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☆ South Korea midterms: Opposition wins landslide parliamentary vote in resounding blow to Yoon
▼ + stars: | 2024-04-10 | by ( Heather Chen | Story Reuters | ) edition.cnn.com time to read: +3 min

Seoul, South Korea CNN —South Korea’s liberal opposition parties scored a landslide victory in a parliamentary election held on Wednesday, dealing a resounding blow to President Yoon Suk Yeol and his conservative party but likely falling just short of a super majority. A splinter liberal party considered allied with the DP was expected to take at least 10 seats, projections showed. It marked the highest ever turnout for a parliamentary election, though the numbers were down from the 2022 presidential vote that narrowly brought Yoon to power. Lee Jae-myung, leader of the Democratic Party, watches election results at his district office in Incheon, South Korea, on Thursday, April 11, 2024. “Given his likely lame duck status, the temptation for Yoon will be to focus on foreign policy where he will still have statutory power,” Richey said.

Persons: Yoon Suk Yeol, Yoon Suk, Lee Jae, myung, Lee, Yoon, ”, Kim Keon Hee, SeongJoon Cho, Mason Richey, “, ” Richey Organizations: South Korea CNN, South, Democratic Party, National Election Commission, Dior, People Power Party, Election Commission, NEC, Bloomberg, Getty, Hankuk University of Foreign Studies Locations: Seoul, South Korea, Incheon

☆ South Koreans vote for new parliament after campaign focused on economy, graft
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +2 min

People watch the first sunrise of the new year from a footbridge overlooking the city skyline in Seoul on January 1, 2024. The opposition Democratic Party (DP), which already dominates the 300-member legislature, has accused Yoon and his conservative People Power Party (PPP) of mismanaging the economy and failing to rein in inflation during their time in office. PPP leader Han Dong-hoon said a big win by the DP, whose leader is facing corruption charges, would create a crisis for the country. He warned against giving the opposition an unprecedented super majority of 200 seats, which would strip Yoon of his veto power. "I hope the two-party structure will be broken somehow, and politicians will carry out practical policies for ordinary people."

Persons: Yoon Suk Yeol, Yoon, Han Dong, hoon, Kim Ji, yun, Jung Cheol, Cho Kuk Organizations: South, Election, Democratic Party, People Power Party, DP Locations: Seoul

☆ North Korea tests missile, Seoul says, ahead of vote seen as gauge of support for hardline South Korean leader
▼ + stars: | 2024-04-01 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

Seoul, South Korea CNN —North Korea test-fired a presumed intermediate-range ballistic missile on Tuesday, South Korean officials said, its latest military maneuver since leader Kim Jong Un’s New Year declaration that he was ending a policy seeking reconciliation with the South. Pyongyang’s shows of power included long-range artillery and multiple rocket launchers, which pose a threat to the South Korean capital Seoul and other key areas near the border. But Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul, said Tuesday’s suspected missile test by North Korea won’t have much effect on the vote. North Korean Foreign Minister Choe Son Hui last week quashed recent speculation that Kishida could meet with North Korea’s Kim. North Korea “will not allow any attempt of Japan to contact” Pyongyang, he said, according to KCNA.

Persons: Kim Jong, Yoon Suk Yeol, Kim, Yoon’s, Democratic Party –, Yoon, Leif, Eric Easley, ” Easley, Easley, Tuesday’s, Fumio Kishida, Joe Biden, Ferdinand Marcos Jr, Choe Son Hui, North Korea’s Kim, CNN’s Yoonjung Seo Organizations: South Korea CNN, North, South, Korean Central News Agency, CNN, Yoon’s People Power Party, Democratic Party, Ewha Womans University, Assembly, Korean, Philippine, North Korean Foreign, North Korea “ Locations: Seoul, South Korea, North Korea, Pyongyang, United States, North, Japan, Washington, China

☆ Shehbaz Sharif: Pakistani legislators elect new prime minister to head coalition
▼ + stars: | 2024-03-03 | by ( Azaz Syed | ) edition.cnn.com time to read: +1 min

Islamabad CNN —Pakistani legislators on Sunday elected Shehbaz Sharif as the country’s prime minister nearly a month after a general election marred by delays and widespread allegations of vote-rigging. The official results from the February 8 poll had independent candidates affiliated with former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party securing the most seats in parliament, with 102. The Pakistan Muslim League Nawaz party (PMLN), headed by former Prime Minister Nawaz Sharif who is also the older brother of Shehbaz Sharif, came in second with 73 seats, and their long-term rivals the Pakistan People’s Party (PPP) won 54 seats. Shehbaz Sharif will become prime minister for the second time, leading a coalition government with the PMLN. Following the vote in the lower house of parliament, opposition party members began chanting at Sharif as he addressed parliamentarians, calling him a thief.

