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Trump says will award Tiger Woods the Presidential Medal of Freedom

FILE PHOTO: Tiger woods celebrates after winning the 2019 Masters
FILE PHOTO: Golf - Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 14, 2019. Tiger Woods of the U.S. celebrates with with his green jacket after winning the 2019 Masters. REUTERS/Lucy Nicholson/File Photo

April 15, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Monday said he would award Tiger Woods the Presidential Medal of Freedom after the golfer won the Masters for the fifth time on Sunday.

“Spoke to @TigerWoods to congratulate him on the great victory he had in yesterday’s @TheMasters, & to inform him that because of his incredible Success & Comeback in Sports (Golf) and, more importantly, LIFE, I will be presenting him with the PRESIDENTIAL MEDAL OF FREEDOM,” Trump tweeted.

(Reporting by Susan Heavey; Editing by Chizu Nomiyama)

Source: OANN

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Exclusive: China regulator requests pause in new game applications to clear backlog – sources

FILE PHOTO: A man plays a computer game at an internet cafe in Beijing
FILE PHOTO: A man plays a computer game at an internet cafe in Beijing,China May 9, 2014. REUTERS/Kim Kyung-Hoon/File Photo

February 20, 2019

By Pei Li and Brenda Goh

BEIJING/SHANGHAI (Reuters) – China’s top content regulator has asked local authorities to stop submitting requests to monetize new video games while it processes a backlog of applications built up after a lengthy pause last year, three people with knowledge of the matter said.

The General Administration of Press and Publications (GAPP) issued the notice this week, the people said, indicating the impact on gaming stocks of the nine-month hiatus could continue and dulling hopes raised by the recent resumption of approvals.

The regulator’s notice has not previously been reported.

China stopped approving the monetization of new titles last March amid a regulatory body reshuffle triggered by growing criticism of games being violent and addictive, as well as concern over the increase in myopia among young people.

Gaming firms such as industry leader Tencent Holdings Ltd – China’s most valuable listed company – were able to continue filing applications, building up a backlog. They could also distribute new titles but were unable to earn any income from them, such as through in-game purchases.

The regulator resumed processing applications in December, with industry insiders estimating at least 5,000 games await approval. In China, game companies file applications to local authorities which in turn submit them to the regulator.

“The regulator asked local authorities to stop submitting applications because there is too much of a backlog for it to deal with at the moment,” said one of the people, whose company was informed about the matter by its local authority.

Game companies will still be able to file applications but they will no longer be passed on to the Beijing regulator while it deals with applications already in hand, said a second person.

The people declined to be identified as they were not authorized to speak with media on the matter.

GAPP and the Propaganda Department of the Communist Party of China, which oversees GAPP, did not immediately respond to requests for comment.

The approval freeze dragged down shares in Tencent and wiped billions of dollars off its market value. Among titles for which Tencent is awaiting a license to monetize is “PlayerUnknown’s Battlegrounds Mobile”, which industry insiders estimate could generate annual revenue of up to $1 billion.

The freeze has also hit many smaller companies that rely on a number of game releases each year.

The regulator approved 1,982 domestic and foreign online games during January-March last year before the freeze, government data showed. It approved 9,651 domestic and foreign online games in all of 2017.

It has approved 538 games since December.

(Reporting by Pei Li in BEIJING and Brenda Goh in SHANGHAI; Editing by Christopher Cushing)

Source: OANN

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Mother and daughter are charged in deaths of 5 relatives

Police found a Pennsylvania woman and her teenage daughter in an apartment with the bodies of five relatives they had killed, including three children, authorities said Tuesday.

Shana S. Decree, 45, and Dominique Decree, 19, were charged with five counts of homicide and one count each of conspiracy.

Shana Decree told police that "everyone at the apartment ... wanted to die" and talked about suicide, according to court documents. Decree claimed one of the victims, Jamilla Campbell, 42, killed two other victims before she herself was slain.

