Euro rises, shares gain as Europe's outlook brightens

LONDON (Reuters) - The euro hit a fresh 14-month high and European stocks gained on Friday after economic data raised hopes that the region's downturn has eased, but moves were limited as investors await a U.S. jobs report.

Euro zone factories had their best month in nearly a year during January although the currency bloc is likely to remain mired in recession for a few more months, the latest reading of Markit's Purchasing Managers' Index (PMI) showed.

"Providing there are no further setbacks to the region's debt crisis, these data add to the expectation that the euro zone is on course to return to growth by mid-2013," said Chris Williamson, chief economist at data compiler Markit.

The euro hit a high of $1.3657 after the data came out, its highest level since November 2011. The common currency also hit a 33-month high against the yen, rising more than 1 percent to 125.96 yen.

The pan-European FTSEurofirst 300 index <.fteu3> extended its recent gains by 0.4 percent to 1,169.14 points, near a 23-month high after solid rally since the start of the year. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were up between 0.5 and 0.8 percent.

Earlier, China's official PMI for January eased to 50.4, missing market expectations for a rise and underscoring the fragility of the recovery from the economy's weakest year since 1999.

However, a separate private survey showed that growth in China's giant manufacturing sector hit a two-year high in January as domestic demand strengthened, underlining hopes the nation's economic recovery is slowly gaining momentum.

The Chinese data left MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> little changed

EURO STRENGTH

The euro has risen significantly in recent weeks as the outlook for the 17-nation currency bloc has improved, and also as investors respond to the sharply easier monetary policies of the U.S. Federal Reserve and Bank of Japan.

"The perception is that the ECB is being less supportive and is not providing as much liquidity as the other central banks are," said Andrew Milligan, head of Global Strategy at Standard Life Investments.

At the same time liquidity in the European money markets is being affected by quicker-than-expected repayments of crisis loans handed out by the ECB at the height of the bloc's crisis just over a year ago.

Banks have another two years to pay back the money if they want, but have taken the opportunity this week to return over a quarter of the 489 billion euros ($663.77 billion) they took in the first of the ECB's two "LTRO" handouts.

From now on they can pay back as little or as much of the remaining money as they want each week. After the fast start, analysts are awaiting Friday's details of next week's repayments for clues on whether the pace is likely to continue.

Money market rates have already risen by a quarter of a percentage point since the start the year - the equivalent of a standard ECB interest rate increase - and are likely climb by at least the same amount again if the money continues to drain rapidly from the system.

For Europe's struggling countries and the ECB this is not an ideal situation, effectively tightening monetary policy and creating unwanted stress just as economies are showing fragile signs of improvement.

JOBS EYED

Friday's U.S. nonfarm payrolls data due at 8:30 a.m. ET could be a another factor to drive the euro higher, as a strong report would knock the safe-haven dollar.

The dollar was trading at a 3-1/2 month low against a basket of currencies <.dxy> on Friday after falling 0.3 percent to 78.97 points.

Employers are expected to have added 160,000 new jobs to their payrolls in January, a marginal step up from December's 155,000 gain, according to a Reuters survey of economists. The unemployment rate is seen holding steady at 7.8 percent.

The U.S. economy unexpectedly contracted in the fourth quarter, its weakest performance since emerging from recession in 2009, and it grew just 2.2 percent in the whole of 2012.

The U.S. ISM factory survey, a national report on the state of American manufacturers, is also due at 10 a.m. ET.

(Additional reporting by Marc Jones,; editing by Philippa Fletcher)

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Carville, Matalin enjoy role as Big Easy boosters

NEW ORLEANS (AP) — When Mary Matalin heard a baby cry during a Super Bowl news conference this week, she paused midsentence, peered in the direction of the fussing child and asked: "Is that my husband?"

Matalin, the noted Republican political pundit, isn't shy about making jokes at the expense of Democratic strategist James Carville, who went from being her professional counterpart to her partner in life when they were married — in New Orleans — two decades ago.

This week, though, and for much of the past few years, the famous political odd couple have been working in lockstep for a bipartisan cause — the resurgence of their adopted hometown.

