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Winston scores 26 as Michigan State survives Bradley scare

NCAA Basketball: NCAA Tournament-First Round-Bradley vs Michigan State
Mar 21, 2019; Des Moines, IA, United States; Michigan State Spartans forward Xavier Tillman (23) drives to the basket against Bradley Braves guard Nate Kennell (25) during the second half in the first round of the 2019 NCAA Tournament at Wells Fargo Arena. Mandatory Credit: Steven Branscombe-USA TODAY Sports

March 21, 2019

Cassius Winston scored 26 points to lead No. 2 Michigan State to a 76-65 victory over No. 15 Bradley in Thursday’s first round of the East Region of the NCAA Tournament in Des Moines, Iowa.

Winston made all eight of his free throws and the Spartans (29-6) finished 25-of-26 at the stripe. Xavier Tillman had 16 points and 11 rebounds and Matt McQuaid added 10 points.

Elijah Childs scored 19 to lead Bradley (20-15), the tournament champions from the Missouri Valley Conference who were back in the NCAA tourney for the first time in 13 years. Darrell Brown added 17 points, Dwayne Lautier-Ogunleye scored 14 and the Braves made nine 3-pointers to keep the game close.

It didn’t take Michigan State long to realize it was in a for a fight as Bradley jumped to a quick 10-4 lead, nailing a pair of 3-pointers. The Spartans responded with a 9-0 run to take a 13-10 lead, but the momentum would be short lived for Michigan State.

The Spartans could never pull away, going just 2 for 10 from 3-point range in the first half. Meanwhile, Bradley buried 6 of 9 from long range, its final two giving the Braves a 35-34 lead at halftime after Michigan State failed to get a shot off on its final possession.

After Childs scored the first four points of the second half, Michigan State went on a 10-0 run to take a 44-39 lead with 16:49 to play and pushed that advantage to 50-43, capping a 16-4 surge when Nick Ward hit a pair of free throws.

But two straight turnovers led to five Bradley points in a matter of seconds, followed by an offensive foul on Ward with 11:34 to play.

Brown then buried a deep 3-pointer to give Bradley a 51-50 lead that went back and forth over the next few possessions, with Tillman putting Michigan State ahead 54-53 on a layup with 7:43 left in the game.

Winston scored four straight to put Michigan State up 58-55 with just more than four minutes to play. McQuaid then hit a 3-pointer from the wing followed by a jumper in the lane from Aaron Henry to give the Spartans a 63-55 lead with 2:41 to play.

Bradley ran out of gas from there as Michigan State converted 11 of its last 12 free throws.

–Field Level Media

Source: OANN

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Simpson and Cantlay flirt with Masters course record

FILE PHOTO: Patrick Cantlay of the U.S. hits off the 2nd tee during the second day of practice for the 2019 Masters golf tournament at the Augusta National Golf Club in Augusta, Georgia, U.S.
FILE PHOTO: Patrick Cantlay of the U.S. hits off the 2nd tee during the second day of practice for the 2019 Masters golf tournament at the Augusta National Golf Club in Augusta, Georgia, U.S., April 9, 2019. REUTERS/Lucy Nicholson/File Photo

April 13, 2019

By Amy Tennery

AUGUSTA, Ga. (Reuters) – Webb Simpson and Patrick Cantlay grazed the Masters course record on Saturday, each posting an eight-under par 64 at Augusta National, just one stroke shy of the best-ever 63.

The two Americans both threatened to match the course record set by Nick Price in 1986 and equaled by Greg Norman a decade later.

Simpson shot up the leaderboard after covering the first two days in one-under par to put himself in an excellent position going into the final round at nine-under.

The 2012 U.S. Open champion stumbled on the sixth hole, committing a “sloppy” bogey, but he recovered spectacularly by logging seven birdies over the next dozen holes.

“I just kind of had a talk with myself going back to seven tee thinking about all my bad shots this week have been just some poor thinking and not being really committed to what I decided to do,” said Simpson.

“And I just said hey, if you stay fully committed the rest of the day, you’re swinging great, you’re putting well, you’re going to make birdies — and that’s what I did.”

Cantlay, who was languishing near the back of the pack at two-over after the first two days, roared back into contention to go into the final round at six-under par.

He recorded eight birdies and not a single bogey, by far his best Masters performance, having failed to make the cut in 2018 and finishing tied for 47th in 2017.

“I got out early and the ball was going the right distance, the wind wasn’t blowing too much, greens were soft, and the hole locations were much easier than the last few days,” said Cantlay.

“It was kind of the perfect storm for a good round.”

(Reporting By Amy Tennery; Editing by Ian Chadband)

Source: OANN

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World food prices steady in March: U.N. FAO

Milk cartons are displayed at an Asda supermarket in London
FILE PHOTO - Milk cartons are displayed at an Asda supermarket in London, August 17, 2015. REUTERS/Neil Hall

April 4, 2019

ROME (Reuters) – World food prices were broadly steady in March, with a jump in dairy prices offset by drops in cereal, vegetable oil and sugar price quotations, the United Nations food agency said on Thursday.

