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China central bank announces bill swaps to support bank perpetual issuance

Headquarters of the PBOC, the central bank, is pictured in Beijing
FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

February 20, 2019

SHANGHAI (Reuters) – China’s central bank said that it would implement 1-year central bank bill swaps worth 1.5 billion yuan ($222.02 million) on Wednesday to improve the liquidity of banks’ perpetual bonds, and support issuance of the bonds to replenish capital.

The People’s Bank of China (PBOC) made the announcement in a statement on its website on Wednesday.

PBOC Vice Governor Pan Gongsheng said on Tuesday that China would provide further support for banks’ perpetual bond issuance, including examining ways to broaden the investor base for such bonds, to help boost lending in the economy.

(Reporting by Andrew Galbraith; Editing by Richard Borsuk)

Source: OANN

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Huawei leads Asian domination of U.N. patent applications in 2018

A Huawei company logo is seen outside a shopping mall in Shanghai
A Huawei company logo is seen outside a shopping mall in Shanghai, China March 7, 2019. REUTERS/Aly Song

March 18, 2019

GENEVA (Reuters) – Chinese telecoms giant Huawei led the pack with Asia accounting for more than half of the international patent applications at the World Intellectual Property Organization (WIPO) last year, WIPO said on Tuesday.

Huawei, which has been under pressure since the United States demanded its allies bar Chinese vendors from participating in building 5G networks due to national security concerns, made 5,405 patent applications to the U.N. body, up from 4,024 in 2017.

“It’s an all-time record by anyone,” WIPO director general Francis Gurry told a news conference.

WIPO oversees international treaties governing patents, trademarks and industrial designs. Its annual report on the applications it receives – a subset of all intellectual property filings globally – gives an early snapshot of the trends.

Asia-based filings accounted for 50.5 percent of the total applications received, Gurry said.

“Historically, this is really quite extraordinary,” he said. “Historically, this is a momentous occasion, this is something that is really a very, very significant result.”

The second-biggest user of the WIPO international patent system in 2018 was Mitsubishi Electric with 2,812 filings, followed by Intel with 2,499.

Although inventors in the United States filed more applications than in any other country, China looks set to take the top place this year or next, after a meteoric rise over the past quarter century.

Having filed only one patent application in the WIPO system in 1993, its applications overtook Japan’s in 2017 and grew by a further 9.1 percent to 53,345 in 2018, while the number of U.S.-based filings slipped 0.9 percent to 56,142.

Asia accounted for six of the top eight companies, with China’s ZTE Corp and BOE Technology Group and South Korea’s Samsung Electronics and LG Electronics also among the leaders.

China also jumped up the academic rankings, with four of its universities making the top ten list for the first time.

While the University of California remained well ahead among educational institutions, with 501 patent applications in 2018, and Massachusetts Institute of Technology was second, Shenzhen University and South China University of Technology leapt into third and fourth spot, just ahead of Harvard.

Gurry said Chinese universities benefited from an extremely strong emphasis on innovation and the commercialization of basic research, as well as access to the world’s second largest national pool of research and development spending.

He said China had introduced an equivalent of the U.S. Bayh-Dole Act, ensuring that patents taken out on government-sponsored research were being used, which may have had an influence on Chinese universities’ attitude towards commercializing their research.

The WIPO report represents applications for patents, trademarks and designs that their owners feel are valuable enough to protect and promote in overseas markets. Another WIPO report, released in December includes millions of applications for IP protection that are never filed overseas.

(Reporting by Tom Miles; Editing by Kirsten Donovan)

Source: OANN

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Air Force says it needs $4.9 billion in disaster relief

The Air Force says it will need nearly $5 billion over the next two years to rebuild a Florida base heavily damaged by Hurricane Michael last fall and repair a base in Nebraska struck by flooding this month.

The estimate was disclosed Wednesday by Air Force Secretary Heather Wilson.

The money would have to be approved by Congress. It would be for disaster relief at Tyndall Air Force Base in Florida and Offutt Air Force Base in Nebraska.

