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Australia’s One Nation sought funds from U.S. gun lobby: report

Australian senator Pauline Hanson talks with members of the media at a driving safety event in the northern Australian town of Townsville in Queensland
Australian senator Pauline Hanson talks with members of the media at a driving safety event in the northern Australian town of Townsville in Queensland, Australia, November 10, 2017. Picture taken November 10, 2017. REUTERS/Jonathan Barrett

March 26, 2019

(Advisory: Attention language in paragraph 12)

SYDNEY (Reuters) – Australia’s nationalist One Nation party allegedly sought millions of dollars from the U.S. gun lobby and discussed weakening the country’s strict gun control laws with the U.S. National Rifle Association (NRA), Al Jazeera reported.

Posing as the head of a fake Australian pro-gun lobby, Al Jazeera secretly filmed top officials from Pauline Hanson’s One Nation allegedly meeting NRA executives in Washington in 2018.

It also reported the One Nation officials discussing the possibility of raising A$20 million ($14.22 million) prior to a meeting with a U.S. gun lobby supporter.

Concerned about foreign influence in Australian politics, particularly from China, the government introduced laws banning foreign political donations in November last year. The One Nation meetings took place in September.

“Reports that senior One Nation officials courted foreign political donations from the U.S. gun lobby to influence our elections and undermine our gun laws that keep us safe are deeply concerning,” Australian Prime Minister Scott Morrison Tweeted on Tuesday.

One Nation confirmed in a statement their two representatives attended the meetings, but there was no evidence in the Al Jazeera TV report, aired late on Monday, that a donation was made.

Calls and emails to the NRA headquarters in Virginia were not immediately returned.

Australia has some of the world’s strictest firearm laws, implemented after a lone gunman killed 35 people at Port Arthur on the island state of Tasmania in 1996.

Australia banned semi-automatic weapons, launched a firearm buy-back scheme after the massacre, and imposed strict licensing rules which require weapons to be locked up when not in use.

Al Jazeera said the report was three years in the making.

In the report, One Nation’s chief-of-staff James Ashby and Queensland state leader Steve Dickson can be seen allegedly telling NRA officials that with its help the party could win enough seats to gain the balance of power in Australia’s upper house of parliament.

“We get the balance of power, very simply that means that we have the testicles of the government in our hand at every given stage,” says Dickson. “Guns, in the scheme of things, are still going to be the be-all and end-all.”

In another meeting with a U.S. gun lobby supporter, Dickson says: “It’s going to get down to money at the end of the day. We can change the voting system in our country, the way people operate, if we’ve got the money to do it.”

Ashby confirmed One Nation had been invited to attend the meetings but he accused Al Jazeera of interfering in Australia’s looming national election, due in May.

“The matter has been referred to ASIO (the Australian Security Intelligence Organisation) and the Australian Federal Police due to concerns of foreign interference into Australian politics in the lead-up to the imminent federal election,” Ashby said in the emailed statement.

The footage allegedly records an NRA lobbyist telling both Dickson and Ashby that it would benefit the U.S. pro-gun movement if Australia’s gun laws were relaxed.

“That helps us because the biggest argument we get from folks is, ‘Well look at Australia’,” he says.

The role of One Nation in promoting right-wing nationalism in Australia has come under the spotlight in recent days following the killing of 50 Muslims in New Zealand, allegedly by an Australian white supremacist.

Nationalists have struggled to gain a significant voting bloc in Australia’s parliament, although One Nation did wield considerable influence in the upper house between 2016 and 2018.

The party fractured last year with several resignations, but it is hoping to regroup at the coming national election, with its support base largely rural voters disillusioned with the major parties which they accuse of being city-focused.

(Reporting by Colin Packham; Editing by Michael Perry and Sam Holmes)

Source: OANN

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UConn tops Buffalo, rolls into another Sweet 16

NCAA Basketball: NCAA Tournament-Second Round-Buffalo vs UConn
Mar 24, 2019; Storrs, CT, USA; UConn Huskies forward Napheesa Collier (24) makes the basket against Buffalo Bulls guard Autumn Jones (13) during the first half in the second round of the 2019 NCAA Tournament at Gampel Pavilion. Mandatory Credit: David Butler II-USA TODAY Sports

March 25, 2019

Napheesa Collier collected 27 points and 16 rebounds as second-seeded Connecticut advanced to the Sweet 16 for the 26th straight year on Sunday with an 84-72 victory over 10th-seeded Buffalo in an NCAA Women’s Tournament Albany Region game at Storrs, Conn.