Persons: Shehbaz Sharif, Imran Khan’s, Pakistan Muslim League Nawaz, Nawaz Sharif, Shehbaz, Sharif Organizations: Islamabad CNN, Sunday, Pakistan Muslim League, Pakistan People’s Party Locations: Islamabad, Imran Khan’s Pakistan, Shehbaz Sharif

The Pakistan Muslim League-Nawaz (PMLN) and the Pakistan People’s Party (PPP) announced the coalition late Tuesday, naming former premier Shehbaz Sharif as prime minister and Asif Ali Zardari as president. Aamir Qureshi/AFP/Getty ImagesIndependent candidates affiliated with former Prime Minister Khan’s Pakistan Tehereek-e-Insaf (PTI) party secured the most parliamentary seats, in a stunning victory for the jailed cricket icon. But none of the three major parties that contested won the necessary seats to declare a majority in parliament. Shortly after the coalition announcement, the PTI accused the PMLN and PPP of stealing their mandate to govern. Sharif is on course to become prime minister for the second time, with Asif Ali Zardari, the husband of Pakistan’s slain former leader Benazir Bhutto, by his side.

Persons: Imran Khan, Shehbaz Sharif, Asif Ali Zardari, “, ” Sharif, Aamir Qureshi, Khan’s, ”, Khan, Nawaz Sharif, Asim Hafeez, Sharif, Pakistan’s, Benazir Bhutto Organizations: Pakistan CNN —, Pakistan Muslim League, Nawaz, Pakistan People’s Party, Getty, PTI, Pakistan People's Party, Bloomberg Locations: Islamabad, Pakistan, Kasur, Punjab, Khan’s Pakistan, Karachi

As Prabowo Subianto looks set to succeed Joko Widodo as President, economic growth remains resilient and inflation has stayed low over the past year. But external risks, including Russia's war on Ukraine, continue to cloud the horizon. The World Bank warned in January that global growth will slow for the third consecutive year, to 2.4% in 2024, when the global economy may record the slowest half-decade of GDP growth in 30 years. The government remains hopeful of hitting its 5.2% target in 2024, said Coordinating Minister for Economic Affairs Airlangga Hartarto in early February, acknowledging the risks posed by global economic turmoil, such as the Ukraine-Russia conflict. Regional leadershipTo reach developed country status, a nation typically requires sustained annual economic growth of 7% for 15 consecutive years.

Persons: Prabowo, Joko Widodo, Krisna Gupta, Widodo, Economic Affairs Airlangga Hartarto, Sri Mulyani, Radityo Dharmaputra, Indonesia's Organizations: World Bank, State of, Global, Center, Indonesian, Center for Indonesian, Studies, Bank, Economic Affairs, for Economic Co, OECD, Universitas Airlangga, Ukraine, Insider Studios, Foreign, Commonwealth & Development Office Locations: Indonesia, Ukraine, State, Russia, Jakarta, Southeast Asia, Crimea, Subianto

☆ Coalition government deal in Pakistan leaves Imran Khan’s party out of power
▼ + stars: | 2024-02-13 | by ( Sophia Saifi | ) edition.cnn.com time to read: +3 min

Islamabad, Pakistan CNN —Two of Pakistan’s major political parties - the Pakistan Muslim League-Nawaz (PMLN) and the Pakistan People’s Party (PPP) - say they will form a coalition government after last week’s inconclusive elections. The move means the party of former Prime Minister Imran Khan will not be in power, despite independent candidates affiliated with it gaining the most votes. The PMLN also released a statement that Shahbaz Sharif would be the party’s candidate for prime minister. Earlier on Tuesday, the PPP’s chairman Bilawal Bhutto Zardari had said his party would support the PLMN candidate for prime minister. The party would also field its candidates for the National Assembly speaker, chairman of the Senate, and president, he said.

