7.1 C
Brussels
Tuesday, November 5, 2024
Home Blog Page 1390

Ivory Coast president declared winner in contested election – Vatican News

0
Ivory Coast president declared winner in contested election - Vatican News

Vatican News staff writer

The Ivory Coast electoral commission announced Tuesday morning that Alassane Ouattara has won re-election to a third term as president of the west African nation.

Opposition groups immediately rejected the results, citing Ivory Coast’s constitution which sets a two-term limit on the presidency. The incumbent argued, however, that the approval of a new constitution in 2016 allowed him to restart his mandate.

According to the results announced Tuesday, Ouattara won with over 94% of the vote, with a turnout of 53.90% of voters. Leaders of opposition groups, which had called for a boycott of the election, said turnout was closer to 10%. They said they did not recognize an Ouattara victory, and would instead form a transitional council that would work on organising “a fair, transparent, and inclusive presidential election.”

International election observers had already noted on Monday that “a significant portion of the population did not vote,” compared to previous elections. A statement released by the observer mission carried out by The Carter Center and Electoral Institute for Sustainable Democracy in Africa added, “these problems threaten public acceptance of the results and the country’s cohesion.”

Disputes over the election and Ouattara’s candidacy led to violence prior to Saturday’s election, with at least 30 people killed. Violence also broke out on election day itself, with reports of five deaths.

Recent elections in Ivory Coast have led to widespread unrest, with a brief civil war following the election in 2010 that left more than 3000 people dead.

The streets of the capital, Abidjan, remained calm in the early morning hours after the results were announced but it was unknown whether that would hold.

The opposition on Monday night said that its call for civil disobedience was still in effect and told its supporters “to remain mobilized until the final victory.” The U.N. refugee agency reported that as of Tuesday more than 3,200 Ivorians had fled to Liberia, Ghana and Togo fearing post-electoral violence.

Fish Scupper: EU and EU fail to bridge gaps on fisheries

0
Fish Scupper: EU and EU fail to bridge gaps on fisheries

The UK and European Union have so far failed to reach agreements on the three most contentious issues in their ongoing trade talks, both sides said.

The pair have not been able to reach agreements on fisheries, the so-called level playing field, and settling future disputes between Britain and the EU.

Read more: CBI deputy: A no-deal Brexit on top of coronavirus is ‘very, very worrying’

The impasse comes despite almost two weeks of intensive talks in a last-ditch attempt to strike a deal for when Britain’s transition agreement with the bloc comes to an end on 31 December.

Any deal to smooth billions of pounds of trade between the pair needs to be agreed by 15 November to give it time to be ratified by the EU before the transition period expires.

An update on the talks’ progress and the chances of a deal being struck is expected tomorrow or Thursday. Chief EU negotiator Michel Barnier said last week that “much remains to be done” before an agreement is reached. 

Before the Open newsletter: Start your day with the City View podcast and key market data

A European Commission spokesperson said negotiators have not yet found a deal on sharing access to fishing waters after the post-Brexit transition period ends in December. 

“We have not yet found a solution on fisheries,” a Commission spokesperson said. They said “a lot more work remains to be done to get a deal”, adding: “we are not there yet”. 

A spokesman for Prime Minister Boris Johnson said: “We’ll only be able to make progress if the EU accepts the reality that the UK will have the right to control access to its waters at the end of this year.”

“There are significant gaps that do remain between our positions in the most difficult areas, and there is much work still to be done if we are to bridge those gaps.”

The Commission also said it would consider escalating its legal dispute with the UK over its violation of the Brexit withdrawal treaty. 

Read more: Brexit talks: Germany ‘concerned’ over lack of progress given reliance on City

The bloc sent London a formal letter of notice at the start of last month over the UK’s internal market bill – which Britain has admitted breached international law by breaching its earlier Brexit divorce settlement with the bloc.

