Steve Cohen, aka the Millionaires' Magician, has made a killing doing parlor magic for the wealthy — revealing the dreams and aspirations of those who already have everything.
By now, the tagline "free until you get a job" has burrowed deep into not only the subconscious of Silicon Valley investors, but basically anyone who has Googled "how to learn programming" in the past three years. But it's also, largely, an untested model.
One day (and probably sooner than you think) that video game being played by the cool character on your favorite sitcom, or the giant billboard leaped by a motorbike-driving Tom Cruise in his latest action spy thriller, won't be the same one seen by everyone else who watches it.
There is a feel at the Dutch Open akin to the World Series of Poker—the hope, the collective desire, is that a complete unknown will make a madman-run to glory. In truth, all these pub-champs will be felled by the field's undeniable killers: England's Deta Hedman and Japan's Mikuru "The Miracle" Suzuki.
Uber drivers in Europe and the US are fighting for access to their personal data. Whoever wins the lawsuit could get to reframe the terms of the gig economy.
CommonBond can help simplify your student loans — so you can save money every month or pay off your student debt more quickly. See your new rate estimate and payment options in less than 2 minutes.
Liza Mandelup's new documentary, "Jawline," follows 16-year-old Austyn as he tries to carve out a career as an influencer and escape his hometown of Kingsport, Tennessee.
Saudi-led coalition says intercepts six missiles fired by Houthi rebels at civilian targets in Saudi Arabia.
Houthi rebels have fired several ballistic missiles at an airport in southwest Saudi Arabia, the group has said in statement.
The rebels fired 10 Badr-1 ballistic missiles at Jizan airport, killing and wounding dozens, the group's military spokesperson said in a statement on Sunday.
#UPDATE Asian equity markets tank and the yuan hits an 11-year low after Donald Trump ramps up his trade war with China by imposing more tariffs on more than half-a-trillion dollars worth of imports https://t.co/0sIzv9bzpnpic.twitter.com/VJzBjtcSoM
Amid growing international alarm over fires in Brazil's Amazon region, neighboring Bolivia is facing devastating fires of its own, with flames devouring farmland and environmentally sensitive forests alike https://t.co/yYFRahyTTx
* In early August, a mysterious nuclear explosion killed at least seven people at a Russian military site. * Less than two weeks later, the US began testing a cruise missile, stoking fears that the two nations could be headed toward another nuclear arms race. * In the event of a nuclear explosion on American soil, the US government offers some guidelines for how to seek shelter. * US government agencies have also warned against certain practices, like eating food that's been left outside or using conditioner in your hair.
A mysterious explosion that killed at least seven people at a Russian military site has reignited concerns about the threat of nuclear warfare.
US officials believe the explosion could be the result of a failed test of a nuclear missile Russia is developing called "Skyfall."
Shortly after the explosion, authorities in the city of Severodvinsk reported a brief spike in the area's radiation levels. Residents of a nearby town were also told to evacuate, but the orders were soon cancelled.
French soldiers of the 2nd Foreign Engineer Regiment inspect the perimeter of a touareg home in the Gourma region during the Operation Barkhane in Ndaki, Mali, July 29. REUTERS/Benoit Tessier
The Royal Navy's Type 45 Daring-class air-defence destroyer Defender practices underway security with the Cunard Liner Queen Mary 2 in the Gulf of Oman on April 17, 2016. (Photo courtesy of Royal Navy)
* The UK-flagged vessel Stena Impero and her 23 crew was captured last month by Iranian commandos * Ministry of Defence confirmed HMS Defender has been ordered to the region * HMS Duncan, HMS Kent and HMS Montrose have already been deployed
Britain is to send a fourth Royal Navy warship to patrol the Persian Gulf following the capture of the UK-flagged vessel Stena Impero and her 23 crew last month by Iranian commandos.
The Ministry of Defence confirmed last night that destroyer HMS Defender has been ordered to the region following the deployment of HMS Duncan, HMS Kent and HMS Montrose.
The Portsmouth-based Type 45 destroyer Defender will protect UK ships amid heightened tensions in the Strait of Hormuz.
Several photos of China's Type 075 amphibious assault ship (roughly analogous to the USN's LHDs) undergoing construction have surfaced online recently. Bridge structure installed on main hull. Launch expected later this year pic.twitter.com/HEAjzWUAqp
The vessels will give China a high-end amphibious assault capability that can be used both regionally and far from home.
The development and fielding of China's fixed-wing aircraft carriers grab all the headlines, but another class of ship that is currently under construction also deserves international attention. The Type 075 landing helicopter dock (LHD) will be the People's Liberation Army Navy's (PLAN) most powerful amphibious assault ship and will usher in a new era of capabilities for the PLAN. As you can see by the images in this article, this ship is remarkably large. Some think it will displace around 40,000 tons, nearly equaling the displacement of America's own Wasp-class LHD, while others put it a bit lower, between 30,000 and 35,000 tons. Either way, this is an impressive warship that outsizes the vast majority of its international counterparts. These ships—three of which are on order—will become the centerpiece of China's increasingly concerning amphibious force.
We now know that Sukhoi intends to make its unmanned combat air vehicle very stealthy, which will help overcome some of the Su-57's shortcomings.
The existence of Sukhoi's S-70 Hunter-B (Okhotnik-B) unmanned combat air vehicle (UCAV) is among the biggest military aerospace developments to come out of Russia this decade. The aircraft initially appeared in a flyable form back in January, with its first flight occurring in early August. One of the biggest questions surrounding the large flying-wing drone is just how stealthy will it actually become. As it sits now, it has major design issues that preclude it from offering all-aspect low-observability. You can read our full analysis on this topic here. But pictures The War Zone has obtained from the Sukhoi pavilion at Russia's biennial MAKS air show and weapons expo on the outskirts of Moscow show us what the company envisions the Hunter to finally look like once it fully matures.
US must unite at home before it can realistically face up to Beijing
Democrats have been battling President Donald Trump on almost every major policy issue ever since the former real estate magnate entered the White House. But on China, arguably America's most consequential foreign policy challenge, Democrats have been strangely cheering their political nemesis from the sidelines.
They have not only embraced Trump's hard line on trade with China, but also appear oblivious to the consequences of the Trump administration's policy of waging a long-term, full-spectrum strategic confrontation with Beijing.
When it comes to China, Democrats have been outmaneuvered by Trump. Beijing is deeply unpopular with the American public. The most recent Pew Research survey reveals that 60% view China unfavorably and 53% think bilateral economic ties are a "bad thing." Only 41% think such ties are a "good thing."
Given the raging trade war, China's aggressive actions in the South China Sea and egregious violations of human rights, it would be political suicide to counsel caution, let alone take a softer line, on Beijing.
WNU editor: From President Obama's Asian pivot to today's embrace of President Trump's China strategy, the Democrats have dramatically shifted their viewpoints on this issue. But in all fairness this shift has occurred not because of U.S. politics and Trump, but because of Chinese behaviour and aggression. China wants to rewrite the territorial map of Asia to its favour, and it is using its military to enforce its claims. Coupled with its appalling human rights record, China's friends in the West are disappearing. In this context the Democrats will not differ much from President Trump, and in some cases I will not be surprised if they will start to voice for a more harsher response.
Japan just agreed to buy all our surplus corn. This is its way of backing us in our trade war with Red China.
TeleTrader reported, "The United States and Japan have agreed a tentative trade deal, President Donald Trump said on Sunday.
"Japan will buy excess US corn under the terms of the deal, according to Trump. However, Prime Minister Shinzo Abe said that some work on the agreement's wording and context still had to be done. Media reported that it could be signed at the United Nations General Assembly to be held next month."
Abe is a U.S. ally but he also is has diplomatic relations with Red China and Iran. He is one of the best players on the world stage.
He is backing the United States in general and President Donald John Trump in particular. Replacing Red China, in part, takes the farmers off President Trump's back with a re-election fight looming next year.
WNU Editor: I am sure this deal was made before this weekends G7 summit and the imposition of more Chinese tariffs. I also believe Japan is also not the only country that wants the U.S. to succeed against China. But being the world's third largest economy it has a lot of clout, and they have just helped President Trump with the farm vote in 2020.
* President Donald Trump said Sunday he could declare the escalating U.S.-China trade war as a national emergency if he wanted to. * "In many ways this is an emergency," Trump said of the ongoing trade battle between the world's top two economies. * Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.
SAINT-JEAN-DE-LUZ, France — President Donald Trump said Sunday he could declare the escalating U.S.-China trade war as a national emergency if he wanted to.
"In many ways this is an emergency," Trump said at the G-7 leaders meeting of the ongoing trade battle between the world's top two economies.
"I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year and when we have a total lost of almost a trillion dollars a year for many years," Trump said, adding that he had no plan right now to call for a national emergency.
WNU Editor: The U.S. Presidency has a lot of power when it comes to disputes like the current trade war. And yes .... President Trump can declare a national emergency. Here is a list of national emergencies that past US Presidents have imposed .... List of national emergencies in the United States (Wikipedia).
There was a distinct sense of foreboding that the Hong Kong situation is about to take a far worse turn for the worse during this weekend protest, the 12th in a row, which saw the HK police deploy water cannon on protesters, while three police officers who were allegedly chased and beaten by a mob of club-wielding protesters, pulled their revolvers, with one firing at least one warning shot toward the sky.
WNU Editor: Beijing lost patience with the protests in Hong Kong a long time ago. The problem right now is that the cost to China of intervening in Hong Kong would be enormous, both politically and economically. And it is a cost that they are not ready to accept right now. But if the protests become more violent in the coming weeks, and the Hong Kong government and police appear to be losing control, there will be an intervention, and that decision will be done immediately.
* There are an estimated 13,885 nuclear weapons in the world, either stockpiled or retired. * Last year, there were 14,465 weapons, but some 600 were retired or decommissioned in the last 12 months. * It shows that total elimination is still a long-term goal, despite international efforts to rid the world of nukes. * Scroll down for an overview of the world's nine nuclear-armed states, the number of weapons they have, and the 31 countries they've vowed to protect.
The number of nuclear weapons known to exist around the world today is steadily falling, but the fear that a country could one day unleash the most devastating weapon on Earth still persists.
The total number of nuclear weapons fell from 14,465 in 2018 to about 13,885 this year, according to Stockholm International Peace Research Institute's (SIPRI) 2019 yearbook, which was published in June.
It shows that while the international community is working toward the goal of reducing the number of nukes in the world, total elimination is still a long-term reality.
U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo/File Photo
America has the upper hand in the ongoing trade negotiations with China, and the temporary reprieve that President Trump recently gave the Chinese regime is only further proof that our strong economy grants us a degree of flexibility that Beijing can't hope to match.
There are a lot of misconceptions about the president's announcement that he is postponing certain tariff increases on China.
It's true that this temporary delay addresses the one area where short-term access to cheap consumer goods has the potential to noticeably impact U.S. consumers: Christmas gifts. Overall, consumer goods are not rapidly inflating in price, and the postponement will ensure that nothing of the sort takes place during the busiest shopping season of the year.
WNU Editor: President Trump may be playing a long game with China (and one that I agree with), but China is playing the short game. Principally, ensuring the defeat of President Trump at the polls in 2020.
