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India inflation seen inching up in March, but still below RBI target: Reuters poll

A vendor sells vegetables at a retail market in Kolkata
A vendor sells vegetables at a retail market in Kolkata, India, December 12, 2018. REUTERS/Rupak De Chowdhuri

April 9, 2019

By Anisha Sheth

BENGALURU (Reuters) – India’s retail inflation is expected to have accelerated in March on slightly higher food prices but remain under the Reserve Bank of India’s medium-term target of 4 percent, a Reuters poll predicted.

If the forecast is realized, March will be the eighth month in a row with below-target inflation, giving the RBI room to squeeze in another rate cut this year.

According to the median consensus of over 40 economists polled by Reuters between April 4-8, consumer prices rose at an annual rate of 2.80 percent in March, up from 2.57 percent in February.

Forecasts ranged between 2.43 percent and 3.10 percent.

“Headline CPI inflation will have remained low in March, even if, as we suspect, it rose slightly as food inflation continues to pick up. In particular, the sharp fall in vegetable inflation over recent months appears to have bottomed out,” said Shilan Shah, senior India economist at Capital Economics.

Food prices, which constitute nearly half of India’s CPI basket, declined 0.66 percent on-year in February compared with a drop of 2.24 percent in January.

Oil – India’s biggest import item – has risen over 30 percent this year and is currently trading at around $70 per barrel.

“Transport and utilities – which are clearly being driven by the rise in oil prices – are (also) driving headline inflation higher on a year-on-year basis,” said Prakash Sakpal, Asia economist at ING.

At its April 4 monetary policy meeting, the RBI lowered borrowing costs for the second consecutive time to spur growth, bringing the repo rate to 6.0 percent.

The rapid policy easings come just weeks before voting begins in a national election, the results of which will be announced in May.

“The growth argument is not strong for easing policy just yet. Growth is slowing indeed, but it is not just India, it is slowing everywhere. (But) India still has very strong domestic demand,” said ING’s Sakpal.

According to a Reuters poll last week, economic growth is forecast to average 7.2 percent over the coming year.

But while inflation is predicted to rise to the RBI’s target this year, just under half of economists polled by Reuters last week predicted another rate cut.

“The RBI will almost certainly follow up its cumulative 50bp of rate cuts this year with further loosening, perhaps as soon as June,” said Shah at Capital Economics.

“But with core inflation still elevated, we think that further policy loosening will prove to be a policy mistake.”

(Polling by Khushboo Mittal and Manjul Paul; Editing by Shri Navaratnam)

Source: OANN

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Zimbabwe seeks $613 million aid from donors after drought, cyclone

FILE PHOTO: A man gestures next to his car after it was swept into debris left by Cyclone Idai in Chimanimani, Zimbabwe
FILE PHOTO: A man gestures next to his car after it was swept into debris left by Cyclone Idai in Chimanimani, Zimbabwe, March 23, 2019. REUTERS/Philimon Bulawayo/File Photo

April 9, 2019

HARARE (Reuters) – Zimbabwe appealed on Tuesday for $613 million in aid from local and foreign donors to cover food imports and help with a humanitarian crisis after a severe drought and a cyclone that battered the east of the country.

An El Nino-induced drought has wilted crops across Zimbabwe and left about a third of its 15 million people in need of food assistance, according to a U.N. agency.

The situation was worsened when Zimbabwe, along with Mozambique and Malawi, were last month battered by Cyclone Idai, leaving hundreds of thousands needing food, water and shelter.

An appeal document given to reporters by the ministry of information showed the government is seeking about $300 million in aid for food while the rest would fund emergency shelters, logistics and telecommunications among other needs.

Hundreds of people have died in Mozambique and Malawi and the death toll in Zimbabwe was now 344.

Meanwhile, Information Minister Monica Mutsvangwa said the cabinet had hiked the maize price paid to farmers by 86 percent to $232 a tonne and maintained a subsidy for millers in a bid to keep the price of the staple maize meal down.

