Putin storms to victory, to rule Russia as President six more years

Agencies
March 19, 2018

Moscow, Mar 19: Vladimir Putin cruised to victory in Russia's presidential election on Sunday, giving him at least another six years in power as Moscow's relations with the West become increasingly strained.

Putin, who has ruled Russia for almost two decades, recorded his best ever election performance with more than 76 percent of the vote, but the opposition cried foul.

Monitors reported ballot stuffing and other cases of alleged fraud as the Kremlin pushed for a high turnout to give greater legitimacy to Putin's historic fourth term.

The Russian strongman ran against seven other candidates, but his most vocal critic Alexei Navalny was barred from the ballot for legal reasons and the final outcome was never in doubt.

"I see in this (result) the confidence and hope of our people," Putin said in an address to a crowd of supporters on a square next to the Kremlin after exit polls put him on track for a resounding victory.

"Our thoughts will turn to the future of our great country and the future of our children," said the man who is already Russia's longest-serving leader since Stalin.

About 107 million Russians were eligible to cast ballots and in its latest update on participation, three hours before polls closed in Moscow, the central election commission said turnout was at 60 percent.

Authorities used both the carrot and the stick to boost engagement in the polls.

Selfie competitions, giveaways, food festivals and children's entertainers were laid on at polling stations in a bid to create a festive atmosphere around the election.

But employees of state and private companies reported coming under pressure to vote, while students were threatened with problems in their exams or even expulsion if they did not take part, according to the independent Novaya Gazeta newspaper.

According to central election commission data with 90 percent of ballots counted, Putin took 76.4 percent of the vote, well ahead of his nearest competitor Communist Party candidate Pavel Grudinin who was on 12 percent.

Ultra-nationalist firebrand Vladimir Zhirinovsky took around 6 percent, former reality TV presenter Ksenia Sobchak was on 1.5 percent and other candidates were on less than a single percentage point each.

The election was held as Russia faces increasing isolation on the world stage over a spy poisoning in Britain and a fresh round of US sanctions just as it gears up for the football World Cup in the summer.

Navalny -- who called on his supporters to boycott the "fake" vote and sent more than 33,000 observers across the country to see how official turnout figures differed from those of monitors -- said there had been "unprecedented violations".

His lawyer Ivan Zhdanov said the actual national turnout at 1700 GMT, when polls closed in Moscow, was 55 percent, according to data collected by monitors.

Navalny's opposition movement and the non-governmental election monitor Golos reported ballot stuffing, repeat voting and Putin supporters being bussed into polling stations en masse.

One election commission worker in the Republic of Dagestan, which traditionally registers extremely high official turnout figures, told AFP around 50 men entered the station where he was working and physically assaulted an observer before stuffing a ballot box.

But the electoral commission dismissed most concerns, saying monitors sometimes misinterpret what they see.

Runner-up Grudinin said the elections had been "dishonest" in comments carried by news agencies following early results.

Among the first world leaders to congratulate Putin was Chinese President Xi Jinping, who has just been handed a second term himself and has gained a path to indefinite rule after presidential term limits were lifted last week.

"China is willing to work with Russia to keep promoting China-Russia relations to a higher level, provide the driving force for respective national development in both countries, and promote regional and global peace and tranquillity," Xi said in his message.

Since first being elected president in 2000, Putin has stamped his total authority on the world's biggest country, muzzling opposition, putting television under state control and reasserting Moscow's standing abroad.

The 65-year-old former KGB officer used an otherwise lacklustre presidential campaign to emphasise Russia's role as a major world power, boasting of its "invincible" new nuclear weapons in a pre-election speech.

Most people who spoke to AFP on Sunday said they voted for Putin, praising him for restoring stability and national pride after the humiliating collapse of the Soviet Union.

"Of course I'm for Putin, he's a leader," said Olga Matyunina, a 65-year-old retired economist.

"After he brought Crimea back, he became a hero to me."

Sunday marked four years since Putin signed a treaty declaring Crimea to be part of Russia in a move that triggered a pro-Kremlin insurgency in east Ukraine, a conflict that has claimed more than 10,000 lives.

Ahead of the vote, a new crisis broke out with the West as Britain implicated Putin in the poisoning of former double agent Sergei Skripal with a Soviet-designed nerve agent.

