(MENAFN- IANS) New Delhi, April 4 (IANS) Gold prices, on Thursday, soared to a new lifetime high of Rs 69,908 per 10 gm on India's Multi Commodity Exchange (MCX) after the price of the precious metal scaled a new all-time high in the international market for the seventh consecutive trading day.
Gold futures contract on the MCX for June 2024 expiry opened at Rs 69,868 per 10 gm in morning trade, after which it soared to Rs 69,908 per 10 gm level following news of the precious metal scaling high of $2,323.70 per ounce in the international market.
Gold prices have now been scaling record highs over each of the last seven trading sessions. According to market experts, the latest surge came after US Fed Chairman Jerome Powell's speech on Wednesday that appeared to confirm the interest rate cut in the near-term. Lower interest rates make investments in financial instruments less lucrative and this tends to trigger the switch to buying gold.
Gold prices have gained close to 11 per cent so far this year as it is seen as a safe investment amid geopolitical and economic uncertainty in the wake of escalating tensions triggered by the Israel-Hamas conflict and the Russia-Ukraine war.
Central banks of various countries, led by China, have also been buying gold in large quantities which has contributed to the price rise.
The demand for gold in the Indian market is fuelled by the need for the precious metal in weddings as it is gifted to brides and grooms in large quantities as jewellery. However, jewellers are of the view that the soaring gold prices are dampening this demand. This is also reflected in the declining imports of the precious metal, according to them.
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(MENAFN- IANS) Mumbai, Sep 25 (IANS) On the birth anniversary of filmmaker Yash Chopra, Aditya Chopra will reveal 'Tiger Ka Message', a video that is a precursor to the trailer of 'Tiger 3'.
A source said:“This video is a prelude to the trailer of 'Tiger 3'. It will have Salman Khan as the agent Tiger deliver an important message.”
“Salman is the OG of the YRF Spy Universe who played a very crucial role in shaping how big the franchise has become today and all eyes on 'Tiger 3' to reveal the next series of events from the YRF spy universe.”
The source added:“Expectations from 'Tiger 3' is sky high which releases this Diwali! This is the fifth film from the fabled YRF Spy Universe so audiences are, by now, heavily invested into how this franchise is shaping up.”
“They are also massively clued into the life stories of the three super-spies from this universe! So, 'Tiger 3', which follows the events of 'Tiger Zinda Hai', 'War' & 'Pathaan', is a relishing promise to see an edge of the seat action entertainer that people haven't seen before on screen!”
Aditya Chopra is building the YRF Spy Universe and 'Tiger 3', starring Salman Khan and Katrina Kaif, is the next one.
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(MENAFN- Jordan Times) AMMAN - The Court of Cassation has upheld a March 2022 Irbid Appeals Court ruling sentencing a man to over three years in prison after convicting him of committing a violent robbery in a restaurant in January 2020.
The defendant was convicted of snatching two shawarma sandwich meals worth JD10 from a restaurant in downtown Irbid and hitting the owner with a chair in the process.
However, the court decided to reduce the prison term to three years and eight months“because the defendant was young and deserved a second chance in life”.
Court papers said the defendant headed to a restaurant at night to buy two shawarma meals.
When the employee handed over the meals to the defendant, the court maintained, he took the sandwiches“and refused to pay for them”.
“The owner of the restaurant asked the defendant to pay for the meals, but he refused and hit him with a chair on his head and left,” the court maintained.
The restaurant owner filed a complaint, and police were able to identify the defendant from the establishment's cameras, the court added.
The defendant contested the Irbid Appeals Court's ruling through his lawyer, asking for a lesser charge claiming that“his client agreed with the restaurant owner to pay for the meals on another day because he did not have cash on him”.
Meanwhile, the Irbid Appeals Court's general attorney asked the higher court to uphold the verdict against the defendant.
The Court of Cassation ruled that the verdict was correct and the defendant deserved the ruling he had received.
The Cassation Court comprised judges Mahmoud Ebtoush, Mohammad Khashashneh, Nayef Samarat, Qassem Dughmi and Hammad Ghzawi.
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(MENAFN- Jordan News Agency)
Ottawa, Feb. 22 (Petra) - In a ceremony held at Rideau Hall in Ottawa, Ambassador Sabah Rafaie presented her credentials to the Governor General of Canada, Mary May Simon, and assumed her role as the accredited Ambassador Extraordinary, Plenipotentiary and Resident of Jordan to Canada.
During the ceremony, Ambassador Rafaie conveyed the warm regards of His Majesty King Abdullah II to Governor General Simon, extending sincere wishes for the continued progress and prosperity of the Canadian people.
In response, Governor General Simon expressed her appreciation for the gracious message and conveyed her admiration for His Majesty's wise leadership and the enduring friendship between Jordan and Canada.
The exchange of diplomatic pleasantries underscores the mutual commitment of both countries to further enhance bilateral relations across various sectors. Governor General Simon emphasized Canada's keen interest in fostering closer ties with Jordan and expressed optimism for future collaboration and mutual benefit.
The event was attended by dignitaries from the Canadian government, including representatives from the Ministry of Foreign Affairs, as well as members of the diplomatic community in Ottawa.
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(MENAFN- Bangladesh Monitor)
Dhaka: Dhaka Regency has announced its exclusive offer for Ramadan 2023. The hotel has prepared a range of special packages and discounts for its guests to celebrate the holy month in style.
The hotel's Ramadan Special Room Package includes special rates for guests staying during the holy month. During their stay, guests will enjoy luxurious accommodations, delicious iftar followed by dinner and suhoor meals, buffet breakfast, and a range of activities and experiences that will bring the spirit of Ramadan to life.
From special menus at the hotel's restaurants to unique events and entertainment, Dhaka Regency promises to provide guests with an unforgettable Ramadan experience. Guests can break their fast with the hotel's delicious buffet iftar followed by dinner, featuring a wide range of traditional Middle Eastern and international dishes.
Also, selected bank cards holders, Dhaka Regency Premier Club Members and GP Stars can enjoy Buy One Get One free offer on buffet iftar followed by dinner at the hotel's signature Grandiose Restaurant.
"We are delighted to offer this exclusive package to our guests during Ramadan," said Dhaka Regency's Director of Sales and Marketing Mahmud Hassan. "We want to ensure that our guests have a memorable and meaningful experience during this special month, and we believe that our offer will provide just that."
Moreover, Dhaka Regency has announced various offers at its various outlets; such as 20 per cent discount on spa, 30 per cent discount on desserts BOGO free offer on burger and pizza, among others.
The offer is available from the first of Ramadan and will continue till the end.
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(MENAFN- Khaleej Times) 'All upstream investments would be domestically focused to achieve that goal' Agencies file By Reuters
Published: Mon 16 May 2022, 12:23 PM
Last updated: Mon 16 May 2022, 12:24 PM
Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day (bpd) to over 13 million barrels bpd by the end of 2026 or start of 2027, the energy minister said on Monday.
Prince Abdulaziz bin Salman told an energy conference in Bahrain that production could be maintained at that level once it was reached should market demand require it.
The prince also said all upstream investments would be domestically focused to achieve that goal.
'We have no money to waste on anywhere else,' he told the conference, adding that production could reach between 13.2- 13.4 million bpd.
On the Durra natural gas field, located in an energy-rich area shared with Kuwait, the minister said both countries were proceeding with its development.
Iran says it has a stake in the field and considers a Saudi-Kuwaiti agreement signed earlier this year to develop it 'illegal'.
Saudi Arabia and Kuwait invited Iran in April to hold negotiations to determine the eastern limit of the joint offshore area and reaffirmed their right to develop the gas field located within it.
- Saudi Aramco's first-quarter net profit soars 82% on high oil prices
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'It will proceed anyway because Kuwait needs gas, we need gas and we cannot be derailed for more than 22 years,' Prince Abdulaziz said.