The federal government's new focus on preventing disaster in a natural or terrorist electromagnetic pulse attack is drawing attention to a lack of testing and preparation at the nation's nuclear power plants, where a resulting meltdown could cause radiation deaths.
ucked into the back of a new report from the Electromagnetic Defense Task Force compiled to highlight the EMP threat to U.S. infrastructure and military installations, the nation's nuclear regulators admitted that the electric generating plants are not prepared for an attack.
What's more, they don't know how deadly an attack would be or how far the radioactive "plume" from a meltdown would extend and suggested instead that deaths would first come from an inability to find food and clean water.
WNU Editor: I do not think any nuclear plant in the world is prepared for an emp attack. If the equipment that you use to cool your nuclear reactor core is disrupted because of an emp event, there will be a very real possibility of a meltdown. And why focus on a man made emp attacks. The sun has a history of ejecting solar flares that can disrupt electronics. What happens if there is a massive flare that is the equivalent of an emp attack. The report is here.
I've recently succumbed to an infatuation, much like a grade-school crush. Mind you, what is appealing at my current age is markedly different than what was back then; having traversed a generation's worth of the realities of adulthood, and with the prospect of hoping to retire someday, the subject matter of my admiration has shifted. Monumentally.
Sadly, and weirdly, my current crush is on a company, or more specifically their stock: Brookfield Infrastructure Partners. This is disturbing in more than one way. Normally, my public admiration of a company's stock has the effect of destroying the business as surely as if I used dynamite, however it is reasonably probable that BIP will survive even my proven ability to lethally infect that which I invest in. Furthermore, to admit that one is smitten with a business could be a sign of some sort of looming mental issue, and it might be, but check out their dividend growth history for yourself before calling me nuts.
WNU Editor: To build an infrastructure. Any infrastructure. Requires an enormous amount of energy. Bottom line. Demand for fossil fuels are going to be with us for a very long time.
BIARRITZ, France (Reuters) - French President Emmanuel Macron said on Sunday the leaders of the world's major industrialized nations were close to an agreement on how to help fight the Amazon forest fires and try to repair the devastation.
"There's a real convergence to say: 'let's all agree to help those countries hit by these fires'," he told reporters in Biarritz, which is hosting the annual summit of leaders from the Group of Seven nations.
He said the G7 countries comprising the United States, Japan, Germany, France, Italy, Britain and Canada, were finalizing a possible deal on "technical and financial help".
Macron shunted the Amazon fires to the top of the summit agenda after declaring them a global emergency, and kicked off discussions about the disaster at a welcome dinner for fellow leaders on Saturday.
An EU official, who declined to be named, said the G7 leaders had agreed to do everything they could to help tackle the fires, giving Macron a mandate to contact all the countries in the Amazon region to see what was needed.
"It was the easiest part of the talks," the official said.
WNU Editor: For the past week I have been reading non-stop news reports the current fires in the Amazon regions are unprecedented. Bu now we are learning from scinetists that these fires are actually nothing new ....
Scientists studying satellite images of the fires in the Amazon rain forest said most of the fires are burning on agricultural land where the forest had already been cleared through years of deforestation. https://t.co/Az7WWiCVtr
#AmazonFire#AmazonRainForest According to NASA: "As of August 16, 2019, satellite observations indicated that total fire activity in the Amazon basin was slightly below average in comparison to the past 15 years." https://t.co/okf6BmC8qU
While Trump sought to play up unity between the leaders at the G-7 summit, some cracks emerged Sunday.
BIARRITZ, France — President Donald Trump appeared to strike a softer tone after landing here this weekend, hailing the "really great" summit with world leaders and appearing to admit regrets about his latest round of tariffs on Chinese goods.
But the White House quickly pushed back on any suggestion that Trump's resolve for a trade war was fading.
Speaking to reporters during a breakfast meeting with British Prime Minister Boris Johnson, Trump was asked if he had had second thoughts on Friday's escalation with China.
"Yeah, sure. Why not?" he responded. Asked again, he said: "Might as well. Might as well."
WNU Editor: President Trump's view on the trade war and using tariffs as a weapon to get a trade deal have been consistent since day one of his Presidency. If he has second thoughts, it is more on is strategy to get to his goal.
NEW: In an unexpected announcement at the G-7, President Trump and Japanese Prime Minister Shinzo Abe said they have agreed in principle to a trade deal following months of negotiations.
Trump and Abe announced the agreement at the G-7 summit in France, with hopes for a formal signing in September alongside U.N. General Assembly meetings.
BIARRITZ, France — President Donald Trump said Sunday that a trade deal with Japan "is done in principle."
"We have been working on a deal with Japan for a long time," he said at the G-7 summit alongside Japanese Prime Minister Shinzo Abe and teams from both countries. "It involves agriculture and it involves e-commerce and many other things. It's a very big transaction, and we've agreed in principle."
Both Trump and Abe said they expect to sign the deal around meetings of the United Nations General Assembly next month in New York. They asked aides to accelerate negotiations over unfinished aspects of the trade deal in order to have a final agreement prepared in time.
"We've agreed to every point and now we're papering it and we'll be signing it at a formal ceremony," Trump said.
When Iran's Foreign Minister, Javad Zarif, landed in Biarritz Sunday afternoon it appeared France's Emmanuel Macron, this year's G7 host, had pulled off an end run around his most powerful guest, US President Donald Trump.
For weeks Macron has been pushing Trump to soften his stance on Iran, and Trump has pushed back, last month tweeting: "I know Emmanuel means well, as do all others, but nobody speaks for the United States but the United States itself."
In May last year Trump unilaterally pulled the USA out of the multilateral Joint Comprehensive Plan of Action nuclear deal with Iran, and this year ratcheted up sanctions on the Middle East nation to create "maximum pressure" to have it dial back its "destabilizing" regional activities.
WNU Editor: The French President initially said there is a "G7 mandate on Iran", but is now backtracking these remarks .... Macron backtracks on 'G7 mandate for Iran' after Trump denial (France 24). More here .... France's Macron says no formal mandate from G7 on Iran (Reuters). From stating that Brazil's trade deal with the EU was at risk over fires in the Amazon, and now this Iran play, French President Macron is pursuing initiatives that does not have the support of the other G7 members.
* While mainland China does not currently supply the Hong Kong police force, analysts expect growing civil unrest and higher military spending to boost domestic and export markets * Chinese-made tear gas has been used against protesters around the globe, including anti-government protests in Sudan and Venezuela
China is expected to increase its production of tear gas and other crowd control weapons because of higher demand from domestic law enforcement and from abroad, according to manufacturers and market researchers.
Although Hong Kong – where tear gas has been extensively by police during the ongoing anti-government protests – relies on foreign suppliers, mainland China produces its own supplies along with other so-called "non-lethal" weapons such as acoustic and electromagnetic equipment.
These items have been used to equip both China's own military and riot police and have also been exported around the globe.
Hong Kong (CNN)A Hong Kong police officer fired a live shot into the air after protesters squared off against police armed with water cannons on Sunday night, marking one of the most violent nights of pro-democracy protests seen over the 12 weekends of consecutive protests that have rocked the city.
Four police officers were filmed drawing their guns after demonstrators were seen chasing them with metal pipes, according to CNN affiliate iCable.
The iCable footage shows the policemen drawing their guns and pointing them towards people ahead. It is unclear whether the targeted people were protesters or members of the press.
Environment Protection Minister Elkin says Tehran is building an 'empire' across the Middle East aimed at destroying Israel; Foreign Minister Katz says Iran has 'no immunity'.
Members of Israel's top-level security cabinet warned Sunday morning that Iran should not feel safe "anywhere" after Israel took responsibility for an airstrike in Syria it said thwarted an Iranian plan to attack the Jewish state with explosive drones.
"We are taking responsibility for the attack in Syria and are saying that Iran should feel it is not safe anywhere," Environmental Protection Minister Ze'ev Elkin told Channel 13 TV news.
Iranian Revolutionary Guard Commander Qassem Soleimani (left) stands on the frontlines during an offensive operation against Islamic State in the town of Tal Ksaiba, in Iraq, in 2015. (photo credit: STRINGER/ REUTERS)
Army says Tehran sent kamikaze UAVs and military advisers to Syria to attack Israel; Iranian combatant, Hezbollah fighters among 5 dead in Israeli strike.
The Israel Defense Forces on Sunday said the attack drones that Iran intended to use against the Jewish state on Saturday night were flown into Syria from Tehran several weeks ago, along with Iranian military officials to act as advisers.
The plan was personally overseen by Iran's Islamic Revolutionary Guard Corps' Quds Force commander Qassem Soleimani, the IDF chief of staff said.
Explosions heard in Dahiyeh neighborhood hours after Israel strikes Iranian drone plot in Syria
BEIRUT — An official with Lebanon's Hezbollah terror group said Sunday that an Israeli drone went down over the Lebanese capital of Beirut and another exploded in the air, amid regional tensions between Israel and Iran.
The official said one drone fell and another one exploded near the ground, causing a fire in the Hezbollah stronghold of Dahiyeh.
Lebanese Hezbollah group, in a southern suburb of Beirut, Lebanon, Sunday, August 25, 2019. (AP/Bilal Hussein)
Iran's Press TV quoted a Hezbollah official saying the two drones had been downed by the group.
FRENCH President Emmanuel Macron's decision to invite Iran's Foreign Minister, Mohammad Javad Zarif, to the G7 summit in Biarritz without informing Donald Trump was "manipulative" and shows "complete disrespect" to the US President, former US ambassador to the UN Nikki Haley has said.
IRAN wants to export a minimum of 700,000 barrels per day of its oil and ideally up to 1.5 million if the West wants to negotiate with Tehran to save the 2015 nuclear deal.
MH370 airline Malaysia Airlines has received £58million of funding from the Malaysian government in a move to save the airline after the tragic disappearance of flight 370.
IRAN has sparked tensions with the US once again after accusing a Washington-based think tank of "economic terrorism" after it led criticism of the 2015 nuclear deal.
Banksy’s mural depicting a worker chipping away at a star on the flag of the European Union has disappeared from the side of a building in a coastal English town, CNN reports.
The artwork, symbolizing the U.K.’s impending exit from the E.U., had become a tourist landmark in the southeastern port city of Dover, which connects the U.K. with mainland Europe. The mural was painted in May 2017, a month before a general election at which Brexit-related discussions took center stage.
According to a resident, a scaffolding platform was pitched next to the building Saturday and the mural was gone the next day.
“Just glad I captured this original @banksy artwork before it was painted over — think it’s unfair that someone decides to ruin another’s piece of art,” wrote one Instagram user, posting a dated picture of the mural.
“Why??? I can’t understand why they’ve whitewashed this masterpiece, it’s an absolutely tragedy,” another user on Facebook wrote.
The mural has been confirmed, as per the secretive artist’s Instagram page, to be his genuine work. Known for his politically charged art, the elusive graffitist has left his mark at hundreds of locations around the world, his creative satire touching on issues including the European migrant crisis and Israel-Palestine relations.
