MHA sanctions Delhi Minister’s prosecution

first_imgThe Ministry of Home Affairs has granted sanction to the CBI to prosecute Delhi Health Minister Satyendar Jain for allegedly acquiring assets disproportionate to his known sources of income, a government official said on Thursday. The case was registered last year. “The AAP government’s efforts to regularise unauthorised colonies are linked with the investment in agricultural land by Mr. Jain. Regularisation will convert these agricultural lands into residential and commercial land, which would provide huge returns on the investment by Mr. Jain,” the official claimed. Shell companiesThe official said that Mr. Jain floated and acquired several shell companies in Delhi, including Akichan Developers Private Limited, Indo Metal Impex Private Limited, Paryas Infosolutions Private Limited and Manglayatan Projects Private Limited, in 2009-10 and 2010-11. “Mr. Jain laundered black money amounting to ₹16.39 crore from 2010 to 2015 through 54 shell companies of three hawala entry operators of Kolkata,” the official said. Over 200 bighas of agricultural land were purchased in the names of companies controlled by Mr. Jain in the vicinity of unauthorised colonies at Karala, Auchandi, Nizampur, Budhan, and other areas of Delhi in the past five years, the officer said.“On being prosecuted by the Income Tax Department, Mr. Jain surrendered ₹16.39 crore which was laundered using shell companies under Income Declaration Scheme, 2016 in the name of [his alleged associates] Vaibhav Jain and Ankush Jain. On enquiry, it was found that both of them were in no way connected with the shell companies floated or acquired by Mr. Jain,” the official said.Reacting to the Centre’s nod, the AAP alleged that Mr. Jain was being hounded for trying to legalise unauthorised colonies.last_img read more

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Gehlot presents budget, vote-on-account estimates

first_imgRajasthan Chief Minister Ashok Gehlot on Wednesday presented the vote-on-account of ₹86,906 crore in the State Assembly in view of the upcoming Lok Sabha elections and submitted the budget estimates for 2019-20 with a total expenditure of ₹2,31,654 crore and revenue receipts of ₹1,67,449 crore.Mr. Gehlot, who also holds the Finance portfolio, said since the budget for the next financial year could not be passed before March 31 because of the Lok Sabha elections, the vote-on-account would facilitate expenditures during the first four months. The expenditure heads include elections, drinking water, relief from natural disasters and cooperatives.Mr. Gehlot said the revenue expenditure during 2019-20 would be ₹1,90,753 crore and revenue deficit ₹23,3024 crore. The fiscal deficit as percentage of the Gross State Domestic Product in 2019-20 is likely to be 3 and the debt to GSDP ratio is expected to be 33.96.Mr. Gehlot said the “flawed policies and short-sighted approach” of the previous BJP government had pushed the State behind on various economic parameters. “Even in the realm of social security pensions, the previous regime’s actions were guided by political considerations,” he said, adding that the State had been derailed from the path of progress during the last five years.Debts and liabilitiesThe Chief Minister said the total debt on the State in 2013-14, when the Congress was voted out of power, was ₹1,29,910 crore. As per the revised estimates for 2018-19, the debts and liabilities were estimated to increase by 138%, touching ₹3,09,385 crore.Mr. Gehlot threw light on various decisions taken by his government after coming to power, while pointing out that the farmers’ loans had been waived, bonus of ₹2 per litre paid to milk producers supplying milk to cooperative dairy federations, old age pension increased and wheat and rice supplied at ₹1 and ₹2 per kg respectively to the below poverty line and Antyodaya families.last_img read more

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India Hikes Rates

first_imgIndia’s Reserve Bank has hiked its benchmark repo rates by a quarter of a percentage point to tamp down inflation.The bank raised the rate for short-term loans to commercial banks to 5 percent, signaling that it believes that the country’s economic growth is consolidating and that it needs to turn to dealing with inflation. The country’s Wholesale Price Index rose 9.9 percent in February and may top 10 percent in March. The bank had moved aggressively at the height of the global financial crisis in September 2008 by cutting the repo rate from 9 percent to 4.75 percent.  Related Itemslast_img read more

