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ADB chief says bank will continue to grant loans to China

FILE PHOTO: Asian Development Bank President Takehiko Nakao attends the Asian Financial Forum in Hong Kong
FILE PHOTO: Asian Development Bank President Takehiko Nakao attends the Asian Financial Forum in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip

April 25, 2019

MANILA (Reuters) – The Asian Development Bank sees value in continuing to lend to China, its president said on Thursday, in response to calls for the institution to stop granting loans to the world’s second-largest economy.

ADB President Takehiko Nakao also said the multilateral financial institution’s lending to China “is not huge” so it will not crowd out borrowers from poorer countries.

“There is merit in lending to China. One we can have influence over such policies like climate change and the environment, which might have a positive impact on developing countries and to the region,” Nakao told reporters.

The Japanese government, which is a founding member of the ADB, has urged the Manila-based lender to stop lending to China on the grounds that it is rich enough to “graduate” from aid, the Nikkei has reported.

But while China’s share in ADB lending has been declining, Nakao said there are no plans of “letting China graduate immediately”.

Nakao said ADB earns from its loans to China and this income could also be used to support its operations in poorer countries.

China has been the bank’s second-largest sovereign borrower and is a major contributor to the institution’s development finance and knowledge sharing initiatives, the ADB said.

ADB’s committed loans to China have fallen to 12 percent of its total in 2018 from 19 percent in 2013, Nakao said.

Founded in 1966 with a mandate to lift hundreds of millions of Asians out of poverty, the Japanese-led ADB has 67 member countries ranging from struggling Bangladesh and Pakistan to booming China and India, with its largest donors Japan and the United States.

(Reporting by Karen Lema; Editing by Jacqueline Wong)

Source: OANN

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Motor racing: Vettel not promising Ferrari resurgence in Bahrain

FILE PHOTO: Bahrain Grand Prix
FILE PHOTO: Formula One F1 - Bahrain Grand Prix - Bahrain International Circuit, Sakhir, Bahrain - March 28, 2019 Ferrari's Sebastian Vettel ahead of the Bahrain Grand Prix REUTERS/Hamad I Mohammed

March 28, 2019

By Abhishek Takle

MANAMA (Reuters) – Sebastian Vettel believes pre-season favorites Ferrari have worked out why they lacked pace in Formula One’s Australian opener but he stopped short on Thursday of promising a resurgence in Bahrain.

The German and new team mate Charles Leclerc were surprisingly slow around Melbourne’s Albert Park circuit two weeks ago, finishing fourth and fifth nearly a minute behind the Mercedes of race winner Valtteri Bottas.

That prompted much head-scratching back at the team’s Maranello headquarters, especially after Ferrari had lit up the timing screens in winter testing.

“The last couple of weeks have been very intense,” Vettel told reporters at Bahrain’s Sakhir desert track.

“I think we have some answers but, as always, you never get all the answers because we never get the chance to go back and repeat.

“I think we are not in a position to be able to make promises. The truth is that we need to wait and see.”

Ferrari have the best record of any team in Bahrain with six wins. Vettel, the most successful driver there, has won four times including the last two in a row.

Ferrari also arrived in Bahrain last year with questions about their pace but Vettel led a front-row lockout in qualifying, followed by a win. He also seized pole position at the next two races.

The German is hopeful Ferrari’s performance this year in Melbourne, with Albert Park regarded as an outlier circuit, will again be a one-off.

“There’s always some lessons — some were about the set-up, others were about the (circuit) configuration,” said the four-times world champion.

“You throw everything in the mix and we have reason to believe we should be stronger here, but I don’t want to put a number to it.”

Leclerc echoed those comments.

“We expect to be more competitive,” said the Monegasque. “We will only see here whether it was only track specific or if there is something else, but I am pretty confident in the package we have.”

(Editing by Alan Baldwin and Ed Osmond)

Source: OANN

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New Zealand marks one week since mosque attack with prayers, scarves

Women attend a vigil for the victims of the mosque attacks during an ecumenical celebration in Christchurch
Women attend a vigil for the victims of the mosque attacks during an ecumenical celebration in Christchurch, New Zealand, March 21, 2019. REUTERS/Jorge Silva

March 21, 2019

By Tom Westbrook

CHRISTCHURCH (Reuters) – New Zealanders prepared for nationwide prayers on Friday to mark one week since a mass shooting at two mosques in Christchurch killed 50 worshippers.

Prime Minister Jacinda Ardern will lead thousands of mourners expected to gather at a park in front of the Al Noor mosque, where most of the victims died, for a prayer followed by two minutes of silence.

Ardern, who has labeled the attack as terrorism, announced a ban on military-style semi-automatic and assault rifles under tough new gun laws on Thursday.

The prime minister is expected to be accompanied in the Christchurch prayers with community leaders and other foreign dignitaries.

The Muslim call to prayer will be broadcast nationally across all free-to-air TV and radio stations.

Armed police have been guarding mosques around New Zealand since the attacks. Police said there would be a “heightened presence” on Friday to reassure those attending weekly prayers.

Candlelight vigils continued until late on Thursday across the country, while government officials worked through the night to prepare the mosque and the bodies of the deceased for a mass burial that expected after the prayers.

