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Khamenei appoints new chief for Iran’s Revolutionary Guards

FILE PHOTO: Iran's Supreme Leader Ayatollah Ali Khamenei speaks live on television after casting his ballot in the Iranian presidential election in Tehran
FILE PHOTO: Iran's Supreme Leader Ayatollah Ali Khamenei speaks live on television after casting his ballot in the Iranian presidential election in Tehran June 12, 2009. REUTERS/Caren Firouz/File Photo

April 21, 2019

By Parisa Hafezi

DUBAI (Reuters) – Iran’s top authority Supreme Leader Ayatollah Ali Khamenei has replaced the head of the influential Revolutionary Guards Corps, state TV reported on Sunday, days after the United States designated the elite group a foreign terrorist organization.

The TV station did not give a reason for the change when it announced the appointment of Brigadier General Hossein Salami to the position.

“The Supreme Leader has appointed Salami as the new commander-in-chief of the Guards, who will replace Mohammad Ali Jafari,” it said.

Major General Jafari had held the post since September 2007.

President Donald Trump on April 8 designated the Guards a terrorist organization, in an unprecedented step that drew Iranian condemnation and raised concerns about retaliatory attacks on U.S. forces. The designation took effect on April 15.

Tehran retaliated by naming the United States Central Command (CENTCOM) as a terrorist organization and the U.S. government as a sponsor of terrorism.

The IRGC, created by late Ayatollah Ruhollah Khomeini during Iran’s 1979 Islamic Revolution, is more than a military force. It is also an industrial empire with political clout and is loyal to the supreme leader.

Comprising an estimated 125,000-strong military with army, navy and air units, the Guards also command the Basij, a religious volunteer paramilitary force, and control Iran’s missile programs. The Guards’ overseas Quds forces have fought Iran’s proxy wars in the region.

The IRGC is in charge of Iran’s ballistic missile and nuclear programs. Tehran has warned that it has missiles with a range of up to 2,000 kms (1,242 miles), putting Israel and U.S. military bases in the region within reach.

Salami, born in 1960, said in January that Iran’s strategy was to wipe “the Zionist regime” (Israel) off the political map, Iran’s state TV reported.

“We announce that if Israel takes any action to wage a war against us, it will definitely lead to its own elimination,” Salami said after an Israeli attack on Iranian targets in Syria in January, Iranian media reported.

Israel sees Iran’s nuclear and ballistic missile programs as a threat to its existence. Iran says its nuclear work is for peaceful purposes only.

Israel, which Islamic Iran refuses to recognize, backed Trump’s move in May to quit a 2015 international deal on Iran’s nuclear program and welcomed Washington’s reimposition of sanctions on Tehran.

(Writing by Parisa Hafezi; editing by Emelia Sithole-Matarise, William Maclean)

Source: OANN

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From 'universal' income to Green New Deal, 15 far-out ideas from the 2020 Democratic field

Court packing? Reparations? Abolishing the Electoral College?

To all these questions and more, the response from 2020 Democratic presidential candidates is increasingly: Sure, let's talk about it.

For a Democratic presidential field shaping up to be the most liberal grouping of candidates in modern American history, it appears no idea is too far-reaching to at least consider. Some, like the Green New Deal, have become virtual litmus tests for the base that have been widely embraced by the field, while others are just starting to catch on.

At this early stage in the race, here are 15 of the most controversial ideas being pushed or considered by the 2020 Democratic roster.

Throw out the Electoral College

Stinging from an unexpected defeat in 2016, Democrats have cited the fact that Hillary Clinton won a plurality of the popular vote to revive calls to eliminate the Electoral College. Perhaps concerned about their own chances in swing states like Pennsylvania, Wisconsin and Michigan, 2020 hopefuls claim there's much wisdom to these calls.

FROM REPARATIONS TO GREEN NEW DEAL, LIBERAL LITMUS TESTS PUT 2020 DEMS IN RISKY TERRITORY

“I think there’s a lot to that. Because you had an election in 2016 where the loser got 3 million more votes than the victor,” Beto O’Rourke said last week.

“Every vote matters and the way we can make that happen is that we can have national voting, and that means get rid of the Electoral College,” Sen. Elizabeth Warren, D-Mass., said recently.

Such a push would likely require a constitutional amendment, making any changes doubtful any time soon.

Pack the Supreme Court 

Another idea that has gained post-2016 steam is the call to pack the Supreme Court with more judges.

Having once praised the court for decisions on gay marriage and ObamaCare during the Obama years, Democrats’ view has changed dramatically since President Trump has been able to appoint two justices to the court and swing it to the right.

