Maldives ex-president Abdulla Yameen gets 5 years jail for money laundering

Agencies
November 28, 2019

Male, Nov 28: Former Maldives President Abdulla Yameen was sentenced to five years of imprisonment in a money laundering case on Thursday.

A five bench panel of a court in Maldives also odered Yameen to pay a USD 5 million fine in the case.

The court ruling found the 60-year old guilty of laundering over USD 1 million of state money for personal gain, Maldives Independent reported.

The panel ruled that Yameen invested the money despite reasonable grounds to suspect that it was ill-gotten and violated an agreement signed with the Anti-Corruption Commission to hold the USD1 million in an escrow account.

The new bench has announced the verdict after Judge Ahmed Halin was suspended hours before he was to announce the verdict on November 5.

Yameen's supporters including former ministers and lawmakers protested outside the criminal court during the hearing. They have accused the government of "hijacking" the judiciary.

Yesterday, Yameen warned supporters to beware of "vultures" who might take over the opposition coalition if he is sent to prison.

"If I am not here, don't let vultures straddle my party. That's not something that should be allowed at all," he appealed.

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News Network
July 4,2020

Maryland, Jul 4: The total number of coronavirus cases worldwide has touched 11 million, according to the latest data by the Johns Hopkins University on Saturday.
More than 523,613 people have died globally due to the infection, according to the data compiled by the university.

Though the virus is believed to have emerged from the Chinese city of Wuhan, the United States is the worst-hit country from COVID-19, which was declared as a pandemic by the WHO on March 11.

At least 129,275 people have died in the US from the coronavirus, according to Johns Hopkins University's latest tally.
There are at least 2,786,178 cases of the disease in the country. The US has the highest number of cases in the world.

The second worst-hit country is Brazil, which has reported 1,496,858 lakh cases. The country's death toll stands at 61,884.

The countries around the world including the US, India, Denmark, and Italy have started the process of lifting the lockdown by easing restrictions despite the number of cases continues to rise.

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News Network
May 6,2020

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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