Things to Note, May 12th

Nirav Modi used 13 companies in UAE to round trip millions

Indian fugitive diamantaire Nirav Modi used 13 companies in the UAE and six in Hong Kong for the purpose of round tripping money, the prosecution told a London court on the first day of the five-day trial on his extradition.

The jeweler, who was arrested by Scotland Yard in the UK in March 2019 on an extradition warrant by India over charges of fraud and money laundering, attended the court using a video link from his prison in Wandsworth, London. He has been denied bail five times so far. The businessman has also applied for political asylum in the UK, sources in London told IANS.

“Remedy” for the global economy

Chairwoman and Managing Director of the International Monetary Fund (IMF) K. Georgieva told an online event hosted by the European University Institute that recent economic data for many countries was coming in below the fund’s already pessimistic forecast for a 3% global contraction in 2020. The head of the IMF has reduced her confidence regarding the global economic outlook in the context of recent challenges to the world economy and the fight against economic recession.

The IMF’s April projection for a 3% contraction in the global economy would mark the steepest downturn since the Great Depression of the 1930s. The IMF forecasts a partial rebound will follow in 2021, but warned that the outcomes could be far worse, depending on the course of the pandemic.

The pessimistic view of the head of the IMF about the global economic outlook came in the context of the world having recorded about 4.2 million cases of COVID-19, of which more than 285,000 people have died. The lockdown of half of the world’s population to control the pandemic has disrupted global supply chains. The COVID-19 pandemic has caused a 22% fall in international tourist arrivals during the first quarter of 2020, according to the latest data from the World Tourism Organization (UNWTO). According to the United Nations specialized agency, the crisis could lead to an annual decline of between 60% and 80% when compared with 2019 figures.

Siege on Afghan hospital maternity ward leaves more than a dozen, including babies, dead

Gunmen sieged a hospital in Kabul Tuesday morning where Doctors Without Borders runs a maternity clinic, killing at least 16 people, including two newborn babies, according to reports.

More than a dozen others were wounded in the attack at the Dasht-e-Barchi hospital located in a mostly Shiite Muslim neighborhood in Afghanistan’s capital. At least four armed men dressed in police uniforms stormed the building and began throwing grenades and shooting, The Guardian reported.

Neither the Taliban nor the Islamic State (IS) immediately claimed responsibility for the attack. It remained unclear why the hospital was targeted.

Toilet duty for Jakarta’s social distancing violators

Indonesians who violate social distancing rules in the capital could soon find themselves forced to clean toilets to atone for their sins.

Latrine duty is among a range of punishments listed in new rules aimed at battling coronavirus infections in the Southeast Asian megacity of Jakarta.

Going outside without a mask can result in a 250,000 rupiah ($17) fine, while residents gathering in crowds could be forced to clean public facilities — including toilets — while wearing a vest that labels them as rule-breakers.

World Left in Shock Over US Sabotage of Global Cooperation Against COVID-19

According to a poll conducted by Business Insider in May, 55% of Americans now say the US government was unprepared to handle the coronavirus pandemic. Just 27% say it is doing a better job at containing the virus than other developed countries.

“The US is not helping anyone. The US is not even helping itself, much less other countries. And, thanks to 24/7 global communication, that is visible for all the world to see,” Cynthia Schneider, who was the US ambassador to the Netherlands from 1998 to 2001, told Business Insider.

Published by jim

Curator of things...

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