The Commission spokesperson said that Britain had failed to reply and that the EU would therefore now consider the next step in the legal dispute – a reasoned opinion.

Indonesian Bishops call for dialogue in restive West Papua – Vatican News

0
Indonesian Bishops call for dialogue in restive West Papua - Vatican News

By Devin Watkins

Representatives of the Catholic Church in Indonesia, in particular from the West Papua province, have held talks with the country’s Coordinating Minister for Political, Legal, and Security Affairs.

The meeting was held on Sunday at Mr. Mahfud MD’s residence, and were aimed at discussing the various problems afflicting the restive province.

Present were Bishop Aloysius Murwito of Agats and Bishop Petrus Canisius Mandagi of Amboina, who is also the Apostolic Administrator of Merauke, along with Cardinal Ignatius Suharyo Hardjoatmodjo, President of Indonesia’s Conference of Catholic Bishops.

The encounter came after reports emerged that the Indonesian National Army had shot dead a Catholic catechist on 26 October. He was suspected of belonging to a separatist movement. 

The murder took place in Jalae Village, Sugapa District, in West Papua’s Intan Jaya Regency.

Harmful effects

Bishop Mandagi told UCA News that the hour-long meeting was meant to address “various problems in Papua, especially violence.” 

Indonesia’s Bishops, he added, are concerned about the situation, though he said no specific cases were discussed. 

Rather, talks focused on the suffering wrought by violence, both on local civilians as well as on security forces.

Dialogue, not violence

Bishop Mandagi said he told Mr. Mahfud that expanded dialogue with the people of Papua could help ease tensions. The local Catholic Church, he added, was always open to discussions.

“Papuans are good people,” he said. “Everyone including military, police, and church workers who come to Papua must not look down on them. We all need to settle Papua’s problems with dialogue, by respecting Papuans and without violence.”

The Bishop said military interventions only serve to exacerbate tensions.

Long-running unrest

A separatist movement has simmered in Indonesia’s West Papua and Papua provinces since the late 1960s, when the region became part of Indonesia.

Papuans complain of human rights abuses and discrimination from government authorities.

Following the meeting with Church leaders, Mr. Mahfud said the government would engage in further dialogue with Bishops in West Papua and Papua, as well as with other religious leaders.

Bishop Mandagi expressed his hopes for the cessation of violence.

“We want Papua to become a land of love, not a war zone,” he said.

Seven nominations for Miriam Dalli’s seat in the European Parliament

0
Seven nominations for Miriam Dalli's seat in the European Parliament

Seven nominations have been presented for Thursday’s casual election to fill the seat vacated by Miriam Dalli in the European Parliament

The Electoral Commission said the election is being contested by Felix Busuttil, Josef Caruana, Cyrus Engerer, Mary Gauci, James Grech, Robert Micallef and Lorna Vassallo.

Miriam Dalli resigned her seat in the EP to take up that vacated by former Prime Minister Joseph Muscat in the national parliament.

Cyrus Engerer is in lead position to take the seat, as he was fifth in line after the Labour party’s four MEPs.

Independent journalism costs money. Support Times of Malta for the price of a coffee.

Support Us

US votes in Presidential Election – Vatican News

0

By Lydia O’Kane

It’s decision day in the United States. Following a divisive US election campaign, Americans are going to the polls Tuesday to choose their next President.

Both Republican Donald Trump and Democratic candidate Joe Biden spent the last day before this ballot continuing to woo voters.

Trump did a whistle-stop tour of four states on Monday, while Presidential hopeful Joe Biden spent his last full day of campaigning in Ohio and Pennsylvania, telling voters that he was the man for the job.

Speaking to Americans late on Monday night in Grand Rapids, Michigan, Trump warned that his rival would move US jobs abroad. Biden, meanwhile, addressing supporters in Pittsburgh, said, “We’re done with the chaos, we’re done with the tweets, the anger, the hate, the failure, the irresponsibility.”

