

He agrees this is a cause of concern, but tells VOA simple actions can be taken even by the poorest countries to address this issue.

“First and foremost, the greatest priority is to diagnose cancer early.This is a more significant intervention than, as you mentioned, the advanced technologies and the expensive medicines that can be prohibitive in low-income countries.Identifying cancer early is the most effective way to treat it and by offering that population basic treatment, you can, in fact, save a large percentage of cancer patients even with minimal resources,” he said.

Ilbawi says important actions that developing countries can take to improve cancer outcomes include improving community awareness of the disease, early detection through better diagnosis in primary health care and accessing affordable treatment.

The World Health Organization also stresses the importance of a healthy lifestyle. It says eating more fruits and vegetables, regular exercise, no tobacco use and moderate alcohol intake can cut cancer deaths by one third.

Screening for Alzheimer’s May Become Cheaper

Finding a cure for Alzheimer’s is an extremely complex task. Scientists still do not know what causes the disease. Once the symptoms appear, the gradual memory loss is inevitable and available drugs can only slow down the process. Researchers, however, believe the disease develops slowly, over years, so detecting it before the symptoms appear may give the patients a better chance of a longer life. VOA’s George Putic reports.

Guest Workers Leave Behind Big Houses, Ghost Neighborhoods

Over the last decades, growing economic hardships forced people in cities and villages around the world to leave their hometowns to find work in other countries. Dreaming of returning one day and enjoying a better life where they grew up, many invested most of their savings buying houses back home. But often, these houses remain empty, making many communities look like ghost towns. Faiza Elmasry has the story. Faith Lapidus narrates.