The bodies were found Monday inside an apartment in suburban Philadelphia after Bucks County child welfare officials showed up unannounced and got no response when they knocked on the door. A maintenance worker opened the door and found Shana Decree and Dominique Decree in a "disoriented" state, according to court documents.

Police arrived and found all five bodies in a bedroom. The apartment was in "disarray," according to Police Chief George McClay, with broken drywall and broken glass, overturned furniture, and other clutter.

Shana Decree was arraigned early Tuesday, while her daughter was expected to make her initial court appearance later in the day.

It wasn't clear whether either woman yet has a lawyer to speak for her.

The victims included Shana Decree's children Naa'Irah Smith, 25, and Damon Decree Jr., 13, both of Morrisville; as well as Shana Decree's sister Jamilla Campbell, of Trenton, New Jersey, and Campbell's 9-year-old twin daughters Imani and Erika Allen. Authorities did not reveal how they died.

Bucks County District Attorney Matthew Weintraub said that authorities were looking for Campbell's 17-year-old son Joshua. He stressed the teen is not a suspect, adding authorities just want to "ensure his safety."

"We wanted to come out here at this point and make sure that everybody knew that the people that committed these atrocious acts are now in custody and will be made to pay for their crimes," Weintraub said at the scene late Monday.

The bodies were found about 4 p.m. Monday after police went to check on the welfare of residents at the unit in the Robert Morris Apartments in Morrisville, along the border with New Jersey about 30 miles (50 kilometers) northeast of Philadelphia.

The three-story, red-brick complex is on a busy road lined with auto repair shops, a safe-and-lock shop and a bail bonds agency nearby.

___

This story has been corrected to show that Jamilla Campbell was 42, not 45.

Source: Fox News National

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New Jersey judge who told alleged rape victim to ‘close your legs’ faces 3-month suspension, ethics panel says

A New Jersey ethics committee recommended a three-month, unpaid suspension for the superior court judge who asked an alleged sexual assault victim if she could have closed her legs to prevent being raped.

The judicial panel submitted a 45-page recommendation to the New Jersey Supreme Court on Wednesday in the case of Superior Court Judge John Russo, affirming the judge violated ethical rules of conduct in 2016 when a woman appeared before him to ask for a restraining order against a man who allegedly sexually assaulted her.

After the woman described how the man forced her to have sex with him, a courtroom transcript included in the complaint revealed Russo asked: "Do you know how to stop somebody from having intercourse with you?"

NYPD INVESTIGATING SEXUAL ASSAULT CLAIMS AGAINST MAGICIAN DAVID BLAINE

When the woman responded that one way to prevent sexual contact is to run away, Russo continued, "Close your legs? Call the police? Did you do any of those things?"

The panel concluded Russo's conduct "was not only discourteous and inappropriate but also egregious given the potential for those questions to re-victimize the plaintiff," according to the recommendation filed Wednesday.

Russo’s behavior in the 2016 restraining order case exhibited "an emotional immaturity wholly unbefitting the judicial office and incompatible with the decorum expected of every jurist,” the ethics committee wrote.

Russo, a family court judge assigned to Ocean County, filed a response last month, claiming the questions in the complaint did not factually represent his handling of the case, NJ.com reported. Russo argued he was only trying to find out more information and was not trying to humiliate the woman.

Of the nine members on the panel, five vouched for a three-month suspension, while the remaining four recommended Russo be suspended for six months due to the “severity of this misconduct.” The state Supreme Court will conduct a final hearing on July 9.

"Judge Russo looks forward to a public hearing in which he will be able to respond to the allegations against him," Russo’s attorney David Corrigan told NBC New York. "We have respect for the process as well as the advisory committee on judicial conduct, and therefore won't comment further."

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The 45-page recommendation also detailed three other instances in which Russo violated ethical rules of conduct in the courtroom. One on occasion, Russo used his influence to rearrange the schedule of a personal family court case in Burlington County. On another, Russo called a mother to confirm she completed a court-ordered paternity test without the father present on the call.

Finally, the recommendation noted the superior court judge failed to recuse himself in an alimony case despite knowing the couple from high school. Russo reversed the ruling of another judge who issued a bench warrant for the man unless he paid $10,000 in spousal support. Russo ultimately ruled the man only had to pay $300 in alimony.

