AUD Rises Against U.S. Dollar and Yen

AUD Rises Against U.S. Dollar and Yen

Australian dollar improved its positions against U.S. dollar and Japanese yen today after the very successful Asian/Australian stock markets session and some promising report on the country’s economy.
AUD/USD increased 1% - a largest gain since last Wednesday, whereas AUD/JPY gained a little more than 0.9%.
The growth of the Australian dollar was sprung after the country’s stock market along with the Japanese one began to recover the losses. Report showing the rise of the car sales, helped investors to regain confidence in the Australia’s high-yielding equities.
November motor vehicle sales in Australia rose by 1.1%, which, amidst the global financial, crisis spurred more bullish tendencies among the stock traders. Meanwhile some minor rebirth of the carry trade and speculation on the possible central bank’s interest rates hike in the beginning of the next year strengthened Australian currency on Forex.

Euro Rises before Christmas

Euro Rises before Christmas

The euro rose against all other major currencies today spurred by the carry trading optimism and weakness experienced by the Great Britain pound and the U.S. dollar.
EUR/GBP reached its historical maximum as the pound has been losing its weight against other currencies on Forex. Bank of England monetary policy is currently aiming on a lower interest rates, while the real estate sector in the United Kingdom is suffering a sharp decline in house prices.
The U.S. dollar, after stopping its massive rollback against the euro last week, started this one with two losing sessions - both Asian and European. Weak activity of the U.S. Forex traders before Christmas and new carry trade positions opening could contribute to this EUR/USD behavior.
EUR/GBP rose from 0.7242 to 0.7290 during the trading day, while EUR/USD gained slightly less rising from 1.4366 to 1.4412.

Carry Traders Fight Back But Will They Survive in 2008?

Despite the recent easing on financial conditions the outlook for the carry trade strategy remains very bearish. Short term interbank lending rates remain well above government bond yields of similar maturity and the repeated injections of liquidity by the world’s most important central banks are failing to restore confidence in the global financial system. Last week, the DailyFX Dynamic Carry Trade Portfolio was down by 71 pips in capital but accumulated an additional $87 per basket on interest payments. The most lucrative trade was the position we held in the Australian dollar with 111 pips gain in capital appreciation plus $20 on interest payments accumulated along the last 5 days. Yet, all of those gains were offset by the losses in the long position we held in the Sterling against the U.S. dollar (-361 pips).

Additional Information

Making profitable carry trades are not as easy as they use to be. Therefore we have created a dynamic carry basket that changes when the monetary policy outlook for a central bank changes or if there is significant event risk ahead. Follow the performance of the DailyFX Dynamic Carry Trade Basket

What is Carry Trade

All that is needed to understand the carry trade concept is a basic knowledge of foreign exchange and interest rates differentials. Money shifts from around the world in seek of the highest yield and the benefit of trading currencies is that you are dealing with countries that have interest rates, which are charged or received every single day. If you are positioned on the side of positive carry, you have the right to earn that interest, which can be quite lucrative over time.

Protective Stop-Loss

Substantial gains made from interest rate differentials provide undeniable evidence that the carry trade strategy has been very successful over the past few years. Still, this strategy involves significant risks and an adequate protective stop is required. We are using a protective stop-loss equivalent to five times the average true range. Stop losses are activated when we have a weekly close below the specified stop level.

Position Sizing

Our position size varies according to each currency volatility. Generally, the more volatile the currency is, the fewer lots we trade. For example, let's assume you have $10,000 and you are trading 10K lots, you decide to limit your risk per trade to 3% or $300 and the 90 days average true range for the EURUSD is 100 pips. In this case, if you go long EUR/USD you could buy 3 lots, since ($10000 * 3%) divided by (0.0100*10K) = 3 lots. In case the final result is not an integer you should always rounded it down to limit your exposure.

Dollar Holds Range; Pound Stabilizes - Will Personal Income Increase?

Talking Points

• Yen: Back above 113.00 as global equities turn green
• Pound: Better Retail Sales stave off run at 1.9800
• Euro: Hotter Import prices but weaker consumer spending offset each other
• US Dollar: PCE and Personal Income on tap

A listless night of trade as the FX dealing world is quietly wrapping up business for 2007. Next week with Japan closed for Monday and Europe and North America closed for Christmas trading is likely to remain moribund. Unlike the past few years when low liquidity conditions often resulted in massive volatility, this year most of the position squaring has been done and unless we get some unexpected geo-political or financial in the next two weeks it looks like range, range, range for the rest of 2007.

On the economic front EZ data managed to offset itself with German Import prices rising more than expected giving further credence to ECB’s argument that price pressures are mounting. On the other hand, French consumer spending dropped much sharper than forecast declining –0.1% versus consensus calls of a 0.6% gain. The news once again underscores the dichotomy between ECB’s tough talk and the reality of lackluster EZ consumer demand which is almost certain to keep Mr. Trichet and company on the sidelines at least through the first month of 2008.

In UK Retail Sales printed better than expected rising 0.4% vs. 0.2% forecast on a month over month basis. The news helped to stave off a run at the 1.9800 level and may have marked a temporary bottom in the pound if not against the greenback per sei then certainly on the crosses.

Cable has been the weakest performer amongst the majors this week beaten down by relentlessly dour UK economic news. Therefore, today’s upside surprise came as welcome news to pound longs suggesting that the UK consumer spending remains relatively healthy and may not require immediate monetary easing from BoE next month.

In US today the focus will also be on the consumer as Personal Income and Personal Spending data will be released at 13:30 GMT. The market expects spending to exceed income by 0.1% and should that be the case the greenback could see some turbulence as the data will show further deterioration of the consumer balance sheet. However, if income and spending match, the news could give the buck a boost indicating that for the time being US consumer is generating enough cash flow to meet his obligations. One other item of note will be the PCE data for November. A hotter number may offset any weakness from the spending data as it will make it more difficult for Fed to cut in January in light of growing evidence of rising inflation.

I will be gone for rest of the year, but Market Brief will be published daily. Wishing all of our clients the very best of holidays and happy, healthy and prosperous 2008.

US Dollars: Best Trade of 2007, What Is In Store for 2008?

