The plunge in oil prices has had a significant effect on Russia, Iran and Venezuela, and is changing those countries' geopolitical calculus.

Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a yearslong drought in the Horn of Africa that has reduced production. Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi's Kibera slum who survive on less than $2 a day. But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by a fifth since June. Wholesalers are yet to receive new stocks since India, the world's largest exporter of rice by far, said last month that it would ban some rice shipments. It's an effort by the world’s most populous nation to control domestic prices ahead of a key election year — but it’s left a yawning gap of around 9.5 million metric tons (10.4 tons) of rice that people around the world need, roughly a fifth of global exports. “I’m really hoping the imports keep coming,” said Ndege, 51, who's sold rice for 30 years. He isn’t the only one. Global food security is already under threat since Russia halted an agreement allowing Ukraine to export wheat and the El Nino weather phenomenon hampers rice production. Now, rice prices are soaring — Vietnam’s rice export prices, for instance, have reached a 15-year high — putting the most vulnerable people in some of the poorest nations at risk. The world is at an “inflection point," said Beau Damen, a natural resources officer with the U.N. Food and Agriculture Organization based in Bangkok. Even before India’s restrictions, countries already were frantically buying rice in anticipation of scarcity later when the El Nino hit, creating a supply crunch and spiking prices. What could make the situation worse is if India’s ban on non-basmati rice creates a domino effect, with other countries following suit. Already, the United Arab Emirates has suspended rice exports to maintain its domestic stocks. Another threat is if extreme weather damages rice crops in other countries. An El Nino is a natural, temporary and occasional warming of part of the Pacific Ocean that shifts global weather patterns, and climate change is making them stronger. Scientists expect the one underway to expand to supersized levels, and, in the past, they have resulted in extreme weather ranging from drought to flooding. The impact would be felt worldwide. Rice consumption in Africa has been growing steadily, and most countries are heavily dependent on imports. While nations with growing populations like Senegal have been trying to grow more of their own rice — many are struggling. Amadou Khan, a 52-year-old unemployed father of five in Dakar, says his children eat rice with every meal except breakfast, which they often have to skip when he's out of work. “I am just getting by — sometimes, I’ve trouble taking care of my kids,” he said. Imported rice — 70% of which comes from India — has become prohibitively expensive in Senegal, so he's eating homegrown rice that costs two-thirds as much. Senegal will turn to other trading partners like Thailand or Cambodia for imports, though the West African country is not “far from being self-sufficient" on rice, with over half of its demand grown locally, Agriculture Ministry spokesperson Mamadou Aïcha Ndiaye said. Asian countries, where 90% of the world’s rice is grown and eaten, are struggling with production. The Philippines was carefully managing water in anticipation of less rain amid the El Nino when Typhoon Doksuri battered its northern rice-producing region, damaging $32 million worth of rice crops — an estimated 22% of its annual production. The archipelago nation is the second-largest importer of rice after China, and President Ferdinand Marcos Jr. has underscored the need to ensure adequate buffers. India’s rice restrictions also were motivated by erratic weather: An uneven monsoon along with a looming El Nino meant that the partial ban was needed to stop food prices from rising, Indian food policy expert Devinder Sharma said. The restrictions will take offline nearly half the country's usual rice exports this year, said Ashok Gulati of the Indian Council for Research on International Economic Relation. Repeated restrictions make India an unreliable exporter, he added. “That’s not good for the export business because it takes years to develop these markets,” Gulati said. Vietnam, another major rice exporter, is hoping to capitalize. With rice export prices at a 15-year high and expectations that annual production to be marginally higher than last year, the Southeast Asian nation is trying to keep domestic prices stable while boosting exports. The Agriculture Ministry says it's working to increase how much land in the Mekong Delta is dedicated to growing rice by around 500 square kilometers — an area larger than 90,000 football fields. Already the Philippines is in talks with Vietnam to try to get the grain at lower prices, while Vietnam also looks to target the United Kingdom, which receives much of its rice from India. But exporters like Charoen Laothamatas in neighboring Thailand are wary. The Thai government expects to ship more rice than it did last year, with its exports in the first six months of the year 15% higher than the same period of 2022. But the lack of clarity about what India will do next and concerns about the El Nino means Thai exporters are reluctant to take orders, mill operators are unwilling to sell and farmers have increased the prices of unmilled rice, said Laothamatas, president of the Thai Rice Exporters Association. With prices fluctuating, exporters don't know what prices to quote — because prices may spike again the next day. “And no one wants to take the risk,” Laothamatas said.

