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Saudi Aramco inks $10 billion refining and petrochemicals project with China

FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal
FILE PHOTO: An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo

February 22, 2019

DUBAI (Reuters) – State-owned Saudi Aramco has signed an agreement to form a joint venture with Chinese defense conglomerate Norinco to develop a refining and petrochemical complex in Panjin city, saying the project is worth more than $10 billion.

The partners will form a new company called Huajin Aramco Petrochemical Co as part of a project that will include a 300,000 barrels per day (bpd) refinery with a 1.5 million metric tonnes per annum (mmtpa) ethylene cracker, Aramco said on Friday.

Aramco will supply up to 70 percent of the crude feedstock for the complex, which is expected to start operations in 2024.

(Reporting by Sylvia Westall; Editing by David Goodman)

Source: OANN

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Family of IS teen appeals to UK to help bring her child home

The family of a U.K. teenager who ran away to join the Islamic State group as a minor is begging the British government to help bring her newborn son to Britain.

Shamima Begum's family wrote Friday to Home Secretary Sajid Javid, asking for his help in bringing her child to Britain, describing the baby boy was a "true innocent."

Begum was only 15 when she fled east London with two other friends to travel to Syria to marry IS fighters in 2015 at a time when the group's online recruitment program lured many impressionable young people to its self-proclaimed caliphate.

Begum, now 19, resurfaced at a refugee camp in Syria and has told reporters she wanted to come home. Her apparent lack of remorse has triggered criticism, and Javid has revoked her citizenship.

Source: Fox News World

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Dollar hovers near two-year high, U.S. GDP awaited

FILE PHOTO: Photo illustration of one hundred dollar notes in Seoul
FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul January 9, 2013. REUTERS/Lee Jae-Won

April 26, 2019

By Shinichi Saoshiro

TOKYO (Reuters) – The dollar hovered near a two-year high against its peers on Friday, supported by strong U.S. capital goods orders and awaiting first-quarter GDP data which could further reinforce the greenback’s bullish standing.

The dollar index versus a basket of six major currencies stood at 98.128 after advancing to 98.322 on Thursday, its highest since May 2017.

Data on Thursday showed new orders for U.S.-made capital goods increased by the most in eight months in March. That follows other recent U.S. data that show strength in retail sales and exports which have eased concerns of the world’s biggest economy sharply slowing.

The markets are watching first-quarter U.S. gross domestic product data due later on Friday (1230 GMT) for signs of whether the United States remains stronger than other leading economies.

According to a Reuters survey of economists, GDP probably increased at a 2.0 percent annualized rate in the quarter. The economy grew at a 2.2 percent pace in the October-December period.

“We expect the GDP data to underline steady economic recovery. Differences in economic fundamentals is a key driver for currencies now that the Fed – and more recently the Swedish and Japanese central banks – have adopted a dovish stance,” said Shin Kadota, senior strategist at Barclays in Tokyo.

Sweden’s central bank said on Thursday that recent weak inflationary pressures meant an interest rate hike would come slightly later than it had planned, sending the Swedish crown to a 17-year low.

In a move to dispel any doubt over its commitment to ultra-loose policies, the Bank of Japan on Thursday put a time frame on its forward guidance for the first time by telling investors that it would keep interest rates at super-low levels for at least one more year.

The euro was a touch higher at $1.1139 but within reach of $1.1117, its lowest level since June 2017 plumbed on Thursday.

The single currency has shed nearly 1 percent against the dollar this week, weighed by worries about the health of the euro zone economy.

The dollar was down 0.1 percent at 111.52 yen after shedding 0.5 percent overnight.

The Australian dollar was steady at $0.7018 after ending Thursday little changed.

The Aussie has lost roughly 2 percent this week, during which it sank to a near four-month trough as soft domestic inflation data boosted the prospect of a rate cut by the Reserve Bank of Australia.

