Exclusive: SEC left computers vulnerable to cyber attacks – sources

WASHINGTON (Reuters) – Staffers at the U.S. Securities and Exchange Commission failed to encrypt some of their computers containing highly sensitive information from stock exchanges, leaving the data vulnerable to cyber attacks, according to people familiar with the matter.

While the computers were unprotected, there was no evidence that hacking or spying on the SEC‘s computers took place, these people said.

The computers and other electronic devices in question belonged to a handful of employees in an office within the SEC’s Trading and Markets Division. That office is responsible for making sure exchanges follow certain guidelines to protect the markets from potential cyber threats and systems problems, one of those people said.

Some of the staffers even brought the unprotected devices to a Black Hat convention, a conference where computer hacking experts gather to discuss the latest trends. It is not clear why the staffers brought the devices to the event.

The security lapses in the Trading and Markets Division are laid out in a yet-to-be-released report that by the SEC’s Interim Inspector General Jon Rymer.

NO DATA BREACHED

The revelation comes as the SEC is encouraging companies to get more serious about cyber attacks. Last year, the agency issued guidance that public companies should follow in determining when to report breaches to investors.

Cyber security has become an even more pressing issue after high-profile companies from Lockheed Martin Corp to Bank of America Corp have fallen victim to hacking in recent years.

Nasdaq OMX Group, which runs the No. 2 U.S. equities exchange, in 2010 suffered a cyber attack on its collaboration software for corporate boards, but its trading systems were not breached.

One of the people familiar with the SEC’s security lapse said the agency was forced to spend at least $ 200,000 and hire a third-party firm to conduct a thorough analysis to make sure none of the data was compromised.

The watchdog’s report has already been circulated to the SEC’s five commissioners, as well as to key lawmakers on Capitol Hill, and is expected to be made public soon.

SEC spokesman John Nester declined to comment on the report’s findings.

SEC NOTIFIED EXCHANGES

Rich Adamonis, a spokesman for the New York Stock Exchange, said the exchange operator is “disappointed” with the SEC’s lapse.

“From the moment we were informed, we have been actively seeking clarity from the SEC to understand the full extent of the use of improperly secured devices and the information involved, as well as the actions taken by the SEC to ensure that there is proper remediation and a complete audit trail for the information,” he said.

A spokesman for Nasdaq OMX declined to comment on the security lapse at the SEC.

Since the internal investigation was concluded, the SEC initiated disciplinary actions against the people involved, one of the people familiar with the matter said.

The SEC also notified all of the exchanges about the incident.

The SEC’s Trading and Markets Division, which has several hundred staffers, is primarily responsible for overseeing the U.S. equity markets, ensuring compliance with rules and writing regulations for exchanges and brokerages.

Among the division’s tasks is to ensure exchanges are following a series of voluntary guidelines known as “Automation Review Policies,” or ARPs. These policies call for exchanges to establish programs concerning computer audits, security and capacity. They are, in essence, a road map of the capital markets’ infrastructure.

Although they are only voluntary guidelines, exchanges take them seriously.

Under the ARP, exchanges must provide highly secure information to the SEC such as architectural maps, systems recovery and business continuity planning details in the event of a disaster or other major event.

That is the same kind of data used by exchanges last week after Hurricane Sandy forced U.S. equities markets to shut down for two days.

Prior to re-opening, all of the U.S. stock market operators took part in coordinated testing for trading on NYSE’s backup system.

SEC Chairman Mary Schapiro recently said the SEC is working to convert the voluntary ARP guidelines into enforceable rules after a software error at Knight Capital Group nearly bankrupt the brokerage and led to a $ 440 million trading loss.

(Reporting by Sarah N. Lynch; Editing by Karey Wutkowski and Lisa Shumaker)

Internet News Headlines – Yahoo! News

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Roger Waters plays with band of wounded veterans

NEW YORK (AP) — Roger Waters honored wounded veterans in New York by performing with them at the annual Stand Up for Heroes benefit, Thursday night.

