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Shell to quit U.S. refining lobby over climate disagreement

FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell, speaks during a news conference in Rio de Janeiro
FILE PHOTO: Ben van Beurden, chief executive of Royal Dutch Shell, speaks during a news conference in Rio de Janeiro, Brazil, February 15, 2016. REUTERS/Sergio Moraes/File Photo

April 2, 2019

By Ron Bousso

LONDON (Reuters) – Royal Dutch Shell on Tuesday became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies.

In its first review of its association with 19 key industry groups, the company said it had found “material misalignment” over climate policy with the American Fuel & Petrochemical Manufacturers (AFPM) and would quit the body in 2020.

The review is part of Shell’s drive to increase transparency and show investors it is in line with the 2015 Paris climate agreement’s goals to limit global warming by reducing carbon emissions to a net zero by the end of the century.

It is also the latest sign of how investor pressure on oil companies is leading to changes in their behavior around climate.

“AFPM has not stated support for the goal of the Paris Agreement. Shell supports the goal of the Paris Agreement,” the Anglo-Dutch company said in its decision.

AFPM did not immediately respond to a request for comment.

Shell said it also disagreed with AFPM’s opposition to a price on carbon and action on low-carbon technologies.

The review was welcomed by Adam Matthews, director of ethics and engagement for the Church of England Pensions Board, which invests in Shell and led discussions with the company over its climate policy.

“This is an industry first,” Matthews said.

“With this review Shell have set the benchmark for best practice on corporate climate lobbying not just within oil and gas but across all industries. The challenge now is for others to follow suit.”

AFPM counts dozens of U.S. and international members including Exxon Mobil, Chevron, BP and Total that operate 110 refineries and 229 petrochemical plants, its 2018 annual report says.

Shell also found “some” misalignment with nine other trade associations, including the American Petroleum Institute. It will continue to engage with those groups over climate policies and monitor their alignment, Shell said.

Last year, Shell caved in to investor pressure over climate change, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay.

Its chief executive, Ben van Beurden, has since repeatedly urged oil and gas producers to take action over climate and pollution.

“The need for urgent action in response to climate change has become ever more obvious since the signing of the Paris Agreement in 2015. As a result, society’s expectations in this area have changed, and Shell’s views have also evolved,” van Beurden said in the report.

“We must be prepared to openly voice our concerns where we find misalignment with an industry association on climate-related policy. In cases of material misalignment, we should also be prepared to walk away.”

(Reporting by Ron Bousso; Editing by Dale Hudson and Jane Merriman)

Source: OANN

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U.S. puts 37 Chinese companies and schools on red-flag ‘unverified’ list

FILE PHOTO: The seal of the Department of Commerce is pictured in Washington
FILE PHOTO: The seal of the Department of Commerce is pictured in Washington, D.C., U.S. March 10, 2017. REUTERS/Eric Thayer/File Photo

April 10, 2019

By Diane Bartz and Karen Freifeld

WASHINGTON (Reuters) – The U.S. Commerce Department said on Wednesday that it is adding 37 Chinese companies and schools to a red-flag list of “unverified” entities that U.S. companies should treat with caution, according to a notice in the Federal Register.

The list, which takes effect on Thursday, also includes six organizations in Hong Kong, four in the United Arab Emirates, two in Malaysia and one in Indonesia.

One company on the list is the Aisin Nantong Technical Center, a Chinese subsidiary of a Japanese auto parts manufacturer. Another is Beijing Bayi Space LCD Materials Technology Co Ltd, which has received patents for high-end screen technology.

Several other of the companies named specialize in precision optics, electronics, machine tools or aviation.

The listing means that the U.S. companies will treat the organizations with caution, said Kevin Wolf, a former assistant secretary of commerce for export administration.

Being put on an “unverified” list means that U.S. suppliers to the unverified companies and schools can no longer use license exceptions to, for example, sell products to repair goods that were sold previously but instead will have to get a new license, said Wolf, now at the law firm Akin Gump.