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Visayan fans stunned by Pacquiao loss to Horn

first_imgMOST READ LATEST STORIES Don’t miss out on the latest news and information. Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Rushton’s 10-point plan bears fruit “Walay lami kay pildi si Pacman,” he said.(“I’m disheartened because Pacquiao lost.”)Alagadmo was all for a rematch.“Mas nice kung magrematch sila para maila kung kinday hawud sa ring,” he said.(“It would be nice if they would have a rematch so we would know who is really better in the ring.”)Rhudy Mendoza, 38, said, however, said he wouldn’t want to see a rematch.“Absolutely, I prefer Pacman-Mayweather,” he said. “That fight will be exciting than this.”Rain failed to dampen the enthusiasm of Boholano fans watching the bout.At least 100 residents in this city flocked to the corner of Maria Clara Street and CPG Avenue to watch the fight for free.Electronics shops like Geresonic and Diccion provided small TV screens for a live airing of the fight. Another vape smoker nabbed in Lucena LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera Fans react to Manny Pacquiao’s upset loss to Jeff Horn1.4K viewsSportsVentuno Web Player 4.51 Pagasa: Kammuri now a typhoon, may enter PAR by weekend Other spectators at the same venue were so shocked that they stood still for a moment after the match.“This is a nightmare for us Pacquiao fans,” Lemuel Mortes said.Despite of the stunning loss, they said they would remain Pacquiao fans.Mortes said, however, that would be up to the boxer and senator if he would finally hang up his gloves after his defeat.In Tagbilaran City in Bohol, Lito Alagadmo, 40, said he was frustrated that at the end of 12 rounds, Horn was declared the new WBO welterweight world champion.ADVERTISEMENTcenter_img China furious as Trump signs bills in support of Hong Kong Some called for a rematch.Michael Esteban, 34, a cook, could not believe that Pacquiao lost the match in a unanimous decision by the three judges.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool stars“As an avid fan of Manny, I could not really believe that he lost to Horn,” Esteban said. “I really thought that he would win the fight.”Esteban, who watched the bout via a live telecast at the canteen where he works, said he had expected Pacquiao to win because the Filipino boxing champion had more experienced and was better “several times over” Horn. Cayetano to unmask people behind ‘smear campaign’ vs him, SEA Games Pacquaio supporters loudly cheered when the Filipino boxer appeared to have the upperhand, especially in the ninth and later rounds.But there was a silence when the winner was announced.In , the crowds that gathered at public venues had expected Pacquiao to defeat Horn. They were also hugely disappointed.At the Bacolod Arts and Youth Center in Bacolod City, Negros Occidental, a crowd of about 5,000 had expected Pacquiao to be announced the winner. Hearing that Horn was the winner, the crowd quickly dispersed.Bacolod Mayor Evelio Leonardia, a close friend of Pacquiao, said: “I cannot believe Manny lost. I cannot understand why it was a unanimous decision. It was a close fight, which we thought was not supposed to be the case, but I still maintain that Manny won it.”“We must salute Manny for his humility when he said: ‘He deserves it’,” he said.“It was a close fight but I had Pacquiao ahead especially after last closing rounds,” Negros Occidental Rep. Alfredo Benitez, said.Manuel Lamata, president of the United Sugar Producers’ Federation of the Philippines Inc., said: “I feel terribly bad.” /atm Lacson: SEA Games fund put in foundation like ‘Napoles case’ TACLOBAN CITY — Stunned, shocked, frustrated.This was how Visayan fans reacted to the upset loss of Filipino boxing icon Manny Pacquiao to Australian boxer Jeff Horn.ADVERTISEMENT Sports Related Videospowered by AdSparcRead Next What ‘missteps’? There was a heavy downpour during the fourth round. Alagadmo and other fans looked for cover. Some fans, however, prefered to get soaked rather than to miss every single detail of the fight.The rain lasted for about 10 minutes. When it stopped, fans flocked to the area again.The Bohol Police Provincial Office (BPPO) recorded a zero crime rate from 9 a.m. to 1 p.m. during the fight.According to Senior Supt. Felipe Natividad, BPPO director, the police stations in Bohol had not received any reported incident in the last four hours while the fight was ongoing.In Iloilo City, boxing fans were also unconvinced that Horn defeated Pacquiao.“At the very least, it should have been a close score but not a unanimous decision and a wide margin (in favor of Horn),” Rommel Espinal said.Jossie Cillador, a resident of Pavia town in Iloilo, lamented that the match was bloody.“He [Horn] fought dirty because he kept on locking Pacquiao’s neck with his arm,” she said.She said the Filipino boxing champion should have knocked out Horn in the ninth round when the Australian boxer appeared wobbling “so that there would be no doubt who won the match.”Manny Pacquiao of the Philippines (left) clinches with Jeff Horn of Australia during their WBO World Welterweight title fight in Brisbane, Australia, Sunday, July 2, 2017. Pacquiao lost his WBO welterweight world title to Jeff Horn in a stunning, unanimous points decision in a Sunday afternoon bout billed as the Battle of Brisbane in front of more than 50,000 people. (Photo by TERTIUS PICKARD / AP)Many Ilonggos were glued to their television sets in homes and in restaurants which offered buffet lunch packages for guests who watched the match. View commentslast_img read more

