The latest from The Economist

Authentic news,No fake news.

The latest from The Economist

Daily Dispatch | Friday | March 31st 2017

South Africa: A Gordhan knot Just after midnight, Jacob Zuma, South Africa’s president, announced that he was shuffling 20 posts in his cabinet, and that the finance minister, Pravin Gordhan, would be replaced. Within hours the rand slumped, falling almost 7% against the dollar for the week. A credit downgrade is likely. Yet Mr Zuma’s dislike of Mr Gordhan was so great that he sacked him anyway, consequences be damned, writes our South Africa correspondent

Reusable rockets: What comes down... The Falcon 9 rocket launched yesterday by SpaceX, Elon Musk’s rocketry company, had already been into space once. It went off without a hitch. Successfully relaunching a used rocket is another impressive achievement for the firm, which hopes to cut the cost of spaceflight by an order of magnitude. SpaceX has delivered on all its promises so far. Mr Musk has earned the right to be taken seriously, writes our science correspondent

Park Geun-hye: From Blue House to jailhouse This morning South Korea’s impeached ex-president was arrested. The judge who approved her pre-trial detention said that, were she allowed to leave, she might destroy evidence. Ms Park’s alleged crimes include bribery, coercion and abuse of power. Prosecutors may now detain her for up to 20 days before formally indicting her. If convicted, she could face up to 45 years in prison, writes our Seoul bureau chief

Israel and Palestine: Settle down now The Israeli government announced yesterday that it would build a settlement 25km north of Jerusalem, the first new one in more than two decades. But Binyamin Netanyahu, Israel’s prime minister, also told his cabinet that any further building would take place only within the boundaries of the current settlements. This is to accommodate the wishes of Donald Trump, who wants to try to push through an Israeli-Palestinian peace deal

~6pm London

China wades into oil basins off the West African coast

Authentic news,No fake news.

Australian energy company FAR Ltd. sees potential increasing by agreeing to work with a Chinese oil company on acreage off the coast of West Africa. Image courtesy of FAR Ltd.

March 31 (UPI) -- Prospects for expanding the footprint in emerging oil basins off the Senegalese and Gambian coasts has increased through a Chinese partnership, FAR Ltd. said.

FAR Ltd., an Australian company with a heavy focus on oil basins off the coast of Africa, said it entered into a partnership with the British subsidiary of China National Offshore Oil Corp. that defines areas of mutual interest off the coast of Gambia and Senegal.

The deal gives both companies the ability to partner up on evaluating, bidding, negotiating and managing any joint ventures or buy-in opportunities for oil and gas in the broader Mauritania-Senegal-Guinea-Bissau deepwater basin.

FAR Managing Director Cath Norman said in a statement that her company has the chance to dramatically expand its footprint in the region by teaming up with the Chinese partner.

"The complementary skills of both organizations strengthen our collective ability to build acreage positions offshore Senegal and Gambia," she said.

The announcement from FAR follows its agreement this week to buy additional acreage off the coast of Gambia from ERIN Energy Corp., which has headquarters in Houston. Two Gambian blocks combine for an estimated 1 billion barrels of unrisked oil and are in close proximity to FAR's SNE oil field offshore Senegal, which was considered the largest oil find ever made when announced in 2014.

The entire Mauritania-Senegal-Guinea-Bissau has listed eight oil discoveries so far.

In stating its broader plans for 2017, the Chinese company said it was targeting a net production in the range of 450 million to 460 million barrels of oil equivalent for the year, with as much as 165 million barrels of that coming from projects outside of China.

Malaysia, North Korea exchange 'hostages,' resolving weeks of tensions

Authentic news,No fake news.

Malaysia's Foreign Minister Anifah Aman, sixth from right, walks with nine Malaysian citizens at Kuala Lumpur International Airport in Sepang, Malaysia on Friday. They were released after Kuala Lumpur agreed to send back the body of Kim Jong Nam. Photo courtesy of Fazry Ismail/EPA

March 31 (UPI) -- Malaysian nationals who were detained in North Korea returned home after three North Koreans were released and allowed to board a flight to Beijing.