Collier shot 12-for-15 from the floor for the Huskies (33-2), who bolted out of the blocks with a 15-0 run and survived some anxious moments in the fourth quarter to record their 94th consecutive home win.

Katie Lou Samuelson and Christyn Williams each scored 17 points and Crystal Dangerfield added 11 for Connecticut, which will face the winner of Monday’s contest pitting third-seeded Maryland (29-4) against sixth-seeded UCLA (21-12).

Buffalo’s Cierra Dillard overcame a sluggish start to score 29 points before being hampered by an apparent ankle injury in the fourth quarter. Adebola Adeyeye, Theresa Onwuka and Brittany Morrison each had five offensive rebounds for the Bulls (24-10), who were bidding for their second consecutive Sweet 16 appearance and third overall.

Dillard drilled a 3-pointer to trim the deficit to 13 at 73-60 with 8:46 to go in the fourth quarter, but Collier answered with a layup. Dilliard was injured on next possession after stepping on the foot of Collier and remained on the floor for several moments before exiting under her own power.

Collier’s layup gave the Huskies a 75-60 lead with exactly eight minutes to go, but the team went 1-for-9 with five turnovers during the next 5:45 as Buffalo crept within eight points.

Collier ended the drought with a layup and an injured Dillard scored four quick points — two one each side of Megan Walker’s layup. Connecticut made its free throws down the stretch to seal the win.

Collier scored six quick points and the Huskies took advantage of six Buffalo turnovers to take a commanding 15-0 lead to start the game.

Williams drilled back-to-back 3-pointers to push Connecticut’s lead to 21-4, but Buffalo answered by scoring the final nine points of the first quarter to cut the deficit to 27-15.

The Huskies threatened to run away as Samuelson scored five straight points during a 21-9 run to push the advantage to 48-24. Buffalo, which had 11 offensive rebounds in the first half, continued to work the glass and went on a 13-4 run prior to intermission.

–Field Level Media

Source: OANN

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Trump’s Golan move causes concern in Lebanon for land owners

Akram Kanaan looked toward an Israeli military position on a snow-capped mountain that overlooks the village of Chebaa in southern Lebanon, pointing toward the scenic area captured by Israel more than five decades ago. No matter how long it takes, he says, it will eventually return to Lebanon's sovereignty.

Like many others in this area where the borders of Lebanon, Syria and Israel meet, Kanaan — a member of Chebaa's municipal council — is angry about President Donald Trump's decision to recognize Israel's sovereignty over the occupied Golan Heights, seized from Syria in 1967 and annexed in 1981. The American president has no right to give Israel lands that belong to Syria and Lebanon, he says.

"These are Arab territories that will be liberated sooner or later the way the south was liberated," said Kanaan standing near Chebaa's main school as its buses left the compound at the end of a school day.

Trump's move last month has caused concern among Lebanese officials that it would mean also recognizing the occupied Chebaa Farms and nearby Kfar Chouba hills, captured along with the Golan, as Israeli territory. Lebanese President Michel Aoun said the U.S. recognition undermines Lebanon's claim to the territory.

The origin of the dispute over ownership of the Chebaa farms dates back to the French colonial period, when France drew maps of the area without officially demarcating the border.

Following an 18-year occupation, Israel withdrew from south Lebanon in 2000, but held on to the farms. Hezbollah claimed the withdrawal to be incomplete and demanded, along with the Lebanese government, that Israel withdraws. Israel rejected the demands, saying the land was Syrian when it was captured in 1967. Syria has held an ambiguous position and generally refuses to demarcate the border before Israel withdraws from the Golan.

The U.N., which doesn't recognize Israel's sovereignty over the Golan, has said Lebanon's claim is to be settled along with the Golan's fate.

The territory is controversial, even among Lebanese themselves.

Although most Lebanese agree that the Chebaa Farms and Kfar Chouba hills are part of their country, anti-Syrian politicians have suggested it serves as a pretext for Hezbollah to hang on to its weapons and have called for the demarcation of the Lebanon-Syria border, a demand repeated by Prime Minister Saad Hariri on Wednesday even as he said the territory is Lebanese.

Politicians allied with the Syrian government say there is no need for such demarcation.

The area this week looked more like a tourist attraction, albeit deserted, rather than a front line, with rivers and springs flowing, birds chirping and shepherds leading their herds in the mostly green area amid clear weather.