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SPORT-OLY-IND-SUMMARY 3 LAST

first_imgHOCKEY: HOCKEY: # Men: Lost to Belgium in the quarterfinals. # Women: Failed to qualify for the quarterfinals after drawing one and losing four of their league games. BOXING: # Vikas Krishan lost in the quarterfinals of 75kg. # Manoj Kumar lost in the pre-quarterfinals of 64kg. # Shiva Thapa lost in the opening round of 56kg. ARCHERY: # Womens team: Indian team lost in the quarterfinals. # Womens Individual: Deepika Kumari and Bombayla Devi lost in the pre-quarterfinals, while Laxmirani Majhi lost in the Round of 64. # Mens Individual: Atanu Das lost in the pre-quarterfinals. GOLF: # Men: SSP Chawrasia finished tied 50th and Anirban Lahiri tied 57th. # Women: Aditi Ashok finished 41st. WEIGHTLIFTING: # Sathish Sivalingam finished 11th in mens 77kg. # Saikhom Mirabai Chanu failed to complete her event in 48kg category after failing to lift the weight in all her three attempts in clean & jerk. TABLE TENNIS: # All four players — Sharath Kamal, Soumyajit Ghosh, Mouma Das and Manika Batra — lost in first round. ROWING: # Mens Single Sculls: Dattu Baban Bhokanal finished 13th. SWIMMING: # Womens 200m Freestyle: Shivani Kataria finished 28th. # Mens 200m Butterfly (Heats): Sajan Prakash finished 41st among 43. JUDO # Avtar Singh lost in the opening round. PTI APA BS CM CMlast_img read more

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Tsitsipas Becomes the First Greek Player to Reach the Fourth Round of Roland-Garros

first_imgPARIS – Stefanos Tsitsipas overcame a “psychological” challenge and lethargic legs to become the first Greek player — man or woman — to reach the fourth round of the French Open in more than 80 years.The sixth-seeded Tsitsipas saved a set point in the fourth-set tiebreaker of a 7-5, 6-3, 6-7 (5), 7-6 (6) win over 60th-ranked Filip Krajinovic that lasted two days.Greece’s Stefanos Tsitsipas plays a shot against Serbia’s Filip Krajinovic during their third round match of the French Open tennis tournament at the Roland Garros stadium in Paris, Saturday, June 1, 2019. (AP Photo/Christophe Ena )TweetPinShare168168 Shareslast_img read more

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Australia opt for mix of old heads and inexperience in first Tests since scandal

