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American, French, Canadian Scientists Get Nobel Physics Prize

The 2018 Nobel Prize for Physics has been awarded to Arthur Ashkin of the United States, France’s Gerard Mourou and Donna Strickland of Canada for their “groundbreaking inventions in the field of laser physics.”  

The Royal Swedish Academy of Sciences gave half of the $1 million prize to Ashkin, while the other researchers will share the other half.

The academy said their work in advanced precision instruments — described as “tools made of light” — has opened up “unexplored areas of research and a multitude of industrial and medical applications.”

Ashkin was noted for his invention of so-called optical tweezers that use “the radiation pressure of light to move physical objects,” while Mourou and Strickland were honored for developing a new method for generating high-intensity, ultra-short optical pulses that have led to such everyday practices as corrective eye surgery.

The remaining two Nobel Prizes of 2018, for chemistry and peace, will be announced on Wednesday and Friday, respectively.  The literature prize will not be given this year because of a sexual misconduct scandal at the Swedish Academy, the body that decides the award. The Nobel Memorial Prize for Economic Sciences will be announced on Monday, October 8.

 
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GE, Seeking Path Forward as a Century-old Company, Ousts CEO

General Electric ousted its CEO, took a $23 billion charge and said it would fall short of profit forecasts this year, further signs that the century-old industrial conglomerate is struggling to turn around its vastly shrunken business.

 

H. Lawrence Culp Jr. will take over immediately as chairman and CEO from John Flannery, who had been on the job for just over a year. Flannery began a restructuring of GE in August 2017, when he replaced Jeffrey Immelt, whose efforts to create a higher-tech version of GE proved unsuccessful.

 

However, in Flannery’s short time, GE’s value has dipped below $100 billion and shares are down more than 35 percent this year, following a 45 percent decline in 2017.

 

The company was booted from the Dow Jones Industrial Average this summer and, last month, shares tumbled to a nine-year low after revealing a flaw in its marquee gas turbines, which caused the metal blades to weaken and forced the shutdown of a pair of power plants where they were in use.

GE warned Monday that it will miss its profit forecasts this year and it’s taking a $23 billion charge related to its power business.

 

The 55-year-old Culp was CEO and president of Danaher Corp. from 2000 to 2014. During that time, Danaher’s market capitalization and revenues grew five-fold. He’s already a member of GE’s board.

 

It’s a track record that GE appears to need after a series of notable changes under Flannery failed to gain momentum immediately, although some analysts wonder whether Culp’s history of accomplishments will be enough to reverse the direction of the company.

 

The challenges GE faces — including the power sector’s cyclical, structural and operational challenges — are not easily or quickly fixable, but “GE should be commended for selecting a credible, seasoned GE outsider as chairman/CEO who is likely to more candidly and quickly identify how bad things may be and what needs to be done about it,” said Gautam Khanna, an analyst at Cowen Inc., in a note to investors.

 

Investors will want Culp to “clean house, and fast,” said Scott Davis, founding partner of Melius Research, in a research note where he compared GE’s recent history to a slow but fatal train wreck.

 

“If I’m a GE employee today, I’m happy for the turnaround, but expectations are about to get a whole lot higher…GE employees will either step up or will be replaced,” Davis said.

 

Flannery faced a titanic task in redirecting General Electric, which was founded in 1892 in Schenectady, New York.

 

Just six months after taking over as CEO, Flannery said the company would be forced to pay $15 billion to make up for the miscalculations of an insurance subsidiary. While Wall Street was aware of the issues at GE’s North American Life & Health, the size of the hit caught many off guard.

 

Flannery on the same day said that GE might take the radical step of splitting up the main company’s three main components — aviation, health care and power — into separate businesses.

 

In June GE said it would spin off its health-care business and sell its interest in Baker Hughes, a massive oil services company. It’s been selling off assets and trying to sharpen its focus since the recession, when it’s finance division was hammered.

 

“GE still has too much debt and plenty to fix, but at least we have an outsider with an accelerated mandate to fix it,” Davis said.

 

Flannery vowed to give GE more of a high-tech and industrial focus by honing in on aviation, power and renewable energy — businesses with big growth potential. The shift is historic for a company that defined the phrase “household name.”

 

GE traces its roots to Thomas Edison and the invention of the light bulb, and the company grew with the American economy. At the start of the global financial crisis in 2008, it was one of the nation’s biggest lenders, its appliances were sold by the millions to homeowners around the world and it oversaw a multinational media powerhouse including NBC television.

 

But the economic crises revealed how unwieldy General Electric had become, with broad exposure damage during economic downturns.

 

Shares of General Electric Co., based in Boston, surged 11 percent in midday trading.

 

Massachusetts Gov. Charlie Baker, who helped lure GE to Boston from Connecticut in 2016 with incentives like state grants and property tax relief, said he’s not too concerned about GE’s latest travails. He noted that the company is still worth about $100 billion and has what he called a “huge footprint” in Massachusetts in health care, green technology, and renewable energy.

 

He said the state “did not write a big check to GE based on job projections or anything like that.”
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Prosecutors: Suspect Paid Thousands of Euros to Have Slovak Journalist Killed

A female suspect allegedly paid tens of thousands of euros for the assassination of a Slovak reporter, whose death shocked the nation and led to the resignation of its prime minister, prosecutors said Monday.

The suspect, identified as Alena Zs, allegedly ordered the murder, paying €50,000 ($58,100) and forgiving a debt of €20,000. The hitman was identified as Tomas Sz, a former police officer. Two other accomplices are in custody.

Jan Kuciak and his fiancée Martina Kusnirova were found dead from gunshots wounds at their home near Bratislava in February.  Kuciak, 27, had been reporting on links between Slovak politicians and the Italian mafia. Prosecutors say he was killed to prevent his story from being published. Kusnirova was apparently an unintended victim.

Kuciak’s death was the first targeted killing of a journalist in the country’s history. Public outcry against the murders and government corruption was so strong that Prime Minister Robert Fico was forced to resign in March.

Local media reported Alena Zs had been an interpreter for Slovak multimillionaire Marian Kocner, whose business activities were being scrutinized by Kuciak at the time of his death. Kocner is reportedly the godfather of the Alena Zs’ daughter. 

Kocner, 55, owns several companies. He has been in custody since June on suspicion of having forged promissory notes. He has not been charged in connection with Kuciak’s killing. 

Observers say the murders are characteristic of a European political climate that has increasingly shifted away from freedom of the press.

“Despite the fact that Slovakia is a democracy and is an EU member, there has been this somewhat negative trend in regards to media freedom for some time,” Gulnoza Said of the Committee to Protect Journalists told VOA News. “It climaxed this year when Jan Kuciak and his fiancée were found murdered.”

“That just shows that even the situation in countries that have always been, or at least for some time have been considered democracies, is changing,” she said.
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Trump Hits Brazil, India Commerce After Clinching N. American Trade Deal

Fresh from clinching an updated North American commerce pact, U.S. President Donald Trump on Monday criticized Indian and Brazilian trade tactics, describing the latter as being “maybe the toughest in the world” in terms of protectionism.

Addressing reporters at a White House event to celebrate the agreement of an updated trilateral trade deal between the United States, Mexico and Canada, Trump added India and Brazil to a growing list of countries that, he argues, treat the world’s top economy unfairly in terms of commerce.

“India charges us tremendous tariffs. When we send Harley Davidson motorcycles, other things to India, they charge very, very high tariffs,” Trump said, adding that he had brought up the issue with Indian Prime Minster Narendra Modi, who he said was “going to reduce them very substantially.”

Modi’s office could not immediately be reached for a request for comment. India’s government has become more protectionist in recent months, raising import tariffs on a growing number of goods as it promotes its ‘Make in India’ program.

After criticizing India, Trump turned to Brazil, the second-largest economy in the Americas behind the United States.

“Brazil’s another one. That’s a beauty. They charge us whatever they want,” he said. “If you ask some of the companies, they say Brazil is among the toughest in the world – maybe the toughest in the world.”

Brazil is one of the world’s most closed major economies, and in recent months has tussled with the Trump administration over trade in sectors such as ethanol and steel.

After Trump’s comments, Brazil’s Foreign Trade Minister, Abrão Neto, defended the relationship, saying it was “very positive.” He added that over the last 10 years, the United States has enjoyed a trade surplus with Brazil of $90 billion in goods, and of $250 billion in goods and services.

Neto pointed out that the United States was Brazil’s second-largest trading partner, behind China, and that the two countries had a “complementary and strategic” commercial relationship that could, nonetheless, be improved.

Trump’s “America First” trade policies, particularly his escalating trade war with China, are aimed at boosting U.S. manufacturing, but they have spooked investors who worry that supply lines could be fractured and global growth derailed.

There are now U.S. tariffs active on $250 billion worth of Chinese goods, with threats on additional goods worth $267 billion.
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US Economists Optimistic About Growth, Worried About Tariffs

The economy should grow at a healthy pace this year and next, though the Trump administration’s trade policy will likely act as a drag, a group of business economists said. 

Growth should reach 2.9 percent this year, according to a survey of 51 economists by the National Association for Business Economics, released Monday. That would be up from just 2.3 percent in 2017. And growth is forecast to be 2.7 percent in 2019, the survey found. 

Overall, the economists are slightly more optimistic than they were when last surveyed three months ago. Buoyed by solid consumer spending and a healthy increase in business investment, the survey respondents expect the economy will overcome any negative impacts from higher tariffs. 

