Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am


Upcoming shows
Real News

NOW ON AIR
Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Exclusive: Saudi Arabia threatens to ditch dollar oil trades to stop ‘NOPEC’ – sources

FILE PHOTO: An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia
FILE PHOTO: An oil tanker is being loaded at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah

April 5, 2019

By Dmitry Zhdannikov, Rania El Gamal and Alex Lawler

LONDON/DUBAI (Reuters) – Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said.

They said the option had been discussed internally by senior Saudi energy officials in recent months. Two of the sources said the plan had been discussed with OPEC members and one source briefed on Saudi oil policy said Riyadh had also communicated the threat to senior U.S. energy officials.

The chances of the U.S. bill known as NOPEC coming into force are slim and Saudi Arabia would be unlikely to follow through, but the fact Riyadh is considering such a drastic step is a sign of the kingdom’s annoyance about potential U.S. legal challenges to OPEC.

In the unlikely event Riyadh were to ditch the dollar, it would undermine the its status as the world’s main reserve currency, reduce Washington’s clout in global trade and weaken its ability to enforce sanctions on nation states.

“The Saudis know they have the dollar as the nuclear option,” one of the sources familiar with the matter said.

“The Saudis say: let the Americans pass NOPEC and it would be the U.S. economy that would fall apart,” another source said.

Saudi Arabia’s energy ministry did not respond to a request for comment.

A U.S. state department official said: “as a general matter, we don’t comment on pending legislation.”

The U.S. Energy Department did not respond to a request for comment. Energy Secretary Rick Perry has said that NOPEC could lead to unintended consequences.

DOLLAR HEGEMONY

NOPEC, or the No Oil Producing and Exporting Cartels Act, was first introduced in 2000 and aims to remove sovereign immunity from U.S. antitrust law, paving the way for OPEC states to be sued for curbing output in a bid to raise oil prices.

While the bill has never made it into law despite numerous attempts, the legislation has gained momentum since U.S. President Donald Trump came to office. Trump said he backed NOPEC in a book published in 2011 before he was elected, though he not has not voiced support for NOPEC as president.

Trump has instead stressed the importance of U.S-Saudi relations, including sales of U.S. military equipment, even after the killing of journalist Jamal Khashoggi last year.

A move by Saudi Arabia to ditch the dollar would resonate well with big non-OPEC oil producers such as Russia as well as major consumers China and the European Union, which have been calling for moves to diversify global trade away from the dollar to dilute U.S. influence over the world economy.

Russia, which is subject to U.S. sanctions, has tried to sell oil in euros and China’s yuan but the proportion of its sales in those currencies is not significant.

Venezuela and Iran, which are also under U.S. sanctions, sell most of their oil in other currencies but they have done little to challenge the dollar’s hegemony in the oil market.

However, if a long-standing U.S. ally such as Saudi Arabia joined the club of non-dollar oil sellers it would be a far more significant move likely to gain traction within the industry.

WHAT IF?

Saudi Arabia controls a 10th of global oil production, roughly on par with its main rivals – the United States and Russia. Its oil firm Saudi Aramco holds the crown of the world’s biggest oil exporter with sales of $356 billion last year.

Depending on prices, oil is estimated to represent 2 percent to 3 percent of global gross domestic product. At the current price of $70 per barrel, the annual value of global oil output is $2.5 trillion.

Not all of those oil volumes are traded in the U.S. currency but at least 60 percent is traded via tankers and international pipelines with the majority of those deals done in dollars.

Trading in derivatives such as oil futures and options is mainly dollar denominated. The top two global energy exchanges, ICE and CME, traded a billion lots of oil derivatives in 2018 with a nominal value of about $5 trillion.

Just the prospect of NOPEC has already had implications for the Organization of Petroleum Exporting Countries. Qatar, one of the core Gulf OPEC members, quit the group in December because of the risk NOPEC could harm its U.S. expansion plans.

Two sources said that despite raising the dollar threat, Saudi Arabia did not believe it would need to follow through.

“I don’t think the NOPEC bill will pass but the Saudis have ‘what if’ scenarios,” one of the sources said.

ASSET SALES

In the event of such a drastic Saudi move, the impact would take some time to play out given the industry’s decades-old practices built around the U.S. dollar – from lending to exchange clearing.

Other potential threats raised in Saudi discussions about retaliation against NOPEC included liquidating the kingdom’s holdings in the United States, the sources said.

The kingdom has nearly $1 trillion invested in the United States and holds some $160 billion in U.S. Treasuries.

If it did carry out its threat, Riyadh would also have to ditch the Saudi riyal’s peg to the dollar, which has been exchanged at a fixed rate since 1986, the sources said.