first_imgPakistan cricket team Share on Messenger Read more Doggett made his first-class debut last October and has taken 31 wickets in eight first-class games.“Brendan is an exciting prospect, a fast bowler with raw pace and wicket-taking ability,” chairman of selectors Trevor Hohns said. “He provides an additional option to Mitchell Starc if extra pace is called for and this is an ideal opportunity to get him involved in a national set-up.”Finch appears the frontrunner for an opening batting spot in the absence of Warner and Bancroft, with Matthew Renshaw also favoured for the top-order role.“Aaron is in sensational form and this is the right time to give him a chance to play Test cricket,” Hohns said. “He has performed well in the Sheffield Shield in recent seasons and brings added experience and leadership to this group.”South Australian captain Head and Queensland batsman Labuschagne have pressed their claims with run-scoring on the current Australia A tour of India. And Hohns said South African-born Neser, a bowling allrounder, had also impressed on the Australia A tour.Stalwart Siddle’s last Test was in November 2016 and he’d recently been among the wickets in English county cricket.“His experience will be crucial for this bowling group, and we know that he is a warrior who can bowl the type of long, tight spells which may be required in the conditions we expect to face,” Hohns said.The series against Pakistan, starting in Dubai on 7 October with the second Test in Abu Dhabi from 16 October.“There has been significant change to our Test squad due to the unavailability of a number of key players,” Hohns said. “That said, we firmly believe the squad selected is up to the challenge ahead and is capable of playing a brand of cricket that can perform well.”Australia: Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle Share on Twitter Share on Pinterest Share via Email Share on WhatsApp Australia sport Alastair Cook says ‘dreams come true’ after 33rd and final Test centurycenter_img Share on Facebook news Cricket Share on LinkedIn Australia cricket team Reuse this content Batsmen Aaron Finch and Travis Head and paceman Brendan Doggett are among five uncapped Test players included in Australia’s squad for a two-match series against Pakistan.Doggett, a 24-year-old Queenslander who made his first-class debut less than a year ago, Finch and Head are joined by Marnus Labuschagne and Michael Neser in the squad.Veteran paceman Peter Siddle has been recalled and spinners Ashton Agar and Jon Holland are also in the 15-man squad announced on Tuesday. The squad is without banned batsmen Steve Smith, David Warner and Cameron Bancroft, and injured fast bowlers Josh Hazlewood and Pat Cummins. Topicslast_img read more

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Sports Illustrated Names The Best Mascot In College Football

first_img Georgia’s line of pure white English bulldogs, now on No. 10, has been a staple of the mascot landscape since 1956. Though every new dog is added to the “Uga” line—Uga X is the latest—each also has its own unique name, is given a custom-made jersey and a varsity letter, and resides in an air-conditioned on-field doghouse. When his day comes, each Uga is buried in a marble vault alongside his fallen predecessors outside the football stadium.It’s hard to argue with that. Who doesn’t like dogs?Georgia is set to open the 2019 season on Aug. 31 at Vanderbilt. Kickoff is set for 7:30 p.m. E.T. Georgia Bulldogs cheerleaders performing during a game.ATLANTA, GA – DECEMBER 02: Georgia Bulldogs cheerleaders on the field prior to the game against the Auburn Tigers in the SEC Championship at Mercedes-Benz Stadium on December 2, 2017 in Atlanta, Georgia. (Photo by Kevin C. Cox/Getty Images)A lot of different sports have mascots, but no one seems to do them better than college football, which features everything from a live bulldog to a person in a tree costume.Which mascot is best?Sports Illustrated attempted to answer that question, ranking the best mascots in college football heading into the 2019 season.Georgia’s “Uga” bulldog came in at No. 1.last_img read more

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Old Fashioned Christmas Returns to Sherbrooke

first_imgOld Fashioned Christmas will return to Sherbrooke in December thanks to support from the St. Mary’s Lions Club, Nova Scotia Power and community volunteers. There will be a craft sale on Saturday, Nov. 22, a dinner theatre on Saturday, Nov. 29, a variety concert on Sunday, Nov. 30 and an adult dance featuring George Brothers and Ol Blue on Saturday, Dec. 6. Although Sherbrooke Village is unable to offer its traditional weekend of activities because it will be closed for power-line upgrades, a number of related events hosted by the two organizations at the St. Mary’s Lions Hall will help maintain the spirit of Christmas. Maritimes and Northeast Pipeline is returning as a sponsor. Sherbrooke Village aims to offer a bigger and more eco-friendly Old Fashioned Christmas in the future. “Our community partners have long been supporters of Old Fashioned Christmas, and we’re grateful for their extra support to make some events possible this year,” said Lynne Hayne, manager development and promotions for Sherbrooke Village. “With their help, our community will come together again to celebrate the joys of the season, from skating and hot chocolate to Santa and Christmas lights.” The Christmas tree lighting will take place as usual at Maple Manor on Friday, Dec. 5. Participants traditionally parade through Sherbrooke Village after the lighting. This year, they will parade to the St. Mary’s Recplex which will be decorated with lights that normally light up the village. There will be a family skate, refreshments, a visit from Santa and fireworks. Donations of money and non-perishable food will be collected for the St. Mary’s Food Bank at the tree lighting and the Recplex. Conserve Nova Scotia, Nova Scotia Power and the St. Mary’s Lions Club will collect old incandescent holiday lights. Participants can exchange two sets of old lights for one set of energy-efficient LED lights. Quantities are limited and will be provided on a first come first served basis.last_img read more