According to Kanaan, the total size of the Lebanese area still occupied by Israel since June 1967 is about 250 square kilometers (96 square miles) or about 2.5% of Lebanon's total territories.

Kanaan says the occupied area is owned by Lebanese citizens and that many of them have documents proving their ownership registered in the Lebanese coastal city of Sidon, the provincial capital of south Lebanon.

Arab countries have unanimously rejected the U.S. recognition of Israeli control over the Golan, calling the Trump administration's policies unfairly biased toward Israel.

On the edge of Chebaa, shepherds were seen taking their herds of sheep and goats near a fence built by Israel. About every 100 meters (109 yards) white and blue barrels marked the so-called blue line, or the border that the U.N. drew after Israel's withdrawal in 2000.

The area has been calm since August 2006 after a U.N. Security Council resolution ended a 34-day war between Israel and Lebanon's Hezbollah group.

Soldiers at Lebanese army checkpoints on roads leading to Chebaa and Kfar Chouba checked the identity cards of people visiting the area to make sure no strangers enter. White U.N. vehicles with light blue flags could be seen along the fence that marks the border.

Near al-Naqar lake, three U.N. peacekeepers stood outside their armored personnel carrier keeping an eye on any suspicious move. Next to them stood a giant poster with a picture of late Egyptian President Gamal Abdul-Nasser and one of his famous quotes that reads: "What was taken by force can only be regained by force."

Andrea Tenenti, spokesperson for the U.N. force in southern Lebanon known as UNIFIL, said the issue of Chebaa is one that is "discussed in New York at U.N. headquarters and not part of our mandate. Nevertheless, the position of member states is not necessarily the position of the United Nations," Tenenti said when asked about Trump's decision.

"Nothing has changed, and we are continuing with our work in the south of Lebanon, to monitor the cessation of hostilities and to work closely with the Lebanese army," he said.

In nearby Kfar Chouba, shops were open in its main square where a group of people gathered at the main bakery, while others bought freshly picked vegetables and fruits.

"With deep regret, this guy who is called Trump who is the president of the United States of America, the most important country in the world, is acting like a thug," said grocer Riad Khalifeh who was 23 when Israeli forces captured the hills overlooking his hometown of Kfar Chouba in 1967.

"Who gave you the right to give a land that belongs to me or to Palestine or to Syria to an enemy that is occupying it?" Khalifeh asked.

Source: Fox News World

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Indians head to the polls with PM Modi the front runner

FILE PHOTO: Indian Prime Minister Narendra Modi gestures as he speaks after releasing BJP's election manifesto for the April/May general election, in New Delhi
FILE PHOTO: Indian Prime Minister Narendra Modi gestures as he speaks after releasing India's ruling Bharatiya Janata Party (BJP)'s election manifesto for the April/May general election, in New Delhi, India, April 8, 2019. REUTERS/Adnan Abidi/File Photo

April 10, 2019

By Devjyot Ghoshal

NEW DELHI (Reuters) – Tens of millions of Indians will begin queuing on Thursday to cast their ballots in the first phase of a mammoth general election at which Prime Minister Narendra Modi is seen as the front-runner, campaigning on his national security record.

Voting in the first of seven rounds will be held in 91 constituencies across 20 states and federally-administered regions, amid tightened security, stepped up after violence killed seven people on Tuesday.

Pollsters say Modi’s ruling Hindu nationalist Bharatiya Janata Party (BJP) has been riding high on his tough stance against Pakistan, after aerial clashes between the nuclear-armed neighbors followed a February attack by an Islamist militant group that killed 40 Indian paratroopers in disputed Kashmir.

But the main opposition Congress party, which wrested three major farming states from the BJP in December by promising to waive the outstanding loans of distressed farmers, sought to corner the government on a lack of jobs and weak farm prices.

The election was open but in favor of Modi’s coalition, said Gilles Verniers, a political science professor at Ashoka University near New Delhi.

“The gap between Congress and the BJP is still enormous, so no one is seriously thinking that Congress is going to fill that gap,” he added. “The opposition landscape remains heavily fragmented.”

The alliance led by Modi’s BJP is poised to win a narrow majority of 273 of the 543 seats at stake, an average of four opinion polls showed.

In the 2014 general election, the party won a landslide 282 seats, securing a clear majority for the first time in decades and raising hopes of economic reform after a period of sluggish growth.

In the northern state of Uttar Pradesh, which sends more lawmakers to parliament than any other, Ajesh Kumar, who runs a roadside restaurant, said he voted for the BJP in 2014, when Hindu-Muslims riots in the area killed at least 65 people, and would do so again.