Just over half of the respondents expect that the next recession won’t arrive until 2020 at the earliest, while one-third said it wouldn’t occur until 2021. 

Inflation should remain in check, the survey found, rising to just 2.5 percent this year from 2.1 percent last year. Yet price gains will then likely moderate to 2.3 percent in 2019, the survey said. 

Still, worries over trade policy have darkened the outlook for many. Nearly 80 percent of the economists surveyed cut their growth forecasts for next year by up to one-half a percentage point, the NABE said, because of trade concerns. The Trump administration has slapped tariffs on most steel and aluminum imports and on nearly half the imports from China.

And one-half of the respondents have increased their inflation forecasts because of the import taxes.

More economists cited “trade policy” as the greatest risk to future growth, the NABE said, than any other issue. Higher interest rates and a large drop in the stock market were tied as the second-most likely risk, while just a few economists cited rising inflation and “labor shortages” as risks to growth. 

 

 
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‘Don’t Bully Us’, Britain Takes New Combative Tone to Brexit Talks

Britain cannot be bullied, Brexit minister Dominic Raab said on Monday, sharpening the government’s criticism of the European Union for taunting Prime Minister Theresa May and souring difficult Brexit talks.

May’s ministers have come out one by one at their party’s annual conference in the city of Birmingham to warn the EU that they will embrace leaving without a deal if the bloc fails to show “respect” in the talks to end Britain’s membership.

Just six months before Britain is due to leave the EU in the country’s biggest shift in foreign and trade policy in more than 40 years, May faces growing criticism over her proposals not only in her governing party but also in Brussels.

Party unity is on British ministers’ minds, and they are encouraging the faithful to direct their anger at the EU rather than at their prime minister, who some eurosceptic Conservatives accuse of leading Britain towards a “Brexit in name only.”

But the new strident tone has annoyed many in Brussels, especially when foreign minister Jeremy Hunt compared the bloc to the Soviet Union, the master of several states in eastern Europe which saw membership of the EU as a measure of their freedom.

Other ministers, such as finance minister Philip Hammond, have taken a softer tone, pointing out that leaving without a deal could hurt Britain’s economy, the world’s fifth largest.

But Raab said he had called on the EU to match the “ambition and pragmatism” Britain had put forward with May’s Chequers proposals, named after her country residence where an agreement with her ministers was hashed out in July.

“Unfortunately, that wasn’t on display in Salzburg,” he said, describing a summit last month in the Austrian city where EU leaders rejected parts of the Chequers plan. “Our prime minister has been constructive and respectful. In return we heard jibes from senior leaders and we saw a starkly one-sided approach to negotiation.”

“What is unthinkable is that this government, or any British government, could be bullied by the threat of some kind of economic embargo, into signing a one-sided deal against our country’s interests,” Raab said, later calling again on the EU to move their position and meet Britain half way.

Instead of the much-hoped-for staging post, the Salzburg summit has become a byword for a sharp deterioration in the atmosphere of the talks, when British government officials felt May was ambushed by the other EU leaders over Brexit.

“No Cherries”

A tweet by European Council President Donald Tusk showing him offering May a selection of cakes with the comment: “A piece of cake, perhaps? Sorry, no cherries” “certainly had an impact,” one official said.

With no divorce deal and a standoff over the shape of any future relationship, the possibility of a “no deal Brexit” has increased, with some businesses preparing for what they see as a worst case scenario.

European Commission President Jean-Claude Juncker said the discussion in Britain over Brexit was still far removed from reality.

“The world is watching,” said Matthew Fell, chief U.K. policy director at the Confederation of British Industry.

“Every signal is hugely important in terms of setting the tone. So the more that people can coalesce around some areas of agreement such as an industrial strategy, innovation and skills would be hugely helpful,” he told Reuters.

But one source close to the government said there was now a sense that the EU had realized that the tone set in Salzburg was “perhaps a bit off” and, behind the scenes, conversations between the two sides were more constructive.

Raab later said the government was open to looking at regulatory checks to try to ease talks on a so-called backstop to prevent a return to a hard border between the British province of Northern Ireland and EU member Ireland – one of the outstanding issues yet to be agreed.

Hammond, for one, was keen to pursue a more positive stance.

After Brexit, Britain and the EU will still “be neighbors and we are going to have to carry on living with each other,” he told the conference, again backing May’s Chequers plan. “Mr. Tusk says it won’t work. But that’s what people said about the light bulb in 1878. Our job is to prove him wrong.”

But Hunt’s popular line at conference, that the EU was acting like the Soviet Union, did little to soothe relations, provoking those eastern members of the bloc which only regained full independence after the collapse of the Soviet Union in 1991. They joined the EU more than a decade later.

Lithuania’s EU commissioner Vytenis Andriukaitis told Hunt he was born in a Soviet gulag forced labour camp and was jailed by the Soviet KGB state security agency.

“Happy to brief you on the main differences between EU and Soviet Union,” he said. “Anytime. Whatever helps.”

But back in Birmingham, it was Raab, winning a standing ovation for his story about his father’s journey from then Czechoslovakia after the Nazi invasion, who summed up Britain’s new combative stance.

“The EU’s theological approach allows no room for serious compromise,” he said. “If the EU want a deal, they need to get serious.”
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UN Court Rejects Bolivia’s Pacific Ocean Access Case

The United Nations’ highest court has rejected a request by Bolivia for its judges to order Chile to negotiate a way of granting landlocked Bolivia access to the Pacific Ocean.

International Court of Justice President Abdulqawi Ahmed Yusuf said Monday a string of agreements between the two countries and Chilean statements over the years didn’t create an obligation on Chile to negotiate access to the ocean for Bolivia.

Bolivia lost its only coast to neighboring Chile during a 1879-1883 war and the nation has demanded ocean access for generations.

But Chile argued in court that its border with Bolivia was settled in a 1904 treaty and that it had no obligation to negotiate.
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US Official: Romania’s Justice System is Being ‘Dismantled’

U.S. Ambassador to Romania Hans Klemm says the country’s legal system is being “dismantled” by legislators in order to protect their own interests.

Klem said Monday in a speech to University of Bucharest law students and faculty that judicial officials are being “increasingly targeted politically, and in the media for court decisions and public opinions that political leaders see as endangering their private interests.”

Klem said the result will be less accountability, more criminality, and less international cooperation in the fight against global threats, such as cybercrime, human trafficking, corruption, money laundering, and terrorism.

The Social Democrat government has made several changes to Romania’s legal code to decriminalize corruption since taking power in 2017.

Government crackdowns on civilian protests against the changes have led to accusations of police brutality.
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Catalan Separatists, Divided a Year After Vote, Block Roads

Pro-secession activists in Catalonia blocked major highways, train lines and avenues across the northeastern region Monday on the anniversary of a banned referendum that was crushed by police and failed to deliver independence from Spain.

Student strikes, emotional speeches and mass demonstrations were planned to commemorate the Oct. 1, 2017, vote that Spanish courts had deemed illegal and that caused the country’s gravest political crisis in decades.

The anniversary is being marked by a fractured Catalan independence movement fractured and amid a timid dialogue with the central government, now in the hands of a minority Socialist administration.

The day began with early protests called via online messaging apps by the Committees for the Defense of the Republic, or CDRs. They are local activist groups that emerged after last year’s independence declaration, based on the referendum’s results, was never implemented. Central authorities took control of Catalonia and a judicial investigation landed top separatist leaders in jail while others fled the country.

In Girona, north of Barcelona, hundreds of activists on Monday occupied high-speed railway tracks, halting train traffic for more than two hours before they peacefully left the local station. Some protesters then moved to the local headquarters of the Spanish government’s delegation, demanding the removal of the national flag from the building.

The CDRs also shared photos and posts on social media showing road blockages on regional roads and at several points along the AP-7 highway, the main north-south artery running through eastern Catalonia and leading to the French border.

Their presence also disturbed traffic on the main roads of Catalan cities like Lleida and Barcelona, the regional capital, where marches were planned throughout the day.

Maria Vila, a protester who was placing “Republic under construction” stickers in Barcelona’s main thoroughfare, said she wanted to highlight last year’s violence and demand more progress on secession.

“The Catalan government has not done much and we are determined to make the Catalan Republic happen, in any way we can, even if it is by holding another referendum, a legal one,” she told The Associated Press.

Meanwhile, members of the regional government and other top authorities returned to Sant Julia de Ramis, the northern town that has become a symbolic place for Catalan separatists because one year ago police stormed into the local school to prevent people from voting.

Carles Puigdemont, Catalonia’s president at the time, had been scheduled to vote there but had to find an alternative polling station when anti-riot police broke the gates of the school to confiscate ballot boxes and used batons to disperse and injure voters refusing to leave.

The incidents were broadcast live and brought pressure on the Spanish central government, at the time in the hands of conservatives. Separatists claimed a victory for independence in the vote despite its illegal nature, the police violence and a lack of oversight.

In a brief speech Monday, Catalonia’s current president, Quim Torra, called on supporters gathered outside of the Sant Julia de Ramis school to remember the lessons of the referendum and to press ahead with efforts to secede from Spain.

He spoke while some people held a banner behind him reading, in Catalan, “People demand, the government obeys,” a message that could be aimed at the Spanish government that says the country’s constitution doesn’t allow a referendum on a region’s secession, but also at regional separatist politicians who have been criticized for not delivering on the promise of independence.