NEW YORK — The rush for gold just keeps coming. Gold hit another all-time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world. If trends continue, analysts have bullish outlooks on the price of gold for the months ahead. But the future is never promised. Here's what you need to know. Where does the price of gold stand today? The New York spot price of gold closed Tuesday at just over $2,657 per Troy ounce — the standard for measuring precious metals, which is equivalent to 31 grams — the highest recorded to date, per FactSet. That would make a gold bar or brick weighing 400 Troy ounces worth more than $1.06 million today. This week's record high means that the price of gold has climbed hundreds of dollars per Troy ounce over the last year. Tuesday's price is up nearly $145 from a month ago and more than $740 from this time in 2023. The price of gold is up nearly 30% year to date, analysts note — outpacing the benchmark S&P 500's roughly 20% gain since the start of 2024. Why is the price of gold going up? There are a few factors behind the recent gains. Interest in buying gold often comes at times of uncertainty — with potential concerns around inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money. Gold also surged in the early days of the COVID-19 pandemic. Among sources of uncertainty today are geopolitical tensions — which escalated over recent days with Israel's deadly strikes in Lebanon. And the ongoing wars in Gaza and Ukraine have continued to fuel fears about the future worldwide. In markets like the U.S., there's also particular concern about the health of the job market. Last week's larger-than-usual half-point cut by the Federal Reserve signals a new focus on slowing employment numbers, and more rate cuts are expected before the end of the year. And such action arrives in the midst of a tumultuous election year — which could prove crucial to economic policy in the road ahead, too. In the near future, people are considering "any case of turbulence in the economy," FxPro senior market analyst Michel Saliby explained. "This is why they're keeping a decent portion of gold in their portfolio as a 'safe haven.'" Analysts also point to strong demand from central banks around the world. Joe Cavatoni, senior market strategist at the World Gold Council, noted last month that central bank demand was well-above the five year average — reflecting "heightened concern with inflation and economic stability." Recent stimulus measures in China aimed at boosting consumer spending are also expected to up retail investments, Saliby added, further boosting gold's performance. Is gold worth the investment? Advocates of investing in gold call it a "safe haven," arguing the commodity can serve to diversify and balance your investment portfolio, as well as mitigate possible risks down the road. Some also take comfort in buying something tangible that has the potential to increase in value over time. Experts caution against putting all your eggs in one basket. Both retail and institutional investors shouldn't be influenced by the "FOMO effect," or fear of missing out, Saliby notes — explaining that people should not risk all their money just because they are seeing others rake in gains. He advises investors to watch the market and always have a clear risk management strategy for their position. If geopolitical tensions cool, Saliby expects the price of gold to correct slightly, perhaps falling around $50 to $80. But he remains bullish overall for the near future — expecting gold's spot price to soon surpass the $2,700 mark previously predicted for 2025, and perhaps reach as high as $2,800 or $2,900 if trends continue. Still, future gains are never promised and not everyone agrees gold is a good investment. Critics say gold isn't always the inflation hedge many say it is — and that there are more efficient ways to protect against potential loss of capital, such as through derivative-based investments. The Commodity Futures Trade Commission has also previously warned people to be wary of investing in gold. Precious metals can be highly volatile, the commission said, and prices rise as demand goes up — meaning "when economic anxiety or instability is high, the people who typically profit from precious metals are the sellers." If you do choose to invest in gold, the commission adds, it's important to educate yourself on safe trading practices and be cautious of potential scams and counterfeits on the market.

LIVE: The 2024 General Assembly is now underway in Washington, DC, bringing together Jewish communities nationwide to confront unprecedented challenges. 

Israel faces a choice: Pursue diplomatically fradulent West Bank annexation or focus on Iran and regional security threats.

[Premium Times] The police on Tuesday morning received a report that a bomb was allegedly planted around Murtala Way, Jos.

[Nyasa Times] Malawians across the country are feeling the weight of soaring cooking oil prices, with many struggling to make ends meet as the cost of living continues to rise. Over the past month, the price of cooking oil has surged by an average of 12%, forcing consumers to dig deeper into their pockets to purchase essential household items.

This exquisite stuffed rabbit recipe from Ta' Marija restaurant, renowned for traditional Maltese cuisine, brings a flavourful twist to a classic dish. Infused with aromatic herbs, honey, and spices, it’s a deliciously unique way to enjoy rabbit

Solar power is now priced competitively with traditional forms of energy, which makes new nuclear power plants financially unviable.