The United States, the world’s largest oil consumer, relied heavily on Saudi and OPEC supplies for decades – while supporting Riyadh militarily against its arch-foe Iran.

But soaring shale oil production at home has made Washington less dependant on OPEC, allowing it to be more forceful in the way it deals with Saudi Arabia and other Middle Eastern nations.

Over the past year, Trump has regularly called on OPEC to pump more oil to lower global oil prices, and linked his demands to political support for Riyadh – something previous U.S. administrations have refrained from doing, at least publicly.

(Reporting by Dmitry Zhdannikov and Alex Lawler in London and Rania El Gamal in Dubai; additional reporting by Timothy Gardner in Washington; editing by David Clarke)

Source: OANN

0 0

Ireland says extension of 21 months would allow ‘rethink’ of Brexit

FILE PHOTO: Irish Foreign Minister Simon Coveney in Dublin
FILE PHOTO: Irish Foreign Minister Simon Coveney in Dublin, Ireland, February 15, 2019. REUTERS/Hannah McKay/File Photo

March 14, 2019

DUBLIN (Reuters) – Ireland’s Foreign Minister Simon Coveney said on Thursday the European Union may offer Britain to delay its exit from the bloc by up to 21 months in what may lead to a “fundamental rethink” of British policy on the matter.

“If you have a long extension of Article 50, that opens up the debate in a much broader way to the overall approach that the United Kingdom takes to Brexit. That may facilitate a fundamental rethink, it may not, we just don’t know,” Coveney told RTE radio in an interview.

“If you have a long extension of, say 21 months to the end of 2020 – whatever the period would be – then Britain has a legal entitlement to have representation in the European parliament” and so must take part in EU elections, he said.

(Reporting by Conor Humphries; Editing by Alison Williams)

Source: OANN

0 0

GRAPHIC IMAGE: Frank Cali’s killing recalls NYC’s last major mob hit decades ago

The murder of reputed Gambino crime family boss Frank Cali on Wednesday recalled New York City’s last major mob hit nearly 35 years ago: the assassination of Paul Castellano outside a Manhattan steak house on a December afternoon in 1985.

Castellano, who at the time was the 70-year-old reputed leader of the same family, which was seen as the nation's largest and most powerful crime organization at the time, was gunned down outside of New York City's Spark's Steakhouse on 46th St.

FRANK CALI, REPUTED GAMBINO CRIME FAMILY BOSS, FATALLY SHOT OUTSIDE STATEN ISLAND HOME: REPORTS

After exiting a limousine outside the restaurant, Castellano and his underboss, Thomas Bilotti, were approached by three men in trench coats who shot them each about six times, the New York Times reported at the time.

Detectives stand over the body of reputed mob boss Paul Castellano, after his execution outside of Spark's Steakhouse on 46th St. in Dec. 1985. The Body of Castellano's chauffeur, Thomas Bilotti, lies partially covered in the street, far left. (Photo By: Tom Monaster/NY Daily News via Getty Images)

Detectives stand over the body of reputed mob boss Paul Castellano, after his execution outside of Spark's Steakhouse on 46th St. in Dec. 1985. The Body of Castellano's chauffeur, Thomas Bilotti, lies partially covered in the street, far left. (Photo By: Tom Monaster/NY Daily News via Getty Images)

His murder was orchestrated by John Gotti in a power move that would see him become head of the family, according to testimony by mafia underboss Salvatore Gravano. Gravano said he and Gotti watched the execution from a car nearby.

Rudolph W. Giuliani, who at the time was the United States Attorney for the Southern District of New York, condemned the killings and vowed to find those responsible.

LEGENDARY NYC MAFIA BOSS CARMINE PERSICO DIES BEHIND BARS AT 85

"Everyone should be outraged at something like this," Giuliani told the paper at the time. "Law enforcement has an obligation to investigate it fully and to try and identify and prosecute those people who are responsible for it. A murder makes the whole world a little bit less safe for everybody - no matter who is murdered."

CLICK HERE TO GET THE FOX NEWS APP

Castellano, known as “The Howard Hughes of the Mob” and “Big Paulie,” succeeded Carlo Gambino after his death in 1975, becoming the acting boss of the Gambino crime family.

Source: Fox News National

0 0

Japan to name new era for soon-to-be emperor Naruhito

Japan's government is holding top-secret meetings to decide a new era name for soon-to-be-emperor Naruhito, the crown prince who will succeed the Chrysanthemum throne from his father May 1.

Emperor Akihito is abdicating on April 30, with his era of "Heisei" coming to an end.

Prime Minister Shinzo Abe's government later Monday will unveil the era name, or "gengo," for Naruhito's reign.

