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India’s factory growth hits six-month low in March on weak demand: PMI

A labourer welds an iron pillar at a building material factory in an industrial area in Dasna
A labourer welds an iron pillar at a building material factory in an industrial area in Dasna, in the central Indian state of Uttar Pradesh, India, January 9, 2019. REUTERS/Adnan Abidi

April 2, 2019

BENGALURU, (Reuters) – Growth in India’s manufacturing industry slowed to a six-month low in March as orders and output expanded at a weaker rate, but overall factory activity ran at a solid pace in the first quarter, a private survey showed on Tuesday.

The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to a six-month low of 52.6 in March from February’s 54.3, below a Reuters poll forecast of 53.9 but above the 50-mark separating growth from contraction for the 20th straight month.

Underscoring that long stretch of growth in the sector, factory activity in the first three months of 2019 increased at its quickest quarterly average rate in more than six years.

“Manufacturing sector expansion in India took a step back in March, with metrics for factory orders, production, exports, input buying and employment all moving lower. Still, growth was sustained on all fronts,” noted Pollyanna De Lima, principal economist at IHS Markit.

“Although global headwinds and a general slowdown in trade present some concerns for the future health of Indian manufacturers’ order books, so far companies have been able to weather the storm and secure healthy inflows of new work from abroad.”

But as new orders and output grew at their slowest pace since September – despite inflationary pressures easing – firms increased headcount at the weakest rate in eight months.

That should keep retail inflation from rising significantly in the near-term. It was below the Reserve Bank of India’s medium-term target of 4 percent for a seven straight month in February, the latest official data showed.

Below-target inflation would give the central bank room to cut its benchmark repo rate for a second consecutive meeting, as is widely expected. It is due to announce its decision on April 4. [RBI/INT]

The latest survey also showed optimism amongst factories rose to its highest since August, supported by government policies announced ahead of this year’s general election.

“Expansionary public policies such as fiscal stimulus and interest rate reduction should also assist the manufacturing sector in gaining some traction in the near term,” said De Lima

(Reporting by Indradip Ghosh; Editing by Shri Navaratnam)

Source: OANN

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Auto industry lines up against possible U.S. tariffs

Imported vehicles are shown out for delivery in National City, California
Imported vehicles are shown out for delivery in National City, California, U.S. June 27, 2018. REUTERS/Mike Blake

February 18, 2019

By Sarah N. Lynch

WASHINGTON (Reuters) – The U.S. auto industry urged President Donald Trump’s administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a confidential report to the White House late on Sunday with its recommendations for how to proceed.

Some trade organizations also blasted the Commerce Department for keeping the details of its “Section 232” national security report shrouded in secrecy, which will make it much harder for the industry to react during the next 90 days Trump will have to review it.

“Secrecy around the report only increases the uncertainty and concern across the industry created by the threat of tariffs,” the Motor and Equipment Manufacturers Association said in a statement, adding that it was “alarmed and dismayed.”

“It is critical that our industry have the opportunity to review the recommendations and advise the White House on how proposed tariffs, if they are recommended, will put jobs at risk, impact consumers, and trigger a reduction in U.S. investments that could set us back decades.”

Representatives from the White House and the Commerce Department could not immediately be reached.

The industry has warned that possible tariffs of up to 25 percent on millions of imported cars and parts would add thousands of dollars to vehicle costs and potentially devastate the U.S economy by slashing jobs.

Administration officials have said tariff threats on autos are a way to win concessions from Japan and the EU. Last year, Trump agreed not to impose tariffs as long as talks with the two trading partners were proceeding in a productive manner.

“We believe the imposition of higher import tariffs on automotive products under Section 232 and the likely retaliatory tariffs against U.S. auto exports would undermine – and not help – the economic and employment contributions that FCA, US, Ford Motor Company and General Motors make to the U.S. economy,” said former Missouri Governor Matt Blunt, the president of the American Automotive Policy Council.

Some Republican lawmakers have also said they share the industry’s concerns.

In a statement issued on Monday, Republican Congresswoman Jackie Walorski said she fears the Commerce Department’s report could “set the stage for costly tariffs on cars and auto parts.”

