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Category: Економіка

ГПУ очікує рішення щодо можливої видачі Каськова Україні менш ніж за півроку – Єнін

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Заступник Генерального прокурора України Євген Єнін заявив, що очікує протягом 1,5 місяця рішення суду у Панамі щодо можливого відновлення процедури екстрадиційної перевірки у справі колишнього голови Державного агентства з питань залучення інвестицій Владислава Каськова.

Про це він сказав в ефірі «5 каналу».

«Після того, як перевірку буде відновлено, протягом 2-3 місяців панамська влада обіцяє нам остаточне рішення з цього питання (видача Каськова Україні – ред.)», – зазначив Єнін.

Наприкінці березня він повідомляв про відмову у політичному притулку Владиславові Каськову з боку панамської влади.

Восени минулого року стало відомо про затримання Каськова в Панамі.

Владислав Каськів обіймав посаду голови Держагентства з інвестицій та управління національними проектами України у 2010–2014 роках.

Наприкінці березня 2016 року його оголосили в розшук. За даними ГПУ, Каськів розшукується за злочини, передбачені статтями Кримінального кодексу України «заволодіння чужим майном шляхом зловживання  особою своїм службовим становищем, вчинене за попередньою змовою групою осіб, у особливо великих розмірах» і «службове підроблення, що спричинило тяжкі наслідки».

Як заявляв міністр внутрішніх справ Арсен Аваков, Каськів вивів із України 255 мільйонів гривень.

 

 

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У Кривому Розі шахтарі, які не виходили із забою, вимагаючи підвищення зарплати, піднялись на поверхню – профспілка

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У Кривому Розі працівники двох шахт ПАТ «Криворізький залізорудний комбінат» – «Батьківщина» та «Тернівська», які не виходили із забою, вимагаючи підвищення зарплати, після переговорів з керівництвом підприємства піднялись на поверхню. Про це Радіо Свобода повідомив голова міської організації Незалежної профспілки гірників України Юрій Самойлов.

За його даними, генеральний директор підприємства Федір Караманиць особисто спілкувався з шахтарями, які не виходили із забою і проводили під землею збори трудових колективів. Як поінформував Юрій Самойлов, переговори завершились домовленостями щодо поетапного збільшення заробітної плати на підприємстві, починаючи з травня.

«Від травня планується підвищення заробітної плати на 20%, з серпня – ще на 30%. Також планується поступове підвищення середньої зарплати до 25 тисяч гривень для основних категорій професій. З 11 травня збереться робоча група за участі представників трудових колективів та адміністрації підприємства для розроблення графіку підвищення заробітної плати. Єдине, оскільки це стихійна акція, тому частина шахт уже провела переговори, а частина ще в процесі», – сказав Юрій Самойлов.

За словами гірників шахти «Тернівська», з якими вдалось поспілкуватись Радіо Свобода, працівники нічної зміни вже вийшли на поверхню, робота шахти впродовж дня не зупинялась.

«Робота жодної з шахт сьогодні не припинялась, гірники відчувають свою відповідальність за робочий процес. Водночас трудові колективи залишають за собою право у випадку не знаходження порозуміння з адміністрацією провести повторні збори на робочих місцях», – сказали шахтарі.

На Криворізькому залізорудному комбінаті Радіо Свобода підтвердили сам факт переговорів з робітниками, однак докладних коментарів поки не надали.

У четвер в Кривому Розі після нічної зміни не вийшли на поверхню близько 400 працівників чотирьох шах ПАТ «Криворізький залізорудний комбінат» – шахт «Батьківщина», «Гвардійська», «Тернівська» та «Жовтнева». Головна вимога, висловлена на зборах трудових колективів під землею, – підвищення оплати праці гірників до рівня 2012 року, коли їхня зарплата в перерахунку на долари США складала близько тисячі.

ПАТ «Криворізький залізорудний комбінат» – найбільше в Україні підприємство з видобутку залізної руди підземним способом.

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ГПУ сподівається рішення американського суду щодо Лазаренка до кінця року – Єнін

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Заступник Генпрокурора України Євген Єнін сподівається до кінця року на завершення суду у США щодо колишнього прем’єр-міністра Павла Лазаренка. Про це він повідомив в ефірі «5 каналу» ввечері 4 травня.

«До кінця цього року ми очікуємо рішення американського суду в справі Лазаренка, після цього ми розпочинаємо переговорний процес з американцями щодо повернення (активів – ред.)», – зазначив Єнін.

За його словами, кошти можуть бути повернуті України за півроку-рік після вироку.

Павло Лазаренко втік із України 1999 року і врешті опинився у США, де без успіху домагався притулку й натомість був засуджений більш ніж на вісім років позбавлення волі, значного штрафу і конфіскації майна за звинуваченнями, пов’язаними з відмиванням коштів. 2012 року він вийшов на волю після закінчення терміну і, за повідомленнями, отримав право на мешкання у США, де й живе з родиною – другою дружиною, своєю колишньою перекладачкою на судах у США, і їхніми трьома дітьми. Тим часом правоохоронні органи США далі продовжують з’ясовувати подробиці щодо відмитих ним коштів.