“But jobs are a problem here,” he said, echoing government and private statistics https://in.reuters.com/article/india-economy-jobs/indias-february-jobless-rate-climbed-to-72-percent-cmie-idINKCN1QM1NT that show Modi’s government has failed to create enough jobs for the burgeoning workforce in a population of 1.3 billion.

More than 142 million Indians are eligible to vote in the first phase, of a total of 898.9 million. Votes in the seven rounds, spread over 39 days, will be counted on May 23.

From sugar farmers in northern India going unpaid for produce, to small businesses in the south shut because they are unable to meet the requirements of a new, unifying national tax, discontent over the economy has brewed for months.

A Reuters analysis https://graphics.reuters.com/INDIA-ELECTION-PROMISES/010091DR1ZR of 50 pledges from the BJP’s 2014 manifesto showed Modi only partly fulfilled, or did not fulfill, most promises on the economy and business.

Congress, which won only 44 seats last time around, is betting a promise of monthly handouts of 6,000 rupees ($86.59) for the poorest families will boost its performance now.

It hopes to win enough seats to lure regional parties opposed to Modi to back it after the election and form the government.

(Reporting by Devjyot Ghoshal; Additional reporting by Aftab Ahmed; Editing by Krishna N. Das and Clarence Fernandez)

Source: OANN

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Man accused of having 3 wives in 3 states awaits extradition

Maine prosecutors say New Hampshire will have first dibs on a man who is accused of being married to three women in different states.

Forty-three-year-old Michael Middleton is being held in Ohio while awaiting extradition to New Hampshire, where he's charged with bigamy. Officials say he married a New Hampshire woman while also being married to women in Alabama and Georgia.

But Maine prosecutors tell the Journal Tribune he's also wanted in Maine for charges of domestic violence assault and violation of a protective order in York County. They say he's also wanted for failure to pay a fine for operating under the influence and operating without a license in Presque Isle.

Middleton was arrested in Franklin County, Ohio. It's not known if he has an attorney.

Source: Fox News National

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Waymo picks Detroit factory for self-driving fleet, to be operational by mid-2019

Waymo CEO John Krafcik speaks on stage during the annual Google I/O developers conference in Mountain View
FILE PHOTO: Waymo CEO John Krafcik speaks on stage during the annual Google I/O developers conference in Mountain View, California, May 8, 2018. REUTERS/Stephen Lam

April 23, 2019

By Alexandria Sage

SAN FRANCISCO (Reuters) – Alphabet Inc’s Waymo said on Tuesday it had chosen a factory in Detroit to mass produce self-driving cars, looking to the historical heart of the auto industry to build the vehicles of the future.

The company’s chief executive, John Krafcik, said in a blog post that Waymo would partner with American Axle & Manufacturing to lease and repurpose an existing Detroit facility that will be operational by mid-2019.

Waymo said in January it had chosen Michigan for its first production facility, adding it would receive incentives from the public-private partnership agency, the Michigan Economic Development Corporation, and create up to 400 jobs over time exclusively related to self driving.

In a sea of rivals, Waymo is generally thought of as ahead in the self-driving race. It already operates a robotaxi service in Arizona that it plans to expand geographically over time.

Global automakers, large technology companies and startups are all engaged in self-driving efforts, but experts expect it will be years before systems are ready to be rolled out in all areas, with software and regulations among the many challenges.

Waymo is competing with rivals General Motors and Uber Technologies to deploy such vehicles for the masses. Tesla CEO Elon Musk has also announced the company plans to launch a robotaxi service in 2020.

Waymo, which has been working on self-driving technology for a decade, provided few new details.

It currently retrofits Chrysler Pacifica minivans to use in its robotaxi fleet.

In March 2018, Waymo said it would diversify the fleet, partnering with Jaguar to produce up to 20,000 vehicles by 2022, able to conduct about 1 million trips per day.

American Axle, with which Waymo is partnering for its Detroit facility, was formed in 1994 when an investment team purchased five plants that General Motors had put up for sale.

GM plans to end output at its last Detroit factory next year, after announcing in November a plan to halt production at five North American assembly plants and cut about 15,000 jobs.

Fiat Chrysler, however, said in February it would invest $4.5 billion in five plants and create 6,500 jobs in Michigan.

In January, Waymo said it planned to hire engineers, operations experts, fleet coordinators and others to retrofit vehicles with its self-driving technology.

