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Shell CEO’s pay more than doubles to $22.8 million in 2018

FILE PHOTO: CEO of Royal Dutch Shell van Beurden meets with Russian President Putin in Moscow
FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell company, speaks during a meeting with Russian President Vladimir Putin in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin/File Photo

March 14, 2019

LONDON (Reuters) – Royal Dutch Shell Chief Executive Ben van Beurden saw his pay package more than double to 20.1 million euros ($22.8 million) in 2018, mainly thanks to a bonus and an incentive plan for delivering on targets, the oil company said on Thursday.

It was the second highest pay on record for van Beurden since he became CEO in 2014 and received 24.2 million euros that year – mainly because of changes in pension payments and tax calculations as a result of his promotion.

As the oil prices plunged, his pay fell to 5.6 million euros in 2015, before recovering to 8.6 million in 2016 and 8.9 million in 2017.

Shell said van Beurden’s role was critical in successfully integrating rival BG, delivering on a $30 billion divestment plan and “leading the sector in framing a methodology for aligning with the Paris (climate change) agreement”.

“We reviewed Shell’s CEO pay ratio externally against the ratios that we see in other FTSE 30 companies, which we calculated based on their disclosed employee numbers and employee costs,” Shell’s remuneration committee said.

“We believe our ratio is consistent with those seen in other FTSE 30 companies, although it is challenging to draw a meaningful comparison given the different markets and industries in which they operate,” it added.

Shell said its remuneration committee would include a new performance condition linked to the transition to lower-carbon energy for the long-term incentive plan grant starting in 2019, one year earlier than planned.

(Reporting by Dmitry Zhdannikov; Editing by Mark Potter)

Source: OANN

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Zimbabwe opposition politician fined over false election results

FILE PHOTO - Zimbabwe's former finance minister and opposition leader Tendai Biti looks on after appearing at the Magistrate Court in the capital Harare
FILE PHOTO - Zimbabwe's former finance minister and opposition leader Tendai Biti looks on after appearing at the Magistrate Court in the capital Harare, Zimbabwe August 10, 2018. REUTERS/Philimon Bulawayo

February 18, 2019

HARARE (Reuters) – Zimbabwe’s former finance minister and senior opposition politician Tendai Biti was on Monday convicted and fined $200 for unlawfully and falsely announcing the results of last year’s presidential election that was won by Emmerson Mnangagwa.

Biti, vice chairman of the main opposition Movement for Democratic Change (MDC) party, was charged last year after announcing that MDC leader Nelson Chamisa had won the presidential election. Biti was later deported by Zambian authorities after a failed asylum bid.

The MDC and Chamisa continue to dispute Mnangagwa’s victory, which was also upheld by the country’s top court, and say Zimbabwe’s political and economic problems will not be fixed until the president’s legitimacy is resolved.

Magistrate Gloria Takundwa said state prosecutors had proved the case against Biti, whom she said would be jailed for six months if he commits a similar offence in the next five years.

Biti’s lawyer Alec Muchadema, who paid the $200 fine, said he would appeal against the conviction and sentence.

“I am absolutely innocent and we will be appealing that decision. It’s unacceptable what is happening, we will keep on fighting,” Biti told reporters outside the courthouse.

Chamisa said Biti was being persecuted for telling the truth and that the former finance minister was one of many MDC leaders being targeted by Mnangagwa’s government in a bid to cripple the opposition. The government has denied the charge.

(Reporting by MacDonald Dzirutwe, editing by Ed Osmond)

Source: OANN

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Revolutionary Camera Allows Scientists to Predict Evolution of Stars

For the first time scientists have been able to prove a decades-old theory on stars thanks to a revolutionary high-speed camera.

Scientists at the University of Sheffield have been working with HiPERCAM, a high-speed, multicolor camera, which is capable of taking more than 1,000 images per second, allowing experts to measure both the mass and the radius of a cool subdwarf star for the first time.

The findings published today (8 April 2019) in Nature Astronomy have allowed researchers to verify the commonly used stellar structure model — which describes the internal structure of a star in detail — and make detailed predictions about the brightness, the color and its future evolution.

Scientists know that old stars have fewer metals than young stars, but the effects of this on the structure of stars was, until now, untested. Old stars (often referred to as cool subdwarf stars) are faint and there are few in the solar neighborhood.