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NGT junks plea against illegal operation of water supply tankers

first_imgNEW DELHI: The National Green Tribunal (NGT) on Wednesday refused to entertain a plea highlighting the issue of illegal operation of water supply tankers in the national capital without being registered with the Delhi Jal Board (DJB) and valid consent for extraction of ground water.A bench headed by NGT Chairperson Justice Adarsh Kumar Goel said the petition lacks material and it simply alleges corruption is taking place without stating specific instances. Also Read – After eight years, businessman arrested for kidnap & murderThe tribunal was hearing a plea filed by environment activist Vikrant Tongad claiming that there has been an unprecedented increase in the number of water supply tankers operating in Delhi. “While Delhi Jal Board sends around 900 water tankers everyday to supply water to households, there are more than twice as many private and unregistered water tankers that are traversing through the NCT of Delhi, where there is no level of regulation with regard to where they are sourcing their water from or to whom it is being supplied,” it had said. Also Read – Two brothers held for snatchingsThe plea had said that there is no check on the quality of the water being delivered for drinking purpose, which is a big risk to the lives of citizens. “The increase in the number of private water tankers has given birth to a ‘water tanker mafia’, which has been responsible for drilling roughly over 2,00,000 bore wells for the purpose of extracting ground water,” it had said. Referring to an RTI response, Tongad had said that there were a total of 163 government water tankers in the North West district out of which not a single water tanker has been registered.last_img read more

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RedOne Produces Album for Rai Star Faudel

Rabat – After producing an album for Khaled, the King of Rai, Moroccan producer, RedOne, is collaborating with “the Prince of Rai,” Faudel, on his latest album.Faudel, who has been absent from the musical scene for a while, will release a new album produced by RedOne. The two artists made the announcement at a press conference on Tuesday in Casablanca.The new album, representing the fruit of two years of work, will contain more than 20 titles. Faudel promises to unveil the album’s first single to the public at the beginning of Ramadan. “All day, all Night” will be sung in Arabic, said Faudel, explaining that he is “very happy” to collaborate with a producer as “wonderful” as RedOne.Originally from Tetouan, RedOne is a producer and arranger as well as a composer. To date, he is considered to be one of music’s most popular producers.RedOne has won two Grammy Awards and three Brit Awards. His repertoire includes work with the likes of Michael Jackson, Lady Gaga, Khaled, Pitbull, Shakira, Usher, Jennifer Lopez, Enrique Iglesias, Mika and Christina Aguilera.Faudel first captured public attention with his hit song, “Tellement je t’aime,” almost 20 years ago. It continued with the collaborative project “1, 2, 3 Soleils,” with Khaled and Rachid Taha. He ended up pursuing his solo career, and released four albums in the 2000s.He suffered criticism for supporting Nicolas Sarkozy’s campaign in 2007, which lead to a dip in his fame. This collaboration with RedOne could give his career a new lease on life. read more

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Peace committee to meet

The police said that the Colombo Crimes Division (CCD) is investigating the incident. The SLMC leader’s media spokesman Dr. A. R. A. Hafeez told the Colombo Gazette that the IGP had told the Minister a peace committee will be formed and it will meet in Grandpass today to ensure such a situation does not arise again.Minister Hakeem had instructed the IGP to ensure tight security for the area following last night’s incident, the SLMC spokesman said. Several houses in the area were also damaged during the mob attack and at least seven people including two policemen were also injured. (Colombo Gazette) Report by Easwaran Rutnam A peace committee will convene in Grandpass today to discuss the violence which erupted last night when a mob attacked a mosque in the area.Sri Lanka Muslim Congress leader and Justice Minister Rauf Hakeem had returned to Colombo last night after cutting short his election campaigning in Kandy and spoke to IGP N.K. Illangakoon on the incident. Buddhists and Muslims clashed at Grandpass after the mosque was attacked and a police curfew was imposed till 7 this morning. read more