“President Trump is right to seek a level playing field for American businesses and workers, but the best way to do that is with a scalpel, not an axe,” she added.

(Reporting by David Shepardson and David Lawder; Writing by Sarah N. Lynch; Editing by Dan Grebler)

Source: OANN

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House Speaker Pelosi cites labor, enforcement concerns over new NAFTA

FILE PHOTO: U.S. Speaker of the House Pelosi speaks during introduction of Climate Action Now Act in Washington
FILE PHOTO: U.S. Speaker of the House Nancy Pelosi (D-CA) speaks during the introduction of the Climate Action Now Act on Capitol Hill in Washington, D.C., U.S., March 27, 2019. REUTERS/Joshua Roberts/File Photo

April 2, 2019

WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi on Tuesday said lawmakers could not take up the replacement for the North American Free Trade Agreement unless Mexico passes legislation protecting workers’ rights.

Pelosi, speaking in an interview with Politico, also cited concerns over enforcement provisions for the new U.S.-Mexico-Canada Agreement (USMCA), among other issues.

(Reporting by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

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Swiss to support Belt and Road push during president’s China trip

FILE PHOTO: A map illustrating China's silk road economic belt and the 21st century maritime silk road, or the so-called
FILE PHOTO: A map illustrating China's silk road economic belt and the 21st century maritime silk road, or the so-called "One Belt, One Road" megaproject, is displayed at the Asian Financial Forum in Hong Kong, China January 18, 2016. REUTERS/Bobby Yip/File Photo

April 16, 2019

ZURICH (Reuters) – Switzerland will sign an accord backing China’s Belt and Road Initiative when President Ueli Maurer visits China this month, cementing ties with a major trading partner as other Western countries view the gargantuan project with scepticism.

President Xi Jinping’s new Silk Road initiative has been controversial particularly in Washington, which views it as a way to spread Chinese influence abroad and saddle countries with unsustainable debt, a charge Beijing rejects.

Locked in a trade war with China, the United States has been particularly critical of Italy’s decision to sign up to the plan, the first for a G7 nation. Others in the West are less keen to jump aboard, although many have kept an open mind.

Neutral Switzerland sees the BRI accord to be signed during Maurer’s trip as a way to support economic development, especially in central Asia.

“The aim of the memorandum is for both parties to intensify cooperation on trade, investment and project financing in third markets along the routes of the Belt and Road Initiative”, the finance ministry said on Tuesday without giving more details.

Maurer, who is also finance minister, will attend the second Belt and Road summit next week which is expected to draw around 40 foreign leaders.

The first summit for Belt and Road — which envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with massive infrastructure spending — was in 2017.

Xi has also invited Maurer for a state visit on April 28 and 29, his ministry said. Swiss business and financial leaders will accompany Maurer on his eight-day China trip.

Switzerland, one of the first Western states to recognize the People’s Republic, was the first country in continental Europe to reach a free trade agreement with China, its largest trade partner after the European Union and United States.

Xi made a state visit to Switzerland in 2017.

(Reporting by Michael Shields, editing by Ed Osmond)

Source: OANN

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Prayers, hymns, community shared in firelight of Notre Dame

Some kneeled, some folded their hands to make silent entreaties. Others sang with their eyes focused on the sky that had gone from blue to yellow and orange, and filled with acrid smoke.

In an impromptu act of togetherness and hope, Parisians and people just visiting France's charismatic capital came together to pray for Notre Dame as a fire quickly advanced through the cathedral.

The blaze that engulfed Notre Dame brought memories and sorrow to people around the world who had seen or dreamed of seeing the church known for its sculpted gargoyle guards and place in literary history. But emotions might have run highest in the crowd outside another Gothic church, not far from where Notre Dame burned.

In front of the Saint-Julien-des-Pauvres church, a couple hundred people knelt in prayer in the middle of a larger group. More voices joined an unceasing communal hymn sung mostly a cappella, though accompanied at one point by two violins.

"The cathedral is more than walls. It's a symbol of Catholic France," said Paris resident Gaetane Schlienger, 18, who tried to climb a tree near the vigil. "But I have a lot of friends who are not Catholic, and for them it also has a huge impact."