The exchange ends weeks of tensions between Kuala Lumpur and Pyongyang that began after the older half-brother of Kim Jong Un was assassinated at a Malaysian airport.

The North Korean nationals, including Malaysia-based diplomat Hyon Kwang Song, boarded a flight to Beijing on Thursday and arrived at 3 a.m. Friday in China, according to Malaysia's China press.

An Air Koryo staff member and a third unidentified man accompanied Hyon, according to the report.

The three men then made their way to a black van waiting for them at the airport in Beijing, which presumably took them to the North Korean embassy.

Hyon was once suspected of planning the assassination.

Malaysia has also been cooperating with North Korea on the return of Kim Jong Nam's body, which may have arrived in Pyongyang, according to Chinese officials.

The return of the body was followed by the repatriation of nine Malaysian nationals, who arrived in their home country on Friday, according to the New Straits Times and Channel News Asia.

Mohd Nor Azrin, a Malaysian diplomat who was detained with this wife and three children in North Korea, expressed his relief upon arrival.

"I am very glad, very happy to be with our family members and loved ones. Once again I would like to thank the Malaysian government for putting so much effort to bring us back home," Mohd Nor Azrin said.

The diplomat added he was scared after being prohibited from leaving the country, but drew strength from the care and concern of his extended family.

The Malaysian counselor on North Korea added authorities in Pyongyang did not threaten him or his family and that he was able to speak to relatives by phone and on mobile apps.

The resolution of what was described as a hostage crisis in Malaysian news reports, however, does not mean the country will cut diplomatic ties with North Korea, according to Malaysia's prime minister.

Pakistani Taliban faction kills 22 in Shiite mosque bombing

Authentic news,No fake news.

People survey the site of a bomb blast near a Shiite Mosque in the Noor marketplace in Parachinar, Pakistan, on Friday. At least 22 people died and up to 70 were injured in the bombing of which Jamaat-ul-Ahrar, a faction of the Pakistani Taliban, took credit. Photo by STR/EPA

March 31 (UPI) -- At least 22 people died and dozens more were injured after an explosion outside a Shiite mosque as people gathered for Friday prayers in Parachinar, Pakistan, officials said.

Between 50 and 70 people were wounded in the blast, which happened in a busy Noor marketplace. A surgeon at a hospital in Parachinar told Dawn News the hospital registered 22 bodies, including women and children.

Jamaat-ul-Ahrar, a faction of the Pakistani Taliban, formally known as Tehrik-i-Taliban Pakistan, took responsibility for the attack.

Some officials said the explosion was likely caused by a car bomb left outside of the women's entrance of the mosque. At least five people who were injured are in a critical condition, Al Jazeera reported.

The Pakistani army deployed a helicopter to take those injured to a hospital. In a statement, the Pakistani Prime Minister's Office said Nawaz Sharif "strongly condemned the bomb blast ... that resulted into the loss of precious human lives and injured many others."

The office said Sharif sympathized with the affected families and prayed for the deceased and those injured. The office said Sharif "reiterated his government's unflinching resolve to eliminate the menace of terrorism from the country at all costs."

''The network of terrorists has already been broken and it is our national duty to continue this war until the complete annihilation of the scourge of terrorism from our soil," Sharif said in the statement

Reuters Select: Trump helps make cross-border M&A great again

Authentic news,No fake news.