In a statement, Wilson said the Air Force "desperately" needs $1.2 billion in extra funds this year and $3.7 billion extra in the 2020 and 2021 budgets.

The Air Force said that without that money, it will make other cuts that risk undercutting Air Force readiness for combat operations.

Source: Fox News National

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Trump Transition Staffer: Time for Impeachment Proceedings

J.W. Verret, who served as deputy director of economic policy for the Donald Trump pre-transition team, said it is time to start impeachment proceedings.

Verret, a professor of law at George Mason University, made his comments in a column posted by The Atlantic. He worked on the Trump team from Aug.-Oct. 2016.

“I wanted to share my experience transitioning from Trump team member to pragmatist about Trump to advocate for his impeachment, because I think many other Republicans are starting a similar transition,” he said. “Politics is a team sport, and if you actively work within a political party, there is some expectation that you will follow orders and rally behind the leader, even when you disagree.

“There is a point, though, at which that expectation turns from a mix of loyalty and pragmatism into something more sinister, a blind devotion that serves to enable criminal conduct.”

He said the report by special counsel Robert Mueller was the tipping point for him.

“Depending on how you count, roughly a dozen separate instances of obstruction of justice are contained in the Mueller report,” he said.  “The president dangled pardons in front of witnesses to encourage them to lie to the special counsel, and directly ordered people to lie to throw the special counsel off the scent.

“This elaborate pattern of obstruction may have successfully impeded the Mueller investigation from uncovering a conspiracy to commit more serious crimes. At a minimum, there’s enough here to get the impeachment process started.”

Source: NewsMax Politics

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InfoWars Army Houston Triggers Liberal With “It’s Okay To Be White” Sign

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Source: InfoWars

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Uganda acquires 2 new jets, seeks to revive national airline

Uganda's government has taken delivery of two new passenger jets in a bid to revive the national carrier that collapsed years ago.

Uganda Airlines is set to begin operations in June. It will fly to regional destinations at first.

Fanfare marked the arrival on Tuesday of two jets from Canadian aerospace company Bombardier at the Entebbe International Airport. Two more Bombardier jets have been ordered, as well as two Airbus planes.

The old Uganda Airlines collapsed in 2001 amid alleged mismanagement. Ugandan President Yoweri Museveni is championing the revamped airline as a symbol of national pride, calling it "a new baby."

Authorities acknowledge challenges ahead but hope Uganda Airlines will survive as the East African nation becomes an oil producer.

Source: Fox News World

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Fordham University student falls climbing campus bell tower to take photos

A Fordham University student who climbed the campus' landmark bell tower Sunday to snap photos of the New York City skyline suffered critical injuries after she accidentally fell.

The 22-year-old senior was taking part in a 3 a.m. climb when she fell 40-feet and struck her head, the New York Post reported. Her condition was listed as critical at a hospital in the Bronx not far from the Fordham campus.

She was with other seniors when she fell through an opening on the first landing of the tower, the paper reported.

AUTHORITIES RECOVER BODY OF DEAD TOURIST WHO FELL INTO GRAND CANYON WHILE TAKING PHOTOS

Students said climbing the tower, touching the bell and taking photos of the sweeping views, were part of a senior-year “rite of passage,” according to the paper.

A 22-year-old Fordham University was crtically injured as she climbed the school's bell tower early Sunday with other students to snap photos.

A 22-year-old Fordham University was crtically injured as she climbed the school's bell tower early Sunday with other students to snap photos. (Fordham University)

“I heard they were just getting a better view of the city,” a senior told the paper. “I think they were posting on Instagram when it happened.”

Fordham parents reacted quickly to the news.

Freshman Grayson Brown, 19, told the Post his mother sent him a text Sunday that said “stay out of the bell tower!”

INSTAGRAM COUPLE DEFENDS 'STUPID' PHOTO ON EDGE OF INFINITY POOL

Recently, a visitor to the Grand Canyon fell to his death while taking a photo from a dangerous perch, according to reports.

Two months ago, it was reported that a Texas teen was lucky to be alive after surviving a fall in November from the top of a bridge he had climbed to take a selfie.