Schlienger said she comes to Notre Dame nearly every week because gazing at it "you feel in security, in peace. It's magnificent."

The cathedral also called to Quentin Salardaine, 25, a doctor from Paris, as flames devoured it and colored the sky.

"I think this building just symbolizes Paris, no matter if you're Catholic or not. I'm not," Salardaine said. "I'm just here because I couldn't stay at my place just knowing that this thing is happening and there are people gathering, singing this religious anthem."

Elsewhere in Paris, hundreds, and then thousands of people lined the banks of the Seine River around the small island on which Notre Dame stands, watching in disbelief and horror.

The flames spread along the roof at the back of the structure. The spire burned and fell.

The fire chief in Paris reported crews were struggled to contain the fire, which progressed into the cathedral's wooden interior and one of the architecturally distinctive towers. Streams of water from fire hoses whipped across the exterior.

Even after firefighters started getting a handle on the blaze, bits of flame could be seen from the Left Bank still licking above exposed walls where the roof used to be. Lights moving past the huge stained-glass windows at the front of Notre Dame appeared to be guiding investigators doing inspections.

Later, an Associated Press reporter got a glimpse inside the cathedral. The only illumination inside the darkened structure came from a glowing red hole in the soaring ceiling. Hours earlier, the spire had risen from that spot into the Paris skyline. Streams of sparks instead spilled onto the floor where the church choir usually stands.

Outside Saint-Julien-des-Pauvres, people kept approaching the spontaneous chorus. Blandine Bouret, 68, said she knew the neighborhood well. Her grandfather had a small store on a street in the shadow of Notre Dame. Her father had an engraving boutique nearby.

"It's terrible, it's catastrophic. This is the soul of Paris," Bouret said.

Americans Lucy Soule and her father Win, of Freeport, Maine, felt lucky to have visited Notre Dame an hour before flames engulfed it. Lucy Soule, 22, said it also felt "weird."

"Now you can smell it burning," she said of the monument she'd stood in so recently.

Her father said, "I feel sorry for the people tomorrow. They won't be able to see it."

Source: Fox News World

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Michigan man receives congratulatory telegram 50 years later

A man who graduated from the University of Michigan in 1969 has finally received a congratulatory telegram from family friends that was sent more than 50 years ago.

The Ann Arbor News reports that Robert Fink received the Western Union telegram this year.

The telegram originally arrived in 1969 at an Ann Arbor apartment Fink shared with three classmates a day after he'd left to attend graduate school in New York.

It ended up in an old filing cabinet now owned by a digital marketing company based in Ann Arbor. Christina Zaske found the telegram in December after removing the bottom drawer to retrieve a piece of paper that had fallen inside.

Zaske used the internet to find Fink in southeast Michigan and return the note to him.

Fink says the letter has made him reflect on his old connections.

___

Information from: The Ann Arbor News, http://www.mlive.com/ann-arbor

Source: Fox News National

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2 church leaders admit to operating tax fraud scheme

Two high-ranking members of a New York-based church pleaded guilty Wednesday to a scheme to siphon millions of dollars from church members for personal use and not pay taxes on the money.

Jermaine Grant and Lincoln Warrington, both of New Jersey, each pleaded guilty to one count of conspiracy to defraud the United States. An indictment alleged Grant, leader of the Israelite Church of God in Jesus Christ, took nearly $3 million in church money with the help of Warrington, the church's primary treasurer.

According to the indictment, the men funneled money through Black Icon Entertainment, a company with offices in Hackensack, New Jersey, New York and Beverly Hills, among other locations. The company was allegedly created to give the impression that Grant was a successful entertainment mogul.

Grant used the money for real estate, a Kawasaki recreational vehicle, a $32,000 trip to Disneyland and various luxury items. He also used it to pay for some of his children to attend private school, to which they were driven in a chauffeured Mercedes, according to the indictment.

The U.S. Attorney's office estimated the duo failed pay at least $250,000 in taxes on the money.

