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Myanmar’s Suu Kyi woos investors to crisis-hit Rakhine, decries ‘negative’ focus

Investors study a poster about the Rakhine State Investment Fair at Ngapali beach in Thandw
Investors study a poster about the Rakhine State Investment Fair at Ngapali beach in Thandwe, Rakhine, Myanmar February 21, 2019. REUTERS/Ann Wang

February 22, 2019

By Simon Lewis

NGAPALI BEACH, Myanmar (Reuters) – Myanmar leader Aung San Suu Kyi called for investment in the crisis-hit western state of Rakhine on Friday, saying the world had “focused narrowly on negative aspects” in the state from which some 730,000 Rohingya Muslims have fled since 2017.

On a rare visit to Rakhine, Suu Kyi emphasized responsible business practices as she addressed an investment fair sponsored by Japan in the coastal state’s tourist hotspot of Ngapali beach.

But she made only a brief reference to the conflicts that have roiled areas several hundred kilometers to the north and did not mention the Rohingya. As well as those stuck in Bangladesh, hundreds of thousands of Rohingya and other Muslims remain trapped in camps and villages in Rakhine, where their movements and access to services are restricted.

“For too long the international community’s attention has been focused narrowly on negative aspects related to problems in north Rakhine rather than on the larger picture that shows the immense potential of this state for peace and development,” Suu Kyi said.

Her government recognized the “grave challenges” it faced in Rakhine and was doing its utmost to address them, she said.

The Nobel laureate has pledged to make Myanmar more investment-friendly as her government attempts to reverse a drop in foreign investment and tourism from the West since the Rohingya exodus sparked global outrage.

A U.N. fact-finding mission last year said the 2017 military campaign that pushed out the Rohingya was orchestrated with “genocidal intent”. Myanmar denies allegations of mass killings and rape, and says its offensive was a legitimate response to an insurgent threat and that it is welcoming the refugees back.

The investment fair was attended by Myanmar officials, U.N. staff and investors and diplomats mostly from Japan, South Korea and elsewhere in Asia.

Domestic and foreign investment could play a crucial role in the state, Suu Kyi said, but warned against irresponsible investments like “unchecked expansion of commercial fishery projects” that could damage Rakhine’s coastal mangrove forests.

Some experts warn a focus on economic solutions to Rakhine’s problems could cement the marginalization of the mostly stateless Rohingya.

A Reuters special report in December revealed that officials had built new homes for Buddhists where the Rohingya once lived, making the return of many refugees to their original homes impossible. (Link: https://www.reuters.com/investigates/special-report/myanmar-rohingya-return)

Myanmar says it has been ready to accept returning refugees since January and denies discriminating against Muslims who remain in Rakhine.

(Reporting by Simon Lewis; Editing by Nick Macfie)

Source: OANN

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Trump extends humanitarian program for Liberian immigrants

President Donald Trump is extending a humanitarian program that allows Liberians to live and work in the U.S.

The White House said Thursday that Trump signed a one-year extension of the program for immigrants who came from the African nation to escape environmental disasters and war. The status for thousands of Liberians had been set to expire Sunday.

The Republican president decided last year to end the program dating to 2007. He said it wasn't needed because conditions in Liberia have improved.

Two civil rights organizations sued in Boston this month on behalf of 15 Liberian immigrants.

Trump now says a "12-month wind-down period" for the program is appropriate.

U.S. Sen. Jack Reed, a Rhode Island Democrat, wants Congress to enact a more permanent legislative resolution.

Source: Fox News National

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Malaysia to decide fate of Malaysia Airlines ‘soon’, PM says

FILE PHOTO: Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport
FILE PHOTO: Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport July 21, 2014. REUTERS/Edgar Su

March 12, 2019

KUALA LUMPUR (Reuters) – The Malaysian government is considering whether to shut, sell or refinance national carrier Malaysia Airlines (MAB), Prime Minister Mahathir Mohamad said on Tuesday.

