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Buffett’s Suncor bet to revive investor interest in Canadian energy

FILE PHOTO: A Suncor refinery is seen in Sherwood Park
FILE PHOTO: A Suncor refinery is seen in Sherwood Park, near Edmonton, Alberta, Canada, November 13, 2016. REUTERS/Chris Helgren/File Photo

February 20, 2019

By John Tilak and Fergal Smith

TORONTO (Reuters) – Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.

The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada’s oil-rich Alberta province, which has an election this year.

Berkshire’s new 0.7 percent stake in Suncor, valued at C$488 million ($370.54 million) at current prices, is already worth 23 percent more since Berkshire bought it in the last quarter. It comes more than two years after it sold for $618 million a 1.4 percent stake it had bought in 2013 and added to in 2015.

Its re-entry is seen by analysts as a validation that Canada’s biggest oil and gas company has catalysts – such as a new incoming CEO and the eventual removal of Alberta oil curtailments – that could propel the stock higher.

Berkshire has not publicly discussed its reasons for its recent investment in Suncor, and did not comment when reached by Reuters.

While a bet on Suncor is not seen as a play on the entire industry, major Berkshire shareholder Warren Buffett’s stature as a value investor is expected to prompt other funds to wade back into the Canadian energy sector.

“People always pay attention when Warren Buffett makes a play, and I don’t think it will be any different this time around,” said Mike Archibald, associate portfolio manager at AGF Investments Inc.

“It’s a great signal that foreign capital is starting to flow back to Canada as this will ultimately be the main driver of stock prices.”

Investors and some foreign majors have shunned Canada’s oil patch in recent years due to high production costs, environmental concerns, and difficulties moving crude due to clogged pipelines.

BETTER PLACED

Berkshire has largely avoided big-cap energy stocks with the exception of an investment in Exxon Mobil Corp, which it owned for more than a year before selling the more than $3 billion stake in late 2014 as oil prices fell.

Suncor, however, is positioned to weather more adverse market conditions than many producers because it owns refineries and has committed pipeline space, allowing it to access U.S. markets.

“Berkshire is typically a countercyclical value investor, so we are not surprised the interest was renewed in a name like Suncor,” said Cavan Yie, portfolio manager at Manulife Asset Management, which manages about $364 billion in assets. Suncor is one of his largest positions.

“Suncor is somewhat insulated from these risks given the fact that they have a strong downstream operation, which financially benefits from oil bottlenecks and that is unique to Suncor, which you can’t get with many other companies in the energy space.”

Suncor shares are up 23 percent year-to-date giving it a $54.6 billion market value, compared with 11 percent for the Toronto Stock Exchange 300 Composite Index.

Buffett has found an “attractive entry point for an out-of-favor sector” and a “good high-quality company that is industry leading”, said Brian Pow, vice president of research and equity analyst at Acumen Capital Finance Partners.

In another Canadian investment, Buffett bought into Home Capital in 2017 when the Canadian alternative mortgage lender was under pressure and made a big profit by largely exiting the position late last year.

Some investors are betting that a change in government in Alberta after a spring election could benefit the oil industry. The governing New Democrats have taken big steps to help the industry, including leasing rail cars this week to move oil, but badly needed pipelines remain stalled due to opposition from environmentalists.

“While a new governing party may not change the actual end outcomes of the pipeline discussion, it may provide some optimism that a new set of solutions will be pursued,” AGF’s Archibald said.

(Reporting by John Tilak and Fergal Smith in Toronto,; Additional reporting by Jonathan Stempel in New York and Rod Nickel in Winnipeg, Manitoba; Editing by Susan Thomas)

Source: OANN

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Workers help Nepal storm displaced with food, shelter

Government workers and private volunteers are providing food, tents and clothing to the thousands of people in southern Nepal who lost their homes and belongings in a weekend storm.

Police officers and soldiers were helping dig through debris Tuesday to help the victims salvage what was left of their belongings and the victims were asking the government for help to rebuild their homes and farms.

The Sunday night wind and rain storm left 28 people dead and hundreds injured. Police said most of the deaths were caused by collapsing walls and falling bricks in homes and toppled trees and electrical poles.

The area is about 120 kilometers (75 miles) south of the capital, Kathmandu.

Source: Fox News World

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Pentagon authorizes up to $1B to start 57 miles of border wall construction

The Pentagon notified Congress late Monday that it authorized the transfer of up to $1 billion to erect 57 miles of "pedestrian fencing" along the U.S.-Mexico border in direct support of President Trump's national emergency declaration from last month.