In February, Zimbabwe scrapped a 1:1 peg between the U.S. dollar and the bond notes and electronic dollars it introduced to compensate for its hard currency shortage, merging the surrogate currencies into the RTGS dollar.

Mutsvangwa said farmers would be paid 726 RTGS dollars ($232), up from 390 RTGS dollars.

The RTGS dollar was trading at 3.12 to the U.S. dollar on Tuesday on the bank market and at 4.4 on the black market.

The government is the sole buyer and seller of maize in Zimbabwe through the state-owned Grain Marketing Board.

(Reporting by MacDonald Dzirutwe; Editing by Mark Heinrich)

Source: OANN

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No EU tax haven blacklist today, chairman Romania says

Italian Economy Minister Tria attends a eurozone finance ministers meeting in Brussels
Italian Economy Minister Giovanni Tria attends a eurozone finance ministers meeting in Brussels, Belgium January 21, 2019. REUTERS/Francois Lenoir

March 12, 2019

BRUSSELS (Reuters) – European Union finance ministers are unlikely to adopt a new blacklist of tax havens at their monthly meeting on Tuesday, the meeting chair, Romanian Finance Minister Eugen Teodorovici, told reporters.

The largest review of the blacklist since its adoption in December 2017 is expected to see the number of listed jurisdictions triple from the current five. However, EU governments have been divided over some of the countries that would be added.

EU documents show that Italy and Estonia are the only countries in the 28-nation bloc that object to the new list, as they are pushing not to add the United Arab Emirates (UAE).

EU decisions on tax matters require the backing of all EU states.

Italy’s Finance Minister Giovanni Tria said on Tuesday that Rome wanted to give more time to the UAE to adopt legislation that would allow it to comply with EU tax standards.

Asked whether he will lift his veto on UAE listing, he said: “Our opinion does not change but we will take into account the positions of other states,” he said, adding that if the UAE was listed, the country would quickly be delisted once its new legislation is adopted.

(Reporting by Francesco Guarascio; Editing by Alastair Macdonald and Philip Blenkinsop)

Source: OANN

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Sanders: Trump Unashamed of Twitter Attack of Rep. Omar

President Donald Trump isn’t ashamed for criticizing Rep. Ilhan Omar, D-Minn., over 9/11 remarks that’ve been condemned as dismissive — and will keep “calling her out and holding her accountable,” White House press secretary Sarah Sanders said Sunday.

In an interview on “Fox News Sunday,” Sanders denied accusations Trump’s twitter response incites violence against Omar and other Muslims.

“He's not trying to incite violence against anybody, he's speaking out against it,” Sanders asserted, adding: “If she continues to do that the president will continue to call her out, call her out by name and he's not going to be ashamed nor should he be.”

 “The only shame … I see in this is Democrats and others aren't standing up and taking the same hard-line that the president is,” Sanders said, calling the 9/11 terror attacks “one of the most horrific moments in American history.”

“And for her to talk about it in such a dismissive way is frankly disgusting and abhorrent, and glad the president is calling her out and holding her accountable for it,” she said. 

Source: NewsMax Politics

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Peter Schiff Slams Fed for Printing Money While Artificially Keeping Interest Rates Down

During the New Orleans Investment Conference, Peter Schiff participated in a panel discussion with Ben Hunt and Mike Larson. They talked about bubbles, booms and busts.

Hunt called it the “bubble of everything.” But he said the “gravitational force” created by all of the assets central banks have purchased over the last year have changed the “bubble-popping process.” That makes it hard to predict when things will actually start to deflate. He said it will take something the undermines the market confidence that central banks can bail us out. Hunt said inflation was possibly the pin that could prick the bubble.

Larson called it the “uber-bubble,” and he said he already sees some of the background concerns that have been simmering for  a long time are starting to “bubble over.” (Pun intended.) He said the last two bubbles were high in amplitude, but limited to certain parts of the economy (dot-coms and housing). The current bubble isn’t as high in amplitude, but it’s broader-based. We see bubbles in stocks, high-yield bonds, housing (again), and commercial real estate, along with a lot of other assets you don’t hear as much about – such as art and comic books.