Torra was hand-picked by Puigdemont from Belgium, where the separatist leader successfully fought off extradition and has been advocating for an independent Catalonia. On Monday, he released a video on Twitter calling on Catalans to remain united in persevering with the goal of breaking away from Spain.

“Let us not stray from the only possible way to live in a full democracy: the (Catalan) Republic and its international recognition,” Puigdemont said.

Torra has asked the government of Prime Minister Pedro Sanchez to authorize a binding vote on secession, and also to release the nine separatist leaders that are in pre-trial detention on rebellion and other charges.

Dialogue between the regional and national administrations has so far delivered some economic deals for funding the region but remains mired amid internal discord among separatists on the best strategy going forward and the weak parliamentary support for Sanchez’s government.

The spokeswoman of his new center-left government on Monday called last year’s police violence “a mistake” and blamed it for damaging the country’s reputation internationally. But Isabel Celaa also said the vote didn’t succeed: “There is nothing to celebrate” on Oct. 1, she told Cadena Ser radio.

Polls and recent elections show that the region’s 7.5 million residents are roughly equally divided by the secession question.

 
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New US-Canada Trade Pact Reached

After intense last-minute discussions ahead of a self-imposed midnight deadline, U.S. and Canadian officials announced late Sunday they reached a trade deal, allowing a modified three-way pact with Mexico to replace the nearly quarter-century old North American Free Trade Agreement. 

The U.S.-Mexico-Canada Agreement (USMCA) – underpinning $1.2 trillion in annual trade — is expected to be signed in 60 days by President Donald Trump and his Canadian and Mexican counterparts. 

“We think this is a fantastic agreement for the United States,” a senior administration official told reporters on a hastily convened briefing call, adding that it is “a great win for the president.” 

Trump had made criticism of the North American Free Trade Agreement (NAFTA) a centerpiece of his successful 2016 election campaign. 

“The worst trade deal maybe ever signed anywhere, but certainly ever signed in this country,” Trump had termed NAFTA, blaming it for the loss of American manufacturing jobs since it went into effect in 1994. 

The U.S. Congress is likely to act on USMCA next year. Its fate in the hands of American lawmakers remains far from certain, especially if the Democrats would take back control of the House of Representatives in the November midterm elections. 

“USMCA will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region,” said U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland in a joint statement. “It will strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.”

The U.S. agreement with Ottawa will boost American access to Canada’s dairy market – with some concessions on its heavily protected supply management system– while shielding the Canadians from possible U.S. auto tariffs. 

Steel and aluminum tariffs imposed by Washington, will remain, however. Canada had demanded protection from Trump’s tariffs on imported steel and aluminum.

The metal tariffs discussions are on a “completely separate track,” according to a senior U.S. official. 

In a big victory for Canada, NAFTA’s Chapter 19 dispute resolution system will remain intact. 

Leaving a Sunday night 75-minute Cabinet meeting, Canadian Prime Minister Justin Trudeau only said it was “a good day for Canada.”

The Trump administration had imposed a midnight Sunday deadline for Trudeau’s government to reach agreement on an updated NAFTA, or face exclusion from the treaty.

“This deadline was real,” according to a senior U.S. official. “We ended up in a good place that we ultimately think is a good deal for all three countries.” 

U.S. officials, in recent weeks, had been adamant that the text for a new deal – whether it would only be with Mexico or also include Canada – to be released by September 30 to meet congressional notification requirements and to allow outgoing Mexican President Enrique Pena Nieto to be able to sign the deal before he is succeeded by Andres Manuel Lopez Obrador, a left-wing populist. 

Canada’s government had faced strong opposition to elements of the revised pact from the country’s dairy farmers. Voters in Quebec, home to 354,000 dairy cows – the most of any province — head to the polls for provincial elections Monday, which cast a shadow over the last-minute negotiations. 

The National Association of Manufacturers (NAM) in the United States declared itself “extremely encouraged” by initial details of the new three-way pact. 

“As we review the agreement text, we will be looking to ensure that this deal opens markets, raises standards, provides enforcement and modernizes trade rules so that manufacturers across the United States can grow our economy,” said NAM President and Chief Executive Officer Jay Timmons. 

“This administration is committed to strong and effective enforcement of this agreement,” a senior U.S. official told reporters. “This is not going to just be words on paper. This is real.” 
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Fearing Debt Trap, Pakistan Rethinks Chinese ‘Silk Road’ Projects

After lengthy delays, an $8.2 billion revamp of a colonial-era rail line snaking from the Arabian Sea to the foothills of the Hindu Kush has become a test of Pakistan’s ability to rethink signature Chinese “Silk Road” projects due to debt concerns.

The rail megaproject linking the coastal metropolis of Karachi to the northwestern city of Peshawar is China’s biggest Belt and Road Initiative (BRI) project in Pakistan, but Islamabad has balked at the cost and financing terms.

Resistance has stiffened under the new government of populist Prime Minister Imran Khan, who has voiced alarm about rising debt levels and says the country must wean itself off foreign loans.

“We are seeing how to develop a model so the government of Pakistan wouldn’t have all the risk,” Khusro Bakhtyar, minister in Pakistan’s planning ministry, told reporters recently.

The cooling of enthusiasm for China’s investments mirrors the unease of incoming governments in Sri Lanka, Malaysia and Maldives, where new administrations have come to power wary of Chinese deals struck by their predecessors.

Pakistan’s new government had wanted to review all BRI contracts. Officials say there are concerns the deals were badly negotiated, too expensive or overly favored China.

But to Islamabad’s frustration, Beijing is only willing to review projects that have not yet begun, three senior government officials have told Reuters.

China’s Foreign Ministry said, in a statement in response to questions faxed by Reuters, that both sides were committed to pressing forward with BRI projects, “to ensure those projects that are already built operate as normal, and those which are being built proceed smoothly.”

Pakistani officials say they remain committed to Chinese investment but want to push harder on price and affordability, while re-orientating the China-Pakistan Economic Corridor (CPEC) — for which Beijing has pledged about $60 billion in infrastructure funds — to focus on projects that deliver social development in line with Khan’s election platform.

China’s Ambassador to Pakistan, Yao Jing, told Reuters that Beijing was open to changes proposed by the new government and “we will definitely follow their agenda” to work out a roadmap for BRI projects based on “mutual consultation.”

“It constitutes a process of discussion with each other about this kind of model, about this kind of roadmap for the future,” Yao said.

Beijing would only proceed with projects that Pakistan wanted, he added. “This is Pakistan’s economy, this is their society,” Yao said.

Islamabad’s efforts to recalibrate CPEC are made trickier by its dependence on Chinese loans to prop up its vulnerable economy.

Growing fissures in relations with Pakistan’s historic ally the United States have also weakened the country’s negotiating hand, as has a current account crisis likely to lead to a bailout by the International Monetary Fund, which may demand spending cuts.

“We have reservations, but no other country is investing in Pakistan. What can we do?” one Pakistani minister told Reuters.

Crumbling railways

The ML-1 rail line is the spine of country’s dilapidated rail network, which has in recent years been edging toward collapse as passenger numbers plunge, train lines close and the vital freight business nosedives.

Khan’s government has vowed to make the 1,872 km (1,163 mile) line a priority CPEC project, saying it will help the poor travel across the vast South Asian nation.

But Islamabad is exploring funding options for CPEC projects that depart from the traditional BRI lending model — whereby host nations take on Chinese debt to finance construction of infrastructure – and has invited Saudi Arabia and other countries to invest.

One option for ML-1, according to Pakistani officials, is the build-operate-transfer (BOT) model, which would see investors or companies finance and build the project and recoup their investment from cashflows generated mainly by the rail freight business, before returning it to Pakistan in a few decades time.

Yao, the Chinese envoy, said Beijing was open to BOT and would “encourage” its companies to invest.

Rail mega-projects under China’s BRI umbrella have run into problems elsewhere in Asia. A line linking Thailand and Laos has been beset by delays over financing, while Malaysia’s new Prime Minister Mahathir Mohamad outright cancelled the Chinese-funded $20 billion East Coast Rail Link (ECRL).

Beijing is happy to offer loans, but reticent to invest in the Pakistan venture as such projects are seldom profitable, according to Andrew Small, author of a book on China-Pakistan relations.

“The problem is that the Chinese don’t think they can make money on this project and are not keen on BOT,” said Small.

Off-book debts

During President Xi Jinping’s visit to Pakistan in 2015, the ML-1 line was placed among a list of “early harvest” CPEC projects that would be prioritized, along with power plants urgently needed to end crippling electricity shortages.

But while many other projects from that list have now been completed the rail scheme has been stuck.

Pakistani officials say they became wary of how early BRI contracts were awarded to Chinese firms, and are pushing for a public tender for ML-1.

Partly to help with price discovery, Pakistan asked the Asian Development Bank (ADB) to finance a chunk of the rail project through tendering. The ADB began discussions on a $1.5-2 billion loan, but China insisted the project was “too strategic”, and Islamabad kicked out the ADB under pressure from Beijing in early 2017, according to Pakistani and ADB officials.

“If it’s such a strategic project then it should be a viable project for them to finance on very concessional terms or invest in?” said one senior Pakistani official familiar with the project, referring to the BOT model.

China’s foreign ministry said Beijing was engaged in “friendly consultations” with Pakistan on the rail project.

Chinese companies participated in BRI projects in an open and transparent way, “pooling benefits and sharing risks,” it said.