Their passion for the Big Easy and its recovery from Hurricane Katrina was why Carville and Matalin were appointed co-chairs of New Orleans' Super Bowl host committee, positions that made them the face of the city's effort to prove it's ready to be back in the regular rotation for the NFL's biggest game.

"Their commitment to New Orleans and their rise to prominence here locally as citizens made them a natural choice," said Jay Cicero, president of the Greater New Orleans Sports Foundation, which handles the city's Super Bowl bids. "It's about promoting New Orleans, and their being in love with this city, they're the perfect co-chairs."

Carville, a Louisiana native, and Matalin moved from Washington, D.C., to historic "Uptown" New Orleans in the summer of 2008, a little less than three years after Katrina had laid waste to vast swaths of the city. There was not only heavy wind damage but flooding that surged through crumbling levees and at one point submerged about 80 percent of the city.

The couple had long loved New Orleans, and felt even more of a pull to set down roots here, with their two school-age daughters, at a time when the community was in need.

"The storm just weighed heavy," Carville said. "We were thinking about it. We'd been in Washington for a long time. The more that we thought about it, the more sense that it made. We just came down here (to look for a house) in late 2007 and said we're just going to do this and never looked back."

Matalin said she and Carville also wanted to raise their daughters in a place where people were willing to struggle to preserve a vibrant and unique culture.

"It's authentically creative, organically eccentric, bounded by beauty of all kinds," she said. "People pull for each other, people pull together. ... Seven years ago we were 15 feet under water. ... This is unparalleled what the people here did and that's what you want your kids to grow up with: Hope and a sense of place, resolve and perseverance."

Carville has been an avid sports fan all his life, and Matalin jokes that he now schedules his life around Saints and LSU football.

An LSU graduate, Carville has been a regular sight in Tiger Stadium in Baton Rouge, often wearing a purple and gold rugby-style shirt.

In New Orleans, he and Matalin have lent their names not just to the Super Bowl host committee, but to efforts to prevent the NBA's Hornets from leaving when the ownership situation was in flux.

"I was scared to death they would leave the city," said Carville of the Hornets, who were purchased by the NBA in December of 2010 when club founder George Shinn wanted to sell and struggled to find a local buyer. "We were starting to do better (as a community). It would have been a terrible story to lose an NBA franchise at that time."

Saints owner Tom Benson has since bought the NBA club and signed a long-term lease at New Orleans Arena, ending speculation about a possible move.

Carville and Matalin also have taken part in a range of environmental, educational, economic and cultural projects in the area. Matalin is on the board of the Water Institute of the Gulf, which aims to preserve fragile coastal wetlands that have been eroding, leaving south Louisiana ecosystems and communities increasingly vulnerable to destruction. They have supported the Institute of Politics at Loyola University and the New Orleans Jazz Orchestra.

Carville teaches a current events class at Tulane University and he looks forward to getting involved in the 200th anniversary of the Battle of New Orleans in 2015 and New Orleans' tercentennial celebrations in 2018, when the city also hopes to host its next Super Bowl, if the NFL sees fit.

Leading a Super Bowl host committee, the couple said, has similarities to running a major national political campaign, but takes even more work.

"This has been going on for three years and it's huge," Matalin said. "It's bigger, it's harder, it's more complex — even though it's cheaper."

The host committee spent about $13 million in private and public funds to put on this Super Bowl, and the payoff could be enormous in terms of providing a momentum boost to the metro area's growth, Carville said.

"For us — New Orleans — I think this is going to be much more than a football game Sunday," Carville said of the championship matchup between the Baltimore Ravens and San Francisco 49ers. "We'll know how we feel about it on Monday. It's a big event, it helps a lot of people, but I think we have a chance if it goes the way we hope it does, it'll go beyond economic impact. It'll go beyond who won the game. I think there's something significant that's coming to a point here in the city."

So there's a bit of anxiety involved, to go along with the long hours. But Carville and Matalin say they've loved having a role in what they see as New Orleans' renaissance.

"I always say I'm so humbled by everyone's gratitude," Matalin said. "We get up every day and say, 'Thank you, God. Thank you, God.' It's a blessing for us to be able to be here, to live here."