Friday, March 31, 2017 Trump helps make cross-border M&A great again Cross-border M&A had its strongest start since 2007, driving first-quarter global volumes up 7 percent, as optimism over President Donald Trump's economic agenda buoyed the stock market and the dollar, making foreign acquisitions cheaper than some U.S. targets. Many U.S. CEOs are feeling richer and more confident thanks to a rally in their companies' stock, yet U.S. acquisition targets often feel they are worth a lot too, while uncertainty over Trump's tax policies makes planning a deal more difficult. Reuters' Lauren Hirsch and Greg Roumeliotis report. Einhorn's GM share double clutch poses challenge for some drivers Hedge fund manager David Einhorn's unusual plan to divide General Motors shares into two classes poses a corporate governance minefield for GM board members. The plan would create one class of stock for investors keen to capture GM's juicy dividend, and a second for those eager to bet on its growth potential. Reuters' Michael Flaherty reports on why this is a challenge. Trans-Paris Express A 90-minute train ride from the Gare de Lyon station in Paris traces a political gulf between big-city voters and the rest, a divide that has shaken up Britain and the United States and has an outside chance of doing the same in France's upcoming presidential election. Ride this train with Reuters reporters Ingrid Melander and Johnny Cotton. Russians develop taste for alcohol-free beer Russians are among the biggest drinkers of alcohol in the world, yet are developing a new taste for alcohol-free beer, which could help save a brewing industry that has stalled under government initiatives to discourage drinking. The trend, say people in the industry, is being driven by a move toward healthier lifestyles among Russian consumers, nudged by government measures that include restrictions on alcohol sales and tougher penalties for drunk-driving. Reuters' Maria Kiselyova reports. Terror threats transform China's Uighur heartland into security state Reuters' Philip Wen visits the old Silk Road city of Kashgar in far-western China, part of a region where Beijing says it faces a thread from Islamist extremists in this primarily Muslim Uighur region of the country. Wen observes a series of safety drills designed to help shopkeepers fight insurgent attacks, but critics say the drills are part of an oppressive security operation. Cuba needs more green to run on green Cuba, battling a chronic energy deficit, has all the sunshine, wind and sugar to fuel what should be a booming renewables sector - if only it could find the money. This has become a state priority Venezuela slashed subsidized oil shipments to the island. The financing puzzle is a crucial one to solve if Cuba is to hit its target of renewables filling 24 percent of its energy needs by 2030, up from 4 percent today, a strategy that would require billions of dollars in investment. Reuters' Sarah Marsh reports from Ciro Redondo. Reuters photo of the day Rocket Man meets Sky Pilot A recycled SpaceX Falcon 9 rocket soars toward space above a Virgin Airlines passenger jet, which had just departed Orlando International Airport. REUTERS/Gregg Newton

The Post Most:

Authentic news,No fake news.

Most Read Trump: ‘We must fight’ hard-line conservative Freedom Caucus in 2018 midterm elections There are about 32 members of the Freedom Caucus, most of them elected or reelected comfortably in solidly-Republican districts. By Philip Rucker  •  Read more » Who is ‘Source D’? The man said to be behind the Trump-Russia dossier’s most salacious claim. The story of Sergei Millian illustrates the challenge confronting the FBI as it seeks to separate fact from fiction. By Rosalind S. Helderman  •  Read more »   In Mexico, a man was cleared of raping a 17-year-old girl because he acted without ‘carnal intent’ This is what passes for justice in Mexico. By Amanda Erickson  •  Read more »   The Plum Line • Opinion Trump has nothing but contempt for facts and reality-based policy. Now it’s backfiring. The travel ban is put on hold again, after his health plan goes down in flames. By Greg Sargent  •  Read more »