US Dollars: Best Trade of 2007, What Is In Store for 2008?
Selling US dollars was one of the best trades of 2007. Since the beginning of the year, the dollar has fallen as much as 13 percent against the Euro, 10 percent against the Japanese Yen and 8.5 percent against the British pound. The story of the dollar’s weakness also captured headlines around the world. It became so pronounced that supermodel Gisele announced her preference for being paid in Euros over dollars. Everyone from our barbers to our bartenders has been asking us when the US dollar will bottom and just when that happened – the dollar’s slide came to a screeching halt. The question now is will the turn in the dollar last or will the weakness resume in the New Year. There are many factors at play. With high inflation still a problem, the Federal Reserve is running out of options. Over the past few months, Bernanke has needed to come up with more creative ways to calm the credit market. Their big liquidity injections have helped to bring down LIBOR rates, but uncertainty in the markets could also reverse their efforts in a blink of an eye. This is why they have pledged to conduct biweekly auctions of short-term funds for as long as necessary. However subprime problems will not go away until banks have reported all of their off balance sheet losses. When we stop hearing bad news and start hearing some good news, we will see the major shift in the markets that everyone has been hoping for. 2007 has also been about the decoupling story and we believe that recoupling will become the story of 2008. Many countries around the world have been lucky enough to skirt a major slowdown but if US growth continues to slow, the surprises next year could be from places like the Eurozone. Hawkish comments from the European Central Bank have encouraged traders to price a rate hike next year. If growth slows, those expectations could shift from a rate hike to a rate cut, which in turn would be positive for the dollar and negative for the Euro. 2008 is also an Election Year. The financial markets tend to favor Republicans over Democrats, especially since taxes are expected to be increased under a new leadership. In the coming week, liquidity should be particularly thin with the currency market closed on the 25th and 26th. There are no US economic releases until Wednesday.
Euro: Strong Data Fails to Please the Market
The Euro has been trapped within a 200 to 250 point trading range for the past week and even though the currency rebounded against the US dollar today, the move was just a rebound and nothing else. Economic data was strong with German import prices, French business confidence, French consumer spending and producer prices all surprising to the upside. The current account was weaker, but the data mattered little because it was from October. The Euro is stronger today, but the bulk of the move happened in the late Asian trading session and not on the heels of the economic releases. Economic data out of the Eurozone has been strong, but this strength has long been discounted by the market. Also, the recent liquidity injections by the ECB suggest that even if they want to raise rates, they will not be able to do so anytime soon. ECB President Trichet repeated the central bank’s goal of making sure the inflation spike is short lived, but Constancio took a different stance and warned the market that the risks to growth have increased as a result of the credit crisis. Like the US, the Eurozone economic calendar is exceptionally light in the coming week. The only potentially market moving report is Eurozone Retail PMI on Friday. Switzerland on the other hand will be releasing the UBS Consumption Indicator and the KoF Leading Indicator.
British Pound: No Relief Yet
There is no relief yet for the British pound which failed to rally for fourth consecutive trading day. Retail sales doubled expectations, but consumer confidence deteriorated. The UK economy is falling into a black hole and that weakness is being reflected in the British pound. At this point, the UK will need to lower interest rates again in the coming year as the credibility of the country’s new Prime Minister is tested. The recent developments in the UK and the British pound are a perfect reflection of what could be in store for the Euro. If data starts to turn so will market sentiment. In the week ahead, we are only expecting housing market reports from the UK. This includes Nationwide house prices and BBA loans data.
Strong Gains for Canadian, Australian and New Zealand Dollars
Canadian GDP and retail sales were stronger than expected in the month of October, triggering another day of gains for the loonie. This is the sixth consecutive day of strength for the currency pair , which up until last week was undergoing a near vertical reversal after hitting an all time low of 0.9059 on November 7th. The Australian dollar is also stronger thanks to a nice jump in the Conference Board Leading indicators report and new motor vehicle sales. Even the New Zealand dollar benefitted from a rise in credit card spending. In the week ahead, we have no Canadian or Australian data due for release, but New Zealand will be reporting their November money supply figures.

Dow Rises 200 Points, USDJPY Hits One Month Highs
Wall Street’s preholiday rally has helped to take all of the Japanese Yen crosses higher. There was no economic data released from Japan overnight, but they will be the only country releasing economic data on Monday and Tuesday. These reports should not be market moving however because most traders will be out for the holiday. Meanwhile sovereign wealth funds continue to dominate the headlines with Singapore’s state-owned Temasek Holdings planning to inject $5 billion into Merrill Lynch. They have become the new saviors for banks who have been badly burned by subprime losses. Expect this new trend to continue.

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US prices jump most in two years

US inflation rose at its fastest pace in two years during November, spurred on by higher energy prices, according to figures from the Labor Department.

Consumer prices rose 0.8% in November from October, above market forecasts.
The figures come as US and UK central banks have been cutting interest rates to bolster weakening economic growth.
The higher than expected inflation figure saw the dollar post its biggest one-day rise against the euro in more than three years.
This is because traders now expect the Federal Reserve to delay any further rate cuts.
By late Friday afternoon trading in New York, the euro was down 1.5% to $1.4412 against the dollar.
This is the strongest the dollar has been against the single European currency since October.
"The fear is that inflation will become the bigger concern," said John Forelli of Independence Investment in Boston. "It would be a lot easier to carry out their plans if inflation was not a concern."
US shares fell on concerns that the Federal Reserve would now not cut interest rates. That expectation helped strengthen the US dollar as investors looked for assets in currencies that offered higher returns.
'Dilemma'
Earlier on Friday, a report showed that inflation in the eurozone, which covers the 13 nations that use the single European currency, also surged.
According to figures from Eurostat, consumer prices rose 3.1% in November compared with the same month in 2006, the biggest rise in more than six years and up from October's 2.6%.
Central banks are battling to keep inflation in check as a slump in the price of the US dollar, and higher energy costs have pushed up prices.
However, at the same time they are also trying to limit the impact of a global credit crunch caused by problems in the US mortgage market.
There are fears that the high energy costs and problems in the financial markets will act as a brake on consumer spending, and hamper economic growth.
Analysts said that central banks including the US Federal Reserve will have a number of factors to consider when setting borrowing costs in coming months.
"The data highlights the huge dilemma the Fed is under between trying to quell the financial dislocations in the market, easing policy, all the while inflation rates are starting to climb higher," said Kim Rupert at Action Economics.
"It's going to be a difficult road."
Background figures
The last time US inflation rose by such a large amount on a monthly basis came after an energy shortage in the wake of hurricane Katrina in September 2005.
As well as energy, the cost of clothing, airline tickets and medication also rose in November in the US.
Consumer prices increased 4.3% on a yearly basis - the most dramatic rise since June 2006.
While the US central bank has cut interest rates three times in recent months to boost the economy, analysts suggest that these figures will make another interest rate cut less likely.
For the year to date, inflation is at 4.2% - compared with 2.6% in the same month in 2006.
Separate figures from the Fed on Friday showed further evidence that the economy may not be slowing as quickly as first thought, analysts said.
Industrial production rose 0.3% in November, reversing October's 0.7% drop, the Fed said. This reversal stemmed from higher output at auto factories, contributing to the overall 0.4% rise in manufacturing output.