Analysts say Pakistan will struggle to attract non-Chinese investors into the project, which may force it to choose between piling on Chinese debt or walking away from the project. In 2017, Pakistan turned down Chinese funding for a $14 billion mega-dam project in the Himalayas due to cost concerns and worries Beijing could end up owning a vital national asset if Pakistan could not repay loans, as occurred with a Sri Lankan port.

Khan’s government chafes at several Chinese intercity mass transport projects in Punjab, the voter heartland of the previous government, which now need hundreds of millions of dollars in subsidies every year.

They also fume about the risk of accumulating off-books sovereign debt through power contracts, where annual profits of above 20 percent, in dollar terms, were guaranteed by the previous administration.

With the ML-1 line, there are also those who harbor doubts closer to home, including the previous government’s finance minister, Miftah Ismail, who said his ministry had always had concerns about its viability.

“When people say it’s a project of national importance, that usually means it makes no sense financially,” he said.
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Nobel Prizes Still Struggle with Wide Gender Disparity

Nobel Prizes are the most prestigious awards on the planet but the aura of this year’s announcements has been dulled by questions over why so few women have entered the pantheon, particularly in the sciences.

The march of Nobel announcements begins Monday with the physiology/medicine prize.

Since the first prizes were awarded in 1901, 892 individuals have received one, but just 48 of them have been women. Thirty of those women won either the literature or peace prize, highlighting the wide gender gap in the laureates for physics, chemistry and physiology/medicine. In addition, only one woman has won for the economics prize, which is not technically a Nobel but is associated with the prizes.

Some of the disparity likely can be attributed to underlying structural reasons, such as the low representation of women in high-level science. The American Institute of Physics, for example, says in 2014, only 10 percent of full physics professorships were held by women.

But critics suggest that gender bias pervades the process of nominations, which come largely from tenured professors.

“The problem is the whole nomination process, you have these tenured professors who feel like they are untouchable. They can get away with everything from sexual harassment to micro-aggressions like assuming the woman in the room will take the notes, or be leaving soon to have babies,” said Anne-Marie Imafidon, the head of Stemettes, a British group that encourages girls and young women to pursue careers in science, technology, engineering and mathematics.

“It’s little wonder that these people aren’t putting women forward for nominations. We need to be better at telling the stories of the women in science who are doing good things and actually getting recognition,” she said.

Powerful men taking credit for the ideas and elbow grease of their female colleagues was turned on its head in 1903 when Pierre Curie made it clear he would not accept the physics prize unless his wife and fellow researcher Marie Curie was jointly honored. She was the first female winner of any Nobel prize, but only one other woman has won the physics prize since then.

More than 70 years later, Jocelyn Bell, a post-graduate student at Cambridge, was overlooked for the physics prize despite her crucial contribution to the discovery of pulsars. Her supervisor, Antony Hewish, took all of the Nobel credit.

Brian Keating, a physics professor at the University of California San Diego and author of the book “Losing the Nobel Prize: A Story of Cosmology, Ambition, and the Perils of Science’s Highest Honor,” says the Nobel Foundation should lift its restrictions on re-awarding for a breakthrough if an individual has been overlooked. He also says posthumous awards also should be considered and there should be no restriction on the number of individuals who can share a prize. Today the limit is three people for one prize.

“These measures would go a long way to addressing the injustice that so few of the brilliant women who have contributed so much to science through the years have been overlooked,” he said.

Keating fears that simply accepting the disparity as structural will seriously harm the prestige of all the Nobel prizes.

“I think with the Hollywood (hash)MeToo movement, it has already happened in the film prizes. It has happened with the literature prize. There is no fundamental law of nature that the Nobel science prizes will continue to be seen as the highest accolade,” he said.

This year’s absence of a Nobel Literature prize, which has been won by 14 women, puts an even sharper focus on the gender gap in science prizes.

The Swedish Academy, which awards the literature prize, said it would not pick a winner this year after sex abuse allegations and financial crimes scandals rocked the secretive panel, sharply dividing its 18 members, who are appointed for life. Seven members quit or distanced themselves from academy. Its permanent secretary, Anders Olsson, said the academy wanted “to commit time to recovering public confidence.”

The academy plans to award both the 2018 prize and the 2019 prize next year _ but even that is not guaranteed. The head of the Nobel Foundation, Lars Heikensten, was quoted Friday as warning that if the Swedish Academy does not resolve its tarnished image another group could be chosen to select the literature prize every year.

Stung by criticism about the diversity gap between former prize winners, the Nobel Foundation has asked that the science awarding panels for 2019 ask nominators to consider their own biases in the thousands of letters they send to solicit Nobel nominations.

“I am eager to see more nominations for women so they can be considered,” said Goran Hansson, secretary-general of the Royal Swedish Academy of Sciences and vice chairman of the Nobel Foundation. “We have written to nominators asking them to make sure they do not miss women or people of other ethnicities or nationalities in their nominations. We hope this will make a difference for 2019.”

It’s not the first time that Nobel officials have sought diversity. In his 1895 will, prize founder Alfred Nobel wrote: “It is my express wish that in the awarding of the prizes no consideration shall be given to national affiliations of any kind, so that the most worthy shall receive the prize, whether he be Scandinavian or not.”

Even so, the prizes remained overwhelmingly white and male for most of their existence.

For the first 70 years, the peace prize skewed heavily toward Western white men, with just two of the 59 prizes awarded to individuals or institutions based outside Europe or North America. Only three of the winners in that period were female.

The 1973 peace prize shared by North Vietnam’s Le Duc Tho and American Henry Kissinger widened the horizons _ since then more than half the Nobel Peace prizes have gone to African or Asian individuals or institutions.

Since 2000, six women have won the peace prize.

After the medicine prize on Monday, the Royal Swedish Academy of Sciences will announce the Nobel in physics on Tuesday and in chemistry on Wednesday, while the Nobel Peace Prize will be awarded Friday by the Norwegian Nobel Committee. On Oct. 8, Sweden’s Central Bank announces the winner of the economics prize, given in honor of Alfred Nobel.
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Low Turnout in Macedonia Name-Change Referendum

Few Macedonians turned out to vote in a referendum on whether to change the name of their country — a move that could pave the way for it to join NATO and the European Union.

According to election officials, only about a third of eligible voters cast ballots Sunday. But more than 90 percent of those voting cast a ballot in favor of changing the country’s name to North Macedonia.

Macedonia’s electoral commission said two days ago the referendum results would be declared invalid if less than 50 percent of the eligible voting population went to the polls

Nationalists, including Macedonian President Gjorge Ivanov, had urged a boycott of the vote.

Macedonians are being asked to change the name of their country to end a decades-old dispute with neighboring Greece and pave the way for the country’s admission into NATO and the European Union.

Athens has argued that the name “Macedonia” belongs exclusively to its northern province of Macedonia and using the name implies Skopje’s intentions to claim the Greek province.

Greece has for years pressured Skopje into renouncing the country’s name, forcing it to use the more formal moniker Former Yugoslav Republic of Macedonia in the United Nations. Greece has consistently blocked its smaller neighbor from gaining membership in NATO and the EU as long it retains its name.

President Ivanov said giving in to Athens’ demand would be a “flagrant violation of sovereignty.”

He steadfastly refused to back the deal reached between Macedonian Prime Minister Zoran Zaev and his Greek counterpart, Alexis Tsipras, that put the name change to a vote.

“This referendum could lead us to become a subordinate state, dependent on another country,” Ivanov said. “We will become a state in name only, not in substance.”
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Croatian Vintner Ages Wines in Amphoras on Adriatic Sea Floor

Traditional two-handled ceramic jars known as amphoras were used extensively in ancient Greece to store and transport a variety of products, especially wine. These days they are more likely to be found in shipwrecks than in stores. But wine-filled amphoras are once again being found on the sea floor, not from sunken ships, but deliberately placed there by a special Eastern European winery. Faith Lapidus explains.
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British PM to Unveil New Tax on Foreign Homebuyers

Prime Minister Theresa May will unveil plans Sunday to levy an extra fee on foreign buyers of homes in Britain, saying she wanted to stop it being as easy for those who do not live in the country to buy homes “as hard working British residents.”

May, struggling to unite her governing Conservatives behind her Brexit strategy, hopes to use her party’s annual conference in the English city of Birmingham this week to reset her agenda to tackle growing inequality in Britain.

Aware that the opposition Labour Party staged a successful conference last week and set out new policies targeting many of those who voted to leave the European Union, May will try to take the upper hand by launching a new social agenda.

“At Conservative conference last year, I said I would dedicate my premiership to restoring the British Dream, that life should be better for each new generation, and that means fixing our broken housing market,” she will say. “It cannot be right that it is as easy for individuals who don’t live in the UK, as well as foreign based companies, to buy homes as hard working British residents.”

She will say that a new surcharge will be levied on top of all other stamp duty, a tax paid on property purchases, including higher levels of stamp duty introduced in April 2016, on second home and buy-to-let purchases.

The government did not say when the new rates would be introduced but said it would consult on the stamp duty increase, which would be levied on individuals and companies not paying tax in Britain.
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Macedonians Vote on NATO, EU, Changing Country’s Name

Macedonians go to polls Sunday to vote on whether to change their country’s name to Republic of North Macedonia, urged by a pro-Western government to pave the way for NATO and EU membership by resolving a decades-old name dispute with Greece.

The referendum is one of the last hurdles for a deal reached between Macedonia and Greece in June to settle their quarrel, which has prevented Macedonia from joining major Western institutions since it broke away from then-Yugoslavia in 1991.

