Connect with us

Reuters

Huawei CFO witness testimony to resume in Canada in U.S. extradition case

Witness cross-examination in the U.S. extradition case of Huawei Chief Financial Officer Meng Wanzhou will resume in a Canadian court on Monday where Meng’s lawyers are trying to establish that her rights were violated during the events leading up to her arrest….

Published

on

(Reuters) – Witness cross-examination in the U.S. extradition case of Huawei Chief Financial Officer Meng Wanzhou will resume in a Canadian court on Monday where Meng’s lawyers are trying to establish that her rights were violated during the events leading up to her arrest.

Meng, 48, was arrested in December 2018 at Vancouver International Airport by Canadian police, on a warrant from the United States. She is facing charges of bank fraud for allegedly misleading HSBC HSBA.L about Huawei Technologies Co Ltd’s business dealings in Iran, causing the bank to break U.S. sanctions.

Meng has said she is innocent and is fighting the extradition from under house arrest in Vancouver, where she owns a home in one of Canada’s most expensive neighborhoods.

Monday is to kick off 10 days of testimony that are a continuation of hearings that were set to wrap up in early November but ran overtime, necessitating more hearings to be scheduled.

Lawyers for both Meng and the Canadian government will cross-examine Canadian law enforcement officers and border officials who were involved in the initial investigation and arrest of Meng.

Meng’s lawyers are fighting to get her extradition dismissed on the basis of alleged abuses of process, arguing they constitute violations of her civil rights laid out in Canada’s Charter of Rights and Freedoms.

In the first week of hearings, prosecutors for the Canadian government tried to prove that Meng’s arrest was by the book and any lapses in due process should not impact the validity of her extradition.

The extradition hearings are scheduled to wrap up in April 2021, though the potential for appeals mean the case could drag on for years.

Diplomatic relations between Ottawa and Beijing became rocky following Meng’s arrest. Soon after her detention, China arrested Canadian citizens Michael Spavor and Michael Kovrig on espionage charges.

Reporting by Moira Warburton in Toronto; Editing by Denny Thomas and Leslie Adler

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-usa-huawei-tech-canada/huawei-cfo-witness-testimony-to-resume-in-canada-in-u-s-extradition-case-idUSKBN27W0QL

[ALT0]

Reuters

Myanmar security forces with rifle grenades kill over 80 protesters – monitoring group

Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people, the Assistance Association for Political Prisoners (AAPP) monitoring group and a domestic news outlet said.

Published

on

(Reuters) – Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people, the Assistance Association for Political Prisoners (AAPP) monitoring group and a domestic news outlet said.

Details of the death toll in the town of Bago, 90 km (55 miles) northeast of Yangon, were not initially available because security forces piled up bodies in the Zeyar Muni pagoda compound and cordoned off the area, according to witnesses and domestic media outlets.

The AAPP and Myanmar Now news outlet said on Saturday that 82 people were killed during the protest against the Feb. 1 military coup in the country. Firing started before dawn on Friday and continued into the afternoon, Myanmar Now said.

“It is like genocide,” the news outlet quoted a protest organiser called Ye Htut as saying. “They are shooting at every shadow.”

Many residents of the town have fled, according to accounts on social media.

A spokesman for Myanmar’s military junta could not be reached on Saturday.

AAPP, which has maintained a daily tally of protesters killed and arrested by security forces, has previously said 618 people have died since the coup.

That figure is disputed by the military, which says it staged the coup because a November election won by Aung San Suu Kyi’s party was rigged. The election commission has dismissed the assertion.

Junta spokesman Major General Zaw Min Tun told a news conference on Friday in the capital, Naypyitaw, that the military had recorded 248 civilian deaths and 16 police deaths, and said no automatic weapons had been used by security forces.

An alliance of ethnic armies in Myanmar that has opposed the junta’s crackdown attacked a police station in the east on Saturday and at least 10 policemen were killed, domestic media said.

The police station at Naungmon in Shan state was attacked early in the morning by fighters from an alliance that includes the Arakan Army, the Ta’ang National Liberation Army and the Myanmar National Democratic Alliance Army, the media reported.

Shan News said at least 10 policemen were killed, while the Shwe Phee Myay news outlet put the death toll at 14.

Myanmar’s military rulers said on Friday that protests against its rule were dwindling because people wanted peace, and that it would hold elections within two years.