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(MENAFN- IANS) Mumbai, Feb 13 (IANS) Actress Aakanksha Pal shared her plans for the Vasant Panchami celebrations, and reminisced about her childhood memories of Saraswati Puja.
Aakanksha, who essays the role of Nimrat in the show 'Kaise Mujhe Tum Mil Gaye' said: "Vasant Panchami is a celebration of new beginnings and the blossoming of knowledge. On this auspicious day, I embrace the spirit of Saraswati Puja by immersing myself in learning and creativity."
"Whenever I do Saraswati Puja, It reminds me of my childhood days when I used to do puja with my mother and she used to teach me the significance of it. It is a festival that marks the preparation for the arrival of spring. I think the festival is celebrated in its unique way in different regions of the country, depending on their cultures," she shared.
The actress added: "I will also be performing the Saraswati Puja with devotion, seeking blessings for wisdom and guidance. Let us all embrace the wisdom of Maa Saraswati and embark on this journey of enlightenment and growth this Vasant Panchami."
The show stars Sriti Jha and Arjit Taneja in the lead. It airs on Zee TV.
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1 Top Growth Stock to Buy on the Dip
The S&P/TSX Composite Index has bounced back nicely over the last two trading sessions after a rough start to the week. This has followed the green trend for the rest of the North American markets. Today, I want to look at a top growth stock that is worth snagging on the dip.
MAV Beauty Brands (TSX:MAV) is a Vaughan-based personal care company. Its shares have plunged 57% in 2021 as of late afternoon trading on September 22. The stock is down 35% from the prior year.
The company released its second quarter 2021 results on August 12. Total revenue was down marginally from the prior year to $29.1 million.
Meanwhile, adjusted EBITDA was more than halved to $3.8 million. The company suffered from net distribution decreases across several of its brands. It did deliver revenue growth of 34% in its international segment.
This foray into the global market holds promise for MAV Beauty going forward. Moreover, the personal care industry is geared up for big growth in the years ahead. ResearchAndMarkets recently projected that the global beauty and personal care market would reach $558 billion U.S. by 2026. This would represent a CAGR of 4.8% over the forecast period dating from 2021.
Shares of MAV Beauty possess a very attractive price-to-earnings ratio of 7.5. Now is the time to jump on this growth stock that has a great chance to erupt over the course of the 2020s.
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(MENAFN- Jordan News Agency)
Amman, June 4 (Petra) -- The Ministry of Digital Economy and Entrepreneurship has signed a strategic partnership agreement with IrisGuard, an international supplier of end-to-end iris recognition biometric technology, aiming to utilize iris recognition technology in government and private sector services.
According to a statement by the ministry on Sunday, this partnership represents a significant leap forward in the services provided to citizens and residents, reinforcing the digital transformation journey, with Jordan recognized as one of the pioneering countries in implementing innovative iris recognition technologies in government services.
The services offered by IrisGuard under this partnership include the activation of digital identity cards (SANAD) at all Jordanian post offices and the Kingdom's embassies abroad. Additionally, the agreement encompasses providing services related to property, real estate, and vehicle ownership through iris recognition technology.
The agreement's implementation is expected to commence in phases in the coming weeks, with future expansions to include additional government sectors, such as the electronic gateway for travelers and healthcare services. Moreover, a package of services will be extended to the private sector and residents of the Kingdom.
During the signing ceremony, Minister of Digital Economy Ahmed Hanandeh highlighted the agreement being a crucial step in developing government services in Jordan, advancing the digital sector, and enhancing modern technology as a driver for economic development.
"It reflects the comprehensive vision of His Majesty King Abdullah for administrative and economic reforms, and represents a qualitative leap in leveraging advanced iris recognition technologies for the benefit of citizens and residents," he added.
In response, Imad Malhas, the CEO of IrisGuard, expressed eagerness to create a more advanced and efficient environment by relying on digital technology, and contribute to the realization of Jordan's leading vision in the digital economy.
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(MENAFN- AsiaNet News) Kochi: A 4 cm-long cockroach was removed from the lungs of a 55-year-old man in Kochi. The cockroach was removed from the lung of a person who sought treatment for severe breathing problems at Amritha Hospital in Kochi. A medical team led by Dr Tinku Jospeh, Head of Interventional Pulmonology, removed the cockroach from the lungs.
The incident happened on February 22. The health experts said that the cockroach entered the lungs through a tube that was pierced in the neck to give oxygen to a patient with respiratory problems.
The man's breathing becomes severe. Later, the ENT department performed a bronchoscopy and found cockroaches in the lungs. With this, the medical team of the interventional pulmonology department examined the patient. The cockroach was removed from the lungs after about eight hours of respiratory arrest. By this time, the cockroach was in a state where it was starting to crumble.
Dr. Tinku Joseph explained to Asianet News Online that people seek medical help with many things stuck in their lungs, but experiences like being trapped by a cockroach are very rare.
The health experts speculate that such incidents may occur due to negligence, such as forgetting to close the breathing tube. Notably, the 55-year-old man involved in the incident has been discharged from the hospital.
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(MENAFN) In a move that has sparked concerns over national security, Italy is reportedly set to withdraw its SAMP/T surface-based air defense system from Slovakia, according to statements made by Slovak Prime Minister Robert Fico. The system, which was temporarily deployed to Slovakia last year as a replacement for the United States Patriot anti-aircraft system transferred to Ukraine, is now being recalled by Italy for deployment elsewhere.
Prime Minister Fico expressed apprehension about the impending withdrawal, citing the lack of an alternative system to protect Slovakia's airspace once the Italian defense system is removed. The absence of a contingency plan raises concerns about the vulnerability of the nation's security, especially considering the recent history of military aid transfers and the dismantling of previous air defense infrastructure.
Fico highlighted the complex dynamics at play, pointing to the prior donation of a Russian S-300 air defense system to Ukraine by the previous government. Following that, the temporary presence of American Patriots in Slovakia was also brought to an end. Now, with the imminent withdrawal of the Italian system, questions arise about the strategic choices made by the Slovak government in prioritizing military aid to Ukraine over ensuring its own defense capabilities.
The concerns voiced by Prime Minister Fico echo sentiments raised by Slovakia's newly-appointed defense minister, Robert Kalinak. In a January interview, Kalinak questioned the wisdom of sacrificing Slovakia's military assets for the benefit of Ukraine without securing viable replacements. He warned that rectifying the resulting damage to national security would likely require years of strategic planning and investment.
As Slovakia grapples with the impending void in its air defense capabilities, the situation underscores the delicate balance nations face when providing military aid while safeguarding their own security interests. The evolving scenario prompts a closer examination of the strategic decisions made by governments in navigating complex geopolitical dynamics and ensuring the protection of their territorial integrity.
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(MENAFN- The Peninsula) The Peninsula
Doha: The artists participating in the Qatar International Arts Festival (QIAF) expressed their delight in showcasing their artworks to a wider audience. QIAF, they said, is a platform to interact with different artists from all over the world.
Over 300 artists from 65 countries have joined together for the festival which is running until tomorrow. Works of different medium of arts are being displayed including painting and sculpture. The event is being hosted by Cultural Village Foundation, Katara, and organiser is MAPS International. There are 600 paintings installed at Katara.
Artist Majd Ramadan described the participation of Lebanese artists in the festival as a rich experience. She expressed her happiness for the international artistic vision of a global creative visual scene reflected by the participation of a group of fine artists from different countries.
Ramadan said the festival coincides with the intensive preparations of Qatar as the host country of the FIFA World Cup 2022. The artist explained that the festival allows artists in general and Arabs in particular to learn about different experiences from countries such as Japan and Russia.
Artist, Dr. Ismat Hariri, a first-time participant, said the festival brings together different artistic cultures under one roof. Her works are paintings mixed with a remarkable spirituality; the picturesque elements of nature that are famous in Lebanon. She praised the exhibition and said it provides a valuable opportunity to learn about the experiences of other artists.
