Friday, November 5, 2021

A landmark $1tn (£741bn) infrastructure spending package in US Congress

A landmark $1tn (£741bn) infrastructure spending package in US Congress
The US Congress has passed a landmark $1tn (£741bn) infrastructure spending package, delivering a major domestic win to President Joe Biden. Negotiations over the sweeping public works bill - which passed the House of Representatives with 228-206 vote - created a bitter split among Democrats.

Meanwhile the House is moving forward with a more ambitious social spending bill favoured by liberal lawmakers.

The infrastructure package now heads to Mr Biden's desk to be signed into law.

Billed as a "once-in-a-generation" spending measure, the infrastructure legislation proposes $550bn in direct federal expenditure to upgrade highways, roads and bridges, and to modernise city transit systems and passenger rail networks.

The agreement also sets aside funding for clean energy, clean drinking water and high speed internet.Three months ago, 19 Republicans joined with Democrats to approve the legislation in the evenly split Senate, a rare bipartisan feat in an increasingly divided Congress.

On Friday the bill passed the House with support from 13 Republicans, too. But more liberal lawmakers balked at its final version, complaining that key liberal policies had been dropped in exchange for the bipartisan win.

Six Democrats voted against it, including Alexandria Ocasio-Cortez of New York and Ilhan Omar of Minnesota. The group of six - dubbed The Squad - are among the most left-wing and progressive members of the House.

Members of the Congressional Progressive Caucus pledged they would not support the infrastructure bill until they had voted on a separate social welfare bill that allocates $1.75tn for healthcare, education and climate change initiatives.

Democrats control both chambers of Congress by very slim majorities, so near-universal support would be required for the bill's passage.



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Instagram has supported to preview Twitter links on wall

Instagram has supported to preview Twitter links on wall
Instagram has brought back support for Twitter card previews after removing the feature nine years ago. Now, when users share an Instagram link on Twitter, a small preview of the post will be displayed.

Instagram controversially removed the feature shortly after being acquired by Facebook in 2012. Twitter card previews started for some users on Wednesday and will eventually be available to everyone. Instagram and Twitter are both promoting the change.

"If you want to share your latest Instagram post on the Twitter timeline too, you're in luck: now when you share a link to an IG post in a tweet, it'll show up as a card with a preview of the photo," read a tweet on Twitter's official support account.

Instagram sparked controversy with users when it removed support for Twitter cards in 2012.

The platform said that it wanted to take back control of its content following its merger with Facebook.

Instagram co-founder Kevin Systrom insisted at the time that the mandate came from himself, and not Facebook owner Mark Zuckerberg.

He said Instagram was attempting to grow its web platform and shared hopes that the move would help increase traffic.

 


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Rahul blitz keeps India alive with crushing win over Scotland

Rahul blitz keeps India alive with crushing win over Scotland
KL Rahul's 50 off 19 balls helped India stay alive in the Twenty20 World Cup with an eight-wicket thrashing of Scotland inside seven overs on Friday.

Ravindra Jadeja and Mohammed Shami took three wickets each to help bowl out Scotland for 85 in 17.4 overs after India put the opposition into bat in the Super 12 contest in Dubai.

Rahul and Rohit Sharma, who hit 30, then took the Scotland bowling apart as India raced to their target in 6.3 overs to radically improve their run-rate.

They still need to win their last game against Namibia on Monday and depend on the result of Sunday's New Zealand-Afghanistan match to have any chance of making the final four.

Rahul smashed six fours and three sixes in his batting blitz as he raised the fifty in 18 balls before getting out to Mark Watt.

Sharma fell lbw to Brad Wheal who ended the 70-run opening stand.

Suryakumar Yadav hit the winning six with skipper Virat Kohli, on his 33rd birthday, relishing the huge win at the other end.

Pace spearhead Jasprit Bumrah bowled Scotland captain Kyle Coetzer after the batsman's seven-ball struggle at the crease. It was a maiden wicket for Bumrah.

George Munsey counter-attacked as he smashed Ravichandran Ashwin for three successive boundaries but Shami cut short the opener's stay on 24.

Jadeja came on to bowl after the first six overs of powerplay and made an instant impact with twin strikes to send back Richie Berrington, bowled without scoring a run, and Matthew Cross trapped lbw for two.

With Scotland's top four back in the dugout at 29, Calum MacLeod and Michael Leask put up some resistance during a 29-run stand.