Persons: Imran Khan, Shahbaz Sharif, Asif Ali Zardari, Bilawal Bhutto Zardari, Imran Khan’s, Nawaz Sharif, Khan, ” Zardari, Sharif, “, ” Bhutto Zardari Organizations: Pakistan CNN —, Pakistan Muslim League, Nawaz, Pakistan People’s Party, PPP, PTI, National Assembly, Senate Locations: Islamabad, Pakistan, Lahore, Wahdat

While election winners were celebrating victory, PTI and other parties refused to accept their defeat in dozens of constituencies. Dozens of Khan’s supporters were briefly detained in the eastern city of Lahore over the weekend while protesting alleged vote-rigging. Khan could not run in the election because of the criminal convictions against him that he says are politically motivated. No party won a majority, however, so the parties will have to hold talks on forming a coalition government. The Pakistan Muslim League-N party led by three-time premier and ex-felon Nawaz Sharif secured 75.

Persons: Pakistan's, Imran Khan, Khan, Jan Achakzai, Nawaz Sharif, Sharif, Bilawal Bhutto, Zardari, establishment’s Organizations: National Assembly, Pakistan Muslim League, Pakistan People’s Party, PML Locations: QUETTA, Pakistan, Lahore, Baluchistan

ISLAMABAD (AP) — Allies of imprisoned Pakistani ex-premier Imran Khan won more seats in national elections than the political parties who ousted him from power nearly two years ago, according to a final tally of results published Sunday. Khan, who was kicked out of office through a no-confidence vote in parliament in 2022, has been in prison since last August. The final tally showed that independent candidates secured 101 out of 266 seats in the National Assembly, or lower house of parliament. The Pakistan People’s Party, or PPP, led by Bilawal Bhutto-Zardari, came in third with 54 seats. By Friday evening, seeing his party trail behind the independent candidates backed by Khan, he spoke of alliances and joining hands.

Persons: Imran Khan, Khan, Nawaz Sharif, Bilawal Bhutto, Zardari, Sharif, establishment's Organizations: —, PTI, Supreme, National Assembly, Pakistan Muslim League, Pakistan People’s Party, PML Locations: ISLAMABAD, Pakistani, Pakistan

☆ What's Next in Pakistan Election Deadlock
▼ + stars: | 2024-02-11 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

By Gibran Naiyyar PeshimamISLAMABAD (Reuters) - Pakistan's national election ended with no party winning a majority in parliament, in polls marred by militant violence, political turmoil and questions of transparency. The two, along with other smaller parties, form a coalition government in which Sharif or his brother is prime minister and important positions are given to other parties. The two parties were in government together for 16 months till August, with Bhutto Zardari as foreign minister and Sharif's brother Shehbaz as prime minister. BHUTTO ZARDARI PUSHES TO HEAD COALITION GOVERNMENTWhile Sharif and Khan's candidates won the most seats, no party can form government without the PPP. With both looking to keep the other out of power, the PPP strikes a deal to make the young Bhutto Zardari prime minister.

Persons: Gibran Naiyyar Peshimam, Nawaz Sharif, Imran Khan, SHARIF, Bilawal Bhutto Zardari, Benazir Bhutto, Bhutto Zardari, Shehbaz, Khan, BHUTTO ZARDARI, Sharif's, Gibran Peshimam, Sonali Paul Organizations: Monetary Fund, National Assembly, Pakistan Peoples Party Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, Pakistan

☆ Pakistan releases official election results, independents affiliated with Khan’s PTI secure most seats
▼ + stars: | 2024-02-10 | by ( Heather Chen | Sophia Saifi | ) edition.cnn.com time to read: +1 min

CNN —Pakistan’s official election results were announced by the election commission on Sunday, with independent candidates affiliated with former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party securing the most seats in parliament. According to the Election Commission of Pakistan, independent candidates won 102 seats. The majority of the independents are affiliated with Khan’s party, Pakistan Tehreek-e-Insaf (PTI). The Pakistan Muslim League Nawaz party (PMLN), headed by former Prime Minister Nawaz Sharif, came in second with 73 seats, and the Pakistan People’s Party (PPP) won 54 seats. The PTI party has called on party workers and supporters to hold protests on Sunday outside polling offices in constituencies where party members say election results were “withheld and delayed.”The capital Islamabad has imposed Section 144, allowing police to take legal action against any illegal assemblies and activities.