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San Diego Zoo Panda Diagnosed With ‘Acute Cuteness’

Nearly three weeks after making his public debut at the San Diego Zoo, panda cub Xiao Liwu is proving to be quite the ham.

The 6-month-old cub, whose name, which means “little gift,” was chosen in an online poll, rolled, crawled and padded his way through his most recent examination, requiring “three sets of hands” to get him still, according to the zoo.

READ MORE: Panda Cub Opens Eyes at San Diego Zoo

The result? A diagnosis of “acute cuteness.”

“Animal care staff report that the cub is very strong, continues to be playful and isn’t very interested in sitting still,” the zoo said with the video of the exam posted online Wednesday.

Xiao Liwu has come a long way from his first checkup, that lasted all of three minutes, last August when he was just a 25-day old, one-pound cub. He was the sixth panda cub born at the zoo under a 12-year agreement with China that included the loan of two giant pandas.

READ MORE: Baby Panda Takes First Steps

Since then Xiao Liwu has become an online favorite thanks to the zoo’s panda cam, a live stream that has documented the cub’s nearly every movement since his birth. He made his public debut at the zoo on Jan. 10, after zookeepers determined he had developed the “bear behavior” of following his mother and being a better climber.

Now, the zoo says it has trouble keeping Xiao Liwu in bounds.

“Xiao Liwu enjoys climbing on anything he can find: logs, toys, Mom. He continues to explore his environment, perfecting his climbing skills and nibbling on bamboo sticks,” the zoo noted in a blog post this week. “After a full day out on exhibit, our biggest challenge has been getting little Xiao Liwu back into his bedroom in the afternoon.”

PHOTOS: Baby Animals

Xiao Liwu undergoes the regular exams to test his coordination, growth and development, according to the zoo. While the veterinarians keep track of his measurements and fans keep track of his cuteness, one online fan diagnosed a bigger problem.

“As far as the diagnosis, I’m wondering if perhaps the cuteness is chronic at this point,” wrote Leanne Rumsey.

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Former New York mayor Ed Koch dies at 88

Former New York Mayor, the brash and outspoken Ed Koch, has passed away at the age of 88.

NEW YORK (Reuters) - Former Mayor Edward Koch, who presided over New York City during the turbulent late 1970s and '80s and came to personify the city with his wry and outspoken style, died on Friday at the age of 88, his spokesman said.

As mayor from 1978 to 1989, the forceful, quick-witted Koch, with his trademark phrase "How'm I Doing?," was a polarizing figure and the city's constant promoter.

Koch died of congestive heart failure at about 2 a.m. at New York-Presbyterian hospital after a year of repeated hospitalizations, the spokesman for Koch said.

Koch was credited with lifting New York from crushing economic crises to a level of prosperity that was the envy of other U.S. cities. Under his leadership, the city regained its fiscal footing and undertook a building renaissance.

But his three terms in office were also marked by racial tensions, corruption among many of his political cronies, the rise in AIDS and HIV, homelessness and a high crime rate. In 1989, he lost the Democratic nomination for what would have been a record fourth term as mayor.

Mayor Michael Bloomberg said the flags at all city buildings would fly at half-staff in Koch's memory.

"In elected office and as a private citizen, he was our most tireless, fearless, and guileless civic crusader," Bloomberg said. "His spirit will live on not only here at City Hall, and not only on the bridge the bears his name, but all across the five boroughs."

Koch had a quip for every occasion and once said he wanted to be mayor for life. He was the only U.S. mayor to have a bestselling autobiography that was turned into an off-Broadway musical.

This week, "Koch," a documentary about his turbulent three terms as mayor, premiered at the Museum of Modern Art. Koch was unable to attend the premier.

"I don't think there was anybody who had more fun being mayor as Ed Koch," City Council Speaker Christine Quinn, who is in the race to be the city's next mayor, said at the premier.

"Here was a mayor who was a combination of a Lindy's waiter, a Coney Island barker, a Catskill comedian, an irritated school principal and an eccentric uncle," New York writer Pete Hamill said in a 2005 discussion of Koch's legacy. "He talked tough and the reason was, he was tough."