 

 

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Plan to Trim Brazil’s Social Security Clears Hurdle

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President Michel Temer’s proposal to reform Brazil’s costly social security system cleared a committee vote Wednesday, but the measure, deeply unpopular with voters, faces an uphill battle in the full Congress.

The committee voted 23-14 to approve the constitutional amendment, which would make Brazilians work longer and reduce pension benefits to plug a widening budget deficit at the root of the country’s worst recession.

Temer spokesman Alexandre Parola told reporters the vote numbers showed that “Brazilian society recognizes the urgent need for reforming the social security system.”

Presidential aides said, however, the government was not certain it had secured the two-thirds vote needed in the full chamber to approve a bill that is crucial to Temer’s efforts to recover investor confidence and restore investment and growth.

A vote in the full house planned for next week has been put back to allow the government coalition to muster the necessary 308 votes by swaying lawmakers worried about angering voters ahead of next year’s elections.

A generous system

Pension reform is a contentious issue in Brazil, which has one of the world’s most generous social security systems, allowing retirement on average at the age of 54 with almost full benefits, compared with 72 years in Mexico.

The bill sets a minimum retirement age for the first time in Brazil, at 65 for men and 62 for women.

Changes to the country’s labor laws and pension system triggered violent clashes between demonstrators and police in Brazil’s main cities Friday during the first national strike called by unions against Temer’s austerity agenda.

About 71 percent of Brazilians oppose the bill, according to a Datafolha survey Monday.

Concessions

Economists warn that the social security system is one of the main threats to Brazil’s government finances, with pension expenditures accounting for nearly half of its spending before debt payments.

Temer made concessions to ease passage of the proposal at the center of his austerity plan, raising doubts among investors about the watered-down bill’s ability to help narrow a bulging budget deficit that cost Brazil its investment-grade credit rating two years ago. Temer agreed to set a lower retirement age for women, police, teachers and rural workers and grant more generous transition rules for workers after allies balked at backing it.

Finance Minister Henrique Meirelles has said the changes will reduce the reform’s impact by 25 percent over 10 years, lowering fiscal savings to 600 billion reais ($190 billion).

Pension reform or taxes

Investors see pension reform as the only way for Brazil to shore up its finances without resorting to huge tax hikes. The Brazilian real would probably drop more than 10 percent if the scandal-plagued Congress fails to pass the bill, currency strategists estimated in a Reuters poll Wednesday.

Without the overhaul, Brazil’s aging population is expected to lift social security spending to 17.2 percent of gross domestic product by 2060, from 8.1 percent last year, according to government estimates.

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Apple to Create $1 Billion US Advanced Manufacturing Fund

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Apple plans to create a $1 billion fund to invest in U.S. companies that perform advanced manufacturing, Chief Executive Officer Tim Cook said on Wednesday, the iPhone maker’s latest effort to show how it is creating U.S. jobs.

The Cupertino, California company will announce the fund’s first investment later in May, Cook said during an interview on CNBC.

Cook also said Apple plans to fund programs that could include teaching people how to write computer code to create apps, and will release more details about the effort this summer.

The announcements were the latest in a series of disclosures to highlight how Apple, the world’s largest company by market valuation, contributes to job creation in the United States.

Apple came under fire from President Donald Trump during his campaign because it makes most of its products in China.

In February during the company’s annual shareholder meeting, Cook said Apple spent $50 billion in 2016 with its U.S. suppliers, which include firms like 3M and Corning, the first time Apple has disclosed the metric.

Cook reiterated that point during the CNBC interview, along with Apple’s claim that it has created 2 million jobs in the United States, 80,000 of which are directly at Apple and the rest coming from suppliers and software developers for the company’s app ecosystem.

Apple is highlighting its U.S. presence at the same time lawmakers consider a major tax proposal by Trump that would let Apple, along with other large companies, bring back accumulated profits from overseas at potentially lower tax rates.

Ninety-three percent of Apple’s $256.8 billion cash is held overseas.

Cook, who met with lawmakers in Washington earlier this year to discuss tax policy and technology issues, said that Apple would have to borrow the cash for its U.S. manufacturing investment fund and said he was hopeful Trump administration would address the repatriation issue.

Cook stopped short of saying Apple would bring some of its cash back into the United States if Trump’s tax proposal was enacted.

“To invest in the United States, we have to borrow. This doesn’t make sense on a broad basis. So I think the administration, you saw they’re really getting this and want to bring this [cash] back. And I hope that comes to pass,” Cook said in response to a question about tax reform.

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VA Official Looks to Close About 1,100 VA Buildings

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Veterans Affairs Secretary David Shulkin says his department is seeking to close perhaps more than 1,100 VA facilities nationwide as it develops plans to allow more veterans to receive medical care in the private sector.

