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Showing posts from March, 2022

Plane Carrying 132 Crashes In China, Causes Mountain Fire

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The jet involved in the accident was a Boeing 737 aircraft and the number of casualties was not immediately known, CCTV said. Rescue was on its way, it said. Beijing: A China Eastern passenger jet carrying 132 people crashed in southern China on Monday, aviation authorities said, with state media reporting it led to a fire on a mountain and the number of casualties unknown.  The Boeing 737 flight from Kunming city to the southern hub of Guangzhou "lost airborne contact over Wuzhou" city in the Guangxi region, the Civil Aviation Administration of China (CAAC) said in an online announcement. "At present, it has been confirmed that this flight has crashed," the CAAC said, adding that it had activated its emergency response and "dispatched a working group to the scene".  The plane was carrying 123 passengers and 9 flight crew members, the CAAC said. An earlier state media report had said there were 133 people on board. State broadcaster CCTV reported that ...

China: Boeing 737 plane carrying 133 crashes, casualties unknown

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The Boeing 737 plane crashed in the rural countryside near Wuzhou city, Guangxi region and 'caused a mountain fire', according to state broadcaster CCTV said, adding that rescue teams were dispatched to the scene A China Eastern Airlines aircraft on Monday carrying 133 passengers from Kunming to Guangzhou had an "accident" in the region of Guangxi and caused a fire on the mountains, Chinese state television reported. The jet involved in the accident was a Boeing 737 aircraft and the number of casualties was not immediately known, CCTV said. Rescue teams were dispatched to the scene. CCTV said a "China Eastern Airlines Boeing 737 plane carrying 133 people has crashed in Teng county, Wuzhou, Guangxi, and caused a mountain fire." The twin-engine, single aisle Boeing 737 is one of the world’s most popular planes for short and medium-haul flights. It was not immediately clear which variant of 737 was involved in the accident. China Eastern operates multiple versi...

Shyam Maheshwari Moves On To A New Innings From Ares SSG

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  BW Businessworld learns exclusively through its sources that Shyam Maheshwari , one of the founders of SSG Capital has decided to move on from the firm. We understand from our sources that he is likely to enter a new inning as an entrepreneur in the investment domain. Ares SSG has been synonymous with Shyam Maheshwari for many years through the key deals done by SSG Capital in the country, including through ACRE. BW Businessworld learns exclusively through its sources that Shyam Maheshwari , one of the founders of SSG Capital has decided to move on from the firm. We understand from our sources that he is likely to enter a new inning as an entrepreneur in the investment domain. BW Businessworld reached out to the firm which confirmed the development. “After over 12 years as a founder of SSG, Shyam Maheshwari in July 2021 decided to leave Ares SSG to dedicate more time to his family, especially his children, and pursue his interests in philanthropy and other personal interests”, ...

Russia-Ukraine war latest: European leaders travel to Kyiv after Russia shells apartments

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  At least two killed and dozens wounded in Ukraine’s capital The leaders of Poland, the Czech Republic and Slovenia travelled to Kyiv in support of Ukraine as the city came under shelling from Russian forces on Tuesday. A new wave of air strikes on residential areas in Kyiv killed at least two people on Tuesday, emergency services said, the morning after the US Pentagon said Russia’s ground offensive had largely “stalled” outside of the capital. More peace talks are planned between Moscow and Kyiv on Tuesday. Meanwhile, China has denied US claims that Russia has sought military assistance from Beijing , accusing Washington of spreading “malicious disinformation”. Eastern European leaders make surprise Kyiv trip The Polish prime minister and his Czech and Slovenian counterparts are making an unexpected trip to Kyiv by train on Tuesday to meet with Ukrainian President Volodymyr Zelenskyy and plan to announce a “broad package” of support measures for embattled Ukraine. Prime ...

Dewa to list 6.5% of shares on Dubai Financial Market

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  The utility is the first of 10 state-owned entities to issue an IPO on the bourse The Dubai Electricity and Water Authority will list 6.5 per cent of its shares on the Dubai Financial Market, as part of the emirate’s plan to double the size of its capital market . The utility is the first government entity to issue an initial public offering on the DFM and the listing will be carried out gradually due to its massive asset portfolio. Dewa will make 3.25 billion shares available in the offering, representing 6.5 per cent of its issued share capital, the company said on Tuesday. All the shares are existing shares being sold by the government of Dubai and the company will not receive any proceeds from the offering. “Today represents a significant moment in the history of Dewa and is an important step towards achieving our vision for capital markets in Dubai,” said Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. “As a central com...