Zainab Dandash, who is also participating for the first time, is exhibiting her paintings that embody the intimate character and the concept of family harmony and cohesion. Among them are“The Baalbek Lady” using the collage technique that embodies the Lebanese civilisation in the Baalbek region.
The festival also has 12 international galleries, including Qatar, the UK, Spain, India, Iran, UAE, Colombia, Kazakhstan, Russia and China.
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(MENAFN- Gulf Times) Hamas leader Ismail Haniya reiterated his party's readiness for Palestinian reconciliation yesterday, on his return from Egypt to the Gaza Strip.
On Sunday the Islamist party, which rules Gaza, announced it was willing to cede to a series of demands by president Mahmoud Abbas' rival Fatah party and backed plans for new elections.
Chief among the Egyptian-brokered concessions was dissolving the so-called administration committee.
'The administrative committee in the Gaza Strip is no longer functioning, Haniyeh told a news conference at the Rafah border crossing with Egypt. 'We are ready now to receive the national consensus government to enter the Gaza Strip.
He added that the party was ready to return to Egypt for direct talks with Fatah over the next steps.
'We are ready to return in a few days to Cairo to resume the dialogue, Haniya added, stressing he was 'committed to the success of reconciliation.
On Monday Haniya spoke with Abbas for the first time in nearly a year, and Fatah officials have said they expect prime minister Rami Hamdallah to visit Gaza in the coming days. A poll yesterday found that two thirds of Palestinians want Abbas to stand down, with just a quarter supporting the 82-year-old.
Presidential elections have not been held since 2005, while parliamentary ones last occurred in 2006.
The poll by the Palestinian Centre for Policy and Survey Research found 67% of Palestinians wanted Abbas to step down, up from 62% three months ago.
In the West Bank, where Abbas is based, 60% wanted him out, while in Gaza it
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(MENAFN- IANS) New York, Aug 29 (IANS) Last year's finalist Ons Jabeur of Tunisia defied breathing difficulties to edge past Colombian youngster Camila Osorio 7-5, 7-6(4) to reach the women's singles second round at theOpen on Tuesday.
The 2022 runner-up, who turned 29 on Monday, defied breathing difficulties to edge Colombian youngster Camila Osorio just about put the icing on the cake for a belated birthday celebration with a gutsy performance inside Louis Armstrong Stadium.
Jabeur sprinkled in her trademark drop shots and looping lobs, changing the direction at will, to race 4-1 ahead.
The Tunisian will next play Czech Republic teenager Linda Noskova, who is a 6-2, 6-1 winner over Madison Brengle, on Thursday.
Ekaterina Alexandrova got the better of Leylah Fernandez, the 2021Open women's singles runner-up from Canada, in a first-round match in the women's singles competition.
In a tight contest featuring some high drama, Alexandrova was able to seize the initiative to win the match 7-6(4), 5-7, 6-4.
In other first-round matches on Day 2, Katie Boulter of the United Kingdom defeated Diane Parry of France 6-4, 6-0 while Maria Tatjana of Germany went down to Petra Martic of Croatia 6-2, 6-1.
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(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: The Communications Regulatory Authority (CRA), representing the State of Qatar, is taking part in the Global Symposium for Regulators 2023 (GSR-23).
The symposium organised by the International Telecommunication Union (ITU) in collaboration with the Government of Egypt was held in Sharm El-Sheikh under the theme:“Regulation for a Sustainable Digital Future.”
The GSR-23 is built around interactive high-level panels that address current and cutting-edge policy and regulatory issues, such as novel regulatory approaches for digital transformation, trustworthy and resilient digital infrastructure, online child and youth safety, digital accessibility, going green with the digital transformation, and harnessing the opportunities of the metaverse. GSR-23 also features the Executive Heads of Regulators' Roundtable, the Regional Regulatory Associations Meeting (RA), and the Industry Advisory Group on Development Issues and Private Sector Chief Regulatory Officers' (IAGDI-CRO) meeting.
CRA is keen to actively engage in the meetings held under the ITU's umbrella, particularly the GSR. This event offers regulators and policymakers from around the world a valuable opportunity for discussions and exchanging perspectives and insights among peers and other stakeholders. The GSR facilitates discussing ways of cooperation and checking the current best practices in the field.
In preparation for the event, CRA has submitted its contribution to the draft GSR-23 Best Practice Guidelines Consultation, which focuses on“Regulatory and economic incentives for an inclusive sustainable digital future”. Through its participation, CRA showcased Qatar's expertise in the two areas under consultation.
The first is defining regulatory and economic incentives to stimulate the deployment of sustainable digital infrastructure, especially in rural and isolated areas, and the second is identifying the right incentives required to ensure the introduction of emerging ICT technologies and business models. Furthermore, CRA highlighted the regulatory frameworks and strategies that have been developed by Qatar in this field.
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(MENAFN – Caribbean News Global)By Caribbean News Global
TORONTO, Canada – Marc Garneau, Secretary of State, spoke Monday with His Excellency Moussa Faki Mahamat, Chair of the African Union Commission (AUC); emphasized the strong leadership of the AUC in responding to the COVID-19 crisis and reiterated Canada’s commitment to work with African partners to ensure that our response and recovery from this crisis best meets specific needs of African countries, according to a readout from Global Affairs Canada.
“Chairman Faki noted that the AUC welcomes cooperation with Canada in response to the pandemic and in support of peace and good governance in Africa. Minister Garneau reaffirmed Canada’s determination to work closely with the AUC, including through the upcoming Canada-African Union Commission’s high-level consultations. These consultations will serve as an opportunity to discuss shared priorities and opportunities for further cooperation.”
The read continued: “Minister Garneau also expressed deep concern about the political and humanitarian crisis in Tigray, Ethiopia. It stressed the importance of humanitarian aid reaching those in need, requiring cooperation from all parties to the conflict, as well as their commitment to fulfilling their obligations under international humanitarian law, and welcomed the investigation of the African Commission for human and peoples’ rights to human rights violations in Tigray and reiterated calls for African-led solutions to the crisis.”
“The Minister and the Chairman also discussed their concerns about the situation in Chad and the need for an ongoing inclusive dialogue between the parties,” said a Global Affairs Canada report. “Minister Garneau and Chairman Faki agreed to continue working together on the common goal of an integrated, prosperous and peaceful Africa.”
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(MENAFN) Yana Toom, a member of the Estonian Center Party in the European Parliament, said on Thursday that the decision by the Estonian government to forbid Russians with Schengen visas issued by the Baltic nation from entering the country makes Tallinn appear "a little weak-minded."
Visiting Europe is "a privilege, not a human right," according to Estonian Prime Minister Kaja Kallas, who called on the EU to forbid Russians from receiving Schengen visas as part of sanctions against Russia for its offensive in Ukraine.
Tallinn announced on Thursday that beginning the following week, it would bar Russian nationals with Schengen visas from the Baltic state. Toom referred to the action as "absurd" in an interview with Russian-language television channel ETV+.
The MEP explained that Tallinn's only option is to effectively invalidate its own visas because Estonia "cannot make decisions for the entire Schengen area" and lacks the authority to impose travel restrictions on Russians who were granted visas by other Schengen nations.
“I think we look a little weak-minded in this, but nevertheless this is the idea,” the MEP stated.
She claimed that the Estonian government is currently attempting "to push through the European Council" the notion of a complete Schengen exclusion for Russia, but "the idea is not pushable."
“Because there is a legislative definition of the sanction’s regime, it has goals, stated goals, such as to maintain or restore peace, maintain democracy, and so on, I just can’t figure out in my small head how a ban on entry for Russians will restore peace in Ukraine. It just doesn’t fit in my head,” Toom claimed.
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(MENAFN- The Peninsula) AFP
Mumbai: Superstar Shah Rukh Khan's new film 'Pathaan' has smashed Indian box office records following its release last week, bringing hope to Bollywood after a spate of weak showings.