“Even though it’s not an embargo, because of the hassle sometimes suppliers will treat it as an embargo. It has a practical effect that’s greater than the legal effect,” said Wolf.

The Commerce Department will put entities on the “unverified” list if the organizations decline to answer questions about how U.S. goods are used.

Schools on the list include the Changchun Institute of Applied Chemistry, whose website says it specializes in physics and chemistry research aimed at defense and economic development as well as training graduate students.

Other schools on the list are the Guangdong University of Technology in Guangzhou, Renmin University, Tongji University in Shanghai and two schools in Xi’an, China.

The listing also removes five Russian companies, three Chinese entities and one Finnish firm from the list.

(Reporting by Diane Bartz; editing by Jonathan Oatis)

Source: OANN

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Germany warns of Turkey's refusal to accredit journalists

Germany's Foreign Ministry is warning that Turkey might take "further measures" against German journalists after reporters were denied accreditation in recent weeks.

The Foreign Ministry updated its travel advice late Saturday for Germans planning to go to Turkey. It said Turkish authorities refused to issue to several journalists the permits needed to report from the country.

The ministry said "as such, it can't be ruled out that the Turkish government will take further measures against representatives of German media as well as civil society organizations."

The ministry also cited Turkey's "arbitrary arrest" in recent years of German citizens suspected of links to banned groups, such as the network of a Turkish cleric living in the U.S. Turkey accuses followers of Muslim cleric Fethullah Gulen of being behind a failed 2016 coup.

Source: Fox News World

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Norsk Hydro’s initial loss from cyber attack may exceed $40 million

FILE PHOTO: A sign warning employees not to connect devices to the network in the wake of a cyber attack is seen at the headquarters of aluminum producer Norsk Hydro in Oslo
FILE PHOTO: A sign warning employees not to connect devices to the network in the wake of a cyber attack is seen at the headquarters of aluminum producer Norsk Hydro in Oslo, Norway March 19, 2019. REUTERS/Gwladys Fouche/File Photo

March 26, 2019

By Nerijus Adomaitis

OSLO (Reuters) – Norwegian aluminum maker Norsk Hydro may have lost more than $40 million in the week that followed a cyber attack that paralyzed parts of its operations, and a full recovery of IT systems will take weeks or more, the company said.

Norsk Hydro had to halt some of its production on March 19 and switch other units to manual operation after hackers blocked its systems with ransomware.

While Hydro’s primary metals business and most other units were able to carry on production with workarounds and manual solutions, one of its main production units struggled to recover, company executives told a news conference on Tuesday.

On a preliminary basis, the financial impact during the first week was estimated at between 300 million and 350 million Norwegian crowns ($35 million-$41 million).

“Hydro has a solid cyber risk insurance policy with recognized insurers, with global insurer AIG as lead,” the company said.

“The insurance has a ceiling,” Chief Financial Officer Eivind Kallevik told the news conference. He declined to be more specific regarding the policy’s cap.

Hydro meanwhile is still trying to get affected businesses back up to speed.

“In the most affected business area, Extruded Solutions, production is now at 70-80 percent, except for the Building Systems business unit, where operations remain almost at a standstill,” Hydro said.

The company said it hoped to see “a reasonable level of production and shipments” from building systems by the end of the week.

The company’s extrusion business transform aluminum ingots into components for carmakers, builders and other industries.

Hydro has said it will not pay hackers to unlock its files, preferring instead to restore them from backup servers.

“The company has now entered the recovery phase following the attack, gradually restoring IT systems in a safe and secure manner to ensure progress toward normal business while limiting the impact for people, operations, customers, suppliers and other partners,” Hydro said in a statement.

Kallevik said at the news conference that a full recovery of all systems would take “weeks or longer”.

Norsk Hydro’s shares were down 1.9 percent on Tuesday, lagging a 0.5 percent rise in Norway’s benchmark stock index.

(Writing by Terje Solsvik, editing by Gwladys Fouche and Jane Merriman)

Source: OANN

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California police release bodycam footage of fatal shooting of rapper

California police have released bodycam footage of the fatal shooting of a rapper who was sleeping in his car in a Taco Bell drive-thru in February.