Scott Hall death: celebrity tributes pour in as WWE wrestler dies at 63

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  The wrestler is best known for his time as Razor Ramon in the WWE and as part of the New World Order in the WCW Pro wrestler Scott Hall, best known for his time in WWE and WCW, has died aged 63 after complications from a hip-replacement surgery in which he suffered several heart attacks and had to be put on life support. Hall’s long-time friend and former tag team partner Kevin Nash first announced the news on Instagram on Monday, saying that there were plans to discontinue Hall’s life support once his family was in place. WWE later confirmed the news of his death that evening, with a statement as well as video tribute. “WWE is saddened to learn that two-time WWE Hall of Famer Scott Hall has passed away. WWE extends its condolences to Hall’s family, friends and fans,” said the company. Since then, a number of other tributes have been paid to Hall on social media, who was lovingly referred to as wrestling’s “Bad Guy” thanks to his character Razor Ramon. Other wrestling prom...

Dubai’s Bab Al Shams Desert Resort closing after 17 years for renovation

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  The Arabian-style retreat will undergo a complete transformation before its reopening in 2023 One of Dubai’s original desert hotels is closing its doors for a complete renovation. Bab Al Shams Desert Resort & Spa will close to the public in May, with bookings set to remain suspended until it reopens in 2023. During the seven-month closure, the desert resort will undergo a full renovation, with rooms, restaurants, public areas and facilities set to be upgraded. Fans of the popular resort keen to spend one final night at the low-rise retreat on the outskirts of the city have until May 7 to book a stay in the original Bab Al Shams Desert Resort & Spa. Surrounded by sand dunes and with endless desert views, the property has long been popular with travellers seeking an authentic desert experience in Dubai . The hotel first opened on UAE National Day in December 2004, more than 17 years ago. “We’ve had a lot of warm memories at Bab Al Shams with our guests and team membe...

UK unemployment falls below pre-pandemic rate but pay squeeze hits hard

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  Jobless rate down to 3.9% from 4.1% in previous quarter Britain’s unemployment rate fell below its pre-pandemic rate in the three months to January despite the Omicron wave of coronavirus, however wage growth was offset by soaring inflation and the biggest wage squeeze since 2014. Unemployment dropped to 3.9 per cent from 4.1 per cent, its lowest level since the three months to January 2020, according to the Office for National Statistics, while 275,000 were jobs added to the UK economy in February. “The labour market continues to recover from the effects of the pandemic, with the number of unemployed people falling below its pre-pandemic level for the first time and another strong rise in employees on payroll in February,” said ONS chief economist Grant Fitzner. “However, the number of people out of work and not looking for a job rose again, meaning total employment remained well below its pre-pandemic level.” Regular pay growth, which excludes bonuses, picked up to 3.8 pe...

Why Israel has dropped its 'nuclear option' in tackling Iran

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 Focusing on the ‘Day After’, Bennett is preparing to face down Tehran with Biden on his wing The deafening beat of war drums on the Russia-Ukraine frontier has been drowning out the more hushed cadence of negotiations in Vienna, where final touches were put reportedly to a refurbished nuclear deal with Iran, latest Russian impediments notwithstanding. Those talks, and the sustainability of any agreement reached, may depend on the next steps of two sovereign elephants not actually seated at the table: the US and Israel. (The Americans are being represented by the Europeans in Vienna, while Israel is not a party to the discussions.) Leadership changes in both countries may augur better prospects for a more effective posture vis-a-vis Iran — and for the future of US-Israel relations — than when the original JCPOA was signed seven years ago. Israeli Prime Minister Naftali Bennett is no less agitated by the parameters of the materialising bargain than was his predecessor, Benjamin Net...

State and citizenship will save Lebanon, not confessionalism

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 Upcoming elections are an important moment to reflect on what the country’s modern identity should be Lebanon, as we know it, no longer exists. We need as much clarity to fathom its collapse as we do to reimagine it otherwise. This certainly triggers some feelings of resignation, but it mostly requires a sense of commitment and hope. One in three children in Lebanon now goes to bed hungry. The collapse of the national currency is just one facet of one of the worst economic crises in modern history. The country’s future looks even bleaker, with so many Lebanese packing their bags and leaving — a massive exodus threatens the very existence of Lebanon and its ability to recover. This is all the more galling because Lebanon supposedly has a “liberal” economy. But that has long not been the case, severely damaging its productivity. The Lebanese economy hinders healthy competition and subordinates any growth to clientelism. It owes most of its growth to the disproportionate might of its...

Nazanin Zaghari-Ratcliffe: Lawyer ‘hopeful’ for good news soon

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  Talks are continuing to resolve an arms deal debt between UK and Iran that dates to the 1970s The lawyer of detained British-Iranian aid worker Nazanin Zaghari-Ratcliffe has said he is hopeful of good news soon, as Tehran and London press on with talks about a long-standing £400 million ($542m) debt. Ms Zaghari-Ratcliffe, 43, a project manager with the Thomson Reuters Foundation, was arrested at a Tehran airport in April 2016 and later convicted of plotting to overthrow the clerical establishment. When asked whether Ms Zaghari-Ratcliffe will be released, her lawyer Hojjat Kermani told Reuters: “I am hopeful that we will have good news soon.” Britain said last month that it was “continuing to explore options as a matter of urgency to resolve” the repayment of the debt. The families of Ms Zaghari-Ratcliffe and Anoosheh Ashoori, 67, a British dual-national held since 2017, say the debt is a critical issue in their continuing detention in Iran. Mr Ashoori , a retired engineer, r...