At a House hearing Wednesday, Shulkin said the VA had identified more than 430 vacant buildings and 735 that he described as underutilized, costing the federal government $25 million a year.

He said the VA would work with Congress in prioritizing buildings for closure and was considering whether to follow a process the Pentagon had used in recent decades to decide which of its underused military bases to shutter, known as Base Realignment and Closure, or BRAC.

“Whether BRAC is a model that we should take a look, we’re beginning that discussion with members of Congress,” Shulkin told a House appropriations subcommittee. “We want to stop supporting our use of maintenance of buildings we don’t need, and we want to reinvest that in buildings we know have capital needs.”

Aging buildings

In an internal agency document obtained by The Associated Press, the VA pointed to aging buildings it was reviewing for possible closure that would cost millions of dollars to replace. It noted that about 57 percent of all VA facilities were more than 50 years old. Of the 431 VA buildings it said were vacant, most were built 90 or more years ago, according to agency data. The VA document did not specify the locations.

While President Donald Trump’s budget blueprint calls for a 6 percent increase in VA funding, Shulkin has made clear the government’s second-largest agency with nearly 370,000 employees will have to operate more efficiently and that budget increases should not be considered a given in future years. 

The department recently announced hiring restrictions on roughly 4,000 positions despite the lifting of the federal hiring freeze and also left open the possibility of “near-term” and “long-term workforce reductions.” Shulkin is also putting together a broader proposal by fall to expand the VA’s Choice program of private-sector care.

BRAC controversial

The Pentagon’s BRAC process often stirred controversy in the past as members of Congress expressed concern about the negative economic impact of shuttering military bases and vigorously opposed closures in their districts.

Rep. Jeff Fortenberry, R-Neb., a vice chair of the appropriations panel, told Shulkin that Congress was looking forward to working with the VA “constructively” on the issue in part by determining how excess VA buildings could be put to good community use, such as for fire-fighting, security or landscape maintenance.

“Don’t ever use the term BRAC because it brings up a lot of bad memories,” Fortenberry cautioned. “You automatically set yourself up for a lot of controversy.”

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«Київгаз» відімкнув газопостачання 40 котельням у Києві за борги – заява

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У «Київенерго» повідомили про припинення постачання газу до 40 столичних котелень, які забезпечували гарячою водою 225 об’єктів, зокрема, 189 житлових будинків, 11 шкільних і дошкільних заходів і 2 лікувальні заклади.

За даними підприємства, причиною відімкнення є заборгованість «Київенерго» перед «Київгазом» за послуги транспортування газу, яка станом на 1 травня становила 199,2 мільйони гривень.

«Основною причиною зростання боргів за газ є збільшення заборгованості споживачів за теплову енергію, послуги централізованого опалення й гарячого водопостачання. Станом на 1 квітня борг столиці за теплоенергію становив майже 5 мільярдів гривень. Частка боргу держави перевищила 1,4 мільярда гривень, з них 1,2 мільярда – це некомпенсовані пільги й субсидії в теплопостачанні», – йдеться у повідомленні на сайті «Київенерго».

1 травня стартувала оновлена програма нарахування субсидій. Відтепер, зокрема, на субсидії можуть претендувати люди, що живуть у садових будинках, а соціальна норма для непрацездатних людей зросте.

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Добовий режим закачування газу в українські сховища з травня зріс удвічі – «Укртрансгаз»

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Україна наростила темпи заповнення газосховищ з початку травня, повідомляє речник компанії-оператора газотранспортної системи «Укртрансгаз» Максим Білявський.

За даними компанії, йдеться про 42 мільйони кубометрів газу щодня, це удвічі більше, аніж раніше.

«З початку поточного року в підземні сховища газу було закачано 0,6 мільярдів кубічних метрів блакитного палива, що у два рази більше за показники аналогічного періоду минулого року. Зокрема у квітні газосховища поповнились на 0,43 мільярдів кубів, що також у два рази більше за минулорічні показники. Станом на сьогоднішній день у вітчизняних ПСГ (підземні сховища газу – ред.) зберігається 8,478 мільярдів кубів блакитного палива, а закачування відбувається на п’ятьох сховищах», – йдеться у повідомленні прес-служби «Укртрансгазу».

За їхньою інформацією, протягом опалювального сезону зі сховищ відібрали 6,7 мільярдів кубів газу, що 21% ніж за аналогічний період минулого року.

Водночас, в «Укртрансгазі» повідомляють, що за 4 місяці зріс також транзит газу у країни Європейського союзу територією України на 23 %.

 

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British Hopes to Build Post-Brexit ‘Empire 2.0’ Hit 21st Century Reality

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Britain wants to boost trade ties with Africa after it leaves the European Union — a project some have called “Empire 2.0.”  British plans to build on historical links with its former empire could face resistance in many African countries, as exporters face years of uncertainty over future trading relations with the UK.