NEW YORK NATIVE

Born into a Jewish immigrant family in the Bronx on December 12, 1924, Edward Irving Koch went on to attend City College and later earn a law degree from New York University.

He entered politics in the 1950s in Manhattan's Greenwich Village neighborhood, winning a seat on the city council, and later went to Washington, where he served four terms in the U.S. House of Representatives.

In 1977, he made a second attempt running for mayor of New York City, and proved to be an agile campaigner. To combat rumors he was gay, former beauty queen Bess Myerson began appearing by his side at campaign events.

Koch later admitted the two were never romantically linked. Koch remained a bachelor all his life and refused to answer questions about his sexuality even in his later years.

After two successful terms in office - he was returned for a third term with 70 percent of the vote - Koch's star had began to fade. A corruption scandal involving his ally, Queens Borough President Donald Manes, never implicated Koch, but it damaged his reputation with voters.

Koch's attempt at a fourth term failed when he lost his party's nomination to Manhattan borough president David Dinkins, a man as quiet and deliberative as Koch was bold and abrasive. Dinkins would go on to be the city's first black mayor.

"People became tired of Koch's personality," said Mitchell Moss, the director of the Urban Research Center at New York University. "He was a remarkable mayor but one with a big mouth. After 12 years you have to change the lyrics."

After leaving office, Koch wrote articles on everything from Middle East politics to movie reviews, hosted a radio show and served as a judge on television's "“The People's Court."

He has remained a formidable figure in New York politics, endorsing candidates and offering political commentary on the local NY1 TV station. He has been a strong ally of New York's current mayor, Michael Bloomberg, and in 2010 he formed New York Uprising, a political action committee designed to fight corruption in state politics.

In 2008, Koch announced he had secured a plot in Manhattan's Trinity Cemetery, telling the New York Times: "The idea of leaving Manhattan permanently irritates me."

(Additional reporting by David Storey, Editing by Colleen Jenkins and W Simon)

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Mexico rescue workers search for survivors after Pemex blast kills 25

MEXICO CITY (Reuters) - Emergency services worked into the early hours of Friday to find people trapped in rubble under state oil company Pemex's headquarters in Mexico City after an explosion that killed at least 25 people and injured more than 100.

Scenes of confusion and chaos at the downtown tower dealt yet another blow to Pemex's image as Mexico's new president courts outside investment for the 75-year-old monopoly.

Search and rescue workers picked through debris, and investigators sifted through shattered glass and concrete at the bottom of the building to try to find what caused the blast. It was not clear how many might still be trapped inside.

Pemex, a symbol of Mexican self-sufficiency as well as a byword in Mexico for security glitches, oil theft and frequent accidents, has been hamstrung by inefficiency, union corruption and a series of safety failures costing hundreds of lives.

Thursday's blast at the more than 50-storey skyscraper that houses administrative offices followed a September fire at a Pemex gas facility near the northern city of Reynosa which killed 30 people. More than 300 were killed when a Pemex natural gas plant on the outskirts of Mexico City blew up in 1984.

Eight years later, about 200 people were killed and 1,500 injured after a series of underground gas explosions in Guadalajara, Mexico's second biggest city. An official investigation found Pemex was partly to blame.

Pemex initially flagged Thursday's incident as a problem with its electricity supply and then said there had been an explosion. But it did not give a cause for the blast.

A government official, speaking on condition of anonymity, said a preliminary line of inquiry suggested a gas boiler had blown up in a Pemex building just to the side of the main tower. However, he stressed nothing had been determined for sure.

Others at the scene said gas may have caused the blast.

Not long after the blast, President Enrique Pena Nieto was at the scene, vowing to discover how it happened.

"We will work exhaustively to investigate exactly what took place, and if there are people responsible, to apply the force of the law on them," he told reporters before going to visit survivors in hospital.

Shortly after midnight, at least 46 victims were still being treated in hospital, the company said.

Pemex said the blast would not affect operations, but concern in the government was evident as top military officials, the attorney general and the energy minister joined Interior Minister Miguel Angel Osorio Chong for a late news conference.