(Reporting by Shinichi Saoshiro; Editing by Kim Coghill)

Source: OANN

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Ghosn lawyers file second appeal against detention: Kyodo

A video statement made by the former Nissan Motor chairman Carlos Ghosn is shown on a screen during a news conference by his lawyers at Foreign Correspondents' Club of Japan in Tokyo
A video statement made by the former Nissan Motor chairman Carlos Ghosn is shown on a screen during a news conference by his lawyers at Foreign Correspondents' Club of Japan in Tokyo, Japan April 9, 2019. REUTERS/Issei Kato

April 10, 2019

TOKYO (Reuters) – Carlos Ghosn’s defense lawyers filed their second appeal against his latest detention on Wednesday, Kyodo news reported, as the ousted chairman of Nissan Motor Co seeks a formal explanation for his re-arrest.

In a highly unusual move, Ghosn was re-arrested on Thursday on fresh allegations that he used company funds to enrich himself by $5 million, after he had been released on bail for 30 days after paying $9 million.

He already has been charged with under-reporting his Nissan salary for a decade and of temporarily transferring personal financial losses to Nissan’s books.

(Reporting by Makiko Yamazaki and Naomi Tajitsu; Editing by Kim Coghill)

Source: OANN

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Dutch PM Rutte: no decisions yet on Chinese role in 5G roll out

FILE PHOTO: Japanese PM Abe and Dutch PM Rutte meet in Rotterdam
FILE PHOTO: Dutch Prime Minister Mark Rutte and his Japanese counterpart Shinzo Abe (not pictured) hold a joint news conference in Rotterdam, the Netherlands, January 9, 2019. REUTERS/Piroschka van de Wouw/File Photo

April 12, 2019

AMSTERDAM (Reuters) – Dutch Prime Minister Mark Rutte on Friday said his government is exploring how to design the construction of a 5G telecoms network, but has no opinion yet on the possible role of Chinese technology companies in this.

“We are closely assessing how we can help in the roll out of a 5G network in the Netherlands, as far as politicians have anything to say about that, but it’s too early to make any announcements”, Rutte said.

The United States has lobbied Europe to shut out Chinese technology company Huawei from such projects, saying its equipment could be used by the Chinese government for espionage.

(Reporting by Bart Meijer; Editing by Kirsten Donovan)

Source: OANN

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Rare protests erupt against Hamas' 12-year rule over Gaza

Hamas is facing the biggest demonstrations yet against its 12-year rule of the Gaza Strip, with hundreds of Palestinians taking to the streets in recent days to protest the dire living conditions in the blockaded territory.

With little tolerance for dissent, the Islamic militant group has responded with heavy-handed tactics. It has arrested dozens of protesters, beaten activists and violently suppressed attempts by local media to cover the unrest.

Hamas has accused the rival West Bank-based Palestinian Authority of orchestrating the protests — a charge that organizers vehemently reject.

"There is no political agenda at all," said Amin Abed, 30, an organizer who has been forced into hiding. "We simply want to live in dignity," he said by telephone. "We just ask Hamas to ease the economic hardships and tax burdens."

Hamas, which seeks Israel's destruction, seized control of Gaza in 2007 from the forces of Palestinian President Mahmoud Abbas. Israel and Egypt imposed a blockade, a step meant to prevent Hamas from arming.

The blockade, and three wars with Israel, have ravaged Gaza's economy but done nothing to loosen Hamas' grip on power.

Unemployment is over 50 percent and much higher for young university graduates like Abed. Tap water is undrinkable, electricity is limited and travel abroad severely restricted. Hamas' cash-strapped government recently raised taxes on basic goods like bread, beans and cigarettes.

Protesters accuse Hamas of corruption and imposing the hefty taxes to enrich itself. They used social media to organize protests last week with the slogan "We want to live!"

The protests come just as Hamas marks the one-year anniversary of its weekly demonstrations along the frontier with Israel. The demonstrations, aimed largely at easing the blockade, have accomplished little, even as some 190 Palestinians have been killed and thousands wounded by Israeli fire.

This is not the first time people have taken to the streets against Hamas. Two years ago, protesters demonstrated against the chronic power cuts on a cold January day before Hamas violently dispersed them. This time around, the sporadic rallies have continued for five days, despite a similarly violent response.

"These protests were the largest, the longest and the most violent in terms of Hamas' suppression," said Mkhaimar Abusada, political science professor at Gaza's al-Azhar University.

"This was a message of anger to Hamas that the situation is unbearable and that it must reconsider all its policies," he added.

On Monday, Amnesty International reported that hundreds of protesters have been beaten, arbitrarily arrested, tortured and subjected to ill-treatment. Journalists and human rights workers, including a researcher for the London-based organization, were also roughed up, Amnesty said.