In response, London expelled 23 Russian diplomats, prompting a tit-for-tat move by Moscow. Also this week, Washington hit Russia with sanctions for trying to influence the 2016 US election.

After his victory, Putin dismissed claims Russia was behind the poisoning in Britain as "drivel, rubbish, nonsense" but said Moscow was ready to cooperate with London in the probe.

Putin's previous Kremlin term was marked by a crackdown on the opposition after huge protests, the Ukraine conflict, military intervention in Syria and the introduction of Western sanctions that contributed to a fall in living standards.

The president has said he will use his fourth term to address a litany of domestic problems including widespread poverty and poor healthcare.

Election officials flew to far-flung regions to collect votes from indigenous herders, while cosmonaut Anton Shkaplerov -- the only Russian currently aboard the International Space Station -- cast his ballot by proxy.

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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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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
April 7,2020

London, Apr 7: British Prime Minister Boris Johnson was moved to the intensive care unit of a London hospital after his coronavirus symptoms worsened Monday, just a day after he was admitted for what were said to be routine tests.

Johnson was admitted to St. Thomas’ Hospital late Sunday, 10 days after he was diagnosed with COVID-19, the first major world leader to be confirmed to have the virus.

Downing Street said Johnson was conscious and did not require ventilation, but he was moved into intensive care in case he needs it later, his office said in a statement.

Britain has no official post of deputy prime minister, but Foreign Secretary Dominic Raab has been designated to take over should Johnson become incapacitated.

Hours earlier, Johnson tweeted that he was in good spirits and thanked the National Health Service for taking care of him and others with the disease.

“On the advice of my doctor, I went into hospital for some routine tests as I’m still experiencing coronavirus symptoms,″ Johnson said in the tweet. “I’m in good spirits and keeping in touch with my team, as we work together to fight this virus and keep everyone safe.″

The prime minister's spokesman said earlier Monday that Johnson had spent a comfortable night and remained in charge of government after being admitted to the hospital because his cough and fever persisted.

Johnson's spokesman, James Slack, refused to say what kind of tests Johnson was undergoing. He insisted that "the PM remains in charge of the government."

“He is receiving updates in hospital and is continuing to receive a (ministerial red) box" of files and briefing papers, Slack said.

Prime Minister Narendra Modi on Monday hoped that his British counterpart Boris Johnson, admitted to a hospital for treatment of coronavirus, finds himself in perfect health soon.

"Hang in there, Prime Minister @BorisJohnson! Hope to see you out of hospital and in perfect health very soon," the prime minister wrote on Twitter.

The 55-year-old leader had been quarantined in his Downing Street residence since being diagnosed with COVID-19 on March 26. He continued to preside at daily meetings on the outbreak until Sunday. He released several video messages during his 10 days in isolation urging Britons to stay home and observe social distancing measures to help slow the spread of the virus.

Speaking earlier at the government's daily coronavirus press briefing, Raab said Johnson was being “regularly updated," but said he had not spoken to him since Saturday.

“He's in charge, but he’ll continue to take doctors’ advice on what to do next," Raab said.

Politicians from all parties wished Johnson a quick recovery. Opposition Labour Party leader Keir Starmer tweeted: “Terribly sad news. All the country’s thoughts are with the Prime Minister and his family during this incredibly difficult time."

Johnson's fiancee, Carrie Symonds, who is pregnant, is herself recovering from coronavirus symptoms.

Johnson was admitted to the hospital as a message to the nation from Queen Elizabeth II was being broadcast Sunday evening. The 93-year-old monarch urged the public to show resolve and follow advice to stay inside.

Concerns had been growing about Johnson’s welfare ever since he posted a message Friday saying that he was feeling better, though was still feverish.

The virus causes mild to moderate symptoms in most people, but for some, especially older adults and the infirm, it can cause pneumonia and lead to death.

The government said Monday that 51,608 people had been confirmed to have the coronavirus in Britain, 5,373 of whom have died.

Derek Hill, a professor of medical imaging science at University College London, said that since COVID-19 causes difficulty breathing, one test performed on people with the disease is lung imaging with ultrasound or CT scans to see how badly they might be affected.

Hill said there are various types of breathing help, depending on the person and the difficulties.

“The reasons some people get seriously ill with COVID-19 while others have minor symptoms is not yet fully understood,″ Hill said. “But doctors managing these patients report that more men than women have serious problems, and patients who are overweight or have previous health problems are at higher risk."

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