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Bill Maher Pushes Depopulation: Best Thing You Can Do for Earth “not have kids, die, and stay dead”

Liberal comedian Bill Maher celebrated the fact millennials are having less sex because, according to him, the world already has too many people.

On his Friday episode of Real Time, Maher covered a study which found younger Americans are less sexually active, and claimed the world is better off because it’s running out of resources due to overpopulation.

“But instead of asking why America’s young people are having less sex — let’s just be glad they are,” Maher said. “Earth Day is coming up, and I can’t think of a better gift to our planet than pumping out fewer humans to destroy it.”

Citing freshman congresswoman’s Alexandria Ocasio-Cortez’s (D-N.Y.) fears the world will soon end, Maher claimed young people are waking up because they realize Earth’s resources won’t be around much longer.

“So it’s no wonder millennials are freaking out about having kids. They and generation Z are waking up en masse to the idea that, way too early in their lifetimes, the planet is going to be a shit show.”

Maher ended the segment by encouraging viewers to masturbate and die.

“So, please, masturbate — don’t procreate. Yank it until Trump is throwing paper towels at you. And remember, the best thing you can do for Earth is not have kids, die, and stay dead.”


Source: InfoWars

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Woman assaults man wearing ‘MAGA’ hat at Mexican eatery, claims she's the victim

A Massachusetts woman upset that a patron at a Mexican restaurant in Cape Cod was wearing a “Make America Great Again” hat was arrested for allegedly assaulting him.

Rosaine Santos, a 41-year-old immigrant from Brazil living in Falmouth, was charged disorderly conduct, assault, and battery after a confrontation at Casa Vallarta” Mexican restaurant last Friday.

According to police, Santos was upset that a man – later identified as 23-year-old Bryton Turner of Mashpee – had the audacity to wear the iconic red hat at the Mexican eatery, Boston 25 reported.

MAGA-HAT WEARING TEEN CLAIMS CALIFORNIA HIGH SCHOOL WOULDN'T PERMIT HER TO WEAR HAT

Turner told police that he was minding his own business when Santos started yelling at him because of his hat. Annoyed by the woman’s antics, he pulled out his phone and started recording her.

In the video, Santos is seen walking behind him and hitting his hat off his head.

“That’s the problem – the problem with American these days, people are just ignorant,” Turner said in the video.

When police arrived at the restaurant, Santos reportedly told them that Turner should not be allowed to eat at a Mexican restaurant because of his support for President Donald Trump, who is pushing to building a wall on the U.S.-Mexico border.

As police escorted Santos out of the restaurant, she allegedly took another swipe at Turner.

VANS EMPLOYEE FIRED FOR ALLEGEDLY CURSING AT MAGA HAT-WEARING TEEN

Santos told Boston 25 that while she regrets her actions, she was the victim in the whole incident and that she was provoked.

“I had a little bit to drink maybe that’s the reason that I couldn’t walk away but being discriminated for so many times in my life, I just had to stand up for myself,” she said. “He’s not a victim. I am the victim. I have been bullied, OK?”

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Geo Macarao, a bartender at the restaurant, told Boston 25 that Turner has just ordered food when Santos started attacking him unprovoked.

“I couldn’t imagine somebody just coming up and hitting them when there’s cops right here,” he added. “She just tried to grab my hat in front of four officers, not smart.”

Source: Fox News National

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Tens of thousands in southern Africa need help after cyclone

A second week has begun of efforts to find and help tens of thousands of people after Cyclone Idai devastated parts of southern Africa.

Members of the Indian and South African militaries are joining aid groups in flying over stretches of central Mozambique looking for signs of life and people in need.

No one knows how many people are missing. More than 600 people are confirmed dead in Mozambique, Zimbabwe and Malawi. Aid workers say that number is certain to rise as flood waters recede.

The shattered Mozambican city of Beira and other communities are now home to crowded displacement camps both organized and informal. With communications badly affected by the cyclone and some families separated in the chaos, a program aimed at reunification is now underway.

Source: Fox News World

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Shortages of everything, and worries about relatives, for Mozambique flood survivors

People take shelter after Cyclone Idai in a secondary school in Guara Guara outside Beira
People take shelter after Cyclone Idai in a secondary school in Guara Guara outside Beira, Mozambique, March 22, 2019. REUTERS/Emma Rumney

March 22, 2019

By Emma Rumney

GUARA GUARA, Mozambique (Reuters) – At a camp near the city of Beira for people rescued from Mozambique’s catastrophic flooding, residents were dealing on Friday with worries about their future and shortages of pretty much everything – water, food and medicines.