Euro inflation hits six-year high

Higher oil and food prices have sent inflation in the eurozone to its highest level in more than six years

The 13-nation bloc that uses the euro saw consumer prices rise 3.1% in November compared with a year earlier, up from October's 2.6% increase.
The rise exceeded forecasts and is above the European Central Bank's (ECB) 2% annual target.
The ECB has left interest rates on hold, but analysts say these figures could fuel the case to raise them.
Core inflation, which excludes energy and food prices, rose 2.3% on a yearly basis.
'Bad news'
The ECB has been reluctant to change rates, faced with the dual problems of rising inflation and slower economic growth.
"These inflation figures are bad news all round and come against a background of elevated and rising inflation expectations," said Klaus Baader, an economist at Merrill Lynch.
He added that the credibility of the anti-inflationary regime in Europe was not what it used to be.
Following the release of the figures, the European Union urged businesses, unions and governments to unite to limit the impact of high oil prices.
EU spokesperson Amelia Torres said the rise called for renewed attention and moderation from governments, social partners and companies to avoid "second-round effects".
Energy prices climbed 3.4% in November compared with a month earlier while the year-on-year rise was 9.7%.
Food prices rose 4% year-on-year or 0.7% month-on-month

Climate deal sealed by US U-turn

Delegates at the UN summit in Bali have agreed a deal on curbing climate change after days of bitter wrangling

Agreement was reached after a U-turn from the US, which had wanted firmer commitments from developing countries.
The US and the EU earlier agreed that industrialised countries would not set firm emissions targets at this stage.
The "Bali roadmap" initiates a two-year process of negotiations designed to agree a new set of emissions targets to replace those in the Kyoto Protocol.
"I think we have come a long way here," said Paula Dobriansky, head of the US delegation.
"In this, the United States is very committed to this effort and just wants to really ensure we all act together."
"This is a real breakthrough, a real opportunity for the international community to successfully fight climate change," said Indonesian Environment Minister Rachmat Witoelar, who served as conference president.
UN Secretary General Ban Ki-moon said he appreciated "the spirit of flexibility" shown by key delegations - and was aware that "there is divide of position between and among countries".
"But as this global warming is an issue which affects the whole humanity, whole planet earth, we must have co-ordinated and concerted efforts to address this issue," Mr Ban said.
This is a real breakthrough, a real opportunity for the international community to successfully fight climate change
Rachmat Witoelar, Indonesian Environment Minister
Environmental groups and some delegates have criticised the draft as being weak and a missed opportunity.
The US acceptance came just minutes after it had signalled it would reject the compromise, a statement that drew boos from delegates in the conference hall.
The EU had earlier thrashed out the compromise text with developing countries including China.
They had complained that language on reducing their emissions was too strong, and would commit them to measures that could retard their economic development.
They also wanted the West to pledge more action on transferring clean technology to developing societies.
Observers spoke of emotional scenes in the conference hall - the UN's top climate official Yvo de Boer in tears after being accused by China of procedural irregularities, and cheers and hugs when the US indicated its acceptance.
Talks have been intense, and the meeting has run more than a day beyond its scheduled close, with several night-time sessions.
On the road
The document coming out of the meeting, the "Bali roadmap", contains text on emissions cuts, the transfer of clean technology to developing countries, halting deforestation and helping poorer nations protect their economies and societies against impacts of climate change such as rising sea levels and falling crop yields.
The roadmap sets the parameters and aims for a further set of negotiations to be finalised by the 2009 UN climate conference, to be held in Denmark.
By that stage, parties to the UN Framework Convention on Climate Change (UNFCCC) and Kyoto Protocol should have agreed on a comprehensive plan for curbing global warming and adapting to its impacts.

The US was the principal focus of opposition from activists
This will include firm emissions targets for industrialised countries to replace those in the Kyoto Protocol which expire in 2012, some softer form of targets or ambitions for major developing countries, and mechanisms for leveraging funds from carbon trading to protect forests and fund adaptation projects.
The EU came to the talks demanding that industrialised nations commit to cuts of 25-40% by 2020, a bid that was implacably opposed by a bloc containing the US, Canada and Japan.
This dispute was resolved with a text that did not mention specific emissions targets but did acknowledge that "deep cuts in global emissions will be required to achieve the ultimate objective".
France's Deputy Ecology Minister Nathalie Kosciusko-Morizet acknowledged the deal amounted to far less than the EU had wanted.
But, she told the AFP news agency: "The public can understand that we brought the United States into the negotiations.
"It's a framework that is quite weak but which still moves forward."
Tree line
Earlier, consensus was reached on the principle of rewarding poorer countries to protect their forests.
This is widely acknowledged as the cheapest single way of curbing climate change, and brings benefits in other environmental areas such as biodiversity and fresh water conservation.
Delegates agreed on a framework that could allow richer nations and companies to earn "carbon credits" by paying for forest protection in developing countries.
"We need to find a new mechanism that values standing forests," said Andrew Mitchell, executive director of the Global Canopy Programme, an alliance of research institutions.
"Ultimately, if this does its job, [deforestation] goes down to nothing."
Mr Mitchell said the only feasible source of sufficient funds was a global carbon market.
But many economists believe mandatory emissions targets are needed to create a meaningful global market.