Now, top 2020 Democrats say, the court is in need of an overhaul. Several Democrats, including O’Rourke and Sens. Warren, Cory Booker, D-N.J., Kamala Harris, D-Calif., and Kirsten Gillibrand, D-N.Y., have signaled their openness to expanding the number of judges on the court if they enter the White House.

In particular, they have cited Republican decisions to block confirmation hearings for Obama nominee Merrick Garland in 2016 and then confirm Justice Neil Gorsuch after Tump took office, and to lower the Senate-vote threshold to confirm high court nominees.

"First they steal a Supreme Court seat, and then they turn around and change the rules on the filibuster on a Supreme Court seat," Warren said in a recent radio interview. "So when it swings back to us what are we going to do? I think all the options are on the table."

“We are on the verge of a crisis of confidence in the Supreme Court,” Harris told Politico. “We have to take this challenge head on, and everything is on the table to do that.”

Reparations for slavery 

In recent weeks, O’Rourke, Harris and Warren, as well as former San Antonio Mayor Julian Castro, have come out in favor of at least considering reparations for black Americans from slavery.

The proposals have not been detailed, and it’s not clear if that would translate to cash payments. Harris suggested to The Grio that this could include a generic tax credit to families making under $100,000. Warren was prepared to go a step further, though, and told reporters in Manchester, N.H., last month that reparations for Native Americans should be “part of the conversation” as well.

Green New Deal 

The Green New Deal was once only discussed on the far-left fringes of the Democratic Party, but now almost all the Democratic front-runners back the proposal being pushed in Congress by freshman Rep. Alexandria Ocasio-Cortez, D-N.Y. -- even though senators voted "present" when it came to a test vote on Tuesday.

The ambitious resolution, which calls for “a new national social, industrial and economic mobilization on a scale not seen since World War II and the New Deal,” is cast as an opportunity to tackle systemic injustices toward minority groups, create millions of high-wage jobs and “provide unprecedented levels of prosperity and economic security for all people of the United States.”

But the proposal also includes a host of costly and controversial programs, including guaranteed jobs, a push for “net-zero greenhouse gas emissions,” and an undefined pledge of “access to nature.”

Gillibrand, Harris, Warren, as well as Sens. Amy Klobuchar, D-Minn., Cory Booker, D-N.J., and Bernie Sanders, I-Vt., all signed onto the resolution.

Medicare-for-all 

Less than 10 years after the Affordable Care Act was signed into law, Democrats are now arguing for full-blown single-payer, government-controlled health care.

While most 2020 Democrats have not laid out their proposals in detail, both Harris and Sanders have said people would not be able to keep their private plans in their proposal.

NEW 'MEDICARE-FOR-ALL' BILL WOULD LARGELY OUTLAW PRIVATE INSURANCE

“No,” Sanders told CNN when asked. “What will change in their plans is the color of their card. So, instead of having a Blue Cross/Blue Shield card, instead of having a United Health Insurance card, they're gonna have a Medicare card.”

It marks a stark contrast from former President Barack Obama’s push for ObamaCare -- during which he promised that if an American liked their plan, they could keep it, even though the policy didn't work out that way for everyone.

Lower the voting age 

O’Rourke said last Tuesday that he would consider lowering the voting age to 16.

“I’m open to the idea of a younger voting age. ... There’s some merit to it,”  he said in New Hampshire.

The idea, which has been backed by House Speaker Nancy Pelosi, D-Calif., would be a dramatic change to the electorate -- and one that would most likely favor Democrats.

So far, the idea has not caught on among many other Democrats, with only  Rep. Tulsi Gabbard, D-Hawaii and South Bend Mayor Pete Buttigieg backing the push. Booker, Harris and Klobuchar have entertained, but so far not endorsed, such a proposal.

Suspend the death penalty 

Both Colorado Gov. John Hickenlooper and Harris have said they would suspend the death penalty at the federal level if elected president.

“The vast majority of cases in the federal death penalty system, I’d have to be suspicious just to start,” Hickenlooper said at a CNN town hall last Wednesday. “I certainly would suspend the death penalty.”

Harris has also made a similar promise. Asked on NPR if she believes there should be a “moratorium” on the death penalty, she said: “Yes I do, I believe that.”

Eliminate the filibuster 

The Senate filibuster, requiring 60 votes (and therefore some degree of bipartisanship) to advance bills in the chamber, has been chipped away in recent years by both Democrats and Republicans. No longer are 60 votes required to confirm key nominees.

But Democrats, possibly with an eye on their own agenda that sees virtually no Republican support, are mulling getting rid of the filibuster for legislation.

“I think that that’s something that we should seriously consider,” O’Rourke told reporters on the campaign trail in New Hampshire last week.

“When you talk about changing the filibuster rule I understand that we are heading, right now, we are heading that way,” Booker said in an interview on "Pod Save America." “I’m going to tell you that for me that door is not closed.”

