Hong Kong leader Carrie Lam to announce withdrawal of controversial extradition bill

Agencies
September 4, 2019

Hong Kong, Sept 4: Hong Kong leader Carrie Lam will announce on Wednesday the formal withdrawal of an extradition bill that triggered months of unrest and has thrown the Chinese-controlled city into its worst crisis in decades, Cable TV and other media said.

A government source confirmed the reports to Reuters.

The protests in the former British colony began in June over the bill, which would have allowed extraditions to mainland China where courts are controlled by the Communist Party, but have since evolved into a push for greater democracy.

It was not immediately clear if the announcement, due later on Wednesday, would help end the unrest.

The chief executive's office did not immediately respond to a request for comment.

Hong Kong's benchmark Hang Seng Index jumped after the report, trading up about 3.3 per cent. The property index also jumped 6 per cent.

The withdrawal of the draft legislation was one of the protesters' key demands. Lam has said before that the bill was "dead" but she did not withdraw it.

Hong Kong returned to China under a "one country, two systems" formula that allows it to keep freedoms not enjoyed on the mainland, like the freedom to protest and an independent legal system, hence the anger at the extradition bill and perceived creeping influence by Beijing.

Reuters revealed in an exclusive report on Monday that Lam told business leaders last week she had caused "unforgivable havoc" by introducing the bill and that if she had a choice she would apologise and resign, according to a leaked audio recording.

At the closed-door meeting, Lam told the group that she now has "very limited" room to resolve the crisis because the unrest has become a national security and sovereignty issue for China amid rising tensions with the United States.

Lam's remarks are consistent with a Reuters report published on Friday that revealed how leaders in Beijing were effectively calling the shots on handling the crisis.

Injuries

The Chinese government rejected a recent proposal by Lam to defuse the conflict that included withdrawing the extradition bill altogether, three people with direct knowledge of the matter told Reuters.

Asked about the report, China's foreign ministry said the central government "supports, respects and understands" Lam's decision to suspend the bill. The Global Times, a nationalistic tabloid published by the Communist Party's official People's Daily, denounced it as "fake".

China has regularly denounced the protests and warned about the impact on Hong Kong's economy.

China denies it is meddling in Hong Kong's affairs but warned again on Tuesday that it would not sit idly by if the unrest threatened Chinese security and sovereignty.

The unrest had shown no sign of easing by Tuesday night.

Riot police fired beanbag guns and used pepper spray - both anti-riot weapons - on Tuesday to clear demonstrators from outside the Mong Kok police station and in Prince Edward metro station, with one man taken out on a stretcher with an oxygen mask over his face, television footage showed.

Videos showing the man being apprehended by the police in the station have been widely shared on social media with protest groups and activists saying it is evidence of the police brutality they say is widespread and needs to be investigated.

The police, who have repeatedly denied using excessive force, did not immediately respond to a request for comment. Hong Kong police are due to hold a news conference at 4 pm (0800 GMT).

Three men, aged between 21 and 42, were taken to Kwong Wa Hospital late on Tuesday, a hospital authority spokeswoman said.

Two, including the man stretchered out of Prince Edward station, were in a stable condition and one had been discharged, she said.

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News Network
May 20,2020

Washington, May 20: The United States recorded another 1,536 coronavirus deaths over the past 24 hours, the Johns Hopkins University tracker said.

That figure, tallied as of 8:30 pm (0030 GMT), raises to 91,845 the total number of COVID-19 deaths in the US.

The US tops the global rankings both for the highest death toll and the highest number of infections, with more than 1.5 million cases.

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News Network
May 27,2020

Bengaluru, May 27: Karnataka Chief Minister Yediyurappa on Wednesday said that his government will re-open temples, mosques and churches in the state after May 31.

"We are going to open temples, mosques and churches in the state after May 31, he said while speaking to media in Bengaluru.

The Chief Minister added that the "guidelines will be followed" as suggested by experts for opening the worship places.

"We have no objections to open malls and cinema halls, but we are waiting for the guidelines of the central government, Prime Minister will take decisions to allow malls and cinemas to open," he added.

Yediyurappa has said that people from Gujarat, Maharashtra, Kerala and Tamil Nadu will not be allowed in the state till May 31.

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Agencies
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

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