Ukrainian President Volodymyr Zelenskiy is set to attend the Arab League meeting in Saudi Arabia before travelling on to the G7 meeting in Hiroshima, Japan. He will be travelling on a French government plane from the Saudi city of Jeddah.
An Indian Supreme Court expert committee looking into allegations of regulatory failure regarding Adani Group’s share price manipulation has said it cannot come to a conclusion, according to court documents seen by Reuters. It also stated that India’s market regulator, the Securities and Exchange Board (SEBI), was unable to determine the ownership of parts of the group under review.
Pakistani police are due to search the home of former prime minister Imran Khan in Lahore after accusing his supporters of attacking and vandalising government and military buildings, according to Amir Mir, the information minister of Punjab province. The raid could lead to further violence in the country, which is currently tackling political and economic instability. Khan has denied accusations that he has sheltered those involved in the unrest.
A draft communique from the G7 group of rich nations, which met in Hiroshima, Japan last week, suggests that publicly supported investment in the gas sector may be “temporarily appropriate”. Such investment would be to help countries accelerate the process of phasing out dependency on Russian energy. This language, if adopted in the final version of the statement, would represent stronger support for gas investments in relation to the G7 ministerial meeting in April. G7 climate ministers eventually agreed at this meeting that gas investment could be used to address “potential market shortfalls”. Unlike the Hiroshima draft communique, however, ministers did not say that such investment may be appropriate.
The G7 leaders summit beginning on 26 May in Japan is expected to back decarbonisation and the accelerated phase-out of fossil fuels, according to a draft communiqué seen by The Guardian. The leaders are expected to affirm their commitment to “no less” than a full decarbonisation of the global economy in the course of this century, whilst recognising the “possible urgent need for flexibility” in approaches to energy security in individual countries. The draft recognises the significance of offshore wind power and solar energy, and states support for natural gas “implemented in a manner consistent with our climate targets” to alleviate “market shortfalls” during the transition to greener energy.
Ukrainian President Volodymyr Zelenskyy presented a 10-point peace plan to leaders at the Arab League summit last Friday and asked them to work with Ukraine directly, without intermediaries. Zelenskyy called on some Arab leaders to "take an honest look" at the war in Ukraine and accused them of ignoring Russia's invasion of his country. Leaders from Arab states largely remain neutral over Russia's invasion of Ukraine, and many maintain close ties to Moscow. Zelenskyy’s visit to Saudi Arabia was designed to enhance bilateral relations and Ukraine’s ties with the Arab world. Earlier that week, G7 leaders said they had ensured Ukraine had the budget support it needs for this year and early 2024 and had announced plans to further tighten existing sanctions against Russia over the war.
Both the United States and the United Nations have condemned anti-Arab slogans chanted during an annual march in Jerusalem's Old City, with Israeli nationalists present. During the heavily policed and flag-waving procession, several groups of Jewish youths confronted and beat Palestinians, chanting "Death to Arabs" and waving racist banners. The march celebrates Jerusalem Day, when Israel marks its capture of eastern Jerusalem during the 1967 war. Palestinian shopkeepers shuttered their businesses along the route before the march, fearing potential abuse. In recent years, Jerusalem Day festivities have become a show of force for Jewish nationalists and a cause of concern for Palestinians.
Retail sales in Canada fell 1.4% to C$65.29bn ($48.83bn) during March, but sales were expected to rise by 0.2% in April, according to a flash estimate from Statistics Canada. The drop in sales was attributed to lower sales of motor vehicles and parts, as well as reduced purchases at gasoline stations. Sales were down in five of nine subsectors, a figure representing 55.5% of retail trade
The DAX stock market index has hit a record high, passing a peak seen in November 2021. The index reached 16,331 points on Friday afternoon, a rise of 0.8%. The value is in part due to growing optimism that progress is being made about raising the US debt ceiling; a potential default had been loomed as disastrous. The index had been hovering below 16,000 points before breaking through that barrier on Thursday. As an important global trade driver, the improvement in China's economy has also led to the DAX rising in value. Despite Germany facing difficulties due to Covid-19, as well as the Ukraine conflict, DAX has gained over 50% more than its value seen in 2018.
Russia has this week declared environmental group, Greenpeace, an "undesirable organisation" after stating that they pose "a threat to the foundations of the constitutional order and security" of the country. This classification criminalises the work of organisations that bear the brand and also puts employees at risk of criminal prosecution. Six employees of Greenpeace were charged in 2013 with piracy whilst protesting against oil exploration in the Arctic Circle.