“All the bodies are washed. We finished around 1.30 a.m. this morning. It was our duty. After we finished there was a lot of emotion, people were crying and hugging,” said a body washer in Christchurch who gave his name as Mo.

Newspapers across the country ran full-page memorials with the names of the victims, and a call for national mourning.

“A call to prayer…in unity there is strength,” New Zealand Herald said on its front page.

Australian Brenton Tarrant, 28, a suspected white supremacist who was living in Dunedin, on New Zealand’s South Island, has been charged with murder following the attack.

He was remanded without a plea and is due back in court on April 5, when police said he was likely to face more charges.

Twenty-eight people wounded in the attacks remain in hospital, six in intensive care.

Most victims were migrants or refugees from countries such as Pakistan, India, Malaysia, Indonesia, Turkey, Somalia, Afghanistan and Bangladesh.

Muslims account for just over 1 percent of New Zealand’s population, a 2013 census showed, most of whom were born overseas.

On social media, New Zealanders of all religions were being encouraged to wear headscarves on Friday to show their support for the Muslim community.

The #headscarfforharmony movement was trending on Twitter on Friday, with people posting photos of themselves in the Muslim attire.

(Writing by Praveen Menon; Editing by Lincoln Feast)

Source: OANN

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Vermont daycare owner arrested in death of infant given antihistamine

A Vermont daycare operator was arrested Monday in the death of a six-month-old baby who police said fatally overdosed after being given an antihistamine to help her sleep.

Stacey Vailancourt, 53, of Rutland, was taken into custody on suspicion of manslaughter and cruelty to a child arising from the January death of six-month-old Harper Rose Briar, Vermont State Police said in a news release.

“Toxicology testing determined that Harper Briar had high concentrations of diphenhydramine in her body,” the news release said.

BOY SEVERELY ABUSED AS INFANT GETS SPIDER-MAN PROSTHETICS TO HELP HIM WALK

The autopsy report noted that diphenhydramine, the active sedating ingredient in over-the-counter antihistamines, is not to be used on infants without a doctor’s order, according to the news release. There was no such order for Harper.

Vailancourt ran a licensed daycare out of her home.

Police said Harper’s parent left her with Vailancourt, who called 911 when the baby became unresponsive.

SMOKING WHILE PREGNANT DOUBLES RISK OF SUDDEN UNEXPECTED INFANT DEATH, STUDY FINDS

The baby’s obituary in the Rutland Herald said she was daughter of Marissa Colburn and Blake Briar, and was the light of their lives and brought joy to everyone who met her.

“Harper Rose quickly gained the title of 'Perfect Princess,' her beautiful smile made everyone instantly fall in love with her,” it said.

Source: Fox News National

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Rights group: EU complicit in violence against migrants

A leading rights group has accused European Union states of complacency in the "systematic, unlawful and frequently violent pushbacks" by Croatian border guards of thousands of asylum-seekers to squalid and unsafe refugee camps in Bosnia.

Amnesty International said in a report released Wednesday that "European governments are not just turning a blind eye to vicious assaults by the Croatian police, but also funding their activities."

The reports says "in doing so, they are fueling a growing humanitarian crisis on the edge of the European Union."

Croatian authorities have repeatedly denied such reports in the past.

Thousands of migrants have been stuck in Bosnia as they seek to move on toward Western Europe. Migrants mostly travel illegally with the help of people smugglers.

Source: Fox News World

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Former AP photographer Peter Cosgrove dies at age 84

Peter Cosgrove, a former Associated Press photographer in Florida who covered more than 100 space shuttle launches, the Elian Gonzalez saga and the presidential recount, has died.

He died of a heart attack in his sleep on Saturday in Orlando, Florida at the age of 84.

During a journalism career that spanned almost 50 years, Cosgrove covered President Nixon's meeting with South Vietnamese President Nguyen Van Thieu and four Apollo moon-mission crew recoveries at sea.

He was aboard the USS Hornet when the first moonwalkers, Neil Armstrong and Buzz Aldrin, and pilot Michael Collins, returned to Earth and were picked up in the Pacific by the aircraft carrier in 1969.

He also covered two of NASA's greatest tragedies - the Challenger explosion and the demise of the space shuttle Columbia.

Source: Fox News National

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Police ID suspect and victims in deadly Dallas hit-and-run

Authorities have released the name of a driver accused in a hit-and-run that killed three men who were changing a tire along a Dallas freeway.

Police said Monday that they are searching for 32-year-old Jesus Chavarria-Vasquez, who they say fled on foot early Sunday after hitting the men with his pickup truck. Those killed were 22-year-old Hieu Minh Doan, and 23-year-olds David Nguyen and Christopher Pham.

Police say Chavarria-Vasquez left his injured 12-year-old son at the scene. The boy, who police originally said was 13, was taken to a hospital, where his mother met him.

Chavarria-Vasquez faces charges of manslaughter and failure to stop and render aid. Police believe he may be driving a black 2008 Cadillac, with Texas plates, or a white work van.

Source: Fox News National

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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Source: InfoWars

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It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND ‘STAYING STRONG’ FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

“This is not something that a typical pawn shop might accept,” Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. “My feeling would be that it was some type of black market sales.”

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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