"The crackdown on freedom of expression and the use of torture in Gaza has reached alarming new levels," said Amnesty's Middle East deputy director Saleh Higazi.

Osama al-Kahlout, a journalist with the local news site Donia al-Wattan, last week published a photo of a protester on crutches raising a sign that said "I want to live in dignity." The next day, he was detained as he went live on Facebook during another protest.

Al-Kahlout said police smashed furniture, seized his belongings and beat him on the way to the police station. "I'm a journalist," he said. "I don't regret covering it."

He said he was released after a meeting with the police chief in which officials "advised" journalists not to cover the protests.

Heba el-Buhissi, 31, who filmed the raids at her family home, said a policeman fired a warning shot in the air as others cursed and yelled at her after she started filming. Her videos show a group of Hamas police beating her cousin with wooden batons.

Other amateur videos have shown protesters burning tires and hurling stones toward Hamas forces. Hamas gunmen can be seen jumping out of vehicles and beating people with clubs. Other videos show Hamas going door to door and carrying out mass arrests.

El-Buhissi filmed the incident last Thursday when she saw Hamas dispersing some of her neighbors who had hoisted banners against tax hikes. Her family opened the home to allow youths to escape the police.

"This is what drove the police crazy, and that's why they stormed our houses," she said. "I felt I have to film to prove what was going on."

The Brussels-based International Federation of Journalists reported Monday that 42 Palestinian journalists "were targeted" by Hamas forces in the past five days. The abuses included physical assaults, summons, threats, home arrests and seizure of equipment.

The official Palestinian Authority news agency Wafa reported Monday that the spokesman of Abbas' Fatah movement in Gaza, Atef Abu Saif, was badly beaten by Hamas.

It showed pictures of Abu Said with a bandaged leg, bruises and blood-stained clothes lying on a hospital bed.

Ammar Dwaik, director of the Independent Commission for Human Rights in Gaza, said Hamas forces have dispersed 25 protests with excessive force and arrested about 1,000 people. He said some 300 people remain in custody.

"This is worst crackdown in Gaza since the Hamas takeover in 2007 in terms of its scope and cruelty," Dwaik said.

On Tuesday, Hamas issued a brief statement "rejecting the use of violence and repression against any Palestinian for practicing his legitimate right of expression."

But Sami Abu Zuhri, a Hamas official, used tougher language in a Twitter post, accusing Israel and the Palestinian Authority of conspiring to organize protests. "The attempts of the Palestinian Authority and the occupation to drive a wedge between the people and the resistance have failed," he said.

The demonstrations appeared to subside on Monday, but organizers say the protests will continue until Hamas cancels taxes on dozens of goods, creates a national employment program and releases everyone who has been arrested in the crackdown.

Abed, the protest leader, said Hamas has stormed his family's house and delivered an arrest warrant for him to his father.

"Hamas doesn't want us to scream. It wants us to die in silence," he said.

Source: Fox News World

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Report: RB Pressley suspended two games by NFL

FILE PHOTO: AAF: Atlanta Legends at Arizona Hotshots
FILE PHOTO: Mar 3, 2019; Tempe, AZ, USA; Arizona Hotshots running back Jhurell Pressley (26) runs the ball against the Atlanta Legends during an AAF football game at Sun Devil Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports - 12280141

April 5, 2019

Former Arizona Hotshots running back Jhurell Pressley is facing a two-game suspension by the NFL for “a pending issue,” according to a report by the NFL Network’s Ian Rapoport.

Rapoport added that Pressley is scheduled for workouts next week with two unnamed teams.

In eight weeks of action in the AAF, Pressley led the league in rushing, with 96 carries for 431 yards and one touchdown.

He entered the NFL in 2016 as an undrafted free agent out of New Mexico and signed with the Minnesota Vikings. He had stints with the Green Bay Packers, Atlanta Falcons, Jacksonville Jaguars and New York Giants before joining the AAF.

–Field Level Media

Source: OANN

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Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of
Avengers fans gather at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. REUTERS/Mike Blake

April 26, 2019

LOS ANGELES (Reuters) – Marvel Studios superhero spectacle “Avengers: Endgame” hauled in a record $60 million at U.S. and Canadian box offices during its Thursday night debut, distributor Walt Disney Co said.

