World

Billionaire Fredriksen names Svelland head of holding firm Seatankers
30Aug By Desk TeamNo Comments
Market, World

Billionaire Fredriksen names Svelland head of holding firm Seatankers

Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family's key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming and finance. OSLO: Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family's key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming and finance. Fredriksen, 76, said Tor Andre Svelland, 53, will become chief executive of Seatankers Group, top shareholder of world number one salmon producer Mowi , tanker firm Frontline and offshore driller Seadrill . Seatankers also controls dry bulk shipper Golden Ocean and real estate firm Norwegian Property , as well as Fredriks...
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Cycling: Roglic fires Bernal Tour warning with Ain win
29Aug By Desk TeamNo Comments
World

Cycling: Roglic fires Bernal Tour warning with Ain win

LELEX: Primoz Roglic edged Tour de France holder Egan Bernal in a tight finish to clinch the second stage of the Tour de l'Ain on Saturday (Aug 8) exactly three weeks ahead of the start of this year's 'Grand Boucle'. Jumbo-Visma's Roglic, who won last year's Vuelta a Espana, also took the overall leader's jersey to press home his claims for the Tour which begins on Aug 29. Roglic paid tribute to his team-mates including Steven Kruijswijk, George Bennett and Tom Dumoulin, who all finished within the top 25. "It was a perfect day. The whole team did a really great job and I was super happy that I could finish it off," Roglic said. "It was definitely nice to see that other guys are also strong. We are here to find the right feelings and we are concentrating on that," the 30-year-old a...
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Indonesian teachers warn of new coronavirus clusters as schools reopen
29Aug By Desk TeamNo Comments
World

Indonesian teachers warn of new coronavirus clusters as schools reopen

JAKARTA: Indonesia's move to reopen schools in some areas risks creating new clusters of coronavirus cases, with at least 180 students and teachers infected since a new academic year started in July, a teachers' federation said on Thursday (Aug 13). The world's fourth-most populous country has allowed schools to reopen with limited capacity in "yellow" and "green" zones, with fewer reported cases and covering 43 per cent of the student population, according to government data. Parents can opt not to send their children to schools in these areas and extracurricular activities are not allowed. Heru Purnomo, the secretary general of The Federation of Indonesian Teachers Associations (FSGI), said distance learning was still preferable. "We've always sounded out our worries that schools...
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Are second $1,200 stimulus checks coming? Here’s what we know
29Aug By Desk TeamNo Comments
World

Are second $1,200 stimulus checks coming? Here’s what we know

Capitol Hill has come to a standstill following heated discussions last week on what to include in the next coronavirus stimulus package. One thing they did seem to agree on was another set of $1,200 checks to Americans, similar to the payments that went out this spring. While Treasury Secretary Steven Mnuchin has said he wanted to start getting those second checks out this month, that seems more and more unlikely the longer that Congress fails to seal a deal. "What I would say to people is there is still a pretty good chance that you're going to get these payments," said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center. "But it's impossible to know when or how long it's going to take." Who could be included in the second $1,200 checks Both Senate Republicans and H...
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In China, fears of financial Iron Curtain as US tensions rise
29Aug By Desk TeamNo Comments
China, Market, Singapore, World

In China, fears of financial Iron Curtain as US tensions rise

SHANGHAI: A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system: A devastating prospect once considered far-fetched but now not impossible. Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China's huge US debt holdings. Those concerns have galvanised some in Beijing to revive calls to bolster the yuan's global clout as it looks to decrease reliance on the greenback. Some economists even float the idea of settling exports of China-made COVID-19 vaccines in yuan, and are looking to bypass dollar settl...
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Philippines reports 6,352 new COVID-19 cases, Southeast Asia’s biggest daily jump
29Aug By Desk TeamNo Comments
Asia, World

Philippines reports 6,352 new COVID-19 cases, Southeast Asia’s biggest daily jump