It comes a month ahead of the switch to allow the government, businesses and other sectors time to adjust to the change that still affects many parts of Japan's society, even though the system is not compulsory and the emperor has no political power under Japan's postwar constitution.

Under the 1979 era name law, Abe has appointed a panel of experts on classical Chinese and Japanese literature to nominate two to five names for top officials to choose from. The names must meet the strict criteria — easy to read and write but not commonly or previously used for an era name.

Japanese media have scrambled to get scoops out of a new era name. Rumors included "Ankyu," which uses the same Chinese character as in Abe's family name, though it is unlikely to be the choice.

The name selection procedure started in mid-March when Chief Cabinet Secretary Yoshihide Suga asked a handful of unidentified scholars to nominate two to five era names each. Suga hasn't made clear how he will present the new name, but hinted he may follow his late predecessor Keizo Obuchi, who is remembered for holding up framed calligraphy of "Heisei" in 1989 at the first televised announcement of an era name.

While a growing number of Japanese prefer the Western calendar over the Japanese system in a highly digitalized and globalized society, the era name is still widely used in government and business documents. Elders often use it to identify their generations.

Discussing and guessing new era names in advance is not considered a taboo this time because Akihito is abdicating. Era name change is also a time for many Japanese to reflect on the outgoing and incoming decades.

Akihito's era of "Heisei," which means "achieving peace," was the first without a war in Japan's modern history, but is also remembered as lost years of economic deflation and natural disasters.

Heisei was the first era name decided by the government under the postwar constitution, in which the emperor was stripped of political power and had no say over the choice. Still, the government, with its highly secretive and sensitive handling of the process, is underscoring that "the emperor has power in an invisible, subtle way," says Hirohito Suzuki, a Toyo University sociologist.

Era name changes are creating businesses for both the outgoing and the incoming. Anything dubbed "last of Heisei" attracts Akihito fans, while others are waiting to submit marriage certificates or filing other official registration until the new era starts. Analysts say the era change that expands the "golden week" holidays to 10 days on May 1 could buoy tourism and other recreational spending.

___

Follow Mari Yamaguchi at https://www.twitter.com/mariyamaguchi

Source: Fox News World

0 0

Confusion, grief as hunt for remains from Ethiopia crash halted

Ethiopians search for remains at the Ethiopian Airlines Flight ET 302 plane crash before a commemoration ceremony at the scene of the of the crash, near the town of Bishoftu, southeast of Addis Ababa
FILE PHOTO: Ethiopians search for remains at the Ethiopian Airlines Flight ET 302 plane crash before a commemoration ceremony at the scene of the crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia March 13, 2019. REUTERS/Baz Ratner

March 22, 2019

By Maggie Fick

ADDIS ABABA (Reuters) – A child’s foot. Fingers. A passport.

Body parts and personal effects were still strewn across the crash site of Ethiopian Airlines Flight 302 on March 15, a witness told Reuters, five days after the disaster and the day before recovery efforts were halted.

With the site now fenced off, bereaved families are worried the remains of their loved ones may be left at the scene, compounding their anguish.

Citizens of 35 nations were aboard when the Boeing 737 MAX 8 jet nosedived into a field on March 10 six minutes after take-off from Addis Ababa, killing all 157 people onboard.

Families of those who perished complain of a lack of information about recovery efforts, which saw Ethiopian workers using metal parts of the aircraft to dig in the soil.

Religions such as Islam and Judaism require quick burials, but authorities said last week that identifying remains – many burned or in small pieces – might take six months.

“At the beginning, (the Ethiopian authorities) should have blocked off that place and sent an organized team to search, instead of just leaving it open. I’m unhappy about that. It’s supposed to be easier if it’s in the government’s hands,” said Milka Yimam, a dual Ethiopia-Israeli citizen whose 26-year-old son Sidrak died.

Relatives of the victims who visited the site on Monday said it had been cordoned off and the ground leveled, apart from the impact crater. The dead included a grand-niece of consumer advocate and former U.S. presidential candidate Ralph Nader.

Excavation was halted last Saturday, ministry of transport spokesman Musie Yehyies told Reuters.

“Excavation has ended for the moment since we have got everything we think we need at the moment. The site has been enclosed and can be revisited,” he said on Friday.

Global attention has mostly shifted to an investigation into the cause of the disaster, and similarities with the crash of a Lion Air 737 MAX plane in Indonesia last October that killed 189 people. Pilots of both aircraft reported control problems and crashed minutes after take-off.

The world’s entire 737 MAX fleet was grounded after the Ethiopia crash, with Boeing losing about 12 percent – or $28 billion – of its market value since the disaster.

But as headlines focus on the investigation and its financial fallout, families fear the spotlight has shifted from recovery efforts.