The founding member of Pink Floyd took to the stage of the Beacon Theater with 14 wounded soldiers he met recently at the Walter Reed Army Medical Center in Washington, D.C. He rehearsed with them at the hospital, and for the past few days in New York.

The event benefited the Bob Woodruff Foundation, which helps returning veterans and their families, and featured Waters, Bruce Springsteen, Ricky Gervais, Robin Williams, and others.

Before the show, Waters chatted with veterans and called the experience “fantastic.” He says he’s “looking forward to pulling for the rest of these guys with their comrades” during the healing process.

He says that he shares “enormous empathy with the men.”

“I lost my grandfather in 1916 and my father in 1944, so I’ve been around the sense of loss and what loss from war can do to people,” Waters said.

“I never talk about the politics because it’s not relevant to me. I’m not interested in it,” he said. “What I am interested in is the burdens these guys bear and would never question motive or even dream of talking about any of the politics.”

He added: “If any of us have a responsibility in our lives it is to tear down the walls of indifference and miscommunication between ourselves and our fellow men.”

Waters said he rehearsed with many of the soldiers at the hospital in between their medical procedures. Before the show, he walked the red carpet with Staff Sgt. Robert Henline, who was not in the band. In 2007, Henline was the sole survivor of a roadside bombing north of Baghdad. As a result, he suffered burns over 38 percent of his body and his head was burned to the skull.

Henline, who fought for his life after the attack, has endured more than 40 surgeries.

Still, he maintains a sense of humor. On the open red carpet on a chilly night, Waters pushed closer to Henline for warmth.

“Get next to the burn guy. I’m good. I’m heated up,” Henline joked.

No surprise. The retired soldier says he’s been doing stand-up comedy for the past year and a half.

Waters performed three songs with the veterans, including the Pink Floyd classic, “Wish You Were Here.”

Waters said he didn’t think there would be a reunion with his former band.

“I think David (Gilmour) is retired by and large. I shouldn’t speak for him. But that’s the impression I get.”

Waters then added: “Hey whatever. All good things come to an end.”

While his mammoth tour of “The Wall” ended this summer, Waters promised the theatrical version would hit the Broadway stage in the near future.

The Bob Woodruff Foundation has supported more than 1 million veterans, service members, and their families since it began in 2008.

_____

John Carucci covers entertainment for The Associated Press. Follow him at —http://www.twitter.com/jcarucci_ap

Entertainment News Headlines – Yahoo! News

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Gas rationing expands as Sandy, Nor'easter effects linger

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Malaria vaccine disappoints in African babies trial

LONDON (Reuters) – A GlaxoSmithKline experimental malaria vaccine touted as a new weapon in the fight to eradicate the deadly disease proved only 30 percent effective when given to African babies in a crucial clinical trial.

The surprisingly poor result leaves uncertain whether the vaccine will have a useful role to play in fighting the mosquito-borne disease that kills hundreds of thousands of children a year.

Philanthropist Bill Gates, who has helped fund its development, said further data was needed to determine whether and how the vaccine might be used.

“The efficacy came back lower than we had hoped, but developing a vaccine against a parasite is a very hard thing to do,” he said in a statement.

Results from the final-stage trial with 6,537 babies aged six to 12 weeks showed the vaccine provided “modest protection”, reducing episodes of the disease by 30 percent compared to immunization with a control vaccine, researchers said on Friday.

That efficacy rate one year after vaccination is less than half the 65 percent reported in a smaller mid-stage trial in 2008 that followed babies of a similar age for six months.

It is also a lot less than the 50 percent seen last year in a large Phase III trial involving children aged five to 17 months.

Vaccinating babies, rather than toddlers, is the preferred option, since the new vaccine could then be added to other routine infant immunizations. A separate program for older children would involve a lot of extra costs.

Despite the limited success, Britain’s top drugmaker said it would push ahead with developing the vaccine, called RTS,S or Mosquirix, and Chief Executive Andrew Witty said he still believed it would be an important tool in fighting malaria.