Britain says leaving the EU will allow it to “go global” and throw off the shackles it claims the EU has imposed on its trading ambitions. On a recent visit to Uganda, Foreign Secretary Boris Johnson said the first stop would be Britain’s former colonies.

“We are re-entering the Commonwealth, re-entering the global economy,” he said.

 

That re-entry has been dubbed “Empire 2.0” in Britain. But in many former colonies, memories of British rule are at best mixed, said British Conservative party lawmaker Kwasi Kwarteng, an author on the legacy of the British Empire, and a key figure in the campaign to leave the EU.

“My own family is from West Africa, Ghana, which is a Commonwealth country and was a former colony. And people have very mixed memories of the Empire. So to try and relive that past, I think, is a completely ridiculous and forlorn exercise. But what we can do is to try and use those relationships that were forged, some of them through the Empire, and then latterly through the Commonwealth,” said Kwarteng.

The legacy of the British Empire is still debated decades after its collapse. In South Africa, statues of the colonialist Cecil Rhodes were torn down in 2015.

 

Despite a long list of atrocities — such as the brutal suppression of the Mau Mau uprising in Kenya in the 1950s — Kwarteng believes the old links forged in Empire days will aid new trade deals.

“There’s a vast world out there, nearly 80 percent of global GDP, which is outside the EU. And a lot of GDP is taken up by Commonwealth countries,” he said.

Critics highlight that almost half of British exports go to the European Union — $288 billion worth every year. In comparison, exports to Africa total just $21.3 billion.

To boost that trade, Britain wants quick trade deals with emerging economies. But African nations should be cautious, according to Matt Grady of the charity Traidcraft, which advocates fair trade and global justice.

“African countries have indicated that their priorities are regional integration and cooperation. So now is not really the time for the UK to be trying to negotiate deals with African countries that will undermine those priorities. It will undermine their ability to develop their manufacturing and processing sectors,” he said.

Brexit poses other risks. Britain imports $9.7-billion worth of goods from Africa — including produce like coffee from Kenya or wine from South Africa.

“Producers in developing countries, they don’t know what tariffs they’re going to face to sell into Britain. Decisions are being made now for two years down the line on uncertain conditions,” said Grady.

Citing that uncertainty, the head of the African, Caribbean and Pacific group of nations said this week that a free trade deal with Britain should be delayed until at least six years after Britain’s EU exit.

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A New Occupation: Urban Farmer

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Living in large cities has its downsides, and one of them is a lack of fresh organic locally grown produce. But growing vegetables is something everyone can do and it can be done in literally a handful of soil. Two amateur gardeners in the Swedish city of Gothenburg started small, but now see gardening as a way to profitability. VOA’s George Putic reports.

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Світовий банк надав Україні 150 мільйонів доларів кредиту

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Рада виконавчих директорів Світового банку затвердила 2 травня кредит для України в розмірі 150 мільйонів доларів з метою підтримки малих і середніх підприємств, орієнтованих на експорт. Про це йдеться в повідомленні на сайті банку.

«Україна має креативний і унікальний діловий потенціалом і може виробляти високоякісну конкурентоспроможну продукцію», – заявила директор Світового банку по Україні, Білорусі та Молдові Сату Кахконен.

«Однак багато перешкод обмежують можливості України в експорті. Однією з них є нестача якісного фінансування. Доступ до довгострокових фінансів для малих і середніх підприємств допоможе країні збільшити експорт і сприятиме пожвавленню економічного зростання в Україні», – додала вона.

Очікується, що проект під назвою «Доступ до довгострокових фінансів» здійснюватиме ТОВ «Укрексімбанк», надавши субкредити банкам, які, в свою чергу, вкладуть гроші в різні малі та середні підприємства в Україні. Ці підприємства, як повідомили в Світовому банку, будуть відібрані з огляду на їхню фінансову стабільність і потенціал.

Світовий банк є одним з найбільших міжнародних партнерів України. Ця інституція надає підтримку у здійсненні енергетичних, комунальних, транспортних, соціальних проектів тощо.

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Congress Warns US Airlines to Improve Customer Service

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U.S. lawmakers have put the nation’s airlines on notice: Improve customer service or we will make you.

The House Transportation and Infrastructure Committee held a hearing for top airline executives to testify, and to determine how Congress might respond after a passenger was violently dragged off an overbooked United Airlines flight.

“Seize this opportunity,” committee Chairman Bill Shuster, a Pennsylvania Republican, told United CEO Oscar Munoz and other airline executives at a hearing. Otherwise, “we’re going to act and you’re not going to like it,” he said, predicting a “one-size-fits-all” solution that may serve some airlines but not all.

Munoz apologized repeatedly for the removal of David Dao, 69, who last month refused to give up his seat to make room for airline employees. The video of airport police dragging Dao from his seat went viral.

