Category Archives: International Politic

U.N. council to meet on North Korea rights abuses, nuclear program in December

Thanks;KIM HONG-JI

Published;FRI DEC 1, 2017 / 8:51 PM EST

FILE PHOTO: People watch a TV broadcasting a news report on North Korea firing what appeared to be an intercontinental ballistic missile (ICBM) that landed close to Japan, in Seoul, South Korea, November 29, 2017.

*Reuters- United Nations Security Council ministers will meet on Dec. 15 to discuss North Korea’s nuclear and missiles programs and the body will also meet separately this month to discuss human rights abuses in the North Asian country, an annual meeting that its ally China has tried to prevent for the past three years.

Japan’s U.N. Ambassador Koro Bessho, president of the 15-member council for December, said several ministers were confirmed to attend the Dec. 15 meeting. He also said the meeting on human rights in North Korea could be held on Dec. 11.

China has unsuccessfully tried to stop three previous human rights meetings by calling a procedural vote. A minimum of nine votes are needed to win such a vote and China, Russia, the United States, Britain and France cannot wield their vetoes.

This year’s meeting has the backing of nine members – the United States, France, Britain, Italy, Japan, Senegal, Sweden, Ukraine and Uruguay.

Last year, the United States angered North Korea by blacklisting its leader Kim Jong Un for human rights abuses.

A landmark 2014 U.N. report on North Korean human rights concluded that North Korean security chiefs – and possibly Kim himself – should face justice for overseeing a state-controlled system of Nazi-style atrocities.

Michael Kirby, chairman of the U.N. Commission of Inquiry that drew up the report, said at the time that the crimes the team had cataloged were reminiscent of those committed by the Nazis during World War Two. “Some of them are strikingly similar,” he told Reuters.

North Korea has repeatedly rejected accusations of human rights abuses and blames sanctions for a dire humanitarian situation. Pyongyang has been under U.N. sanctions since 2006 over its ballistic missiles and nuclear programs.

“Despite persistent sanctions and pressure by the U.S. and other hostile forces, my government concentrates all its efforts on improving people’s livelihood and providing them with a better future,” the North Korean Permanent Mission to the United Nations said in a statement on Nov. 14.

(Reporting by Michelle Nichols, editing by G Crosse)

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Catalonia just declared independence from Spain

Thanks;Alexandra Ma

Published;Oct,27

Pro-independence supporters wave the Catalan flag in Barcelona.Yves Herman/Reuters

• Catalonia has declared independence from Spain.

• Meanwhile, Spain’s Senate is voting over whether to allow the government to activate Article 155 and take control of Catalonia.

• Mariano Rajoy, the country’s prime minister, wants to depose the Catalan president and hold new elections.

• Friday’s vote comes a day after Catalan President Carles Puigdemont refused to dissolve parliament.

• The power struggle came to a head after Catalonia voted to secede from Spain in October.

Catalonia has declared independence from Spain.

Lawmakers in the regional parliament in Barcelona voted to become a sovereign independent state against Spain’s wishes. Carme Forcadell, the president of the paraliament, also asked the EU to recognise Catalonia as a sovereign nation.

It came as Spain’s prime minister asked the Senate to approve Article 155, which would allow the government to take control over Catalonia.

The Spanish Senate gathered on Friday morning to vote on the emergency measures. It remains unclear which of Catalonia’s powers will be suspended if Article 155 is activated.

While the article’s language is vague, it allows the government to “take the necessary measures” if an autonomous region “seriously undermines the general interest of Spain.” Madrid can, in theory, take control of Catalonia’s police and finances, and replace its administration, Reuters reported.

The power struggle between Spain and Catalonia came to a head after 2.2 million Catalonians voted on October 1 to secede from Spain.

In a 33-minute speech on Friday, Spanish Prime Minister Mariano Rajoy asked that the Senate let him depose Catalan President Carles Puigdemont, replace the regional administration, and hold new parliamentary elections within six months.

Members of Rajoy’s People’s Party applaud after the prime minister’s speech.Pablo Blazquez Dominguez/Getty

The vote came a day after Puigdemont refused to dissolve the regional parliament, as Spain had requested, saying he had not received guarantees from Madrid that it will ditch plans to trigger Article 155.

