Pak close to 'dark grey' list, FATF gives last warning to improve: report

Agencies
October 15, 2019

Paris, Oct 15: Pakistan is on the verge of strong action by the international terror financing watchdog FATF and the country may be put in the ''Dark Grey'' list, the last warning to improve.

Officials attending the ongoing plenary of the Financial Action Task Force (FATF) said as per indications, Pakistan will be isolated by all members for not doing enough.

Pakistan is on the verge of strong action by FATF, given its inadequate performance, whereby it managed to pass in only six of 27 items, an official privy to the development said.

The FATF will finalise its decision on Pakistan on October 18.

According to FATF rules, there is one essential stage between ''Grey'' and ''Black'' lists, referred to as ''Dark Grey''.

''Dark Grey'' means the issuance of a strong warning, so that the country concerned gets one last chance to improve, another official said.

''Dark Grey'' was the term used for warning up to the 3rd Phase. Now it's just called warning -- that is the 4th phase.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

Pakistan was placed on the Grey List by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 or face the risk of being placed on the blacklist with Iran and North Korea.

If Pakistan continues with the ''Grey List'' or puts in the ''Dark Grey'' list, it would be very difficult for the country to get financial aid from the IMF, the World Bank, and the European Union, making its financial condition more precarious.

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News Network
March 30,2020

Mar 30: Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.

"Today we have to assume that he was deeply worried," said Bouffier, a close ally of Chancellor Angela Merkel.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Popular and well-respected, Schaefer had long been touted as a possible successor to Bouffier.

Like Bouffier, Schaefer belonged to Merkel's centre-right CDU party.

He leaves behind a wife and two children.

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Agencies
March 15,2020

Jakarta, Mar 15: Indonesia's transport minister is in intensive care after testing positive for the novel coronavirus, an official has said, as schools and tourist attractions were ordered to close over the health threat.

Transportation Minister Budi Karya Sumadi was receiving treatment at an army hospital in Jakarta, State Secretary Pratikno said on Saturday.

A hospital spokesman said Sumadi was encountering difficulty breathing but that his condition was improving.

Pratikno said Sumadi was involved in virus mitigation efforts, particularly the evacuation of Indonesians from epicenters of the outbreak, and that President Joko Widodo had called for tests to be carried out on other ministers.

Cases of the virus in Indonesia, the world's fourth most populous country, have jumped from zero two weeks ago to 96, with five deaths, according to government spokesperson Achmad Yurianto.

He also said the virus has spread outside Greater Jakarta to Bandung in West Java, Solo in Central Java, Manado in North Sulawesi, Pontianak in West Kalimantan, as well as holiday havens Yogyakarta and Bali.

Following the increase, the government on Saturday established a task force on COVID-19 mitigation.

Jakarta's Governor Anies Baswedan announced that schools would close for two weeks starting Monday, and ordered the closure of city-owned tourist attractions, such as Ragunan Zoo and Ancol beach.

He emphasized that Jakarta would not be locked down but urged people "to be responsible" and called for social distancing when possible.

Similarly, the administration of Solo, Central Java, Friday announced that schools and tourist attractions would close after a coronavirus patient died in the region.

The World Health Organization has said it is particularly concerned about high-risk nations with weaker health systems, which who may lack the facilities to identify cases.

A day after declaring the coronavirus outbreak to be pandemic this week, WHO chief Tedros Adhanom Ghebreyesus called Indonesia's president Widodo and both agreed to "scale up cooperation."

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Agencies
March 25,2020

Moscow, Mar 25: An earthquake measuring 7.5 on the Richter scale struck off Russia's Kuril Islands on Wednesday, the United States Geological Survey (USGS) said.

The magnitude of the quake, which occurred at 2:49 am (UTC), was registered at a depth of 56.7 kilometres, about 219 kilometres southeast of the Russian town of Severo-Kuril'sk, the USGS said.

There were no immediate reports of casualties or damage to the property as a result of the quake.
Further details are awaited.

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