Persons: CNN —, Imran Khan’s, Pakistan Muslim League Nawaz, Nawaz Sharif Organizations: CNN, Pakistan Muslim League, Pakistan People’s Party, PTI Locations: Imran Khan’s Pakistan, Pakistan, Islamabad

If no party wins a majority of 169 seats, the one with the biggest share can form a coalition government. The vote was overshadowed by violence, an unprecedented national shutdown of all mobile phone services and allegations of vote rigging. Pakistan’s national human rights body said there was no excuse for the hold-up and expressed concern about the lack of transparency. DEALS, DEALS, DEALSNo party won a majority of National Assembly seats. She accompanied her father at rallies, giving fiery and uncompromising speeches, and escorted him on polling day when he went to cast his vote.

Persons: hadn't, Imran Khan's, Salman Akram Raja, hasn’t, Nawaz Sharif, kingmaker, Asif Ali Zardari, Bilawal Bhutto, Zardari, Bhutto, Nawaz Sharif’s, Maryam Nawaz Sharif, Benazir Bhutto, Benazir’s, Zulfikar Ali Bhutto, Maryam Nawaz, Bilawal, Maryam, Shehbaz, Hamza Organizations: —, National Assembly, U.S, Union, Court, Fair, PTI, Pakistan People’s Party, Nawaz Sharif’s Pakistan Muslim League Locations: LAHORE, Pakistan, — Pakistan, Lahore, Nawaz Sharif’s Pakistan, Punjab province

☆ How a Dior bag shook South Korean politics
▼ + stars: | 2024-02-09 | by ( Yoonjung Seo | Nectar Gan | ) edition.cnn.com time to read: +15 min

Seoul, South Korea CNN —South Korean President Yoon Suk Yeol is months out from a crucial election seen as a barometer of his mid-term popularity, but surveys show he has a big problem – the latest scandal surrounding his wife. “But with the Dior bag, there is this powerful visual evidence.”South Korean President Yoon Suk Yeol and his wife, Kim Keon Hee, attend an Independence Movement Day event in Seoul on March 1, 2023. The channel also provided Choi with the wristwatch and the Dior bag, according to the pastor. By appearing to not reject the bag, Kim gave ammunition to critics who have long accused her of using her position for personal gain. In a Gallup Korea survey last month, 56% of respondents said Kim should apologize for allegedly receiving the Dior bag.

Persons: Yoon Suk Yeol, Kim Keon Hee, Yoon, Kim, Dior, “, ”, Cho Hee, Jung Yeon, Choi Jae, Choi, Yoon Suk, ” Yoon, Shin Pyeong, ’, Cho, it’s, Hongik University Choi, Kim Yun, Park, hye, Patrick van Katwijk, Marie Antoinette, Han Dong, Han, he’d, Leon Neal, ” Kim, ” Kim Yun, Kyung Hee University “ She’s, Deutsch, Kim’s Organizations: South Korea CNN — South, CNN, Hongik University, “, Getty, of, KBS, Kyung Hee University . South, Gallup Korea, Gallup, Power Party, Democratic Party, PPP, South, Kyung Hee University, Kookmin University, Deutsch Motors, BMW Locations: Seoul, South Korea, American, of Seoul, North Korea, Pyongyang, Netherlands, Gallup Korea, Bali , Indonesia, Korea

☆ South Korea's Yoon Vows Clearer Rules After Wife's 'Dior Bag Scandal'
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

By Heekyong Yang and Josh SmithSEOUL (Reuters) - The release of hidden camera footage showing South Korea's first lady accepting a Dior bag as a gift was a "political manoeuvre", President Yoon Suk Yeol said on Wednesday, but vowed to draw clearer lines to ensure such incidents do not happen again. The comments were his first public response to a controversy, dubbed the "Dior bag scandal" by local media, that has roiled his ruling party ahead of a key election in April. "What's important is to set clearer boundaries with others to prevent something like this from happening in the future." A Gallup Korea weekly poll on Friday showed that Yoon's approval ratings had fallen to 29%, the lowest in nine months. (Reporting by Heekyong Yang and Josh Smith; Additional reporting by Ju-min Park, Editing by Kylie MacLellan)