The family that owned the property on which the mural was painted said shortly after the work was erected that they were looking at options to sell the artwork to a London gallery, with proceeds to go to charity.
Last year, the artist pulled a million-dollar prank after his famous “Girl with Balloon” was automatically shredded in its frame after it was sold at Sotheby’s auction house in London.
Banksy has yet to address the disappearance of his Brexit-inspired art. The U.K. is due to leave the E.U. on Oct. 31 after delays in working out an exit deal.
Indonesia will build a new capital city on the island of Borneo, home to some of the world’s biggest coal reserves and and orangutan habitats, as President Joko Widodo seeks to ease pressure on congested and sinking Jakarta.
The new administrative headquarters will be built between North Penajam Paser and Kutai Kartanegara in East Kalimantan, Jokowi, as the president is commonly known, told reporters in Jakarta on Monday. The relocation of the capital, some 1,400 kilometers away from Jakarta, will help spread economic activity outside the nation’s most-populous island of Java, the president has said.
Jokowi has displayed an urgency not shown by his predecessors in pressing on with the capital relocation plan, which has been periodically discussed for decades. With the greater Jakarta area, home to about 30 million people, nearing a gridlock and pollution levels reaching unhealthy levels, efforts to decongest the city have made little progress with tens of thousands of cars getting added to the roads every year.
With more than 15,000 people per square kilometer in Jakarta– twice the density of Singapore — there’s little space to build more without rehousing thousands of families. To make matters worse, two-fifths of the city is below sea level and parts of it are sinking at 20 centimeters a year.
Economic Losses
Jakarta’s miserable traffic is a result of the city’s overwhelming importance in the nation’s economy. The metropolitan area generates almost a fifth of Indonesia’s annual gross domestic product. Gridlocks and public transport woes cost the city about 100 trillion rupiah ($7 billion) a year in economic losses, according to official estimates.
The cost of moving the capital is estimated at 466 trillion rupiah if it involved development of 40,000 hectares of land for an estimated 1.5 million residents, according to Planning Ministry estimates. The cost could be whittled down to 323 trillion rupiah if only part of the state apparatus was shifted to an area of 30,000 hectares, it said in April.
Jokowi has argued shifting the capital will help address income disparity in the archipelago of more than 17,000 islands. While Java accounts for almost 60% of Indonesia’s population and contributes about 58% of its gross domestic product, Kalimantan accounts for 5.8% of the population and contributes 8.2% of GDP.
With Jokowi pitching the new capital as a symbol of Indonesian identity and progress, the project will be a significant part of his legacy. Authorities have talked about building a modern, smart and green city which can serve as the capital for a century.
The government plans to begin construction of the new city from 2021 and may start relocating some offices from 2024, according to Planning Minister Bambang Brodjonegoro. The project will be financed by the government as well as through private-public partnerships.
(DUBAI, United Arab Emirates) — Saudi Arabia and the United Arab Emirates pledged Monday to keep their floundering coalition war against Yemen’s Houthi rebels together after an Emirati troop pullout and the rise of the southern separatists they supported.
The joint communique came as the Houthis launched at least six ballistic missiles and two drone attacks into Saudi Arabia, keeping up its pressure on the kingdom as online infighting between the Emirati and Saudi intelligentsia exposed growing cracks between the usually lockstep oil-rich nations.
The statement, carried by both the Emirati and Saudi state news agencies, said both nations’ “political, military, relief and development efforts” would continue. It also said the countries both rejected and condemned the “accusations and defamation campaigns targeting the UAE” since its decision in June to begin withdrawing troops.
The UAE, an autocratic federation of seven sheikhdoms home to Dubai, has not publicly acknowledged how many troops it withdrew from Yemen. Yemeni officials have suggested Emirati troop strength has dropped by as much as 75% out of around 10,000 troops.
The Emirati withdrawal followed rising tensions between Iran and the U.S. over Tehran’s collapsing nuclear deal with world powers, suggesting Abu Dhabi worried about having forces at home in case an armed conflict broke out.
While Emirati troops often weren’t directly involved in front-line combat, they organized local forces and handled intelligence operations in Yemen’s south. Those forces included separatists seeking their own nation who have swept into areas to seize control from Yemen’s internationally recognized government, leading to clashes between the supposed allies.
The withdrawal of Emirati forces drew derision from Saudi-allied intellectuals online. The kingdom, itself an autocracy, has a tightly controlled media that has whipped up nationalistic fervor since the rise of Saudi Crown Prince Mohammed bin Salman. Prince Mohammed is thought to be very close to Abu Dhabi’s powerful crown prince, Sheikh Mohammed bin Zayed Al Nahyan.
In recent days, even the foreign minister of Bahrain, an island nation closely tied to Saudi Arabia, stepped into the fray to say on Twitter that the spilled blood of Emirati war dead “is not erased by statements that deny it.”
Meanwhile, Saudi Arabia said it intercepted six ballistic missiles and two drones launched by the Houthis into the kingdom. The Houthis earlier said they launched 10 missiles. The discrepancy could not be immediately explained.
In the wake of violent clashes in Hong Kong on Sunday, during which a live gunshot was fired for the first time since protests began in early June, Chinese state media used its harshest rhetoric yet to condemn the unrest and warned that Beijing could soon intervene.
The 12th straight weekend of protests in the semiautonomous enclave took a dangerous turn when police deployed water cannons and one officer fired a gun into the air to disperse protesters, who hurled bricks and petrol bombs at officers in the New Territories district of Tsuen Wan.
The Hong Kong government confirmed that six police officers drew their pistols to fend off protesters attacking them. One of the police officers fired a warning shot into the air “in order to protect the safety of other officers and himself,” according to a statement. The use of live ammunition is extremely rare in Hong Kong.
Following the clashes, China’s state-run Xinhua News Agency published a commentary asserting that Beijing has the authority and the responsibility to step in and quell the unrest. “If riots happen, the central government has to intervene,” Xinhua said, drawing on historic comments from China’s paramount leader Deng Xiaoping.
The commentary also called the protests a “color revolution” aimed at overturning the government. Chinese government officials have in previous weeks said that the protests have the characteristics of a “color revolution,” a reference to pro-democratic uprisings in former Soviet states and the Balkans throughout the early 2000s.
This weekend’s return to violence followed a peaceful march the previous Sunday which organizers say 1.7 million people attended. On Friday, protesters formed a human chain across the city in a nod to a 1989 protest in the Baltic states against Soviet Union rule.
Police said that 15 officers were injured in the melee on Sunday, and 29 people were arrested, including a 12-year-old child.
Protests began in early June as a series of peaceful marches against a now-suspended bill that would have for the first time allowed Beijing to extradite criminal suspects to the mainland to face trial under the Communist Party-controlled court system. But the movement has morphed into a wider antigovernment campaign, with some protesters calling for full democracy in the former British colony.
Protests have become a common occurrence in the city, and have frequently descended into violent clashes with police, who have been criticized for their use of force. In recent weeks, demonstrators have shut down the city’s subway trains and the international airport with organized rallies.
Fears have risen in recent weeks that Beijing could intervene in the lead-up to its National Day celebration on Oct. 1, marking the 70th anniversary of the People’s Republic of China. The People’s Liberation Army has a permanent presence in Hong Kong, while there have been reports of China’s paramilitary police force amassing in the nearby city of Shenzhen.
(BIARRITZ, France) — A top Iranian official paid an unannounced visit Sunday to the G-7 summit and headed straight to the buildings where leaders of the world’s major democracies have been debating how to handle the country’s nuclear ambitions.
France’s surprise invitation of Iranian Foreign Minister Mohammad Javad Zarif was a high-stakes gamble for French President Emmanuel Macron, who is the host of the Group of Seven gathering in Biarritz.
Zarif’s plane left Tehran on Sunday morning and touched down a few hours later at the Biarritz airport, which has been closed since Friday to all flights unrelated to the official G-7 delegations. A senior French official, speaking on condition of anonymity to discuss the sensitive talks, said Zarif went directly into a meeting with French Foreign Minister Jean-Yves Le Drian.
GEORGES GOBET—AFP/Getty ImagesThe air-plane which carried Iran’s Foreign Minister Mohammad Javad Zarif stands on the tarmac at the airport of the French seaside resort of Biarritz, south-west France, during the G7 summit in Biarritz, on August 25, 2019.
The Iranian foreign ministry spokesman, Abbas Mousavi, said Zarif flew to Biarritz at the invitation of the French foreign minister. Mousavi said on Twitter that there would be no meetings or negotiations with American officials during Zarif’s trip.
Asked whether the White House was aware of Zarif’s visit, the French official said, “We operate on our own terms” but noted that Macron and U.S. President Donald Trump met for two hours Saturday and discussed Iran at length, as well as at the group dinner.
The official described it as a Franco-Iranian meeting for the moment and said that France “is working in full transparency with the U.S. and in full transparency with European partners.” The Iranian had met with Macron on Friday.
Zarif, who is under U.S. sanctions, had been scheduled to go to Asia as part of a tour to seek support for Iran amid the American campaign against it since Trump withdrew the U.S. from Tehran’s 2015 nuclear deal. U.S. Treasury Secretary Steve Mnuchin said Trump had not “set preconditions” on negotiations with Iran.
Zarif arrived as fissures emerged among G-7 leaders over how to deal with Iran.
Macron said the leaders agreed during a dinner the night before that the French president could serve as a G-7 messenger to Iran. Trump denied agreeing to anything, and Macron was forced to play down his role and acknowledge Trump’s status as “the president of the world’s number one power.”
The French official also said that based on Saturday night’s dinner, France considers it important to check in with Zarif to continue to bring positions closer together and ease tensions. The official said the French are not “mediators” but think they can contribute to de-escalation.
Macron said he has no formal mandate to speak for the G-7 leaders in delivering a message to Iran, but that he would be able to address the issue in the context of what they agreed to during a dinner.
For several months, Macron has taken a lead role in trying to save the 2015 nuclear accord, which has been unraveling since Trump pulled the U.S. out of the agreement. His office said the G-7 leaders agreed he should serve as a go-between with Iran.
“I haven’t discussed that,” Trump said Sunday morning. He described the dinner as “very, very good” and blamed the media for anything that implied otherwise. But it seemed from other accounts that the previous night’s dinner had been tense, with a clear divide between him and the rest of the G-7.
British Prime Minister Boris Johnson, greeting Macron for a morning meeting, congratulated the French president and shook his hand. “Well done. Bien joué,” Johnson said, using the French expression for “well played” often uttered in a successful round of cards.
“You did very well last night. My God that was a difficult one. You did brilliant, you did brilliant,” he added.
NICHOLAS KAMM—AFP/Getty ImagesG7 leaders and guests pose for a family picture with the Biarritz lighthouse in the background on the second day of the annual G7 summit in Biarritz, south-west France on August 25, 2019.
Tristen Naylor, deputy director of the G7 Research Group, described the invitation as “a wildcard move.”
“The risks to the French president were quite large. He could have evoked a very strong and negative reaction from the American president — everything from outright condemnation to actually the American president just saying enough of this and getting on the plane and flying away,” Naylor said.