GSK does not expect to make any significant profit from the vaccine, which would only be sold in poor countries.

WORTH BUYING?

Given the target market, it is governments and international groups that will have to fund the vaccine’s roll-out and they will need more evidence before deciding that it is worth buying.

“We will have to have more information to give us a clearer idea as to how useful this vaccine will be,” said Seth Berkley, CEO of the GAVI Alliance, which funds bulk-buy vaccination programs for poorer nations.

In particular, Berkley told Reuters he wanted to see longer-term data, including the effect of booster shots, and an analysis of how the vaccine performed in different settings, which might show if it was suited for particular locations.

The setback comes two months after disappointing results with a vaccine against dengue fever, another mosquito-borne disease that is proving a formidable enemy.

Details of the malaria trial were presented at a medical meeting in Cape Town and published online by the New England Journal of Medicine.

Malaria is caused by a parasite carried in the saliva of mosquitoes. It is endemic in more than 100 countries worldwide and infected around 216 million people in 2010, killing around 655,000 of them, according to the World Health Organisation.

Control measures such as insecticide-treated bednets, indoor spraying and the use of combination anti-malaria drugs have helped cut the numbers of malaria cases and deaths significantly in recent years, but experts say an effective vaccine is vital to complete the fight against the disease.

The RTS,S vaccine is designed to kick in when the parasite enters the human bloodstream. By stimulating an immune response, it can prevent the parasite from maturing and multiplying in the liver. Without that immune response, the parasite gets back into the bloodstream and infects red blood cells, leading to fever, body aches and in some cases death.

Other teams of scientists around the world are working on other potential malaria vaccines which work in different ways, but RTS,S is by far the furthest ahead in development.

Health News Headlines – Yahoo! News

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Ghana building collapse traps dozens, kills 1

ACCRA, Ghana (AP) — A five-story shopping center built earlier this year in a bustling suburb of Ghana‘s capital collapsed Wednesday, killing at least one person and leaving several dozen people trapped in the rubble, authorities and eyewitnesses said.

Rescue crews used cranes to try and remove debris from the top of the building amid fears that machinery sifting through the wreckage could injure trapped survivors. Crowds of bystanders gathered as rescuers sifted through cement and glass.

The fatality at the Melcom Shopping Center at Achimota, a suburb of Accra, was confirmed by Public Affairs Officer of the Ghana Fire Service Billy Anaglate. “We are still working to find out the fate of others who may be trapped under,” he said.

Other officials told The Associated Press that the death toll was likely to rise.

An AP reporter at the scene saw at least one man pulled from the debris, covered in dust and who was then whisked into an ambulance.

A Greater Accra Regional Public Affairs officer, deputy superintendent Freeman Tettey, confirmed that one person died and told the AP that 51 have been rescued and sent to hospitals around the capital.

“I was on my way to the shop when l saw it crumpling down,” Kojo Boadi, an eyewitness, said.

President John Mahama declared the scene a disaster zone and cut short his election campaign in the north of the country to be able to visit the site. The presidential election is scheduled for December.

The five-story store opened in February is part of the Melcom chain owned by Indian immigrant magnate, Bhagwan Khubchandani. His late father arrived in Ghana in 1929 as a 14-year-old to work as a store boy in the-then Gold Coast.

The store sells a variety of cheap, imported household goods and appliances that are popular with working-class Ghanaians.

Africa News Headlines – Yahoo! News

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Galaxy S3 takes No. 1 position in smartphone market: research

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“Ode to Joy” for Royal Philharmonic Society’s 200th

LONDON (Reuters) – The British music society that commissioned Beethoven to write his Ninth Symphony and its “Ode to Joy” announced on Wednesday it will celebrate the society’s 2013 bicentenary by showing off its manuscript of the work on both sides of the Atlantic.