'Pathaan' recorded the highest-ever box office collections for a Hindi film for its opening and second day in India, and raked in 2.5 billion rupees ($30 million) in its first five days, trade analyst Taran Adarsh tweeted Sunday. Read Also
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Its international ticket sales soared past one billion rupees ($13.7 million) in just three days, according to Yash Raj Films, which produced the movie.
It comes after glitzy Hindi-language Bollywood films struggled at the box office following the reopening of Indian cinemas about a year ago after a pandemic hiatus.
'The unprecedented celebratory success of 'Pathaan' I think speaks volumes about where we are headed as the Hindi movie industry,' movie theatre chain owner Akshaye Rathi told AFP on Monday.
'Here we are back to the old school way of celebrating cinema in theatres as a community viewing experience.'
The release of 'Pathaan', 57-year-old Khan's first movie in four years, had been highly anticipated.
Khan, popularly known as 'King Khan', has a huge fan following around the world. The film also features Bollywood heart-throb Deepika Padukone and action hero John Abraham.
Videos shared on social media showed fans in Indian cinemas dancing and cheering during the film.
Last year, films from southern India, such as Telugu-language 'RRR', dominated box office takings.
'RRR' has also been feted internationally, winning a Golden Globe for best song and scoring an Oscar nomination in the same category.
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(MENAFN- KNN India) Kochi, Apr 4 (KNN) As the festive season commences, the handloom sector in Kerala is confronting multiple challenges that threaten to dampen sales.
Simultaneously, an increasing number of skilled weavers are abandoning the trade for more stable jobs and higher wages elsewhere.
However, amid these difficulties, a silver lining emerges in the form of heightened visibility and demand for authentic handloom products, aided by the current heatwave that has driven consumer preference toward 100 per cent cotton garments, according to T.S. Baby of a North Paravur Handloom Society.
Baby cited the 5 per cent Goods and Services Tax (GST) levied on societies with annual sales exceeding Ra 1.5 crore as a major hindrance to the handloom business. He stated that the sector has received little support from the Central government despite repeated appeals for assistance.
Societies with sales below Rs 20 lakh are exempt from the GST, he added, underscoring the need for substantial support to preserve the tradition and retain skilled weavers.
The convergence of Ramzan and Vishu festivals has provided a temporary boost, allowing buyers and cooperatives to extend discounted sales for 13 days, bolstered by a 20 per cent government subsidy – a brief window of opportunity amidst the challenges.
Nevertheless, a representative from a prominent Chendamangalam handloom society cautioned that people might face cash constraints during the festive period, potentially dampening purchasing power, though election preparations have yet to significantly impact the market.
Baby revealed that the society encompasses approximately 140 weavers and 20 allied workers, but weavers increasingly seek alternative income sources, leading to a steady exodus from the sector.
Compounding matters, yarn prices have nearly doubled since the COVID-19 outbreak, with weavers in Kerala heavily reliant on imports from other states, adding to the sector's financial strain.
While the open market operations sustain the handloom industry, the State government's school uniform program has also provided a lifeline, with weavers in Ernakulam producing around 30,000 meters of uniform material.
However, the threat of counterfeit handloom products persists, posing a serious challenge to genuine handwoven material despite periodic crackdowns by authorities.
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(MENAFN- Gulf Times)
The Investment and Trade Court signed two memorandums of understanding with the Qatari Association of Certified Public Accountants (QCPA) and Qatar Society of Engineers (QSE) separately, in the framework of developing the accounting and engineering expertise of the Court.
The two memoranda were signed by managing director of the Investment and Trade Court Maryam Sultan Khalifa al-Rabban, and on the part of the QCPA Dr Hashim al-Sayed, and Engineer Khalid al-Nasser on the part of the QSE.
The Investment and Trade Court said that the signing of the two MoUs came in the framework of its efforts to develop the mechanism of using Qatari experts and capacities in the fields of judicial expertise to provide technical and specialised reports in the accounting and engineering fields in the cases that the court specialises in to contribute to ensure prompt justice and speedy execution of judicial expertise orders.
The two MoUs confirm that the QCPA and QSE, at the request of the court, will submit expertise reports in the relevant fields, based on the law establishing the Investment and Trade Court No 21 of 2021, as well as clarify what has been accomplished and indicate any obstacles, if any, that require the intervention of the Investment and Trade Court to resolve them.
Chairman of the Investment and Trade Court Judge Khalid bin Ali al-Obaidli said the signing of the two MoUs aims to co-operate and support the quality and accuracy of the Court's litigation procedures and ensure the progress of the litigation process within the standard target time, pointing out that the Court's law granted it the right to use experts even if they are not restricted in the schedule of experts stipulated by the law of expertise at the Ministry of Justice.
Al-Obaidli, in a statement to Qatar News Agency (QNA), added that the law stipulates that the expert who issued the expertise report is not required to be one of those enrolled in the experts' table in accordance with Law No 16 of 2017, which is the same as Article (27) of the law of the Investment and Trade Court No 21 of 2021.
He stressed that these two MoUs agreed to assign the mechanism of expertise and distribute the work according to the specialisation of these associations, and it was also agreed that these reports should be at the highest level of accuracy and professionalism to help resolve commercial disputes as well as complete these reports as soon as possible.
In the same context, Mariam al-Rabban highlighted that the two MoUs provide a good opportunity for the Court to use experts and specialists regarding technical aspects related to investment and trade, such as accounting and engineering, adding that these MoUs serve the Court, litigants and associations with which they were signed.
For his part, QCPA president Dr Hashim al-Sayed said that the signing of this MoUs came with the aim of supporting the quality, accuracy, objectivity and professionalism of the decisions taken by the Court, pointing out that the Investment and Trade Court has a vision to improve performance and speed of completion, which are the main pillars on which the memoranda were built.
QSE chairman Engineer Khalid al-Nasser reiterated that the Society will seek to support the court's reports related to engineering and will develop the performance provided to the court in terms of the quality and professionalism of the reports.
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(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power and Energy in the Middle East Outlook, 2023" -
Russia's war on Ukraine has unlocked unprecedented growth opportunities for the Middle East as Europe steers away from Russia for energy supply.
The European Union's commitment to end its reliance on Russian energy by 2027 and its focus on renewables and hydrogen offer ME countries a strong business case for energy investments, given that the region has recorded among the lowest levelized cost of energy (LCOE) in renewable power production globally.
Also, climate change commitments and economic diversification efforts to transform Gulf Corporation Council (GCC) countries into industrialized economies will drive power and energy investments.
This report covers the ME's growth environment for the energy and power industry, highlighting trends throughout the value chain and discussing certain developments that impact the industry.
Forecasts and analyses rely on 2030 country-specific targets, unveiled power projects (or those in progress), and Frost & Sullivan's calculations of the energy generation necessary to fulfill a country's demand for electricity.
The forecast period's (2023–2030) total achievable revenue denotes the market potential for all industry participants.With capacity additions happening at an accelerated pace, easy access to financing for renewable projects, and several incentives earmarked to attract foreign investments, this is a market that requires strategic partnerships and critical local market knowledge-both as a legal requirement and as a critical factor determining success.
Read the full report:
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
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India - UK woman sues mother's doctor for being born wins millions
Toombes initiated the 'wrongful conception' damages claim against Dr. Philip Mitchell as she suffers from spina bifida and sometimes spends 24 hours a day connected to tubes. Here are more details.
Takeaways Why does this story matter?
The UK High Court's ruling is considered ground-breaking as it holds health professionals liable for negligence in pre-conception advice. It sets a precedent that health professionals are legally liable to patients for any negligence which may result in the birth of a child with serious health conditions. Spina bifida is associated with damage to the spinal cord and nerves, which may cause severe disabilities.
Details Doctor didn't give proper advice: Toombes
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(MENAFN- AzerNews) The European Commission on Friday announced 60 million euros in
budget support for Tunisia and a package of operational assistance
on migration worth 67 million euros in support of the
implementation of the memorandum of understanding between the EU
and the north African country, Azernews reports,
This first package of assistance, which will be contracted and
delivered "quickly", is based on close cooperation with Tunis in
the fight against illegal trafficking networks, according to
Commission spokeswoman Ana Pisonero.