Persons: Heekyong Yang, Josh Smith SEOUL, Dior, Yoon Suk Yeol, Kim Keon Hee, Yoon, it's, Kim's, Abraham Choi, Josh Smith, Kylie MacLellan Organizations: People Power Party, KBS, Reuters, Gallup Korea Locations: North Korea, April's

☆ Costs, Crackdown Put a Damper on Pakistan's Election Campaigns
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Ariba ShahidKARACHI (Reuters) - Higher living costs and political uncertainty have muted Pakistan's once boisterous election campaigns, with both candidates and those who supply them with materials bemoaning the need to do more with much less. Syed Arsalan Haider, a Karachi printer, said the cost of a square foot of banner was up by 130% since the last election. Khan, whose party won the last election, says the military wants to keep him from power, which the military denies. Meherbano Qureshi, a PTI candidate and daughter of the party's jailed vice chairman Shah Mehmood Qureshi, said people were scared to show their support and hang campaign material. (Reporting by Ariba Shahid in Karachi and Mubasher Bukhari in Lahore; Editing by YP Rajesh and Miral Fahmy)

Persons: Shahid, Imran Khan, Jawad Jiwani, Syed Arsalan Haider, Abdul Aziz, Taj Haider, Bilawal Bhutto Zardari, Faisal Subzwari, Khan, Meherbano Qureshi, Shah Mehmood Qureshi, Khurram Sher Zaman, They're, Ariba Shahid, Mubasher Bukhari, YP Rajesh, Miral Organizations: Monetary Fund, Pakistan People's Party, PTI, Mubasher, YP Locations: Shahid KARACHI, Pakistan, Karachi, festooned, Lahore

☆ 'Mnuchin has not been in the room': Trump Treasury secretary absent from 2024 campaign
▼ + stars: | 2024-01-04 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

After serving in the Trump administration for four years, former Treasury Secretary Steven Mnuchin is keeping his distance from the Republican former president and his campaign, according to people familiar with the matter. "Mnuchin has not been in the room," said Stephen Moore, a conservative economist who is advising Trump. A person close to Mnuchin who was granted anonymity in order to recount private conversations, said Mnuchin supports Trump's 2024 run for president. In 2016, Mnuchin was Trump's national finance chairman during his first run for the White House. For now, Mnuchin's private equity firm, Liberty Strategic Capital, takes up most of his time, people close to the former secretary told CNBC.

Persons: Steven Mnuchin, Donald Trump, Ivanka Trump, Trump, Mnuchin, Stephen Moore, it's, Larry Kudlow, Bob Lighthizer, Trump's, Joe Biden's, Hillary Clinton, Mike Pompeo, Mike Pence Organizations: White House, White, Republican, Trump, Fox Business, National Economic Council, NBC News, Liberty Strategic Capital, CNBC, East . Press, Capitol, The Washington Post Locations: Washington , U.S, United States, East

☆ IMF reaches deal with Kenya to raise current financing by $938 million
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

A view shows the Nairobi Expressway undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, in Nairobi, Kenya May 8, 2022. REUTERS/Thomas Mukoya/File Photo Acquire Licensing RightsNAIROBI, Nov 16 (Reuters) - The International Monetary Fund has reached a staff-level agreement with Kenya for immediate access of $682.3 million and an increase in its current program's funding by $938 million, the fund said on Thursday. That will include a new augmentation to Kenya's access under the financing program by an equivalent amount of $938 million. The facility was bumped up in May by an extra $1 billion, including $544 million under the Resilience and Sustainability Facility (RSF), and a new arrangement under the same RSF. Writing by George Obulutsa; Additional reporting by Bangalore Newsroom; Editing by Duncan Miriri and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Mukoya, George Obulutsa, Duncan Miriri Organizations: China, Bridge Corporation, REUTERS, Rights, Monetary Fund, East, Fund, Resilience, Sustainability, Bangalore, Thomson Locations: Nairobi, Kenya, Rights NAIROBI

