23 dead, more than 30 wounded in Mogadishu hotel attack

Agencies
October 29, 2017

Mogadishu (Somalia), Oct 29: A suicide truck bomb exploded outside a popular hotel in Somalia's capital, killing at least 23 people and wounding more than 30, and gunfire continued as security forces pursued other attackers inside the building, police said.

Two more blasts were heard, one when an attacker detonated a suicide vest yesterday.

Speaking to the Associated Press by telephone from the scene, Capt. Mohamed Hussein said 30 people, including a government minister, were rescued from the Nasa-Hablod hotel as heavy gunfire continued in the standoff between extremists and security forces.

Three of the five attackers were killed, Hussein said. The others hurled grenades and cut off the building's electricity as night fell.

The blasts came two weeks after more than 350 people were killed in a massive truck bombing on a busy Mogadishu street in the country's worst-ever attack.

Al-Shabab, Africa's deadliest Islamic extremist group, quickly claimed responsibility for yesterday's attack and said its fighters were inside the hotel.

Among the dead were a mother and three children, including a baby, all shot in the head, Hussein said.

Other victims included a senior Somali police colonel, a former lawmaker and a former government minister. Footage from the scene showed twisted vehicles and nearby buildings with only walls left standing.

Mohamed Dek Haji said he survived the bombing as he walked beside a parked car that was largely destroyed by the explosion. He said he saw at least three armed men in military uniforms running toward the hotel after the bombing at its gate.

"I think they were al-Shabab fighters who were trying to storm the hotel," he said, lying on a hospital bed.

Witnesses in some previous attacks have said al-Shabab fighters disguised themselves by wearing military uniforms.

Security officials say yesterday's bomber had pretended his truck had broken down outside the gate. Police Col. Mohamed Abdullahi says the bomber stopped outside the heavily fortified hotel and pretended to repair the truck before finally turning it around and detonating.

Al-Shabab often targets high-profile areas of Mogadishu. It has not commented on the massive attack two weeks ago; experts have said the death toll was so high that the group hesitated to further anger Somali citizens as its pursues its insurgency.

Somalia President Mohamed Abdullahi Mohamed said the new attack was meant to instill fear in Somalis who united after the October 14 attack, marching in the thousands through Mogadishu in defiance of al-Shabab.

Since the blast two weeks ago, the president has visited regional countries to seek more support for the fight against the extremist group, vowing a "state of war."

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Agencies
May 17,2020

Washington, May 17: The overall number of global coronavirus cases has increased to over 4.6 million, while the death toll has surpassed 311,000, according to the Johns Hopkins University.

As of Sunday morning, the total number of cases stood at 4,634,068, while the death toll increased to 311,781, the University's Center for Systems Science and Engineering (CSSE) revealed in its latest update.

The US currently accounts for the world's highest number of cases and deaths at 1,467,796 and 88,754, respectively.

In terms of cases, Russia has the second highest number of infections at 272,043, followed by the UK (241,461), Brazil (233,142), Spain (230,698), Italy (224,760), France (179,630), Germany (175,752), Turkey (148,067) and Iran (118,392), the CSSE figures showed.

Meanwhile, the UK accounted for the second highest COVID-19 deaths worldwide at 34,546.

The other countries with over 10,000 deaths are Italy (31,763), Spain (27,563), France (27,532), and Brazil (15,662).

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News Network
March 2,2020

Paris, Mar 2: A global agency says the spreading new virus could make the world economy shrink this quarter, for the first time since the international financial crisis more than a decade ago.

The Organization for Economic Cooperation and Development says Monday in a special report on the impact of the virus that the world economy is still expected to grow overall this year and rebound next year.

But it lowered its forecasts for global growth in 2020 by half a percentage point, to 2.4 per cent, and said the figure could go as low as 1.5 per cent if the virus lasts long and spreads widely.

The last time world GDP shrank on a quarter-on-quarter basis was at the end of 2008, during the depths of the financial crisis. On a full-year basis, it last shrank in 2009.

The OECD said China's reduced production is hitting Asia particularly hard but also companies around the world that depend on its goods.

It urged governments to act fast to prevent contagion and restore consumer confidence.

The Paris-based OECD, which advises developed economies on policy, said the impact of this virus is much higher than past outbreaks because "the global economy has become substantially more interconnected, and China plays a far greater role in global output, trade, tourism and commodity markets."

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News Network
February 29,2020

New Delhi, Feb 29: India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global Covid 19 coronavirus outbreak stifles growth in Asia’s third-largest economy.

The gross domestic product (GDP) data released yesterday showed government spending, private investment and exports slowing down, while there is a slight upturn in consumer spending and improvement in rural demand lent support.

The quarterly figure of 4.7% growth matched the consensus in a Reuters poll of analysts but was below a revised - and greatly increased - 5.1% rate for the previous quarter.

The central bank has warned that downside risks to global growth have increased as a result of the coronavirus epidemic, the full effects of which are still unfolding.

Prime minister Narendra Modi’s government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.

In its annual budget presented this month, the government estimated that annual economic growth in the financial year to March 31 would be 5%, its lowest for last 11 years.

Modi’s government is targeting a slight recovery in growth to 6% for 2020/21, still far below the level needed to generate jobs for millions of young Indians entering the labour market each month.

The annual GDP figure for the September quarter was ramped up from an earlier estimate of 4.5%, while the April-June reading was similarly lifted to 5.6% from 5%, data released by the Ministry of Statistics showed on Friday.

Capital Investment Drop

In the December quarter, private investment grew 5.9%, up from 5.6% in the previous quarter, while government spending rose by 11.8%, against 13.2% in the previous three months.

However, corporate capital investment contracted by 5.2% after a 4.1% decline in the previous quarter, indicating that interest rate cuts by the central bank have failed to encourage new investment. Manufacturing, meanwhile, contracted by 0.2%.

“It appears growth slowdown is not just cyclical but more entrenched with consumption secularly joining the slowdown bandwagon even as the investment story continues to languish,” said Madhavi Arora of Edelweiss Securities in Mumbai.

Many economists said that the government stimulus could take four to six quarters of time before lifting the economy and the impact of those efforts could be outweighed by the global fallout from the coronavirus epidemic that began in China.

“The coronavirus remains the critical risk as India depends on China for both demand and supply of inputs,” said Abheek Barua, chief economist at HDFC Bank.

Indian shares sank on Friday for a sixth session running, capping their worst week in more than a decade. The NSE Nifty 50 index shed 7.3% over the week, while the Sensex dropped 6.8%, the worst weekly declines since the 2008-09 financial crisis.

Separately, India’s infrastructure output rose 2.2% year on year in January, data showed on Friday.

A spike in inflation to a more than 5-1/2 year high of 7.59% in January is expected to make the RBI hold off from further cuts to interest rates for now, while keeping its monetary stance accommodative.

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