But the invitation was also something of a mirror of Trump’s own high-stakes diplomacy. “Something that we’ve learned over the 2 ½ years about the American president is that what works with him, what resonates with him, is surprise, is a big move, something flashy,” he said. “And the French president has taken a page from it, I think, executed a maneuver out of it with great aplomb.”
German Chancellor Angela Merkel said Zarif’s presence was parallel to any G-7 events and that everyone agreed to seek more talks rather than tensions. She added: “It is absolutely right to explore every possibility, and what we discussed yesterday — which wasn’t a formal assignment for anyone. But Iran certainly should know what we discussed.”
The G-7 leaders regrouped Sunday to focus on what they can do to boost growth at a time of heightened uncertainty. Manufacturers around the world are smarting from the trade dispute between the U.S. and China, which has led to new import taxes on hundreds of billions of dollars-worth of goods. Businesses don’t know where tariffs will be imposed next.
The White House had said putting the economy on the agenda was Trump’s idea, but the G-7 has for over four decades always included a focus on the economy. It was founded as a response to the Arab oil embargo in the 1970s and the recession that followed.
The backdrop is particularly worrying this year, with the U.S. economy slowing and Germany and Italy close to recession. Meanwhile, Britain is due to leave the EU in October, and there is no agreement on how it should happen, raising the possibility of a disorderly exit that could wreak havoc for business in Europe.
Johnson said Britain and Europe needed to prepare for that, saying the prospect of a Brexit deal was “touch and go.”
The G-7 summit includes the heads of Britain, France, Germany, Japan, Canada and Italy as well as a representative of the 28-country EU.
(TASIILAQ, Greenland) — From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, with a high rate of substance abuse and suicide.
One scientist called it the “end of the planet.”
When U.S. President Donald Trump floated the idea of buying Greenland, it was met with derision, seen as an awkward and inappropriate approach of an erstwhile ally.
But it might also be an Aladdin’s Cave of oil, natural gas and rare earth minerals just waiting to be tapped as the ice recedes.
The northern island and the rest of the Arctic aren’t just hotter due to global warming. As melting ice opens shipping lanes and reveals incredible riches, the region is seen as a new geopolitical and economic asset, with the U.S., Russia, China and others wanting in.
“An independent Greenland could, for example, offer basing rights to either Russia or China or both,” said Fen Hampson, the former head of the international security program at the Centre for International Governance Innovation think tank in Waterloo, Ontario, who is now a professor at Carleton University.
He noted the desire by some there to secede as a semi-autonomous territory of Denmark.
“I am not saying this would happen, but it is a scenario that would have major geostrategic implications, especially if the Northwest Passage becomes a transit route for shipping, which is what is happening in the Russian Arctic.”
Alice Li—The Washington Post/Getty ImagesThe Canadian coast guard icebreaker Amundsen travels to the west of Cornwallis Island in the Canadian Arctic. In 2015, scientists from the ArcticNet research consortium, which is based at Universite Laval in Quebec City, traveled through the Northwest Passage mapping the sea floor and studying marine life.
In April, Russian President Vladimir Putin put forward an ambitious program to reaffirm his country’s presence in the Arctic, including efforts to build ports and other infrastructure and expand its icebreaker fleet. Russia wants to stake its claim in the region that is believed to hold up to one-fourth of the Earth’s undiscovered oil and gas.
China sees Greenland as a possible source of rare earths and other minerals and a port for shipping through the Arctic to the eastern U.S. It called last year for joint development of a “Polar Silk Road” as part of Beijing’s Belt and Road Initiative to build railways, ports and other facilities in dozens of countries.
But while global warming pushes the cold and ice farther north each year, experts caution that the race to the Arctic is an incredibly challenging marathon, not a sprint.
The melting of the Greenland ice sheet creates uncertainty and danger for offshore oil and gas developers, threatening rigs and ships. “All that ice doesn’t suddenly melt; it creates icebergs that you have to navigate around,” said Victoria Herrmann, managing director of the Arctic Institute, a nonprofit focused on Arctic security.
On the other hand, while mining in Greenland has been expensive due to the environment, development costs have fallen as the ice has melted, making it more attractive to potential buyers, she said.
Christine Zenino—Getty ImagesThe town of Tasiilaq, East Greenland.
Strategically, Greenland forms part of what the U.S. views as a key corridor for naval operations between the Arctic and the North Atlantic. It is also part of the broader Arctic region, considered strategically important because of its proximity to the U.S. and economically vital for its natural resources.
Hampson noted it was an American protectorate during World War II, when Nazi Germany occupied Denmark, and the U.S. was allowed to build radar stations and rent-free bases on its territory after the war. That includes today’s Thule Air Force Base, 1,200 kilometers (745 miles) south of the North Pole.
After the war, the U.S. proposed buying Greenland for $100 million after flirting with the idea of swapping land in Alaska for parts of the Arctic island. The U.S. also thought about buying Greenland 80 years earlier.
Trump “may not be as crazy as he sounds despite his ham-fisted offer, which clearly upset the Danes, and rightly so,” Hampson said.
Greenland is part of the Danish realm along with the Faeroe Islands, another semi-autonomous territory, and has its own government and parliament. Greenland’s 56,000 residents got extensive home rule in 1979 but Denmark still handles foreign and defense policies, with an annual subsidy of $670 million.
Its indigenous people are not wealthy, and vehicles, restaurants, stores and basic services are few.
Trump said Sunday he’s interested in Greenland “strategically,” but its purchase is “not No. 1 on the burner.”
MADS CLAUS RASMUSSEN—AFP/Getty ImagesDenmark’s Prime Minister Mette Frederiksen talks to the press after US President Trump cancelled his state visit when her government said its territory Greenland was not for sale on August 21, 2019 in Copenhagen, Denmark.
Although Danish Prime Minister Mette Frederiksen called Trump’s idea to purchase Greenland an “absurd discussion,” prompting him to call her “nasty” and cancel an upcoming visit to Copenhagen, she also acknowledged its importance to both nations.
“The developments in the Arctic region calls for further cooperation between the U.S. and Greenland, the Faeroe Islands and Denmark,” she said. “Therefore I would like to underline our invitation for a stronger cooperation on Arctic affairs still stands.”
Greenland is thought to have the largest deposits outside China of rare earth minerals used to make batteries and cellphones.
Such minerals were deemed critical to economic and national security by the U.S. Interior Department last year, and as demand rises “deposits outside of China will be sought to serve as a counterbalance to any market control that could be exerted by a single large producer,” said Kenneth Medlock, senior director at the Center for Energy Studies at Rice University.
Off Greenland’s shores, the U.S. Geological Survey estimates there could be 17.5 billion undiscovered barrels of oil and 148 trillion cubic feet of natural gas, though the remote location and harsh weather have limited exploration. Around the Arctic Circle, there’s potential for 90 billion barrels of oil.
Only 14 offshore wells were drilled in the past 40 years, according to S&P Global Analytics. So far, no oil in exploitable quantities has been found.
“It’s very speculative, but in theory they could have a lot of oil,” said Michael Lynch, president of Strategic Energy & Economic Research Inc. “It’s perceived as being the new Alaska, where the old Alaska was thought to be worthless and turned out to have huge reserves. And it’s one of the few places on Earth that’s lightly populated, and it’s close to the U.S.”
Michael Byers, an Arctic expert at the University of British Columbia, suggests there are better approaches for Washington than the politically awkward suggestion of purchasing Greenland.
“There’s no security concern that would be dealt with better if Greenland became a part of the United States. It’s part of the NATO alliance,” he said. “As for resources, Greenland is open to foreign investment. Arctic resources are expensive and that is why there is not more activity taking place. That’s the barrier. It’s not about Greenland restricting access.”
That’s been the approach taken by China, which has had mixed success. Greenland officials have visited China to look for investors but Beijing’s interest also has provoked political unease.
In 2016, Denmark reversed plans to sell Groennedal, a former U.S. naval base that the Danish military had used as its command center for Greenland after a Hong Kong company, General Nice Group, emerged as a bidder, according to defencewatch.dk, a Danish news outlet.
Last year, then-U.S. Defense Secretary James Mattis successfully pressured Denmark not to let China bankroll three commercial airports on Greenland, over fears they could give Beijing a military foothold near Canada, The Wall Street Journal reported.
Beijing’s biggest Greenland-related investment to date is an ownership stake by a Chinese company in Australia-based Greenland Minerals Ltd., which plans to mine rare earths and uranium.
“People talk about China, but China can access Arctic resources through foreign investment,” Byers said. “And foreign investment is a lot cheaper than trying to conquer something.”
(RIO DE JANEIRO) — Backed by military aircraft, Brazilian troops on Saturday were deploying in the Amazon to fight fires that have swept the region and prompted anti-government protests as well as an international outcry.
President Jair Bolsonaro also tried to temper global concern, saying that previously deforested areas had burned and that intact rainforest was spared. Even so, the fires were likely to be urgently discussed at a summit of the Group of Seven leaders in France this weekend.
Some 44,000 troops will be available for “unprecedented” operations to put out the fires, and forces are heading to six Brazilian states that asked for federal help, Defense Minister Fernando Azevedo said. The states are Roraima, Rondonia, Tocantins, Para, Acre and Mato Grosso.
The military’s first mission will be carried out by 700 troops around Porto Velho, capital of Rondonia, Azevedo said. The military will use two C-130 Hercules aircraft capable of dumping up to 12,000 liters (3,170 gallons) of water on fires, he said.
An Associated Press journalist flying over the Porto Velho region Saturday morning reported hazy conditions and low visibility. On Friday, the reporter saw many already deforested areas that were burned, apparently by people clearing farmland, as well as a large column of smoke billowing from one fire.
The municipality of Nova Santa Helena in Brazil’s Mato Grosso state was also hard-hit. Trucks were seen driving along a highway Friday as fires blazed and embers smoldered in adjacent fields.
LULA SAMPAIO—AFP/Getty ImagesAerial view showing smoke billowing from a patch of forest being cleared with fire in the surroundings of Boca do Acre, a city in Amazonas State, in the Amazon basin in northwestern Brazil, on August 24, 2019. – Brazil on August 25 deployed two Hercules C-130 aircraft to douse fires devouring parts of the Amazon rainforest.
The Brazilian military operations came after widespread criticism of Bolsonaro’s handling of the crisis. On Friday, the president authorized the armed forces to put out fires, saying he is committed to protecting the Amazon region.
Azevedo, the defense minister, noted U.S. President Donald Trump’s offer in a tweet to help Brazil fight the fires, and said there had been no further contact on the matter.
Despite international concern, Bolsonaro told reporters on Saturday that the situation was returning to normal. He said he was “speaking to everyone” about the problem, including Trump, Spanish Prime Minister Pedro Sánchez and several Latin American leaders.
Bolsonaro had described rainforest protections as an obstacle to Brazil’s economic development, sparring with critics who say the Amazon absorbs vast amounts of greenhouse gasses and is crucial for efforts to contain climate change.
The Amazon fires have become a global issue, escalating tensions between Brazil and European countries who believe Bolsonaro has neglected commitments to protect biodiversity. Protesters gathered outside Brazilian diplomatic missions in European and Latin American cities Friday, and demonstrators also marched in Brazil.