Also, painfully, some of them lacked information about how their relatives were faring.

Aid organizations such as the World Food Programme and Red Cross are delivering food, water, shelter and other basic supplies to the camp at Guara Guara, which was set up by the government, and scores of others like it in the flood zone around Beira.

But with roads cut off, progress is slow. Camps like the one at Guara Guara, 45 km (30 miles) west of Beira, can be reached only by helicopter. There are a limited number of craft available and they are in huge demand.

Fernando Marevere, a local village chief, said the main concern for new arrivals at Guara Guara was food and medicines, which were both in short supply.

Eight large tents were sent to the camp on Wednesday, but on Friday most people were outside in the blazing sun, or huddling into small patches of shade cast by the branches of sparse trees.

People also took shelter in the village’s secondary school – whose roof was still intact – sitting or slumped, head down, at its wooden desks. A number of elderly women were curled up on their side on the dirt floor.

Fresh water was in low supply and there were no toilets. The camp’s residents, numbering in the hundreds, washed in a stream nearby.

Medical tents were small and cramped.

A young boy bawled as doctors worked on a deep cut on his foot, as a family friend held him still and shielded his face from the gore.

Augusto Jose, a pharmacy technician who had come from Beira to help, told Reuters the main concern was malaria, and how to diagnose it with so few tests at hand.

Esther Zinge, 60, from near the town of Buzi, had not eaten anything yet on Friday. She had missed breakfast while waiting in line with her husband for the doctor, because he was unwell.

“The help is coming, but it’s coming very slowly,” she said, adding that what did arrive had to be given to children first.

“We had to ask a local hospital for soya milk so we can stretch out the food. All we’ve had so far is biscuits,” she said. “The conditions are terrible, and more people keep coming.”

Cyclone Idai pummeled the port city of Beira and its low-lying surrounds last week with ferocious winds and tore inland, dumping torrential rains and causing massive flooding in swathes of Mozambique, Zimbabwe and Malawi.

The storm killed 242 people in Mozambique and 259 in Zimbabwe, and numbers were expected to rise, relief agencies said. In Malawi, 56 died in heavy rains before the onset of Idai.

‘MISSING FAMILIES’

Left with nothing, many people at Guara Guara were concerned for their future or the health of their small children. But the biggest fear, a number of people said, was for relatives and friends they had not heard from since the waters started rising.

There is no electricity, phones or internet at the camp.

Louisa Ndena, 60, was sitting on the ground in a white aid tent surrounded by family members and toddlers.

“Besides our missing families, the thing we are most worried about is disease,” she said, explaining that there are no toilets, and if the village’s residents would not let them use theirs, they use bushes for privacy.

The International Committee of the Red Cross said on Friday its relief efforts included sending teams to the region to help families without access to telephones or the internet find their missing relatives.

“The agony of not knowing what happened to your loved ones in a disaster like Cyclone Idea is indescribable,” said Diane Araujo, an ICRC delegate deploying to Beira.

At Guara Guara, Albino Jose Albino, 18, was alone in the camp aside from friends, without an idea about what happened to his mother or seven siblings.

He too complained about a lack of food, water and shelter, but was more angry that he had no way to register his family as missing.

“They are not giving us details about our families, our lost families,” he said. “Someone should be responsible for this.”

(Additional reporting by Tom Miles in Geneva; Writing by Frances Kerry; Editing by Toby Chopra)

Source: OANN

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Man allegedly hid in ex-girlfriend’s Pittsburgh attic for weeks; faces burglary charges

A man who had allegedly been hiding out in his ex-girlfriend’s Pittsburgh home is now facing burglary charges, officials said.

Cary Michael Cocuzzi’s ex-girlfriend, who had a protection from abuse order against Cocuzzi, discovered her ex in her bedroom Saturday, authorities said.

The woman, who was not identified, told WPXI she saw signs around her home someone else was inside with her, such as when she discovered a blanket on the floor even though she hadn't left it there.

PENNSYLVANIA WOMAN KILLED FOLLOWING 'HORRIBLE' MEAT GRINDER INCIDENT: OFFICIAL

"I feel like this is going to affect me for the rest of my life," she told WPXI. “I had an intuition about it but I ignored it, I brushed it aside. I didn’t want to seem paranoid. But I should have trusted my instincts because I was right.”

Cocuzzi, 31, allegedly grabbed the woman, put a hand over her mouth and told her "Get over here," according to the criminal complaint.

However, she pushed him away and was able to make it outside, where her terrified screams spurred several neighbors to call 911, officials said.