Italy played an instrumental role in pushing through the
memorandum of understanding between the EU and Tunisia on stemming
migrant flows in exchange for funding, which was sealed in mid-July
during a visit to Tunis by EC chief Ursula von der Leyen, Premier
Giorgia Meloni and Dutch PM Mark Rutte.
However, early this week there were reports it may have been put
on ice amid opposition from some in Brussels including High
Representative for Foreign Affairs and Security Policy Josep
Borrell and the Socialist bloc amid claims that Tunisia is not a
safe enough country to negotiate with.
The European Commission "is accelerating both ongoing programmes
and actions under the assistance" linked to the memorandum of
understanding, Pisonero explained.
"These will help us to address the current urgent situation in
Lampedusa, in line also with the 10-point plan" on migration
announced by Commission President Ursula Von Der Leyen during her
visit to the tiny Sicilian island of Lampedusa last Sunday, she
The EU is "committed to advancing the implementation of the
memorandum by prioritising, in the field of migration cooperation,
the crackdown on trafficking networks and intensifying EU
assistance for capacity building of Tunisian law enforcement
authorities, as well as support for voluntary returns and the
reintegration of migrants into their countries of origin," Pisonero
The memorandum of understanding between the EU and Tunisia
covers five main pillars: macro-economic stability, trade and
investment, green energy transition, people-to people contacts, and
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JD Rallied, Sea Slumped: What Happened
Chinese e-commerce firm JD (JD) and Singapore-based gaming and e-commerce firm Sea (SE) are two divergent tales. JD initially rallied to $29 before backing down. Sea stock sold off after its earnings report.
JD reported Q3 non-GAAP EPADS of $0.92. Revenue barely grew, up by 1.7% Y/Y to $34 billion. The firm has over $34 billion in cash on its balance sheet. This is close to its market capitalization of ~ $38 billion. It has the chance to accelerate its $5 billion buyback to take advantage of its low stock price.
JD's FCF yield is too good to ignore. Investors who are willing to get exposure to the US/China geopolitical risks and the country's weak economy may still consider JD stock.
Sea slumped from over $45 to below $38 last week. It posted a loss in Q3 of $143.99 million, compared to losing $569.3 million last year. Its e-commerce platform Shopee, however, posted a net income of $331 million. Competition from Alibaba (BABA) and TikTok, owned by ByteDance (BDNCE) is a headwind to its operations across Southeast Asia.
Indonesia banned TikTok in Oct. The positive impact has yet to show up in its results.
JD and SE stocks are high-risk out-of-favor stocks worth watching closely.
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(MENAFN- The Peninsula) Doha: MES Indian School bagged the overall championship at the 'Interschool Dance and Music Video Contest' organised recently by Birla Public School.
The competitions were held in western music, patriotic song, western dance and classical dance for different categories such as sub-junior, junior, intermediate, and senior. MES participated in all 14 events and won prizes in nine items.
Aaesha Fathima Basheer of Class V and Eshaal Abdul Saleem of Class X won first prizes in Classical Dance junior category and Western Dance Senior Category respectively. Sohan Sandeep of Class II (Dance Sub Junior category), Parvathi Krishna of Class V (Western Dance Junior category), Prarthana Shaju Nair of Class VIII (Classical Dance Intermediate category) and Arundhathi Gopikrishnan of Class X (Classical Dance, senior category) secured second prizes.
Anna Lorance of Class V, Krishnabala Das of Class IX, and Bharathi Prathyuksh of Class VIII won third prize each in Patriotic song (Junior), Western Music and Senior Western Dance Intermediate categories respectively.
Anwar V.P, Kavitha, Sivgowri, Seema and Rajani S.N (Department of Fine Arts), trained the students for the contest. Anver K and Sumitha Abdul Naser were the coordinators from MES Indian School.
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(MENAFN- Bangladesh Monitor)
Dhaka : After a decade, another carrier, besides Biman Bangladesh Airlines and Saudi Arabian Airlines, has been permitted to carry Bangladeshi hajj pilgrims to and from the kingdom.
Saudi Arabian budget carrier Flynas received the go-ahead to transport Bangladeshi hajj pilgrims from the Civil Aviation Authority of Bangladesh in a letter on May 6.
However, experts are skeptical whether the new move would end the duopoly of Biman and Saudia which they have been enjoying for a decade now in carrying hajj pilgrims.
Hajj Agencies Association of Bangladesh (HAAB), a platform of over 1,500 hajj agencies, had long been demanding that more airlines be allowed as the current system was costing the pilgrims higher airfares.
Since then, the two airlines have been enjoying the duopoly, charging pilgrims high airfares, said M Shahadat Hossain Taslim, President of HAAB.
However, by allowing a budget carrier like Flynas which does not have a 'base' in Bangladesh does not necessarily solve the problem, expressed aviation experts of the country.
It may be mentioned here, earlier, Flynas did carry hajj pilgrims to and from Bangladesh. However, due to poor ground handling and passenger services, pilgrims' sufferings knew no bounds.
The low-cost airline also charged the same amount of airfare as the other two legacy carriers Biman and Saudia.
Eventually, due to the aforementioned reasons, the airline received poor reception from pilgrims. Hence, Flynas stopped operating hajj flights, leaving the market to Biman and Saudia.
There is hardly any reason to believe the situation will be any different this time, according to aviation stakeholders.
Experts are worried that history might repeat itself. The low-cost airline Flynas, without a base in Bangladesh, might again fail to ensure proper passenger services to the pilgrims.
Instead, the government should allow a legacy carrier which has a base in Bangladesh and has been operating regular flights to and from the country, to actually make the hajj flight segment more competitive and end the duopoly of Biman and Saudia, urged experts.
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US agrees on EU cost cap agreement on Russian oil
(MENAFN) The White House on Friday received a USD60 a barrel EU price cap for Russian oil exported by sea.
“A price cap will help limit Mr. Putin's ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians,” National Security Council spokesman John Kirby informed journalists.
“So, we welcome the progress that our EU partners are making on this and I look forward to seeing whatever the final announcement is,” he also said.
The deal on the price cap came following days of intense talks by EU officials, and goals to hit Russia's incomes from oil exports and sales.
When asked regarding Biden’s comments on Thursday stating he was set to talk with Russian President Vladimir Putin about stopping the war in Ukraine, Kirby added Biden was not showing “now” is the time for discussions.
“Mr. Putin has shown no indication that he's willing to sit down and talk and to end this war,” Kirby said in the online press meeting.
“The President also said something yesterday and he says it a lot but I think it's worth revisiting. That the war could end today,” he further noted.
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(MENAFN- Investor Brand Network)
A new study carried out by orthopedic specialists has looked into the relationship between the use of marijuana and surgical outcomes. The specialists, who are associated with SUNY Downstate Health Sciences University, found that patients with a history of marijuana use were less likely to experience unfavorable medical outcomes after a spinal fusion surgery, in comparison to nonusers.
The study's findings were published in the…
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(MENAFN- Gulf Times) Goods exchange between Qatar and Malaysia increased by 33.5% in the first seven months of 2021 despite the economic impact of the Covid-19 pandemic on international trade, an official of Malaysia External Trade Development Corporation (Matrade) has said.
From January to July 2021, both countries' trade volume stood at $345.06mn, registering a 33.5% growth compared to $258.48mn recorded in the same period in 2020, according to Matrade CEO Mohd Mustafa Abdul Aziz.
Abdul Aziz said Malaysia's major exports to Qatar include special-purpose ships, hot-rolled iron bars, food products, electrical appliances and electronics, electrical control boards, copper wire, furniture, and jewellery.
Conversely, the main products that Malaysia imports from Qatar are refined petroleum, raw aluminium, ethylene polymers, raw zinc, and hydrogen, Abdul Aziz told Gulf Times in a statement.