The government was studying options for the national carrier, and a decision should be made “soon”, Mahathir said, when asked about analysts’ suggestions the airline be shut down or spun off.

“It is a very serious matter to shut down the airline,” Mahathir told a news conference at parliament.

“We will nevertheless be studying and investigating as to whether we should shut it down or we should sell it off or we should refinance it. All these things are open for the government to decide.”

The airline has been trying to transform its operations and return to profitability by 2019 as it recovers from two disasters in 2014, when flight MH370 disappeared in what remains a mystery and flight MH17 was shot down over eastern Ukraine.

Sovereign wealth fund Khazanah Nasional Bhd, which took MAB private in 2014, said the government needed to decide on its investment in, and level of support for, the struggling airline.

The fund also said that it was waiting for MAB to present a review of its business strategy.

(Reporting by Liz Lee; Editing by Robert Birsel)

Source: OANN

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Explainer: Can a sitting U.S. president face criminal charges?

FILE PHOTO: U.S. President Donald Trump speaks during campaign rally at Mohegan Sun Arena in Wilkes-Barre, Pennsylvania
FILE PHOTO: U.S. President Donald Trump speaks during campaign rally at Mohegan Sun Arena in Wilkes-Barre, Pennsylvania, U.S., August 2, 2018. REUTERS/Leah Millis/File Photo

February 26, 2019

By Jan Wolfe

WASHINGTON (Reuters) – The U.S. Constitution explains how a president can be removed from office for “high crimes and misdemeanors” by Congress using the impeachment process. But the Constitution is silent on whether a president can face criminal prosecution in court, and the U.S. Supreme Court has not directly addressed the question.

The question looms large with Special Counsel Robert Mueller preparing a report on his investigation into Russia’s role in the 2016 U.S. election, whether President Donald Trump’s campaign conspired with Moscow and whether Trump unlawfully sought to obstruct the probe.

The U.S. Justice Department has a decades-old policy that a sitting president cannot be indicted, indicating that criminal charges against Trump would be unlikely, according to legal experts.

Here is an explanation of the rationale behind the Justice Department policy and whether it applies to Mueller.

WHAT IS THE JUSTICE DEPARTMENT POLICY?

In 1973, in the midst of the Watergate scandal engulfing President Richard Nixon, the Justice Department’s Office of Legal Counsel adopted in an internal memo the position that a sitting president cannot be indicted. Nixon resigned in 1974, with the House of Representatives moving toward impeaching him.

“The spectacle of an indicted president still trying to serve as Chief Executive boggles the imagination,” the memo stated.

The department reaffirmed the policy in a 2000 memo, saying court decisions in the intervening years had not changed its conclusion that a sitting president is “constitutionally immune” from indictment and criminal prosecution. It concluded that criminal charges against a president would “violate the constitutional separation of powers” delineating the authority of the executive, legislative and judicial branches of the U.S. government.

“The indictment or criminal prosecution of a sitting President would unconstitutionally undermine the capacity of the executive branch to perform its constitutionally assigned functions,” the memo stated.

The 1973 and 2000 memos are binding on Justice Department employees, including Mueller, according to many legal experts. Mueller was appointed in May 2017 by the department’s No. 2 official Rod Rosenstein.

But some lawyers have argued that the nation’s founders could have included a provision in the Constitution shielding the president from prosecution, but did not do so, suggesting an indictment would be permissible. According to this view, immunity for the president violates the fundamental principle that nobody is above the law.

Nixon himself in 1977 offered an opposite view when he told interviewer David Frost, “Well, when the president does it that means that it is not illegal.”

COULD MUELLER INDICT TRUMP DESPITE THE EXISTING POLICY?

Possibly. The Justice Department regulations governing Mueller’s appointment allow him to deviate from department policy in “extraordinary circumstances” with the approval of the U.S. attorney general, the nation’s top law enforcement official. Trump appointee William Barr currently holds that post.