The fraud conspiracy charge carries a maximum prison sentence of five years, but both defendants are expected to receive a term of no more than 30 months under their plea agreement when they are sentenced in July.

The plea agreement also requires the church to develop a plan to comply with federal tax laws in the future.

The Southern Poverty Law Center, which monitors extremist groups in the U.S., lists the church as a black nationalist hate group. A phone number listed for the church in New York wasn't in service Wednesday.

Source: Fox News National

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FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture
FILE PHOTO: Small toy figures are seen in front of a displayed Huawei and 5G network logo in this illustration picture, March 30, 2019. REUTERS/Dado Ruvic

April 26, 2019

By Charlotte Greenfield

WELLINGTON (Reuters) – China’s Huawei Technologies said Britain’s decision to allow the firm a restricted role in building parts of its next-generation telecoms network was the kind of solution it was hoping for in New Zealand, where it has been blocked from 5G plans.

Britain will ban Huawei from all core parts of 5G network but give it some access to non-core parts, sources have told Reuters, as it seeks a middle way in a bitter U.S.-China dispute stemming from American allegations that Huawei’s equipment could be used by Beijing for espionage.

Washington has also urged its allies to ban Huawei from building 5G networks, even as the Chinese company, the world’s top producer of telecoms equipment, has repeatedly said the spying concerns are unfounded.

In New Zealand, a member of the Five Eyes intelligence sharing network that includes the United States, the Government Communications Security Bureau (GCSB) in November turned down an initial request from local telecommunication firm Spark to include Huawei equipment in its 5G network, but later gave the operator options to mitigate national security concerns.

“The proposed solution in the UK to restrict Huawei from bidding for the core is exactly the type of solution we have been looking at in New Zealand,” Andrew Bowater, deputy CEO of Huawei’s New Zealand arm, said in an emailed statement.

Spark said it has noted the developments in Britain and would raise it with the GCSB.

The reports “suggest the UK is following other European jurisdictions in taking a considered and balanced approach to managing supplier-related security risks in 5G”, Andrew Pirie, Spark’s corporate relations lead, said in an email.

“Our discussions with the GCSB are ongoing and we expect that the UK developments will be a further item of discussion between us,” Pirie added.

New Zealand’s minister for intelligence services, Andrew Little, did not immediately respond to a request for comment.

British culture minister Jeremy Wright said on Thursday that he would report to parliament the conclusions of a government review of the 5G supply chain once they had been taken.

He added that the disclosure of confidential discussions on the role of Huawei was “unacceptable” and that he could not rule out a criminal investigation into the leak.

The decisions by Britain and Germany to use Huawei gear in non-core parts of 5G network makes it harder to prove Huawei should be kept out of New Zealand telecommunication networks, said Syed Faraz Hasan, an expert in communication engineering and networks at New Zealand’s Massey University

He pointed out Huawei gear was already part of the non-core 4G networks that 5G infrastructure would be built on.

“Unless there is a convincing argument against the Huawei devices … it is difficult to keep them away,” Hasan said.

(Reporting by Charlotte Greenfield; Editing by Himani Sarkar)

Source: OANN

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FILE PHOTO: The logo commodities trader Glencore is pictured in Baar
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

April 26, 2019

(Reuters) – Glencore shares plunged the most in nearly four months on Friday after news overnight that U.S. regulators were investigating whether the miner broke some rules through “corrupt practices”.

Shares of the FTSE 100 company fell as much as 4.2 percent in early deals, and were down 3.5 percent at 310.25 pence by 0728 GMT.

On Thursday, Glencore said the U.S. Commodity Futures Trading Commission is investigating whether the company and its units have violated some provisions of the Commodity ExchangeAct and/or CFTC Regulations.

(Reporting by Muvija M in Bengaluru)

Source: OANN

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Well, Joe Biden didn’t exactly clear the field.

I don’t think it matters much that Biden waited until yesterday to become the 20th Democrat vying for the nomination, even though it exposed him to weeks of attacks while he seemed to be dithering on the sidelines.

A much greater warning sign, in my view, is the largely negative tone surrounding his debut. He is, after all, a former vice president, highly praised by Barack Obama, who has consistently led in the early primary polls, and beating President Trump in head-to-head matchups. Yet much of the press is acting like he’s an old codger and it’s just a matter of time before he keels over politically.