Greece, which has its own northern province called Macedonia, has always maintained that Macedonia’s name represented a claim on its territory. It vetoed Macedonia’s entrance into NATO and the EU, and forced it to enter the United Nations under a provisional name as the Former Yugoslav Republic of Macedonia or FYROM.

Macedonian Prime Minister Zoran Zaev argues that accepting a new name is a price worth paying for admission into the EU and NATO. But nationalist opponents say it would undermine the ethnic identity of the country’s Slavic majority population.

President Gjorge Ivanov has said he will boycott the referendum.

Polls for some 1.8 million voters will open at 7 a.m. and close at 7 p.m. The question on the referendum ballot is: “Are you for NATO and EU membership with acceptance of the agreement with Greece.”

The referendum is advisory and not legally binding, but enough members of parliament have said they will abide by its outcome to make it decisive. The name change requires a two-thirds majority in parliament.

For the referendum to be valid, at least 50 percent of voters must turn out to vote and a majority of them must back the change.

Polls have indicated that a large majority of those who vote are likely to back the change, but achieving the required turnout may be difficult. While more than 80 percent of Macedonians support NATO and EU membership, many may boycott the referendum because of disagreement with the name change.

“The Macedonian people have never been so embarrassed than now with this agreement (with Greece),” said Violeta Petkoska, a 39-year-old nurse. “On the day of the referendum they want us to dig our own grave, so that from the next day the Macedonian people do not exist.”

Zaev says NATO membership will bring much needed investment in the country with unemployment rate of more than 20 percent.

“Macedonia should move forward to become a European state. We have no alternative,” said Asim Shainovski, 35, a public administration worker.

U.S. Defense Secretary Jim Mattis has accused Russia of attempting to influence the outcome of the referendum, which the Kremlin has denied.

Macedonia avoided the violence that accompanied the breakup of Yugoslavia, but was later rocked by an ethnic Albanian insurgency that almost tore the country apart in 2001.

Western governments see NATO and European Union membership as the best way of preserving the peace and stability in the Balkans after a decade of wars with the break-up of Yugoslavia in the 1990s.
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Tesla, Musk Settle Fraud Suit for $40M

Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.

The settlement with the Securities and Exchange Commission allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years.

Tesla must hire an independent chairman to oversee the company, something that should please a number of shareholders who have criticized Tesla’s board for being too beholden to Musk. 

The deal was announced Saturday, just two days after SEC filed its case seeking to oust Musk as CEO.

‘Reckless tweet’

Musk, who has an estimated $20 billion fortune, and Tesla, a company that ended June with $2.2 billion in cash, each are paying $20 million to resolve the case, which stemmed from a tweet Musk sent Aug. 7 indicating he had the financing in place to take Tesla private at a price of $420 per share.

“A reckless tweet cost a lot of money — the $20-million tweet,” said Michelle Krebs, executive analyst at Autotrader.

The deal could remove one cloud that hangs over Tesla. Investors fretted about the company’s ability to cope without Musk, a charismatic entrepreneur whose penchant for coming up with revolutionary ideas has drawn comparisons to one of Silicon Valley’s most revered visionaries, Apple co-founder Steve Jobs.

Tesla’s stock plummeted 14 percent Friday after the SEC filed its lawsuit, erasing more than $7 billion in shareholder wealth. Many analysts predicted the shares were bound to fall even further if Musk had been forced to step down. Tesla’s stock has dropped 30 percent since Aug. 7, closing Friday at $264.77.

The steep downturn in Tesla’s market value may have influenced Musk to have an apparent change of heart and negotiate a settlement. Musk had rejected a similar settlement offer before the SEC sued Thursday, maintaining he had done nothing wrong when he posted a tweet declaring that he had secured the financing to lead a buyout of Tesla.

New board members

The SEC alleged Musk wasn’t close to locking up the estimated $25 billion to $50 billion needed to pull off the buyout.

Musk and Tesla reached their settlement without admitting to or denying the SEC’s allegations.

Besides paying a fine and stripping Musk of his chairman’s title, Tesla also must appoint two more directors who have no ties to the company or its management. Musk will be allowed to remain on the board.

The company also must clamp down on Musk’s communications with investors, a requirement that might make its colorful CEO’s Twitter posts slightly less interesting.

Erratic behavior

Besides tweeting about a deal that the SEC alleged he didn’t have money to pay for, Musk had been engaging in other erratic behavior that had been raising questions about whether he should remain CEO.

Musk had raised hackles by ridiculing stock market analysts for posing fairly standard questions about Tesla’s shaky finances, and calling a diver who helped rescue 12 boys on a Thai soccer team from a flooded cave a pedophile, triggering a defamation lawsuit. He was also recently caught on a widely circulated video apparently smoking marijuana , a legal drug in Tesla’s home state of California.

The erratic behavior has convinced more analysts that Tesla needs to find a replacement for Musk, but the SEC settlement will allow the company to do so on its own timetable, if it decides to hire a new leader.

Tesla is also under mounting pressure to overcome its past manufacturing problems and produce enough vehicles to become consistently profitable after years of huge losses. 
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Canada FM Postpones UN Speech as Trade Talks Intensify

Canadian Foreign Affairs Minister Chrystia Freeland postponed her U.N. speech Saturday as free-trade talks between the U.S. and Canada intensified.

Freeland had been scheduled to deliver Canada’s address to the General Assembly in New York, but Canada exchanged the slot with another country. Freeland may or may not give the speech on Monday.

A senior Canadian government official said they were making progress in the talks but that it wasn’t certain that they would reach a deal soon. The official, who spoke on condition of anonymity, said Canada would sign only a good deal.

Canada, the United States’ No. 2 trading partner, was left out when the U.S. and Mexico reached an agreement last month to revamp the North American Free Trade Agreement. The U.S. and Canada are under pressure to reach a deal by the end of the day Sunday, when the U.S. must make public the full text of the agreement with Mexico.

U.S. President Donald Trump has said he wants to go ahead with a revamped NAFTA, with or without Canada. It is unclear, however, whether Trump has authority from Congress to pursue a revamped NAFTA with only Mexico, and some lawmakers say they won’t go along with a deal that leaves out Canada. 

Dairy tariffs

Among other things, the negotiators are battling over Canada’s high dairy tariffs. Canada also wants to keep a NAFTA dispute-resolution process that the U.S. wants to jettison.

U.S.-Canada talks bogged down earlier this month, and most trade analysts expected the Sept. 30 deadline to come and go without Canada’s reinstatement. They suspected that Canada, which had said it wasn’t bound by U.S. deadlines, was delaying the talks until after provincial elections Monday in Quebec, where support for Canadian dairy tariffs runs high.

But trade attorney Daniel Ujczo of the Dickinson Wright law firm, who follows the NAFTA talks closely, said the United States put pressure on Canada, contending there would “consequences” if it didn’t reach an agreement by the end of the day Sunday. Trump has repeatedly threatened to start taxing Canadian auto imports. Ujczo put the odds of a deal this weekend at 75 percent. 

Relations between the two neighbors have been strained since Trump assailed Canadian Prime Minister Justin Trudeau at the Group of Seven meeting in June, calling him “weak” and “dishonest.” Canadian leaders have objected to Trump’s decision to impose tariffs on Canadian steel, citing national security.
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US Consumers Spend More; Inflation Flattens

U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month.

Economists said Friday’s report from the Commerce Department should allay fears of the economy overheating and likely keeps the U.S. central bank on a gradual path of interest rate increases. The Fed raised rates Wednesday for the third time this year and removed the reference to monetary policy remaining “accommodative.”

“Growth is solid and inflation pressures modest,” said Chris Rupkey, chief economist at MUFG in New York. “This is exactly the environment the Fed needs to move interest rates up at a gradual pace as further rate hikes start to look like tightening.”

Consumer spending

The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.3 percent last month after an unrevised 0.4 percent gain in July. Spending last month was driven by outlays on health care, which offset a drop in motor vehicle purchases.

August’s increase in consumer spending was in line with economists’ expectations. When adjusted for inflation, consumer spending rose 0.2 percent after climbing 0.3 percent in July.

The report came on the heels of data Thursday showing a decline in orders for key capital goods in August and a further widening of the goods trade deficit, which prompted economists to downgrade their gross domestic product growth estimates for the third quarter to as low as a 2.8 percent annualized rate.

Third-quarter GDP growth forecasts were previously as high as a 4.4 percent pace.

Economic growth

The economy grew at a 4.2 percent rate in the second quarter, powered by robust consumer spending. Economists said data in hand suggested that consumer spending was on track to grow around 3.6 percent in the third quarter, close to the 3.8 percent pace set in the April-June period.

Consumer spending is being driven by a tightening labor market, which is starting to boost wage growth, as well as higher savings. It is also being supported by robust consumer confidence.

A separate report Friday showed the University of Michigan’s consumer sentiment index at a six-month high in September. A survey earlier this week from the Conference Board showed consumer confidence hitting an 18-year high in September.

The Conference Board places more weight on the labor market.

The dollar was trading higher against a basket of currencies, while U.S. Treasury yields fell. Stocks on Wall Street were little changed in late afternoon trade.

Eyes on tariffs

In August, spending on goods increased 0.3 percent, likely lifted by higher gasoline prices. Spending on goods rose 0.5 percent in July. Outlays on services advanced 0.4 percent, with spending on health care accounting for much of the increase.

There was a moderation in monthly price gains in August. The personal consumption expenditures (PCE) price index excluding the volatile food and energy components was unchanged. That was the weakest reading since March 2017 and followed a 0.2 percent gain in July.