“I think the process of unwinding this is already beginning.”

Peter focused in on the cause of the bubbles.

“When you see rampant, wide-scale bad decisions, generally a central banker is behind it, and they have made a bad decision to create too much money and to artificially manipulate interest rates down.”

This creates distortions in the economy because interest rates are really nothing more than price signals.

“And like all prices, they need to be determined by the free market.”

Whenever the government – and central banks are really an extension of governments – price fixes something, it creates big distortions and malinvestments.

“We have had artificially low-interest rates for an unprecedented number of years at an unprecedented low rate. So, the mistakes that have been made during this time period dwarf the mistakes that have ever been made in any bubble in the past because the bubble is so much bigger.”

When a bubble finally bursts, it’s really just the free market trying to clean up the mess created by the intervention. The bigger the boom, the bigger the bust.

“The problem now is that the boom is so big that the bust will be catastrophic. And what’s going to make this bust different is that there is no bailout. There is no stimulus. It is impossible to reflate this bubble, because, as has been said, this is a bubble of everything. They can’t make a bubble go someplace else. It already is everyplace.”

(Photo by Wikimedia Commons)

Peter said the only place there isn’t a bubble is in gold. That means there is also a bubble in complacency and optimism.

“People are so drunk on all this cheap money, they think nothing can go wrong.”

As far as what pin will prick the bubble, Peter said there are all kinds of pins out there. The problem is that when you’re in a bubble, you can’t see the pins.

The panel goes on to discuss some of the specific manifestations of the bubbles and where they see trouble spots.

And Peter makes a pitch for gold, saying his 24 karat gold cufflinks will outperform the S&P 500 over the next five years. He pointed out that when they started popping the dot-com bubble, gold was under $300. It got as high as $1,900 in 2011.

“This game is not over. The fat lady hasn’t sung yet. When this final bubble pops, gold is going through the roof –I do think that by the time this bubble has run its course, you’ll be able to buy the Dow Jones for an ounce of gold.”


Owen Shroyer delivers an epic rant on how U.S. soldiers were disrespected at the southern border by the Mexican Army.

Source: InfoWars

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British religious activist found dead in Peru

A British religious activist who faced expulsion from Peru a decade ago for his work on behalf of indigenous communities has been found dead at a youth hostel he ran in the Amazon rain forest.

Paul McAuley, 71, had long worked to embolden Peru's historically discriminated tribes in the battle against powerful oil and mining interests.

In 2010, the government tried unsuccessful to strip him of his residency for allegedly inciting unrest after he fought attempts to open up the Amazon to drilling.

The La Salle Christian Brothers said in a statement Tuesday that the lay activist had been burned to death.

Authorities are questioning six indigenous youth who lived in the hostel he managed in a poor section of the city of Iquitos.

Source: Fox News World

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Report: Romo seeking $10 million a year from CBS

FILE PHOTO - Dallas Cowboys quarterback Tony Romo takes the stage to introduce a performance by Dieks Bentley at the 50th Annual Academy of Country Music Awards in Arlington
FILE PHOTO - Dallas Cowboys quarterback Tony Romo takes the stage to introduce a performance by Dieks Bentley at the 50th Annual Academy of Country Music Awards in Arlington, Texas April 19, 2015. REUTERS/Mike Blake

March 27, 2019

Tony Romo could become the first football analyst to earn $10 million per year.

Sources told the Sporting News that Romo’s team is seeking a contract of “eight figures” to stay as the No. 1 football analyst as CBS. He is under contract to the network through the 2019 season at $4 million annually.

Romo, the former Dallas Cowboys quarterback, retired after the 2016 season and joined Jim Nantz in the booth at CBS in 2017, replacing Phil Simms.

In the 2018 postseason, the 38-year-old Romo became a star for his ability to assess the game situation and predict the plays coaches would call right before they did.