The 30-minute video, excerpted here, was released by the Vallejo Police Department. It showed the Feb. 9 encounter from different angles via the officers' cameras. The video showed officers approach a vehicle where Willie McCoy, 20, a local rapper known as Willie Bo, was inside. Neither his face nor a weapon appeared to be visible in the footage.

Officers were heard saying McCoy had a gun in his lap. Subtitles on the video said the gun was loaded with an extended 14-round magazine. The officers talked about opening the door and grabbing the gun, but the car door was locked.

CALIFORNIA RAPPER SHOT DEAD BY COPS AT TACO BELL WAS SLEEPING, FAMILY SAYS

Later, the officers noticed McCoy moving inside the vehicle. The video subtitles said the man moved his arm and he was given verbal commands to show his hands. The subtitles also said the driver bent forward "at the waist” when given verbal commands.

According to the provided subtitles, the driver reached for the gun on his lap before the officers opened fire. The video showed the officers firing at the driver window, discharging multiple rounds.

In all, six officers fired at McCoy killing him. The officers were identified as Ryan McMahon, Collin Eaton, Jordan Patzer, Mark Thompson, Anthony Romero-Cano and Bryan Glick.

NBC News reported the six officers have “returned to duty.” KTVU reported McMahon was involved in a previous fatal shooting last year.

CALIFORNIA MAN SENTENCED TO 20 YEARS FOR FATAL ‘SWATTING’ OF KANSAS MAN

After the video was released, McCoy’s family spoke to reporters.

"I'm glad the video was released so everyone can see it," Dave Harrison, McCoy's cousin, told reporters. "Willie was a sitting duck in that car. He was asleep."

The attorneys for McCoy’s family said the rapper was shot 25 times, according to NBC News. Relatives have filed a wrongful-death claim against the city of Vallejo, The San Francisco Chronicle reported.

Source: Fox News National

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U.S. senators seek details on nuclear power cooperation with Saudi Arabia

FILE PHOTO: U.S. Energy Secretary Rick Perry attends a news conference after meeting with Iraqi President Barham Salih in Baghdad
FILE PHOTO: U.S. Energy Secretary Rick Perry attends a news conference after meeting with Iraqi President Barham Salih in Baghdad, Iraq December 11, 2018. REUTERS/Thaier al-Sudani/File Photo

April 2, 2019

By Timothy Gardner

WASHINGTON (Reuters) – U.S. senators from both parties on Tuesday asked Energy Secretary Rick Perry for details about recent approvals for companies to share nuclear energy information with Saudi Arabia, with the lawmakers expressing concern about possible development of atomic weapons.

Saudi Arabia has engaged in “many deeply troubling actions and statements that have provoked alarm in Congress,” Senators Bob Menendez, a Democrat, and Marco Rubio, a Republican, told Perry in a letter, a copy of which was seen by Reuters.

The senators said Congress was beginning to reevaluate the U.S.-Saudi relationship, and they believe Washington should not be providing nuclear technology or information to Saudi Arabia now.

The Trump administration has been quietly negotiating a deal that would potentially help Saudi Arabia build two reactors.

Last week news reports revealed that since November 2017, Perry has authorized so-called Part 810 approvals allowing U.S. companies to share sensitive nuclear information with the kingdom. The approvals were kept from the public and from Congress.

The senators asked Perry to provide them by April 10 with the names of the companies that got the 810 approvals, what was in the authorizations, and why the companies asked that the approvals be kept secret.

While 810 agreements are routine, the Obama administration made them available for the public to read at Energy Department headquarters. Lawmakers say the department is legally required to inform Congress about the approvals.

Perry approved the seven recent authorizations as the administration has tried to hash out nonproliferation standards with Saudi Arabia. Such a pact, known as a 123 agreement, would have to be agreed before U.S. companies can share physical exports of materials and equipment to build reactors.

The kingdom has resisted standards on reprocessing spent fuel and enriching uranium, two potential paths to making nuclear weapons.