Both GM and Ford Motor Co have said they will build autonomous vehicles at Michigan factories.

(Additional reporting by David Shepardson in Washington; Editing by Himani Sarkar)

Source: OANN

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Colorado schools reopen as FBI examines teen suspect’s past

The suicide of a Florida teenager who authorities say was obsessed with the Columbine shooting and may have planned to carry out her own attack will not end an investigation to determine if she had any accomplices, officials said as Denver schools reopened Thursday and preparations to mark the 20th anniversary of the tragedy resumed.

The body of 18-year-old Sol Pais was discovered Wednesday in the mountains outside Denver with what appeared to be a self-inflicted gunshot wound after investigators got a tip from a driver who took her there, the FBI said.

Dozens of schools that closed as a precaution during the daylong manhunt reopened their doors with heightened security measures. Events planned to mark the anniversary of the 1999 Columbine attack will go on as scheduled throughout the week, starting with a church service Thursday night and culminating with a ceremony near the school on Saturday.

Two teenagers attacked Columbine on April 20, 1999, killing 12 classmates and a teacher before taking their own lives. They have inspired cult-like admirers, some of whom committed other mass shootings over the decades.

A growing "no notoriety" movement has urged news organizations to avoid naming the perpetrators of mass shootings to deprive them of the notoriety they seek.

The details of Pais' travel from Florida to Colorado began to emerge Wednesday along with some classmates' confusion about her involvement. The Miami Beach High School student dressed in black and kept mostly to herself, said Adam Charni, a senior at the school.

He said he was "baffled" to learn Pais was the person authorities in Colorado were seeking. Another classmate, 17-year-old Drew Burnstine, described Pais as quiet and smart.

Dean Phillips, FBI agent in charge in Denver, said Pais had made troubling remarks to others about her "infatuation" with the assault at Columbine and its anniversary. He did not elaborate.

Investigators will try to learn more from Pais' social media and other online activity, largely to ensure that she had no accessories or accomplices, Phillips said. He confirmed the material being scrutinized includes a blog containing hand-written journal entries that occasionally feature sketches of guns or people holding large firearms.

In Pais' hometown of Surfside, Police Chief Julio Yero asked that the family be given "privacy and a little time to grieve." Pais' parents had reported her missing on Monday night, police said.

"This family contributed greatly to this investigation from the very onset," Yero said. "They provided valuable information that led us to Colorado and a lot of things that assisted in preventing maybe more loss of life."

Pais had purchased three one-way tickets to Denver on three consecutive days. She arrived Monday night and went directly to a gun store, where she bought a shotgun, authorities said.

They said she did not threaten a specific school. Still, Columbine and more than 20 other schools outside Denver locked their doors for nearly three hours Tuesday afternoon, and some canceled or moved evening activities inside.

"We're used to threats, frankly, at Columbine," John McDonald, security chief for the Jefferson County school system, said when the manhunt was over. "This one felt different. It was different. It certainly had our attention."

McDonald described Pais' trip as a "pilgrimage" to Columbine, though she is not believed to have been on the campus.

The threats and response added an emotional burden for many with ties to the Columbine community ahead of the anniversary.

Frank DeAngelis, Columbine's principal at the time of the shooting, said he was on campus Tuesday when the threat prompted the locking of the doors. He immediately went to check on several staff members who still work there 20 years after the attack.

"The support was so great," he said. "Everybody came together."

Denver-area parents faced the difficult job of explaining to their children — without scaring them — why they had the day off school.

"This is definitely a challenge in their generation, and watching my kids learn how to navigate this is really hard. It is really heartbreaking," said Suzanne Kerns of suburban Arvada, whose children are 8 and 15.

Kerns said she was angry about how easy it was for someone reported missing to come from out of state and buy a gun.

Jefferson County Sheriff Jeff Shrader said the sale of the shotgun apparently followed the state's legal process. Out-of-state residents who are at least 18 can buy shotguns in Colorado. Customers must provide fingerprints and pass a criminal background check.

Pais' body was found off a trail not far from the base of Mount Evans, a recreation area about 60 miles (97 kilometers) southwest of Denver, authorities said. She used the weapon she bought, Phillips said.

___

Associated Press writers Ellis Rua in Miami Beach, Florida, and James Anderson and Thomas Peipert in Denver contributed to this report.

Source: Fox News National

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

Source: OANN

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FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain
FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

April 26, 2019

(Reuters) – Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

(Reporting by Joshua Franklin; editing by Patrick Graham)

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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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