The Royal Philharmonic Society, founded in London in January, 1813, also will sponsor performances of Beethoven’s last symphony, splash out on commissions of new music and will digitize its archive held at the British Library, the society announced in the London pub where its founders used to meet.

“Some of the most famous works in the classical repertoire were either commissioned by the Philharmonic Society or premiered in the UK at Philharmonic Society concerts,” John Gilhooly, the society’s Irish chairman, told reporters.

“Works by Beethoven, Mendelssohn, Schumann, Rachmaninov, Sibelius, Wagner, Brahms, Bruckner and Delius, Debussy and Shostakovich, to name but a few,” Gilhooly continued, adding that the society had commissioned “over 60 composers in the last decade alone”.

The society will participate in exhibits in New York and London featuring manuscript versions of Beethoven’s last symphony which contains the “Ode to Joy” that has become a theme song for world peace and freedom.

The society’s archives record that in 1817 it paid Beethoven 50 guineas for the work. The society, which is not publicly funded and is financed by donations, got the “royal” tag in its centenary year.

Gilhooly said a much-photographed and copied bust of Beethoven that the society owns would be making a return visit to concert stages after having been squirreled away in the RPS headquarters for most of the past 30 years.

“It’s going to be a bit like the Olympic torch,” Gilhooly said. “It’s busted out in preparation for a grand tour.”

Founded by a group of professional musicians to make classical music available to a wider audience, the RPS said it was commissioning 16 new works by such prominent composers as Harrison Birtwistle, Wolfgang Rihm and Magnus Lindberg, some of them in conjunction with the Britten-Pears Foundation which is celebrating the centenary of British composer Benjamin Britten.

“I very much admire that they are sponsoring young composers, older composers, making it possible that music, even avant garde or little known music, is written and performed,” Alfred Brendel, one of the world’s most distinguished pianists and a RPS gold medal recipient, who retired from public performance several years ago, told Reuters at the launch event.

The exhibit of letters and manuscripts will be mounted in cooperation with the British Library and the Morgan Library and the Juilliard School of music in New York, which holds another copy of the Beethoven Ninth.

The American and British manuscripts of the symphony, annotated by Beethoven, will be seen together side by side for the first time since 1824 in New York later in the year, the society said.

(Editing by Paul Casciato)

Music News Headlines – Yahoo! News

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Obama faces familiar world of problems in second term

WASHINGTON (AP) — Now that his re-election is secured, President Barack Obama has a freer hand to deal with a world of familiar problems in fresh ways, from toughening America's approach to Iran and Syria while potentially engaging other repressive countries such as Cuba and North Korea and refocusing on moribund Middle East peace efforts.

The first tweaks in his Iran policy could come within weeks, officials said.

But a pressing task for Obama will be to assign a new team to carry out his national security agenda. Secretary of State Hillary Rodham Clinton has announced her plans to retire but could stay a few weeks past January to help the administration as it reshuffles personnel. Defense Secretary Leon Panetta is likely to depart shortly after her. CIA Director Gen. David Petraeus is expected to stay on.

The favorite to succeed Clinton, U.N. Ambassador Susan Rice, would face a difficult Senate confirmation process after her much-maligned explanations of the attack on the U.S. Consulate in Benghazi, Libya, meaning she could land instead as Obama's national security adviser. That job that doesn't require the Senate's approval. Tom Donilon, who currently holds that position, and Chuck Hagel, a former Republican senator, are among the other contenders.

The chances of another early favorite, Senate Foreign Relations Committee Chairman John Kerry, are hampered by Democrats' fear that Republican Scott Brown, who lost his Massachusetts Senate seat Tuesday, could win Kerry's seat in a race to replace him.

Officials, however, are pointing to Jon Huntsman, the former Utah governor, Obama's ambassador to China and Republican presidential candidate, and the State Department's current No. 2, William Burns.