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Ranil says his wife gets higher salary than him

Prime Minister Ranil Wickremesinghe says his wife, Maithree Wickramasinghe, gets a higher salary than him.The Prime Minister told Parliament today he backs proposals to increase the salary of Parliamentarians. He said he also has no objections to Parliamentarians being given vehicles to carry out their work in their electorates.Meanwhile, Tourism Minister John Amaratunga said that MPs need to be given better housing. He said that while private companies are erecting new apartments in the city, nothing is being done for the MPs. (Colombo Gazette) read more

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Silent protest staged in Colombo over attack on Methodist Church

Prime Minister Ranil Wickremesinghe met the Inspector General of Police (IGP), Methodist Church Bishop Asiri Perera and others over the incident this week.At the meeting he advised the IGP to take action over the attack and provide protection to the church. (Colombo Gazette) Leaders from other religions also extended support to the protest. A group of about 25 people had threatened the Methodist Church Bishop Asiri Perera on Palm Sunday and then attacked the church with stones and firecrackers. A silent protest was staged in Colombo today over the attack on a Methodist Church in Anuradhapura.Clergy and members of various Christian denominations attended the protest staged near the Colombo Methodist Church. Photo courtesy Veerakesari online read more

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Sudan UN human rights officials to meet abuse victims local officials in

The two senior United Nations human rights officials dispatched by Secretary-General Kofi Annan to the strife-torn Darfur region of Sudan to examine how civilians can be protected from continuing attacks by armed militias will visit camps for displaced persons, speak to abuse victims and hold talks with local officials, the UN announced today.The Office of the UN High Commissioner for Human Rights Louise Arbour – who begins a weeklong mission to Darfur tomorrow with Mr. Annan’s Special Adviser on the Prevention of Genocide Juan Méndez – unveiled details of the mission in Geneva.Mrs. Arbour’s spokesman José Luis Díaz told reporters the High Commissioner and Mr. Méndez will travel to Darfur’s three states to meet victims of human rights abuses, inspect camps for internally displaced persons (IDPs) and hold talks with local officials and staff from UN agencies and non-governmental organizations (NGOs).Mr. Díaz said the pair will head on Monday to El Fasher, the capital of North Darfur State, before travelling to South Darfur and then West Darfur later in the week. The mission is then expected to return to the capital Khartoum on Friday before heading back to Geneva.Mr. Annan announced the trip yesterday, saying the two officials were not going to Darfur to decide whether genocide has taken place, but to recommend what can be done to protect civilians now and in the months ahead.In a statement, Mrs. Arbour said: “My colleagues have been very active in the field monitoring the situation and working with our partners. Along with the Secretary-General’s Special Adviser, we will be looking at what more can be done to prevent further violations so the people of Darfur no longer have to fear massacres, rape, forced displacement and other abuses.”More than 1.2 million Sudanese are internally displaced and another 200,000 are living as refugees in neighbouring Chad because of brutal and often deadly attacks by Arab-dominated Janjaweed militias against the mainly black African local inhabitants.The Janjaweed, which are allied to Khartoum, began their attacks after two rebel groups – the Sudan Liberation Army (SLA) and the Justice and Equality Movement (JEM) – rose up against the Sudanese Government in Darfur early last year.Meanwhile, the Security Council has scheduled a meeting at 3pm tomorrow to discuss a draft resolution, sponsored by the United States, on the Darfur crisis. read more

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US factory output fell 08 per cent in January autos appliances and