Anyone interested in unsolved murders and disappearances will find much to study in Sri Lanka. Fifteen to twenty years ago, the country made global headlines, not only for the government’s military offensive against the Liberation Tigers of Tamil Eelam (LTTE) guerrillas but also for the numerous murders of journalists. The newly elected president, Anura Kumara […]

Police and electricity authorities have raided buildings in Chachoengsao and Surat Thani provinces, arrested suspects and seized cryptocurrency mining machines that stole tens of millions of baht worth of electricity.

An orphanage foundation in Chiang Mai will have its licence revoked by the Social Development and Human Security Ministry (MSDHS) following a complaint alleging that its employees mistreated children between the ages of three and six, according to Minister Varawut Silpa-archa.

[Radio Dalsan] Somaliland's Vice President, Abdirahman Abdillahi Ismail Saylici, made headlines on Sunday by publicly endorsing the opposition Waddani Party just days before the November 13 presidential election.

A weekly selection of opinions and analyses from the Arab media around the world.

Police detain dozens in Amsterdam after demonstrations banned

Macron and Starmer lay wreath at Paris' Tomb of the Unknown Soldier on Armistice Day

World record set at extreme Antarctica Ice Ultra race

Dutch police disperse people from streets after Amsterdam tram set on fire

With the upcoming Kovačević ruling, let justice be done for Bosnia’s democracy

Sarah Strack is Forus Director

On the heels of the Summit of the Future and the sidelines of the United Nations High-Level Meeting Week, governments and philanthropies pledged to commit at least USD 350 million to boost family planning, sexual and reproductive health and supplies on the national and global level. As enshrined in the newly-adopted Pact for the Future, […]

We must build a new social contract for education – a contract based on equality, equity, and universal human rights. At the center of our global efforts to ensure education for all, we must put teachers first in everything we do. They are frontlines heroes who deliver every day to educate children, cultivate young talent, […]

Princess Beatrice stepped into the spotlight earlier this week during a visit to The King’s Foundation’s Future Textiles exhibition at the Garrison Chapel in London. The 36-year-old royal was warmly greeted by Jacqueline Farrell, the charity’s Education Director, and had the...

Small-scale fishers play a fundamental role in feeding people—they use sustainable methods of catching and processing fish products and are a significant force in the employment and livelihoods of millions of people internationally—yet, until now, they have been excluded from climate and biodiversity conferences. For the first time at COP 16, which closed in Cali, […]

  Climate change continues to pose an existential threat to humanity. Recent science estimates that we may have less than six years left to change course. This intensifying climate emergency is being seen everywhere in heatwaves, droughts, floods, fires, and hurricanes. April of this year was the world’s hottest month on record – the 11th […]

“We were not hiding anything,” Cumpio said during the hearing. “We would have allowed them in because we have nothing illegal to hide,” she said, referring to the Feb. 7, 2020 raids.

“We’re ready to testify before the QuadComm as victims of extrajudicial killings,” Rosenda Lemita said, stressing that they want Duterte and those responsible to face investigation. For these families, the government’s “nanlaban” excuse is not just for the drug war but also for silencing activists.

ADB has a vacancy for the position of Senior Ombuds Programs Officer in the Office of the Ombudsperson. The deadline for submitting applications is on 13-NOV-2024.

ADB has a vacancy for the position of Senior IT Officer (Change Lead) in the Information Technology Department . The deadline for submitting applications is on 13-NOV-2024.

ADB has a vacancy for the position of Senior Compliance Review Officer in the Office of the Compliance Review Panel. The deadline for submitting applications is on 21-NOV-2024.

ADB has a vacancy for the position of Associate IT Officer (Technology Operations Governance and Service Management) in the Information Technology Department . The deadline for submitting applications is on 19-NOV-2024.

ADB has a vacancy for the position of Associate Climate Change Officer in the Climate Change and Sustainable Development Department. The deadline for submitting applications is on 23-NOV-2024.

ADB has a vacancy for the position of Project Officer (Transport) in the Sectors Group. The deadline for submitting applications is on 26-NOV-2024.

ADB has a vacancy for the position of (Associate) Human Resource Officer in the Budget, People, and Management Systems Department. The deadline for submitting applications is on 20-NOV-2024.