Global ticket sales for the film about Iron Man, Hulk and other popular characters reached $305 million for the first two days, Disney said.

(Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

Source: OANN

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Funeral of journalist Lyra McKee in Belfast
Labour Party leader Jeremy Corbyn attends the funeral service for murdered journalist Lyra McKee at St Anne’s Cathedral in Belfast, Northern Ireland April 24, 2019. Brian Lawless/Pool via REUTERS

April 26, 2019

LONDON (Reuters) – The leader of Britain’s opposition Labour Party, Jeremy Corbyn, said on Friday he had turned down an invitation to a state dinner which will be part of U.S. President Donald Trump’s visit to Britain in June.

“Theresa May should not be rolling out the red carpet for a state visit to honor a president who rips up vital international treaties, backs climate change denial and uses racist and misogynist rhetoric,” Corbyn said in a statement.

He said maintaining the relationship with the United States did not require “the pomp and ceremony of a state visit” and he said he would welcome a meeting with Trump “to discuss all matters of interest.”

(Reporting by Andy Bruce; Writing by William Schomberg)

Source: OANN

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Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli
Libyan Minister of Economy Ali Abdulaziz Issawi speaks during an interview with Reuters in Tripoli, Libya April 25, 2019. REUTERS/Hani Amara

April 26, 2019

By Ulf Laessing

TRIPOLI (Reuters) – Libya’s U.N.-recognized government has budgeted up to 2 billion dinars ($1.43 billion) to cover costs of a three-week-old war for control of the capital, such as treatment for the wounded, to be funded without new borrowing, the economy minister said.

Ali Abdulaziz Issawi suggested the government hoped for business to continue more or less as usual despite the assault on Tripoli, in the country’s northwest, by forces tied to a parallel administration based in the eastern city of Benghazi.

Once Africa’s third largest producer of oil, Libya has been riven by factional conflict since the fall of Muammar Gaddafi in 2011, with the country now broadly split between eastern-based forces under Khalifa Haftar and the U.N.-backed government in Tripoli, in the west, under Prime Minister Fayez al-Serraj.

Still, with Haftar’s Libyan National Army forces unable so far to pierce defenses in Tripoli’s southern suburbs, normal life and business activities continue in much of the capital and western coastal towns.

Issawi, in an interview with Reuters in his Tripoli office, also said Libya’s commercial ports and wheat imports were still functioning normally, although some roads have been blocked.

He said the Serraj government estimates it will spend up to 2 billion dinars extra on medical treatment for wounded, aid for displaced people and other “emergency” war costs.

He said this was not military spending but analysts believe that the sum will also cover expenditures such as pay for allied armed groups or food for fighters.

“We could actually spend less,” he added, in comments that gave the first insight into the economic impact of the fighting.

Issawi said the Tripoli government, which controls little territory beyond the greater capital region, would not incur new debt to fund the war costs, sticking to a plan to post a 2019 budget without a deficit.

Tripoli derives revenue largely from oil and natural gas production, interest-free loans from local banks to the central bank, and a 183 percent surcharge on foreign exchange transactions conducted at official rates.

But with centralized tax collection greatly diminished, public debt has piled up – to 68 billion dinars in the west, including unpaid state obligations such as social insurance.

Some analysts expect Serraj’s government will be forced to raise new debt if the war for control of Tripoli drags on.

With much of Libya dominated by armed factions that also act as security forces, the public wage bill for both the western and eastern administrations has soared as fighters have been made public employees in efforts to buy their loyalty.

The east has sold bonds worth 35 billion dinars outside the official financial system as the Tripoli central bank does not fund the parallel government apart from some wages.

Despite its limited reach, the Tripoli government still runs an annual budget of around 46.8 billion dinars, mainly for public salaries and fuel subsidies.

“This year we cannot finance via debt…we will not borrow (by agreement with the central bank),” Issawi said.

According to International Monetary Fund data, Libya’s central government debt-to-GDP ratio is 143 percent, making it one of the most heavily indebted in the world on that measure.

Issawi declined to say what parts of the budget would be trimmed to support the extra outlay for war costs.

However, with some 70 percent of the budget allocated to public wages, fuel subsidies and other welfare benefits, a portion devoted to infrastructure is most likely to be axed.