Underscoring the frustration, Economy Minister Robert Habeck, a member of the pro-spending Greens, called the verdict "a huge blow to industrial policy". Speaking to parliament, Habeck warned the court ruling put at risk support for the steel sector, which is counting on subsidies to decarbonise and stay competitive. Finance Minister Christian Lindner meanwhile said it was too early to discuss the consequences of the court ruling. "The steel industry alone can contribute to reducing a third of total industrial emissions - and thus has enormous leverage to save millions of tons of CO2 in the coming years." "The political bottom line is that many coalition disputes will reopen as serious budget constraints kick in.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, BERLIN, Wednesday's, Chancellor Olaf Scholz, Habeck, Yesenn, DBRS Morningstar, hawkish Lindner, Lindner, Bernhard Osburg, Carsten Brzeski, Eurointelligence, Maria Martinez, Christian Kraemer, Andreas Rinke, Markus Wacket, Tom Kaeckenhoff, Matthias Williams, Alexandra Hudson, Susan Fenton Organizations: Finance, Climate, Economy, Greens, CHANGE, Budget, European Central Bank, Thomson Locations: United States, Berlin, Germany

☆ Exclusive: China orders local governments to cut exposure to public-private projects as debt risks rise, sources say
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +5 min

The guidelines were mentioned in a cabinet document that was circulated among local governments, policy banks and state lenders last month, said the two sources with knowledge of the matter. The move comes after numerous local governments' PPP expenditure hit the upper limit of the threshold in recent years. But the PPP boom has alarmed authorities who say some local governments have used public-private partnerships, government investment funds and government procurement services as "disguised channels" for raising debt. The State Council and the NAO did not immediately respond to Reuters requests for comments. A portion of the $12.6 trillion local government debt is linked to the PPP projects, as municipalities used these infrastructure-building initiatives as a conduit to raise capital.

Persons: Thomas Peter, NAO, Kevin Yao, Ziyi Tang, Sumeet Chatterjee Organizations: Central Business District, National People's Congress, REUTERS, Rights, International Monetary Fund, National Audit, State, State Council, Bank of, Reuters, National Development, Reform Commission, Thomson Locations: Beijing, China, Rights BEIJING, Bank of China

☆ A tennis center owner in Santa Monica changed his entire business to capitalize on the pickleball surge in America. It was a 'huge risk' but his revenue numbers have doubled and his court has never be
▼ + stars: | 2023-10-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +16 min

Former collegiate coach Jon Neeter bought a tennis center in Santa Monica, CA for $40,000 in 2010. He converted his single tennis court into four pickleball courts and business is booming. Plus, he liked the idea of his work being concentrated in one place, rather than scattered at various tennis courts all over LA. A standard pickleball court is 20 feet wide by 44 feet long, much smaller than a tennis court. Plus, he was unsure about how he was going to replicate the Santa Monica Tennis Center anywhere else in LA.

Persons: Jon Neeter, —, Neeter, Jon Arend, Arend, who's, he'd, Sam Querrey, didn't, I'd, they'd, He's, there's, he's Organizations: Service, beachy Santa, Santa, Duke University, Palisades Tennis Center, LA, Santa Monica Tennis Center, Santa Monica Pickleball Center, Neeter Locations: Santa Monica , CA, Wilshire, Los Angeles, LA, Santa Monica, New Jersey, California, West LA, Southern California, pickleball

☆ Kenya to ask China for $1 bln loan to complete road projects, longer debt repayments
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

A view shows the Jomo Kenyatta International Airport toll station on the Nairobi Expressway undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, along Mombasa road in Embakasi district of Nairobi, Kenya May 7, 2023. REUTERS/Thomas Mukoya/File Photo Acquire Licensing RightsNAIROBI, Oct 6 (Reuters) - Kenya's President William Ruto will ask China for a $1 billion loan to complete stalled road construction projects when he travels to Beijing later this month, his deputy said on Friday. "At the moment we are paying debt and people are not using roads because many of them are half finished," Gachagua said. Kenya owes China more than $8 billion in loans for infrastructure projects such as railways and roads. Reporting by Duncan Miriri and George Obulutsa; Editing by Mark Potter and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Mukoya, William Ruto, Ruto, Rigathi Gachagua, Gachagua, Duncan Miriri, George Obulutsa, Mark Potter, Kim Coghill Organizations: Jomo Kenyatta International Airport, China, Bridge Corporation, REUTERS, Rights, Thomson Locations: Nairobi, Mombasa, Embakasi district, Kenya, Rights NAIROBI, Beijing, East, China