“In that moment for our customers and our company we failed, and so as CEO, at the end of the day, that is on me,” Munoz said. “This has to be a turning point.”

Munoz was joined at the hearing by United President Scott Kirby and executives from American Airlines, Southwest Airlines and Alaska Airlines.

American Airlines experienced its own public relations fiasco last month when a passenger video went viral, showing a woman on a plane in tears holding a child in her arms and another at her side after an encounter with a flight attendant over a baby stroller.

United and other airlines have announced policy changes regarding overbooked flights. Airlines have said they routinely overbook flights because a small percentage of passengers do not show up.

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Trump Nominee for China Envoy Pledges to Tackle Steel Trade

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President Donald Trump’s nominee to be the U.S. ambassador to China said on Tuesday he would do everything possible to address what he called China’s “unfair and illegal” sales of underpriced steel in the world market.

“I want to do everything I can to make sure that we stop the unfair and illegal activities that we’ve seen from China in the steel industry,” the nominee, Iowa’s Republican Gov. Terry Branstad, said at his U.S. Senate confirmation hearing.

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As Oil Prices Dip, African Countries Spend Less on Military

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African military expenditures have finally slowed down after more than a decade of steady increases, according to a new report on global defense spending. The main reason, the report found, is a drop in oil prices.

“The sharp decreases in oil prices has affected quite a number of African countries, namely South Sudan and Angola.  This has kind of driven almost the entire regional trend,” said Nan Tian, a researcher at the Stockholm International Peace Research Institute’s (SIPRI) Arms and Military Expenditure Program, the organization that authored the report.

The SIPRI report found military spending in Africa in 2016 was down by 1.3 percent from the previous year and totaled about $37.9 billion.

Despite the drop, Africa’s military spending remains 48 percent higher than it was a decade ago.  “A few of the top spenders within these regions are generally oil economies, so the low oil prices have meant sharp cutbacks in government financing and that includes military spending,” he said.

Some of Africa’s biggest spenders in recent years have included oil-rich Angola, which has sought to modernize its air force and navy, and Algeria which has tried to preserve its stability amid the collapse of Libya and the rise of extremism in North Africa.  Both of those countries have slowed spending recently, Tian said.

Weighing spending against needs

Tian said that perhaps the most important question to ask, is whether military spending in Africa is at appropriate levels.

Ten African countries have military expenditures greater than 3 percent of their GDP. The highest are the Republic of the Congo where military expenditures totaled 7 percent of GDP in 2016, and Algeria where military spending totaled 6.7 percent of GDP.

Globally, military spending is 2.2 percent of GDP or about $227 per person.

 

“You have the security aspect also in Africa.  We have the opportunity costs,” Tian said.  “It is the poorest continent.  The question is: should this continent be spending?  Are they spending enough or are they spending too much on military based on their current income levels?  Should they rather be prioritizing other aspects of spending maybe health care, maybe education, maybe infrastructure?”

Not all African countries saw a decline in military spending.  According to the report, Botswana’s military spending grew by 40 percent, or about $152 million.  Botswana is regularly noted for having a long record of peace and good governance, and is undergoing a military modernization program.

Nigeria increased its military spending by 1.2 percent to $1.7 billion as it strives to defeat the radical Islamist group Boko Haram.  Similarly, Kenya and Mali increased military spending due to extremist threats in their regions.

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Indian IT Company to Add 10,000 US Jobs

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India-based technology company Infosys said Tuesday it will create 10,000 jobs in the United States, growing its American footprint at a time when it has become a political target in the U.S.

Infosys has been a big user of H1-B visas in the U.S., a program under which overseas firms, most often technology companies, move foreign workers to the United States after the overseas businesses declare they cannot find enough qualified U.S. workers. Critics of the visa program say the foreign firms have cost U.S. workers their jobs, however, because the foreign companies usually pay the temporary workers less than they would have had to pay American employees to do the same job.

As part of his “America First” pledge, President Donald Trump recently ordered government agencies to review the visa program. Trump said he wants to bring in the “best and brightest” foreign workers and reform immigration laws as they relate to work and border security. But one suggested reform – that companies paying the highest wages be granted the work visas – would directly affect Infosys.

The U.S. Citizenship and Immigration Services, which manages the visa petitions, says that about 70 percent of the 85,000 H1-B visas issued annually go to Indians, and more than half of them are working for information technology companies like Infosys, which then outsource the workers to American firms.

Infosys has been one of the biggest users of the H1-B visa program, sending more than 15,000 workers to the U.S. in the last two years, although it has trimmed its visa requests for this year. Under the program, foreign-born workers typically can be employed for three years by a sponsor company and apply to stay longer.

Infosys said it would hire the 10,000 U.S. workers over the next two years, opening four technology centers, with the first in the midwestern state of Indiana, where Vice President Mike Pence was governor before Trump tapped him as his running mate in last year’s national political campaign.