Last October, a new study by researchers in India found that more than 250 people worldwide have died while taking selfies in the last six years, The Washington Post reported.

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Some of those deaths were due to falls from heights.

Source: Fox News National

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Joe Biden’s brain surgeon said his former patient is “totally in the clear” as speculation over the candidate’s health — with Biden possibly becoming the oldest president in U.S. history — is likely to become a campaign issue.

The former vice president, who had been perceived by many as the strongest potential contender for the Democratic Party’s 2020 presidential nomination, formally announced his candidacy Thursday.

But Biden’s age – 76 – is expected to become a source of attacks from a younger generation of Democrats not because of obvious generational differences, but possibly for actual health concerns if Biden gets into office.

WHY THE MEDIA ARE CONVINCED JOE BIDEN WILL IMPLODE

Biden himself agreed last year that “it’s totally legitimate” for people to ask questions about his health if he decides to run for president, given his medical history — which has included brain surgery in 1988.

“I think they’re gonna judge me on my vitality,” Biden told “CBS This Morning.” “Can I still run up the steps of Air Force Two? Am I still in good shape? Am I – do I have all my faculties? Am I energetic? I think it’s totally legitimate people ask those questions.”

“I think they’re gonna judge me on my vitality. …  I think it’s totally legitimate [that] people ask those questions.”

— Joe Biden

But Dr. Neal Kassell, the neurosurgeon who operated on Biden for an aneurysm three decades ago, told the Washington Examiner that Biden appears to be “totally in the clear” — and even joked that the operation made Biden “better than how he was.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it,” Kassell said. “That’s more than I can say about all the other candidates or the incumbents.”

“Joe Biden of all of the politicians in Washington is the only one that I’m certain has a brain, because I have seen it.”

— Dr. Neal Kassell

BIDEN’S CLAIM HE DIDN’T WANT OBAMA TO ENDORSE TRIGGERS MOCKERY

At the same time, however, Biden hasn’t been forthcoming about his health at least since 2008 when he released his medical records as a vice presidential candidate. The disclosure that time revealed some fairly minor issues such as an irregular heartbeat in addition to detailing previous operations, including removing a benign polyp during a colonoscopy in 1996, the outlet reported.

It remains unclear if Biden had more aneurysms. Some medical experts say that people who have had an aneurysm can have another one.

An aneurysm, or a weakening of an artery wall, can lead to a rupture and internal bleeding, potentially placing a patient’s life in jeopardy.

Biden won’t be the only Democrat grappling with old age. Sen. Bernie Sanders, another 2020 frontrunner, is currently 77 years old and agreed with Biden last year that their ages will be an issue in the race.

“It’s part of a discussion, but it has to be part of an overall view of what somebody is and what somebody has accomplished,” Sanders told Politico.

“Look, you’ve got people who are 50 years of age who are not well, right? You’ve got people who are 90 years of age who are going to work every day, doing excellent work. And obviously, age is a factor. But it depends on the overall health and wellbeing of the individual.”

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Sanders released his medical records in 2016, with a Senate physician saying in a letter that the senator was “in overall very good health.”

Source: Fox News Politics

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Cambodian authorities have ordered a one-hour reduction in the length of school days because of concerns that students and teachers may fall ill from a prolonged heat wave.

Education Minister Hang Chuon Naron said in an announcement seen Friday that the shortened hours will remain in effect until the rainy season starts, which usually occurs in May. The current heat wave, in which temperatures are regularly reaching as high as 41 Celsius (106 Fahrenheit), is one of the longest in memory.

Most schools in Cambodia lack air conditioning, prompting concern that temperatures inside classrooms could rise to unhealthy levels.

School authorities were instructed to watch for symptoms of heat stroke and urge pupils to drink more water.

The new hours cut 30 minutes off the beginning of the school day and 30 minutes off the end.

School authorities instituted a similar measure in 2016.

Source: Fox News World

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Explosions have rocked Britain’s largest steel plant, injuring two people and shaking nearby homes.