The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 167.0 points last month, down from 166.8 in February.

The index was 3.6 percent below its level of one year ago.

The FAO dairy price index jumped 6.2 percent from February’s value, driven by strong import demand for butter, whole milk powder and cheese. The meat price index rose 0.4 percent month-on-month.

By contrast, FAO’s vegetable oil price index fell 4.4 percent from the previous month, due partly to limited demand for palm oil, while its sugar index dropped 2.1 percent and its cereal index fell 2.2 percent on February.

FAO raised its latest world cereal production forecast for 2018 to 2.655 billion tonnes, against the 2.609 billion it forecast a month ago. The figure was still 1.8 percent down on a year-on-year basis.

The U.N. agency said the latest forecast contained sharply raised estimates for global cereal production, utilization and stocks following the release of new data from China for the period 2007-2017.

“FAO’s new estimate for global cereal stocks for crop years ending in 2019 has been scaled up by almost 11 percent to 849 million tonnes, mostly reflecting larger holdings in China,” the agency said in a statement.

The U.N. agency forecast for world wheat production in 2019 remained steady on 757 million tonnes, four percent above the 2018 level but short of the record high registered in 2017.

(Reporting by Crispian Balmer)

Source: OANN

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Man sues parents over his massive pornography collection

A Michigan man is suing his parents after they destroyed his extremely valuable porn collection, according to FOX 17.

In a lawsuit filed last week, the plaintiff who FOX 17 identifies as "Charlie" recently moved to Indiana after living with his parents in Michigan for 10 months. He had just gotten over a divorce, and was able to do work around his parents’ home in exchange for rent. A domestic situation forced him out in August 2017.

A few months later, his parents drove to his home in Indiana to give him some belongings he left in their home, only one thing was missing: his gargantuan porn collection that consisted of more than 12 moving boxes full of adult films.

PORN STAR-TURNED-PASTOR SAYS SHE WANTS 'EVERYONE TO EXPERIENCE THE LOVE OF GOD'

Charlie says his parents told him they destroyed his entire collection.

Upset, he called the Ottawa County Sheriff's Office, filing a police report that estimated the value of his collection at $28,940.72. The prosecutor's office decided against filing charges against his parents, but Charlie is still suing his parents for $86,822.16 in damages.

The collection was described by his parents in an email.

"We counted twelve moving boxes full of pornography plus two boxes of sex toys as you call them. We began that day the process of destroying them and it took quite a while to do so," his parents wrote.

A month after he filed the police report, Charlie scolded his father in an email. "If you had a problem with my belongings, you should have stated that at the time and I would have gone elsewhere. Instead you choose to keep quiet and behave vindictively," he said.

According to the lawsuit, his father said he destroyed them for Charlie's own good. "Believe it or not, one reason for why I destroyed your porn was for your own mental and emotional health, his father said. “I would have done the same if I had found a kilo of crack cocaine. Someday, I hope you will understand.”

According to his father, Charlie's addiction turned into a small porn business during his high school and college days

He was reportedly kicked out of high school and college for selling pornography to other students. His son was warned that if he ever found porn in his house again, he would destroy it.

Upset that no one wanted to take his case, the plaintiff reached out to investigators again, allegedly sending one officer 44 emails worth of porn movies he says were destroyed.

CHICAGO WOMAN ONCE ADDICTED TO PORN SAYS GOD HELPED CURE HER

Some, he says, are extremely valuable because those videos aren’t being distributed anymore.

"Not Just Out of Print," Charlie said about his valuable out-of-print films. "But the entire studio making it dissolved, and that was 20 years ago."

The prosecutor’s office decided against filing charges a second time.

FOX 17 reached out to the attorney representing the plaintiff, but they have no comment at the time.

Source: Fox News National

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At least 293 people dead in Mozambique after cyclone: U.N.

Survivors move to high ground at Peacock growth point in Chimanimani
Survivors move to high ground at Peacock growth point in Chimanimani, near the Mozambique border, Zimbabwe, March 22, 2019. REUTERS/Philimon Bulawayo

March 23, 2019

BEIRA (Reuters) – At least 293 people have died in Mozambique after a cyclone that led to catastrophic flooding, the United Nations Office for Coordination of Humanitarian Affairs (OCHA) said on Saturday.

“We’re going to have to wait until the flood waters recede until we know the full expanse of the toll on the people of Mozambique,” OCHA coordinator Sebastian Rhodes Stampa said.

(Reporting by Emma Rumney; Writing by Olivia Kumwenda-Mtambo; Editing by Alexander Smith)

Source: OANN

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Larry Kudlow to Newsmax TV: Fed May Lower Rates Further

The Federal Reserve Board might be considering cutting interest rates further, National Economic Council director Larry Kudlow told Newsmax TV.