This is all the more remarkable in light of the fact that the vast majority of journalists and pundits know and like Joe Biden and his gregarious personality.

The reason is that Biden, after a half-century in politics, lacks excitement, and the press is magnetically attracted to novel and unorthodox types like Beto and Mayor Pete. You don’t see Biden on the cover of Vanity Fair, and a grind-it-out win by a conventional warrior doesn’t set journalistic hearts racing.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

For many in the media, Biden isn’t liberal enough, at least not for the post-Obama era. He doesn’t promise free college and free health care and has a history of working with Republicans, such as John McCain (whose daughter Meghan loves him, and Biden will hit “The View” today.)

What’s more, Biden’s campaign style — speak at rallies, rack up union endorsements — seems hopelessly old-fashioned when we measure popularity by Instagram followers. News outlets are predicting he’ll have trouble getting in the online fundraising game, leaving him reliant on big donors, which used to be standard practice.

And then there’s the age thing. Biden would be the oldest president to be inaugurated, at 78, and he looked a step slow in encounters with reporters yesterday and a few weeks ago.

But what if the journalists are in something of a Twitter bubble, and the actual Democratic Party is much more moderate? We saw that with the spate of allegations by women of unwanted touching, which dominated news coverage until polls showed that most Dem voters weren’t concerned. In that wider world, the Scranton guy’s connection to white, working-class voters could help him against Trump in the industrial Midwest.

SUBSCRIBE TO HOWIE’S MEDIA BUZZMETER PODCAST, A RIFF OF THE DAY’S HOTTEST STORIES

Biden denounced the president’s term as an “aberrant moment” in his launch video, saying four more years would damage the country’s character and “I cannot stand by and watch that happen.”

But first, he’d have to win the nomination in the face of an unenthusiastic press corps.

A New York Times news story said Biden would be “marshaling his experience and global stature in a bid to lead a party increasingly defined by a younger generation that might be skeptical of his age and ideological moderation.”

The Washington Post quoted Democratic strategists as saying that Biden faces an “uphill battle” and “isn’t necessarily the heir apparent to Obama, despite being his No. 2 in the White House for eight years. They argue voters will judge Biden by the span of his decades-long career and are worried the veteran pol hasn’t yet found a winning formula for his own candidacy.”

The liberal Slate said the ex-veep’s rivals view him as a “paper tiger”:

“Biden is something more like a 2016 Jeb Bush: a weak establishment favorite whose time might be past … Biden’s biggest challenge in the primary will be a compromised past spanning nearly 50 years.”

“Compromised” suggests a history of scandal, yet what Slate means is political baggage, such as his backing of a Clinton-era crime bill unpopular with black voters today. Yet I think the rank and file isn’t as concerned about a vote back in 1994, or even the Anita Hill hearings, as the chattering classes.

BIDEN’S SENATE RECORD, ADVOCACY OF 1994 CRIME BILL WILL BE USED AGAINST HIM, EX-SANDERS STAFFER SAYS

One of the few left-leaning pundits to suggest the press is underestimating Biden is data guru Nate Silver at 538:

“Media coverage could nonetheless be a problem for Biden. Within the mainstream media, the story of Biden winning the nomination will be seen as boring and anticlimactic. That tends not to lead to favorable coverage. Meanwhile, some left-aligned media outlets may prefer candidates who are some combination of more leftist, more wonkish, more reflective of the party’s diversity, and more adept on social media.

“If Biden is framed as being out of touch with today’s Democratic Party and that narrative is repeated across a variety of outlets, it could begin to resonate with voters who don’t buy it initially. If he’s seen as a gaffe-prone candidate, then minor missteps on the campaign trail could be blown up into big fumbles.”

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Look, it’s entirely possible that Biden could stumble, get lapped in fundraising and just be outclassed by younger and savvier rivals. He was hardly a great candidate in 1987 and in 2008.

But if the former vice president finds his footing and the field narrows, the press will be forced to change its tune, and we’ll see a spate of stories about how Joe Biden has “grown.”