Infosys chief executive Vishal Sikka told Reuters, “The reality is, bringing in local talent and mixing that with the best of global talent in the times we are living in and the times we’re entering, is the right thing to do. It is independent of the regulations and the visas.”

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New Oyster War: Rich Homeowners vs. Working-class Watermen

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Oystermen, pirates and police clashed violently more than a century ago over who could collect the Chesapeake Bay’s tasty and lucrative oysters. As the shellfish makes a comeback, a modern-day oyster war is brewing, this time between wealthy waterfront property owners and working-class fishermen.

Over the past five years, oyster production has doubled on the East Coast, driven by new farming methods, cleaner water and Americans’ growing taste for orders on the half shell. The resurgence has led to unprecedented resistance from coastal Virginians who want to maintain picturesque views from their waterfront homes and has fueled a debate over access to public waterways.

“These people can’t have it all,” said Chris Ludford, an oysterman in Virginia Beach who sells to nearby farm-to-table restaurants.  

 

Ludford said he faces fierce pushback along a Chesapeake Bay tributary from people with “a $2,000 painting in their house of some old bearded oysterman tonging oysters.

 

“But they don’t want to look out their window and see the real thing,” he said.

Views spoiled, privacy lost

 Homeowners say the growing number of oystermen — dressed in waders and often tending cages of shellfish — spoil their views and invade their privacy. Residents also worry about less access to the water and the safety of boaters and swimmers.

 

Low tides often expose oyster cages, usually accompanied by markers or warning signs that protrude from the surface. In some places, cages float.

 

“All of sudden you have people working in your backyard like it was some industrial area,” said John Korte, a retired NASA aerospace engineer in Virginia Beach who’s among residents concerned about oyster farming’s proliferation. “They may be a hundred feet away from someone’s yard.”

 

Ben Stagg, chief engineer at the Virginia Marine Resources Commission, said the state is poised to break its record of leased acreage for oyster growing. But nearly 30 percent of more than 400 new lease applications face opposition, an unprecedented number that’s led to a backlog of leases awaiting approval.

 

 “Occasionally I can resolve those by having the parties get together and adjust the area further offshore,” Stagg said. “But oftentimes, I can’t.”

Oysters make a comeback

There hasn’t been this much interest in oysters in Virginia since the early 1960s. Since then, disease and overfishing took hold and growers started to disappear.

 

Over the last few decades, breeding programs have produced more disease-resistant and faster-growing oysters. The water’s cleaner. American palettes have evolved, increasing demand.  

 

Farming techniques also changed. Traditionally, oysters are grown on the bottom of a calm and salty river or bay, then harvested with tongs or dredges that pull them onto boats.  

 

Now, fishermen are increasingly using cages to grow oysters over a two-to-three year period. The equipment keeps predators away and produces oysters with a more uniform shape and size, which restaurants prefer.

 

 But the cages are often placed in shallower water closer to shore — and people’s homes.  

 

Virginia Beach is perhaps ground zero for today’s oyster war. The state’s largest city sits at the mouth of the Chesapeake Bay. And oysters thrive in the city’s Lynnhaven River, a network of bays and creeks flowing past expensive homes. Lynnhaven oysters are well-known for their salty taste and size.

Solution is not easy to find

A state task force was formed to find compromise. It recommended giving residents more power to block nearby oyster leases. But the idea was rejected by the Virginia Marine Resources Commission, with the majority of commissioners saying state lawmakers should step in.  

 

Proposals in the Statehouse have included raising the cost of an oyster farming lease from $1.50 an acre annually to $5,000. But legislators haven’t found a solution.  

 

Conflicts also have flared up along Maryland’s Patuxent River, the coastal lagoons of Rhode Island and on Martha’s Vineyard in Massachusetts.  

 

In Delaware, a group of people who mostly own vacation homes successfully blocked potential oyster farming along their part of an inland bay.

 

“Oftentimes, affluent and new members of the community have the point of view that they own the water in front of them, which is really not true,” said Bob Rheault, executive director of the East Coast Shellfish Growers Association. “We need to win back our social license to farm.”

 

Rheault said he’s seen these battles “up and down the East Coast” — even before the crop began to double five years ago.

 

 “The industry was there before the waterfront mansions were built,” Rheault added. “But it hasn’t been there for this generation.”

 

Ludford, who also works as a Virginia Beach firefighter, is relatively new to the business. He and other relatives started growing oysters in 2010 after leaving the crab industry.

Is zoning the answer?

On a recent morning, Ludford sorted through cages as he stood in the Lynnhaven River, hundreds of yards from the nearest home.  

 

He dragged cages into view as grass shrimp wriggled on the shells. He and two helpers retrieved more than 500 oysters, which he sold at 75 cents apiece to three restaurants — totaling about $375.

“Really, people haven’t seen an oysterman behind their houses in 50 to 60 years,” Ludford said.

 

Steven Corneliussen, who owns a waterfront home in Poquoson, Virginia, said he’s among a group that successfully protested new leases along his corner of the Chesapeake. He said waterways should be subject to zoning, like land.     