"I have issued instructions to the relevant authorities to convene national and international experts to help in the investigations," Osorio Chong said. He later noted that the number of casualties could still climb.

Whatever caused it, the deaths and destruction will put the spotlight back on safety at Pemex, which only a couple of hours before the explosion had issued a statement on Twitter saying the company had managed to improve its record on accidents.

Nieto has said he is giving top priority to reforming the company this year, though he has yet to reveal details of the plan, which already faces opposition from the left.

Both Pena Nieto and his finance minister were this week at pains to stress the company will not be privatized.

(Editing by Louise Ireland)

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Stock futures edge lower ahead of data, earnings

NEW YORK (Reuters) - Stock index futures edged lower on Thursday ahead of data on the labor market and a slew of corporate earnings reports.

Facebook Inc shares dropped 6.7 percent to $29.14 in premarket trading. The company doubled its mobile advertising revenue in the fourth quarter but that growth trailed some of Wall Street's most aggressive estimates.

Qualcomm Inc gained 6 percent to $67.35 in premarket trading after the world's leading supplier of chips for cellphones beat analysts' expectations for quarterly profit and revenue and raised its financial targets for 2013.

Investors will look to weekly initial jobless claims data at 8:30 a.m. ET (1330 GMT) for clues on the health of the labor market ahead of the payrolls report on Friday. Economists in a Reuters survey forecast a total of 350,000 new filings compared with 330,000 in the prior week.

Also at 8:30 a.m. (1330 GMT), the Commerce Department will release December personal income and spending data; economists expect a 0.8 percent rise in income and a 0.3 percent increase in spending.

ConocoPhillips reported a drop in quarterly profit as oil and gas prices weakened and output from the third-largest U.S. oil and gas producer remained steady compared with a year ago, though it anticipated a decline in the first quarter.

Later in the session at 9:45 a.m. (1445 GMT), the Institute for Supply Management Chicago releases January index of manufacturing activity. Economists in a Reuters survey forecast a reading of 50.5 compared with 50.0 in December.

S&P 500 futures fell 1.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 5 points, and Nasdaq 100 futures lost 9.75 points.

The S&P 500 <.spx> is up 5.3 percent for the month, as legislators in Washington temporarily sidestepped a "fiscal cliff" of automatic tax increases and spending cuts that could have derailed the economic recovery, and amid improving economic data and better-than-expected corporate earnings.

But the benchmark index has stalled recently, hovering near the 1,500 mark over the past four sessions as investors look for more catalysts to justify further gains.

Thomson Reuters data through Wednesday morning shows that of the 192 companies in the S&P 500 that have reported earnings this season, 68.8 percent have exceeded expectations, a higher proportion than over the past four quarters and above the average since 1994.

Overall, S&P 500 fourth-quarter earnings are forecast to have risen 3.8 percent. That's above the 1.9 percent forecast from the start of the earnings season, but well below a 9.9 percent fourth-quarter earnings growth forecast on October 1, the data showed.

European shares fell as investors digested mixed earnings reports, with a warning from AstraZeneca knocking its shares while Ericsson surged after fourth-quarter results. <.eu/>

Asian shares fell slightly after rallying to multi-month highs, and more for some Southeast Asian markets, while the U.S. Federal Reserve's pledge to retain its stimulus policy undermined the dollar.

(Editing by Bernadette Baum)

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2 NFL seasons since agreement, still no HGH tests

NEW ORLEANS (AP) — Count Baltimore Ravens defensive end Arthur Jones among those NFL players who want the league and the union to finally agree on a way to do blood testing for human growth hormone.

"I hope guys wouldn't be cheating. That's why you do all this extra work and extra training. Unfortunately, there are probably a few guys, a handful maybe, that are on it. It's unfortunate. It takes away from the sport," Jones said.

"It would be fair to do blood testing," Jones added. "Hopefully they figure it out."

When Jones and the Ravens face the San Francisco 49ers in the Super Bowl on Sunday, two complete seasons will have come and gone without a single HGH test being administered, even though the league and the NFL Players Association paved the way for it in the 10-year collective bargaining agreement they signed in August 2011.