Old differences surface, consensus sinks

KATHMANDU, Dec 14 - The much anticipated high-level talks between the major political parties failed to forge an agreement Friday.
After the top leaders could not find a consensus on the current political issues during the high-level informal meeting, the formal seven-party meeting to end the current political deadlock--that was supposed to take place this afternoon—did not take place.
Top leaders of the major four parties, Nepali Congress (NC), UML, Maoists and People’s Front-Nepal, took part in the informal meeting held at Prime Minister Girija Prasad Koirala’s official Baluwatar residence.
According to sources, although the political parties have reached an agreement on major issues including the proclamation of a republic through the interim parliament and approving the decision by the first meeting of the elected Constituent Assembly (CA), they are still divided on the technicalities of the mixed and multi proportional electoral proportional system.
The major parties have not arrived at a conclusion on whether to adopt a sixty percent proportional representation (PR) system for the Constituent Assembly (CA) elections and a forty percent mixed-system and to mention the term ‘republic’ in the constitution, the sources added.
Meanwhile, CPN-Maoist spokesman Krishna Bahadur Mahara claimed that the PM was not serious on resolving the current political deadlock.
He said that the meeting could not forge an agreement as the NC had reiterated its old stance on the PR electoral system.
The differences between the Maoists and the NC surfaced once again as PM and Nepali Congress President Koirala rejected Maoist Chairman Prachanda’s proposals during the informal talks.
Prachanda had proposed a roundtable conference to take a decision on a new election system if the NC could not go for a fully proportional electoral system for the CA elections, sources said.
However, the NC sources claimed that the UML General Secretary Madhav Kumar Nepal and Maoist Chairman Prachanda left the PM’s residence one after another saying “call us when we are needed”.
They further claimed that when the parties had already reached an agreement on the declaration of a republic and the adoption of the PR system, the high-level talks couldn’t find a consensus after the Maoists and the UML put forth “new and additional demands”.
Although the top leaders have reached an agreement on major issues, they are still divided on the reshuffling of the government.
The top leaders of the major parties are likely to hold another round of talks tomorrow morning, sources added.
Maoist second-in-command, Dr Baburam Bhattarai said that the irresponsibility shown by the NC was the main reason why today’s talks failed.
He also dismissed NC’s claim that it had reached an agreement on the republic and the PR system saying it was just NC propaganda.
“This is not a fact,” he said, “They (Nepali Congress) have not cleared their stance yet.”
He further accused the NC of neither announcing its stance nor accepting their [Maoist] proposals.
“Nepali Congress is neither serious about creating an outlet to the current political crisis nor to holding the Constituent Assembly elections,” he said. “The NC has not cleared its stance nor put forth their views even till the last moment at a time when we should have already found a consensus.”
“If a consensus is not found by tomorrow, the country is likely to face a moral and constitutional crisis,” he warned adding that the Nepali Congress should take the responsibility if such a situation occurs.
The seven-parties have only a day left to avoid a constitutional crisis by forging an agreement, as amendments to the constitution must be made by the government by mid-December as per the interim constitution.
He further said that if the parties failed to forge an agreement by Saturday, the NC would be solely responsible as it is leading the seven-party coalition government.

Smoking 'raises risk of diabetes'

Proving a cause and effect is very difficultSmoking is linked to a significantly increased risk of developing type 2 diabetes, US research suggests.

The University of Lausanne looked at 25 studies involving 1.2m patients.
They found smokers had a 44% increased risk of type 2 diabetes compared with non-smokers - with the risk rising with the number of cigarettes smoked.
The Journal of the American Medical Association study found the increased risk for those who smoked at least 20 cigarettes a day rose to 61%.
Smoking may be one of the pieces missing from the diabetes jigsaw which could help us to identify who is at higher risk
Douglas SmallwoodDiabetes UK
For lighter smokers the risk was 29% higher than for a non-smoker.
The increased risk of developing diabetes in former smokers was 23%.
The researchers said: "We conclude that the relevant question should no longer be whether this association exists, but rather whether this established connection is causal."
They admitted that the research did not prove that smoking contributed to the development of diabetes.
But they suggest the fact that people who smoked most heavily were most at risk is significant.
Previous research has linked smoking to insulin resistance - a condition which often leads to diabetes.
Unhealthy lifestyle
However, proving a link is very difficult because smokers tend to indulge in other unhealthy habits, such as not exercising enough and eating unhealthy foods.
About three in 100 people in the UK aged over 40 and about 10 in 100 people over 65 have type 2 diabetes.
It is more common in people who are overweight or obese and also tends to run in families.
Douglas Smallwood, of the charity Diabetes UK, said: "This is interesting research. Smoking may be one of the pieces missing from the diabetes jigsaw which could help us to identify who is at higher risk.
"We already know that certain lifestyle factors such as being overweight or leading a sedentary lifestyle increase the risk of developing type 2 diabetes.
"Type 2 diabetes is increasing at an alarming rate with 100,000 people diagnosed every year.
"The more we can find out about the exact causes of the condition the better chance we have of slowing down this growth."

Fertility falls with weight gain

An overweight woman's chance of getting pregnant steadily falls as her weight increases, a major study has found.

Among 3,000 women with fertility problems, there was a 4% drop in the chance of pregnancy for every body mass unit (BMI) rise above a certain point.
Dutch scientists, writing for the journal Human Reproduction, said that very obese women fared the worst.
The British Fertility Society says some women weight should be barred from IVF on account of their weight.
Given the increased prevalence of obesity, this is a worrying finding Dr Jan Willem van der SteegStudy author
Calculate your BMI
The level of obesity among would-be mothers is increasing in the UK faster than in almost any other country in the world.
Doctors know that this affects a woman's chances of getting pregnant naturally, but are more worried by the increased risks to her health - and the health of her baby - that the extra weight poses.
The study by researchers at the Academic Medical Center in Amsterdam is the first to follow a large group of women trying for a baby, and to see directly what effect their body mass had on the outcome.
The standard unit of weight is body mass index (BMI), which is the weight in kilograms divided by the height squared.
Anything above 25 is considered overweight, while exceeding 30 is defined as "obese".
All the women in the study had come to see fertility doctors, but there was no obvious reason for their failure to conceive, as they were still ovulating normally.
Some women with "unexplained infertility" do go on to become pregnant naturally.
Steady fall
The study found that there was a clear relationship between their BMI and their likelihood of achieving this.
Compared with women with a BMI between 21 and 29, for every BMI point between 30 and 35 there was a 4% drop in conception rates.
Severely obese women, with a BMI of over 35, were between 26% and 49% less likely to conceive compared with a BMI between 21 and 29.
Dr Jan Willem van der Steeg, who led the study, said: "Given the increased prevalence of obesity, this is a worrying finding.
"We think that women should be informed about their lower pregnancy chances due to their overweight.
"We hypothesise that losing weight will increase the chance to conceive without treatment."
Ban recommended
This position is shared by the British Fertility Society, which issued guidelines to its members last month urging them to withhold fertility treatment from obese women until they lost weight.
Mr Tony Rutherford, who helped draw up the guidance, said: "Over the last few years there has been evidence that obesity can harm the fertility of women.
"It decreases the chances of getting pregnant, and increases the risks of pregnancy - to both mother and child.
"Sometimes there are difficult balances to be made, and obviously we do feel for couples who are trying to have a baby."