The United States has been competing with South Korea, France, Russia and China on a potential deal to help build reactors in Saudi Arabia. The kingdom is expected to announce the winner this year.

Lawmakers from both parties have been concerned about Saudi Arabia’s bombing campaigns in Yemen, which is on the brink of famine, and the killing of journalist Jamal Khashoggi, a U.S. resident, last October in the Saudi consulate in Istanbul.

Concern in Congress grew last year after the kingdom’s Crown Prince Mohammed bin Salman told CBS that “Saudi Arabia does not want to acquire any nuclear bomb, but without a doubt if Iran developed a nuclear bomb, we will follow suit as soon as possible.”

Perry has said the 810 approvals were kept from the public for corporate proprietary reasons.

He has also said that if Saudi Arabia relies on China or Russia for building nuclear reactors those two countries don’t give a “tinker’s damn” about non-proliferation.

Many non-proliferation experts dispute the notion that a deal with China or Russia would be riskier. These people say the United States has many other levers it can pull to influence nuclear behavior.

(Reporting by Timothy Gardner; Editing by David Gregorio)

Source: OANN

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Explainer: Who is in the driver’s seat in battle for South Korean gaming giant Nexon?

FILE PHOTO: Logos of Nexon are seen at its main office building in Seoul
FILE PHOTO: Logos of online gaming firm Nexon are seen at its main office building in Seoul December 14, 2011. REUTERS/Kim Hong-Ji

April 11, 2019

By Kane Wu and Hyunjoo Jin

HONG KONG/SEOUL (Reuters) – The sale of a controlling stake in the parent of South Korean gaming firm Nexon Co is now narrowing to a handful of serious bidders after generating fevered speculation. 

A deal would rank as one of South Korea’s biggest, and, at potentially $16 billion, be the biggest ever gaming deal worldwide. Bidders, though, would have to find the funding and navigate the intricacies of Nexon’s relationship with partner Tencent Holdings as well as protectionist South Korean sentiments.

WHAT EXACTLY IS UP FOR GRABS?

Billionaire Jungju Kim is selling a 98.64 percent stake held by himself and his wife in NXC, the holding company that owns 48 percent of Nexon.

Founded in 1994, Nexon is now the biggest game developer and publisher by revenue in South Korea, the world’s second-biggest online games market.

51-year-old Kim said last year he did not plan to leave his company to his children, and earlier this year he hired investment banks Deutsche Bank and Morgan Stanley to explore a sale of his NXC stake, sources said.

WHY SUCH HYPE?

Bankers are licking their lips in anticipation of a deal because not only can they earn fees from advising potential players but also they might get to finance any transaction.

A 48 percent stake in Nexon is worth $6.7 billion, given the company’s $14 billion market capitalization. But some bidders may also explore a deal to take Nexon private, sources close to the situation have said.

Nexon, which has $4 billion in net cash, is trading at an enterprise value of 13 times its earnings before interest, tax, depreciation and amortization, according to Eikon data. That is the average multiple at which other large gaming deals were struck, according to Dealogic data.

Add a takeover premium of 15 per cent, which has more or less been the standard for other gaming deals, according to Dealogic data, and the transaction could be worth as much as $16.1 billion.

Local media named Amazon, Comcast and Electronic Arts as initial bidders, but Reuters could not verify that.

Sources close to the deal said there were only a handful of serious bidders.

Chinese gaming giant Tencent, its South Korean peer Kakao, as well as private equity firms Bain Capital, MBK Partners and KKR submitted initial bids, according to five sources.

They have began due diligence in late March, three of them added.

The sale move, however, is angering some South Koreans.

“I feel devastated,” said Wi Jong-hyun, president of Korea Academic Society of Games, an industry research group, likening the possible sale of Nexon overseas to that of national icons such as Samsung Electronics or the management firm of hit K-pop group BTS.   

TENCENT’S ROLE

Tencent is seen as the key to any deal since it owns the exclusive China license for Dungeon Fighter (DNF), Nexon’s most successful game.