Binance gets first Gulf crypto licence from Bahrain

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  The world’s largest cryptocurrency exchange will be able to provide crypto-asset trading, custodial services and portfolio management to customers Binance, the world’s largest cryptocurrency exchange, has won regulatory approval from the Central Bank of Bahrain to operate as a crypto-asset service provider in the kingdom. This is the first licence for the crypto-asset provider in the GCC and is a “milestone in our journey to being fully licensed and regulated around the world”, said Changpeng Zhao, founder and chief executive of Binance. “I’m proud of the hard work … to meet the stringent criteria of the Central Bank of Bahrain, not just locally but globally by ensuring that we meet and exceed the requirements of regulators and protect users with strong anti-money laundering and counter-terrorism financing policies.” Binance, which was founded in China in 2017 and has its headquarters in the Cayman Islands and Seychelles, has faced increased scrutiny from regulators in the ...

International Criminal Court to issue ruling on allegations of genocide against Russia

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 The International Court of Justice announced on Monday that it would issue a ruling on Wednesday in the case regarding “Allegations of Genocide under the Convention on the Prevention and Punishment of the Crime of Genocide (Ukraine v. Russian Federation).” The court’s president, Judge Joan E. Donoghue, will deliver the order at 4 p.m. on Wednesday at the Peace Palace in The Hague, the court said in a statement. Due to the COVID-19 pandemic only members of the court and parties related to the case are permitted to be present at the hearing which will be livestreamed. Last week, the court held its first hearing in the case which Russian representatives skipped , a move Ukrainian envoy Anton Korynevych said “speaks loudly.” “They are not here in this court of law: they are on a battlefield waging an aggressive war against my country,” he added, calling upon Moscow to “lay down your arms and put forward your evidence.” In its application to the ICJ filed earlier this month, Ukraine sa...

Rajeev Jhawar, the crisis manager for Usha Martin

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  Rajeev Jhawar the Managing Director of Usha Martin Limited Usha Martin is known for making a wide range of wire rope products, which have applications across the world. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering. The outbreak of the corona virus pandemic globally and in India has caused significant disturbance and slowdown of economic activities. Usha Martin is one of the world’s leading manufacturers of wire rope. Established in the year 1960, today Usha Martin is a multi-unit and multi-product organization. The wire rope manufacturing facilities located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK produce one of the widest ranges of wire ropes in the world. The infrastructural facilities are equipped with the latest state-of-the-art high-capacity machines to manufacture world-clas...

Cameron Smith holds his nerve to win Players Championship and $3.6m

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  Australian cards final round six-under 66 to beat India’s Lahiri by one shot at TPC Sawgrass Cameron Smith survived a wild week and a rollercoaster final round to claim a one-shot victory over Anirban Lahiri at the Players Championship on Monday and collect the PGA Tour’s biggest payout, pocketing the winner’s cheque of $3.6 million. Two shots back of front-running Lahiri going into the weather-delayed final round, the 28-year-old Australian held his nerve when needed, carding a six-under 66 for a winning total of 13-under 275 to capture his second title of the season and fifth of his career. Lahiri closed with a 69, his disappointment eased by the $2.1 million second-place purse while Briton Paul Casey returned a final round 69 as well to finish two shots back alone in third. “I felt as though one of these big ones was the next step for me,” said Smith. “I’ve knocked on the door a few times and I just felt like it was my time. I hit a lot of quality golf shots and didn’t re...

'Ever Forward' runs aground in US one year after 'Ever Given' blocked Suez Canal

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  Container ship was stranded in Chesapeake Bay shortly after leaving Baltimore port on Sunday A massive container ship owned by the same company as the Ever Given has run aground in the US, officials said on Monday. The 334-metre Ever Forward ran aground in Chesapeake Bay shortly after leaving a Baltimore port on Sunday night, said Maryland Port Administration executive director William Doyle on Monday. The accident happened almost exactly a year after the 200,000-ton container ship MV Ever Given became wedged in the Suez Canal during a sandstorm, blocking the key waterway for six days. “There have been no injuries or spills,” Mr Doyle said. “The ship’s grounding is not preventing other ships from transiting to the Port of Baltimore.” Mr Doyle said efforts had been under way since Sunday night to free the stranded vessel, which was bound for Norfolk, Virginia, when the accident happened. Both vessels are owned by the Evergreen Marine Corp, which is based in Taiwan. The Su...