But Rajoy piled the blame on Puigdemont, telling the Senate: “The fault is his, and only his. The 155 is not against Catalonia, but to prevent the abuse of Catalonia.”

If the Senate gives Rajoy the go-ahead, this would be the first time Spain invokes Article 155 in its constitution’s 39-year history. The constitution, which said the country was “indivisible” but respected territorial self-government, gave Catalonia the right to its own language and control over healthcare and education, according to Bloomberg.

Rajoy said: “It is the first time since 1978 that Article 155 is adopted because the situation is exceptional.” He also said the referendum was “the biggest mockery of democracy we have seen since the adoption of the Constitution.”

The Catalan parliament is still in session, and could declare independence on Friday, the New York Times reported.

There are no Muslim or Christian terrorists: Dalai Lama

Thanks;IANS in India

Published;Oct,19

There are no Muslim or Christian terrorists because terrorists are no more religious once they embrace terror, Tibetan spiritual leader the Dalai Lama said on Wednesday.

“People cease to be Muslim, Christian or any group the moment they became terrorists,” the Dalai Lama said at a public reception here on the second day of a three-day visit to Manipur.

The Tibetan leader also said that he does not like the “America first” slogan of US President Donald Trump.

A strong votary of non-violence, the Nobel Prize winner said violence does not solve any problem.

“India, which has a tradition of 1,000 years of non-violence, could ensure world peace by reviving the ancient knowledge.”

According to him, almost all the problems people face today were “our own creation”.

He underlined the need to control emotions. Anger weakens people’s immune system and as such was bad for health, he warned.

“Out of seven billion people on earth, six billion are children of god while one billion are non-believers.”

Problems around the world can be solved through dialogue, said the Dalai Lama, who has lived in India since fleeing his homeland in 1959 and who is hated by the Chinese Communist regime.

India with her ancient knowledge and education could ensure world peace, he said. “China has also potentialities except for the Communist ideology.”

The spiritual leader said that the widening gap between the rich and poor was morally wrong. “This gap is visible in India and Manipur also.”

In his speech, the Dalai Lama recalled how he came to India as a refugee 58 years ago. India is also home to some 100,000 Tibetans.

Governments commit to promote a more resource efficient and pollution free Asia-Pacific

Thanks;Kavita Sukanandan

PUBLISHED;8 Sep 2017

Issued:

8 Sep 2017
News Number:

G/36/2017
Location:

Bangkok
World.Flags.png

Environment ministers and high-level officials from over 30 countries in Asia-Pacific have committed to move towards a clean and green Asia-Pacific, one that is more resource efficient and pollution free at the first Asia-Pacific Ministerial Summit on the Environment that concluded today in Bangkok. This will advance global agendas like the 2030 Agenda on Sustainable Development, the UN Environment Assembly resolutions and other global commitments.

The Summit culminated in a call for collaborative action to ensure that environment and development is approached in an integrated way, from promoting the sustainable management of natural resources, urban planning and spatial development, to fostering sustainable agriculture practices and advancing the green economy to reduce waste and pollution.

Participants at the Summit, jointly organized by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and UN Environment also highlighted the urgency of addressing environmental health risks associated with pollution, promoting resource efficiency measures and practices, and protecting natural capital and ecosystem integrity including wildlife, biodiversity and oceans.

United Nations Under-Secretary General and Executive Secretary of ESCAP Dr. Shamshad Akhtar said, “This is an important cornerstone of regional collaboration on sustainable management of natural resources in Asia and the Pacific. It underpins the agreement already reached in the regional roadmap for sustainable development and provides us with the vision of our member States on future cooperation.”

“There is a clear resolve to bring about a pollution free Asia Pacific. Political leadership, private sector engagement and citizen action is essential to ensure that people’s basic needs like access to healthcare, water and proper sanitation are met. At the same time, it is imperative that we step up efforts to reduce plastic waste and marine litter,” said Erik Solheim, head of UN Environment.

Other issues addressed at the periphery of the Summit include gender and environment, oceans governance, climate geoengineering, investments in water infrastructure and the Astana Green Bridge Initiative.