The day after the AFC championship game in January, when Romo seemed to be reading the minds of coaches Bill Belichick and Andy Reid, the New York Post reported that CBS likely would give Romo a “substantial” raise

The Post said John Madden, who bounced around the networks, earned $8 million. Troy Aikman is under contract to Fox for $7.5 million, and Jon Gruden made $6.5 million at ESPN for his appearance on “Monday Night Football” and other platforms before leaving to coach the Raiders, the Sporting News said.

–Field Level Media

Source: OANN

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“Outdated laws” need fixing to deal with the surge in illegal immigrant families crossing the U.S. border with Mexico, a top Border Patrol official said Friday.

Migrant families face no consequences if apprehended trying to cross the border illegally under present law, Border Patrol chief of Operations Brian Hastings claimed during an appearance on “Fox & Friends.”

“We need a change in the current outdated laws that we’re dealing with for this current demographic and this crisis that we have,” he said.

Hastings said as of Thursday there have been 440,000 apprehensions along the southwest border. There were 396,000 apprehensions all of last year.

SOUTHERN BORDER AT ‘BREAKING POINT’ AFTER MORE THAN 76,000 ILLEGAL IMMIGRANTS TRIED CROSSING IN FEBRUARY, OFFICIALS SAY

And those numbers continue to rise, he said.

Historically 70 to 90 percent of apprehensions at the border were quickly returned to Mexico, Hastings said.

Now, 83 percent of those apprehended have come from the Central American northern triangle which includes Guatemala, El Salvador, and Honduras, and of those 63 percent are “family units” and children who cannot be returned, he said.

“There are no consequences that we can apply to this group currently,” Hastings said. “We’re overwhelmed. If you look at agents there doing a tremendous job trying to deal with the flow.”

The law dictates children have to be released after 20 days of detention.

FLORIDA SHERIFF ON BORDER CRISIS AFTER MAJOR DRUG BUST: ‘IT MAKES ME ABSOLUTELY CRAZY’

Sen. Lindsey Graham, R-S.C., says that has forced immigration officials to release entire families because “you don’t want to separate families.”

Recently, he said he is drafting legislation that would allow children to be detained for more than 20 days.

Hastings said agents are frustrated with the situation but are doing the best they can with the resources they have.

CLICK HERE TO GET THE FOX NEWS APP

“Up to 40 percent of our agents are processing at any given time,” he said. “That should say that in and of itself is pulling from those border security resources.”

Source: Fox News National

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President Trump on Friday blasted liberal billionaire activist Tom Steyer for his continued push to impeach Trump — with Trump claiming Steyer is “trying to remain relevant” and doesn’t have the “guts” to run for the White House himself.

“Weirdo Tom Steyer, who didn’t have the ‘guts’ or money to run for President, is still trying to remain relevant by putting himself on ads begging for impeachment,” the president tweeted. “He doesn’t mention the fact that mine is perhaps the most successful first 2 year presidency in history & NO C OR O! [Collusion or Obstruction]”

TRUMP IMPEACHMENT BACKERS NOT GIVING UP AFTER MUELLER REPORT

Trump and his allies have pointed to Special Counsel Robert Mueller’s Russia report’s conclusions that there was no evidence of collusion between Russia and the Trump campaign and its decision not to make a conclusion on obstruction of justice as a vindication for the president.

But some Democrats and left-wing activists have pointed to the instances of possible obstruction of justice that the investigation looked into as proof of the need for more investigations or even impeachment proceedings.

ELIZABETH WARREN DOUBLES DOWN ON TRUMP IMPEACHMENT PUSH, SAYS IT’S ‘BIGGER THAN POLITICS’

Steyer has been one of the leaders backing a push to impeach Trump and founded “Need to Impeach” and has kept up that push since the report’s release. He announced on Thursday that he was calling on Speaker Nancy Pelosi, D-Calif., to support impeachment proceedings.

On Friday he responded to Trump’s tweet, calling him “angry and scared.”

“I know you want it all to go away. But for the sake of the country you must face your transgressions. Rage away, but that anger doesn’t matter,” he said in a tweet. The truth and the people will prevail.”