South Wales Police say the incident at the Tata Steel plant in Port Talbot was reported at about 3:35 a.m. Friday (22:35 EDT Thursday). The explosions touched off small fires, which are under control. Two workers suffered minor injuries and all staff members have been accounted for.

Police say early indications are that the explosions were caused by a train used to carry molten metal into the plant. Tata Steel says its personnel are working with emergency services at the scene.

Local lawmaker Stephen Kinnock says the incident raises concerns about safety.

He tweeted: “It could have been a lot worse … @TataSteelEurope must conduct a full review, to improve safety.”

Source: Fox News World

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The Wider Image: China's start-ups go small in age of 'shoebox' satellites
LinkSpace’s reusable rocket RLV-T5, also known as NewLine Baby, is carried to a vacant plot of land for a test launch in Longkou, Shandong province, China, April 19, 2019. REUTERS/Jason Lee

April 26, 2019

By Ryan Woo

LONGKOU, China (Reuters) – During initial tests of their 8.1-metre (27-foot) tall reusable rocket, Chinese engineers from LinkSpace, a start-up led by China’s youngest space entrepreneur, used a Kevlar tether to ensure its safe return. Just in case.

But when the Beijing-based company’s prototype, called NewLine Baby, successfully took off and landed last week for the second time in two months, no tether was needed.

The 1.5-tonne rocket hovered 40 meters above the ground before descending back to its concrete launch pad after 30 seconds, to the relief of 26-year-old chief executive Hu Zhenyu and his engineers – one of whom cartwheeled his way to the launch pad in delight.

LinkSpace, one of China’s 15-plus private rocket manufacturers, sees these short hops as the first steps towards a new business model: sending tiny, inexpensive satellites into orbit at affordable prices.

Demand for these so-called nanosatellites – which weigh less than 10 kilograms (22 pounds) and are in some cases as small as a shoebox – is expected to explode in the next few years. And China’s rocket entrepreneurs reckon there is no better place to develop inexpensive launch vehicles than their home country.

“For suborbital clients, their focus will be on scientific research and some commercial uses. After entering orbit, the near-term focus (of clients) will certainly be on satellites,” Hu said.

In the near term, China envisions massive constellations of commercial satellites that can offer services ranging from high-speed internet for aircraft to tracking coal shipments. Universities conducting experiments and companies looking to offer remote-sensing and communication services are among the potential domestic customers for nanosatellites.

A handful of U.S. small-rocket companies are also developing launchers ahead of the expected boom. One of the biggest, Rocket Lab, has already put 25 satellites in orbit.

No private company in China has done that yet. Since October, two – LandSpace and OneSpace – have tried but failed, illustrating the difficulties facing space start-ups everywhere.

The Chinese companies are approaching inexpensive launches in different ways. Some, like OneSpace, are designing cheap, disposable boosters. LinkSpace’s Hu aspires to build reusable rockets that return to Earth after delivering their payload, much like the Falcon 9 rockets of Elon Musk’s SpaceX.

“If you’re a small company and you can only build a very, very small rocket because that’s all you have money for, then your profit margins are going to be narrower,” said Macro Caceres, analyst at U.S. aerospace consultancy Teal Group.

“But if you can take that small rocket and make it reusable, and you can launch it once a week, four times a month, 50 times a year, then with more volume, your profit increases,” Caceres added.

Eventually LinkSpace hopes to charge no more than 30 million yuan ($4.48 million) per launch, Hu told Reuters.

That is a fraction of the $25 million to $30 million needed for a launch on a Northrop Grumman Innovation Systems Pegasus, a commonly used small rocket. The Pegasus is launched from a high-flying aircraft and is not reusable.

(Click https://reut.rs/2UVBjKs to see a picture package of China’s rocket start-ups. Click https://tmsnrt.rs/2GIy9Bc for an interactive look at the nascent industry.)

NEED FOR CASH

LinkSpace plans to conduct suborbital launch tests using a bigger recoverable rocket in the first half of 2020, reaching altitudes of at least 100 kilometers, then an orbital launch in 2021, Hu told Reuters.