MANILA: The Philippines reported 6,352 new COVID-19 infections on Tuesday (Aug 4), marking the biggest daily jump in cases in Southeast Asia. Tuesday's figures represent the Philippines' fifth record rise in the past six days and takes the country's tally of cases to 112,593. COVID-19 deaths rose by 11 to 2,115. The Philippine capital and nearby provinces on Tuesday returned under strict lockdown for two weeks to arrest soaring cases since restrictions were relaxed in June. The government announced late on Sunday it was placing metro Manila and nearby provinces such as Laguna, Cavite, Rizal and Bulacan under so-called "Modified Enhanced Community Quarantine" until Aug 18. Philippine police deployed road blocks on Tuesday to enforce a tough new lockdown on about 28 million people in...
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US weekly jobless claims edge down to 1.19 million
29Aug By Desk TeamNo Comments
Market, World

US weekly jobless claims edge down to 1.19 million

WASHINGTON: The number of Americans seeking unemployment benefits fell last week, but remained significantly high, suggesting the labour market was stalling as the country battles a resurgence in new COVID-19 cases that is threatening a budding economic recovery. Initial claims for state unemployment benefits totalled a seasonally adjusted 1.186 million for the week ended Aug 1, compared to 1.435 million in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 1.415 million applications in the latest week. Coronavirus cases soared across the country last month, forcing authorities in some of the hard-hit areas in the West and South to either shut down businesses again or pause reopenings, sending workers back home again. Though infections ha...
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Vietnam condemns new Chinese military drills in South China Sea
28Aug By Desk TeamNo Comments
China, World

Vietnam condemns new Chinese military drills in South China Sea

HANOI: Vietnam on Wednesday (Aug 26) accused China of violating its sovereignty by conducting military drills in a disputed part of the South China Sea and said Beijing's actions were "complicating" negotiations on establishing a code of conduct in the region. China this week began six days of exercises in waters near the Paracel Islands, where Vietnam has competing claims, according to the Maritime Safety Administration of Hainan, an island off China's southern coast. It was the second set of drills in the area by Beijing in two months. "China's repeated military exercises in (the Paracel Islands) violate Vietnam's sovereignty, complicating negotiations for a Code of Conduct of Parties in the South China Sea between China and ASEAN," foreign ministry spokeswoman Le Thi Thu Hang said...
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Kuwait bans flights to 31 ‘high risk’ countries due to coronavirus
28Aug By Desk TeamNo Comments
World

Kuwait bans flights to 31 ‘high risk’ countries due to coronavirus

DUBAI: Kuwait has banned until further notice commercial flights to 31 countries it regards as high risk due to the spread of the coronavirus, the Directorate General of Civil Aviation said on Saturday (Aug 1). The countries include India, Pakistan, Egypt, the Philippines, Lebanon and Sri Lanka, which all have large numbers of expatriates in Kuwait. The list also includes China, Iran, Brazil, Mexico, Italy and Iraq. The ban was announced the same day that Kuwait began a partial resumption of commercial flights. The authorities have said Kuwait International Airport would run at about 30 per cent capacity from Saturday, gradually increasing in coming months. The health ministry also advised against all non-essential travel at the present time, government spokesman Tariq al-Muzaram sa...
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Pakistan FM Qureshi faces criticism for slamming Saudi Arabia over Kashmir
28Aug mmBy Mike TrudellNo Comments
World

Pakistan FM Qureshi faces criticism for slamming Saudi Arabia over Kashmir

Pakistan's Foreign Minister Shah Mehmood Qureshi is facing heat over his remarks against Saudi Arabia for refusing to interfere on Kashmir issue.The differences in their relations surfaced when Pakistan was made to pay back USD 1 billion to Saudi Arabia. This reflected the fact that Islamabad is gradually losing the support of other Muslim countries.Recently two Pakistani journalists -- Rauf Klasra and Amir Mateem -- held a discussion on the sudden policy shift of Saudi Arabia towards Pakistan."Sometimes Qureshi speaks emotionally. He gets carried away," Mateem said.“As Pakistan, which is in a financial crisis, is dependent on Saudi Arabia, Qureshi should have been cautious of making any statements”, he said, adding: "As we are very much dependent on Saudi Arabia, we should complain only t...
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