 

“That water out in front of me doesn’t belong to me,” he said. “But it doesn’t belong to them, either.” 

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On May Day, Sub-Saharan Workers Still Struggle

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Kenyan President Uhuru Kenyatta spoke at the annual May Day celebrations Monday in Nairobi, a day when many countries celebrate workers. But in sub-Saharan Africa, about three-fourths of those laborers work in the informal sector, without contracts or job protections, according to the International Labor Organization.

Kenyatta pledged to tackle high unemployment during his May Day speech.

One hundred meters away, 31-year-old Christine Ndunge continued her work selling sodas and snacks. She has been a street vendor at a public park in central Nairobi for several years. 

“These days getting a job is hard,” she said. “I have decided to employ myself so that I can survive. Like now, it’s a rainy season — there are not enough customers to buy drinks. I motivate myself to continue selling because there is nowhere else I can work.”

In his address Monday, Kenyatta announced that Kenya will be raising its minimum wage by 18 percent.

The crowd cheered, but analysts say policies like raising the minimum wage won’t help a majority of the workforce. 

According to the Kenyan government’s 2017 economic survey, 833,000 jobs were created last year. However, less than 20 percent of those jobs were in the formal sector.  

“There is that disconnect,” said Kwame Owino, CEO of the Institute of Economic Affairs in Kenya. “So on one side, we have unions, which are talking for people who are in the formal sector, raising wages. And when that happens in standard economics, one of the first things that happens is employment shrinks. So when that employment shrinks in the formal sector, most of these people fall back to the informal sector. We are solving the wrong problem.”

He said Kenya and other African countries need to improve conditions for entrepreneurs.

Entrepreneurs in Africa often struggle to raise capital. Owino said what governments can do is create new regulations making it easier for small businesses to get loans. He said policymakers can also streamline the process of registering and running a legal business and make it cheaper.

Josphat Mwendo, a trained mechanic, spent years unsuccessfully looking for a job. Finally, the 32-year-old started fixing cars for money himself. Now, he has three people he pays to help him.

“I don’t feel good because they did not speak about people like us,” he said. “I think it’s good to think about those who have employed themselves too, so that they can know their worth and also feel they are Kenyans like the rest.”

The problem is particularly acute among young people.

A recent study by the Brookings Institution found that Africans between the ages of 15 and 24 are just a third of the continent’s total working-age population, but account for nearly two-thirds of the continent’s unemployed.

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Fed Likely to Leave Rates Alone but Signals More Hikes Coming

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With the U.S. economy on solid footing and unemployment at a near-decade low, the Federal Reserve remains in the midst of a campaign to gradually raise interest rates from ultra-lows. But this week, it’s all but sure to take a pause.

The Fed is widely expected to keep its key short-term rate unchanged after having raised it in March for the second time in three months. Most analysts foresee the Fed raising its key rate again at least twice more before year’s end, a testament to the durability of the U.S. economic recovery and a more stable global picture.

 

One reason for the Fed to stand pat this week is that even though the job market has shown steady strength, the economy itself is still growing in fits and starts. On Friday, the government estimated that the economy, as gauged by the gross domestic product, grew at a tepid 0.7 percent annual rate in the January-March quarter. It was the poorest quarterly performance in three years.

 

Though some temporary factors probably held back growth last quarter and may have overstated the weakness, the poor showing underscored that key pockets of the economy — consumer spending and manufacturing, for example — remain sluggish. On Monday, the government said U.S. consumer spending stalled in March for a second straight month. And the Institute for Supply Management reported a drop in factory activity.

 

“Given all the uncertainties they still face and especially with growth coming in so weak, the less the Fed says at this meeting, the better,” said Diane Swonk, chief economist at DS Economics.

 

Most economists have expressed optimism that the economy is strengthening in the current April-June quarter, fueled by job growth, higher consumer confidence and stock-market records. Many think that annualized growth could accelerate to around 3 percent and that the Fed will feel more confident to resume raising rates at its June meeting.

 

“The Fed will probably say in their statement that they expect the economy to rebound in the second quarter,” said Sung Won Sohn, an economics professor at the Martin Smith School of Business at California State University.

 

It isn’t just the Fed’s short-term rate — a benchmark for other borrowing costs throughout the economy — that will likely occupy attention at this week’s meeting. Officials will also likely discuss how and when to start paring their extraordinary large $4.5 trillion portfolio of Treasurys and mortgage bonds. The Fed amassed its portfolio — commonly called its balance sheet — in the years after the financial crisis erupted in 2008, when it bought long-term bonds to help keep mortgage and other borrowing rates low and support a frail economy. At the time, the Fed had already cut its short-term rate to a record low.

 

The balance sheet is now about five times its size before the financial crisis hit. The Fed stopped buying new bonds in 2014 but has kept its balance sheet high by reinvesting the proceeds of maturing bonds. The Fed’s thinking has been that reducing the balance sheet could send long-term rates up and work against its goals of fortifying the economy.