Barcelona truck attack reportedly leaves at least 12 dead and 80 injured

Thanks;

Published: Aug 17, 2017 4:27 p.m. ET

MW-FS548_barcel_20170817131833_ZHPeople move from the scene after a van crashed into pedestrians near the pedestrianized central thoroughfare Las Ramblas in Barcelona

Officials embark on terrorism investigation

MADRID (MarketWatch) — A popular promenade in Barcelona, Spain, became a scene of panic and devastation on Thursday after a van rammed pedestrians, leaving a dozen people dead and dozens more injured.

The incident took place on Las Ramblas, a long, tree-lined street that is typically packed with tourists and locals, around 5 p.m. local time (11 a.m. Eastern time).

Local media were at one point reporting that hostages were being held at a bar near the scene of the attack by other assailants, but later reports cast doubt on the matter. The Associated Press cited the regional president in reporting that two suspects had been arrested.

The Wall Street Journal, citing the jidahist-activity-monitoring organization SITE Intelligence Group, reported that Islamic State had claimed responsibility for the attack. Spain’s prime minister, Mariano Rajoy, tweeted that terrorists would never defeat a united people who love freedom.

The seaside city was on lockdown in the immediate wake of the attack, with residents told to not leave their homes and many reported to be sheltering inside stores and restaurants and bars that closed the moment news of the attack reached them.

Media reports in Spain and the U.S. indicated the police were treating the incident as a terrorist attack. The police presence on streets in the Spanish capital Madrid, some 600 kilometers southwest of Barcelona, was sharply escalated in the wake of the Barcelona attack.

Nathalie Lezcano Sticchi, a 28-year-old resident of Barcelona who lives near the area, told MarketWatch she had passed the scene of the attack just five minutes before, stepping off the Ramblas to go into a Zara clothing store on a side street.

“When I was on the first floor, one of the guys who was working [at Zara] said, ‘You have to go outside, we are going to close because something is happening at the Ramblas,’ ” Sticchi said in a telephone interview. She said a friend had forwarded her a message from his mother, who had been at Las Ramblas and seen a truck crashing into people.

Sticchi ran to her house, as stores drew their shutters all around her. “People were running everywhere, and no one understood what was going on,” she said, “and I started hearing ambulances.”

Several metro lines were closed in Barcelona, and the area remained sealed off into the evening. Police were urging individuals not to share images of the crash site on social media. They also thanked the media for pixellating images they had chose to use of victims:

‘It’s time to propose this’: Trump and Brexit give momentum to EU defense push

Thanks; Gabriela Baczynska &               Robin Emmott, Reuters


European Commissioner Bienkowska arrives to a meeting of EU defence ministers in BrusselsThomson Reuters

BRUSSELS (Reuters) – The European Union’s executive is ready to increase support for the bloc’s first ever defense research program, offering more funds to develop new military hardware in its earliest stages after years of government cuts, a top EU official said.

Following a 90-million-euro pilot investment from the EU’s common budget in 2017-2019, the European Commission is proposing 500 million euros ($563 million) for the 2019-2020 period that could rise to 1 billion euros a year from 2021, Industry Commissioner Elzbieta Bienkowska told Reuters.
“European citizens see security as the number one thing that Europe should provide to them, so it’s time to propose this,” Bienkowska said in an interview.
With Britain, one of EU’s leading military powers, leaving the bloc, ideas for common EU defense are gathering pace in the wake of Islamic attacks in Western Europe. Europeans are also worried about US commitment to NATO under President Donald Trump.
Under the proposal unveiled on Wednesday, at least three firms and two member states would have to submit a joint project to be eligible for financing from the EU budget.
If agreed by governments and the European Parliament, the EU budget would put up 20 percent of the costs of developing prototypes, Bienkowska said.
“The prototype phase is the riskiest one and it is very important to have incentives from the European budget to prepare common projects,” she added.
A European drone is often cited as an example of how EU funding can help get projects underway. Bienkowska said she also hoped to see cyber projects from smaller firms and innovative startups.

She said she wants negotiations and legislative work between the Commission, member states and the European Parliament to finalize by the end of 2018.


U.S. President Donald Trump (R) speaks to Britain’s Prime Minister Theresa May during in a working dinner meeting at the NATO headquarters during a NATO summit of heads of state and government in Brussels, Belgium, May 25, 2017.