Widespread lawlessness has meant there have been no major infrastructural projects since 2011, when a NATO-backed uprising overthrew dictator Muammar Gaddafi, leaving schools, hospitals and roads in acute need of restoration.

FOREX SURCHARGE

Issawi said the government planned to raise as much as 30 billion dinars by the end of 2019 from hard currency deals after imposing in September a 183 percent surcharge on commercial and private transactions done on the official rate of 1.4 to the U.S. dollar. That fee has effectively devalued the official rate to 3.9, much closer to the black market equivalent.

Some 17 billion dinars have been raised since then, with hard currency allocated for import credit letters now issued without delays, Issawi said. The forex fee has helped the government forecast a budget in the black for 2019.

Despite the narrowing spread between the two rates, the black market continues to thrive. Dozens of traders remained at their favorite spot behind the central bank headquarters in Tripoli when Reuters reporters visited it last week.

But traders said it could take time for the Serraj government to register the extra forex receipts as official banking channels were taking up to six months to approve import financing, keeping the black market in play for dealers.

Issawi said authorities planned to lower the forex fee from 183 percent, without saying when. The black market rate has dropped from 6 to around 4.1 since September but it has hardly moved of late as demand for black market cash remains high.

The Tripoli government has stopped subsidizing food and bread, which used to be cheaper than drinking water in Libya. Wheat imports are now being arranged by private traders and there are surplus stocks of flour at the moment, Issawi said.

(Reporting by Ulf Laessing in Tripoli with additional reporting by Karin Strohecker in London; Editing by Mark Heinrich)

Source: OANN

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Rep. Gerry Connolly, D-Va., threatened possible jail time for White House officials refusing to comply with subpoenas to testify before the House Oversight Committee.

Connolly, a member of the House panel, made his comments during an interview on CNN on Thursday. He said that “if a subpoena is issued and you’re told you must testify, we will back that up.”

He added: “And we will use any and all power in our command to make sure it’s backed up — whether that’s a contempt citation, whether that’s going to court and getting that citation enforced, whether it’s fines, whether it’s possible incarceration.”

“We will go to the max to enforce the constitutional role of the legislative branch of government.”

His comments came after three officials have refused to comply with congressional requests to testify, CNN noted.

Trump told The Washington Post that his staff should not testify on Capitol Hill, explaining that the White House cooperated fully with special counsel Robert Mueller and “there is no reason to go any further, especially in Congress where it’s very partisan.”

Source: NewsMax Politics

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“Outdated laws” need fixing to deal with the surge in illegal immigrant families crossing the U.S. border with Mexico, a top Border Patrol official said Friday.

Migrant families face no consequences if apprehended trying to cross the border illegally under present law, Border Patrol chief of Operations Brian Hastings claimed during an appearance on “Fox & Friends.”

“We need a change in the current outdated laws that we’re dealing with for this current demographic and this crisis that we have,” he said.

Hastings said as of Thursday there have been 440,000 apprehensions along the southwest border. There were 396,000 apprehensions all of last year.

SOUTHERN BORDER AT ‘BREAKING POINT’ AFTER MORE THAN 76,000 ILLEGAL IMMIGRANTS TRIED CROSSING IN FEBRUARY, OFFICIALS SAY

And those numbers continue to rise, he said.

Historically 70 to 90 percent of apprehensions at the border were quickly returned to Mexico, Hastings said.

Now, 83 percent of those apprehended have come from the Central American northern triangle which includes Guatemala, El Salvador, and Honduras, and of those 63 percent are “family units” and children who cannot be returned, he said.

“There are no consequences that we can apply to this group currently,” Hastings said. “We’re overwhelmed. If you look at agents there doing a tremendous job trying to deal with the flow.”

The law dictates children have to be released after 20 days of detention.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Sen. Lindsey Graham, R-S.C., says that has forced immigration officials to release entire families because “you don’t want to separate families.”

Recently, he said he is drafting legislation that would allow children to be detained for more than 20 days.

Hastings said agents are frustrated with the situation but are doing the best they can with the resources they have.

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“Up to 40 percent of our agents are processing at any given time,” he said. “That should say that in and of itself is pulling from those border security resources.”

Source: Fox News National

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