Since then, the sides have haggled over various elements, primarily the union's insistence that it needs more information about the validity of a test that is used by Olympic sports and Major League Baseball. HGH is a banned performance-enhancing drug that is hard to detect and has been linked to health problems such as diabetes, cardiac dysfunction and arthritis.

"If there are guys using (HGH), there definitely needs to be action taken against it, and it needs to be out of (the sport)," Ravens backup quarterback Tyrod Taylor said. "I'm pretty sure it'll happen eventually."

At least two members of Congress want to make it happen sooner, rather than later.

House Oversight and Government Reform Committee chairman Darrell Issa, a California Republican, and ranking Democrat Elijah Cummings of Maryland wrote NFLPA head DeMaurice Smith this week to chastise the union for standing in the way of HGH testing and to warn that they might ask players to testify on Capitol Hill.

Smith is scheduled to hold his annual pre-Super Bowl news conference Thursday.

"We have cooperated and been helpful to the committee on all of their requests," NFLPA spokesman George Atallah said. "If this is something they feel strongly about, we will be happy to help them facilitate it."

Several players from the Super Bowl teams said they would be willing to talk to Congress about the issue, if asked.

"I have nothing to hide. I can't speak for anyone else in football, but I would have no problem going," said Kenny Wiggins, a 6-foot-6, 314-pound offensive lineman on San Francisco's practice squad.

But Wiggins added: "There's a lot more problems in the U.S. they should be worried about than HGH in the NFL."

That sentiment was echoed by former New York Giants offensive lineman Shaun O'Hara, who now works for the NFL Network.

"Do I think there is an HGH problem in the NFL? I don't think there is. Are there guys who are using it? I'm sure there are. But is it something Congress needs to worry about? No. We have enough educated people on both sides that can fully handle this. And if they can't, then they should be fired," said O'Hara, an NFLPA representative as a player. "I include the union in that, and I include the NFL. There is no reason we would need someone to help us facilitate this process."

Issa and Cummings apparently disagree.

In December, their committee held a hearing at which medical experts testified that the current HGH test is reliable and that the union's request for a new study is unnecessary. Neither the league nor union was invited to participate in that hearing; at the time, Issa and Cummings said they expected additional hearings.

"We are disappointed with the NFLPA's remarkable recalcitrance, which has prevented meaningful progress on this issue," they wrote in their recent letter to Smith. "We intend to take a more active role to determine whether the position you have taken — that HGH is not a serious concern and that the test for HGH is unreliable — is consistent with the beliefs of rank and file NFL players."

Atallah questioned that premise.

"To us, there is no distinction between players and the union. ... The reason we had HGH in our CBA is precisely because our players wanted us to start testing for it," Atallah said. "We are not being recalcitrant for recalcitrance sake. We are merely following the direction of our player leadership."

Wiggins and other players said no one can know for sure how much HGH use there is in the league until there is testing — but that it's important for the union's concerns about the test to be answered.

"The union decides what is best for the players," said Ravens nose tackle Ma'ake Kemoeatu, who said he would be willing to go to Capitol Hill.

"I feel like some guys are on HGH," said 49ers offensive lineman Anthony Davis, who would rather not speak to Congress. "I personally don't care if there is testing. It's something they have to live with, knowing they cheated, and if they get (outplayed) while they're on it, it's a hit on their pride."

___

Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich

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Factbox: Weapons, nuclear power, roads and welfare: India’s budget cuts

NEW DELHI (Reuters) – India’s finance minister P. Chidambaram is putting welfare, defence, atomic energy and road projects under the knife in a final attempt to hit a tough fiscal deficit target by March, risking short-term economic growth and angering cabinet colleagues.

The cuts will reduce spending by about 1.1 trillion Indian rupees ($ 20.6 billion) in the current financial year, some 8 percent of budgeted outlay, or roughly 1 percent of estimated gross domestic product, two senior finance ministry officials and a senior government adviser told Reuters.

Here are some of the details of the cuts so far and where the axe is falling:

* The defence ministry — the world’s biggest arms importer in recent years — faces a cut of $ 1.9 billion for weapons purchases, which a senior official said could delay deals to buy howitzer guns and Javelin anti-tank missiles from the United States by at least few months.