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Josh Boak, The Associated Press Posted Feb 14, 2014 7:48 am MDT WASHINGTON – Harsh winter weather led to a steep drop in U.S. factory output in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased productionThe Federal Reserve said factory production plunged 0.8 per cent in January, reversing gains of 0.3 per cent in both December and November. Automakers lost days of production because of snowstorms, as their production plummeted 5.1 per cent, the report said.Factory output rose a modest 1.3 per cent over the past 12 months.Overall industrial production, which includes manufacturing, mining and utilities, fell 0.3 per cent in January. Output for utilities rose 4.1 per cent last month as the freezing temperatures boosted heating demand.Factories responded to the weather by running at a lower 76 per cent capacity, a 0.7 percentage point drop over the month and 2.7 percentage points below the long-run average.The repeated battery of winter storms has slowed down the pace of economic growth, ending momentum that has boosted gross domestic product in the second half of last year. Cold weather last month delayed shipments of raw materials and caused some factories to shut down.The Institute for Supply Management, a trade group of purchasing managers, reported earlier this month that its index of manufacturing activity fell to 51.3 in January from 56.5 in December. It was the lowest reading since May, although any reading above 50 signals growth.Factory orders also fell 1.5 per cent in December, according to the Commerce Department. That could have contributed to less output in January.The figures suggest that U.S. manufacturing is slowing after strong gains at the end of last year. Auto sales approached 15.6 million last year but buying has since decelerated. Businesses are spending cautiously on machinery and other large factory goods. The slowdown means that economic growth in the first three months of this year will probably come in significantly below the strong 3.6 per cent annual pace in the second half of 2013.The economic forecaster Macroeconomic Advisers projected Thursday that growth this quarter would be 1.7 per cent. US factory output fell 0.8 per cent in January; autos, appliances and furniture decline FILE – In this Thursday, Jan. 9, 2014, file photo, workers assemble ovens at the new Electrolux home cooking appliance factory in Memphis, Tenn. The Federal Reserve releases industrial production for January on Friday, Feb. 14, 2014. (AP Photo/Adrian Sainz, File) read more

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US factory output jumps 1 per cent in July autos furniture textiles

by Josh Boak, The Associated Press Posted Aug 15, 2014 7:35 am MDT WASHINGTON – U.S. factory output rose for the sixth consecutive month in July, led by a jump in the production of motor vehicles, furniture, textiles and metals.Manufacturing production rose 1 per cent in July compared with the prior month, the Federal Reserve reported Friday. Factory output in June was revised slightly higher to a 0.3 per cent increase. Over the past 12 months, manufacturing has risen 4.9 per cent.Demand for autos surged 10.1 per cent last month, the largest increase since July 2009. The broader increase in manufacturing points to stronger growth across the economy, suggesting that manufacturers expect the pace of business investment and consumer spending to improve in the coming months.“Manufacturing will continue to add to the recovery throughout 2014 and into 2015,” said Stuart Hoffman, chief economist at PNC Financial Services.Overall industrial production, which includes manufacturing, mining and utilities, rose 0.4 per cent in July, dragged down by a 3.4 per cent drop in production at utilities.Several other reports suggest that factory production improved this summer.Manufacturers added 28,000 workers last month, according to the government’s jobs report. That builds on the 23,000 employees that factories added in June, a sign that companies expect demand to continue its upward swing.Separately, the Institute for Supply Management, a trade group of purchasing managers, reported that its manufacturing index climbed to 57.1 in July. That’s the highest level since April 2011 and up from 55.3 in June.Anything above 50 signals that manufacturing activity is growing.The increase in the index led Paul Dales, senior U.S. economist at Capital Economics, to conclude that “manufacturing payrolls may soon start to rise by close to 50,000 a month.”Factory orders rose a seasonally adjusted 1.1 per cent in June compared with the previous month, the Commerce Department reported Tuesday. Orders had fallen 0.6 per cent in May after three straight monthly gains.An 8.4 per cent jump in demand for commercial aircraft drove much of the gain, yet orders also picked up for machinery, iron, steel, computers and electronics.Rising factory output should help the current economic expansion to continue.The U.S. economy shrank at a 2.1 per cent annual rate in the first quarter, although it bounced back at an annual clip of 4 per cent in the second quarterMost analysts expect the economy to expand at a roughly 3 per cent rate in the second half the year. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email US factory output jumps 1 per cent in July; autos, furniture, textiles and metals lead gains read more

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Stock markets slide after latest European Central Bank stimulus plans