The US and its allies on Friday imposed new sanctions on Russia’s future energy revenues, military supply chains, and sanctions evasion in their efforts to punish Russia for its invasion of Ukraine. More than 300 targets are covered by the sanctions, including precision electronics manufacturers, intelligence agencies, architects, and construction firms. This is just the latest in a long string of sanctions and export controls targeting Moscow, which have imposed steep curbs on the country’s economy.
Senator Tim Scott, the only Black Republican in the US Senate, has entered the 2024 presidential race, according to a filing with the US election regulator. Scott often talks about his difficult childhood as proof that America remains a land of promise. However, only around 2% of Republicans plan to vote for him in the primary, according to polling averages, while over half of the party plan to vote for former President Donald Trump and about a fifth of Republicans favour Florida Governor Ron DeSantis.
India's NTPC Q4 profit falls as expenses outweigh power demand
Reuters
23-05-19 15:00
India’s NTPC announced a 6% drop in Q4 net profits of INR 48.61bn ($594.40m) as rising expenses offset higher demand for power. Total expenses rose over 22% to INR 390.19bn, largely due to fuel costs. Despite revenue from operations rising 19% to INR 442.53bn, higher costs meant profits fell from INR 51.67bn the previous year.
Demonstrations were held on 10 December across Syria to protest against the country’s return to the Arab League and normalisation of relations with President Bashar al-Assad’s government. In addition to Syrian cities, demonstrations were held in London, Amsterdam, Lyon, Stockholm, Vienna, and Vaile. Protesters adopted the slogan “Criminal al-Assad Never Represents Syria” and insisted that despite the decision to readmit Syria to the Arab League, al-Assad does not represent the country. During the Arab League summit that prompted the protests, Qatar’s emir Sheikh Tamim bin Hamad Al Thani led the Qatari delegation but left the summit before al-Assad’s speech.
German football club Darmstadt 98 have secured their return to the Bundesliga for the first time in six years, with a game left to play in the season. Darmstadt defeated Magdeburg 1-0, putting them seven points clear of third place Hamburg and securing the automatic promotion, which is confirmed by coming in first or second in the league. Darmstadt is led by former Eintracht Braunschweig boss Torsten Lieberknecht.
Tens of thousands of people marched through Belgrade in an anti-government protest last Friday following two mass shootings that killed 18 people. The opposition parties that organised the demonstration claim that authorities have allowed unchecked growth of a culture of violence in Serbian media. Protesters called for the resignation of the President, Interior Minister and head of Serbia's security agency as they have failed to act against criminal elements in society and promote violence in Serbian media. On the other hand, the government denies the opposition parties' allegations and accuses them of organizing the protests for political gain. Last week, both President Vucic and opposition protesters went to locations outside the capital and held rival rallies.
Russian officials and business leaders have signed agreements with Cuban counterparts in Havana this week to work together to boost sugar and rum output, assure wheat and crude oil supply to the communist-run island, and overhaul the country's crumbling tourist facilities. The agreements include a contract for Russia's Prodintorg to supply wheat to Cuba's state-owned Alimport, aimed at "guaranteeing the stability" of supply to the Cuban population. Another deal will create a Cuba-based marketplace for Russian goods, including food and home goods, to help spur development of more direct and fluid shipping routes between the two countries.
House Republican leaders should have acted immediately to protect the voting system by voting to expel George Santos, the representative indicted for fraud, according to the New York Times. Santos deceived the voters who brought him to office, eroding trust in Congress and the electoral system, the newspaper argues. Rather than allowing a vote to remove Santos, Speaker Kevin McCarthy and other Republican leaders pushed the issue to the House Ethics Committee, while they considered the potential loss of Santos's vote. An expediting and timely investigation and recommendation for expulsion instead of censure and concern would prove to the American people there are minimum ethical standards for Congress, the New York Times argues.
The G7 summit in the city of Hiroshima in Japan may feature debates on the Ukraine conflict, China’s economic power and the domination of Taiwan. Issues of global energy and economic security are also expected to be discussed. The presence of India, a country that is currently chairing G-20, is likely to bring a focus to global developing nations and the concerns of the so-called Global South. Significant Asia-Pacific nations including India, South Korea, Indonesia, Vietnam and Australia are participating alongside the seven member states of the G7 and the European Union. Gambia, Laos, Papua New Guinea, Senegal and Vietnam have been invited to send representatives to a meeting on tropical diseases.
Thousands of Serbians protested in Belgrade over the weekend, the third major protest this month, following two mass shootings that collectively killed 18 people. Opposition parties are calling for the resignation of Interior Minister, Bratislav Gasic, and head of intelligence, as they believe that the government is not doing enough to stop criminal elements and broadcasters airing violent content. The ruling Serbian Progressive Party (SNS) led by President Aleksandar Vucic has called the protests a political stunt.