* The rural development ministry, which runs a flagship rural employment scheme that is seen as a major vote winner, could have up to $ 4 billion slashed from its budget, a senior official at the ministry said.

* Government data for the April-November period, for which spending numbers are available, show a fall in disbursements to ministries — and purse strings are tightening further in the traditionally high-spending last quarter of the fiscal year. A senior finance ministry official said ministries will not get more than a third of their allocated funds in the quarter to March.

* The atomic energy department was allocated only 13 billion rupees ($ 243.47 million) by November-end, out of 56 billion rupees ($ 1.05 billion) approved in the budget for the whole year, a finance ministry official said.

* Just 35.7 billion rupees ($ 668.60 million) were released to the ministry of communications and information technology in the same period out of 86 billion rupees ($ 1.61 billion) budgeted for the whole year, the official said.

* Overall in the April-November period, spending on more than 100 capital investment program stood at 2.43 trillion rupees ($ 45.51 billion), 47 percent of the target of 5.21 trillion rupees ($ 97.57 billion) for the whole fiscal year, compared with 50 percent a year earlier.

* The roads ministry has so far awarded contracts for just 1,000 km (620 miles) of roads against a target of 9,000 km this fiscal year, partly due to budget constraints and the deteriorating economy, an official at the ministry said. The ministry has been told to look for funds from the National Highway Authority, partly funded by market borrowing.

* One reason the cuts are needed is a rising subsidy bill. The finance ministry expects the burden for providing cheaper fuel to jump by nearly 500 billion Indian rupees ($ 9.36 billion) this year, above earlier estimates of 430 billion rupees ($ 8.05 billion).

* Another factor is low revenue collection – in the first eight months, collections were 47.6 percent of the annual target compared with 49.7 percent during the same period a year earlier, at a time Chidambaram is trying to substantially lower the deficit from last year’s 5.8 percent of GDP.

($ 1 = 53.3950 Indian rupees)

(Reporting By Frank Jack Daniel; Editing by Alex Richardson)

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BlackBerry must remember strengths

STORY HIGHLIGHTS

• BlackBerry sales have slumped in the U.S. but is still strong in emerging markets


• New models launched should remember why they are popular in developing world


• In places like Brazil and South Africa, the 10 is the update to their current phone


• in Sub-Saharan Africa there is expected to be 175 million new customers in the next 3 years

Watch Jim Clancy on CNN International's "The Brief" at 4p.m. ET GMT Friday.

(CNN) -- BlackBerry's loss of market share in the U.S. is the stuff of legends. Last fall, it was estimated only about 2% of American phone users were still carrying their BlackBerry mobile with its iconic keypad.

But consider this: sub-Saharan Africa is expected to add 175 million new mobile users in just the coming 3 years. That's according to the GSMA, which represents the world's mobile operators.

"Mobile has already revolutionized African society and yet demand still continues to grow by almost 50 percent a year," said Tom Phillips, Chief Government and Regulatory Affairs Officer, GSMA.

That could be good news indeed for BlackBerry. Research in Motion, the maker of BlackBerry, estimates it holds a 70% market share in countries like South Africa.

The company's new phones, announced this week, are not the ones some of its best customers in emerging markets would like to buy. They're too expensive. But Research in Motion -- which also this week changed its company name to BlackBerry -- is pledging some of its six new models will address that.

While millions in China, Europe and the U.S. have adopted Android or iOS smartphones with a vengeance, millions more users in emerging markets are enthused about what's in store for the new BlackBerry 10. It's the update for what many of them are already using.

They live in countries like Brazil, Malaysia, Nigeria, Kenya and South Africa. They have embraced the BlackBerry for a combination of factors that all point to the different way mobile devices are used.

Unlike their counterparts in Europe and America, the mobile in their pocket is more likely to be their primary link to the internet.

BlackBerry Messenger is the connection that allows these users unlimited conversations without paying charges for SMS data. While young, brand-conscious Chinese may be willing to part with several months' salary to buy the latest iPhone, African users are looking for more practical (and cheaper) connections.