The company is in its third round of fundraising and wants to raise up to 100 million yuan, Hu said. It had secured tens of millions of yuan in previous rounds.

After a surge in fresh funding in 2018, firms like LinkSpace are pushing out prototypes, planning more tests and even proposing operational launches this year.

Last year, equity investment in China’s space start-ups reached 3.57 billion yuan ($533 million), a report by Beijing-based investor FutureAerospace shows, with a burst of financing in late 2018.

That accounted for about 18 percent of global space start-up investments in 2018, a historic high, according to Reuters calculations based on a global estimate by Space Angels. The New York-based venture capital firm said global space start-up investments totaled $2.97 billion last year.

“Costs for rocket companies are relatively high, but as to how much funding they need, be it in the hundreds of millions, or tens of millions, or even just a few million yuan, depends on the company’s stage of development,” said Niu Min, founder of FutureAerospace.

FutureAerospace has invested tens of millions of yuan in LandSpace, based in Beijing.

Like space-launch startups elsewhere in the world, the immediate challenge for Chinese entrepreneurs is developing a safe and reliable rocket.

Proven talent to develop such hardware can be found in China’s state research institutes or the military; the government directly supports private firms by allowing them to launch from military-controlled facilities.

But it’s still a high-risk business, and one unsuccessful launch might kill a company.

“The biggest problem facing all commercial space companies, especially early-stage entrepreneurs, is failure” of an attempted flight, Liang Jianjun, chief executive of rocket company Space Trek, told Reuters. That can affect financing, research, manufacturing and the team’s morale, he added.

Space Trek is planning its first suborbital launch by the end of June and an orbital launch next year, said Liang, who founded the company in late 2017 with three other former military technical officers.

Despite LandSpace’s failed Zhuque-1 orbital launch in October, the Beijing-based firm secured 300 million yuan in additional funding for the development of its Zhuque-2 rocket a month later.

In December, the company started operating China’s first private rocket production facility in Zhejiang province, in anticipation of large-scale manufacturing of its Zhuque-2, which it expects to unveil next year.

STATE COMPETITION

China’s state defense contractors are also trying to get into the low-cost market.

In December, the China Aerospace Science and Industry Corp (CASIC) successfully launched a low-orbit communication satellite, the first of 156 that CASIC aims to deploy by 2022 to provide more stable broadband connectivity to rural China and eventually developing countries.

The satellite, Hongyun-1, was launched on a rocket supplied by the China Aerospace Science and Technology Corp (CASC), the nation’s main space contractor.

In early April, the China Academy of Launch Vehicle Technology (CALVT), a subsidiary of CASC, completed engine tests for its Dragon, China’s first rocket meant solely for commercial use, clearing the path for a maiden flight before July.

The Dragon, much bigger than the rockets being developed by private firms, is designed to carry multiple commercial satellites.

At least 35 private Chinese companies are working to produce more satellites.

Spacety, a satellite maker based in southern Hunan province, plans to put 20 satellites in orbit this year, including its first for a foreign client, chief executive Yang Feng told Reuters.

The company has only launched 12 on state-produced rockets since the company started operating in early 2016.

“When it comes to rocket launches, what we care about would be cost, reliability and time,” Yang said.

(Reporting by Ryan Woo; Additional reporting by Beijing newsroom; Editing by Gerry Doyle)

Source: OANN

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At least one person is reported dead and homes have been destroyed by a powerful cyclone that struck northern Mozambique and continues to dump rain on the region, with the United Nations warning of “massive flooding.”

Cyclone Kenneth arrived just six weeks after Cyclone Idai tore into central Mozambique, killing more than 600 people and displacing scores of thousands. The U.N. says this is the first time in known history that the southern African nation has been hit by two cyclones in one season.

Forecasters say the new cyclone made landfall Thursday night in a part of Mozambique that has not seen such a storm in at least 60 years.

Mozambique’s local emergency operations center says a woman in the city of Pemba was killed by a falling tree.

Source: Fox News World

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