Ousted Myanmar lawmakers urged the United Nations Security Council on Friday to take action against the military.

“Our people are ready to pay any cost to get back their rights and freedom,” said Zin Mar Aung, who has been appointed acting foreign minister for a group of ousted lawmakers. She urged Council members to apply both direct and indirect pressure on the junta.

“Myanmar stands at the brink of state failure, of state collapse,” Richard Horsey, a senior adviser on Myanmar with the International Crisis Group, told the informal U.N. meeting, the first public discussion of Myanmar by council members.

Reporting by Reuters Staff; Writing by Raju Gopalakrishnan; Editing by Pravin Char

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-myanmar-politics-idUSKBN2BX0D5

myanmar-security-forces-with-rifle-grenades-kill-over-80-protesters---monitoring-group

Continue Reading

Reuters

Factbox: Russian central bank considers digital rouble in 2023

(Refiles to remove superfluous word in headline; no change in text.)

Published

on

(Refiles to remove superfluous word in headline; no change in text.)

FILE PHOTO: A Russian flag flies over Russian Central Bank headquarters in Moscow, Russia December 3, 2018. REUTERS/Maxim Shemetov/File Photo

(Reuters) – The Russian central bank is considering limiting future transactions with a digital rouble to smooth the impact of its implementation, planned for 2023, Deputy Governor Alexei Zabotkin said on Thursday.

Russia is working on introducing the digital rouble on top of existing cash and non-cash roubles, to facilitate payments for individuals and businesses and make the use of its currency more global in the face of Western sanctions.

“The emission of the cryptorouble will be akin to cash emission,” Zabotkin said.

“It will be feasible to introduce limits on the transactions from non-cash form into the digital rouble,” Zabotkin said, adding that the central bank will stand ready to compensate for possible liquidity shortages when introducing the digital rouble.

Russia is joining other central banks across the world that are stepping up efforts to develop digital currencies to modernise financial systems, speed up payments and counter a potential threat from other cryptocurrencies.

Below are the key aspects that are known about Russia’s digital rouble project:

* The central bank first floated the idea of the digital rouble in October, citing the need to make payments more convenient;

* The digital rouble will be issued by the central bank and will not substitute for cash in circulation or accounts in banks;

* The first test-drive stage is planned for 2022 and will include transactions with banks. Other operations, such as tax payments and budget settlements, will be tested later;

* Russia is leaning towards a two-tier system for its digital rouble, with banks opening digital wallets with the central bank and serving as intermediaries for customers and companies;

* Russian banks expressed concern about the digital rouble, pointing at cyber risks, possible liquidity shortages and damage to their profits;

* Russia gave cryptocurrencies, such as bitcoin, legal status in 2020. But it banned them from being used as a means of payment, stressing that only currencies issued by central banks can be used for that;

* Russia eyes the digital rouble introduction at times when major central banks including the U.S. Federal Reserve have teamed up with the Bank for International Settlements (BIS) to explore central bank digital currencies.

Reporting by Anna Rzhevkina and Elena Fabrichnaya; editing by Andrey Ostroukh, Larry King

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-russia-cenbank-rouble-factbox/factbox-russian-central-bank-considers-digital-rouble-in-2023-idUSKBN2BV2AH?il=0

factbox:-russian-central-bank-considers-digital-rouble-in-2023

Continue Reading

Reuters

Left-wing party opposed to big mining project wins Greenland election

A left-wing party that opposes a large rare earth mining project has become the biggest in parliament after securing more than a third of votes in a snap election.

Published

on

COPENHAGEN (Reuters) – A left-wing party that opposes a large rare earth mining project has become the biggest in parliament after securing more than a third of votes in a snap election.

Members of IA (Inuit Ataqatigiit) celebrate following the exit pools during Greenland’s election in Nuuk, Greenland April 6, 2021. Ritzau Scanpix/via REUTERS

The result of Tuesday’s election casts doubt on the mining complex at Kvanefjeld in the south of the Arctic island and sends a strong signal to international mining companies wanting to exploit Greenland’s vast untapped mineral resources.

The Inuit Ataqatigiit (IA) party won 37% of votes, compared to 26% in the last election four years ago, overtaking the ruling social democratic Siumut party which secured 29% of votes, according to official results.