What separates developed countries from their developing counterparts at street level can be summed up in a single word: infrastructure.

Isobel Coleman, senior fellow and Director of the Civil Society, Markets and Democracy Initiative at the Council on Foreign Relations, says mobile technology has proved it can bridge the gap where infrastructure is lacking.

"It's a culture, it's an economy, it's innovation, education, healthcare, it's all of these things," says Coleman.

You can take that to the bank. For many Africans, their cell phone account is the first bank account they've ever owned.

In emerging markets, mobile phone banking is growing because of the lack of infrastructure. Fewer bank branches often mean long distances to travel and long lines once you've arrived.

Africans are expected to transfer more than $200 billion per year or 18% of the continent's GDP by 2015.

Oh, and that keyboard. No matter where you are in the world, there will always be a demand for a keyboard that clicks. The company appears to understand that as BlackBerry 10 models come with both soft keypads and the traditional BlackBerry buttons.

I asked some of my Twitter followers to weigh in on the BlackBerry 10 roll out. While some said Android or Apple's iOS were in their future plans, many others expressed continued enthusiasm for the BlackBerry.

Soji, a pianist and teacher in Nigeria tweeted back "I'm falling in love with this BB. Cheaper to own."

From Kuala Lumpur, Amir wrote "I need a physical keyboard to type while also having a touch-screen for photos etc. Security factor also important."

Hans-Eric from South Africa reinforced the sentiments of many mobile users in emerging markets: "The cost of data is simply too high without it (BlackBerry.)"

The voices from emerging markets couldn't have been clearer. What they expect from BlackBerry 10 is a stronger, longer lasting battery, durability and continued low cost connectivity.

CFR's Coleman agrees that BlackBerry (and anyone else) trying to win and hold this mobile device sector has to understand how these devices are being used and give the customers what they want.

"Cheap. Rugged. Not too many bells and whistles. Practical."

There is little doubt smartphones are changing the way people use the internet, how they bank, shop and interact socially.

But it's worth keeping in perspective that in a world where there are now an estimated 1 billion smartphones, there are 5 billion feature phone users. That's a lot of upside growth potential for BlackBerry and all the other players out there.

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6 wounded in overnight shootings

Two men were shot in the South Austin neighborhood on the West Side late Wednesday, police said, and four others were wounded across the city.

The 19-year-old and 37-year-old in Austin were in a car in the 5000 block of West Madison Street when someone approached on foot and started shooting, Chicago Police News Affairs Officer Hector Alfaro said.

The pair drove to a “residence” in the 1500 block of North Long Avenue and police were called, Alfaro said. The older man was taken to John H. Stroger Jr. Hospital of Cook County with multiple gunshot wounds and the younger man, shot in the leg, was taken to Loyola University Medical Center.

Nobody is in custody and Area North detectives are investigating.

Also on the West Side, a man in his 30s was shot and found in the 1200 block of South Racine Avenue, outside the Alba-Roberts Brooks Homes housing complex in the University Village / Little Italy neighborhood. It's not clear if he was shot there - police responded to a single call of a person shot and found the man shot in the leg about 2:45 a.m. 

On the Northwest Side about 10:45 p.m., a 56-year-old man was shot in the head in what police first believed to be an attempted suicide. He was shot in the 1800 block of North Natchez Avenue in the Galewood neighborhood, police said. Detectives later determined that someone had shot the man, Chicago Police News Affairs Officer Amina Greer said. He's at Loyola hospital, Greer said. 

A 23-year-old man was shot in the leg and groin in the 3400 block of West Walnut Street just before 8 p.m. in the East Garfield Park neighborhood. He was on a porch when three men, one with a gun, approached and told him and one other person not to move. 

They moved, and one of the three shot the 23-year-old, police said. He was taken to Mount Sinai Hospital and he’s in good condition.

About an hour later, a 43-year-old man was shot by another person inside a silver car in the 8500 block of South Hermitage Avenue in the Gresham neighborhood. He’s in stable condition at Little Company of Mary Hospital.

pnickeas@tribune.comTwitter: @peternickeas 

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