“The planet’s lungs are on fire. Let’s save them!” read a sign at a protest outside Brazil’s embassy in Mexico City.
The dispute spilled into the economic arena when French leader Emmanuel Macron threatened to block a European Union trade deal with Brazil and several other South American countries. “First we need to help Brazil and other countries put out these fires,” Macron said Saturday.
The goal is to “preserve this forest that we all need because it is a treasure of our biodiversity and our climate thanks to the oxygen that it emits and thanks to the carbon it absorbs,” he said.
Leonardo Carrato—Bloomberg via Getty ImagesRescue workers stand next to trees scorched by wildfires in the Amazon rainforest near in Porto Velho, Rondonia state, Brazil, on Saturday, Aug. 24, 2019.
In a weekly video message released Saturday, German Chancellor Angela Merkel said the Group of Seven leaders “cannot be silent” and should discuss how to help extinguish the fires.
Bolivia has also struggled to contain fires that swept through woods and fields. A U.S.-based aircraft, the B747-400 SuperTanker, is flying over devastated areas in Bolivia to help put out the blazes and protect forests.
On Saturday, several helicopters along with police, military troops, firefighters and volunteers on the ground worked to extinguish fires in Bolivia’s Chiquitanía region, where the woods are dry at this time of year.
Farmers commonly set fires in this season to clear land for crops or livestock, but sometimes the blazes get out of control. The Bolivian government says 9,530 square kilometers (3680 square miles) have been burned this year.
The government of Bolivian President Evo Morales has backed the increased cultivation of crops for biofuel production, raising questions about whether the policy opened the way to increased burning.
Similarly, Bolsonaro had said he wants to convert land for cattle pastures and soybean farms. Brazilian prosecutors are investigating whether lax enforcement of environmental regulations may have contributed to the surge in the number of fires.
Leo Correa—APA fire burns a field on a farm in the Nova Santa Helena municipality, in the state of Mato Grosso, Brazil, Friday, Aug. 23, 2019.
Brazil’s justice ministry also said federal police will deploy in fire zones to assist other state agencies and combat “illegal deforestation.”
Fires are common in Brazil in the annual dry season, but they are much more widespread this year. Brazilian state experts reported nearly 77,000 wildfires across the country so far this year, up 85% over the same period in 2018.
More than half of those fires occurred in the Amazon region.
(HONG KONG) — Police in Hong Kong drew their guns Sunday night after a small group of protesters attacked officers with sticks and rods, and used tear gas to clear pro-democracy demonstrators who had taken over a street
The confrontations were the latest violence in a summer of protests that have shaken the city’s government and residents. Police also brought out water cannon trucks for the first time, though they did not use them directly on protesters.
The main showdown took place on a major drag in the outlying Tsuen Wan district following a protest march that ended in a nearby park. While a large crowd rallied in the park, a group of hard-line protesters took over a main street, strewing bamboo poles on the pavement and lining up orange and white traffic barriers and cones to obstruct police.
After hoisting warning flags, police used tear gas to try to disperse the crowd. Protesters responded by throwing bricks and gasoline bombs toward the police. The result was a surreal scene of small fires and scattered paving bricks on the street between the two sides, rising clouds of tear gas and green and blue laser lights pointed by the protesters at the police.
PHILIP FONG—AFP/Getty ImagesPolice fire tear gas during a protest in Tsuen Wan district of Hong Kong on August 25, 2019.
The protesters eventually decided to abandon their position. Two water cannon trucks and a phalanx of police vehicles with flashing lights joined riot police on foot as they advanced up the street. They met little resistance. Television footage showed a water cannon being fired once, but perhaps more as a test, as it didn’t appear to reach the retreating protesters.
Some protesters said they are resorting to violence because the government has not responded to their peaceful demonstrations.
“The escalation you’re seeing now is just a product of our government’s indifference toward the people of Hong Kong,” said Rory Wong, who was at the clash after the march.
One neighborhood resident, Dong Wong, complained about the tear gas. “I live on the 15th floor and I can even smell it at home,” he said. “I have four dogs, sneezing, sneezing all day. … The protesters didn’t do anything, they just blocked the road to protect themselves.”
Kin Cheung—APPolicemen clash with demonstrators on a street during a protest in Hong Kong, Sunday, Aug. 25, 2019.
Officers pulled their guns after protesters chased them down a street with sticks and rods, calling them “gangsters.” Public broadcaster RTHK said one of its reporters saw a uniformed officer fire a shot into the sky.
Prior to the skirmishes, tens of thousands of umbrella-carrying protesters marched in the rain. Many filled Tsuen Wan Park, the endpoint of the rally, chanting, “Fight for freedom, stand with Hong Kong,” the South China Morning Post newspaper reported.
The march in Hong Kong’s New Territories started near the Kwai Fong train station, which has become a focal point for protesters after police used tear gas there earlier this month. Police with riot gear could be seen moving into position along the march route.
Protesters have taken to the semiautonomous Chinese territory’s streets for more than two months. Their demands include democratic elections and an investigation into police use of force to quell the protests.
Billy H.C. Kwok—Getty ImagesProtesters shout during a rally in Tsuen Wan on August 25, 2019 in Hong Kong, China.
A large group clashed with police on Saturday after a march in the Kowloon Bay neighborhood, building barricades and setting fires in the streets. Police said they arrested 29 people for various offenses, including unlawful assembly, possession of offensive weapons and assaulting police officers.
The clashes, while not as prolonged or violent as some earlier ones, ended a brief lull in the violence. The protests had turned largely peaceful the previous weekend, after weeks of escalating violence.
In nearby Macao, another Chinese territory, a pro-Beijing committee chose a businessman as the gambling hub’s next leader with little of the controversy surrounding the government in Hong Kong. Ho Iat-seng, running unopposed, will succeed current leader Chui Sai-on in December. Asked about the protests in Hong Kong, the 62-year-old Ho said they would end eventually, like a major typhoon.
Protesters in Hong Kong have demanded that the city’s leader, Carrie Lam, also chosen by a pro-Beijing committee, step down, though that demand has evolved into a broader call for fully democratic elections.
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CSIR UGC NET Result 2019 Announced @ csirhrdg.res.in | Get Cut off Marks! The Council of Scientific and Industrial Research (CSIR) released the JRF and NET Result for Exam Conducted in 2019. However, Candidates those who attended the Examination can start to check their CSIR UGC NET Result 2019. We provide you with a direct download link in the section below for the Joint CSIR UGC JRF/NET Result 2019. Moreover, Candidate just needs to click on the link below to check your CSIR UGC NET Result.
CISR NET Result 2019- Declared
The Council of Scientific and Industrial Research has released the CISR NET June 2019 results online. Candidates who have appeared for the examination can check the results on the official website. The CISR NET 2019 results have been released in the PDF format containing the list of candidates who have qualified the examination. Candidates who appeared got the CISR UGC NET June 2019 exam can visit the official website csirhrdg.res.in to check the results. Alternatively, candidates can also click on the direct link provided below to check the results of CISR UG NET June 2019 exam 2019.
Furthermore, Candidates those who wrote the Joint CSIR UGC NET Examination in 2019 has their result out today. Applicants just need to click on the link given below and follow the steps as listed below.
CSIR UGC NET Cut Off and Final Result
The Cut marks are the minimum marks one have to score to get qualified for an Exam. The UGC NET gives the Cut Off marks based on the number of candidates applied and the high score a person got in the Results. Moreover, UGC NET Cut Off Marks are listed according to the categories.
The Candidates who are qualified in the written text will be having a Counselling for the allotment of seats for Junior Research fellow and NET (Lecturer). However, Click on the link below and check your CSIR UGC JRF/NET Result 2019. We advise the Aspirants those who qualified in the Examination be prepared for the Counselling.
Steps to Check the CSIR UGC NET Result
Click on the link UGC NET Result below
We redirect you to the Official page of UGC Net Result
Check for the link CSIR UGC NET Result
Open and enter the details required and submit
The Result will be shown on a new page
Take a photocopy or save as PDF for future references
Keep the Result copy until the selection process is over.
Finally, Aspirant is advised to visit our site www.recruitent.guru for more related job notifications. A Jobseeker, can get details like Recruitment Notification, Admit Card, Exam Date, Result, Previous Papers, Syllabus of particular Board Exam or Recruitment on our site. Keep visiting our Website.
ICSI CS Result 2019 Declared: CS Executive, Professional & Foundation Programmes Cut off & Merit List @ icsi.edu | As per the Notification, the Institute of Company Secretaries of India (ICSI) has released the ICSI Result 2019 on 25th August 2019. Along with the Result Date, ICSI has announced the Result Declaration Time. ICSI CS Foundation and Professional Result (Old & New Syllabus) at 11.00 AM. The ICSI CS Executive Result 2019 (Old & New Syllabus) at 2.00 PM. Here on this page, all the applicants can get the direct link for ICSI CS Result.
ICSI CS Result 2019
Dear candidates!! Applicants those who have appeared for the CS Executive, Professional & Foundation Programmes can check and download your results from the below link. ICSI CS Examination was done for the CS Foundation Programme on 8th to 9th June 2019, ICSI Exam for Executive Programme on 1st, 2nd, 3rd, 4th, 6th, 7th & 9th June 2019. And ICSI Exam for Professional Programme on 1st, 2nd, 3rd, 4th, 6th, 7th, 8th, 9th & 10th June 2019. Here on this page, all the candidates can get your result. Because we will be updating the latest result link and it will be activated at the time of official announcement. Result of CS Professional Programme and Executive Programme Examinations held in June 2019 would be declared on 25th August 2019 (Sunday).
ICSI Result 2019 – Overview
ICSI CS Result 2019 | CS Executive, Professional & Foundation Programmes Cut Off, Merit List
Description
Details
Organization Name
Institute of Company Secretaries of India (ICSI)
Post Name
Executive, Professional Programme & Foundation Programme
A large number of candidates have participated in the ICSI CS Examination for various Programmes. Moreover, the ICSI officials have organized the Examination from 01st to 10th June 2019. Recently we have got the notification regarding CS Executive, Professional & Foundation Programmes Result 2019 Declaration Date as 25th August 2019. So all the candidates are eagerly waiting for the ICSI Result 2019. Also from the above table applicants can get complete information about the ICSI CS Result. We advise the applicants to keep track on this page to get the CS Executive Result 2019 on time.
The officials from the Institute of Company Secretaries of India (ICSI) will declare the ICSI CS Cut off marks 2019. All the candidates who have taken part in the ICSI CS Written Examination can check your Cut off marks from the official website. The marks will be declared based on the marks and some categories. If the applicants will get the Cut off marks more, applicants name will attain into the Merit List.
ICSI CS Merit List 2019
The ICSI CS Merit List 2019 is for the candidates those who have scored the top or higher marks in the examination. Candidates those who are expecting the ICSI CS merit list can check it from the Institute of Company Secretaries of India (ICSI) official website. Here we will be updating the latest result link for the Cut off marks & merit list. Along with the result link, we have also provided some steps to download ICSI CS Result 2019.
How to check the ICSI CS Foundation Result 2019?