Has Smith seen off 'spin' charge?

Home Secretary Jacqui Smith agreed with her Tory accusers that she had to pass two tests over the latest illegal migrants row.

She had to show she had dealt with the crisis as soon as she was aware of it and that she had been "open and honest" with MPs and the public about the situation.
She probably did better on the first than on the second.
Ms Smith told MPs of the measures she had taken to get to grips with the problem and speed up what she accepted were slow checking procedures as far back as last April.
She also confirmed one of the individuals involved had been working for the Metropolitan Police where he guarded government cars, including the prime minister's.
She did not specifically mention the prime minister's car in the Commons, but it was in copies of the statement handed to her opposite number David Davis.
She insisted the measures she had taken to launch a thorough review of all those immigrants in sensitive security posts had been robust in order to root out anyone working illegally.
Full analysis
She went so far as to say she had not told the prime minister of the issue because there had been no "fiasco or blunder", action had been taken and ministers did not go "running" to the PM on such occasions.
But she also confirmed she was not yet in possession of a full analysis of the size of the problem but would come back to the Commons next month to bring MPs up to date.

Illegal immigrants worked for the Met Police and at airports and portsNeedless to say, some were more convinced than others. Crucially for any minister under pressure, however, her own backbenchers appeared pretty convinced and there was no sense of a clamour for her head - not even the opposition has gone that far.
But where Ms Smith struggled most was over the question of why she had failed to make any of this public before today - and only then because of leaks to the media about the affair.
Her argument boiled down to a claim that she was not one of those politicians who went public on an issue before she had got all the facts.
She made no apology, she insisted, for being the sort of minister who was more concerned about what she should do about something than what she should say about something.
Cover up
And it is that bit that left many, particularly on the Tory benches, entirely unconvinced.
Shadow home secretary David Davis was having none of it, claiming the Home Office's reaction once the affair had emerged was one of "blunder, panic and cover up".
Was it really the case that, having known about the affair since April, this was the first opportunity she had had to tell MPs about it, he asked.
And it is this sense of cover-up and spin, of attempts to bury bad news, that risks attaching itself to the Gordon Brown government.
Mr Brown entered Downing Street heralding a different kind of politics which would be more frank, open and candid - as Mr Davis reminded her.
The Tories believe this affair is the clearest evidence yet that nothing has change and it is the same old game in government. And that is a charge Mr Brown will dearly want to see off.

Second Test, SSC Colombo: (day five, close)

England drew the second Test against Sri Lanka and kept the series alive after rain brought an early end to the match in Colombo.

England reached 250-3, with their top order all weighing in, before play was halted at tea on the final day.
Fifties from Michael Vaughan, Alastair Cook and Ian Bell ensured the tourists will travel to Galle for the final Test with a chance to level the series.
Kevin Pietersen was 45 not out at the close, with Paul Collingwood on 23.
Interview: England captain Michael Vaughan
England bossed the morning session on an easy-paced pitch with Vaughan and Cook completing their second hundred partnership of the match.
It was only the eighth time an opening pair had produced a century partnership in both innings of a Test match and the first time an English pair have managed the feat since Geoff Boycott and John Edrich against Australia in 1970-71.
606: DEBATE
Did Sri Lanka cost themselves a better shot at winning this game by crawling along at less than 3-an-over or should credit go to the England attack?
SA
In the first over Vaughan survived an lbw shout from Lasith Malinga but he also picked up two boundaries and the England captain looked in prime form.
However, a lofted check drive over mid-off when Fernando held one back was an omen of what was to come.
The big Sri Lanka paceman, who is playing through the pain from an ankle problem, was varying his speed cleverly and when he took the pace off a delivery Vaughan drove it straight into Fernando's midriff to depart for 61.
Bell joined Cook and they guided England to 152-1 at lunch with Sri Lanka captain Mahela Jayawardene regularly rotating his attack as he strove for a breakthrough.
Despite finding turn as always, Muttiah Muralitharan was dealt with fairly comfortably and it was part-time leg-spinner Chamara Silva who took the second wicket.
He had forced Cook to grope at a couple before lunch and with the first ball after the interval he persuaded the left-handed opener to edge to slip for 62.
Bell started brightly, taking two fours off his first over from Chaminda Vaas, and he was not afraid to use his feet to the spinners, dancing down the pitch to loft Muralitharan through mid-on for four off the last ball of the morning session.

Cook scored his second fifty of the game before edging to slip
He put on fifty with Pietersen but no sooner had the pair taken England into the lead, the Warwickshire man tried to attack Muralitharan again and succeeded only in lofting the ball to the diving Michael Vandort at long-on to depart for 54.
From a position of some comfort England, with the inexperienced Ravi Bopara at six and a long tail, were suddenly feeling a touch insecure.
What they needed was a calming influence and Collingwood was just the man to settle the nerves.
Over the next 10 overs the Durham scrapper ground out just 21 runs with Pietersen as Muralitharan and Vaas applied pressure.
Pietersen was as happy to graft away as Collingwood but the pressure was released when leg-spinner Silva came on and his first delivery, a horrible long-hop, was hoisted over mid-wicket by the Hampshire man for England's first six of the series.
With a 53-run lead at tea, England would have been very confident of saving the match and the arrival of the rain brought a swift conclusion to a game which had long since seemed destined for a draw.
Sri Lanka take a 1-0 lead into the Galle Test, which starts on 18 December.