Some legal experts have suggested Mueller could invoke this exception if he has uncovered serious wrongdoing and lacked confidence in the ability of the divided Congress to hold Trump accountable. Some lawyers also have said Mueller is not bound by the 1973 and 2000 memos because he is not a typical employee of the department.

Ken Starr, who investigated President Bill Clinton in the 1990s in the somewhat different role of independent counsel, in 1998 conducted his own analysis of the question of whether a sitting president can be indicted, indicating he did not consider the 1973 Justice Department memo binding on him.

Starr did not indict Clinton in his investigation involving the president’s relationship with a White House intern named Monica Lewinsky, but lawyers in his office concluded he had the authority to do so, according to a once-secret internal memo made public by the New York Times in 2017.

After the independent counsel statute under which Starr was named expired in 1999, the Justice Department devised procedures governing the appointment of special counsels to handle certain investigations. Mueller was named after Trump fired FBI Director James Comey, who had been overseeing the agency’s Russia probe.

COULD TRUMP BE REMOVED FROM OFFICE AND THEN PROSECUTED?

Yes. There is no debate over whether a former president can be indicted for conduct that occurred while in office. In fact, President Gerald Ford, who succeeded Nixon after his resignation, was mindful of this when he granted “a full, free, and absolute pardon unto Richard Nixon for all offenses against the United States which he, Richard Nixon, has committed or may have committed.”

The statute of limitations – restricting the time within which legal proceedings such as a prosecution may be brought – may work to Trump’s benefit if he is re-elected in 2020 and serves a full two four-year terms as president until January 2025.

Many federal crimes have a five-year statute of limitations, meaning prosecutors have five years from the date the conduct at issue occurred to bring an indictment. That means criminal charges against a re-elected Trump could be time-barred.

Some lawyers have said that, as a matter of fairness, the normal rules on timeliness of charges should not apply to the president. The issue potentially could be resolved in the courts.

(Reporting by Jan Wolfe; Editing by Will Dunham)

Source: OANN

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Democrats Getting Ready To Rig 2020 Election

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Source: InfoWars

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Would a political Fed rescue the world?

FILE PHOTO: FILE PHOTO: FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo/File Photo/File Photo

April 14, 2019

By Howard Schneider

WASHINGTON (Reuters) – As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars.

The “swap lines” that the Fed quickly approved helped ease intense financial stress in foreign markets, but also showed the U.S. central bank was prepared to stand behind the global system.

Would an “America First” Fed do the same?

The question is suddenly relevant for global economic officials and central bankers after moves by President Donald Trump to put two strong partisans on the Federal Reserve board.

Both economic commentator Stephen Moore and businessman Herman Cain have been critical of Fed policies, and Moore in particular has opposed the extraordinary measures employed to stabilize the economy through the deepest crisis since the Great Depression.

Should Trump shape a Fed that answers first to his politics, it could roil the landscape for other central banks, and for a dollar-dependent world financial system whose fortunes can swing dramatically based on Fed decisions.

“I’m certainly worried about central bank independence in other countries, especially … in the most important jurisdiction in the world,” said European Central Bank President Mario Draghi, in Washington for spring meetings of the International Monetary Fund and World Bank.

SENSITIVE MOMENT

Trump’s decision to consider close political allies for the central bank comes at a sensitive moment for the world economy and the IMF. Fund Managing Director Christine Lagarde last week asked member countries to strive to “do no harm,” yet its largest shareholder, the United States, has become a concern.

Trump’s ongoing trade battles have been cited as a reason global growth is slowing, and the idea of a Fed stacked with officials looking first at the U.S. political calendar has overseas central bankers nervous.

The IMF has commended the steady evolution of Fed policy under chairman Jerome Powell, but Trump has demanded he cut rates and Moore has endorsed the idea.

The actions of one central bank often impacts the economies of other nations. But the rule of thumb is to set policy as much as possible on the basis of detached analysis, not to gain a short-term trade or political advantage.

If the Fed were to cut rates to counter a U.S. slowdown, it would be one thing. But juicing a mostly healthy economy to make Trump look good would send a bad signal – and hurt countries that are grappling with their own economic problems.