Applicants can click the ICSI official website link i.e, icsi.edu
On the home page, candidates click on the Students section
In the Students, tab click on the Examination section
A new page will be open, Search for the ICSI CS Executive, Professional Programme & Foundation Programme Examination Result
Click on the link and enter the required details
ICSI CS Executive Result 2019 will display on your screen
RRB JE Admit Card 2019 for Stage II Exam has been released on 24th August 2019. Moreover, Aspirants can get the Travel Pass and can check the exam city from the below page. Thus, Contenders should download the admit card before the exam date. The RRB JE Stage-II Examination will be held from 28th August to 01st September 2019. Download the RRB Admit Card through the direct link provided at the end of the section.
RRB JE Admit Card 2019
Railway Recruitment Board has announced the Stage II Exam date on its Official portal. Hence, Candidates who applied for the post of Junior Engineer can download the RRB Hall Ticket now. Follow the How to Download steps to get the admit card. Therefore, all the aspirants can check out the Stage I Results from the up coming webpage. Check the eligibility by downloading the result. After that, Contenders can download the RRB JE Admit Card to take down the Stage II examination.
Aspirants can view the below-given details in the RRB Admit Card. While downloading the RRB Hall Ticket applicants have to check to the entered particulars. Make sure that all the features entered in the RRB JE Admit Card should match the particulars in the application form. Candidates are advised to make the changes in the Railway Recruitment Board Admit Card if any mismatches found. Check RRB JE Stage I Result from here.
Railway Recruitment Board has declared the exam date as 28th August to 01st September 2019. The board will update the link to download the Travel Pass and to get the Exam City details. The direct link will be on active from today onwards. Thus, all the aspirants must download the admit card before the exam date. The exam will be held in various city. Download the RRB Stage II Exam Notice from here. Therefore, the exam details such as exam time, center code, exam center will be printed on the RRB JE Admit Card.
>>> RRB Stage II Exam Date Notice 2019 – Download<<<
Vital Documents to Carry for RRB JE Exam 2019
RRB Exam Hall Ticket is an important document to take down the RRB JE Stage II Exam. Moreover, Examiners should carry any of the original document to participate in the exam. Aspirants are suggested to carry the valid Government ID proof to clear the doorstep verification.
Original Photograph
Voter Card
Pan Card
Employee ID
College ID
PAN Card
Passport
Driving License
Any other ID proof issued by a Gazetted Officer
Bank Pass Book with the photograph
RRB JE Admit Card Download Steps 2019
Visit the “RRB JE Hall Ticket” link
Enter the Login details
Click on to the Submit Button.
A Call Letter page will arise on the screen.
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SBI PO Result 2019 Released @ sbi.co.in – State Bank of India (SBI) has recently uploaded Mains Exam Result for the Post of Probationary Officer PO Recruitment 2019. Those Candidates who have appeared in this Recruitment Exam can download Pre Exam Result now!!!. SBI has published the Probationary Officer Mains Exam Result on 24th August 2019. A huge number of applicants have applied for this Recruitment and written the Mains Examination. Those candidates can check their SBI PO mains Exam Result from the official website i.e, www.sbi.co.in. Moreover, Candidates can check SBI PO result from this page by clicking on the link.
Latest Update:SBI PO Mains Result 2019 will be released on 24th August 2019.
SBI PO Result Date 2019 @ 24th August 2019
Applicants should clear the Preliminary Examination to attend the Main Examination. SBI PO Mains Examination was conducted on 20th July 2019. All those applicants who have appeared for the SBI PO Mains Examination can check and download your SBI PO Result 2019 from this page. Applicants all most waited nearly one month to get the Result, finally, SBI has released the Probationary Officer Mains Exam Result. Here on this page, we have given a direct link to verify your results from the below table. Candidates can get the direct link for the live Notification of SBI Recruitment 2019.
The SBI PO result 2019 has been declared for only those candidates who have secured qualifying/passing marks in each stage of the entrance exam. Based on the SBI PO 2019 result, at each stage of examination (pre, mains & interview) an adequate number of candidates from each category to be shortlisted for appearing in a subsequent round of selection procedure. The SBI PO Mains 2019 examination authority declares the result for each stage of examination separately. And based on the qualifying criteria at each stage, a certain number of candidates are selected for the next round of the recruitment process.
A cumulative score of the mains exam and the interview process is considered to prepare the final merit list of selected students. The merit list is prepared in the descending order of marks obtained by candidates. Candidates who make it to the merit list will be given the appointment letter by the Bank of Candidate's choice.
SBI PO Result 2019 Cut off @ www.sbi.co.in
Applicants those who have written the SBI PO Mains 2019 Examination can get the Cut off marks & Merit List along with the SBI PO Mains Exam Result 2019. So all the candidates can get your Cut off marks and Merit List at the time of result announcement. Also, the officials will decide the Cut off marks and Merit list based on the Examination Results. The SBI PO Mains 2019 Exam Result will help the candidates to attend the next round of Interview. If the candidates cleared the Written Exam they can attend the next round.
How to check SBI PO Mains Result?
Applicants initially, should visit the official website of State Bank Of India i.e, www.sbi.co.in
In the home page click on the Careers tab. A new page will be open
In that page, Latest announcements section, select the SBI PO Prelims Exam Result
In that page, enter the roll number and date of birth
Give submit button, SBI PO Mains Result 2019 will display on your screen
Download the SBI PO mains Result for further reference.
By Puja MehraKey direct taxation proposals in the July 5 budget triggered a sharp precipitation in business and market sentiment. On Friday, finance minister Nirmala Sitharaman reversed some of those mood-spoilers and indicated the residual irritants could also be dropped soon. Going forward, more tax reforms can be expected, with the submission of a key report earlier this week to GoI marking a step forward in the process to bring in anew income-tax legislation.To what extent this long-awaited reform can be growth-enhancing will depend on the design and philosophy of the new tax system proposed. India deserves a tax law that is easy to comply with and difficult to evade or avoid. Besides revenue considerations, the link between taxation philosophy and economic growth is crucial in the current context of an unfolding economic slowdown.The Income Tax Act, 1961, that has had more than 2,000 amendments, is incomprehensible and, in many places, even contradictory. Increasingly, the clear position of law is no longer discernible to taxpayers, tax administrators, practitioners or judges. This leads to avoidable waste of national time and economic resources, and growing scope for rentseeking by the taxman.On two significant counts, India's taxation philosophy has regressed to the pre-1991 era — the rates structure, and the inherent bias in the tax treatment of equity versus debt. In 1946-47, the maximum marginal rate of tax on personal incomes was 96.88%. It was brought down to 85% by 1971-72. The period was characterised by unimpressive growth in tax revenue and GDP. This was changed when the 'Dream Budget' of 1997-1998 slashed the maximum marginal rate to 30%. As a consequence, direct tax collections that had been 1.25% of GDP in 1950-51 rose to 3.04% in 2001-02. They further increased to 6.12% by 2007-08 and slightly lower, at 5.84%, in 2017-18.The number of tax papers that had crept up from 0.2% of the population in 1960-61 to barely 1.14% by 1994-95, increased to 2.72% in 2003-04 and 4.97% by 2015-16. The corporate tax rate in India was among the highest across 171 countries in 2018. High rates encourage firms to push profits overseas to low-tax jurisdictions.The July 5 budget hiked the maximum marginal rate to 42.7%, to an extent reversing the reform accomplished in the 1990s. On Friday, Sitharaman indicated a reversal of this can be expected. Reverting to the philosophy of aiming for higher compliance rates and lower evasion throungh lower rates is a good move. Then, there is inherent bias in the Act against equity and in favour of debt. The bias does seem to explain why companies have tended to finance investments by raising loans more often than by equity.The task force report submitted on Monday has not been made public yet. But the two key reforms needed in the taxation approach were, in fact, highlighted in an earlier version submitted in August 2018. Its recommendations flowed from an understanding of the Act's flawed philosophy. It argued that interest on debt is deductible in determining profit while dividend payout is not. So, the marginal effective tax rate (METR) on equity financing is relatively high at 52.24% — assuming all post-tax corporate profit is distributed as dividend, and includes the 10% tax on dividends received in excess of Rs 1 million. METR on debt is just 30.9%, a clear incentive for higher leveraging to reduce the weighted average cost of capital, the report said.Removing the bias can lead to better allocation of resources for building capital, and end the private investments slowdown. Treating equity and debt alike can reduce the corporate sector's tax-induced dependence on credit over-leverage, which every few years escalates into an NPA crisis in public sector banks. The recommendations, therefore, were a tax rate of 15% for personal incomes between Rs 6 lakh and Rs 20 lakh, and 30% for incomes exceeding that. It suggested a corporate tax rate of 5% for banks, financial institutions including NBFCs, and power-producing companies and 15% for all other companies. Plus, to ensure zero loss in revenue collections, discontinuation of all existing incentives, exemptions and minimum alternate tax.Except for contributions of up to 10% of gross income to the National Pension Scheme (NPS), all other deductions and exemptions were proposed to be withdrawn. Surcharges were proposed to be retained, and for corporates levied at a uniform rate of 10%. Removing exemptions will not only preserve revenue collections, but also eliminate the bias in favour of debt and help revive investments.This government has a historic opportunity to rewrite the tax philosophy and design a law relevant for the next 50 years. It will be a pity if two flaws make it to the new legislation as well.
Synergy Group Corp, a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of the development.The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by the resolution professional running the bid process. The RP, Ashish Chhawchharia of Grant Thornton, will seek approval from the committee of Jet's creditors to include Synergy in the race on Monday, he told ET.The RP was appointed by India's bankruptcy court after it admitted an insolvency plea from Jet's top lender, State Bank of India, on loan repayment defaults. The committee of creditors was formed as part of the resolution process.The RP has collated claims from all creditors and is in charge of finding a new investor for the airline to clear its dues and give it a new life. Jet halted operations on April 17 after running out of cash and failing to raise money to stay afloat.The RP had received three EoIs for Jet as of August 10 – from Volcan Investments, which is billionaire Anil Agarwal's family trust; Panama-based investment firm Avantulo Group, and Russian Fund Treasury RA Creator. 70832965 Volcan withdrew a day later and Avantulo wasn't shortlisted for the next round of bidding, leaving the Russian fund the only selected entity.An email to an Avianca spokesperson who looks at matters pertaining to the parent company remained unanswered as of press time.While Jet's creditors have put in claims for Rs 30,558 crore, the RP has admitted Rs 12,555 crore, rejected Rs 11,996 crore and is verifying the remaining amount.The Synergy Group owns majority of Avianca Holdings formed in 2010 via the merger of Colombia's Avianca and El Salvador's TACA Airlines. It is Latin America's second-largest airline, after Chilean carrier LATAM Airlines.Avianca Holdings is loss-making and itself being restructured, including a change in management team, a phase out of aircraft and network optimisation.Synergy chairman Germán Efromovich's holding company, BRW Aviation, defaulted on a $456-million loan from United Airlines earlier this year, according to media reports. United's loan was backed by Efromovich's 51.5% stake in Avianca, the reports said. United, which has proposed a three-way business agreement with Avianca and Panama's Copa Airlines, sought to remove Efromovich from his position of control at Avianca, the reports said.