Capello to become England manager

Fabio Capello will be appointed the next manager of England later on Thursday, BBC Sport understands.
BBC sports editor Mihir Bose says the Italian will be offered a contract to 2010 worth £4m a year, with the option to extend it after the World Cup.
Capello, 61, is in Milan but told the BBC there are a few issues to sort out before his appointment is confirmed.
Asked by 5 Live's Brian Alexander if he was about to become the England boss, he replied: "Not yet. We shall see."
Capello's appointment is expected to be ratified by the Football Association following a conference call involving board members at lunchtime.
The former AC Milan, Real Madrid, Roma and Juventus coach succeeds Steve McClaren, who was sacked in November following England's failure to qualify for next year's European Championships.
There is no concrete news yet on Capello's assistants, but there is expected to be some kind of English influence, with Alan Shearer or Stuart Pearce tipped to earn a role in the new managerial set-up.
606: DEBATE
I find it amazing how quickly this deal has gone through, especially considering the amount of time we have until the next competitive game
MFE
BBC Sport understands that Capello wants to include Franco Baldini in his backroom team, but the FA are yet to be convinced.
Baldini, who worked with Capello at Roma and Real Madrid, would take on a sporting director role, helping to identify players and watching opposition teams.
The FA are believed to be concerned that the role could overlap with Sir Trevor Brooking's responsibilities, who is director of football.
But Capello has a close relationship with Baldini and believes his footballing expertise would be invaluable.
Former Chelsea boss Jose Mourinho was the initial favourite to take over from McClaren, but he eventually ruled himself out of the running.
The FA quickly turned its attentions to Capello, although World Cup-winning coach Marcello Lippi was also thought to be in contention.
Capello expressed his interest in the job just days after McClaren's departure, describing it as a "beautiful challenge".
He finally met for discussions with FA chief executive Brian Barwick and director of football Brooking in London on Wednesday.
Those talks were described as "extremely positive" by FA director of communications Adrian Bevington.
Capello has a hugely impressive CV and comes with the backing of such football luminaries as Sir Alex Ferguson, Arsene Wenger, Gianfranco Zola and Clarence Seedorf.
Sven-Goran Eriksson, the first foreigner to take charge of the England national team, is also a big fan.
"I have known Fabio Capello for many years, I was his opponent in Serie A for 10 years," said the Swede, who was coach of Roma, Fiorentina, Lazio and Sampdoria.
"He is a very good man and manager. His record speaks very clear. He has won titles in Italy.
"Capello is one of the best managers you can find."
Capello has only a limited grasp of the English language but Eriksson added: "That won't be a problem. It certainly wasn't for me as I spoke to him in Italian!"
You will not see him in trouble with the tabloids... his life is all about football
Marcel Desailly
Capello has enjoyed success in both Italy and Spain.
He has won nine league titles in 16 years as a coach, picking up silverware with all four clubs - AC Milan, Real Madrid, Roma and Juventus - he has been in charge of.
He won the Champions League with Milan in 1994 and was also an accomplished player, winning 32 caps for Italy.
Marcel Desailly played under Capello at Milan during his first spell in charge and has no doubt his former coach will be a success.
"He's professional and very demanding, but I think that's what the England players need," the Frenchman told BBC News 24.
"He will put them under pressure to deliver, but that is a good thing.
There's a lot of good Englishman and I just think it was only right we should have tried to get someone English
Former England captain Tony Adams
"And you will not see him in trouble with the tabloids. His life is all about football and he will be focused on his job."
Former England captain Tony Adams is not entirely happy the England job has gone to a foreigner.
"I wanted English," said the Portsmouth assistant manager, who, as part of his coaching education, has been out to Italy to watch Capello in action.
"There's a lot of good Englishman and I just think it was only right we should have tried to get someone English.
"But you cannot argue with Capello's CV, he's got a fantastic CV and won a lot of trophies in his time."
Capello's first game in charge will be a friendly against Switzerland at Wembley on 6 February, with another friendly to follow against France in Paris on 26 March.
England's first World Cup qualifier is not until 6 September.
They have been drawn in a group alongside Croatia, Ukraine, Belarus, Kazakhstan and Andorra.

15 Park Avenue Movie Bollywood News

This is a story of two sisters, Anjali and Mitali - Anu and Meethi as they are called affectionately at home.

Anjali (Shabana Azmi) and her brother Mahesh were their mother Rewa's (Waheeda Rehman) children from her first marriage to Col. Mathur who had died soon after Mahesh was born. Rewa had brought up her two small children with the help of her late husband's friend - a bachelor by the name of Brigadier Sunil Mathur. Later, Rewa had married Sunil who had been a good surrogate father to Anjali and Mahesh and Mitali (Konkana Sen Sharma) had been born. She was the baby of the family, eighteen years younger than Anjali and thirteen years younger than Mahesh.

Anjali had married quite early but was soon divorced and came back to live with her mother and stepfather. Anjali was brilliant. She was a professor of Physics at a noted university in Calcutta and a writer of repute in her field. Mahesh had become quite successful in the corporate world and lived separately with his wife Padma, their eight year-old twins Samir and Shreya and newborn daughter Shalini. Mitali, the youngest, was the most unfortunate of Rewa's three children.Whether it was because of Rewa's late pregnancy at the age of forty or simply as a result of some genetic quirk, Mitali or Meethi turned out to be mentally and physically challenged. She suffered both from chronic schizophrenia and epilepsy and had to be cared for by her family. In spite of her illness, Meethi had been quite functional up to her early twenties. She had even got engaged to a young man called Joydeep or Jojo, as she called him. The family, Meethi's elder sister Anu in particular, had been against the engagement at first because of Meethi's medical problems but had finally given in with good grace. There had been a huge engagement ceremony, which was more like a wedding than an engagement. After that, disaster had struck! Meethi, who was working for a publishing house as a journalist, had gone by herself on a journalistic assignment outside Calcutta where political goons had raped her repeatedly. This incident had acted as a trigger for Meethi's hitherto dormant schizophrenia. Joydeep who was only twenty-six at the time, was unable to relate to Meethi any longer and had broken off the engagement. Meethi had become depressive to the point of being suicidal and had even had to be put away in a home for the mentally ill for a while.Later she was brought back home but she was never the same again. She now lived completely in a delusional world where she was married to Jojo and was Mrs. Joydeep Ray with five children of her own. She believed that she lived with her husband and children at 15 Park Avenue and would insist on being taken to look for her house, which she could never find. After Sunil died, Anu became the sole caregiver to her widowed mother and schizophrenic sister. As a result Anu became a much stressed individual and Meethi's doctor Kunal Barua advised her to take a break from work - to go away for a holiday far from her stressful city to a place where the air was pure and the climate was healthy.Anu, Meethi, their mother Rewa and Meethi's attendant Charu came to Bhutan for the prescribed holiday. By a strange co-incidence Joydeep was here too with his wife Lakshmi and their two children. He saw Meethi quiet unexpectedly while they were sightseeing and felt completely shattered at the change he saw in her. He could not get rid of his feelings of guilt and followed Anu and Meethi to their rented cottage. Anu was stunned to see him and struggled to control the feelings of intense resentment that welled up inside her. She was also worried in case Meethi had a setback when she met him - but strangely, Meethi did not recognize him at all! She continued to call him Mr. Roy after she was introduced to him never dreaming that this was in fact her beloved Jojo.