Huntsman is still widely respected by the administration even if he'd hoped to unseat Obama. Choosing Huntsman would allow the president to claim bipartisanship while putting an Asia expert in the job at a time when the U.S. is focusing more attention on the world's most populous continent. Burns would be an option as caretaker secretary until postelection passions in Congress subside and a permanent replacement might face smoother confirmation. He is a career diplomat who has no political baggage and would be unlikely to stir significant opposition among lawmakers.

At the Pentagon, speculation about successors has been limited. Panetta's deputy, Ashton Carter, is seen as a possibility, along with Michele Flournoy, who served as Defense Department policy chief from 2009-12 and would be the first woman in the top job.

New Cabinet members will enter at a time of various global security challenges, from the Arab Spring to China's rapid economic and military expansion in Asia. But the president's escape from any future campaigning also offers unique diplomatic opportunities, which Obama himself hinted at in March when he told then-Russian president and current prime minister Dmitry Medvedev that he'd have "more flexibility" on thorny issues after the election.

Obama's immediate predecessors, Bill Clinton and George W. Bush, used their second terms to launch major, though ultimately unsuccessful initiatives for an Israeli-Palestinian accord, an elusive goal that Obama also deeply desires. This summer he listed the lack of progress toward peace among the biggest disappointments of his presidency so far, suggesting another U.S. attempt in the offing.

Clinton's Camp David negotiations and Bush's Annapolis process became signature foreign policy priorities in 2000 and 2007. But the Israelis and the Palestinians remain as far apart as ever on the contours of an agreement, from the borders of their two separate states to issues related to refugees and resources.

Any Obama-led plan for the Middle East will be complicated by Israel's fears about the Iranian nuclear program, civil war in nearby Syria and the new reality of an Islamist-led Egypt having replaced America's most faithful Arab ally. Obama's difficult relationship with Israeli Prime Minister Benjamin Netanyahu could also complicate the process.

With Iran, the president is holding out hope that crippling economic sanctions will force the Islamic republic's leaders to scale back its uranium enrichment activity. Iran insists its program is designed for energy and medical research purposes, even as many in the West fear the ultimate goal is to produce nuclear weapons. Obama has stressed the narrowing time frame for Tehran to negotiate a peaceful solution to the standoff, while pressing Israel to hold off on any plans for a pre-emptive strike.

Officials say the administration is likely to adjust its two-track approach to Iran — which offers Tehran rewards for coming clean on its nuclear program and harsher penalties for continued defiance — in the coming weeks. Details are still being debated. In the end, however, Obama may have to resort to a military strategy if Iran continues to enrich uranium at higher levels and nears production of weapons-grade material — a possible scenario he acknowledges.

"The clock is ticking. We're not going to allow Iran to perpetually engage in negotiations that lead nowhere," Obama said in his last foreign policy debate with Republican presidential candidate Mitt Romney. "We have a sense of when they would get breakout capacity, which means that we would not be able to intervene in time to stop their nuclear program."

Syria's widening conflict is another concern. More than 36,000 people have died in the last 20 months, as a brutal crackdown on dissent by President Bashar Assad's regime has descended into a full-scale civil war. Obama has demanded Assad's departure, yet has ruled out military assistance to the rebels or American military actions such as airstrikes or enforcing a no-fly zone over Syria.

Last week, in a significant shift in policy, the secretary of state demanded a major shakeup in the opposition's ranks in the hopes of rallying Syrians behind the rebellion. However, Clinton's spokeswoman, Victoria Nuland, reiterated Wednesday the administration still rejects the notion of providing weapons to anti-Assad fighters or any talk of armed intervention.

In other places, Obama's engagement efforts may get another look. After some success with a rapidly liberalizing Myanmar, there are hopes for democratic reforms and human rights advances in Cuba and North Korea, among others.

But short of a rapid change in attitude from these governments, Obama's options for a landmark breakthrough in U.S. diplomacy are limited. He won't be able to reach out to Havana until it frees the jailed U.S. contractor Alan Gross, while Pyongyang will have to denuclearize if it wants better relations with America — steps neither regime has shown a willingness to entertain. The recent re-election of Venezuelan President Hugo Chavez has halted chances for now of any rapprochement between Washington and Caracas.