CLICK HERE TO GET THE FOX NEWS APP

Impeachment hearings have been backed by a number of House Democrats, as well as 2020 presidential hopefuls Sens. Elizabeth Warren, D-Mass., and Kamala Harris, D-Calif. However, Pelosi has long been skeptical of impeachment proceedings against Trump.

“I’m not for impeachment,” Pelosi told The Washington Post in an interview last month. “Impeachment is so divisive to the country that unless there’s something so compelling and overwhelming and bipartisan, I don’t think we should go down that path, because it divides the country. And he’s just not worth it.”

Source: Fox News Politics

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A Florida measure that would ban sanctuary cities is set for a vote Friday in the state’s Senate after clearing its first hurdle earlier this week.

The bill would effectively make it against the law for Florida’s police departments to refuse to cooperate with federal immigration officials.

“The Governor may initiate judicial proceedings in the name of the state against such officers to enforce compliance,” a draft version of the Senate bill reads.

A House version of the bill, which passed by a 69-47 vote Wednesday, adds that non-complying officials could be suspended or removed from office and face fines of up to $5,000 per day. Republican Gov. Ron DeSantis is expected to sign off on the measure, although it’s not clear which version.

FLORIDA MAY SEND A BIG MESSAGE TO SANCTUARY CITIES

Florida Rep. Carlos Guillermo Smith (D-Orlando), during a press conference at the Florida Capitol in Tallahassee, speaks out against bills in the House and Senate that would ban sanctuary cities in the state.

Florida Rep. Carlos Guillermo Smith (D-Orlando), during a press conference at the Florida Capitol in Tallahassee, speaks out against bills in the House and Senate that would ban sanctuary cities in the state. (AP)

LAWRENCE JONES: NEEDLES, DRUG USE AND HUMAN WASTE ARE THE NEW NORMAL IN SAN FRANCISCO

Florida is home to 775,000 illegal immigrants out of 10.7 million present in the United States, ranking the state third among all states.

Nine states — Alabama, Arizona, Georgia, Iowa, North Carolina, Mississippi, Missouri, Tennessee and Texas — already have enacted state laws requiring law enforcement to comply with Immigration and Customs Enforcement.

Florida doesn’t have sanctuary cities like the ones in California and other states. But Republican lawmakers say a handful of their municipalities — including Orlando and West Palm Beach – are acting as “pseudo-sanctuary” cities, because they prevent law enforcement officials from asking about immigration status when they make arrests.

“There are still people here in the state of Florida, police chiefs that are just refusing to contact ICE, refusing to detain somebody that they know is here illegally,” Florida Republican Rep. Blaise Ingoglia said earlier this month. “So while the actual county municipality doesn’t have an actual adopted policy, they still have people in power within their sheriff’s department or police department that refuse to do it anyway.”

Florida’s Democratic Party has blasted the anti-Sanctuary measures, while the Miami-Dade Police Department says it should be up to federal authorities to handle immigration-related matters.

CLICK HERE TO GET THE FOX NEWS APP

“House Republicans today sold out their communities to Donald Trump and Ron DeSantis by passing this xenophobic and discriminatory bill,” the state’s Democratic Party said Wednesday after the House passed their version of the bill. “It’s abhorrent that Republican members who represent immigrant communities are now turning their backs on their constituents and jeopardizing their safety.

“Florida has long stood as a beacon for immigrant communities — and today Republicans did the best they could to destroy that reputation,” they added.

Fox News’ Elina Shirazi contributed to this report.

Source: Fox News National

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FILE PHOTO: Supporters of the Spain's far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville
FILE PHOTO: Supporters of the Spain’s far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville, Spain April 24, 2019. REUTERS/Marcelo del Pozo/File Photo

April 26, 2019

By John Stonestreet and Belén Carreño

MADRID (Reuters) – Spain’s Vox party, aligned to a broader far-right movement emerging across Europe, has become the focus of speculation about last minute shifts in voting intentions since official polling for Sunday’s national election ended four days ago.