August’s flat reading left the year-on-year increase in the so-called core PCE price index at 2.0 percent. The core PCE index is the Fed’s preferred inflation measure. It hit the U.S. central bank’s 2 percent inflation target in March for the first time since April 2012.

Economists say inflation could slightly overshoot its target amid concerns an escalating trade war between the United States and China could lead to price increase for a range of consumer goods.

Washington on Monday slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60 billion worth of U.S. products. The United States and China had already imposed tariffs on $50 billion worth of each other’s goods.

Walmart Inc, the largest U.S. retailer, said last week it might hike prices because of the duties on Chinese imports.

“With this $200 billion increase, you are effectively tripling the amount of goods subject to a tariff and that has potential to influence prices,” said Tim Quinlan, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

JPMorgan estimates that the tariffs could add 0.2 to 0.3 percentage point to core inflation.

In August, personal income rose 0.3 percent after increasing by the same margin in July. Wages jumped 0.5 percent, the biggest gain in seven months, after rising 0.3 percent in July.

The saving rate was unchanged at 6.6 percent last month.
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Journalists Jailed in Record Numbers Worldwide

Journalists are being jailed in unprecedented numbers across the globe, with 262 detained for their work at the end of 2017, according to the Committee to Protect Journalists.

“The jailing of journalists is a brutal form of censorship that is having a profound impact on the flow of information around the world,” CPJ Executive Director Joel Simon told a press freedom event Friday at the United Nations.

At the end of 2017, the worst offenders were Turkey, with 73 journalists jailed; China with 41; and Egypt with 20.

CPJ says that slightly more than half of all imprisoned journalists were jailed for reporting on human rights violations.

 

WATCH: A Pakistani American Startup Fighting Media Censorship

Simon said the United Nations has not been a strong enough voice on the issue because it has a culture of rarely naming and shaming its member states.

The event, organized on the sidelines of the U.N. General Assembly annual meeting, highlighted the cases of five reporters CPJ says have been unjustly detained. They are nationals of Bangladesh, Kyrgyzstan, Egypt and Myanmar.

The two most high-profile cases are of Reuters reporters Wa Lone and Kyaw Soe Oo in Myanmar. The two men were detained in December 2017 while they were investigating the mass killing of Rohingya Muslim men and boys by Buddhist villagers in the Rakhine state village of Inn Din.

Myanmar’s military launched a crackdown on the minority Rohingya in August 2017 after Rohingya militants attacked several police checkpoints and killed a dozen Myanmar police officers. In a matter of a few months, 700,000 Rohingya fled to neighboring Bangladesh. Survivors gave accounts of horrific abuses, including widespread rapes, torture, and the looting and burning of their homes. The United Nations has deemed the atrocities a “textbook case” of ethnic cleansing. 

British barrister Amal Clooney is representing the two Reuters reporters. She says the Myanmar authorities did not want their story about the massacre at Inn Din to come out.

“So police planted government documents on the journalists while other officers lay in wait outside to arrest them,” Clooney said of how the two men were set up. “The journalists were arrested and were then prosecuted and subjected to a show trial in which their conviction was guaranteed.”

Earlier this month, the two were sentenced to seven years in prison for violating a law on state secrets. Clooney said they are seeking a presidential pardon in Myanmar for them, as it is the only avenue currently available to win their freedom.

“The attack on them is a chilling warning to other journalists worldwide,” said Reuters President Stephen Adler. “Myanmar is not the only country where attempts are made to deter investigative news gathering, scare sources and whistle-blowers, dim the spotlight of reporting, and thereby allow officials to act in darkness with impunity.”

Other arrests

Azimjon Askarov, a Kyrgyz journalist, has been serving a life sentence since July 2010. CPJ’s Simon says he was covering deadly ethnic clashes in southern Kyrgyzstan in the summer of 2010. During the trial, he and his lawyer were both assaulted.

“CPJ conducted its own investigation into the case in 2012 and found that charges against Askarov were in retaliation for his reporting on corrupt and abusive practices by regional police and prosecutors,” Simon said.

Bangladeshi photojournalist and commentator Shahidul Alam was arrested last month while covering student protests in Bangladesh. A Dhaka court ordered that he be held for seven days to determine if he violated an information law by spreading propaganda and false information.

“When Shahidul was brought into court, he screamed that had been tortured. He was unable to walk without assistance,” Simon told the panel. He remains in detention.

Since 2013, CPJ says, Egypt has been among the world’s worst jailers of journalists, often detaining reporters on politically motivated anti-state charges.

Alaa Abdelfattah, a well-known Egyptian blogger and activist who has written about politics and human rights, is one of them. He is serving a five-year sentence on charges that he organized a protest and assaulted a police officer.

“We believe the charges are trumped up and in retaliation for Alaa’s coverage of alleged human rights abuses by the police and security forces,” Simon said.

“We are witnessing a growing hatred of journalists worldwide, which unfortunately is not limited to authoritarian regimes,” said Margaux Ewen, North America director of Reporters Without Borders. “We are seeing democratically elected regimes also attack the press more and more frequently, which is why we need to continue to address wrongs as they occur.”

U.S. President Donald Trump refers to negative news coverage of him and his administration as “fake news,” and reporters at his rallies and during his campaign reported encountering hostility from his supporters.

Reporters in the United States are facing a more dangerous work environment. CPJ says at least three journalists have been arrested this year and 34 last year. In June, five people were killed in the newsroom of an Annapolis, Maryland, newspaper.

Journalists covering white nationalism and the far-right political movement have reported receiving threats, and at least 24 journalists have been assaulted, shoved or had their equipment damaged while working.

“A free press is not an adversary, but an essential component of democracy,” Ewen said.
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Finnish Unions Call for Oct. 3 Strike over Layoff Law

Four large Finnish unions called on Friday for tens of thousands of their members to go on strike on Oct. 3 to protest against what they called attacks on workers’ rights.

The unions said the strike was over government plans to make it easier for small companies to dismiss workers.

“The obstinacy of the right-wing government … has not left us with any choice,” the Industrial Union’s chair Riku Aalto said in a statement.

Service sector union PAM, professionals’ union Pro and the Finnish Electrical Workers’ Union also called the 24-hour strike.

Finnish food industry workers had already announced plans to strike on Oct 3. against the government plans.

The government led by the Center Party has said the changes will end up creating more jobs as they will make small companies more willing to hire.
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France Calls for New Global Coalition, With or Without US

France’s leaders are proposing a new international coalition to revive global cooperation that they say is being threatened by countries like the United States and Russia.

Foreign Affairs Minister Jean-Yves Le Drian announced the plan Friday while speaking at Harvard University, calling for an alliance of “goodwill powers” that believe in cooperation and share democratic values.

Any nation could join, but the minister says he hopes it would include countries like India, Australia and Japan, along with others in Europe. He says it would go on with or without the U.S.

His speech came days after U.S. President Donald Trump told the United Nations General Assembly that he rejects “the ideology of globalism.”

French President Emmanuel Macron countered with calls for greater cooperation and said “nationalism always leads to defeat.”
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Ousting Musk at Tesla Viewed as Difficult, Possibly Damaging

Tesla without Elon Musk at the wheel? To many of the electric car maker’s customers and investors, that would be unthinkable. But that’s what government securities regulators now want to see.

The Securities and Exchange Commission has asked a federal court to oust Musk as Tesla’s chairman and chief executive officer, alleging he committed securities fraud with false statements about plans to take the company private.

The agency says in a complaint filed Thursday that Musk falsely claimed in an Aug. 7 statement on Twitter that funding had been secured for Tesla Inc. to go private at $420 per share, a substantial premium over the stock price at the time.

The SEC is asking the U.S. District Court in Manhattan to bar Musk from serving as an officer or director of a public company. It also is asking for an order enjoining Musk from making false and misleading statements along with repayment of any gains as well as civil penalties.

Ousting Musk, who has a huge celebrity status with more than 22 million Twitter followers, would be difficult and could damage the company. He’s viewed by many shareholders as the leader and brains behind Tesla’s electric car and solar panel operations.

The stock market shuddered at the prospect. Shares slid more than 12 percent to $269.52 in Friday morning trading after a number of analysts either downgraded the stock or issued negative notes.

Citi analyst Itay Michaeli downgraded Tesla Inc. shares to Sell/High Risk from Neutral/High Risk, telling investors in a note that the SEC case raises the risk of Musk’s ouster.

“There’s little question that Mr. Musk’s departure would likely cause harm to Tesla’s brand, stakeholder confidence and fundraising — thereby increasing the risk of triggering a downward confidence spiral given the state of Tesla’s balance sheet,” Michaeli wrote.

​’Reputational harm’

He also told investors that Musk could stay on, but “the reputational harm from this might still prevent the stock from immediately returning to ‘normal.’ ” Michaeli set a $225 one-year price target for the stock.

Tesla shares have a $130 “Musk premium” due to future business driven by Musk as a disrupter of multiple industries, but that could go away if Musk is ousted, Barclays analyst Brian Johnson wrote in a note.

“Should the SEC be successful in barring Mr. Musk from serving as an officer or director, investors would focus back on the value of Tesla as a niche automaker,” wrote Johnson, who reiterated an “Underweight” rating and set a price target of $210.

CFRA analyst Garrett Nelson downgraded the stock from “hold” to “sell” and reduced his price target to $225. “Despite Musk’s recent erratic behavior, we think most investors want him to remain with the company and they value shares at what we view as extremely lofty multiples given the potential for Musk’s vision to drive future growth,” he wrote. “Given uncertainty about Musk’s role going forward, we think a lower valuation is justified.”