TORONTO – Fresh moves by the European Central Bank on its stimulus plans left traders feeling underwhelmed on Thursday and helped pull down North American stock markets.Toronto’s S&P/TSX index closed the session down 139.15 points at 13,324.67, while the Canadian dollar rose 0.06 of a cent at 74.97 cents U.S.The ECB announced a reduction in one of its key interest rates as part of an attempt to stimulate lending, but the bank’s cut on commercial bank deposits to negative 0.3 per cent, from the previous 0.2 per cent, was widely received as disappointing.The announcement caused the euro to jump three per cent against the dollar — a large move.Meanwhile in the United States, the Federal Reserve chairwoman Janet Yellen delivered more comments to solidify expectations of a U.S. interest rate hike later this month.“The ECB not doing a huge amount today kind of clears the runway for the Fed to do a liftoff for interest rates later this month,” said Colin Cieszynski, chief market strategist at CMC Markets Canada.“The way Yellen has been talking this week … they’re going to give it serious consideration.”On Wall Street, the Dow Jones plunged 252.01 points at 17,477.67, the broader S&P 500 index declined 29.89 points to 2,049.62 and the Nasdaq lost 85.70 points to 5,037.53.European stocks also had one of their worst days in months. Germany’s DAX plunged 3.6 per cent, its biggest drop since September. France’s CAC-40 index lost 3.6 per cent and the U.K.’s FTSE lost 2.3 per cent.In commodities, the February gold contract rose $7.40 to US$1,061.20 an ounce, helping make the TSX gold sector one of the sole gainers of the session, rising 1.8 per cent.The energy sector dropped nearly 0.1 per cent as the January crude contract settled $1.14 higher at US$41.08 per barrel and the January contract for natural gas was ahead 1.6 cents at US$2.18.Canada’s six biggest banks finished reporting their latest financial results on Thursday, wrapping up another blockbuster period of results. Overall, the banks posted an 11.4 per cent increase in profits to $8.61 billion, despite concerns that a sluggish domestic economy could slow momentum.The TSX financial sector dropped 1.2 per cent.On Friday, the latest data on the U.S. jobs market is forecast to show 200,000 new jobs created in November, according to economists.Canada will issue its November labour force survey, which is expected to show a drop of 30,000 jobs as the oil sector continues to make sweeping cuts to improve results and temporary employment from the federal election winds down.— with files from The Associated Press.Note to readers: This is a corrected story. A previous version said the energy sector dropped nearly one per cent. by David Friend, The Canadian Press Posted Dec 3, 2015 8:14 am MDT Last Updated Dec 3, 2015 at 4:44 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Stock markets slide after latest European Central Bank stimulus plans read more

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US home construction fell 9 per cent in September

by Martin Crutsinger, The Associated Press Posted Oct 19, 2016 6:48 am MDT Last Updated Oct 19, 2016 at 7:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email US home construction fell 9 per cent in September WASHINGTON – Homebuilders pulled back on construction for a second straight month in September, with a plunge in apartments offsetting gains in single-family homes. Building activity was weak in all parts of the country except the Midwest.Construction tumbled 9 per cent in September to a seasonally adjusted annual rate of 1.05 million units, the Commerce Department reported Wednesday. It was the slowest pace in 18 months. Construction had fallen 5.6 per cent in August.The weakness last month reflected a 38 per cent drop in construction of apartments, which overshadowed an 8.1 per cent rise in single-family construction.Despite the two months of declines, home construction has been one of the bright spots in the economy this year. Builders have been scrambling to keep up with rising demand amid continued strong job gains and low mortgage rates.The September performance was weaker than expected. Analysts had been forecasting a rebound. But they noted that the smaller apartment segment of construction is often volatile from month to month.“Given the volatility of the multifamily sector, there is not enough in this report to suggest the steady uptrend in housing starts is changing yet,” economists at Contingent Macro Research said in a research note.Applications for building permits, a good sign of future activity, posted an increase of 6.3 per cent in September. It was the biggest one-month gain since last November, pushing activity to an annual rate of 1.22 million units.By region of the country, construction starts rose 6.6 per cent in the Midwest, the only region showing a gain. Construction fell 31.5 per cent in the Northwest, 15.6 per cent in the South and 4.4 per cent in the West.A survey of builder sentiment on Tuesday showed that builders’ confidence about the future eased back a bit this month after surging to the highest level in nearly a year in September. read more

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