Jadeja broke through with his left-arm spin as he sent back Leask lbw for 21 and Ashwin got Chris Greaves for one.

MacLeod, who made 16, and Mark Watt also attempted to bring some respect to the total but Shami returned to pick up two wickets in one over and Bumrah wrapped up the innings in 17.4 overs.

Earlier on Friday, New Zealand stayed on course for the semi-finals with a 52-run win over Namibia.

Group 2 leaders Pakistan have already made sure of a semi-final place with four wins in four games.



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PM Imran 'misleading' nation on petrol price hike: PML-N

PML-N leader Shahid Khaqan Abbasi
PML-N leader Ahsan Iqbal joined many others in denouncing the government on Friday over the recent hike in petrol prices, saying Prime Minister Imran Khan was "misleading the nation" on the matter.

He referred to the premier's address at a public gathering earlier in the day, where the latter had said that the rise in inflation and prices of commodities was a consequence of the increase in prices globally.

Prime Minister Imran had explained that inflation had occurred globally due to the Covid-19 pandemic causing various issues such as supply shortages, trade closure, lockdowns, and reduced buying and selling.

Addressing a press conference in Islamabad, Iqbal said, "I want to clarify a few things that the prime minister said today to mislead the nation.

"This rise in the price of petrol in the country is in no way linked to the increase in the prices [of fuel] internationally."

Noting that the price of fuel was around $65 per barrel on average in 2018, he said over the course of three years, the rate had risen by around merely $2 or three per cent to $67.

And in May 2018, when his party completed its term in the government and the PTI was elected, petrol was being sold at Rs87 per litre, he said, adding that the price had increased drastically in just three years to reach around Rs145 per litre.

"Internationally, the fuel price increases by just three per cent, and here it jacks up by 66pc," the PML-N leader pointed out.

Hence, he added, the rise in petrol price in Pakistan was not a consequence of an increase in prices internationally, but the devaluation of the rupee was caused by the incumbent government's "inefficiency and wrong decisions".

The PML-N leader said because of the rupee's devaluation, the price of every commodity being imported would increase.

"And when the price of [imported] fuel increases, there will be a rise in electricity and gas prices. It's a chain, and eventually the price of other commodities would soar as well," he added.

Giving India's example, he said the government there had decreased the prices of petrol and diesel yesterday (Thursday) by reducing duties.

But in Pakistan, the government increased the duty on the commodities to increase the prices of petrol and diesel in "the darkness of the night to further burden the people with inflation", he alleged.

Iqbal further criticised the government for its alleged lack of planning, contrary to what the prime minister claimed.

'Govt's failure'

Former prime minister and PML-N leader Shahid Khaqan Abbasi, who also spoke on the occasion, termed the spiralling inflation a "failure of the government".

He said over the past three days, the price of not just petrol, but also of other commodities such as eggs, potatoes and onions had increased manifold.

"This is the situation of this country and the condition of this government today," he added.

Referring to a relief package recently announced by Prime Minister Imran to mitigate the impact of inflation, Abbasi questioned from where the funds for the Rs120 billion programme were to be arranged.

"This all is just for the show. It is a deception with the nation."

Abbasi also regretted that the parliament, where the issue of inflation could be deliberated upon to find a solution, had been "deliberately paralysed".

"We were compelled to hold a press conference to highlight this important issue, as there was a bar on speaking in the parliament," he said.

Referring to Prime Minister Imran's speech a day ago, he quoted the premier as saying that the latter would not shake hands with the "corrupt" opposition.

"But then why does he shake hands with those in his cabinet?" Abbasi questioned, alleging the involvement of cabinet members in sugar and drug mafias.

He also accused the government of amending the National Accountability Ordinance so as not to be held accountable for their misdeeds.

Abbasi termed "giving people the right to decide their fate once again" as the only solution to the ongoing crisis of inflation.

"It is the need of the hour," he stressed, saying the growing inflation was a consequence of a "hybrid regime" and a "stolen election".

He said the only answer to the crisis was "free and fair elections".

Petrol price hike

The government has been facing severe criticism from the opposition, particularly after Prime Minister Imran approved a Rs10 increase in the price of petrol last month. Major opposition parties, including the PML-N and the PPP, have held countrywide rallies and protests over what they term "unprecedented inflation in the country".

The criticism intensified today after the government announced a further increase of up to Rs8.14 per litre in petroleum prices in the early hours of Friday.