Paul Joseph Watson asks why scaremongers should continue to be believed.

Up until now scientists have not had a camera powerful enough to be able to get precise measurements of their stellar parameters such as the mass and the radius.

HiPERCAM can take one picture every millisecond as opposed to a normal camera on a large telescope which usually captures only one picture every few minutes. This has given scientists the ability to measure the star accurately for the first time.

Professor Vik Dhillon, Dr Steven Parsons and Dr Stuart Littlefair, from the Department of Physics and Astronomy at the University of Sheffield, led the HiPERCAM project in partnership with the Science and Technology Facilities Council’s Astronomy Technology Centre (ATC) and the Instituto de Astrofisica de Canarias, along with researchers from the University of Warwick and Durham University.

Professor Dhillon said: “Now we have been able to measure the size of the star we can see it is in line with stellar structure theory. These results would not have been possible with any other telescope.

“This not only proves stellar structure theory, but has also verified the potential of HiPERCAM.”

The paper is the first to be published using HiPERCAM data, which is mounted on the Gran Telescopio Canarias (GTC) — the world’s largest optical telescope, with a 10.4-meter mirror diameter.

(Photo by NASA)

The camera can take high-speed images of objects in the universe, allowing their rapid brightness variations — due to phenomena such as eclipses and explosions — to be studied in unprecedented detail.

Data captured by the camera, taken in five different colors simultaneously, allow scientists to study the remnants of dead stars such as white dwarfs, neutron stars and black holes.

The GTC is based on the island of La Palma, situated 2,500 meters above sea level, which is one of the best places in the world to study the night sky.

The study marks the first results of a pioneering five-year project funded by a 3.5 million Euro grant from the European Research Council (ERC).


Alex Jones discusses the possible future where all transportation is automated.

Source: InfoWars

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Trump says Dems have forsaken Mueller after treating him as ‘God-like’

President Trump blasted Democrats on Tuesday for shifting focus to a slew of other investigations into his administration now that the special counsel probe is over, saying the same lawmakers who treated Robert Mueller as “God-like” no longer “acknowledge his name.”

“Robert Mueller was a God-like figure to the Democrats, until he ruled No Collusion in the long awaited $30,000,000 Mueller Report. Now the Dems don’t even acknowledge his name, have become totally unhinged, and would like to go through the whole process again. It won’t happen!” Trump tweeted Tuesday morning.

HOUSE DEMS PREPARE FOR SUBPOENA BATTLE OVER MUELLER REPORT

Despite the president's comments, Democrats are still focused in part on the Mueller investigation -- namely, on getting access to the full report. Attorney General Bill Barr has said that he and the special counsel’s team are “well along in the process of identifying and redacting” sensitive material in the more than 300-page report and can likely have it to Congress by mid-April, “if not sooner.” But Democrats on the House Judiciary Committee are preparing to authorize subpoenas for the report this week, giving the panel the option to pursue that route if necessary.

At the same time, congressional Democrats are escalating their own probes.

The president on Tuesday also blasted two of those lawmakers -- House Judiciary Committee Chairman Jerrold Nadler, D-N.Y., and House Intelligence Committee Chairman Adam Schiff, D-N.Y., while giving the latter a Trump-esque nickname.

“There is no amount of testimony or document production that can satisfy Jerry Nadler or Shifty Adam Schiff. It is now time to focus exclusively on properly running our great Country!” Trump tweeted.

Minutes later, Schiff fired back.

“The House voted 420-0 to release the full Mueller report to the public. The American people overwhelmingly support the same. What are you afraid of, Mr. President?” Schiff tweeted.

House Speaker Nancy Pelosi, D-Calif., has also been vocal on calling for a full version of the Mueller report.

“The American people deserve and want the truth. Overwhelmingly you see that—whatever the truth—let the chips fall where they may—let’s show us the truth,” Pelosi said during a panel interview with Politico Tuesday. “There’s no reason why they couldn’t put some of this out…I know sources and methods, but that’s no excuse for hiding the truth from the American people.”

She added: “There will be a release of the Mueller report. “

The report was first transmitted to Barr at the Justice Department last month. Barr issued a four-page initial summary of Mueller’s findings to Congress and to the public just days after. Barr’s summary said that the special counsel found no evidence of collusion between members of the Trump campaign and the Russians during the 2016 presidential election.