Musk, in a statement issued by Tesla, disputed the SEC’s claims. “I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way,” the statement said.

According to a person knowledgeable about talks between Tesla and federal securities regulators, Musk rejected a settlement that would have allowed him to pay a small fine and stay on as CEO of the electric car company if he agreed to certain conditions, including restrictions on when he could release information publicly.

The person, who asked not to be identified because the negotiations were private, said Friday that Musk rejected the offer because he didn’t want a blemish on his record.

The SEC complaint alleges that Musk’s tweet harmed investors who bought Tesla stock after the tweet but before accurate information about the funding was made public.

No license in ‘celebrity status’

“Corporate officers hold positions of trust in our markets and have important responsibilities to shareholders,” Steven Peikin, co-director of the SEC’s Enforcement Division, said in a statement. “An officer’s celebrity status or reputation as a technological innovator does not give license to take those responsibilities lightly.”

Peter Henning, a law professor at Wayne State University and a former SEC lawyer, said it’s the first fraud case involving use of social media by the CEO of a public company. Musk and Tesla didn’t fully disclose details of the plan in the Aug. 7 tweet or in later communications that day as required, he noted.

“You can’t make full disclosure in 280 characters,” he said, referring to the length limit of a tweet.

Joseph Grundfest, a professor at Stanford Law School and former SEC commissioner, said Musk will likely want to settle before trial so that he could conceivably stay on as CEO, with some constraints such as prohibiting him from making public statements without supervision. But Musk also could agree to step down as CEO and instead take another title, such as chief production officer.

Grundfest also said that the challenge for the SEC is to “appropriately discipline Musk while not harming Tesla’s shareholders.”

According to the complaint, Musk met with representatives of a sovereign investment fund for 30 to 45 minutes on July 31 at Tesla’s Fremont, Calif., factory. Tesla has identified the fund as Saudi Arabia’s Public Investment Fund, which owns almost 5 percent of the company.

Fund representatives expressed interest in taking Tesla private and asked about building a factory in the Middle East, Musk told the SEC. But at the meeting, there was no discussion of a dollar amount or ownership stake for the fund, nor was there discussion of a premium to be paid to Tesla shareholders, the complaint said. Musk told the SEC that the lead representative of the fund told him he would be fine with reasonable terms for a go-private deal.

No specific terms

“Musk acknowledged that no specific deal terms had been established at the meeting and there was no discussion of what would or would not be considered reasonable. Nothing was exchanged in writing,” the complaint stated.

The SEC alleged in the 23-page complaint that Musk made the statements using his mobile phone in the middle of a trading day. That day, Tesla shares closed up 11 percent from the previous day.

The statements, the complaint said, “were premised on a long series of baseless assumptions and were contrary to facts that Musk knew.” Later in the month, Tesla announced that the go-private plan had been scrapped.

In its complaint, the SEC said that Musk’s statements hurt short sellers, who are investors who borrow a company’s stock betting that it will fall. Then they buy the shares back at a lower price and return them to the lenders, pocketing the profit.

In August, more than $13 billion worth of Tesla shares were being “shorted” by investors, the complaint said, as the stock was under pressure due to questions about Tesla’s finances and Musk’s erratic behavior.

Mark Spiegel, a short-seller and constant Musk critic, applauded the SEC for pursuing what he predicted would be easy for the government to prove.

Tesla’s board said in a statement Thursday night that it is “fully confident in Elon, his integrity, and his leadership of the company.” 
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ЄС, Новини, Світ

Professional Queuers Left Out in the Cold at Moscow iPhone Launch

Hundreds of Russians braved the cold and rain to queue for days outside a Moscow phone store ahead of the release of the new Apple iPhones on Friday, but when the doors opened none stepped in to buy.

Instead, they tried in vain to sell their queue places to genuine Apple enthusiasts outside the first Russian store to sell the new iPhones XS and XS Max in central Moscow.

Banking on strong enthusiasm for the phones, which have drawn days-long queues outside stores in Singapore, Sydney and elsewhere, the queue sellers set the price of the first place at 450,000 rubles ($7,000).

Reductions were offered for places further down the line, but in the end all went unsold as shoppers were happy to wait for the chance to buy the 87,000 ruble ($1,300) iPhone XS or 96,000 ruble ($1,500) XS Max.

The store manager called out ticket numbers to invite in the first buyers, but his calls went unanswered.

Eventually, ticket holder number 247 came to the door and Russian photographer Anatoly Doroshchenko, who had arrived that morning and didn’t pay for the right to queue-jump, became the first purchaser in Russia of one of the new phones.

For the group of queue jump sellers, some of whom ripped up their tickets and adverts selling their places, the exercise wasn’t a complete waste of time.

 
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ЄС, Новини, Світ

Pope Defrocks Chile Priest at Center of Global Abuse Scandal

Pope Francis has defrocked the Chilean priest at the center of the global sex abuse scandal rocking his papacy, invoking his “supreme” authority to stiffen a sentence originally handed down by the Vatican in 2011.

In a statement Friday, the Vatican said Francis had laicized the 88-year-old Rev. Fernando Karadima, who was originally sanctioned to a lifetime of “penance and prayer” for having sexually abused minors.

 

The “penance and prayer” sanction has been the Vatican’s punishment of choice for elderly priests convicted of raping and molesting children. It has long been criticized by victims as too soft and essentially an all-expenses-paid retirement.

 

The Vatican didn’t say what new evidence, if any, prompted Francis to re-evaluate Karadima’s original sanction and impose what clergy consider the equivalent of a death sentence.

 
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ЄС, Новини, Світ

Third Russian Possibly Involved in Salisbury Poisoning

British investigators now say a third Russian military intelligence officer was involved in the poisoning in March this year of former spy Sergei Skripal and his daughter Yulia in the southern English cathedral town of Salisbury.

Officials say the officer, who they suspect of carrying out reconnaissance for the nerve agent attack, has been identified by the British security services. At this stage, they say, they are not releasing his name – neither the alias he might have used nor his real identity.

The disclosure comes as Kremlin officials downplayed the unmasking earlier this week of one of the suspects in the attack as a decorated colonel in the GRU, the Russian military intelligence service.

Col. Anatoliy Chepiga, a GRU veteran who is believed to have served in an elite special forces unit in Afghanistan as well as in Chechnya and Ukraine, received Russia’s top military honor, Hero of the Russian Federation, in 2014. It may have been bestowed on him personally by Russian President Vladimir Putin, say security analysts.

Chepiga was seen laughing on CCTV footage released earlier this year by the British authorities as he and a colleague, who used the alias Alexander Petrov, sauntered along a Salisbury street March 4 soon after the poisoning of Skripal, a former Russian agent who defected to Britain.

The two men have claimed they are sport nutritionists and in an interview, ridiculed by the British media and government, with the Kremlin-directed RT network, insisted they had gone to Salisbury, twice, to see the cathedral’s spire and ancient clock. Their first day trip was a failure because of slush and snow, they said, although according to weather data there was no snow in the cathedral town on March 3.

The investigative journalism consortium Bellingcat, along with the news-site The Insider, say they have identified the decorated veteran, who used the alias Ruslan Boshirov, by trawling through open-source records of the graduates of Russian military academies and then matching his photograph. Leaked data of Chepiga’s real passport provided final proof.

‘Fake news’

The Russian Foreign Ministry says the Bellingcat identification is “fake news.”

And Kremlin spokesman Dmitry Peskov told reporters Thursday: “Like you, we are just learning of this investigation in the media released that talks about certain people resembling certain other people.” Other Kremlin officials say many people resemble each other.

Chepiga’s apparent identification as one of the likely culprits of the assassination attempt using the rare toxin Novichok leaves in tatters the Kremlin claim that it had no involvement in the attack, say British officials. His seniority in the GRU, they argue, suggests the attack was sanctioned from the top of the Kremlin.

Bellingcat says aside from its own open-source probe, “multiple sources familiar with the person and/or the investigation have confirmed the suspect’s identity.” British officials say they have no dispute with the identification. But they are not officially confirming it and have not said in detail why, arguing they are unable to for security reasons.

Locals in Chepiga’s home village, Berezovka, 640 kilometers east of Moscow in the Amur region, interviewed by the Russian newspaper Kommersant, confirm the identification and say they knew it was him even before the Bellingcat investigation. They say they recognized him from the CCTV footage British authorities released. Kommersant says the locals spoke on the condition of anonymity, fearing retribution.

“Yeah, that’s Tolya,” one woman told the newspaper, using Chepiga’s nickname. She says he was a disciplined youth. “He didn’t drink, didn’t smoke, and never got involved with any bad crowd,” she said.

Security analysts say it is possible that Chepiga and Skripal, a former GRU officer, knew each other. If so, it would add a personal element to the nerve agent attack. Skripal also served in Afghanistan, although not in a special forces unit but with Soviet Airborne Troops and many years earlier.

Skripal and his daughter survived the March nerve-agent attack, but a local woman not connected to the original attack died in July after being exposed to the same toxin, which was contained in a discarded perfume bottle dumped in a trash bin.  

Skripal was a double agent for British intelligence in the 1990s. In December 2004, he was arrested by Russian authorities, tried, convicted of high treason and sentenced to 13 years in prison. He was included in a 2010 spy swap and settled in Salisbury.