Neople, the Nexon unit which developed DNF, generated 1.24 trillion won ($1.1 billion) revenue from Tencent in 2018, up 17 percent year-on-year, under a publishing deal which is effective till 2025, according to Neople’s public filings.

As the winner of the world’s biggest gaming deal to date – paying $8.6 billion to buy Supercell in 2016 – Tencent knows how to bag deals.

But two sources close to the company say it has not yet fully recovered from China’s crackdown on new online games last year and it has also just gone through its largest-ever round of executive lay-offs.

“What does Tencent have to gain from taking over the company when it already enjoys a good partnership with it in China and contributes so much to its revenue?” said a separate source involved in the situation.

Tencent also has stakes in Nexon’s competitors, which could further complicate a deal since whoever wins NXC or Nexon entirely would have to ensure Tencent is cooperative, according to sources.

Tencent owns 11.9 percent of Kakao, and 17.7 percent of Netmarble which announced it would bid for Nexon.

The Chinese tech giant earlier this month raised $6 billion in a bond sale, with proceeds earmarked for refinancing and general corporate purposes, but is likely to be part of a consortium in a bid for Nexon.

“The key is, who is going to attract Tencent as part of their consortium,” said a third source briefed about the deal.

Tencent has so far played its cards close to its chest and did not provide any comment for the story.

WHAT IS THE MOST LIKELY OUTCOME?

No single bidder would be able to stomach such a large deal without Tencent or other financial investors, sources said.

“Netmarble and Kakao don’t have enough funding. Even if they do, the deal size is too big to be true. It is burdensome,” said Kim Min-jung, an analyst with HI Investment & Securities in Seoul.

There is no formal deadline for binding bids, one of the sources said, indicating any agreement may take time.

Nexon and NXC declined to comment. Representatives at Bain, KKR, MBK, Kakao and Netmarble declined to comment. Deutsche Bank and Morgan Stanley declined to comment.

All sources declined to be named as the information is confidential.

(Reporting by Kane Wu in Hong Kong and Hyunjoo Jin in Seoul; Additional reporting by Julie Zhu in Hong Kong and Heekyong Yang and Ju-min Park in Seoul; Editing by Jennifer Hughes and Muralikumar Anantharaman)

Source: OANN

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It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND ‘STAYING STRONG’ FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

“This is not something that a typical pawn shop might accept,” Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. “My feeling would be that it was some type of black market sales.”

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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

April 26, 2019

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

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

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

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

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

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

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

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

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

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

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

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

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

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

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

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

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

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

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

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

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

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

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Nearly a week later, even after the cleaners have come through, the blood can still be seen clearly. The statues of Jesus and the saints are still speckled with fragments of shrapnel. The smell of death is everywhere, though the bodies are long gone.

Yet somehow, there’s a beauty to St. Sebastian’s, a neighborhood church in a Catholic enclave north of Sri Lanka’s capital, where a man calmly walked in during Easter services with a heavy backpack and blew himself up.

You can see the beauty in the broken stained-glass windows. It’s there as the sun shines through the roof’s gaping holes. It’s there in the little statues that refused to fall over, and despite the swarms of police and soldiers who seem to be everywhere now in the streets of the seaside town of Negombo.

For more than 50 years, St. Sebastian’s had been the scene of weddings and baptisms, of Christmas celebrations and countless Masses.

It’s still not clear exactly how many died Sunday at the Negombo church, but perhaps nearly half of the roughly 250 people killed in the Easter bombings that targeted churches and high-end hotels. Authorities say a once-obscure militant Muslim group carried out the attacks.

In a largely Buddhist country, Negombo is mostly Catholic town with dozens of churches. For days, it has been in mourning.

St. Sebastian’s walls are now blackened near where the bomber stood when he killed himself, spraying shrapnel in every direction. From inside, you see destruction wherever you look.

But from outside the church, if you ignore the police tape and if you’re standing far enough away, you might think nothing had happened there at all.

You might think St. Sebastian’s is a place known only for weddings and baptisms, for Christmas celebrations and countless Masses.

Source: Fox News World

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