Immediately, Democrats began demanding to view the full Mueller report and underlying evidence that brought the special counsel to its decision.

BARR TO RELEASE MUELLER REPORT TO CONGRESS BY 'MID-APRIL, IF NOT SOONER;' WILL NOT TRANSMIT TO WHITE HOUSE FOR PRIVILEGE REVIEW

Barr has indicated he does plan on sharing much of the report itself, noting that, with the help of the special counsel’s office, the Justice Department is reviewing material that “by law cannot be made public” -- covering “material the intelligence community identifies as potentially compromising sensitive sources and methods; material that could affect ongoing matters, including those that the Special Counsel has referred to other Department offices; and information that would unduly infringe on the personal privacy and reputational interests of peripheral third parties.”

Barr added that: “Although the President would have the right to assert privilege over certain parts of the report, he has stated publicly that he intends to defer to me and, accordingly, there are no plans to submit the report to the White House for privilege review."

DEMS WHO FUMED AT NUNES FOR JEOPARDIZING 'SOURCES AND METHODS' NOW DEMAND MUELLER REPORT IN FULL

The special counsel also reviewed whether the president had obstructed justice in any way, but ultimately did not come to a conclusion on that issue. Barr and Deputy Attorney General Rod Rosenstein, though, said the evidence was “not sufficient to establish that the President committed an obstruction-of-justice offense.”

Nadler’s committee, meanwhile, sent document requests to 81 individuals and entities associated with the president last month as part of his investigation into “alleged obstruction of justice, public corruption, and other abuses of power by President Trump."

Schiff’s panel is also investigating the president’s foreign business dealings and Russian election meddling, maintaining that there is evidence of collusion, despite Mueller’s findings.

The House Financial Serves Committee, led by Rep. Maxine Waters, D-Calif., is also probing the president, coordinating with Schiff’s committee on money-laundering inquiries. The House Foreign Affairs Committee, chaired by Rep. Eliot Engel, D-N.Y., is also involved.

Source: Fox News Politics

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Thousands attend New Zealand vigil to honor 50 mosque dead

Thousands of people have gathered in the New Zealand city of Christchurch to listen to prayers, songs and speeches at a vigil to remember the 50 people killed in a terrorist attack on two mosques.

One of those watching from a wheelchair was 21-year-old Mustafa Boztas, who was shot in the leg and liver during the March 15 attack at the Al Noor mosque.

Boztas says it was beautiful to see what the community had put together to show they care and that "we are all one."

Officials estimate up to 40,000 people attended the event on a sunny Sunday evening at Hagley Park. It was held on a stage that had been set up for a concert by Canadian singer Bryan Adams that was cancelled after the attacks.

Source: Fox News World

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Afghanistan feels impact of Iran’s economic isolation

FILE PHOTO: Group of Afghan migrants walk along a main road after crossing the Turkey-Iran border near Dogubayazit
FILE PHOTO: A group of Afghan migrants walk along a main road after crossing the Turkey-Iran border near Dogubayazit, Agri province, eastern Turkey, April 11, 2018. Afghans who previously found jobs in Iran are also returning to Afghanistan in large numbers due to Iran's sharp economic downturn. REUTERS/Umit Bektas/File Photo

April 25, 2019

By Babak Dehghanpisheh and Hamid Shalizi

GENEVA/KABUL (Reuters) – Abdul Saboor escaped poverty and instability in Afghanistan three years ago with his wife and three children and found work in neighboring Iran. Now he has returned home, despite the fact that life there has not improved.

His job at a grocery store in the central Iranian city of Isfahan brought in about 280 dollars a month, enough to support his family. But the Iranian rial took a dive last year and his employer cut his wages to less than 100 dollars a month.

“The economic situation in Iran is really bad,” said the 28-year-old. “Wages have gone down since last year and a lot of families had to return to Afghanistan.”

Afghans began moving to Iran in large numbers after the Soviet invasion in 1979 and they continued to migrate for work through decades of conflict, sending money to relatives back home that helped bolster Afghanistan’s struggling economy.

In 2017, there were approximately 2.5 million to 3 million Afghans in Iran, according to Iranian government estimates cited by the United Nations.