The decision was announced after 1:30am by the Ministry of Finance.

According to the notification, the ex-depot price of petrol was fixed at Rs145.82 per litre, showing an increase of Rs8.03. The ex-depot price of high-speed diesel was fixed at Rs142.62 per litre, up Rs8.14.

The government had earlier decided to keep the prices unchanged in "public interest".



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Turkish lira edges near record lows as policy concerns linger

Turkish lira edges near record lows as policy concerns linger
The Turkish lira weakened by 0.5% on Friday as investor concerns persisted over the combination of lower rates and higher inflation, and after the government denied a newspaper report that the finance minister had offered his resignation.

The resignation speculation played little role in market activity, traders said, pointing rather to the firmer dollar that was pushing the lira to near an all-time low of 9.85 touched late last month.

The currency weakened as much as 0.6% to 9.75 against the greenback and stood at 9.7200 at 0818 GMT.

It has lost some 23% of its value so far this year, hurt primarily by what analysts have called premature monetery easing in the face of inflation running near 20%.

The central bank has cut its policy interest rate by a total of 300 basis points since September, sending the lira to a series of record lows against the dollar.

Presidential communications director Fahrettin Altun denied a Cumhuriyet newspaper story on Friday that Treasury and Finance Minister Lutfi Elvan had offered his resignation and that President Tayyip Erdogan had not accepted the offer.

"Our Treasury and Finance Minister Lutfi Elvan is carrying out his duties. The story here is a lie," Altun wrote on Twitter.

In a speech on Thursday evening, Elvan dismissed some analysts' view that the government sought a weak lira to support exports. He said Turkey had a floating exchange rate policy and that the market set the currency's value.

Elvan said there had been volatility in financial markets in the last two months under the impact of global developments, with movement seen in market rates, asset prices and the exchange rate after Turkey's rate cuts.

The central bank surprised markets in September by starting the easing cycle despite inflation rising to a 2-1/2-year high.



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New Zealand boost semi-final hopes with Namibia win

New Zealand boost semi-final hopes with Namibia win
New Zealand defeated Namibia by 52 runs on Friday to move closer to the T20 World Cup semi-finals.

Glenn Phillips and Jimmy Neesham plundered 67 runs off the last four overs as New Zealand made 163-4 after being put into bat.

In reply, Namibia were well set at 47-0 in the eighth over before they faded to 111-7.

New Zealand have six points, two ahead of Afghanistan and four in front of India who must win both their remaining games, and improve their run rate, to have any chance of making the semi-finals.

Pakistan have already booked their place in the last four from Group 2.

Pre-tournament favourites India face Scotland in Dubai later Friday.

"We knew what to expect here, it was a real scrap," said New Zealand captain Kane Williamson.

Phillips hit an undefeated 39 off 21 balls with one four and three sixes while man-of-the-match Neesham made 35 from 23 deliveries with a boundary and two sixes.

The Black Caps, who face fellow semi-final hopefuls Afghanistan on Sunday, were struggling at 96-4 off 16 overs after being put into bat by Namibia, the lowest-ranked team in the tournament.

But Namibia lost their discipline with 21 coming off the 18th over bowled by David Wiese and 18 taken from a wild 10-ball final over from JJ Smit.

Namibia had limited New Zealand to 62-2 at the halfway point after winning the toss and electing to field.

One of the early wickets to fall was opener Martin Guptill who had smashed 93 in the 16-run win over Scotland last time out.

Namibia saw openers Michael van Lingen (25) and Stephan Baard (21) make a steady start, helping their team reach 56-3 at the midway point.

But experienced seamers Tim Southee (2-15) and Trent Boult (2-20) applied the brakes as Namibia were only able to add 55 more runs off the last 10 overs.

"Afghanistan are a really, really strong side," added Williamson of their next opponents who are still in the hunt for a semi-final place.

"They have done so well in this tournament and have got match-winners throughout their side. So we are looking forward to playing them."

Namibia have one win in the Super 12s courtesy of beating Scotland.

They bring the curtain down on the group stage on Monday when they tackle India.

"We did well for 15-16 overs in the middle today but the death overs didn't go our way," said captain Gerhard Erasmus.

"We have got one more game to nail against India.

"It was quite a tough pitch, 160 was a bit too much today."