Despite the challenges of the pandemic, Abdul Aziz stressed that Malaysia“regularly received” business enquiries from companies in Qatar. He said Matrade held discussions with these companies and connected Qatari firms“with the right potential partners in Malaysia.”
At the height of the pandemic, Abdul Aziz noted that Matrade took the necessary precautions by training staff on how to work and network properly and safely, and how to communicate remotely with individuals, corporations, and companies.
“Matrade has developed new business programmes to increase efficiency and accessibility to targeted markets using customised remote applications, advanced online communication tools, and virtual online events like the Malaysia International Halal Showcase (Mihas).
“Internally, we have emphasised on the management principles, which focuses on safety as a first priority and allow staff to work and communicate smoothly and regularly with all entities,” he explained.
He added:“Indeed, we have not found any difficulty in the application of our new programmes and procedures in Qatar because Malaysia and Qatar have common business aspects other than the developed business infrastructure and community in Qatar.”
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(MENAFN- The Peninsula) The Peninsula
Doha: The Ministry of Labour (MoL) yesterday hosted the 2nd GCC meeting to develop social protection systems for expatriate workers in the GCC countries, in the presence of representatives of the Ministry of Labour, the Executive Office of GCC Countries, and the International Labour Organization.
In Doha, a meeting took place to deliberate on suggestions for revamping the mechanisms of disbursing end-of-service benefits to expatriate workers.
The objective was to prepare and present these proposals to the esteemed Labour ministers of the GCC countries at their forthcoming gathering in the third quarter of this year.
The meeting's primary focus was to familiarize attendees with both Arab and international practices in broadening the scope of social protection systems for expatriate workers, encompassing initiatives such as savings and social protection funds.
“GCC countries are interested in developing laws and legislation for the protection of expatriate workers, indicating that developing the work environment in Qatar is a continuous approach that is in line with the National Vision 2030.,” Mohamed Hassan Al-Obaidly, Assistant Undersecretary at the Ministry of Labour (pictured) said.
Al Obaidly noted that the GCC countries are committed to the development approach in all fields, including the continuity in developing bilateral and Gulf relations with countries that send expatriate workers and strengthening these relations in paths of dialogue, including social protection measures.
Participants in the meeting, organized by the Executive Office of the Council of Ministers of Labour and Social Affairs in the Gulf Cooperation Council countries in cooperation with the Ministry of Labour and the International Labour Organization, included experts and specialists in the departments of protection of expatriate workers and labour disputes in the ministries of Labour in GCC countries.
Also in attendance were specialists in pension and insurance agencies and funds in addition to members of the expert group in the field of Labour and international relations in the GCC countries, as well as representatives of employers and workers.
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(MENAFN- Bangladesh Monitor)
The passengers of an Air India Express flight from Sharjah to Kochi and their relatives faced tense moments on Sunday evening after the flight reported a suspected hydraulic failure. An emergency was alerted at the Cochin International Airport at 8:04 pm after the Air India Express flight with 193 passengers and six crew detected a suspected hydraulic failure.
“Full emergency was declared at 2004 hours (8:04 pm),” said a communication from the Kochi airport. Everyone heaved a sigh of relief after the aircraft landed safely at 8:26 pm.“Aircraft landed safely at 2036 hours,” it said. The CIAL statement said there was no diversion of flights or runway blockage due to the incident.
This is the second emergency landing at Kochi airport in recent times. Last month, a SpiceJet flight from Jeddah (Saudi Arabia) bound for Kozhikode with 197 passengers, including six crew, onboard had an emergency landing at the Cochin International Airport on December 2 following hydraulic failure.
An emergency was declared in the airport at 6:29 pm after the SpiceJet-SG 036 flight, which was scheduled to land at Kozhikode airport, was diverted to Kochi. The Spicejet flight landed safely at 7.19 pm on the runway after an emergency landing situation.
3.12 pm: Air India Express IX-412 flight departs from Sharjah International Airport for Kochi
Hydraulic failure suspected
8.04 pm: Emergency declared at Cochin International Airport
Emergency withdrawn after flight lands safely.
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Exploring the Growth of the Electric Rickshaw Market in India
(MENAFN- P&S Intelligence) In India, the electric car revolution has already impacted people's lives. You might not have noticed because you reside in affluent areas, but little battery-powered "e-rickshaws" has become very popular. But this industry is mainly unstructured.
Factors including rising end-user affordability, cost advantages over auto rickshaws, higher everyday earnings than rickshaws, and increased manufacturer expenditures in the design and development of more effective and economical rickshaws are anticipated to benefit and raise the Indian electric rickshaw market.
India is the third-largest emitter of carbon dioxide globally, contributing around 6% of all fuel-related CO2 emissions worldwide. Therefore, to make expensive electric rickshaws accessible and displace their traditional counterparts, the Indian government emphasizes offering benefits through taxes and subsidies.
It's enough of that. The statistics reveal that there are more than a million e-rickshaws transporting people around India. If you travel quite a bit, you'll find that these little, rickety cars are more common towards the north. The plains' flatness and the pressing necessity for local transit account for some of this. And these little cars have already had a big economic impact.
Established global and Indian OEMs have recently expressed interest in the market due to the rising demand for these cars, particularly for last-mile connectivity.
The growing need for affordable mobility for first- and the last-mile connection is a key growth factor for electric rickshaw demand. The sharing of three-wheelers is an efficient and practical economic option for commuters. Electric rickshaws are frequently employed in cities around the nation for first- and last-mile connections since they have no exhaust emissions.
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Shenandoah County Officials Suspect Arson
Shenandoah County investigators are looking into two suspicious fires that occurred in the southwestern part of the county early Friday morning.
Dispatchers were alerted to the first fire at 2:35…
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(MENAFN- Jordan Times) UNITED NATIONS, United States — UN Secretary General Antonio Guterres on Monday strongly condemned missile attacks on Saudi Arabia from rebel-held territory in Yemen and said military escalation was not the solution to ending the three-year war.
Saudi forces on Sunday intercepted seven missiles fired by Yemen's Iran-backed Houthi rebels into Saudi Arabia, killing one person and wounding two others.
Guterres "strongly condemns the launch late yesterday of a series of missiles claimed by the Houthis toward cities in Saudi Arabia, including Riyadh, as he does consistently with all attacks against civilians", said a UN statement.
He called for "restraint amid mounting tensions and stresses that military escalation is not the solution."
The UN chief is due to meet Saudi Crown Prince Mohammed Bin Salman at UN headquarters on Tuesday to discuss Yemen.
The United Nations is making a fresh push for talks after Iran sent signals that it would be willing to help turn up the pressure on the Houthis to take part in negotiations, UN diplomats said.
New UN envoy Martin Griffiths was in the rebel-held capital Sanaa this week for talks on kick-starting the political process, following a first round of meetings in Riyadh.
About 10,000 Yemenis have been killed and 53,000 wounded since the coalition intervened in Yemen in March 2015.
On Sunday, the Houthis fired three missiles at Riyadh and four others at the southern cities of Khamis Mushait, Jizan and Najran.
The Saudi-led coalition said that the attacks all targeted populated areas.
The United Nations has said that Yemen is facing the world's worst humanitarian crisis, with 22.2 million people in need of aid, a growing risk of famine and a severe outbreak of cholera.
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(MENAFN- IANS) Patna, June 8 (IANS) After the under-construction bridge collapsed in Bihar's Bhagalpur on June 4, concerns are rising about a number of old bridges, some of which are British-era ones, including the 161-year-old Abdul Bari bridge in Bhojpur district.
The rail-cum-road bridge connects Patna district at Parev village and Koilwar of Bhojpur district on the Sone River. The Abdul Bari Pul was constructed in 1862.
Generally, the department of railways puts over 100-year-old bridges in the dangerous category list.
In 2015, some intellectuals of the region had written a letter to the then Union railway minister and brought into the notice its deterioration. However, no major initiative was taken except for minor rectifications and painting jobs.