Lower rates could weaken the dollar, boosting U.S. exports and appealing to a core Trump campaign aim of expanding U.S. manufacturing jobs. But it would make it harder for the Bank of Japan to follow its own strategy of targeting specific levels for long-term bond yields, and undercut growth in Europe that the European Central Bank is trying to support. Emerging markets could see destablizing capital flows.

“Can a politicized Fed be relied on to do what it did in 2008, when it was lender of last resort for the world? You would really have to worry about this – that rather than be the strongest proponent of stability, the Fed all of a sudden becomes an agent of instability,” said Jacob Funk Kirkegaard, a senior fellow at the Peterson Institute for International Economics.

Already some of Trump’s policies have European financial leaders thinking about ways to boost the euro as a reserve currency on views the oversized influence of the dollar in global markets leaves Europe vulnerable to U.S. political decisions.

POOR HISTORY FOR POLITICIZED FED

Both Moore and Cain have yet to be nominated formally, and Cain’s prospects look bleak. Fed governors must be approved by the U.S. Senate, and enough Republican lawmakers have come out against Cain to scuttle his chances.

Moore, meanwhile, has sent mixed signals about his policies, but in general has criticized the Fed flooding markets with dollars during the crisis and its aftermath. He has favored tying the Fed to a strict rule, based on commodity prices. Critics of rule-based monetary policy cite its lack of flexibility to respond to unexpected events.

The Fed has had deeply political governors before, perhaps most notably in the 1980s when a group loyal to then-President Ronald Reagan opposed policy set by then-Chairman Paul Volcker, said William English, the former head of the Fed’s monetary affairs division and now a professor at Yale.

They didn’t succeed, English said, evidence of the influence of a strong Fed chair and of the limits an individual governor has in an institution with a strong technocratic bent, and on a policy panel that at peak strength includes 19 people. Twelve of them, moreover, are appointed by regional banks outside the president’s reach.

But before Volcker, he said, the Fed did mold policy around the demands of Presidents Lyndon Johnson and Richard Nixon, and arguably contributed to the runaway inflation of the 1970s.

“We did that experiment…The outcome was bad,” he said.

For the IMF and other global institutions, there’s a broader issue if the world’s dominant economy steers away from the norms recommended for other countries, as the Trump administration has already done on trade. Whether it is the potential for unhindered government borrowing or a politicized central bank, the United States may be writing a script that other, less resilient countries, may be tempted to follow.

“The Fund likes to live in a world….where all of its members are treated evenhandedly,” said Nathan Sheets, former under secretary of the Treasury for international affairs and now chief economist at PGIM Fixed Income. If the United States starts opening the Fed to partisan politics or shifting away from other norms, “that is a risk for them.”

(Additional reporting by Balazs Koranyi; Editing by Andrea Ricci)

Source: OANN

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Bristol-Myers says shareholders vote to approve Celgene takeover

FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured at the headquarters in Le Passage
FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured at the headquarters in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau/File Photo

April 12, 2019

NEW YORK (Reuters) – Bristol-Myers Squibb Inc’s shareholders voted to approve the drugmaker’s $74 billion takeover of biotech Celgene Corp on Friday despite a campaign by activist hedge fund Starboard Value LP to scuttle the deal.

The company said investors holding around 75 percent of its shares had voted in favor of the deal in a preliminary count.

The company also said during a shareholders meeting that it does not expect changes to the company’s dividend policy after the acquisition.

(Reporting by Michael Erman, writing by Caroline Humer; Editing by Chizu Nomiyama)

Source: OANN

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo

April 26, 2019

OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.

The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.

The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.

Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.

(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)

Source: OANN

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President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.

The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.

JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID

“I think we’d beat him easily,” Trump told reporters Friday.

Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.

“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”

The president’s comments seemingly were a shot at the age of Biden, who is 76.

BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT

“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”

Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.

Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.

Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”

Source: Fox News Politics

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

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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