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Maldives leader celebrates victory in parliamentary election

Maldives President Ibrahim Mohamed Solih's party is leading in the vote count in the parliamentary election and has already declared a landslide victory that could give him a free hand in efforts to restore political freedoms and tackle corruption.

The official results are expected late Sunday. Local reports say Solih's Maldivian Democratic Party is leading at 60 out of the 87 seats in Parliament.

This could be the first time that a single party has won the majority in Parliament since the Indian Ocean archipelago nation became a multiparty democracy in 2008 after decades of autocratic rule.

More than 264,000 people were eligible to vote for 386 candidates running for the 87 seats. Voter turnout in Saturday's election was over 78 percent.

Source: Fox News World

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Removal of fuel in pool at Fukushima’s melted reactor begins

The operator of the wrecked Fukushima nuclear plant for the first time is removing fuel from a cooling pool at one of three reactors that melted down in the 2011 disaster, a milestone in the decades-long process to decommission the plant.

Tokyo Electric Power Co. said Monday workers started removing the first of 566 fuel units stored in the pool at Unit 3. The fuel units in the pool are not enclosed and their removal to safer ground is crucial to avoid disaster in case of another major quake.

TEPCO says the removal at Unit 3 would take two years, followed by the two other reactors.

The step comes ahead of the real challenge of removing melted fuel from inside the reactors, but details are largely unknown.

Source: Fox News World

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Euro still in favor, but downside risks prevail: Reuters poll

FILE PHOTO: An employee counts Euro bills at a money exchange office in central Cairo
FILE PHOTO: An employee counts Euro bills at a money exchange office in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany

April 5, 2019

By Hari Kishan and Shrutee Sarkar

BENGALURU (Reuters) – The euro will rebound from its worst start to a year since 2015 to gain over the coming 12 months, according to a Reuters poll of analysts, although they warned that risks to that view were skewed to the downside.

Having lost nearly 4.5 percent against the dollar in 2018, the euro has not fared any better so far this year, falling more than 2 percent in January-March — its worst first-quarter performance in four years.

That was mostly driven by weak growth and inflation prospects for the region, which pushed the European Central Bank to rule out any rate hikes this year and announce new long-term cheap loans, known as TLTROs.

But the poll of more than 75 currency analysts taken this week showed the euro will reverse that trend and gain about 5 percent in a year, to $1.18 from around $1.12 on Thursday.

The single currency began to rise at the start of April on news that talks on trade between the United States and China appeared to be making headway.

“While Europe remains impacted by external trade concerns, assuming an easing in China-U.S. trade tensions into H2 and a resulting turn in external data, we look for a stronger medium-run euro profile,” said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets.

“The introduction of fresh TLTROs helps to alleviate a potential cliff in funding costs for euro zone banks, while increased fiscal stimulus will also be supportive for the euro.”

Economic data out of the euro zone in recent weeks has given few reasons to be optimistic, but the U.S. economy is also experiencing a slowdown, which has forced the Federal Reserve to make a U-turn on policy.

The Fed’s “dot plot” projections now suggest no hikes in 2019 compared with two predicted in December, with economists in a separate Reuters poll ruling out any tightening next year too.

“We don’t expect the ECB to be dynamic when it comes to interest rate hikes. But we see an end to interest rate hikes in the U.S., so the momentum will turn sometime in the future … in favor of the euro,” said Dekabank economist Christian Melzer.

This survey marks the 20th consecutive poll in which analysts have predicted the euro will gain over the 12-month forecast horizon, but during that period it has lost close to 5 percent against the dollar.

The latest consensus was the lowest since a poll in September 2017 and the range of forecasts showed lower lows for the single currency for the second survey in a row.

Over 65 percent of analysts who answered an extra question said the risk to their euro forecasts for the coming year was skewed more to the downside.