Colorado voters on Tuesday rejected Proposition 131, which would have upended the way elections are conducted in the state and moved the state to a ranked-choice voting system.

Denver police sergeant Stephanie Neblock was arrested on suspicion of domestic violence assault in Douglas County, the Denver Police Department said in a press release. 

The mountain lion was considered a public threat and had activated a shelter-in-place order for nearby residents.

“While the investigation takes place, the town will refrain from any additional comment on this matter," according to a press release.

This study finds contract farming in Lao PDR to be effective in raising incomes of small farmers, thus reducing poverty.

A suspect who was allegedly involved in the 2023 blast at Peshawar Police Lines mosque, that claimed 84 lives, was arrested a day earlier and has been identified as police constable Muhammad Wali, the Khyber Pakhtunkhwa Inspector General of Police (IG) Akhtar Hayat Khan Gandapur revealed in a press briefing on Tuesday.

On Jan 30, 2023, a powerful explosion ripped through a mosque in Peshawar’s Red Zone area where between 300 and 400 people — mostly police officers — had gathered for prayers.

The banned Tehreek-i-Taliban Pakistan (TTP) had claimed responsibility for the attack. It later distanced itself from the blast but sources earlier indicated that it might have been the handiwork of some local faction of the outlawed group.

Addressing the press conference in Peshawar today, IG Gandapur said the “remaining missing link” was related to who had facilitated Qari, the alleged suicide bomber.

“As a result of that effort, […] we arrested this person along with two suicide jackets from near Jameel Chowk on Peshawar’s Ring Road on 11/11, meaning yesterday,” the IG stated, referring to the facilitator.

“Based on the interrogation, it was deduced that the facilitator was our own policeman,” who he identified as Muhammad Wali.

“The suspect operated in line with the order of the banned organisation Jamaatul Ahrar and has received Rs200,000 through the hundi-hawala system,” KP IG said, adding that the policeman also received Rs40,000 to Rs50,000 from the banned group per month.

“He received Rs200,000 which cost the lives of hundreds of people who were martyred. He sold his [own] brothers for this,” the IG added.

The top cop further revealed that the suspect dropped off the suicide bomber at the Pir Zakori bridge.

“After the blast occurred, he contacted his handler named Junaid and informed him about the success of the operation via Telegram,” he stated.

While the police already knew that Jamaatul Ahrar was involved in the blast, the suspect was the “missing link” who acted as a local facilitator.

The police inspector general said that Muhammad Wali was also involved in other incidents.

In Feb 2024, the suspect handed a pistol to a person from Jamaatul Ahrar named Saifullah in Lahore to target a member of the Ahmadiyya community, the KP IG said.

He targeted a priest at Peshawar’s Jameel Chowk in Jan 2022, he added.

According to Gandapur, social media played a key role in such incidents, adding that “Fitna al Khawarij and other extremist organisations use social media to brainwash and radicalise people”.

In July, the government, through an official notification, designated the TTP as Fitna al Khawarij, while mandating all institutions to use the term khariji (outcast) when referring to the perpetrators of terrorist attacks on Pakistan.

Then-KP IG Moazzam Jah Ansari had said in February last year that the suicide bomber was “clad in a police uniform”. He had said that technical evidence and information collected suggested that the blast was the work of TTP’s Jamaatul Ahrar faction.

In March 2023, the KP Counter-Terrorism Department (CTD) said the mastermind and the handler of the suicide bomber had been traced, stating that both of them were Afghan nationals.

Then-CTD chief Shaukat Abbas said the suicide bomber was identified only by his alias “Qari” and his handler was identified as Ghaffar aka Salma. He had further confirmed that the attack was carried out by Jamaatul Ahrar.

KARACHI: The Federal Board of Revenue’s (FBR) decision to fix the minimum retail price (MRP) of tea at Rs1,200 per kg for levying sales tax would make the commodity more expensive, warned traders on Tuesday.

Pakistan Tea Association (PTA) Chairman Mohammad Altaf said the MRP at the import stage would have an adverse impact of Rs150-300 per kg on imported tea prices.

The flat MRP also ignores global tea prices hovering between 0.50 cents to over $3 per kg. Tea is imported in different packaging, with bulk shipments typically weighing more than 5kgs and around/approximately 80kgs. An 18 per cent general sales tax is already charged based on the imported tea.