Brexit factor

The EU’s political capital Brussels hopes it can turn the tables on Brexit – an unprecedented setback in 60 years of European integration – by moving ahead with closer defense and security cooperation, which London had long blocked.
The EU, where most governments are also NATO allies, have also come under increased pressure from Trump, who last month scolded the Europeans for failing to spend enough on their own defense.

Though Bienkowska said work on promoting more security and defense cooperation in the EU has started two years ago, she admitted Europe’s unease about Trump gives it additional momentum: “All developments in the United States will make our cooperation (in Europe) stronger.”

“We will work more closely in the European Union, what we want to achieve is to have a stronger European defense and a stronger NATO.”

Russia’s 2014 annexation of Crimea from Ukraine and its subsequent backing for militias fighting Kiev troops in the industrial east of the former Soviet republic also add to the bloc’s security concerns.
The EU estimates it loses up to a 100 billion euros a year on duplication, leaving it with far fewer capabilities than the United States. Years of defense cuts have worsened the issue as national governments jealously protect their own firms.
Europe has 37 types of armored personal carriers and 12 types of tanker aircraft compared to nine and four respectively in the United States, according to EU analysis.
European Commissioner Elzbieta Bienkowska arrives to a meeting of European Union defence ministers at the EU Council in Brussels, Belgium May 18, 2017. REUTERS/Eric Vidal

European Commissioner Bienkowska arrives to a meeting of EU defence ministers in BrusselsThomson Reuters

BRUSSELS (Reuters) – The European Union’s executive is ready to increase support for the bloc’s first ever defense research program, offering more funds to develop new military hardware in its earliest stages after years of government cuts, a top EU official said.

Following a 90-million-euro pilot investment from the EU’s common budget in 2017-2019, the European Commission is proposing 500 million euros ($563 million) for the 2019-2020 period that could rise to 1 billion euros a year from 2021, Industry Commissioner Elzbieta Bienkowska told Reuters.
“European citizens see security as the number one thing that Europe should provide to them, so it’s time to propose this,” Bienkowska said in an interview.
With Britain, one of EU’s leading military powers, leaving the bloc, ideas for common EU defense are gathering pace in the wake of Islamic attacks in Western Europe. Europeans are also worried about US commitment to NATO under President Donald Trump.
Under the proposal unveiled on Wednesday, at least three firms and two member states would have to submit a joint project to be eligible for financing from the EU budget.
If agreed by governments and the European Parliament, the EU budget would put up 20 percent of the costs of developing prototypes, Bienkowska said.
“The prototype phase is the riskiest one and it is very important to have incentives from the European budget to prepare common projects,” she added.
A European drone is often cited as an example of how EU funding can help get projects underway. Bienkowska said she also hoped to see cyber projects from smaller firms and innovative startups.
She said she wants negotiations and legislative work between the Commission, member states and the European Parliament to finalize by the end of 2018.
theresa may donald trump
U.S. President Donald Trump (R) speaks to Britain’s Prime Minister Theresa May during in a working dinner meeting at the NATO headquarters during a NATO summit of heads of state and government in Brussels, Belgium, May 25, 2017.Reuters/Thierry Charlier

Brexit factor

The EU’s political capital Brussels hopes it can turn the tables on Brexit – an unprecedented setback in 60 years of European integration – by moving ahead with closer defense and security cooperation, which London had long blocked.
The EU, where most governments are also NATO allies, have also come under increased pressure from Trump, who last month scolded the Europeans for failing to spend enough on their own defense.
Though Bienkowska said work on promoting more security and defense cooperation in the EU has started two years ago, she admitted Europe’s unease about Trump gives it additional momentum: “All developments in the United States will make our cooperation (in Europe) stronger.”

“We will work more closely in the European Union, what we want to achieve is to have a stronger European defense and a stronger NATO.”
Russia’s 2014 annexation of Crimea from Ukraine and its subsequent backing for militias fighting Kiev troops in the industrial east of the former Soviet republic also add to the bloc’s security concerns.
The EU estimates it loses up to a 100 billion euros a year on duplication, leaving it with far fewer capabilities than the United States. Years of defense cuts have worsened the issue as national governments jealously protect their own firms.
Europe has 37 types of armored personal carriers and 12 types of tanker aircraft compared to nine and four respectively in the United States, according to EU analysis.