That number could be cut in half by the end of this year. More than 770,000 Afghans left Iran last year as the currency faltered and an extra 570,000 are expected to go this year, the International Organization for Migration (IOM) said in January.

Iran’s economy has been squeezed since President Donald Trump reimposed sanctions on Iran last year after pulling out of a 2015 nuclear deal between Tehran and world powers.

U.S. officials have said the sanctions are intended to pressure Iran to negotiate over what they say are its aggressive missile program and regional policy; critics say they hurt ordinary people and entrench hardline rulers.

The rial lost approximately 70 percent of its value last year before recovering slightly, disrupting Iran’s foreign trade and helping boost annual inflation fourfold to nearly 40 percent in November. Currency fluctuations and the unstable economy have led to sporadic street protests since late 2017.

An IOM report in January noted that a big jump in the number of Afghans returning from Iran last year was “largely driven by recent political and economic issues in Iran including massive currency devaluation”.

Afghans typically took harsh, labor-intensive jobs in Iran and their departure will mean higher production costs, said Saeed Leylaz, a Tehran-based economist and political analyst.

UNDER PRESSURE

Over the past year, many Afghans in Iran have sought advice about returning from the office of Grand Ayatollah Mohaghegh Kabuli – a senior Afghan religious leader based in the holy city of Qom, according to an administrator in the office who asked not to be identified because of the sensitivity of the subject.

“With the crash of the value of the rial, staying in Iran has become very difficult for Afghan migrants,” he said. “They are under pressure.”

Naim, 18, followed the path of two of his older brothers and came to Iran from Afghanistan when he was only ten years old but quickly managed to find work in construction in Tehran.

The work was backbreaking and his family faced hardship: one brother lost four fingers in a construction accident in Tehran.

But he persevered, because he could make more money than at home, and eventually got a job as a doorman at a multi-story apartment complex in Tehran.

Last year, as the economic situation in Iran began to deteriorate, one of his older brothers decided he could no longer support his wife and six children and moved back to Herat in western Afghanistan.

“My brother’s wife and children were hungry and this currency has no value so they went back,” Naim said.

His brother started working in agriculture and has been able to open a small shop in Herat with his earnings. He is now pushing Naim to come home from Iran, a trip that he and approximately 150 friends and extended family are planning to take in two months.

“We work and we work and for what?” Naim said. “We have to go back.”

He could face an uncertain future once he returns.

“The economic opportunities in Afghanistan are no longer there. It’s not like there’s a lack of opportunities in Iran and new opportunities in Afghanistan,” said Sarah Craggs, IOM’s senior program coordinator for Afghanistan, who is based in Kabul. “There are no opportunities in either country really.”

Afghans have long sought better lives in other countries and a lack of jobs in Iran could also boost numbers trying to head further west to Europe.

The latest drop in remittances from Iran is already having an impact on the economies of the Afghan provinces of Herat, Badghis and Ghor, an IOM report said in January.

Abdul Saboor now earns about 130 dollars a month working at a restaurant in Herat.

“Life was much better in Iran but since the financial crisis, it was difficult to survive so we had to come back despite all the hardship here,” he said. “I was the lucky one and found a job while thousands of others are jobless.”

(Reporting by Babak Dehghanpisheh in Geneva and Hamid Shalizi in Kabul; additional reporting by Storay Karimi in Herat; editing by Philippa Fletcher)

Source: OANN

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Police arrest man accused in machete deaths of wife, child

Law enforcement authorities have captured a man they say used a machete to kill his wife and daughter.

Miami Gardens Police Chief Delma Noel-Pratt said a fire rescue crew spotted 57-year-old Noel Chambers Tuesday night and called police, who took him into custody.

Police had searched for Chambers since Saturday when they found the bodies of 48-year-old Lorrice Harris and 10-year-old Shayla. Another daughter, 29-year-old Shanalee Chambers, was critically injured.

The Miami Herald reports that Harris' family spoke to the media on Monday to help police find Chambers. Daughter Ashley Anderson called her father a "monster."

Ernie Saunders said his sister had asked for a divorce before she was killed.

Chambers is charged with two counts of first-degree murder. A lawyer wasn't listed on jail records.

Source: Fox News National

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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)

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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)

Source: OANN

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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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