He said before fixing the MRP for sales tax purposes, it is crucial to consider that the definition of “manufacturer” in Section 2(16) of the Sales Tax Act 1990, includes activities such as blending, mixing, processing, and packaging, as clarified in Circular No. 3(11) ST-L&P/2013-94433-R dated July 17, 2019. Based on this, tea imported for these processes qualifies as “raw material”.

Tea sellers warn FBR move will incentivise arrival of low-quality product via illegal channels

“According to judicial interpretations (e.g., CTO v. Rajasthan Taxchem Ltd., 2007) and definitions in Advanced Law Lexicon, “raw material” includes ingredients necessary for manufacturing. Tea used in blending and packaging clearly falls under this category, he added.

Accordingly, sales tax should be based on the import value, as per Subsection 46(f) of Section 2 of the Sales Tax Act, 1990, rather than the minimum retail price, Altaf said.

Tea retail prices vary significantly due to numerous factors, including the company, method of sale (open or packaged), product quality, and regional differences. The PTA chief said that the flat MRP rate per kg also does not reflect the prices charged by most traders, manufacturers, and sellers.

The imposition of a flat rate per kg would have severe negative consequences for a large portion of the tea trade, which may result in reduced business activity and ultimately lead to a loss of revenue for the national exchequer via misusing several exemptions.

Two-thirds of Pakista­nis purchase tea at Rs700-950 per kg, reflecting socio-economic and regional price variations.

He said that MRP cannot be applied at the import stage as the tea has to follow various value-addition procedures before it is made shelf-ready. “This MRP disrupts the supply chain and eradicates the role of wholesalers and distributors who play a vital role in the business, while MRP at the import stage also eradicates the basic right of commercial imports,” the PTA chief observed.

Tea is a part of our daily diet, a staple food item, not a drink.

Most people in rural and urban areas consume tea as per their earnings. Further fixing of MRP will incentivise unscrupulous elements to exploit the situation, and thus, import of low-priced teas will find its way through illegal channels, Altaf feared.

Published in Dawn, November 13th, 2024

ISLAMABAD: The National Database and Registration Authority (Nadra) chief has told a National Assembly panel that the fees for identity cards will have to be increased if it opens up more offices.

In a briefing to the National Assembly’s Standing Committee on Interior on Tuesday, Nadra Chairman Lt General Munir Afsar said the authority has no office in 61 tehsils of Khyber Pakhtunkhwa and Balochistan.

The committee, which met for the second consecutive day with Raja Khurram Nawaz in the chair, was told that 26 National Registration Centres (NRCs) and three mega NRCs were currently operational in Karachi.

The authority is planning to open one more NRC and four mega NRCs in Karachi next year.

Chairman tells NA body six employees were sacked over data breaches

While talking about the security of Nadra’s infrastructure, Lt Gen Afsar said the agency monitors three to four hundred individuals daily to detect data leaks and unauthorised identity card issuances.

He said six Nadra employees, including a grade-19 officer, have been dismissed over their alleged involvement in a data breach.

The breach compromised the data of around 2.7 million citizens between 2019 and 2023.

A joint investigation team formed to probe the data leak in March submitted a report to the Interior Ministry revealing that Nadra officers in Karachi, Multan and Peshawar were involved in the data theft.

The NA committee was informed that Nadra had dismissed 202 hired and 60 officers during the last five years.

The authority’s revenue has increased from Rs23.55billion in 2019-20 to Rs57bn in 2023-24.

FIA DG briefs committee

The Federal Investigation Agency (FIA) director general, Ahmad Ishaque Jehangir, briefed the committee about human smuggling networks recently uncovered by his organisation.

He said smugglers in Lahore, Rawalpindi and Karachi lure people with the prospects of overseas employment.

He said the agency was probing the case further, and the investigation is expected to conclude in six to seven months as this is a cross-border crime, and additional information is required from law enforcement agencies in Romania.

An additional inspector general (AIG) of Punjab police briefed the participants on rape cases involving minors reported in the province over the past five years.

From 2020 to 2024, 8,306 such cases were registered, with 6,950 accused arrested. Of these, 299 were convicted, 1,736 acquitted, 1,088 discharged, and 3,827 cases were still under trial, the lawmakers were told.

The committee also discussed the new “Criminal Law (Amendment) Bill, 2024 and directed the ministry to include a clause permitting the filing of an FIR against Discos and employees responsible for overbilling.

The members said that electricity usage and theft slabs should be specified in the bill and that the proposed law should differentiate between residential, commercial, and industrial users.

Published in Dawn, November 13th, 2024

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