“Up until now, member states were doing things completely separately, without any cooperation. I want to appeal to the member states to think about common projects, because the money will be there,” Bienkowska said.
For the future, Bienkowska is mulling a common European defense bond for joint purchases from 2021, though she said no decisions had yet been taken.
Italy is a proponent of issuing joint EU debt, as well as exempting various types of spending from budget deficit limits. Germany, on the other hand, which is the bloc’s largest economy and key power, is opposed to both these approaches. ($1 = 0.8887 euros)
(Editing by Pritha Sarkar)

Paris agreement or not, solar employment looking brighter than coal

Thanks;Andrea Riquier

Published: June 2, 2017 1:20 p.m. ET

Nearly 400,000 people are employed in solar, more than double the number of coal workers

Republican presidential nominee Donald Trump holds a sign supporting coal during a rally at Mohegan Sun Arena in Wilkes-Barre, Pennsylvania on October 10, 2016.

As he introduced President Donald Trump in the Rose Garden yesterday, Vice-President Mike Pence said the president’s decision to withdraw from the Paris climate accord was his way of putting “forgotten men and women” first.

And if anyone had any doubt who those “forgotten” souls were, the president himself departed from his prepared remarks to riff, “I happen to love the coal miners”But observers of the energy industry say it’s not that coal miners are forgotten. Instead, a perfect storm of workforce automation, a glut of natural gas, and consumer preferences has combined to make them obsolete.

“There are huge tectonic trends that are almost all mitigating against any near-term recovery of coal,” said Mark Muro, director of policy at the Metropolitan Policy Program at the Brookings Institution. “It simply is not needed given the onset of extremely cheap and clean natural gas and the onset of renewables.”
On Friday, National Economic Council Director Gary Cohn was asked about the administration’s emphasis on employment in a shrinking industry. Cohn told CNBC, “At some point in the cycle, coal will be competitive again. We want to keep coal available, we want to be in the coal business.”

But observers of the energy industry say it’s not that coal miners are forgotten. Instead, a perfect storm of workforce automation, a glut of natural gas, and consumer preferences has combined to make them obsolete.

“There are huge tectonic trends that are almost all mitigating against any near-term recovery of coal,” said Mark Muro, director of policy at the Metropolitan Policy Program at the Brookings Institution. “It simply is not needed given the onset of extremely cheap and clean natural gas and the onset of renewables.”
On Friday, National Economic Council Director Gary Cohn was asked about the administration’s emphasis on employment in a shrinking industry. Cohn told CNBC, “At some point in the cycle, coal will be competitive again. We want to keep coal available, we want to be in the coal business.”  

But modern technology – particularly in the large-scale open-pit mining centers of the west, far from the Rust Belt – means that “even if demand for coal returned, the jobs wouldn’t. It’s pretty devastating,” Muro told MarketWatch.

It’s very challenging to break out how many people are employed in any part of the energy industry, in part because there are so many different components to each. There are jobs created in the initial energy generation process, and then there are support categories: manufacturers and installers of rooftop solar panels, for example. The Labor Department classifies many of those installation jobs within the construction industry, for example.
The Labor Department reported Friday that 51,000 people were employed in coal mining in May. But BLS doesn’t break out employment in other forms of energy production in any way for comparison.
In January, the outgoing Obama administration Energy Department released a report on energy and employment that showed that over 370,000 people were employed in the solar industry, compared to 86,000 in the coal industry. Over 101,000 people work in the wind power generation industry.
It’s worth noting that solar is so labor-intensive now in part because it’s just gaining a foothold. About 37% of solar electric generation jobs are construction and installation, the Energy Department’s report noted. So it’s likely that over time, solar won’t be as much of a job creator as it is now.
In 2011, Brookings released a substantial research report on what it termed the “clean economy,” which delved more deeply into job categorizations, among other things. The researchers noted that green energy efforts are beneficial in many ways, including by being manufacturing and export intensive. In 2009, the authors wrote, 5.3% of all U.S. goods exports were from “clean economy establishments.”
The clean economy also “offers more opportunities and better pay for low- and middle- skilled workers than the national economy as a whole,” the report noted.
In May, the International Renewable Energy Agency said the number of people working in the renewables sector internationally could more than double in the next 13 years, “more than offsetting fossil-fuel job losses and becoming a major economic driver around the world.”