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PM Imran 'misleading' nation on petrol price hike: PML-N

PML-N leader Shahid Khaqan Abbasi
PML-N leader Ahsan Iqbal joined many others in denouncing the government on Friday over the recent hike in petrol prices, saying Prime Minister Imran Khan was "misleading the nation" on the matter.

He referred to the premier's address at a public gathering earlier in the day, where the latter had said that the rise in inflation and prices of commodities was a consequence of the increase in prices globally.

Prime Minister Imran had explained that inflation had occurred globally due to the Covid-19 pandemic causing various issues such as supply shortages, trade closure, lockdowns, and reduced buying and selling.

Addressing a press conference in Islamabad, Iqbal said, "I want to clarify a few things that the prime minister said today to mislead the nation.

"This rise in the price of petrol in the country is in no way linked to the increase in the prices [of fuel] internationally."

Noting that the price of fuel was around $65 per barrel on average in 2018, he said over the course of three years, the rate had risen by around merely $2 or three per cent to $67.

And in May 2018, when his party completed its term in the government and the PTI was elected, petrol was being sold at Rs87 per litre, he said, adding that the price had increased drastically in just three years to reach around Rs145 per litre.

"Internationally, the fuel price increases by just three per cent, and here it jacks up by 66pc," the PML-N leader pointed out.

Hence, he added, the rise in petrol price in Pakistan was not a consequence of an increase in prices internationally, but the devaluation of the rupee was caused by the incumbent government's "inefficiency and wrong decisions".

The PML-N leader said because of the rupee's devaluation, the price of every commodity being imported would increase.

"And when the price of [imported] fuel increases, there will be a rise in electricity and gas prices. It's a chain, and eventually the price of other commodities would soar as well," he added.

Giving India's example, he said the government there had decreased the prices of petrol and diesel yesterday (Thursday) by reducing duties.

But in Pakistan, the government increased the duty on the commodities to increase the prices of petrol and diesel in "the darkness of the night to further burden the people with inflation", he alleged.

Iqbal further criticised the government for its alleged lack of planning, contrary to what the prime minister claimed.

'Govt's failure'

Former prime minister and PML-N leader Shahid Khaqan Abbasi, who also spoke on the occasion, termed the spiralling inflation a "failure of the government".

He said over the past three days, the price of not just petrol, but also of other commodities such as eggs, potatoes and onions had increased manifold.

"This is the situation of this country and the condition of this government today," he added.

Referring to a relief package recently announced by Prime Minister Imran to mitigate the impact of inflation, Abbasi questioned from where the funds for the Rs120 billion programme were to be arranged.

"This all is just for the show. It is a deception with the nation."

Abbasi also regretted that the parliament, where the issue of inflation could be deliberated upon to find a solution, had been "deliberately paralysed".

"We were compelled to hold a press conference to highlight this important issue, as there was a bar on speaking in the parliament," he said.

Referring to Prime Minister Imran's speech a day ago, he quoted the premier as saying that the latter would not shake hands with the "corrupt" opposition.

"But then why does he shake hands with those in his cabinet?" Abbasi questioned, alleging the involvement of cabinet members in sugar and drug mafias.

He also accused the government of amending the National Accountability Ordinance so as not to be held accountable for their misdeeds.

Abbasi termed "giving people the right to decide their fate once again" as the only solution to the ongoing crisis of inflation.

"It is the need of the hour," he stressed, saying the growing inflation was a consequence of a "hybrid regime" and a "stolen election".

He said the only answer to the crisis was "free and fair elections".

Petrol price hike

The government has been facing severe criticism from the opposition, particularly after Prime Minister Imran approved a Rs10 increase in the price of petrol last month. Major opposition parties, including the PML-N and the PPP, have held countrywide rallies and protests over what they term "unprecedented inflation in the country".

The criticism intensified today after the government announced a further increase of up to Rs8.14 per litre in petroleum prices in the early hours of Friday.

The decision was announced after 1:30am by the Ministry of Finance.

According to the notification, the ex-depot price of petrol was fixed at Rs145.82 per litre, showing an increase of Rs8.03. The ex-depot price of high-speed diesel was fixed at Rs142.62 per litre, up Rs8.14.

The government had earlier decided to keep the prices unchanged in "public interest".



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Islamabad court dismisses Gill’s bail plea in sedition case

A District and Sessions court of Islamabad dismissed the post arrest bail petition of PTI leader Shahbaz Gill on Tuesday. Additional Dist...