Source: Fox News Politics

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South Africa's 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston
South Africa’s 400m Olympic gold medallist and world record holder Wayde van Niekerk looks on as he attends South African Championships in Germiston, South Africa, April 25, 2019. REUTERS/Siphiwe Sibeko

April 26, 2019

GERMISTON, South Africa (Reuters) – Olympic 400 meters champion Wayde van Niekerk has backed South African compatriot Caster Semenya in her battle with the International Association of Athletics Federations (IAAF), which now appears to have taken a new twist.

Semenya, a double 800 meters Olympic gold medalist, is waiting for the outcome of her appeal to the Court of Arbitration for Sport (CAS) to halt the introduction of new regulations by governing body IAAF that would require her to take medicine to limit her natural levels of testosterone.

The IAAF wants female athletes with differences of sexual development who run in events from 400 meters to a mile, to reduce their blood testosterone level to below five (5) nmol/L for a period of six months before they can compete, saying they have an unfair advantage.

“She’s fighting for something beyond just track and field, she’s fighting for woman in sports, in society and I respect her for that,” Van Niekerk told reporters.

“I will support her and with the hard work and talent that she’s been putting into the sport. With what she believes in and what she’s dreaming for, I’ve got a lot of respect for her.

“I really hope and pray that everything just goes from strength to strength for her.”

Semenya has sprung a surprise at the on-going South African Athletics Championships though, ditching the 800 meters and instead competing over 1,500 and 5,000-metres – the latter one would not require her to medically lower her testosterone level.

She stormed to victory in the 5,000-metres final in a modest time of 16:05.97, but looked to have lots left in the tank as she passed the finish line.

Semenya beat fellow Olympian and defending national 5,000m champion Dominique Scott in Thursday’s final but the latter admitted she is unsure whether the 800m specialist could be a serious Olympic contender over the longer distance.

“Honestly‚ I have no idea‚” Scott said. “Before today I probably would have said no. It’s hard to compare a 5,000 at altitude to a 5,000 at sea level.

“But I think she’s an amazing runner and I don’t think there’s any limit or ceiling on what she can do.”

Van Niekerk, the 400m world record holder, had to abort his comeback from a knee injury, that had sidelined him for 18 months, following a combination of cold weather and a wet track.

“We are trying to take the correct decisions now early in the year so as not to put myself in any harm,” he said.

“It was a bit chilly this entire week prepping and coming through here as well it was quite cold and it caused bit of tightness in my leg. We decided to not risk it.

“My recovery is going well and I would like to be back in competition this year, but will only do so if I can deliver a good performance.

“I am a competitor and respect my opponents, so I need to be at my best when I return.”

(Reporting by Nick Said, additional reporting by Siyabonga Sishi; editing by Sudipto Ganguly)

Source: OANN

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The suspected leader of the Easter Sunday bombings in Sri Lanka died in the Shangri-La hotel, one of six hotels and churches targeted in the attacks that killed at least 250 people, authorities said.

Police said Mohamed Zahran, leader of the National Towheed Jamaat militant group, had been killed in one of the bombings. The group’s second in command was also arrested, police said.

Zahran amassed an online following for his hate-filled sermons. Some were delivered before a banner depicting the Twin Towers.

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people. 

Sri Lankan authorities said Friday that Islamic cleric Mohammed Zahran died in the blast at the Shangri-La hotel during the Easter Sunday atatcks that killed at least 250 people.  (YouTube)

Australian Prime Minister Scott Morrison said Friday that the attackers responsible for the bombings were supported by the Islamic State group. Around 140 people in Sri Lanka had connections to ISIS, Sri Lankan President Maithripala Sirisena said.

“We will completely control this and create a free and peaceful environment for people to live,” he said.

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Investigators determined the attackers received military training from someone called “Army Mohideen.” They also received weapons training overseas and at some locations in Sri Lanka, according to authorities.

A copper factory operator arrested in connection with the bombings helped Mohideen make improvised explosive devices, police said. The bombings have led to increased security throughout the island nation as authorities warned of another attack.

Source: Fox News World

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