China sparks human rights outcry by ramping up DNA testing in Muslim-dominated region

Thanks;Matthew Brown 

Published ; Wednesday 17 May 2017 07:34 
Police in Xinjiang purchase $8.7m of equipment to analyse genetic material from citizens, prompting fears of state security crackdown

Ethnic Uighurs sit near a statue of China’s late Chairman Mao Zedong in Kashgar, Xinjiang Thomas Peter/Reuters 

China appears to be laying the groundwork for the mass collection of DNA samples from residents of a restive, largely Muslim region that’s been under a security crackdown, rights observers and independent experts said Tuesday.

Police in western China’s Xinjiang region confirmed to The Associated Press that they are in the process of purchasing at least $8.7 million in equipment to analyse DNA samples.
Observers from Human Rights Watch said they’ve seen evidence of almost $3 million in additional purchases related to DNA testing. They warned such a collection programme could be used as a way for authorities to beef up their political control.
The move comes after Chinese authorities last year reportedly required Xinjiang residents to submit DNA samples, fingerprints and voice records to obtain passports or travel abroad.

Xinjiang borders several unstable Central Asian countries, including Afghanistan. It’s experienced numerous bombings and vehicle and knife attacks blamed on ethnic separatists from the native Uighur Islamic minority.

In one of the most recent attacks, eight people, including three assailants, were killed in a February knife attack in southern Xinjiang’s Pishan County, which borders Pakistan.

Chinese authorities seeking to counter religious extremism among the Uighurs have taken increasingly aggressive steps to quell the unrest. Those have included mandatory satellite tracking systems for vehicles in some areas, rewards for terror-related tips and prohibitions against women wearing veils and men growing beards.

The purchases of DNA testing equipment in Xinjiang were confirmed by an official at the regional Public Security Bureau. The official, who gave only her surname, Huang, said a supplier already had been found. In Xinjiang’s Sheche County, suppliers were being sought for voiceprint collection systems and 3-D portrait systems, according to a security official surnamed Yin, who declined to give further details.
If used at full capacity, the new equipment could be used to profile up to 10,000 DNA samples a day and several million a year, said Yves Moreau, a computational biologist specialising in genome analysis and DNA privacy at the University of Leuven in Belgium.
The scale of the purchases raises “a legitimate concern that Chinese authorities could be planning to DNA profile a large fraction, or even all” of the Uighur people in Xinjiang, Moreau said.

Brexit is killing the pound but it’s having a really productive side-effect on Britain’s economy

Thanks;Lianna 


Brexit is having a seriously positive impact on employment.

LONDON – The pound has cratered against the US dollar ever since Britain voted to leave the European Union on June 23 last year.

But while that has a negative effect on Brits’ purchasing power, it is actually having a seriously positive impact on another sector in Britain’s economy – employment.

That is according to Sam Bowman, the executive director of one of the world’s prominent think tanks, the Adam Smith Institute, who spoke at a local Conservative party conference in East Croydon, which Business Insider attended on Saturday.
He was talking about how Brexit is expected to affect the UK economy over the short and long term and looked at both positive and negative impacts from Britain planning to leave the European Union.
“Probably many people in this room are like me – frustrated by the tone of the Brexit debate, even eight or nine months after the referendum,” said Bowman.