Britain, the United States and most European Union countries responded to the Salisbury attack with expulsions of Russian diplomats and financial sanctions on Russia. The Kremlin denies any involvement in the attack and has maintained variously that the poisoning never happened, that it was carried out by Britain in order to blame Russia or that unknown third parties were responsible.

 
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Бізнес, Новини, Фінанси

Italian Stocks Fall on Populist Government’s Spending Plans

Italy’s stock market fell sharply Friday after the new populist, euroskeptic government announced a sharp public spending increase that will push the budget deficit to 2.4 percent of gross domestic product next year, risking a collision with the European Union.

The benchmark FTSE MIB dropped 2.2 percent early Friday, hours after the government announced its first financial targets since taking office three months ago. 

Italy’s government partners, the 5-Star movement and the League, pressed for money to fulfill campaign pledges, namely a basic citizen’s income for job seekers and a flat tax. Finance Minister Giovanni Tria, who is politically unaligned, had wanted to keep the budget deficit capped at no more than 2 percent.

The leader of the 5-Star Movement, Luigi Di Maio, called the document approved early Friday by the Cabinet “a maneuver of the people.”

“The historic measures are a victory,” Di Maio said. “It is not the government that wins, but citizens. It is a maneuver that allows us to relaunch investments and growth.”

The 2019 deficit target is a significant jump from the 2018 target of 1.6 percent, set by the former center-left government, but still remains within the 3-percent ceiling set by the EU. The European Union has been pressing Italy to address its deficit in a bid to reduce the country’s debt, the second largest in the EU after Greece. 

The spending targets contained in the document calls for spending of 27 billion euros, including blocking an increase in value-added tax, launching the 5-Star Movement’s basic income scheme, undoing pension reforms and introducing a flat tax.

 

To pay for the new spending, the government has pledged a tax amnesty, a spending review and possible changes to tax breaks.

 

The government must submit a draft budget to the EU by Oct. 15.
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Бізнес, Новини, Фінанси

Puerto Rico Struggling, Still Open for Tourists, Governor Says

Puerto Rico Gov. Ricardo Rossello flew to New York this week on a mission: convince potential tourists that the hurricane-ravaged island was ready for their return.

But Puerto Rico’s recovery from last year’s Hurricane Maria has been a “mixed bag,” Rossello told Reuters on Thursday, acknowledging that the bankrupt U.S. territory, while improving, was far from out of the woods.

Puerto Rico has received only a small fraction of the federal funding it needs to get back on its feet, Rossello said in a 75-minute interview, and getting access to the rest could take more than a decade.

$4 billion or less

His administration estimates that fixing Puerto Rico fully will require $139 billion, but the federal government has earmarked only about $60 billion to $65 billion for the recovery, he said. Of that, only about $3 billion to $4 billion has actually flowed into the island’s coffers. 

Obtaining the remainder could take 10 to 11 years, he said, adding that his team was lobbying Congress for more money.

Compounding the problem is Puerto Rico’s bankruptcy in U.S. federal court, where it is trying to restructure $120 billion of debt and pension obligations. There are also ongoing spending disputes between the government and a federally appointed fiscal oversight board.

In the year since Hurricane Maria, Rossello has at times been diplomatic regarding the federal government’s response, while at other times — especially lately — he’s been more critical. He has also been criticized for sticking with an estimated death toll of 64 early on, when  strong evidence suggested it could be higher. A government-commissioned study by researchers at George Washington University eventually pegged the toll at around 3,000.

When asked whether his administration’s messaging strategies have been tied to an effort to maintain good relations with President Donald Trump, Rossello said a “critical part” of the island’s recovery “is making sure the federal  government responds to our petitions.”

“So ,yes, I have opted for a path that involves dialog, that involves collaboration,” Rossello said, adding that he has not been afraid to be critical.

If Trump does not sign the island’s request to extend the federal  government’s 100 percent coverage of repair costs, “I’ll be the first one to fight it,” Rossello said, “and I’ll be the first to point out that action, or lack of action, is one of the main obstacles to our recovery.”

Rossello said Puerto Rico still has as many as 60,000 homes with temporary tarp roofs. It also has hundreds of thousands of informally constructed homes with many owners lacking title to their property.

Rebuilding will require that the current ranks of about 45,000 construction workers to grow to 130,000, according to Rossello, who recently signed an executive order increasing the minimum hourly construction wage to $15 despite opposition from the oversight board and the private sector.

Power shift

The island’s government is still considering initiatives that could make the its troubled electricity grid more resilient, Rossello said. Ultimately, the island hopes to generate 40 percent of its electricity from renewables and steer away from fossil fuels. The shift would require a new regulatory policy, approval by the bondholders, and, potentially, investment from outside companies or organizations.

“We have received 10 to 12 unsolicited proposals for generation,” he said, while acknowledging the government has yet to find a private operator for the power utility’s transmission and distribution operations.

But changes at the electric agency known as PREPA, which Rossello called one of the most troubled organizations in modern history, will be gradual. The governor said he was working with a search firm to identify outside board members for the utility, after nearly the entire board quit in an uproar over appointment of a new chief executive.

Limited electricity was a major problem for the island’s small-business sector, according to a Federal Reserve Bank of New York report on Thursday. A survey of more than 400 businesses with fewer than 500 employees found 77 percent suffered losses as a result of Hurricanes Irma and Maria.

Broader effort

Meanwhile, Rossello is trying not only to restore tourism, but to expand it in such a way that it incorporates hundreds of square miles of seaside and mountain communities that are largely unvisited. Puerto Rico’s tourism is small compared with that of other Caribbean locales and tends to be centered in San Juan.

The island’s visitor lodgings hit a 2017 high of 204,025 in July, but fell to just under 30,000 in October following the hurricanes, according to Puerto Rico Tourism Company data.

Persuading tourists to leave the capital, though, will require easier travel. “Puerto Rico should be a multiport destination,” he said, discussing plans to beef up airport capacity in the south and west of the island.

He emphasized the possibility of capitalizing on Puerto Rico’s near-constant spate of community festivals. “We have flower festivals, orange festivals, plantain festivals, coffee festivals, music festivals,” he said.

Rossello pointed to so-called chinchorreos as a possible draw, events in which Puerto Rican foodies move from one inexpensive eatery to the next.

“A bar crawl for food — that’s the best way to put it,” the governor said, “and the island is small, so you start in one place and you’re on a beachfront, and 15 minutes later you’re in the mountains.”
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Бізнес, Новини, Фінанси

US Regulators Sue Tesla’s Musk for Fraud, Seek to Bar Him as Officer

U.S. securities regulators on Thursday accused Tesla Inc. Chief Executive Elon Musk of fraud and sought to ban him as an officer of a public company, saying he made a series of “false and misleading” tweets about potentially taking the electric car company private last month.

Musk, 47, is one of the highest-profile tech executives to be accused of fraud by the Securities and Exchange Commission.

Losing its public face and guiding force would be a big blow for money-losing Tesla, which has a market value of more than $50 billion, chiefly because of investors’ belief in Musk’s leadership.

Tesla shares tumbled 12 percent in after-hours trading. Company officials were not immediately available for comment.

The SEC’s lawsuit, filed in Manhattan federal court, came less than two months after Musk told his more than 22 million Twitter followers on Aug. 7 that he might take Tesla private at $420 per share, and that there was “funding secured.”

“Neither celebrity status nor reputation as a technological innovator provides an exemption from federal securities laws,” Stephanie Avakian, co-director of enforcement at the SEC, told a news conference announcing its charges against Musk.

Musk has long used Twitter to criticize short-sellers betting against his company, and already faced several investor lawsuits over the Aug. 7 tweets, which caused Tesla’s share price to gyrate.

According to the SEC, Musk “knew or was reckless in not knowing” that his tweets about taking Tesla private at $420 a share were false and misleading, given that he had never discussed such a transaction with any funding source.

The SEC said he also knew he had not satisfied other contingencies when he declared unequivocally that only a shareholder vote would be needed.

Thursday’s complaint also seeks to impose a civil fine and other remedies. The SEC does not have criminal enforcement power.

On Aug. 24, after news of the SEC probe had become known, Musk blogged that Tesla would remain public, citing investor resistance.
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ЄС, Новини, Світ

Macedonia’s President Calls Name Change ‘Historical Suicide’ 

President Gjorge Ivanov on Thursday urged Macedonians to boycott a referendum on changing the country’s name, saying making such a change would amount to “historical suicide.”

“On September 30, I will not go out and vote, and I know that you, my fellow citizens, will make a similarly wise decision,” Ivanov said in a speech to the U.N. General Assembly.

Macedonians are being asked to change the name of their country to North Macedonia to end a decades-old dispute with neighboring Greece and pave the way for the country’s admission into NATO and the European Union.

Athens has argued that the name belongs exclusively to its northern province of Macedonia and that using the name implies Skopje’s intention to claim the Greek province.

Greece has for years pressured Skopje into renouncing the country’s name, forcing it to use the more formal moniker Former Yugoslav Republic of Macedonia in the United Nations.

It has also consistently blocked its smaller neighbor from gaining membership in NATO and the EU as long as it retains its name. 

Ivanov said giving into Athens’ demand would be a “flagrant violation of sovereignty.” He has steadfastly refused to back a deal reached between Macedonian Prime Minister Zoran Zaev and his Greek counterpart, Alexis Tsipras, that put the name change to a vote.

“This referendum could lead us to become a subordinate state, dependent on another country,” Ivanov said. “We will become a state in name only, not in substance.”
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