During a sit-down at the White House with Newsmax CEO Chris Ruddy, Kudlow was asked about what's happening at the Federal Reserve on Constitution Avenue.

From the White House — Larry Kudlow, director of the National Economic Council, sits down with Newsmax CEO Chris Ruddy to discuss the state of our economy, Trump’s agenda, and threat of socialism. See Larry with Chris on Newsmax TV Thursday at 6PM & 9PM ET via Directv 349, Xfinity 1115, Dish 216, Uverse 1220, Fios 615, Spectrum (see channels), or More Info Here

Read Newsmax: Larry Kudlow to Newsmax TV: Stephen Moore Still a Candidate for Fed Post | Newsmax.com 
Urgent: Do you approve of Pres. Trump? Vote Here in Poll 

"I think the Fed is moving toward rate cuts," Kudlow said. "That is my view. It's true in the open market, the funds rate has traded a bit high, but I think they're moving toward rate cuts."

Fed chairman Jerome Powell raised the federal funds rate four times, by a quarter point each, in 2018, which President Donald Trump criticized for slowing down economic growth.

Last week, the 71-year-old Kudlow said it's even possible that the Fed won't raise rates again "in my lifetime."

The Fed acknowledged in March that it may not raise rates at all in 2019.

From the White House — Larry Kudlow, director of the National Economic Council, sits down with Newsmax CEO Chris Ruddy to discuss the state of our economy, Trump’s agenda, and threat of socialism. See Larry with Chris on Newsmax TV Thursday at 6PM & 9PM ET via Directv 349, Xfinity 1115, Dish 216, Uverse 1220, Fios 615, Spectrum (see channels), or More Info Here

Read Newsmax: Larry Kudlow to Newsmax TV: Stephen Moore Still a Candidate for Fed Post | Newsmax.com 
Urgent: Do you approve of Pres. Trump? Vote Here in Poll 

Source: NewsMax Politics

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Gymnastics: Whitlock rues no perfect 10, mulls scoring changes

2018 European Championships - Glasgow
2018 European Championships - Artistic Gymnastics, Men's Pommel Horse, Final - Glasgow, Britain - August 12, 2018 - Max Whitlock of Great Britain in action. REUTERS/Stefan Wermuth

March 23, 2019

By Martyn Herman

LONDON (Reuters) – Britain’s double Olympics gold-medal winning gymnast Max Whitlock believes the sport’s “confusing” scoring system could switch fans off and says new innovations should be considered.

Nadia Comaneci’s perfect 10 on the uneven bars at the 1976 Montreal Olympics is one of sport’s iconic moments, but these days medals are decided by D-scores (difficulty) and E-scores (execution) that run to three decimal places.

Recent dad Whitlock was taking a break from his usual routine this weekend at the Superstars of Gymnastics event at London’s O2 Arena where, along with American superstar Simone Biles, he was thrilling crowds with an exhibition.

He and Biles were also acting as X-factor-type judges, running the rule over routines performed by an international field of gymnasts, before awarding an old school mark out of 10.

Gymnasts, including Olympic horizontal bars champion Fabian Hambuchen, could use a “golden buzzer” option to maximize their scores on their favorite apparatus while they were free to experiment with new moves and routines.

Although it was not an official event, Whitlock, who with wife Leah celebrated the birth of daughter Willow this year, said it was a chance for gymnastics to engage with a wider audience and for the sport to try out new gimmicks.

“I think it’s very important that the sport can evolve,” the 26-year-old Whitlock, who became Britain’s first Olympic gold medalist in artistic gymnastics by winning floor and pommel in Rio, told Reuters.

“Gymnastics is very confusing and no one really knows what a 15.355 really means. It’s hard to keep up with. That takes away from the atmosphere and means the audience doesn’t really get involved in the competition.”

Whitlock got 15.633 from the judges in Rio for his floor routine and while it was a magical moment he regrets that the perfect 10 is not possible these days.

“Events like the Superstars of Gymnastics are so simple with the scoring out of 10,” he said. “It would have been great to get a perfect 10 in my career. It would be hard to go back to that system now, but there are ways it could be simplified.

“You look at football, swimming, athletics and it’s so clear who the winner is and I think gymnastics needs that a bit more.

“Everyone needs to brainstorm, get their heads together and think of ways we can simplify the sport and push it to the next level because I truly believe gymnastics has huge potential to grow.”

With Tokyo looming, Whitlock is working to stay ahead of the field.

“Last two years I’ve been adding in new skills on floor and pommel because ever since Rio I said I didn’t want to come back with the same routines,” he said. “I’m constantly upping my start score.

“I get a huge buzz from that. It keeps me on my toes and makes me work harder and motivated to stay at the level.”

(Reporting by Martyn Herman, editing by Ed Osmond)

Source: OANN

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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)

Source: OANN

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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)

Source: OANN

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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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