In Afghanistan, the president will seek to stick to NATO's 2014 withdrawal date for most international troops, a central campaign promise. His administration has been trying unsuccessfully to jump-start peace negotiations between President Hamid Karzai's Western-backed government and the Taliban. The so-called reconciliation effort relies heavily on America's frustrating and unreliable ally Pakistan, where extremist groups such as al-Qaida and the Haqqani network will continue to face U.S. drone attacks.

Behind all the diplomatic efforts are larger questions of American geopolitical strategy. Obama had initial success improving U.S. relations with Russia, getting a nuclear arms-reduction pact in 2011, but has since seen America's former Cold War foe frustrate U.S. missile defense plans and hopes of an international consensus on Syria. The president has continued to trumpet the benefits of his Russia "reset" policy but may take a firmer stance against Moscow if it refuses to show compromise.

For economic reasons, China policy is less likely to change. The world's two biggest economies are deeply interdependent and, despite lingering disagreements over Beijing's currency exchange rates and intellectual property infringement, neither side will want to do anything that threatens a trade war and jeopardizes China's booming growth or America's still-fragile jobs recovery.

___

Associated Press writers Donna Cassata, Robert Burns and Kimberly Dozier contributed to this report.

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Climate change threatens sweet smell of morning coffee

LONDON (Reuters) – Rising temperatures due to climate change could mean wild arabica coffee is extinct in 70 years, posing a risk to the genetic sustainability of one of the world’s basic commodities, scientists said.

Although commercial coffee growers would still be able to cultivate crops in plantations designed with the right conditions, experts say the loss of wild arabica, which has greater genetic diversity, would make it harder for plantations to survive long-term and beat threats like pests and disease.

A study by researchers at Britain’s Royal Botanic Gardens at Kew in collaboration with scientists in Ethiopia found that 38 to 99.7 percent of the areas suitable for wild arabica will disappear by 2080 if predictions of rising temperatures pan out.

Because coffee is a highly climate-dependent crop, the increase of a few degrees of average temperature in growing regions can put at risk the future of Arabica coffee and the livelihood of millions of people who grow and produce it.

“The extinction of arabica coffee is a startling and worrying prospect,” said Aaron Davis, head of coffee research at the Royal Botanic Gardens, who led the study.

In a telephone interview, he said the findings made it even more important for organizations such as the World Coffee Research collaboration to continue work to improve the genetic strength of cultivated arabica by preserving wild types.

Researchers used computer modeling to analyze the influence of rising temperatures on the geographical distribution of wild arabica coffee.

The results, published in a the Public Library of Science journal PLOS ONE, showed a “profoundly negative influence” on the number and extent of wild arabica populations, the researchers said.

The researchers conducted two types of analysis. In the locality analysis, they found that the best outcome was for a 65 percent fall in the number of pre-existing bioclimatic ally suitable localities and the worst was for a 99.7 percent drop by 2080.

In the area analysis, the best outcome was a 38 percent reduction in suitable growing regions and the worst case was a 90 percent reduction by 2080.

Davis said the predictions were conservative, since the modeling did not factor in large-scale deforestation now taking place in Ethiopia and South Sudan, another Arabica coffee region.

“The models assume intact natural vegetation, whereas the highland forests of Ethiopia and South Sudan are highly fragmented due to deforestation,” the researchers wrote.

“Other factors, such as pests and diseases, changes in flowering times, and perhaps a reduction in the number of birds (which disperse the coffee seeds), are not included, and these are likely to have a compounding negative influence.”

Cultivated arabica coffee accounts for slightly more than 60 percent of global coffee production, with about 4.86 million tones produced this year and valued at around $ 16 billion in wholesale trade.

Exports of coffee also are crucial to the economies of countries including Brazil, Sudan and Ethiopia, where arabica coffee is thought to have originated.