“Everything stays on the table. You keep it all on the table. Don’t take anything off the table,” Warren said when recently asked about scrapping the filibuster.

Social Security for illegal immigrants 

Gillibrand, as part of her call for “comprehensive immigration reform,” suggested that she wants to expand Social Security to those in the country illegally.

"First, we need comprehensive immigration reform," she said last week in Iowa. "If you are in this country now you must have the right to pay into Social Security, to pay your taxes, to pay into the local school system and to have a pathway to citizenship. That must happen."

Wealth tax 

Warren has called for a 2 percent “wealth tax” on Americans with more than $50 million in assets, and an additional 3 percent on those with more than $1 billion.

The call for a wealth tax, apart from a tax on income, marks a shift in policy for Democrats -- although it is in line with Warren’s firebrand rhetoric.

“It would make the ultra-rich pay their fair share & generate nearly $3 trillion over the next 10 years. A lot of rich and powerful people won’t like it – but I don’t work for them,” she said.

O'Rourke last week voiced support for Warren's idea.

Seven-day limit to opioids 

In an attempt to combat the nation’s opioid crisis, Gillibrand tweeted last week that she has introduced legislation to limit opioid prescriptions to seven days.

“If we want to end the opioid epidemic, we must work to address the root causes of abuse. That’s why @SenCoryGardner and I introduced legislation to limit opioid prescriptions for acute pain to 7 days,” she tweeted. “Because no one needs a month’s supply for a wisdom tooth extraction.”

While aiming to tackle one of the country's most serious health crises, the proposal was widely criticized as overly intrusive.

Unionize campaigns 

As candidates embrace calls for a higher minimum wage, health care for all, and other pro-worker policies, they have faced scrutiny about their treatment toward their own campaigns -- but now, some are embracing the unionization of their staffs.

Sen. Bernie Sanders, I-Vt., campaign team announced that some of their employees have unionized, touting that this makes them “the first major party presidential campaign in history to have a unionized workforce.”

While Sanders became the first candidate to go ahead with unionization, former San Antonio Mayor Julian Castro announced in January that he will pay all campaign workers, including interns, $15 an hour or more. Officials said they would support a union as well if staff chose to organize, according to The San Antonio Current.

Last Tuesday night, O'Rourke said that if campaign workers want to unionize, he would “support it all the way.”

"Absolutely, if those who work on this campaign, and who comprise what I hope will be the largest grassroots effort this nation has ever seen, want to unionize, I support that all the way," he told Fox News when asked if he supports unionization.

Tear down the border wall 

Democratic opposition to President Trump’s border wall is nothing new, but in recent months that opposition has accelerated, with candidates suggesting that not only would they oppose the wall -- they might tear it down.

During an interview in O'Rourke's hometown last month, MSNBC host Chris Hayes asked O'Rourke: "If you could, would you take the wall down here -- knock it down?"

"Yes, absolutely," he said, "I'd take the wall down."

"I could look at it and see which part he means and why and if it makes sense, I could support it,” Gillibrand told Fox News the next day.

That has seen opposition from Harris, who when asked about O'Rourke's response, said, "No, I believe that we need border security."

Abolish ICE 

The push to abolish Immigration and Customs Enforcement (ICE) has been cooking in Democratic circles since last year when the Trump administration implemented a “zero tolerance” policy on prosecuting all illegal border crossers.

Warren, Sanders and Gillibrand have all called to abolish the agency. O’Rourke and Harris, meanwhile, have talked about radically reforming or overhauling ICE, but have shied away from an outright call to abolish the agency.

Universal basic income 

Longshot presidential hopeful Andrew Yang is running on the platform of a Universal Basic Income -- which he says would guarantee payments of $1,000 a month to all citizens, “no questions asked,” to provide help for Americans looking for a job, going back to school or taking care of loved ones.

While not going as far as Yang, Booker last year proposed the creation of “opportunity accounts” for children -- accounts that could grow to about $46,000 per child by the time they turn 18, Business Insider reported.

Fox News' Paul Steinhauser, Liam Quinn, Alex Pappas and The Associated Press contributed to this report.

Source: Fox News Politics

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Kazakh activist complains of pressure by authorities

A prominent activist from Kazakhstan who is campaigning for the release of ethnic Kazakhs in China says he was forced to sign blank documents under house arrest.

Serikzhan Bilash, head of the advocacy group Atajurt, was accused of "inciting ethnic hatred" and placed under house arrest in the Kazakh capital of Astana earlier this week.

The charges against him have not been officially announced.

Bilash said in an audio message relayed by his lawyer that unknown officials visited his place on Wednesday and pressured him to sign blank documents.