The pro-mining Siumut party has been in power most of the time since 1979.

Though not opposed outright to mining, IA has a strong environmental focus. It has campaigned to halt the Kvanefjeld project, which aside from rare earths including neodymium – which is used in wind turbines, electric vehicles and combat aircraft – also contains uranium.

“This will without doubt hamper mining development in Greenland,” said Mikaa Mered, lecturer on Arctic affairs at HEC business school in Paris.

While most Greenlanders see mining as an important path towards independence, the Kvanefjeld mine has been a contention point for years, sowing deep divisions in the government and population over environmental concerns.

“It’s not that Greenlanders don’t want mining, but they don’t want dirty mining,” Mered said, referring to uranium and rare earth projects. “Greenlanders are sending a strong message that for them it’s not worth sacrificing the environment to achieve independence and economic development.”

CHALLENGES AHEAD

The island of 56,000 people, which former U.S. President Donald Trump offered to buy in 2019, is part of the Kingdom of Denmark but has broad autonomy.

IA leader Mute Egede, 34, will be first to try to form a new government. A potential government ally could be the Naleraq, an independence party that also opposes the Kvanefjeld project.

Support from Prime Minister Kim Kielsen and his governing Siumut party helped license-holder Greenland Minerals gain preliminary approval for the project last year, paving the way for a public hearing.

The Australian firm has already spent more than $100 million preparing the mine and has proven processing technology through its Chinese partner Shenghe Resources.

“The challenge for IA will be to explain to the world that Greenland is still open for business and still an attractive mining jurisdiction,” said Dwayne Menezes, head of London-based think-tank Polar Research and Policy Initiative.

Reporting by Jacob Gronholt-Pedersen; Editing by Andrew Heavens and Timothy Heritage

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Source: https://www.reuters.com/article/us-greenland-election-idUSKBN2BU0V1

left-wing-party-opposed-to-big-mining-project-wins-greenland-election

Continue Reading

Title

Blockchain news1 hour ago

HSBC Prohibits Clients from Trading Bitcoin-Backed MicroStrategy Stock

HSBC has ramped up its anti-crypto policy, banning its clients from trading MicroStrategy stock as the banking institution deems it...

Cointelegraph17 hours ago

Binance Coin reaches 37% of Ethereum’s market cap: 3 reasons why BNB is soaring

Binance Coin (BNB), the native cryptocurrency of Binance Smart Chain, has been rallying after seeing an uptick in transaction volume.

Techcrunch20 hours ago

Cruise strikes deal to launch robotaxi service in Dubai – TechCrunch

Cruise has expanded its robotaxi ambitions beyond San Francisco. The autonomous vehicle subsidiary of GM that also has backing from...

ZDNET23 hours ago

Tencent Cloud pledges SEA expansion with launch of Indonesia data centre

Chinese internet giant launches its first data centre in Indonesia, with plans to open a second one in the Southeast...

Crunchbase1 day ago

The Briefing: Traveloka Eyes $5B SPAC Deal, SnackMagic Lands Series A, And More

Crunchbase News' top picks of the news to stay current in the VC and startup world.

Entrepreneur2 days ago

Stan Lee, superheroes and the weaknesses of the entrepreneur

He was the legendary creator of some of the most iconic characters in pop culture, including Spider-Man and the Hulk....

Business insider2 days ago

Elon Musk’s Neuralink scientists are not the first to get a monkey to control a computer with its mind

Elon Musk. Britta Pedersen-Pool/Getty Images Elon Musk's Neuralink showed off its technology allowing a monkey to play video games with...

Reuters2 days ago

Myanmar security forces with rifle grenades kill over 80 protesters – monitoring group

Myanmar security forces fired rifle grenades at protesters in a town near Yangon on Friday, killing more than 80 people,...

Blockchain news2 days ago

WWE Plans to Release the Undertaker NFTs Ahead of WrestleMania 37

The World Wrestling Entertainment (WWE) has announced that it will release non-fungible tokens (NFTs) featuring the Undertaker ahead of WrestleMania...

CNBC3 days ago

Biden has options beyond a corporate tax hike to pay for infrastructure, as negotiations get underway

As Biden tries to curry favor for a corporate tax hike, the administration has other ways it could fund a...

Review

    Select language

    Trending