Meethi became quite friendly with Joydeep who kept coming over to their cottage in spite of his wife's reservations, and confided in him about her husband Jojo and her five children. She entreated him to help her find her house at 15 Park Avenue and to help her get away from her sister whom she imagined to be completely tyrannical!Joydeep was miserable! He felt like a bigamist! He was in a strange situation where he was happily married to a woman he loved and with whom he had had two lovely children; yet, here was another woman who believed she was married to him and whose world with him was totally real to her! Joydeep was nonplussed. Should he go with her to look for 15 Park Avenue after they returned to Calcutta? They would not be able to find the house, of course - no such house existed except in Meethi's imagination! In fact, there was no Park Avenue on the map of Calcutta! Yet, if he did not go, Joydeep felt, he would be letting Meethi down a second time.Back in Calcutta Joydeep does go with Meethi to look for 15 Park Avenue - to look for something one can never find. But, is Meethi the only one who is looking for the impossible? Is she the only one with delusions? Aren't we all - the so-called 'sane' people of the world - under delusions of our own?

Nepal, Korea sign labour pact

KATHMANDU, Dec 11 - Nepal and South Korea Tuesday signed the much awaited Implementing Agreement (IA), a technical agreement on Nepali workers under the Employment Permits System (EPS).

Keshar Bahadur Baniya, director general of the department of labor and Lee, his South Korean counterpart, sealed the pact on behalf of their respective governments amidst a function held in the capital today.
Prolonged disagreement between the two countries on the modality for imparting Korean language training to Nepali job aspirants had delayed the agreement, which was originally expected to be signed in September this year. Nepal had inked a Memorandum of Understanding (MoU) with Korea in July 23, 2007.
A specific curriculum for language training, skill and qualification of workers, location of workers selection, age barrier, health certification, modalities for training in Korean language and proficiency tests, among other things are part of the pact.
To address the problem of labor shortage, South Korea had enacted EPS system under which Korean employers could recruit foreign workers who will be entitled to basic rights specified in Korean labor law.
South Korea, a lucrative destination for Nepali workers, has already absorbed around 5000 Nepali workers.
Nepal was stressing that selection centers should be opened in different parts of the country to provide easy access to poor job aspirants living in remote parts of the country along with role of government to set criteria for institutes imparting Korean language training, the South Koreans had initially refused.
Both sides later came to an understanding on allowing the opening of language institutes in different parts of the country with the provision that proficiency test would be conducted jointly by the authorities from both sides under certain norms.
The government had finalized the criteria for Korean language training institutes on Friday.
There are about 5,000 job quotas that South Korea was expected to allocate to Nepal under EPS for 2007.

Tripathi warns of separatist movement if army is moblised in Terai

KATHMANDU, Dec 11 - One of the senior Madhesi leaders, who resigned from the interim parliament on Monday, has warned that a separatist movement could start in Terai if the government moblised the army to quell the Madhes agitation.

Interacting with reporters in the capital Tuesday, Hridayesh Tripathi, who has also resigned from Nepal Sadbhavana Party-Anandi Devi, said, “If army is mobilised, then we would be in an unimaginable incident. The Madhes is in federal mood, but if the army mobilization moves ahead then a separatist movement would start there.”
He also recalled that they had said the same thing when Maoist second-in-command Dr Baburam Bhattarai had said that both Nepal Army and the Maoist People’s Liberation Army should be sent to curb the Madhesi revolt.
He also took a strong exception to statement some senior leaders of the Seven-Party Alliance that the new political polarisation was being directed by India.
“This is not the andolan of Jharkhand or Kashmir,” he added, “This is not any other country’s agitation.”
Such remarks are part of the conspiracy to defame the Madhesi andolan, he added.
“The people of Madhes are fighting for their justified rights and dignity. It is being carried out within the country and is one of the crucial parts of all the andolans the country has seen,” he asserted.
He also said that the objective of establishing a new party was not to weaken any other party, demand for a separate Terai state or to disrupt the Constituent Assembly elections.
However, he warned that if the state tries to suppress the Madhes andolan through armed means, then the Madhes movement could turn into a separatist movement.
Tripathi also claimed that more MPs from Madhesi would tender their resignations and join them.
CPN-UML, Nepali Congress and Maoists leaders who were present in the programme admitted that it was not a bad thing to start a new party but were critical of the fact that this has come at a time when the peace process is in quagmire and this had aroused various doubts.
Nepali Congress leader Dr Ram Baran Yadav said, “They have to be careful since regressive and undemocratic forces could take advantage and fish in troubled waters,” Dr Yadav cautioned. “They should fall pray to the design of forces opposed to democracy and stability in the country.”
Maoist leader Barsha Man Pun ‘Ananta’ said that move of a Madhesi minister and some lawmakers hinted at a serious political polarisation in the country.
Former Rastriya Janashakti Party spokesman Sarbendranath Shukla, who has also resigned from the party, informed that they would register the party and publicise its manifesto within the next 15 days.

President Bush Hosts Hanukkah Reception

THE PRESIDENT: Thank you. Good evening. Laura and I welcome you to the White House. Mr. Attorney General, thank you for being here. Secretary Chertoff, and family. Hanukkah is a time of joy and festivity in the Jewish religion. We're honored to gather with members of the Jewish community to celebrate this holiday.