The detention of possibly over a million Uighurs, Kazakhs and other ethnic minorities in Chinese internment camps has raised acute concerns in Kazakhstan which heavily relies on trade with neighboring China. Bilash's group has been actively supporting relatives of those detained.

Source: Fox News World

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Thousands of Russians protest against internet restrictions

People shout slogans during a rally to protest against tightening state control over internet in Moscow
People shout slogans during a rally to protest against tightening state control over internet in Moscow, Russia March 10, 2019. REUTERS/Shamil Zhumatov

March 10, 2019

MOSCOW (Reuters) – Thousands of people took to the streets of Moscow and two other cities on Sunday to rally against tighter internet restrictions, in some of the biggest protests in the Russian capital in years.

Lawmakers last month backed tighter internet controls contained in legislation they say is necessary to prevent foreign meddling in Russia’s affairs. But some Russian media likened it to an online “iron curtain” and critics say it can be used to stifle dissent.

People gathered in a cordoned off Prospekt Sakharova street in Moscow, made speeches on a stage and chanted slogans such as “hands off the internet” and “no to isolation, stop breaking the Russian internet”.

The rally gathered around 15,300 people, according to White Counter, an NGO that counts participants at rallies. Moscow police put the numbers at 6,500.

“If we do nothing it will get worse. The authorities will keep following their own way and the point of no return will be passed”, said 28-year-old protester Dmitry, who declined to give his full name.

Opposition activists said on Twitter that police had detained 15 people at the Moscow rally, confiscating their banners and balloons. Police have not announced any detentions.

The protests in Moscow, the southern city of Voronezh and Khabarovsk in the far east had all been officially authorized. A handful of activists in St. Petersburg took to the streets without the authorities’ consent.

Russia has in recent years attempted to curb internet freedoms by blocking access to certain websites and messaging services such as Telegram.

February’s bill passed in the Russian parliament on the first reading out of three.

It seeks to route Russian web traffic and data through points controlled by the state and proposes building a national Domain Name System to allow the internet to continue functioning even if the country is cut off from foreign infrastructure.

The second reading is planned in March after which, if passed, the bill will need to be signed by the upper house of the parliament and then by President Vladimir Putin.

The legislation is part of a drive by officials to increase Russian “sovereignty” over its Internet segment.

Russia has introduced tougher internet laws in recent years, requiring search engines to delete some search results, messaging services to share encryption keys with security services and social networks to store Russian users’ personal data on servers within the country.

(Reporting by Maria Vasilyeva and Shamil Zhumatov; Writing by Andrey Kuzmin; Editing by Matthias Williams and Raissa Kasolowsky)

Source: OANN

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Serbian military promotes war criminal’s book

Serbia's defense ministry has promoted a book by a former army chief of staff who is in jail for war crimes committed by Belgrade's troops in Kosovo in the late 1990s.

The book was written by former Gen. Nebojsa Pavkovic, who is serving a 22-year prison sentence after his 2009 conviction by a U.N. war crimes tribunal.

During a ceremony on Wednesday, Pavkovic addressed the participants via a video link from his prison cell in Finland, saying the book represents "a heroic testimony" of the defense of Serbia from "NATO aggression."

The 78-day NATO air war in 1999 stopped a bloody Serb crackdown against Kosovo Albanian separatists and civilians that led to more than 10,000 dead and nearly a million expelled from their homes.

Source: Fox News World

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German court acquits Afghan accused of Taliban membership

A German court has acquitted an Afghan charged with having belonged to the Taliban in his homeland after he retracted statements made during his asylum proceedings.

The Stuttgart court on Wednesday acquitted the 22-year-old of membership in a terror organization and violating arms control laws for lack of reliable evidence. He was accused of having spent at least six months with the Taliban in 2013, checking cars at a roadblock and being sent to train as a suicide bomber in Pakistan. He later fled to Germany.

The court said the charges were based entirely on statements the defendant made during an asylum hearing. During the trial, he retracted those statements, saying he had invented his Taliban membership and had hoped to secure refugee status by saying he was persecuted.

Source: Fox News World

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Satanic Temple: IRS has designated it a tax-exempt church

The Satanic Temple says it's been designated a church by the Internal Revenue Service.

The Salem, Massachusetts-based organization provided The Associated Press with a notice it recently received communicating its new tax-exempt status. The letter used a code that classifies it as a "church or a convention or association of churches."

The group is now listed in an IRS database for tax-exempt organizations. An email seeking comment was sent to the IRS.

The group says the designation will help in religious discrimination legal cases and allow it to pursue faith-based government grants.

The "non-theistic" group advocates for a stricter separation of church and state. It placed a statue of the goat-headed creature Baphomet at the Arkansas State Capitol last year to call for the removal of a Ten Commandments monument.

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)

Source: OANN

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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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