DIPLOMATIC PRESSURE

Israelis whose bodies are not recovered are officially listed at home as “disappeared” rather than “dead” – a status that can cause complications for relatives in matters ranging from inheritance to remarrying.

Some Jewish traditions also require a piece of the body be buried before mourning can begin, with the soul not able to rest until then, giving the families’ quest an agonizing urgency.

So the Israeli embassy has been working hard to retrieve the remains of its two citizens who died in the crash, families told Reuters.

But it hasn’t been easy. After being bounced between various government ministries, the ambassador eventually wrote to the airline to get access to the crash site, a source familiar with matter said. He got no reply – until the Israeli prime minister intervened by phoning his Ethiopian counterpart.

The two leaders spoke to exchange condolences for the lives lost in the crash, a spokeswoman for Ethiopian Prime Minister Abiy Ahmed’s office told Reuters on Friday.

The ambassador and representatives of Israeli volunteer rescue and recovery organization ZAKA were finally able to access the site last Friday. They have not been allowed back.

The embassy said on Thursday ZAKA had been told it could not return to retrieve remains due to a “procedural matter” and that Ethiopia did not want to grant access for other nations.

The Ethiopian ministries of transport and foreign affairs did not respond to a request for comment.

CONFUSION OVER PASSENGERS

An Interpol-led group of nations including Germany and Canada are supporting the DNA testing, three Addis Ababa-based diplomatic sources said. Ethiopia has also contracted British firm Blake Emergency Services to recover and return the remains. The firm did not respond to requests for comment.

Remains recovered so far have been bagged and stored in an out-of-the-way area of Addis Ababa’s Bole airport, in refrigeration units usually used to store roses destined for export, before being moved to the capital’s St. Paul’s Hospital, two sources told Reuters.

Halting excavations could complicate matters for many countries, some of which are still unsure how many of their citizens were lost.

Although 18 of the victims have been identified as Canadian, others had connections to Canada, meaning its embassy has been supporting more families, said Canada’s ambassador to Ethiopia, Antoine Chevrier. Some were also dual nationals.

Ethiopian Airlines has not published the full passenger list with names and dates of birth. It did not respond to questions over when the list might be published.

Until that is done, confusion remains over dual nationals, and the citizenship of seven people onboard the flight is still not public, diplomats told Reuters.

(Additional reporting by Jason Neely in Addis Ababa and Katharine Houreld in Nairobi; Writing by Katharine Houreld; Editing by Mark Potter)

Source: OANN

0 0

Catalan yellow ribbon protest intrudes into Spanish election

A dispute between Spanish authorities and Catalan separatists over a yellow ribbon symbol is building into a hot issue ahead of Spain's general election next month.

The independence-minded Catalan government has failed to obey an order from the country's electoral board to remove from the region's public buildings the large ribbons, which are a protest at the imprisonment and trial of separatist leaders for their role in a failed attempt to declare independence in 2017.

Quim Torra, Catalonia's regional president who always wears a small yellow ribbon in his lapel, has asked the board for more time to remove the symbols after a deadline passed.

Pablo Casado, the leader of Spain's main opposition Popular Party, on Wednesday called on Prime Minister Pedro Sanchez to take a tougher stance against Catalan separatists.

Source: Fox News World

0 0

Man who tipped bar staff $22G arrested for intoxication, possession of firearm while drunk, reports say

A Tennessee man was arrested on public intoxication charges Monday after giving $22,000 in tips to the staff at a Nashville hotel’s bar, according to reports.

The suspect, identified as Joel Boyers, 39, of Bellevue, had waitresses competing over who would serve him, Nashville’s FOX 17 reported.

Hotel records show He’d purchased more than a dozen drinks from the minibar in his room and bought two more drinks at the hotel bar, the station reported.

OHIO JUDGE TELLS POLICE 'I AM SO INTOXICATED' AFTER ARREST FOR SUSPECTED DRUNKEN DRIVING, VIDEO SHOWS

Police were called to the scene after some of Boyers’ friends reported that they’d received strange texts from him, including claims that he’d taken drugs and was carrying a gun while drinking, the Tennessean of Nashville reported.

“He also made bizarre statements about giving away his child on Facebook,” an arrest affidavit says, according to the report.

CLICK HERE TO GET THE FOX NEWS APP

Police said Boyers told them he’d been drinking all day and had smoked marijuana as well.

The suspect handed his weapon to police, removing it from his pants pocket.

Boyers was booked into a Davidson County jail but was released after posting bond. He is due in court in March, according to the report.

Source: Fox News National

NOW ON AIR
Now On Air

Liberty #MAGAOne Mix

Via MAGA One Mix

6:00 am 8:00 am



Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist