BANKING & FINANCELeave a comment

Central banks of world’s major economies to boost flow of US dollars amid market unease

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Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger. Six central banks, including the Bank of England, announced they would boost the flow of US dollars through the global financial system. On Sunday the struggling Credit Suisse was taken over by UBS in a Swiss government-back deal. The US dollar liquidity “swap line” arrangement will run from Monday. In a statement the Bank of England, Bank of Japan, Bank of Canada, the European Central Bank, US Federal Reserve and Swiss National Bank launched the co-ordinated action to … Continue reading Central banks of world’s major economies to boost flow of US dollars amid market unease

CORRUPTIONLeave a comment

South African corruption investigator mysteriously shot dead

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A South African accountant who was investigating high-level corruption cases has been shot dead along with his son. Cloete Murray, 50, was the liquidator for Bosasa, a company implicated in numerous government contract scandals. He also worked as a liquidator for firms linked to the wealthy Gupta brothers, who deny bribery accusations. Police will see if there is a link between Mr Murray’s murder and these corruption investigations. Mr Murray was shot by unknown gunmen while driving in Johannesburg with his 28-year-old son Thomas, a legal adviser, on Saturday. His son died at the scene while Mr Murray was taken … Continue reading South African corruption investigator mysteriously shot dead

MIDDLE EASTLeave a comment

Saudi Arabia invited Iran’s President Raisi to visit, Tehran says

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Iran says Saudi Arabia has invited Iranian President Ebrahim Raisi for an official visit – just over a week since the countries agreed to restore diplomatic relations. The invitation is said to have come in a letter from King Salman, but has not yet been confirmed by the Saudis. The Middle East’s recent history has been dominated by hostility between the two nations. China brokered the thaw, which could reshape the region’s geopolitics. A senior Iranian official, Mohammad Jamshidi, tweeted about the invitation to visit the Saudi capital, Riyadh, saying Mr Raisi had welcomed it and “stressed Iran’s readiness to expand … Continue reading Saudi Arabia invited Iran’s President Raisi to visit, Tehran says

ANIMAL CONSERVATIONLeave a comment

Massive clean-up begins as Australia witness mass fish death amid heat wave

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A major clean-up operation is under way in Australia after millions of fish died in a river in New South Wales state (NSW). The recovered carcasses are likely to end up in landfill. An emergency hub has been set up at Menindee in the state’s far west to co-ordinate the clean-up and monitor water quality. The deaths are thought to have been caused by an unseasonal heatwave. Temperatures in the area reached 40C (104F) at the weekend. Authorities said there was “no need for community concern” over water quality in the river, which supplies many local residents. “There is ongoing … Continue reading Massive clean-up begins as Australia witness mass fish death amid heat wave

BANKING & FINANCELeave a comment

Saved By The Bell: Swiss largest bank UBS accquires Credit Suisse in emergency rescue deal

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Troubled bank Credit Suisse has been rescued by its Swiss rival UBS in a government-backed deal. Sunday evening’s announcement came after a weekend of emergency talks in Switzerland between the two banks and the country’s financial regulators. The Swiss National Bank said the deal was the best way to restore the confidence of financial markets and to manage risks to the economy. The Bank of England said it welcomed the “comprehensive set of actions”. Credit Suisse shareholders were deprived of a vote on the deal and will receive one share in UBS for every 22.48 shares they own, valuing the … Continue reading Saved By The Bell: Swiss largest bank UBS accquires Credit Suisse in emergency rescue deal

CHINALeave a comment

Two men arrested for possessing ‘seditious’ children’s books in Hongkong

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Two men have been arrested in Hong Kong for the possession of picture books which authorities say are “seditious”. They are believed to be the first arrested for merely owning the books – after the publishers were jailed last year. Authorities interpreted the books – about sheep trying to hold back wolves from their village – as referring to Hong Kongers and China’s government. The arrests are another deterioration of Hong Konger’s rights, critics say. Human Rights Watch described the arrests as “shameful”, and said the territory was using its colonial-era sedition law to clamp down on dissent. Hong Kong … Continue reading Two men arrested for possessing ‘seditious’ children’s books in Hongkong