☆ Just 5% of New Jersey Democrats would support Sen. Bob Menendez in a future primary contest, new poll finds
▼ + stars: | 2023-10-05 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Sen. Bob Menendez is viewed favorably by just 14% of New Jersey Democrats, according to a new poll. But New Jersey Democrats are ready to toss him out: a poll released Thursday found that as few as 5% of Democratic respondents would support the indicted lawmaker in a future primary contest. That sets up the possibility of a contested primary race in June 2024. In a contest where New Jersey First Lady Tammy Murphy enters the race, Menendez seems to find himself in an even worse position, based on the poll. AdvertisementAdvertisementThe results are a marked contrast from polling of likely Republican presidential primary voters who must also weigh an indicted candidate's chances.

Persons: Sen, Bob Menendez, Andy Kim, Menendez, —, it's, Kim, Tammy Murphy, Murphy, candidate's, Donald Trump Organizations: New, New Jersey Democrats, Democratic, Service, Public, Monmouth University, GOP Locations: New Jersey

☆ CreditNinja, which has charged loan customers an interest rate of 447%, is complaining that their $1 million PPP loan forgiveness request was rejected
▼ + stars: | 2023-09-23 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Short-term lending company CreditNinja is mad about the SBA denying them loan forgiveness. The company charges interest rates as high as 447% in Texas, per KHOU. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. According to Forbes, Kanye West's fashion company Yeezy received over $2 million in PPP loans. Artist Jeff Koons, also notably rich, received a $1.1 million PPP loan in April 2020, according to ProPublica.

Persons: Seamus Hughes's CourtWatch, CreditNinja, CreditNinja wasn't, —, Kanye, Yeezy, Jeff Koons Organizations: SBA, Service, Court, Southern Division, Small Business Association, Relief, Economic, Forbes Locations: Texas, Wall, Silicon, Illinois

☆ A former biology teacher who bought a small-town bookstore explains how she made the business profitable and competes with behemoths like Amazon
▼ + stars: | 2023-09-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Outside the front door of Main Street Books sits a three-tiered cart with neatly stacked brown bags filled with books. The "Curbside Pickup" cart, which sits outside Main Street Books, was born out of the coronavirus pandemic. Courtesy of Main Street BooksMain Street Books is on Main Street in Davidson, North Carolina, nestled between another local business, Summit Coffee, and a Fifth Third Bank. In 2018, the best-selling author David Sedaris came to Main Street Books for a reading. When the COVID-19 pandemic hit in March 2020, like most businesses, Main Street Books was forced to close.

Persons: Adah Fitzgerald, she's, she'd, —, bookstore's, They're, it's, Fitzgerald, — Barbara Freund, Betty Reinke —, stepdad, David Sedaris, Fitzgerald didn't, That's, Andrea Jasmin, Beth Helfrich, Catherine Edmondson, Kendra Adachi, QuickBooks Organizations: Small, Service, Fifth Third Bank, Books, Woodlawn School, Davidson College, Street Books, American Booksellers Association Locations: breakeven, Davidson , North Carolina, Davidson

☆ Russia's massive brain drain is ravaging the economy - these stunning figures show why it will soon be smaller than Indonesia's
▼ + stars: | 2023-09-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Russia's war on Ukraine has fueled a massive brain drain that will hobble Putin's economy. Russia's GDP, as measured by purchasing power parity, will fall behind Indonesia's in 2026. "But Russia's slide and Indonesia's ascent are both driven in large part by the same thing: people. Russia is suffering from acute brain drain while Indonesia's labor force is growing," the Council wrote. Not only is Indonesia's labor force increasing, but the influx of highly skilled workers has helped boost private consumption standards in the country, it added.

Persons: Vladimir Putin, That's, would've, Putin, Indonesia's Organizations: Service, Workers, French Institute of International Relations, Kremlin, Atlantic Council Locations: Ukraine, Russia, Indonesia's, Wall, Silicon, Russian, Soviet, Indonesia, China, Beijing

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