“There may be a little bit more downside to go on the euro to reflect the weakness of the euro zone economy, the impact of political uncertainty also the more dovish bias of the ECB,” said Jane Foley, head of FX strategy at Rabobank.

However, analysts were less clear about the dollar.

Respondents were split right down the middle when asked if the risk to their dollar forecasts was skewed more to the upside or downside.

“There’s nothing like as much gloom, yet, about the U.S. as there is about Europe, so no wonder the euro is anchored firmly to the bottom of its trading range,” said Kit Juckes, global head of FX strategy at Societe Generale.

“If you’re a U.S. economic pessimist who wants to be a dollar bear, my best recommendation is that you go back into hibernation for a little longer!”

Although most major economies are expected to experience a protracted economic slowdown, the United States is likely to be relatively stable, which should keep the dollar in play.

“We are in the battle of uglies now when it comes to fundamentals and the dollar is probably just the least ugly.” said Rabobank’s Foley.

(Polling by Indradip Ghosh and Mumal Rathore; Editing by Catherine Evans)

Source: OANN

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China orders banks to boost financial support to small firms

A 100 Yuan note is seen in this illustration picture in Beijing
A 100 Yuan note is seen in this illustration picture in Beijing March 7, 2011. REUTERS/David Gray/File Photo

March 13, 2019

BEIJING (Reuters) – China’s banking and insurance regulator on Wednesday urged banks to continue increasing lending to smaller firms and further cut their financing costs, as policymakers work to avert an economic slowdown.

Banks should work hard to achieve targets on increasing loans for small companies and keep the lending rates on a reasonable level, the China Banking and Insurance Regulatory Commission (CBIRC) said in a statement on its website.

Big state-owned commercial banks should increase outstanding loans to smaller companies by more than 30 percent in 2019, the CBIRC said, adding that it would also increase its tolerance for non-performing loans at small companies.

The regulator reiterated its demands for state-owned banks to target faster growth in loans to small businesses as economic growth slowed to its weakest in nearly three decades in 2018.

Chinese banks have been wary of lending to smaller firms with higher credit risks, preferring state-backed customers. But authorities have been urging lenders to help keep cash-strapped private firms afloat, sparking concerns that looser lending standards will expose banks to more bad loans.

China’s central bank chief said on Sunday that lending rates for small firms were still relatively elevated due to high risk premiums and that the country will push ahead with interest rate reforms to resolve the issue.

Commercial banks are also encouraged to issue special financial bonds, and ensure that proceeds raised are used for loans to small and micro firms.

The regulator also said it would support insurers to provide credit-boosting support for smaller firms if the risks are manageable.

Insurance companies are encouraged to invest in financial products including securitisation products backed by loans to smaller firms to ensure more flexible support for those companies.

(Reporting by Lusha Zhang and Se Young Lee; Editing by Jacqueline Wong)

Source: OANN

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French senators: Macron security affected by ex-aide's acts

French senators say they think French President Emmanuel Macron's security has been affected by the conduct and actions of an ex-aide at the center of a political scandal.

A Senate commission released a report Wednesday about the former security aide, Alexandre Benalla. He was fired in August after a video surfaced of him beating a protester at a May Day demonstrator last year.

Philippe Bas, president of the Senate Laws Commission, said the panel found elements showing "there have been numerous errors, irregularities and missteps" before and after Benalla was fired from the presidential Elysee Palace.

Paris prosecutors opened an investigation last week of whether Benalla told lies during the investigation.

Benalla was jailed on Tuesday night for allegedly not respecting the conditions of his judicial supervision.

Source: Fox News World

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Watch: Alyssa Milano Comes Out as Trans, Disabled, Person of Color

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Yemeni tribesmen: 22 civilians killed in country's north

Local tribesmen say airstrikes by the Saudi-led coalition fighting Yemen's Houthi rebels have killed 22 people, including children, in the country's north.

The Health Ministry affiliated with the Houthis confirmed the deaths on Monday, saying that all those killed were from two families from the Maghrabet Talan district in Hajjah province.