The NHAI constructed a six lane road bridge parallel to this bridge to take the load of the Abdul Bari bridge. But, the Railways has done nothing on its part and more than six dozen trains cross over it every day at slow speed.
The Sone River is known for sand mining, which also takes place near the bridge, thus threatening the base of the pillars. Local villagers claim that a new rail bridge at this place is badly needed.
Besides, old Railways over-bridges in Kaimur district are also in deteriorating conditions. These are -- Durgavati-Karanpura , Mohania-Patna bridge, Mohania-Dadwa bridge and Kudra Lalpur bridge. Heavily loaded trucks frequently ply on these bridges despite the district administration having put up signboards on either side of the bridges.
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(MENAFN- Colombo Gazette) -126820" src="https://i0.wp.com/colombogazette.com/wp-content/uploads/2018/05/TBS-3-1.jpg?resize=316%2C211" alt="" width="316" height="211" srcset="https://i0.wp.com/colombogazette.com/wp-content/uploads/2018/05/TBS-3-1.jpg?w=1000 1000w, https://i2.wp.com/colombogazette.com/wp-content/uploads/2018/05/TBS-3-1.jpg?resize=960%2C644 960w" sizes="(max-width: 316px) 100vw, 316px" data-recalc-dims="1" />Iconic British Beauty brand The Body Shop, introduced its popular loyalty programme exclusively for customers in Sri Lanka.
At launch event at its Fairline building, Colpetty store, friends and fans of The Body Shop were introduced to the Love Your Body Program, the exciting and rewarding loyalty membership of the brand while being treated to the best of The Body Shop, New Launches, one-on-one skin care consultations and makeovers by trained beauty specialists and make up artists.
The Love Your Body program is an exciting journey for customers which they get to experience as soon as they sign up. From exciting reward points, earning opportunities and points redemptions to surprise gifts, The Body Shop's Love Your Body Program is the 1st of its kind by a beauty brand in Sri Lanka. Additionally, the membership program will allow access to exclusive member-only previews, and events as well as sneak peeks into new The Body Shop innovative, 100% vegetarian and animal cruelty free products.
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Driving Slowly In Fast Lane? Pay A Fine
(MENAFN- Gulf Times)
Slow driving in the fast lane is a traffic violation that attracts a fine of QR500, a senior General Directorate of Traffic official said. Lt-Col Jaber Mohamed Odaiba, assistant director of the Traffic Awareness Department at the General Directorate of Traffic, told Qatar TV that driving a car at a speed lower than the prescribed speed on highways is a traffic violation.
The left-most lane is considered the fast track and motorists using it are not supposed to drive below a certain speed.
“If the vehicle is driven slowly in this lane without giving way to other vehicles, it's a violation of Article 53 of the Traffic Law,” he said, noting that the fine for the violation starts from QR500 and goes up depending on the type of violation committed and the speeds specified on a particular road.
“Each street has its own specifications and nature. The law doesn't favour slow speeds or fast speeds. It asks people to adhere to the prescribed speed on each road,” he added.
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Listing how Lindsey Graham was given his ‘sponsor of terrorism’ name
(MENAFN) In a compelling examination of the outspoken United States Senator Lindsey Graham, this article delves into the controversial statements that have earned him the label of a 'sponsor of terrorism.' The piece navigates through Graham's bold remarks, drawing attention to instances where he has advocated for military actions that some argue may exacerbate tensions and contribute to instability on the global stage.
The article opens with a thought-provoking game that challenges readers to distinguish between statements made by notorious terrorists and those uttered by Senator Lindsey Graham. As the game unfolds, it sets the stage for a critical analysis of Graham's hawkish stance on various international issues.
Highlighted in the article are Graham's calls for military intervention in countries such as Iran, Libya, and North Korea, along with provocative suggestions like contemplating the removal of Russian President Vladimir Putin. Each statement is dissected to provide context, examining the potential implications of Graham's advocacy and its alignment with broader geopolitical strategies.
The piece also explores the international criticism Graham has faced, including the 'sponsor of terrorism' designation. The article scrutinizes the senator's responses to these critiques, including his willingness to submit to the jurisdiction of the International Criminal Court.
Ultimately, this comprehensive exploration aims to shed light on Lindsey Graham's controversial rhetoric, offering readers a nuanced understanding of the senator's approach to foreign policy and the consequential debates surrounding his statements.
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Ford Hikes Price Of Electric F-150 Pick-Up Truck
The Ford Motor Company (F) is raising the starting price of its 2023 electric F-150 Lightning
pick-up truck by $5,000 U.S. due to rising manufacturing costs.
The Detroit automaker said the new price of the 2023 Lightning Pro, which is the entry-level
model of the F-150 truck, will be $51,974 U.S., up nearly 11% from pricing set earlier this year
and a 30% increase from the original price of $39,974 U.S. that was set in May 2021.
Prices for the electric F-150 pick-up truck are expected to rise by a similar amount in percentage
terms within Canada.
In a written statement, Ford said it is lifting the price of the electric F-150 because of ongoing
supply chain constraints and rising material costs that have made it more expensive to
manufacture the truck.
However, Ford added that current retail order holders and commercial and government
customers with a scheduled order already on the books will not be affected by the price
Ford has estimated that cost increases and supply chain issues could result in $1 billion U.S. of
unexpected costs during this year's third quarter.
This is the second time in two months that Ford has raised the price of the electric F-150 truck.
In September, Ford announced price increases between $6,000 U.S. and $8,500 U.S. on the
various Lightning models.
The prices for the 2023 F-150 Lightning will now range from $52,000 U.S. to $97,000 U.S., said
The F-150 pick-up truck has consistently been among the bestselling vehicles in North America
since 1976, according to industry data.
Ford stock is down 43% this year at $12.51 U.S. per share.
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(MENAFN- Khaama Press)
The United States has once again vetoed a draft resolution in the United Nations Security Council concerning Israel's conflict with Gaza, preventing the adoption of a call for an immediate ceasefire between Israel and Hamas.
This is the third time that the U.S. has vetoed a resolution on Gaza despite growing global pleas for a ceasefire amidst worsening conditions in the region.
Arab nations, led by Algeria, brought the draft resolution to a vote on Tuesday, expecting its failure as the US, a key ally of Israel, had signaled its opposition and proposed an alternative draft.
The United States stood alone in voting against the draft text, while the United Kingdom chose to abstain. The remaining 13 member countries of the UN Security Council voted in favor of the resolution, which called for an end to the conflict that has claimed over 29,000 lives in Gaza, as reported by Palestinian authorities, and displaced more than 80 percent of the population.
To pass in the UN Security Council, a resolution needs at least nine votes in favor and no vetoes from any of the five permanent members: the US, UK, France, Russia, or China.
Algeria's ambassador to the UN, Amar Bendjama, emphasized the urgency of the situation in Gaza while introducing the resolution on Tuesday.
He argued that the Council cannot remain passive in the face of unfolding events and that silence is not an acceptable response. According to Bendjama, the resolution represents a stance for truth and humanity, opposing violence and collective punishment inflicted on Palestinians.
On Monday, the US announced it put forth a different resolution suggesting a temporary ceasefire and rejecting a large-scale ground attack by Israel in Rafah.
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(MENAFN- Kuwait News Agency (KUNA)) NEW DELHI, March 11 (KUNA) -- India on Sunday hosted the first International Solar Alliance (ISA) conference in New Delhi to explore ways of enhancing international cooperation in producing sustainable and clean energy.
The Indian government, in a document named 'Delhi Solar Agenda,' said the founding conference, co-chaired by Prime Minister Narendra Modi and visiting French President Emmanuel Macron with the participation of more than 120 representatives, expressed commitment of founding states to a clean and healthy world for the current generation and beyond, rooted in sustainable lifestyles.
Leaders from the member countries, who welcomed the location of the ISA Secretariat in India, recognized combating climate change as a common priority for humankind.
They urged the global community to ensure universal access to affordable, reliable, sustainable and modern energy services in order to reduce the effect of climate change.