“It feels like the referendum debate has never ended. On one side we have around 10% some extremely die-hard leavers, who refuse to accept there could be any difficulty on leaving the European Union. And then there is 10% extremely die-hard remainers who refuse to admit there would be any benefits from leaving the European Union.
“In the middle, I think, is the rest of us – 80% who accept the result and want to make Brexit work but also want to acknowledge that it is not necessarily going to be an easy ride.”
He also talked about how Brexit has already had an impact on the UK economy. But it is not all bad. Bowman said he is a “short term pessimist but a long term optimist about Brexit.”
Here is an excerpt from his speech:

“I think employment is likely to be quite strong. It is unlikely that [Brexit] will cause any large scale unemployment. even in a very, very pessimistic outcome – the reason for that being the pound has absorbed most of the costs, meaning that we effectively have real term wage cuts and our purchasing power falls but people become more employable as a result. So there are good and bad [aspects] to the fall in the pound.”
The pound against the US dollar tanked in the immediate aftermath of the EU referendum vote. While it has recently gained a little bit of ground to reach $1.28, it is still a far cry from the $1.50 last seen in June last year:

Markets Insider

UK flag glasses

Brexit is having a seriously positive impact on employment.Reuters

LONDON – The pound has cratered against the US dollar ever since Britain voted to leave the European Union on June 23 last year.

But while that has a negative effect on Brits’ purchasing power, it is actually having a seriously positive impact on another sector in Britain’s economy – employment.
That is according to Sam Bowman, the executive director of one of the world’s prominent think tanks, the Adam Smith Institute, who spoke at a local Conservative party conference in East Croydon, which Business Insider attended on Saturday.
He was talking about how Brexit is expected to affect the UK economy over the short and long term and looked at both positive and negative impacts from Britain planning to leave the European Union.
“Probably many people in this room are like me – frustrated by the tone of the Brexit debate, even eight or nine months after the referendum,” said Bowman.
“It feels like the referendum debate has never ended. On one side we have around 10% some extremely die-hard leavers, who refuse to accept there could be any difficulty on leaving the European Union. And then there is 10% extremely die-hard remainers who refuse to admit there would be any benefits from leaving the European Union.
“In the middle, I think, is the rest of us – 80% who accept the result and want to make Brexit work but also want to acknowledge that it is not necessarily going to be an easy ride.”

He also talked about how Brexit has already had an impact on the UK economy. But it is not all bad. Bowman said he is a “short term pessimist but a long term optimist about Brexit.”

Here is an excerpt from his speech:

“I think employment is likely to be quite strong. It is unlikely that [Brexit] will cause any large scale unemployment. even in a very, very pessimistic outcome – the reason for that being the pound has absorbed most of the costs, meaning that we effectively have real term wage cuts and our purchasing power falls but people become more employable as a result. So there are good and bad [aspects] to the fall in the pound.”

The pound against the US dollar tanked in the immediate aftermath of the EU referendum vote. While it has recently gained a little bit of ground to reach $1.28, it is still a far cry from the $1.50 last seen in June last year:

sterlingUSD1

Markets Insider

Since the Brexit vote, various economists and financial institutions predicted that the UK’s unemployment rate will shoot up as a result of the vote to leave. Credit Suisse, for example, predicts an increase to 6.5% for the base rate, equivalent to roughly 500,000 jobs being lost. However, the last few months have seen the rate remain near its record low and Wednesday’s figures show the trend appears to be holding up.

Unemployment in the UK fell once again in March, according to the latest data released by the Office for National Statistics on Wednesday.

Headline unemployment fell was 4.7% in the month while employment remained unchanged at 74.6% in the month, equalling a record high set in both January and February, but not seen before that since records began in 1971.

However, wage growth is still poor.

Dozens dead after Coptic Christian churches in Egypt are hit by Palm Sunday blasts

Thanks;Dahlia Kholaif

Published: Apr 9, 2017 9:33 a.m. ET

At least 36 killed in attacks on churches in Tanta and Alexandria

A relative of one of the victims weeps outside church in Tanta, Egypt.

CAIRO—Twin blasts struck Coptic churches in Egypt as worshipers gathered for Palm Sunday services, killing at least 36 people, as violence escalates against the country’s Christian population.

Security officials said an unknown assailant planted a bomb under a seat in the main hall of the Mar Girgis Church in the Nile Delta city of Tanta, some 60 miles north of Cairo, in the morning.

The ensuing explosion killed 25 people and wounded another 69, an adviser to Egypt’s health minister told state media. Footage aired on official television showed blood stains sprayed over the floor of the church hall, shattered furniture and rubble sprayed on wooden benches.
Separately, a suicide bomber attempted to enter Saint Mark’s Church in the center of the coastal city of Alexandria, blowing himself up at the entrance after being stopped by security, state media reported.