No single party is anywhere near securing a majority, and chances of a deadlocked parliament and a second election are high.

Leaders of the five parties vying for a role in government get final chances to pitch for power at rallies on Friday evening, before a campaign characterized by appeals to voters’ hearts rather than wallets ends at midnight.

By tradition, the final day before a Spanish election is politics-free.

Two main prizes are still up for grabs in the home straight. One concerns which of the two rival left and right multi-party blocs gets more votes.

The other is whether Vox could challenge the mainstream conservative PP for leadership of the latter bloc, which media outlets with access to unofficial soundings taken since Monday suggest could be starting to happen.

The right’s loose three-party alliance is led by the PP, the traditional conservative party that has alternated in office with outgoing Prime Minister Pedro Sanchez’s Socialists since Spain’s return to democracy in the 1970s.

The PP stands at around 20 percent, with center-right Ciudadanos near 14 percent and Vox around 11 percent, according to a final poll of polls in daily El Pais published on Monday.

Since then, however, interest in Vox – which will become the first far-right party to sit in parliament since 1982 – has snowballed.

It was founded in 2013, part of a broader anti-establishment, far-right movement that has also spread across – among others – Italy, France and Germany.

While it is careful to distance itself from the ideology of late dictator Francisco Franco, Vox’s signature policies include repealing laws banning Franco-era symbols and on gender-based violence, and shifting power away from Spain’s regional governments.

TRENDING

According to a Google trends graphic, Vox has generated more than three times more search inquiries than any other Spanish political party in the past week.

Reasons could include a groundswell of vocal activist support at Vox rallies in Madrid and Valencia, and its exclusion from two televised debates between the main party leaders, on the grounds of it having no deputies yet in parliament.

Conservative daily La Vanguardia called its enforced absence from Monday’s and Tuesday’s debates “a gift from heaven”, while left-wing Eldiario.es suggested the PP was haemorrhaging votes to Vox in rural areas.

Ignacio Jurado, politics lecturer at the University of York, agreed the main source of additional Vox votes would be disaffected PP supporters, and called the debate ban – whose impact he said was unclear – wrong.

“This is a party polling over 10 percent and there are people interested in what it says. So we lose more than we win in not having them (in the debates),” he said

For Jose Fernandez-Albertos, political scientist at Spanish National Research Council CSIC, Vox is enjoying the novelty effect that propelled then new, left-wing arrival Podemos to 20 percent of the vote in 2015.

“While it’s unclear how to interpret the (Google) data, what we do know is that it’s better to be popular and to be a newcomer, and that Vox will benefit in some form,” he said.

For now, the chances of Vox taking a major role in government remain slim, however.

The El Pais survey put the Socialists on around 30 percent, making them the frontrunners and likely to form a leftist bloc with Podemos, back down at around 14 percent.

The unofficial soundings suggest little change in the two parties’ combined vote, or the total vote of the rightist bloc.

That makes it unlikely that either bloc will win a majority on Sunday, triggering horse-trading with smaller parties favoring Catalan independence – the single most polarizing issues during campaigning – that could easily collapse into fresh elections.

(Election graphic: https://tmsnrt.rs/2ENugtw)

(Reporting by John Stonestreet and Belen Carreno, Editing by William Maclean)

Source: OANN

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The Amish population in Pennsylvania’s Lancaster County is continuing to grow each year, despite the encroachment of urban sprawl on their communities.

The U.S. Census Bureau says the county added about 2,500 people in 2018. LNP reports that about 1,000 of them were Amish.

Elizabethtown College researchers say Lancaster County’s Amish population reached 33,143 in 2018, up 3.2% from the previous year.

The Amish accounted for about 41% of the county’s overall population growth last year.

Some experts are concerned that a planned 75-acre (30-hectare) housing and commercial project will make it more difficult for the county to accommodate the Amish.

Donald Kraybill, an authority on Amish culture, told Manheim Township commissioners this week that some in the community are worried about the development and the increased traffic it would bring.

___

Information from: LNP, http://lancasteronline.com

Source: Fox News National

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