Russo has been on administrative leave since 2017 after his former law clerk accused him of sexual harassment and discrimination.

The Associated Press contributed to this report.

Source: Fox News National

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UK PM May says she will vote against a ‘no-deal’ Brexit

British PM May walks outside Downing Street in London
British Prime Minister Theresa May walks outside Downing Street in London, Britain March 13, 2019. REUTERS/Toby Melville

March 13, 2019

LONDON (Reuters) – British Prime Minister Theresa May said on Wednesday she wanted to leave the European Union with an agreement and she would be voting against a ‘no deal’ exit later in parliament.

Lawmakers will vote on a government motion later which states that parliament rejects leaving the EU without a deal on March 29, but notes that leaving without a deal remains the legal default unless a deal is agreed.

“I want to leave the European Union with a good deal, I believe we have a good deal,” she told parliament. “I will be voting for the motion standing in my name.”

(Reporting by Elizabeth Piper and Kylie MacLellan; editing by Guy Faulconbridge)

Source: OANN

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Deputy killer was half-brother of man who shot Oregon chief

A gunman who authorities say shot and killed a sheriff's deputy in rural Washington state was the half-brother of a man who killed an Oregon police chief eight years ago.

Brian Butts, 33, was shot to death Sunday by law enforcement officers as he emerged wet and dirty from woods following a manhunt. Investigators say Butts killed Cowlitz County Deputy Justin DeRosier on Saturday night.

Butts was the half-brother of Daniel Butts, 29, who pleaded guilty last month to killing Police Chief Ralph Painter in 2011 in Rainier, Oregon, just across the Columbia River from Cowlitz County, The Oregonian/OregonLive reported .

Daniel Butts is serving a life sentence with parole possible after 49 years. He grabbed Painter's sidearm and shot him in the head during a struggle at a car stereo shop.

Daniel Butts' father, Mikel Butts, confirmed the relationship, the news outlet said. He said Daniel and Brian had the same mother. Mikel Butts said he hadn't seen Brian Butts in years.

DeRosier, 29, had been a Cowlitz County deputy since 2009 and was the married father of a 5-month-old daughter. He responded alone Saturday night to a motorhome blocking a road near the tiny southwestern Washington city of Kalama and reported over police radio that someone was shooting at him.

Matthew Veatch, 25, an acquaintance of Brian Butts, was arrested after the shooting for investigation of helping Butts escape. He told investigators he heard a gunshot from his home and that Butts showed up there minutes later, The Daily News of Longview reported , citing a police statement filed in court in support of Veatch's arrest.

Butts "appeared dirty and stated he needed to get out of there," and he gave Veatch a handgun to "get rid of," the statement said. Veatch put the gun in a locked gun cabinet in his room, he told officers, and he led Butts on foot through the dark woods for several hours until they reached an abandoned barn, where they separated.

Along the way, Butts told Veatch he shot an officer, the document said.

The deputy died during surgery at a hospital in Vancouver, across the Columbia River from Portland, Oregon. Veatch is being held on $50,000 bail and is scheduled to be arraigned April 30.

Brian Butts served five years in prison beginning in September 2012 for drug-related convictions, the Washington State Department of Corrections said. He was then on a year of post-prison supervision, ending in October.

Butts also had convictions for assault, burglary and marijuana possession, the Oregonian/OregonLive reported.

An autopsy for was set for Butts Tuesday night. Investigators said he was armed as he emerged from the woods, but they didn't know yet if he shot at officers during the manhunt.

Source: Fox News National

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WaPo Reporter: Omar Keeps ‘Falling Into These Traps’ With ‘Slips of the Tongue’

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Source: InfoWars

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

April 26, 2019

By Hanna Rantala

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

April 26, 2019

By Joshua Schneyer and M.B. Pell

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

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

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

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

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

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

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

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

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

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

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

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

(Editing by Ronnie Greene)

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)

Source: OANN

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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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