Suzuki Motorcycle, the two-wheeler arm of Suzuki Motor Corporation, has posted a strong double digit growth on the back of new premium scooters, bucking the trend of a sustained slide in the Indian two-wheeler market this fiscal year. While the forecast is that of a drop in growth in the run-up to the implementation of BS VI emission norms in April 2020, Suzuki Motorcycle is confident of using its full capacity at the existing plant in two years and is also going ahead with its plans of scouting for a fresh land parcel for the new factory. The decision to go ahead with the new plant comes at a time when automakers are shutting their plants due to falling demand. But Suzuki is looking at a sales target of 1 million units in the domestic market by the end of FY21, Koichiro Hirao, president of Suzuki Motorcycles India, told ET. "Yes there's a slowdown, but we know it is temporary. The market will bounce back in the coming year and Suzuki would like to continue to play a bigger role in India, which is the largest market in the world. The average age of twowheeler buyers is 27 and they will continue to drive growth in the future," he said. The two-wheeler market may have declined by 12% from April to July of FY20, but Suzuki posted a growth of 16% with a market share jump of 80-90 basis points. In FY19, Suzuki Motorcycle grew its domestic sales by 33%, ending the year with a market share of 3%. Much like the market, Suzuki admitted that its sales too have got affected, and it will now grow by 10% in FY20 against its earlier plan of over 30%, but the need for the second plant is still there. Earlier, there was a sense of urgency to put up the second plant, but a softening demand has given some time to the company to finalise the location of its second plant, said Hirao. The company is also looking to increase its exports from India to 100,000 units during the ongoing fiscal. At present, Latin American countries and neighbouring countries such as Bangladesh are the crucial export markets for Suzuki Motorcycles India. Currently, India accounts for a little less than 30% of Suzuki's global motorcycles business. Hirao said the share is likely to rise in the future, as India takes more lead responsibility to cater not only to emerging markets like Sri Lanka, Bangladesh or Africa or Latin America, but also developed markets like Japan, Europe and the US. The company will stick with its decision of staying away from mass market commuter segments in India, and focus on premium scooters above 125 cc and premium bikes above 150 cc. The company has also started work on building its electric portfolio and should have electric vehicles ready by 2021.
MUMBAI: Reliance Communications has asked Ericsson to refund Rs 579.74 crore that the bankrupt telco had paid it, saying the Swedish telecom equipment maker had to be treated on a par with other operational creditors. It also said the money paid must be returned because the insolvency resolution process that Ericsson had initiated against RCom had resumed.The demand may resurrect a legal battle and delay the insolvency process, given that the payment by RCom was made on Supreme Court's directions."Ericsson should not be allowed treatment which is any different than the treatment that shall be accorded to the other operational creditors… either in terms of a resolution plan subsequently approved, or, in the event of liquidation," Deloitte, the resolution professional overseeing the telco's affairs, said in a letter to Ericsson last week. ET has reviewed a copy of the letter. "Ericsson is requested to hereby initiate a refund of the total sum of the monies received by it," the RP said in the letter. 70834681 Ericsson may Seek Minutes of CoC MeetingThe letter requires Ericsson to join the queue of operational creditors including tower companies, equipment vendors and the Department of Telecommunications, which have claimed Rs 88,000 crore in dues, of which over Rs 70,000 crore had been verified.According to the company's lenders, payment to an operational creditor, in this case Ericsson, made while RCom is in insolvency is against the Insolvency and Bankruptcy Code. Financial lenders including State Bank of India, China Development Bank, Standard Chartered Bank, Deutsche Bank and DBS Bank, which have raised claims of up to Rs 57,382 crore, of which Rs 49,223.88 crore had been verified, get preference over operational creditors upon resolution.RCom keeled over under Rs 46,000 crore of debt and is undergoing insolvency proceedings with its assets up for sale.Ericsson plans to ask the RP to send the minutes of the Committee of Creditors meeting that passed the resolution demanding the refund, according to people aware of the development. The company will then take a call on approaching the Supreme Court, which decided on the matter in February.Mails sent to Deloitte didn't elicit a response, while Ericsson declined to comment.Ericsson petitioned for RCom's bankruptcy in September 2017 over non-payment of dues worth over Rs 1,500 crore. The bankruptcy court admitted the petition but, under RCom's appeal, the National Company Law Appellate Tribunal stayed the insolvency order and a settlement with Ericsson was chalked out.
MUMBAI: Despite measures by the finance ministry to ease the customer onboarding process, or KYC (know your customer), for both banks and non-banking finance companies, lenders say the recent policy action may not lower their physical verification costs, especially for rural customers.Finance minister Nirmala Sitharaman announced a slew of relief measures for the economy on Friday, which included allowing NBFCs to directly onboard those customers whose credentials have already been vetted by banks from the UIDAI maintained Aadhaar database.Industry experts, however, said that, in the absence of an RBI approved mechanism for banks to share these KYC details with nonbanks, the process may be restricted to those loan accounts that are opened jointly by a bank and NBFC under the co-lending model."This kind of arrangement can only work where banks and NBFCs are co-lending," said Anurag Jain, founding member Digital Lenders Association of India (DLAI) and cofounder of KredX. Under the colending model, an NBFC and bank tie up to open loan accounts with pre-decided exposures.The government and the RBI are pushing banks to open more loans under the co-lending model as it would help NBFCs access bank credit and use their underwriting model to disburse niche loans such as microcredit to rural customers."The impact may have been more if they had allowed NBFCs to authenticate their own customers via Aadhaar without having to depend on banks. We will wait for the final clarifications, which will be issued by RBI, on the exact mechanism under which the process would work," Jain said.After a Supreme Court order in September last year, only regulated banks, telecom operators and now mutual funds have been permitted to use Aadhaar as a non-binding tool to authenticate customers. This was done to protect customer privacy. "Another way would be for the loan amount disbursed by the NBFC to directly get credited in the KYC-authenticated bank accounts of the customers," said Amit Tewary, Chief Operating Officer, Loan-Tap, a fintech NBFC. 70834817 The finance minister's announcement came just days after the Department of Revenue made amendments to the Prevention of Money Laundering Act (PMLA), which will make the KYC process completely paperless.All financial institutions can accept digital copies of original documents instead storing photocopies. The verification of original documents, however, will require an "authorising agent" to capture a live photograph of the customer and then record the latitude and longitude of where the process happened."These changes are to standardise the digital onboarding process for the entire industry and make the process paperless," said a private sector banker, requesting anonymity."While it may reduce the costs of documentation…it still requires a bank agent to undertake the process at the live location, which may prove costly for lenders with digital platforms operating without physical infrastructure on the ground."
MUMBAI | NEW DELHI: Hygiene product makers said they will have to stop pushing premium value-added products and innovations within segments such as sanitary napkins, hand washes, disinfectants and adult diapers if the government puts a cap on their prices.A list of essential hygiene products is reportedly being finalised and these categories could come under price control. Companies say premium items that are costly to manufacture compared with basic versions are still being sold at lower margins unlike pharmaceutical companies that use similar technology and raw materials but have different pricing. Therefore, the analogy doesn't hold for hygiene products, they argue."For advertising spends, new launches and even innovation, we need profitability," said a senior executive at a multinational consumer goods company. "The margin for us and trade is not very high since they are nascent categories and we are focussing on increasing usage by squeezing margins already. Also, it is still not clear whether all price points will be covered."Companies say using cheaper raw materials to maintain pricing will translate into lower-quality products. In India, the sanitary napkin segment is controlled largely by three firms — Procter & Gamble, Unicharm and Johnson & Johnson. RB, which owns Dettol, has a significant chunk of the hygiene and liquid antiseptic market."If price regulation is notified as a blanket cap, RB could be one of the most impacted and lose its pricing power, since Dettol is their biggest brand in India," said a senior executive associated closely with the multinational. 70834729 Marketing Strategy May be Hit TooThe proposal comes months after RB introduced a high-margin, chemicals-free range of soaps and handwashes under the Dettol flagship brand, about 10-20% more expensive than the base brand. The India arm of the UK healthcare and consumer products maker rolled out the range in June.India is a top-five market for Dettol and has over 10% value share in bar soaps; in the smaller, handwash category it has 45-50% share. "Price regulation could impact marketing strategy too, since RB is a top advertiser," said the person cited above. "Dettol has also been the face of the company's Rs 100-crore Banega Swachh India campaign for five years now."P&G declined to comment. RB, Hindustan Unilever and ITC didn't respond to queries. HUL sells Lifebuoy, while ITC sells Savlon, which has a small presence in the segment.While the government is revisiting the National List of Essential Medicines (NLEM) to make relevant additions and omissions, it's also preparing separate lists for medical devices, disposables and hygiene products.The Times of India reported on August 25. It currently regulates prices of about 384 essential medicines, including medical devices such as stents, by imposing a cap on their maximum retail price. Drugs companies are allowed to raise prices by up to 10% annually for their products. There is also a cap of 30% on trade margins for 42 cancer drugs."Prices of adult diapers or feminine hygiene in India are among the lowest in the world. And there is no question of making super-profit in an open market. However, we feel the government must be referring to products and prices that consumers have to pay at institutions and hospitals, where such products can be classified as essentials," said Kamal Johari, founder of Nobel Hygiene, which is a leader in the adult diaper category with their brand, Friends. "Patients end up paying more due to monopoly of these hospitals which dictate prices by marking them up several times over retail prices."Lower prices typically lead to a rise in sales but not necessarily in discretionary segments. About six years ago, the government included condoms in the list of essential medicines and fixed their ceiling price in the Drug Pricing Control Order (DPCO). This in turn led to sales of the contraceptive declining a year ago for the first time as companies lowered marketing spends and halted innovations.In 2017, the National Pharmaceutical Pricing Authority (NPPA), an expert committee set up by India's drug pricing regulator, decided that prices for prophylactics will be fixed in two broad categories--ordinary condoms and those with special features.