(Additional reporting by Nigel Hunt; editing by Jane Baird and William Hardy)

Health News Headlines – Yahoo! News

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Canada firms to capitalize on nuclear trade with India

NEW DELHI (Reuters) – Canadian firms will be able to export uranium and nuclear reactors to India for the first time in almost four decades under an agreement between the two nations, their prime ministers said, but more work is needed to implement the deal.

Once implemented, the agreement will end a ban on nuclear cooperation Canada imposed in 1976 after India secretly exploded its first nuclear bomb in 1974, commonly called the “Smiling Buddha”, using material from a Canadian-built reactor in India.

“Being able to resolve these issues and move forward is, we believe, a really important economic opportunity for an important Canadian industry, part of the energy industry, that should pay dividends in terms of jobs and growth for Canadians down the road,” Canadian Prime Minister Stephen Harper said on Tuesday on a visit to New Delhi.

A negotiator with the Canadian Nuclear Safety Commission (CNSC), speaking on condition of anonymity because of the delicacy of the talks, said that what remained was a careful legal review of the language; translation into French and Hindi; and then a signing.

This is not expected to take very long, he said. The two sides have set up a joint committee to liaise on nuclear issues, but he said it would not be negotiating.

India aims to lift its nuclear capacity to 63,000 MW in the next 20 years by adding nearly 30 reactors. The country currently operates 20 mostly small reactors at six sites with a capacity of 4,780 MW, or 2 percent of its total power capacity, according to the Nuclear Power Corporation of India Limited.

Canada’s ambassador to India, Stewart Beck, said on Monday his country wanted to be able to track all nuclear material, but that India felt it only needed to report to the International Atomic Energy Agency (IAEA).

It was not clear who made concessions in the talks and how effective the safeguards would be to ensure that Canadian material did not get used again for making nuclear weapons.

However, the CNSC official said India would now be required to notify Canada of any transfers to a third country and trade could only go to facilities that are safeguarded by the IAEA.

PROBABLY BEATING AUSTRALIA

Harper said the CNSC had worked to “achieve all of our objectives in terms of non-proliferation”.

Canada is in a race against Australia, its strategic ally but a commercial rival in the uranium business. Australia is also trying to nail down safeguards under which it too could sell uranium to India.

“We are effectively ahead of the Australians,” the CNSC official said, noting however that Russia and Kazakhstan were already supplying into India.

Opening up the Indian market would be a big help to Canada’s Cameco Corp, which is the world’s largest publicly traded uranium producer but which recently cut its long-term output targets due to the Fukushima disaster.

“Anytime we can reduce the roadblocks to selling our product around the world is always helpful,” Cameco chief executive Tim Gitzel told Reuters in Canada. “It opens a new market for us with the appropriate safeguards in place. So this is good news.”

Another potential beneficiary is Canadian engineering firm SNC Lavalin Group Inc, which bought the government’s commercial nuclear division, which designed the Candu reactor that is in use in numerous countries.

“As far as the sales of reactors goes, we would normally now request that Canada be accorded the same treatment as the Russians, the French and the Americans and that a site be designated in India for the implementation of at least a twin- unit Candu nuclear power station,” SNC Lavalin International President Ronald Denom, part of Harper’s delegation in India, told Reuters.

He also said it should open up the market to service the existing reactors in India.

Harper also said Canada welcomed foreign investment, after the country temporarily blocked Malaysian state oil firm Petronas’ C$ 5.17 billion ($ 5.19 billion) bid for gas producer Progress Energy Resources on October 20.

Late on Friday, Canada extended to December 10 its review of a $ 15.1 billion bid made in July by China’s CNOOC Ltd for Canadian energy producer Nexen Inc.

“Those decisions have to be taken looking at the global evolving economy in which we operate,” Harper said.

($ 1 = C$ 0.9965)

(Additional reporting by Julie Gordon in Toronto; Additional writing by Frank Jack Daniel; Editing by Jonathan Thatcher and Michael Roddy)

Canada News Headlines – Yahoo! News

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