The fencing, which will be 18 feet high, is to be erected in the Yuma and El Paso sectors, the statement read. The Pentagon's announcement was notable. A reporter from the New York Times tweeted that it is the first time the funds will be transferred under section 284 for the border wall.

Section 284 allows the Pentagon to "construct roads and fences and to install lighting to block drug-smuggling corridors across international boundaries of the United States in support of counter-narcotic activities of Federal law enforcement agencies," the statement read.

The Pentagon's announcement was made as Trump nears a victory over Democrats as the House tries to override his first veto, a vote that seems certain to fail and allow his declaration to stand. The vote, which is set for Tuesday, would keep the border emergency intact, which for now, would allow the president to shift an additional $3.6 billion from military construction projects to work on a barrier along the southwest boundary.

"The president will be fine in the House," said Minority Leader Kevin McCarthy, R-Calif., in a brief interview. "The veto will not be overridden."

Donald Trump Jr. tweeted, “Christmas came early this week,” in response to the announcement.  He was likely also referring to special counsel Robert Mueller’s report that said there was no evidence of collusion between the Trump campaign and Russia in the 2016 presidential election.

Patrick M. Shanahan, the acting Secretary of Defense, announced that the funds will be used to support the Department of Homeland Security and Customs and Border Patrol. He authorized the Army Corps of Engineers to begin its planning and execution.

A group of Democratic senators criticized the Pentagon’s move and called the maneuver a violation of congressional appropriations, Bloomberg reported. Democrats have called the national emergency declaration a crisis manufactured by Trump

"The $1 billion reprogramming that the department is implementing without congressional approval constitutes a dollar-for-dollar theft from other readiness needs of our Armed Forces," Sens. Patrick Leahy, D-Vt., Dick Durbin, D-Ill., and others wrote in a letter to Shanahan, according to the report.

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Even with his veto remaining intact, Trump may not be able to spend the money for barriers quickly because of lawsuits that might take years to resolve.

The Associated Press contributed to this report

Source: Fox News Politics

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Trump Quotes Daughter-in-Law: Dems 'Frantic' to Attack President

President Donald Trump early Thursday quoted daughter-in-law Lara Trump from her appearance on Fox News' "Hannity" program, where she defended him against the House Judiciary Committee's document requests from 81 people associated with the president and campaign, her own husband Eric included.

“'Democrats are frantic to throw something else at the president,'" Trump tweeted, quoting her comments to show host Sean Hannity. "'That’s why you saw those 81 subpoenas. It’s ridiculous. Just because your (SIC) still upset over an election that happened 2 1/2 years ago, you should not be allowed to ruin people’s lives like this.'"

Lara Trump, a senior campaign adviser for her father-in-law's re-election bid, told Hannity that the House Democrats' investigations into the president's possible criminal acts show how much they fear him.

"The campaign will be vindicated," she said. "The truth comes out at the end. And I think that Democrats right now are showing how scared they are with the fact that they view [special counsel Robert Mueller's] report is probably going to be released soon because they are frantic to find something else to throw at the president, to throwing anybody close to him."

She added that there is "full confidence" that "the right things happen because we know the president, the campaign, nobody's done anything wrong here."

Source: NewsMax Politics

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May’s Brexit deal is where I hope we end up, British minister says

Britain's Secretary of State for Education Damian Hinds is seen outside Downing Street in London
Britain's Secretary of State for Education Damian Hinds is seen outside Downing Street in London, Britain, March 25, 2019. REUTERS/Hannah Mckay

April 2, 2019

LONDON (Reuters) – Prime Minister Theresa May’s Brexit deal remains by far the best option for Britain’s exit from the European Union, Education Secretary Damian Hinds said on Tuesday.

“The government’s negotiated deal is the best balance and I hope and expect that is still where we will end up,” Hinds told BBC television. “Its still the best option, its still the best option actually by far.”

He said a no-deal Brexit was not an “optimal outcome”.

(Reporting by Guy Faulconbridge; editing by Michael Holden)

Source: OANN

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Bernie Sanders could beat Trump in 2020: Karl Rove

Republican strategist Karl Rove said on “Fox & Friends” Friday that Sen. Bernie Sanders' town hall on Fox earlier this week convinced him that the presidential candidate could win the Oval Office in 2020.

He credited Sanders, who is 77 and from Vermont, for bucking the decision of the Democratic National Committee (DNC) chair, Tom Perez, to exclude Fox News from hosting a Democrat primary debate.

“First of all, the simple fact that he went on” despite Perez’s decision, was impressive, Rove said.

Despite Perez’s “attempt to keep [the Democratic candidates] off Fox, Bernie comes on to Fox, and gets the largest viewership of any campaign event thus far.”