During Hanukkah, we remember an ancient struggle for freedom. More than two thousand years ago, a cruel tyrant ruled Judea -- and forbade the Israelites from practicing their religion. A band of brothers came together to fight this oppression. And against incredible odds, they liberated the capital city of Jerusalem. As they set about rededicating the holy temple, they witnessed a great miracle: That purified oil that was supposed to last for one day burned for eight.
Jewish families commemorate this miracle by lighting the menorah for the eight nights of Hanukkah. The Talmud instructs families to place the menorah in public view -- so the entire world can see its light. The flames remind us that light triumphs over darkness, faith conquers despair, and the desire for freedom burns inside every man, woman and child.
As we light the Hanukkah candles this year, we pray for those who still live under the shadow of tyranny. This afternoon, I met with a group of Jewish immigrants to mark International Human Rights Day. Many of these men and women fled from religious oppression in countries like Iran and Syria and the Soviet Union. They came to America because our nation is a beacon of freedom. And they see a day of hope on the horizon when people all across the world will worship in freedom. The forces of intolerance can suppress the menorah -- but they can never extinguish its light.
The menorah we light tonight has special meaning. It once belonged to Chayim Pearl -- who was the great-grandfather of Wall Street Journal reporter, Daniel Pearl. While reporting in Pakistan in 2002, Daniel was kidnapped and murdered by terrorists. His only crime was being a Jewish American -- something Daniel Pearl would never deny. In his final moments, Daniel told his captors about a street in Israel named for his great-grandfather. He looked into their camera and he said, "My father is Jewish, my mother is Jewish, and I'm Jewish." These words have become a source of inspiration for Americans of all faiths. They show the courage of a man who refused to bow before terror -- and the strength of a spirit that could not be broken.
Daniel's memory remains close to our hearts. Those who knew him best remember a gifted writer who loved the violin, and made friends wherever he went. We're honored that Daniel's parents -- Ruth and Judea -- have joined us today. We thank them for their work on behalf of the Daniel Pearl Foundation. The foundation helps bring people from different cultures together through journalism and music. It's a fitting tribute to Daniel's lifelong pursuit of truth and tolerance. By honoring Daniel, we are given the opportunity to bring forth hope from the darkness of tragedy -- and that is a miracle worth celebrating during the Festival of Lights.
Laura and I wish people of Jewish faith around the world a happy Hanukkah. May God bless you all. Tonight, we will hear a wonderful performance by the Zamir Chorale. But first I ask Ruth and Judea to light the Pearl family menorah, and lead the blessings.

Police bust fake credit card racket

KATHMANDU, Dec 11 - One Chinese and two Malaysians buying expensive watches, jewelry, cell phones and other branded items at a premier shopping complex in Kathmandu got busted when a credit card they produced was rejected by the transaction machine, Saturday.
Alerted by the group's lavish shopping spree, a person at the counter at Bluebird shopping complex at Tripureswor promptly informed the police. Police had earlier circulated notice that forged credit card crime was on the rise in Kathmandu.

Subsequently, Metropolitan Police Range Office, Kathmandu arrested the three, and another Malaysian from a hotel at Lazimpat. A Nepali accomplice was later arrested from her apartment.
According to Sarbendra Khanal, chief of Metropolitan Police, Kathmandu, police first arrested Yao Jingyang and his Malaysian accomplices Achhanan Paidiya and Mukundan Ramana from the shopping complex. Later
police seized Benni Singh
Khing Hul, also a Malaysian, from Gangjong Hotel. A Nepali, Dhan Maya Rai, was arrested from Chabahil.
Four of the accused came to Nepal from Singapore Thursday, apparently to buy luxury items through their unscrupulous means, police said.
Police have recovered 17 ATM cards and 15 credit cards, besides a large number of exclusive items the arrested purchased with the help of the forged cards. The recovered items include newly-bought gold jewelry, Omega, Rolex, Tourbillion and Titan brand wristwatches, mobile phones, iPods and digital cameras.
After preliminary investigation, police said the arrested were found to have purchased articles worth
Rs 724,557 through various
shopping outlets that accept credit cards recognized by Alpine Card Service. Police have also recovered US dollars 1,723, Rs 15,410 and Malaysian Ringitt 254.
"Acting on a special tip-off we deputed plain clothes police at various ATM card centers and shopping outlets where people swipe their credit cards," said SP Khanal. "All the arrested have admitted that they were using forged cards."
Experts say that thieves often rifle through trashcans behind shops or restaurants for the carbons behind the receipts.

Labor pact with S Korea today

KATHMANDU, Dec 11 - Nepal is signing Tuesday the much awaited Implementing Agreement (IA) with South Korea, a technical agreement on Nepali workers under the Employment Permits System (EPS).
Keshar Bahadur Baniya, director general of the department of labor and Lee, his South Korean counterpart,
are sealing the pact on behalf
of their respective governments.

Prolonged disagreement between the two countries on the modality for imparting Korean language training to Nepali job aspirants had delayed the agreement
which was originally expected to be signed in September this year. Nepal had inked a Memorandum of Understanding (MoU) with Korea in July 23, 2007.
A specific curriculum for language training, skill and qualification of workers, location of workers selection, age barrier, health certification, modalities for training in Korean language and proficiency tests, among other things are part of the pact.
To address the problem of labor shortage, South Korea had enacted EPS system under which Korean employers could recruit foreign workers who will be entitled to basic rights specified in Korean labor law.
South Korea, a lucrative destination for Nepali workers, has already absorbed around 5000 Nepali workers.
Nepal was stressing that selection centers should be opened in different parts of the country to provide easy access to poor job aspirants living in remote parts of the country along with role of government to set criteria for institutes imparting Korean language training, the South Koreans had initially refused.
Both sides later came to an understanding on allowing the opening of language institutes in different parts of the country with the provision that proficiency test would be conducted jointly by the authorities from both sides under certain norms.
The government had finalized the criteria for Korean language training institutes on Friday.

Minister Thakur, 3 MPs resign over Madhes crisis

KATHMANDU, Dec 10 - Minister of Science and Technology Mahantha Thakur, who is also a senior Nepali Congress leader, and three parliamentarians representing constituencies in the Terai resigned Monday, stating that the state has continued to act indifferent to the problems prevailing in the region.

They said that they would launch a bold but peaceful agitation in Madhes.Hridayesh Tripathi of Nepal Sadbhavana Party-Ananda Devi (NSP-A), Mahendra Yadav of the CPN-UML and Ram Chandra Rai of the Rastriya Prajantantra Party were the lawmakers who submitted their resignation letters to Speaker Subash Nemwang this morning saying that they were setting up a Madhes Regional Party.

They said that they were resigning as the seven-party, the interim government and even the interim parliament have not paid required attention to the demands of the Madhes people.“We cordially appeal to participate in the campaign to establish an extensive Terai-Madhes force for the determining peaceful agitation against inequality,” they said.The Madhesi lawmakers are striving to unite to give a ‘democratic’ outlet to the Madhes crisis, Tripathi said. He also claimed that other Madhesi MPs were also preparing to step down.The resignations come at a time when the NSP-A and Madhesi People’s Rights Forum are launching a joint agitation for Madhesi rights.

Rastriya Janashakti Party spokesman Sarbendranath Sukla, Nepali Congress leader Anish Ansari, Brishesh Chandra Lal, Ram Chandra Kushwaha and UML leader Shri Krishna Yadav of UML have also resigned from the party.