ADVERTISEMENT

A look at latest ruling on Trump administration travel ban A federal judge in Hawaii who temporarily blocked President Donald Trump’s revised travel ban hours before it was set to take effect issued a longer-lasting order Wednesday. By Jennifer Sinco Kelleher | AP  •  Read more »   North Carolina lawmakers give first approval to deal replacing bathroom bill, setting up crucial vote The deal would repeal and replace the controversial measure, which has cost the state jobs and millions of dollars. By Mark Berman  •  Read more »   What to expect now that Internet providers can collect and sell your Web browser history No, you won't really be able to buy up President Trump's browser history By Brian Fung  •  Read more »   Hill Republicans trying to avert a shutdown need Democrats — and Trump Several said Wednesday that they have no interest in risking a showdown over Trump’s demand to begin funding a border wall in the near-term spending bill. By Kelsey Snell  •  Read more »   Omarosa Manigault is in Trump’s White House because of her loyalty. But what is she doing there? The former “Apprentice” star villain is one of the few African Americans in Trump’s inner circle. Some see her as an important ally. Others see her as a cover for the president. By Vanessa Williams  •  Read more »

Also Popular in Politics   The Fix • Analysis Here’s what we’ve learned from the Senate hearing on Russia so far The Senate Intelligence Committee held its first public hearing on Russia on Thursday. By Peter W. Stevenson  •  Read more » •   Analysis | ‘People were tired’: How North Carolina’s last-minute deal to repeal the bathroom bill came together •   Trump administration still plans to undo parts of the ACA, Tom Price testifies •   Analysis | Why Trump’s unpopularity is historically unique •   Analysis | Sean Spicer loses his cool: ‘Stop shaking your head’

Also Popular in Opinions   Rep. Adam Schiff: House panel’s Russia probe can’t continue under ‘cloud’ House Intelligence Committee's ranking Democrat says Devin Nunes's source was no 'whistleblower.' By David Ignatius  •  Read more » •   Jared Kushner’s to-do list keeps getting longer •   Four changes to save Trump’s presidency •   Trump’s coal policy will likely do just what Obama’s did •   The filibuster isn’t what it used to be. It’s time to bring the old way back.

Also Popular in Sports   USA Hockey players feel renewed outrage as North Dakota shuts down women’s team Just after the national team won a battle for major concessions from its national organization, women's hockey suffers a blow, with players decrying the way it was handled by the university. By Des Bieler  •  Read more » •   Nationals’ plans for their rotation becoming clear •   Sean McVay, the NFL’s youngest coach, is already making veteran moves with Rams •   Perspective | Raiders should leave their name behind in Oakland. How about ‘Las Vegas Sinners’? •   Marcin Gortat has been in a slump since the all-star break, but Wizards have ‘options’

Also Popular in National   Dog mauls owner to death during interview with BBC film crew The Staffordshire bull terrier had attacked its owner before. Still, a neighbor said he “loved the dog more than himself." By Derek Hawkins  •  Read more » •   A 13-year-old sobbed on camera when ICE took her father away. Now she has a plan. •   A university is eliminating its science collection — to expand a running track •   A detective claimed a one-legged woman threw a 200-pound body over a bridge. Now she’s suing him. •   Spacewalking astronauts lose piece of shielding, floats away

Also Popular in World •   ‘Build that wall?’ Some Canadians are calling for more border control, too •   Malaysia says Kim Jong Nam’s body released to North Korea •   An Indonesian man disappeared. Villagers found his body inside a 23-foot-long python. •   Trump administration sought to block Sally Yates from testifying to Congress on Russia •   In historic break, Britain plunges into Brexit with hard negotiations still to come

Also Popular in Business •   How this millennial saved $1 million by age 30 •   The House just voted to wipe away the FCC’s landmark Internet privacy protections •   These Hispanic contractors offered to build Trump’s border wall. Then the death threats began •   ‘There’s not a hope alive for us’: A factory Trump targeted begins its move to Mexico •   Analysis | Spiders could theoretically eat every human on Earth in one year

Also Popular in Technology •   The House just voted to wipe away the FCC’s landmark Internet privacy protections •   Hands-on with the Samsung Galaxy S8 and S8 Plus: As first impressions go, this is a doozy •   Republicans voted to roll back landmark FCC privacy rules. Here’s what you need to know. •   The FCC wants to block dozens of companies from providing low-cost Internet •   Samsung tries to reclaim its reputation with the Galaxy S8