The conference also underlined that solar energy is an alternative which offers a clean and climate friendly source, capable of ensuring energy security to the people of member states and better their lives.
The document also stressed eradication of poverty in all its forms as outlined in the 2030 Agenda for Sustainable Development and pledged their commitment to it. They members reiterated their vision of transforming the world so technological development and applications would be climate-sensitive and would respect the existing biodiversity.
The conference also recognized "the New Urban Agenda's commitment to promoting environmental sustainability through promoting clean energy." The conference also opined that the ISA is capable of realizing sustainability through "growth, enhancing skills, creating jobs, unleashing entrepreneurship, fostering innovation and increasing incomes." The member states in the Alliance also pledged to "facilitate affordable finance, access to appropriate, clean and environment friendly technology and undertake capacity building, including forging mutually beneficial partnerships with reputable international institutions and reputable financial institutions for the benefit of developing countries." The Alliance also promised to find innovative financing mechanisms capable of building market for cost effective solar technologies along with positive policy initiatives to prompt public and private investments to bring down solar project expenses in developing countries.
It also welcomed efforts to conduct joint research and development project among member states to develop appropriate business models, cost effective standards and innovative technical applications.
Following the Paris Conference, Indian Prime Minister Modi along with the then French President Francois Hollande announced plans to form the International Solar Alliance in order to ensure clean and affordable energy to all.
Thirty-two countries including India, France, Australia, Bangladesh, Sudan, Sri Lanka, the UAE and Venezuela have already signed and ratified the ISA agreement while 30 countries including Algeria, Brazil, Egypt, Nigeria and Yemen have signed but not ratified the same. (end) atk.bs
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(MENAFN) Major Asian stock markets ended Friday with gains as the sentiment recovered due to governmental and institutional aids to avoid a potential banking crisis. This follows the announcement of Zurich-based lender Credit Suisse receiving up to 50 billion Swiss francs (USD54 billion) from the Swiss National Bank on early Thursday, while America's largest lenders announced a USD30 billion lifeline for First Republic Bank, facing a possible cash crunch. These measures have helped to ease concerns of a banking crisis and have boosted the market sentiment.
The risk appetite in the market waned earlier this week due to worries about the spillover effect of the collapse of Silicon Valley Bank and Signature Bank within days. This turmoil in the global banking sector fueled expectations that major central banks would ease policy tightening to stem a recession.
The Asia Dow, which includes blue-chip companies in the region, rose 1.48 percent to 3,267.85, while Tokyo's Nikkei 225 stock exchange gained 1.20 percent to close at 27,333.79. The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, enjoyed the largest hike on Friday, diving 1.64 percent to 19,518.59 points. China's Shanghai stock exchange increased 0.73 percent from the previous close to 3,250.55 points.
The People's Bank of China also lowered the reserve requirement ratio for financial institutions by 25 basis points on Thursday, with immediate effect, which may help to stimulate lending and boost economic growth. The Singapore benchmark index rose 0.88 percent to 3,183.28 points, while the Indian Sensex benchmark went up by 0.62 percent to 57,989.90.
Overall, the measures taken by major lenders and central banks have helped to ease concerns of a potential banking crisis and have boosted the sentiment in the Asian stock markets. However, concerns about the global economic outlook and the potential spillover effects of banking sector turmoil may continue to weigh on the market in the coming weeks.
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(MENAFN) Saudi Basic Industries Corp., commonly known as SABIC, has appointed Abdulrahman Al-Fageeh as its new CEO effective from March 21, 2023. Al-Fageeh has been serving as the acting CEO of SABIC since Yousef Abdullah Al-Benyan's departure in September 2022.
The board of directors made the decision to appoint Al-Fageeh as CEO, as per a regulatory filing on the Saudi stock exchange. In the statement, SABIC noted that Al-Fageeh is currently the chairman of SABIC Agri-Nutrients Co. and the Nusaned Investment Co. He also serves as the Chairman of the Gulf Petrochemicals and Chemicals Association and the Petrochemical Manufacturers Committee.
Moreover, Al-Fageeh is a board member of the Royal Commission for Jubail and Yanbu and the Saudi General Authority of Foreign Trade. His appointment as CEO of SABIC comes just a few days after the company reported a 13 percent rise in total revenue to SR198.47 billion (USD52.88 billion) in 2022, up from the SR174.88 billion recorded in 2021. However, the company's net profit fell by 28.35 percent to SR16.53 billion in 2022, due to a lower profit margin amid rising distribution costs.
Despite these challenging market conditions, Al-Fageeh stated that SABIC's 2022 results remained strong, with sales volumes growing by 9 percent and driven by growth projects, improved reliability, inventory optimization, and synergies with Saudi Aramco. He also mentioned that SABIC Agri-Nutrients reported a net profit of SR10.03 billion in 2022, registering 92 percent year-on-year growth, driven by higher average selling prices and sales volumes.
As the new CEO of SABIC, Al-Fageeh will be responsible for leading the company's efforts to expand its product portfolio and enhance its market position globally. His experience in various leadership roles within the company and other industry organizations will be valuable in driving SABIC's growth strategy and achieving its business objectives. SABIC is one of the world's largest producers of petrochemicals, chemicals, and plastics, and has a significant presence in numerous markets worldwide. With Al-Fageeh at the helm, the company is likely to continue its growth trajectory and strengthen its position as a leading player in the industry.
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Workday Hikes on Earnings Beat
Workday (NASDAQ:WDAY) jumped Friday after topping first-quarter expectations on the top and bottom lines. The financial management software firm also named a new chief financial officer, Zane Rowe, and raised the low end of its full year subscription revenue guidance.
Total revenues were $1.68 billion, an increase of 17.4% from the first quarter of fiscal 2023. Subscription revenues were $1.53 billion, an increase of 20.1% from the same period last year.
Operating loss was $19.8 million, or negative 1.2% of revenues, compared to an operating loss of $72.8 million, or negative 5.1% of revenues, in the same period last year. Non-GAAP operating income for the first quarter was $395.9 million, or 23.5% of revenues, compared to a non-GAAP operating income of $288.6 million, or 20.1% of revenues, in the same period last year.
Net income per share was zero, compared to basic and diluted net loss per share of $0.41 in the first quarter of fiscal 2023. Non-GAAP basic and diluted net income per share was $1.32 and $1.31, respectively, compared to non-GAAP basic and diluted net income per share of $0.86 and $0.83, respectively, in the same period last year.
Operating cash flows were $277.3 million compared to $439.7 million in the prior year. Cash, cash equivalents, and marketable securities were $6.33 billion as of April 30, 2023.
WDAY shares galloped $21.11, or 10.8%, to $217.52.
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Saudi air force intercepts ballistic missile from Yemen
(MENAFN- Kuwait News Agency (KUNA)) RIYADH, May 19 (KUNA) -- The Saudi Royal Air Defense on Saturday destroyed a ballistic missile fired from Yemen on southern Saudi Arabia, Command of the Saudi-led Coalition Supporting Legitimacy in Yemen said.
Coalition spokesman Colonel Turki Al-Maliki said in a statement, relayed by the Saudi Press Agency (SPA), that at 18:14 local time (15:14 GMT) the Saudi Royal Air Defense intercepted and destroyed a ballistic missile fired by the Iran-backed "terrorist" Houthi militia from Yemen's Saada governorate.
Another missile fell on an uninhabited desert area, and no damage or casualties were reported, Al-Maliki said. The two missiles were targeting southern Saudi city of Khamis Mushait.
He stressed that both deliberately targeted populated areas.
This hostile action by the Houthi militia supported by Iran proves the continued involvement of the Iranian regime in providing the Houthi armed militia with qualitative capabilities in clear and explicit defiance of the UN resolution 2216 and resolution 2231 in order to threaten the security of Saudi Arabia and threaten regional and international security, the spokesman said.
"Launching ballistic missiles towards densely populated cities and villages runs counter to the international humanitarian law," he noted. (end) mdm.msa
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