DIPLOMACYLeave a comment

China’s Xi to meet Putin in Moscow next week

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China’s President Xi Jinping will travel to Moscow next week to hold talks with Russian President Vladimir Putin, officials say. The Kremlin said they would discuss a “comprehensive partnership and strategic co-operation”. The visit comes as Beijing, an ally of Russia, has offered proposals to end the war in Ukraine, which the West has given a lukewarm reception. Western countries have warned Beijing against supplying Moscow with weapons. Beijing’s foreign ministry said Mr Xi will be in Russia from 20 to 22 March at the invitation of Mr Putin. A number of “important bilateral documents” are expected to be signed. … Continue reading China’s Xi to meet Putin in Moscow next week

HUMAN INTERESTLeave a comment

Australian man set new record for longest surf session

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An Australian man has broken the world record for the longest surfing session – and was continuing to ride waves until Friday evening local time. Blake Johnston’s record break came after 30 hours and 11 minutes in the water at Cronulla beach in south Sydney. Describing himself as “pretty cooked”, Johnston told reporters he would keep going as “I still have a job to do”. His board-riding marathon has raised some $A240,000 for charity. With spotlights to illuminate a section of Cronulla’s surf known as “The Alley”, Johnston kept going overnight and by Friday lunchtime had ridden over 600 waves. … Continue reading Australian man set new record for longest surf session

LATIN AMERICALeave a comment

Gangs sow terror in Brazil cities for third night

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Several cities in north east Brazil are suffering from serious unrest caused by marauding criminal gangs. For the third night, gang members set buses ablaze and carried out gun attacks on buildings in urban areas in Rio Grande do Norte state. The attacks are thought to have been sparked by conditions in jails holding gang members. Brazil’s government sent hundreds of federal security forces to the region earlier this week. Justice and Security Minister Flavio Dino said hundreds more could be sent in the coming days as unrest continues. The state government has convened a crisis cabinet and has asked … Continue reading Gangs sow terror in Brazil cities for third night

UncategorizedLeave a comment

A US university reaches settlement with family of student who died begging for water

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A university in Kentucky has agreed to pay $14m to the family of a wrestler who died of heat stroke after he begged for water during training. Grant Brace, 20, died in August 2020 after sprinting up and down a steep hill multiple times. His lawyers said coaches refused to allow him water. Two coaches named in the suit allegedly created an “atmosphere of fear of intimidation” on the team. The University of the Cumberlands said it hoped the deal would give closure. But it maintained that it could have defeated a lawsuit had it proceeded to trial. “We sincerely … Continue reading A US university reaches settlement with family of student who died begging for water

UncategorizedLeave a comment

California lifts some water restrictions after storms and floods

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California’s stormy winter, which has brought severe flooding and landslides to the state, has led some local officials to lift water rules. Water conservation restrictions have been relaxed for nearly seven million people in Southern California after the state’s 11th atmospheric river this season helped ease drought. But experts cautioned drought remains a long-term concern for the state. “Dry conditions could return as soon as next year,” local officials said. Excess heat in the atmosphere is taking more moisture out of the earth and worsening droughts, though not all droughts are caused by climate change. The Metropolitan Water District of Southern … Continue reading California lifts some water restrictions after storms and floods

UKRAINE WARLeave a comment

Poland to send four fighter jets to Ukraine soon amid brutal war

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Poland will send four Soviet-era Mig fighter jets to Ukraine – becoming the first Nato country to send planes since Russia invaded last year. Polish President Andrzej Duda said they would be sent in the coming days, with others handed over in the future. Though a welcome boost to Ukraine’s air defence, the extra jets are not expected to be decisive in the war. The deputy speaker of Ukraine’s parliament Olena Kondratyuk said she hoped more countries would follow. Other Nato countries are considering sending the Soviet-era planes, which Ukrainian pilots are trained to fly. Ukraine has previously asked Western … Continue reading Poland to send four fighter jets to Ukraine soon amid brutal war