Blasts hit churches, hotels across Sri Lanka; Over 200 killed, 500 injured

Boston, Jun 7: Dozens of scientists doing research funded by Mark Zuckerberg say Facebook should not be letting President Donald Trump use of the social media platform to spread both misinformation and incendiary statements.

The researchers, including 60 professors at leading US research institutions, wrote a letter to the Facebook CEO on Saturday asking that he consider stricter policies on misinformation and incendiary language that harms people," especially during the current turmoil over racial injustice.

The letter calls the spread of deliberate misinformation and divisive language the researchers' goal of using technology to prevent and eradicate disease, improving childhood education and reform the criminal justice system.

The researchers' mission "is antithetical to some of the stances that Facebook has been taking, so we're encouraging them to be more on the side of truth and on the right side of history as we've said in the letter, said Debora Marks of Harvard Medical School, one of three professors who organized the letter.

The other organisers are Martin Kampmann of the University of California-San Francisco and Jason Shepherd of the University of Utah.

All have grants from a Chan Zuckerberg Initiative program working to prevent, cure and treat neurodegenerative disorders including Alzheimer's and Parkinson's disease. The initiative is run by Zuckerberg and his wife, Priscilla Chan.

They said the letter had more than 160 signatories. Shepherd said about 10% are employees of Chan Zuckerberg foundations.

The letter objects specifically to Zuckerberg's decision not to at least flag as a violation of Facebook's community standards Trump's post that stated when the looting starts, the shooting starts after unrest in Minneapolis over the videotaped killing of George Floyd, a black man, by a white police officer.

The letter's authors called the post a clear statement of inciting violence.

Twitter had both flagged and demoted a Trump tweet using the same language.

The Associated Press emailed the Chan Zuckerberg Initiative press office for comment. It did not immediately respond.

Some Facebook employees have publicly objected to Zuckerberg's refusal to take down or label misleading or incendiary posts by Trump or other politicians. But Zuckerberg who controls a majority of voting shares in the company has so far refused.

On Friday, Zuckerberg said in a post that he would review potential options for handling violating or partially-violating content aside from the binary leave-it-up or take-it-down decisions I know many of you think we should have labeled the President's posts in some way last week, he wrote.

"Our current policy is that if content is actually inciting violence, then the right mitigation is to take that content down not let people continue seeing it behind a flag. There is no exception to this policy for politicians or newsworthiness.

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

New Delhi, Jul 24: India reported the highest single-day spike of 49,310 coronavirus cases on Friday, according to the Union Ministry of Health and Family Welfare.

The total COVID-19 positive cases stand at 12,87,945 including 4,40,135 active cases, 8,17,209 cured/discharged/migrated.
With 740 deaths in the last 24 hours, the cumulative toll reached 30,601.

Maharashtra has reported 3,47,502 coronavirus cases, the highest among states and Union Territories in the country. A total of 1,92,964 cases have been reported from Tamil Nadu till now, while Delhi has recorded 1,27,364 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 3,52,801 samples were tested for coronavirus on Thursday and overall 1,54,28,170 samples have been tested so far.