The tribesmen spoke on condition of anonymity for fear of reprisals.

For almost two months, the Houthis have been besieging and shelling the mountainous area of Kusher to suppress a rebellion there by the Hajor tribes. Scores of civilians have been killed and wounded.

Yemen has since March 2015 been embroiled in a civil war pitting the Iran-backed Houthis against a Saudi-led coalition fighting alongside the exiled internationally recognized government.

Source: Fox News World

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A California man who allegedly fatally shot his ex-girlfriend in broad daylight last month before fleeing the country has been returned to the U.S. following his arrest in Mexico on Wednesday, authorities said.

Julio Cesar Rocha, 25, of Montlcair, is accused of shooting his 25-year-old ex-girlfriend Thalia Flores and a second unidentified male victim March 21 around 2:45 p.m. while the two were sitting in a vehicle in the parking lot of a discount store in Chino. Both communities are about 36 miles east of Los Angeles.

ARREST MADE IN DOUBLE HOMICIDE OF EX-PRO HOCKEY PLAYER, COMMUNITY ADVOCATE, POLICE SAY

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores.

Julio Cesar Rocha, 25, of Montlcair, Calif. was located in Mexico Wednesday and returned to California where he faces murder and attempted murder charges related to the death of his ex-girlfriend, Thalia Flores. (City of Chino Police Department)

Flores died at the scene. The man, whose name was not released, walked to a nearby hospital where he’s recovering from his gunshot wounds.

Rocha allegedly fled the scene and remained at large for more than a month, the Daily Bulletin reported. He was formally arrested at 4:30 p.m. after arriving at Los Angeles International Airport from Mexico, KTLA-TV reported.

The suspect was booked at the West Valley Detention Center in Rancho Cucamonga on murder and attempted murder charges, the City of Chino Police Department said on Facebook.

Flores ended her seven-year relationship with Rocha just two months before her death and still lived in fear of him until that point, a sister of the victim, Bernice Flores, told the Daily Bulletin.

“He said himself so many times to other people, ‘If I can’t have her, no one will.’ ” Flores said, adding that her sister stayed in the relationship longer that she would have liked in fear that Rocha would hurt her or her family if they broke up.

Rocha was convicted on misdemeanor battery in 2016 and sentenced to 60 days in prison. He was originally charged with misdemeanor assault with a deadly weapon, but the charges were lowered in a plea deal, the Daily Bulletin reported.

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Rocha was convicted of misdemeanor resisting or obstructing a peace officer in 2014. A second charge of misdemeanor battery was dropped in a plea deal, and Rocha was ordered to complete a 26-week anger management course, according to San Bernardino County Superior Court records. Rocha was later arrested and sentenced to 10 days behind bars for failing to complete the course.

Source: Fox News National

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Multiple people died Thursday when a semitrailer plowed into stationary traffic that resulted in explosions and flames on a Colorado freeway, authorities said.

The incident occurred just before 5 p.m. in the Denver suburb of Lakewood when a truck driver lost control while traveling east on Interstate 70, according to a preliminary investigation. The collision started a chain reaction and a diesel fuel spill, Lakewood police spokesman Ty Countryman told the Denver Post.

“This is looking to be one of the worst accidents we’ve had here in Lakewood,” he said.

The driver of the runaway truck survived. At least one truck was carrying lumber, another was hauling gravel and the third may have been carrying mattresses, KDVR-TV reported.

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Lakewood police tweeted there were multiple fatalities but did not give a specific number. Six people were taken to a hospital. Their conditions were not released, according to the paper.

Lanes in both directions were closed and expected to remain so into Friday morning.

Source: Fox News National

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President Trump will address members and leaders of the National Rifle Association on Friday at the group’s annual convention in Indiana.