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When police arrived and searched the home, they reported Cocuzzi was still there. They said he told officers he was homeless and had been sneaking in and out of the house for about two weeks.

The woman told the media outlet she was thankful her daughters were not at the residence at the time of the incident.

Cocuzzi is being held in the Allegheny County Jail and a preliminary hearing is slated for May 2. It was not immediately clear if he had retained an attorney.

The Associated Press contributed to this report.

Source: Fox News National

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Asian shares decline as U.S. jobs data clouds global outlook

A pedestrian holding an umbrella walks past an electronic board showing the graphs of the recent fluctuations of Japan's Nikkei average outside a brokerage in Tokyo
A pedestrian holding an umbrella walks past an electronic board showing the graphs of the recent fluctuations of Japan's Nikkei average outside a brokerage in Tokyo, Japan, January 18, 2016. REUTERS/Yuya Shino

March 11, 2019

By Hideyuki Sano

TOKYO (Reuters) – Asian shares pulled back on Monday after U.S. employment data raised doubts about the strength of the global economy while investor jitters ahead of crucial Brexit votes in the UK parliament this week weighed on the pound.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed from Friday’s three-week low. Japan’s Nikkei gained 0.4 percent in early trade after four consecutive sessions in the red last week.

Wall Street’s main indexes posted their biggest weekly decline since the market tumbled at the end of 2018 last week, falling for the fifth consecutive day on Friday on the shocking payrolls data.

The U.S. economy created only 20,000 jobs in February, the weakest reading since September 2017. As a result, bond yields dropped, with the 10-year Treasuries yield hitting a two-month low of 2.607 percent.

The two-year yield also hit a two-month low of 2.438 percent, edging near the current Fed funds rate around 2.40 percent.

Fed funds futures are pricing in more than 20 percent chance of a rate cut this year.

“The headline reading was so weak that the market could have reacted more aggressively. I would say markets reacted relatively calmly because there were elements that suggest weakness is temporary,” said Tomoaki Shishido, fixed income strategist at Nomura Securities.

While jobs growth was weak, average hourly earnings rose 11 cents, or 0.4 percent, raising the annual increase to 3.4 percent, the biggest gain since April 2009.

Fed Chair Jerome Powell said on Friday that the central bank will be careful not to shock financial markets as it stabilizes its bond portfolio, saying the it does not see problems in the U.S. economy that warrant an immediate change in its policy.

He also said the new normal for the Fed’s total liabilities may be in the ballpark of 16.5 percent of GDP.

Chinese data released over the weekend was slightly weaker though hopes for more policy support are likely to cushion any blows.

New bank loans in China fell a bit more than expected in February from a record the previous month, while money supply growth also missed forecast.

Following the data, China’s central bank on Sunday pledged to further support the slowing economy by spurring loans and lowering borrowing costs.

In the currency market, the euro stood at $1.12345, keeping some distance from Thursday’s $1.11765 hit after the European Central Bank’s surprisingly dovish stance. It was its lowest since late June 2017.

The dollar was softer at 111.12 yen, having peaked at a 2-1/2-month high of 112.135 last Tuesday.

The British pound was wobbly at $1.2986, having fallen to a three-week low of $1.2945 earlier on Monday on nervousness ahead of a crucial week in the UK’s troubled political debate over EU membership, with parliament expected to reject Prime Minister Theresa May’s deal in a vote on Tuesday.

If that happens, lawmakers will vote the next day on whether to leave without a deal on March 29. If they reject that, then on Thursday they are due to vote on a “limited” delay.

Oil prices steadied after dipping on Friday on concerns about a slower U.S. economic growth and surging U.S. oil supply.

U.S. West Texas Intermediate (WTI) crude futures rose 0.2 percent to $56.18 per barrel.

(Editing by Sam Holmes)

Source: OANN

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House panel chairman gives IRS April 23 deadline on Trump taxes

U.S. President Trump departs on travel to the Texas from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Texas from the White House in Washington, U.S., April 10, 2019. REUTERS/Kevin Lamarque

April 13, 2019

WASHINGTON (Reuters) – The Democratic chairman of the U.S. House Ways and Means Committee on Saturday set a new April 23 deadline for the Internal Revenue Service to comply with his request for six years of President Donald Trump’s personal and business tax returns.

In a letter to IRS Commissioner Charles Rettig, Ways and Means Chairman Richard Neal said the tax agency’s failure to comply with the new deadline would be interpreted as a denial of his request. The Trump administration has already failed to comply with an earlier April 10 deadline set by Neal.

(Reporting by David Morgan; Editing by James Dalgleish)

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

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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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