“That was a smart move on his part,” Rove said.

Rove, who was the architect of George W. Bush’s presidential campaigns in 2000 and 2004, said that it is apparent that Sanders has run for president before and has learned from earlier missteps.

HOW BERNIE WENT FROM SOCIALIST GADFLY TO FRONTRUNNER

“He is a lot more fluid,” Rove said, noting that Sanders deftly pivoted to the messages he wanted to push when Fox News anchors Martha MacCallum and Bret Baier asked him tough questions about his taxes and to respond to presidential contender and South Bend (Indiana) Mayor Pete Buttigieg’s call for a “new generation of leadership.”

“He says ‘I paid all the taxes I owe,’ and he quickly pivots and says ‘I released 10 years of tax returns, President Trump ought to do the same.’ Martha says ‘You know, here’s Mayor Pete, he says there should be a new generation of leadership. You will be 79 if you’re sworn in as president.’ He makes a joke. He says ‘It’s a fair question.’ He says ‘It’s not whether you’re young or old, it’s what you believe.’”

“Every time he brought it back to his message,” said Rove, who wrote about Sanders' strong 2020 prospects in a Wall Street Journal editorial this week. “That demonstrated to me that he has learned from having run before. He really did a good job of softening the edges of socialism. Whenever the issue came up, he made it feel warm and fuzzy, kumbaya, shake hands, run around the campfire.”

Rove noted that Sanders stressed the importance of not having an all anti-Trump message.

Sanders said that Democrats “will lose if we spend our time bashing Trump.”

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“He was focused on what he was for,” Rove said.

But while Sanders, a self-styled democratic socialist, tries to make socialism seem mainstream, he failed to provide details about how such concepts as Medicare-for-all would be funded, Rove said.

“He says, ‘Everything we propose we’re paying for,’ without telling us that it’s trillions and trillions and trillions of dollars.”

Rove said that Trump’s camp seems to view Sanders as a formidable contender for 2020.

“Some of the Trump campaign people said ‘You know what? We’re paying attention to this guy. We’ve got to take him seriously.’”

Source: Fox News Politics

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Britain and China to hold new round of financial talks in London in June

Britain's Chancellor of the Exchequer Philip Hammond attends a meeting with Chinese Vice Premier Hu Chunhua in Beijing
Britain's Chancellor of the Exchequer Philip Hammond attends a meeting with Chinese Vice Premier Hu Chunhua (not pictured) at Diaoyutai State Guesthouse in Beijing, China, April 25, 2019. REUTERS/Jason Lee/Pool

April 25, 2019

By William James

LONDON (Reuters) – Britain and China will hold the next round of their Economic and Financial Dialogue (EFD) in mid-June in London, finance minister Philip Hammond said on Thursday, after months of reports that talks had been delayed by diplomatic tension.

The EFD has been used in the past to announce closer cooperation on trade and banking initiatives, and to sign commercial contracts.

However, relations between London and Beijing have been strained in recent years, most notably after a British warship sailed close to islands claimed by China last August.

The EFD talks were agreed during Hammond’s visit to Beijing to speak at a summit on China’s Belt and Road Initiative, championed by President Xi Jinping, which envisions rebuilding the old Silk Road to connect China to Asia and beyond with extensive infrastructure investment.

“By deepening our cooperation on financial services, trade, and investment with international partners, we can ensure Britain’s global future,” Hammond said in a statement.

In that light, Britain will view the agreement of potentially lucrative talks as a success and a step closer to rebuilding the close ties seen earlier in the decade when then-finance minister George Osborne successfully courted Chinese investment.

Hammond said the talks would continue the “golden era” of cooperation – a phrase used repeatedly since Xi’s state visit to London in 2015 which has become a byword for Britain’s pitch to tap the investment power of the Chinese state.

Earlier on Thursday, Chinese Vice Premier Hu Chunhua expressed regret to Hammond that the South China Sea issue had harmed ties, and that he hoped Britain could “respect China’s core interests and important concerns”.

A Treasury statement said Hammond was due to tell the Belt and Road forum that Britain is a “natural partner for quality global infrastructure initiatives due to the world class talent and expertise the UK has to offer.”

The Chinese initiative has become mired in controversy, with some partner nations bemoaning the high cost of projects, though China has repeatedly said it is not seeking to trap anyone with debt.

Hammond will emphasis in his remarks that projects must meet international standards on governance, debt sustainability and environmental impact, the Treasury said.

(Reporting by William James, additional reporting by Andy Bruce, Editing by Kylie MacLellan and Elizabeth Piper)

Source: OANN

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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.”

CLICK HERE TO GET THE FOX NEWS APP

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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