Theresa May wins crucial confidence vote in leadership of Tory MPs, says need to deliver Brexit now

Agencies
December 13, 2018

London, Dec 13: British Prime Minister Theresa May won a crucial vote of confidence in her leadership on Wednesday, with 200 votes cast in favour of her and 117 against out of a total of 317 of her Conservative Party MPs.

The vote had been triggered earlier in the day after the required 48 MPs from her Tory party filed letters of no-confidence with the influential 1922 Committee. "Whilst I am grateful for the support, a significant number of my colleagues did cast a vote against me and I have listened to what they have said," May said in a statement outside Downing Street soon after the results were declared.

"Following this ballot, we now need to get on with the job of delivering the Brexit for the British people and building a better future for this country. A Brexit that delivers on the vote of the people," she said, adding that she intended to carry on negotiating with the European Union (EU) over controversial aspects of her Brexit deal when she heads to Brussels for a pre-scheduled European Council meeting on Thursday.

The verdict of the confidence vote was formally announced by Graham Brady, Chair of the 1922 Committee made up of Tory backbenchers, who revealed that the Parliamentary Party "does have confidence in Theresa May as leader of the Conservative Party". Under the party's rules, May's leadership cannot be challenged for at least a year now.

The MPs, unhappy with the Brexit deal May has struck with the EU, began voting on her future Wednesday evening. A majority of the MPs had publicly said they would be voting for the PM but as it was a secret ballot, there was uncertainty over the result.

May was reportedly greeted with applause, and the traditional banging of desks as she went into a House of Commons Committee Room reserved for the vote to address her MPs before they began casting their ballots.

In her impassioned plea to the 1922 Committee, she told her colleagues that she had listened to all their criticism and confirmed that she would only hang on to Downing Street to see Brexit through before stepping down. This would mean she would not lead the party into the next General Election, scheduled for 2022.

"She was very clear that she won't be taking the General Election in 2022," said UK work and pensions secretary Amber Rudd.

The plea seemed to have paid off in the end as she survived the vote, turning the attention back to securing a Brexit deal that is acceptable to all sides of her deeply divided party as well as a fractured Parliament.

"I will contest that vote with everything I have got," May had said in a statement at Downing Street, warning that the leadership challenge will delay or even cancel Brexit.

May needed to convince a majority of her party MPs and a minimum of 159 votes to win the contest.

Had she lost, the party would have had to elect a new leader who would then go on to become the next British prime minister. May would not have been able to stand for such a leadership contest but would have to remain in Downing Street as caretaker PM while the process to select a new leader was conducted.

Some possible frontrunners named in the UK media included former UK foreign secretary Boris Johnson, current foreign secretary Jeremy Hunt, home secretary Sajid Javid and Rudd. But there did not seem to be a candidate with consensus across the pro and anti Brexit wings within the Tory party.

In her defiant statement on the steps of Downing Street soon after the no-confidence vote was announced on Wednesday morning, May said changing the Conservative Party leader would "put our country's future at risk and create uncertainty when we can least afford it".

She said: "A leadership election would not change the fundamentals of the negotiation or the Parliamentary arithmetic.

"Weeks spent tearing ourselves apart will only create more division just as we should be standing together to serve our country. None of that would be in the national interest."

She said she was making progress in her talks with EU leaders and vowed to "deliver on the referendum vote and seize the opportunities that lie ahead". The Conservatives had to build a "country that works for everyone" and deliver "the Brexit people voted for".

"I have devoted myself unsparingly to these tasks ever since I became prime minister and I stand ready to finish the job," she said.

The leadership challenge came as May was desperately trying to rescue her Brexit deal as she tried to convince EU leaders to offer some concessions to convince Britain's MPs to vote for it on Tuesday, a day after she postponed a crucial parliamentary vote scheduled for this week over the Withdrawal Agreement struck with the EU.

She was due to travel to Dublin on Wednesday but remained in London to contest the no-confidence vote.

European Commission President Jean-Claude Juncker, who held talks with the British PM in Brussels on Tuesday, said the EU would not "renegotiate" the deal but there was room for "further clarifications".

"The deal that we have achieved is the best deal possible, it is the only deal possible," he reiterated.

Britain's MPs have to give the go-ahead for May's deal if it is to come into effect when the UK leaves the EU on Brexit Day -- March 29, 2019. But deep divisions remain on all sides of the House of Commons over the so-called "backstop", a temporary customs arrangement designed to prevent the need for checkpoints at the Irish border if a long-term solution between the UK and EU cannot be agreed post-Brexit.

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News Network
March 3,2020

New Delhi, Mar 3: Delhi's Tihar Prison authorities had made all necessary preparations for the hanging of four convicts in the Nirbhaya gangrape-and-murder case which was scheduled for Tuesday, officials said Monday.

However, on Monday evening, a city court deferred the hanging till further orders.

Postponing the execution, Additional Sessions Judge Dharmender Rana said the hanging cannot be carried out pending disposal of Pawan Gupta's mercy plea before the President, observing any condemned convict must not meet his "Creator" with grievance against courts for not acting fairly on the opportunity to exhaust legal remedies.

"We had made all the necessary arrangements for the execution of the four convicts which was scheduled for Tuesday at 6 AM. Now, the execution has been postponed and we are waiting for the further order by the court," a senior jail official said.

The hanging of the four men -- Mukesh Kumar Singh (32), Vinay Kumar Sharma (26), Akshay Kumar Singh (31) and Pawan -- who are lodged in Tihar jail, was fixed for March 3 in Tihar jail on a court order.

"We had checked the ropes. Hangman was called and dummy executions were carried out," another senior jail official said.

Barring Pawan, the other three had in the previous weeks moved curative petitions and mercy pleas which were all dismissed.

The first date of execution -- January 22 -- fixed on January 7 was postponed by the court to February 1. But on January 31, the court indefinitely postponed the hanging. On February 17, the court again issued fresh date for execution of death warrants for March 3 at 6 AM.

The court in its orders observed that the four convicts cannot be hanged since a mercy plea of one or the other convict was pending.

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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Agencies
August 1,2020

Mexico City, Aug 1: The number of people, who have died of COVID-19 in Mexico, has risen by 688 to 46,688 within the past 24 hours, Deputy Health Minister Hugo Lopez-Gatell said.

The number of victims in Mexico is now higher than in the United Kingdom, where 46,119 people have died of the disease. The largest number of fatalities - 153,311 - has been recorded in the United States, while Brazil comes second with 92,475 deaths.

Lopez-Gatell also said on late Friday that the number of confirmed coronavirus cases had increased by 8,458 to 424,637 over the past day.

A day earlier, the Latin American nation recorded 7,730 new cases of the coronavirus, with 639 fatalities.

The World Health Organisation (WHO) declared the COVID-19 outbreak a pandemic on March 11. To date, over 17.5 million people have been infected with the coronavirus worldwide, with over 677,000 fatalities, according to Johns Hopkins University.

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