Around 80,000 gun enthusiasts and more than 800 exhibitors are expected to pack the Indiana Convention Center in Indianapolis for the three-day event, the Indianapolis Star reported. It will mark the third straight year that Trump will deliver the keynote address, where he is expected to champion the rights of gun owners.

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes,” Chris Cox, executive director of the NRA’s Institute for Legislative Action (ILA), said in a statement. “President Trump’s Supreme Court appointments ensure that the Second Amendment will be respected for generations to come. Our members are excited to hear him speak and thank him for his support for our Right to Keep and Bear Arms.”

“Donald Trump is the most enthusiastic supporter of the Second Amendment to occupy the Oval Office in our lifetimes.”

— Chris Cox, executive director, NRA’s Institute for Legislative Action

COLORADO ENACTS ‘RED FLAG’ LAW TO SEIZE GUNS FROM THOSE DEEMED DANGEROUS, PROMPTING BACKLASH

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

President Donald Trump speaks at the National Rifle Association annual convention in Dallas last year. (Associated Press)

Trump and Vice President Mike Pence spoke at last year’s convention in Dallas. During his speech, Trump assured gun owners that he would protect their Second Amendment rights, according to the paper.

“Your Second Amendment rights are under siege,” Trump told the cheering audience in Dallas. “But they will never, ever be under siege as long as I am your president.”

Trump has supported some gun control measures in the past. Last year, his administration imposed a ban on bump stocks, attachments that enable semiautomatic rifles to fire in rapid bursts. Although, he most recently threatened to veto two Democratic gun control bills.

This year’s convention comes as the NRA faces outside pressure and internal problems. The group has seen its legislative agenda stall amid a series of mass shootings — including a massacre at a Parkland, Fla., high school in February 2018 that left 17 dead and launched a youth movement against gun violence.

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It’s also grappling with infighting in its ranks, money problems and investigations into whether Russian agents courted officials and funneled money through the group.

“I’ve never seen the NRA this vulnerable,” said John Feinblatt, president of Everytown for Gun Safety, a nonprofit that advocates for gun control measure.

The convention will run through the weekend and conclude Sunday.

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson

April 26, 2019

(Reuters) – Ailing British retailer Debenhams said two proposed company voluntary arrangements (CVA) could see all its stores remaining open during 2019, with 22 closures planned for next year, putting about 1,200 jobs at risk.

Debenhams’ lenders took control of the retailer earlier this month in a process designed to keep its shops open at the expense of shareholders.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier)

Source: OANN

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FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London
FILE PHOTO: Xiaomi branding is seen on a carrier bag at a UK launch event in London, Britain, November 8, 2018. REUTERS/Toby Melville

April 26, 2019

BENGALURU (Reuters) – Chinese brands controlled a record 66 percent of Indian smartphone market in the first quarter, led by Xiaomi Corp, a report showed, with volumes rising 20 percent on the back of popularity for brands like Vivo, RealMe and Oppo.

Xiaomi’s India shipments fell by 2 percent over last year, but the Beijing-based company was still the biggest smartphone brand in the country, followed by Samsung Electronics Co Ltd, according to Hong-Kong based Counterpoint Research.

Shipment volumes for Vivo jumped 119 percent, while those of Oppo rose 28 percent.

“Vivo’s expanding portfolio in the mid-tier range ($100 to $180) drove its growth along with aggressive Indian Premier League cricket campaign,” Counterpoint analysts said.

India is the world’s fastest growing market for smartphones, where affordable pricing coupled with features like “selfie” cameras and big screens have popularized Chinese brands.

Video streaming services like Netflix Inc and Hotstar, as well as heavy usage of messaging apps like Facebook Inc’s WhatsApp have further spurred demand.

“Data consumption is on the rise and users are upgrading their phones faster as compared to other regions,” Counterpoint’s Tarun Pathak said.

“As a result of this, the premium specs are now diffusing faster into the mid-tier price brands. We estimate this trend to continue leading to a competitive mid-tier segment in coming quarters.”

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Source: OANN

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