 

Now, as the Fed becomes more watchful about inflation pressures, the time is nearing when it will need to shrink its balance sheet, a process that could have the effect of raising some borrowing rates, at least modestly. The Fed jolted investors when it released the minutes of its March meeting, which showed that most officials thought that process “would likely be appropriate later this year.” This was sooner than many investors expected.

 

Could the Fed clarify its timetable for paring its balance sheet in the statement it will issue when its policy meeting ends Wednesday? It may decide against doing so, given that this meeting won’t be accompanied by a news conference with Chair Janet Yellen to explain any shifts in the Fed’s policy or thinking.

 

Mark Zandi, chief economist at Moody’s Analytics, said the more likely signal the Fed could send is to reinforce the markets’ view that it intends to raise its short-term rate again next month.

 

“I expect two more rate hikes — one in June and then one in September,” Zandi said. “Then I expect the Fed to begin allowing its balance sheet to run off.”

 

Some Fed officials have suggested that they would prefer not to be raising the short-term rate at the same time that they are beginning to reduce their balance sheet. Giving investors too much to digest at once risks unsettling financial markets. In 2013, the Fed triggered a brief storm in bond markets when then-Chairman Ben Bernanke raised the possibility that the Fed would start tapering its bond purchases later that year, catching investors by surprise.

 

“They learned their lesson with the taper tantrum of 2013 that they need to give the markets plenty of warning of changes in their bond policies,” Sohn said.

 

Some analysts say they think the Fed will reveal nothing this week about its timetable for reducing its balance sheet, in part because the policy committee has yet to reach a consensus on when or how to do so.

 

“I have a feeling we are going to get much less information than we want,” Swonk said. “The Fed wants to move slowly, but they don’t have a consensus yet on how to proceed.”

 

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В Україні з 1 травня зростає прожитковий мінімум

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З 1 травня прожитковий мінімум для працездатних осіб в Україні зростає приблизно на 5% – до 1684 гривень. Це визначає закон про держбюджет на 2017 рік.

Згідно з документом, для дітей віком до 6 років з 1 травня прожитковий мінімум становитиме 1426 гривень, для дітей від 6 до 18 років – 1777, для осіб, які втратили працездатність, – 1312 гривні.

У зв’язку зі зміною прожиткового мінімуму для осіб, що втратили працездатність, із травня перераховується пенсія для 8,2 мільйона людей людей.

Згідно з законом про держбюджет, Кабінет міністрів України підвищуватиме прожитковий мінімум для працездатних осіб у 2017 році в три етапи – загалом до суми 1762 гривні.

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May Day Marked by Celebrations and Demonstrations

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Monday is May Day, known worldwide as the day when workers and activists march in the streets and gather in city centers to honor laborers across the globe. 

The holiday is also known as International Workers Day and as Labor Day. 

Workers and union members in the Philippines celebrated May Day by marching in the streets of Manila, the capital. Workers’ rights groups and unions have also scheduled rallies across Manila. 

Indonesian workers took to the streets of Jakarta Monday. Thousands more workers are expected to join the rally later in the day. 

France’s presidential rivals — centrist front-runner Emanuel Macron and far-right challenger Marine Le Pen — will hold their own dueling rallies Monday. There will also be demonstrations against both candidates. 

In the U.S., May Day’s rallying point has shifted from workers to immigrants.Tens ofthousands of people are expected to mark the day from New York to Los Angeles to protest against President Donald Trump’s focus on boosting deportations.Organizations have called for immigrant strikes in some cities to show Americans what a day without immigrants would look like.

Cuba is facing its first May Day celebration without longtime President Fidel Castro, who died in November.Monday’s observance will also be the last May Day overseen by President Raul Castro, who has promised to step down from office in February. 

Hundreds of thousands of people traditionally celebrate May Day in Havana’s Revolution Square with Cuban flags and portraits of Fidel Castro.

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Growth Slows in April in China’s Manufacturing Sector

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Growth in China’s manufacturing sector slowed in April, official data showed Sunday, pointing to an unsteady recovery in the world’s second-largest economy. 

 

The monthly purchasing managers’ index by the Chinese Federation of Logistics and Purchasing fell to 51.2 in April, lower than the 51.8 recorded in March. 

 

The index is based on a 100-point scale on which numbers above 50 indicate expansion.

 

National Bureau of Statistics statistician Zhao Qinghe said in the release that April’s figure was affected by sluggish growth in market demand and supply, and slower expansion in imports and exports.

 

April’s index still represented a ninth consecutive month of expansion. 

 

China saw its slowest growth in nearly three decades in 2016. China’s huge manufacturing sector is seen as an important indicator for the wider Chinese economy. It has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on export-based manufacturing and investment toward consumer spending.

 

The official full-year economic growth target for 2017 is 6.5 percent. 

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