UBS's deputy head of global macro strategy Bhanu Baweja is unwilling to change his underweight stance on Indian equities after the announcements made by finance minister Nirmala Sitharaman on Friday to withdraw the surcharge on FPIs and taking steps to boost liquidity in the system. In an interview with Sanam Mirchandani, London-based Baweja said fixed income is a better asset class in India than equities from a three-to-six month perspective. Edited excerpts:What is your reading of the underperformance of Indian markets vis-a-vis EMs this year? In addition to the weakness of global trade, weakness of global investment, uncompetitive currency, India now has this additional problem that consumption growth is not picking up aggressively because the savings rate has fallen. This decline in savings isn't because people are aggressively buying real estate or other durables amidst higher incomes. It is because income generation and job generation itself has been weak. Market correction may have coincided with the budget, but the fundamentals have been poor for some time. Medium-term earnings expectations remain high despite weakening rural incomes. Valuations are still quite high, and that's why within the global EM context we are actually underweight Indian equities and overweight Indian bonds. Fixed income is a much better asset class in India than equities from a three-to-six month perspective.What is your assessment of the finance minister's announcement on removing the tax surcharges and moves to improve liquidity? These announcements will not change my mind about India. These taxes were not the reason we were underweight Indian equities relative to emerging markets.What is your outlook for EMs in the wake of trade war situation and slowdown in global growth?Given that the trade war is likely not going away anytime soon, the chances are that it begins to encompass geopolitical issues rather than purely tariffs on imports. The risks for emerging markets are quite high. But the challenges are not limited to the US-China relationship. One of the biggest events of the last 18 months is actually not the trade war but the fact that the nature of China's growth is changing very quickly; it is becoming much more domestically driven. Chinese growth is not just falling, its import intensity is declining very quickly. This is happening independent of the trade war and not many market participants don't realise this. This is happening because both because China is not adding a huge amount of liquidity — at this point it does not seem to be interested in creating another credit bubble, but also because the nature of this limited stimulus is very different from 2016; it is not being directed to import intense housing market, but to the much more domestic consumption and services sectors. As these do well, there is little incremental benefit to other emerging markets, Europe or Australia etc.What are the chances of a global recession in 2020?We are not far from a global recession right now and certainly very close to a European recession. The weakness is concentrated in investment and trade; domestic demand seems to be strong everywhere barring China. If the trade war was to continue to escalate from here, I don't think anybody should be surprised with us going into a short global recession. This will not at all be the same kind of recession seen in 2008 in that this is not expected to be a balance sheet recession, where the weakness in growth hits the financial system, which then creates a second round hit on growth. Tariffs are more likely to create a short, one-time hit like supply shock. We are not there yet, but if the trade war continues to escalate, global growth may slip below 2.5%, which would be consistent with what has historically been termed a global recession.The Fed has dashed hopes of a lengthy rate cut cycle. How many rate cuts do you expect from the Fed in 2019?They were right to dash that because the market was getting ahead of itself. Since the last Fed meeting on July 31, we have seen a new escalation in trade war. We now expect 75 basis points further rate cuts from here till the end of the cycle, 25 bps of which are going to be in September, with a further 50bps in cuts likely to be seen till June 2020. Interest rate forwards suggest market is pricing in a much more aggressive easing cycle, both in terms of magnitude of cuts and speed of cuts. The Fed is likely to be a little more conservative in cutting rates than the market is pricing in.Is the rupee overvalued at current levels?Yes, I do think the rupee is overvalued. If you look at the current account excluding gold and oil, it is as bad as it was in 2015. The bulk of the external improvement has come from variables which are not directly related to competitiveness. One decent way of looking at competitiveness is export volume growth and that has been very poor for India. As inflation is so well contained, I don't think the central bank will have major issues or would be worried about the rupee correcting modestly. The fact that they have accumulated reserves considerably over the last 18-24 months also allows them to keep the rupee volatility in check. But there is no doubt in my mind that the rupee is an overvalued currency that needs to correct.
By Sacchitanand UttekarDvp – Technical (Equity), Tradebulls SecuritiesWhere we are: Indices are placed at the cusp of a make or break reversal zone as despite slipping below its key long term support average the index managed to close near its 20 bar EMA on its monthly scale. The week gone by witnessed sustained selling pressure as the index tanked by 510 points from its swing high of 11,146 but saw a strong comeback of nearly 200 points with most key sectoral indices reporting reversal formations on the daily scale. Weakening rupee against dollar has been a key detriment throughout the week as it reported a gain of nearly 1 per cent by scaling towards 72 mark.What is in store: The reversal formation once confirmed with a move above 10,910 would see a strong recovery towards 11,200-11,244 congestion zone quickly where its highest CE OI and 200 DEMA is placed. With expiry just around the corner and probable short covering rally could be triggered if the level of 10,910 is breached in the early part of the week while any slippages below 10,630 would lead to further drag on the indices towards 10,520. What you could do: Amid the highly volatile environment, investors should maintain their focus on quality stocks which have been bucking the trend in the last few months and avoid bottom fishing desires in stocks which have still not been able to recoup their weekly swing/short-term highs yet. Stocks where there are signs of sustained strength or developing strength are as below which could be considered for fresh investments are Asian Paints, Apollo Hospitals, Bata India, BEL, Berger Paints, Havells, HUL, Hero MotoCorp, Infosys, NIIT Tech, TCS, Reliance Industries, Voltas.
BENGALURU: Digital rights organisation Internet Freedom Foundation (IFF) filed an independent expert submission by an IIT-Bombay Professor Manoj Prabhakaran in the Madras High Court against IIT-Madras Professor Veezhinathan Kamakoti's suggestions on introducing traceability on WhatsApp.Prabhakaran submission highlighted the risks and long term ineffectiveness of Kamakoti's proposal to introduce traceability on encrypted platforms. He said Kamakoti's suggestions were vulnerable to falsification and tweaking encryption through backdoor will undermine user privacy and security. In July, Kamakoti suggested two ways to identify the originator of messages on WhatsApp to help law enforcement agencies in India catch perpetrators of misinformation and rumours. IFF said accepting Kamakoti's suggestion will a grave impact on whistleblowers, journalists, activists, and others who can face violence if their identity is exposed.The submissions are part of the ongoing hearing in the Madras High Court regarding a PIL which originally sought to link social media accounts of users to their Aadhaar number. On Wednesday, Madras High Court clarified that it was no longer considering the original prayer to link Aadhaar with social media accounts, and instead, its focus was now on improving coordination between law enforcement agencies and social media companies. IFF urged the Court to refrain from venturing into highly complex and technical decisions regarding the change of the design of an encrypted platform like WhatsApp. It said such decisions should only be taken after a deliberative policy formation process involving experts and stakeholders.
NEW DELHI: Ankur Warikoo is the CEO of Nearbuy.com but most people know him for his catchy 30 to 60-second motivational videos on LinkedIn. Despite an academic background in science and management, Warikoo, 38, surprisingly, chooses to share his two-bits on more emotional topics such as 'how to stop feeling bad' which has helped him amass more than 6.5 lakh followers on this networking site for professionals. Last year, he was named one of the top 25 influential voices on LinkedIn.Though LinkedIn predates Facebook and Instagram, it's often overshadowed by its younger counterparts. But that could be changing as it morphs into more than a jobs site. Recently, The New York Times wrote an article headlined 'Why Aren't We Talking About LinkedIn', pointing out that it had 645 million followers and posted twice as much revenue as Twitter last year. Of course, a key difference is that its influencers are not posting videos and glossy photos about the high life. Instead, they're mature business leaders telling you how to kick ass at work. For example, which books to read, courses to take, hacks to get funding for your startup or how to ask for a raise.Adith Charlie, managing editor at LinkedIn, India says influencers on their platform are trying to demonstrate their thought leadership. "They typically stay away from sharing personal updates, which may be the case with influencers on other social media platforms," he says.LinkedIn user Parshwati Saha prefers to follow its influencers because the conversations are nuanced, arguments well-researched and there's little to no trolling in comments sections. "They are serious. Nobody is silly on LinkedIn or venting out in frustration," says Saha, 38, a corporate communications professional in Delhi who follows Warikoo. Besides hate-spewing trolls, one is also spared fake news and monetised content, though not the boasting and bragging. 70825589 Communications consultant Karthik Srinivasan says of all the social media platforms he is active on, the most purposeful conversations are on LinkedIn. "Despite all the snide jokes about 'I'd like to add you to my professional network on LinkedIn', it's the dark horse of social networking because it is mostly filled with real people with real profiles," says Srinivasan, who has 39,000 followers and enjoys the LinkedIn Power Profile status (earned on the basis of the number of people who voluntarily visit a profile). In fact, his book, 'Be Social: Building Your Brand Online', gives tips on how to use LinkedIn effectively. For example, who should you connect with, how to decide if an invite is worth accepting or not.While powerful CEOs, politicians, actors do notch up lakhs of followers due to their offline heft, there are other not-so-high profile people who manage an impressive, if not huge, following.Early stage venture capitalist Aviral Bhatnagar is an example of this type of an influencer. He has 55,000 followers which include self-made CEOs, CTOs, founders and VPs who engage in healthy discussions. For example, recently Bhatnagar set off a debate on career safety nets by posting snippets of a conversation between some senior IIT graduates. They were discussing how the IIT stamp gave them the confidence and courage to take difficult career decisions because if everything else failed, an IIT degree was still there for them to fall back on. The post got more than 3,700 views and 128 comments in five days.Dr Aniruddha Malpani, a doctor and an angel investor, has 1.9 lakh followers who come mainly to learn how an investor's mind works. He shares tips like how entrepreneurs should avoid sending generic 'Dear Sir, Can you please fund me?' emails to investors and instead learn more about the investor and customise their pitch.And he doesn't shy from chastising dreamy entrepreneurs with a post like, "A good idea that can't be executed without external funding is often a bad idea!" The post got several reactions from founders/CEOs who passionately disagreed and debated this point."I am trying to bridge the gap between entrepreneurs and investors because there are so many myths and misconceptions which have stunted the growth of the startup ecosystem in India. I think people follow me because they can see I am being honest, and don't mince words," says Malpani, who has funded entrepreneurs who first reached out to him on LinkedIn, such as Anuradha Agarwal, the founder of Multibhashi, a language learning digital platform.The influencers too benefit from engaging with other professionals. Besides doing all his hiring through the site, Warikoo says it has helped him create branding and publicity for his company without much dependence on media.Srinivasan, who quit full-time employment last year to be a consultant, says that most of his work comes from LinkedIn. "Some people have literally said that they read my post and asked me if I can conduct a workshop at their organisation or consult with them for their content strategy," says Srinivasan.
Mumbai: Groundwater recharge pit to be mandatory for housing societies Many housing societies in the city use groundwater as an alternate source to fulfil their daily requirements, hence having groundwater recharge pit becomes an extremely important step
Pizza, pasta and architecture of CADs Architect has become akin to that of a fashion designer today as his/her success depends more and more on how he/she can be different in look-and-feel than the flavour of the last season
Post rains AQI improves to 'good' in Delhi The India Meteorological Department (IMD) says in a press release that the maximum temperature in Delhi was 33.9 degrees Celsius
Maharashtra sets up council to promote investments The surge in investment, the government believes, will help achieve the $1 trillion economy target by 2025 from the present level of $475 billion
Heavy rainfall ends spectre of drought in nine Rajasthan districts It is reported that many of the dams in the state which either had no water or very little levels are now almost full to the brim
Narcotics cell wants more coordination among state units The anti-drug trafficking federal agency has decided to deploy addition manpower across the states, especially those which shares international border with Pakistan, to stop trafficking of drugs in the India
Maharashtra: Tigress dies of poisoning, wild boar carcass found nearby The poisoning could be intentional or unintentional, says a senior forest official
Arun Jaitley's final journey: Nation mourns, tributes continue to pour in The leaders from Opposition parties were also friends with him. He left an impression even on senior leaders like JP Narayan, says Murli Manohar Joshi
Free Mother India of plastic: PM Narendra Modi In his monthly radio address, Prime Minister says a new revolution against plastic must start from Oct 2
Jharkhand: 'Panchayat' strips woman nude after she was abused by nephew The 'panchayat' at Dengidoh village in Jharkhand's Koderma district held the woman guilty, though she is the alleged victim