Communicating a message

Both men have rallied supporters, taken part in televised debates, and used social media to get their message across.

Fr Mike Russo is an Emmy Award-winning producer and former professor of Communications Studies at Saint Mary’s College of California. Speaking to Vatican Radio, he said the current president has used social media to his advantage and maybe “we’re not used to that kind of Chief Executive.”

Fr Russo added that even if Donald Trump ends up being a one-term president, “I think there will be copy cats following him afterwards, able to get into high office and continue that kind of day-to-day social media, I would call it combat, where everyone is susceptible to being brought down by a Tweet.”

Listen to the interview

Challenging times

This has been a campaign dominated by a number of key issues. Topping that list is the COVID-19 pandemic that has killed more than 231,000 people in the United States and left millions unemployed. The country has also been rocked by protests over racial injustice against Black Americans and other minorities.

Noting that the US at present is facing challenging times, Fr Russo said moral leadership is something we need at all times.

“What is the role of a United States President?” he asked. “I’d particularly argue that there is this idea about bringing about cohesion … just as preaching is a leadership skill, so too is the role of the President of the United States … it’s a complicated role.”

In anticipation of possible protests several cities, such as New York and Washington, have begun boarding up buildings.

Votes and electoral college

Voters have already cast their ballots early in record-breaking numbers in this election –  more than 99 million, in fact, either in person or by mail.

Both candidates have focused their attention on twelve key states, nearly all states that President Trump won in 2016. They include Pennsylvania, Michigan and Wisconsin.

Polls also predict tight races in Florida, North Carolina and Arizona.

In order to win the White House, 270 electoral votes are required. Joe Biden has held a steady lead in the popular vote in national polls. But Donald Trump is close in enough swing states to possibly amass the 270 state-by-state Electoral College votes needed to hold on to the presidency.

Buddhist Times News – First Buddhist Chaitya, more stupas excavated in Gujarat’s Vadnagar

0

First Buddhist Chaitya, more stupas excavated in Gujarat’s Vadnagar

                            <p class="post-meta">
                               <span class="date"><i class="icon-calendar"/> Nov 03, 2020</span>
                               <span class="meta-user"><i class="icon-user"/> <a href="https://web.archive.org/web/20210613083800/https://www.buddhisttimes.news/author/shyamal/" title="Posts by Shyamal Sinha" rel="nofollow">Shyamal Sinha</a></span>
                               <span class="meta-cat"><i class="icon-book"/> <a href="https://www.buddhisttimes.news/category/breakingnews/" rel="category tag" rel="nofollow">BREAKING NEWS</a>, <a href="https://www.buddhisttimes.news/category/topnews/" rel="category tag" rel="nofollow">TOP NEWS</a></span>
                                 <span class="meta-comment last-meta"><span>Comments Off<span class="screen-reader-text"> on First Buddhist Chaitya, more stupas excavated in Gujarat’s Vadnagar</span></span></span>
                                 </p>
                           <hr class="none"/>
By  —  Shyamal Sinha

The Covid lockdown interval has yielded a serious treasure for the Archaeological Survey of India (ASI) crew working at Vadnagar, the hometown of PM Narendra Modi. This features a pretty well-preserved construction believed to be a Chaitya, a shrine with a prayer corridor, and two stupas in the neighborhood.

The word caitya appears in the Vedic literature of Hinduism. In early Buddhist and Hindu literature, a caitya is any ‘piled up monument’ or ‘sacred tree’ under which to meet or meditate.
The historic marvels have been dug up from close to the grain godown in Vadnagar and date again to the 2nd to seventh Century. This time interval coincides with Chinese traveller-monk Hiuen Tsang’s go to to the traditional city in the seventh Century.
A crew of ASI’s Excavation Branch V has been stationed in the traditional city since 2015 to hold out cultural sequencing of the PM’s hometown. Work in season 2019-20 was primarily targeted on two spots – Amba Ghat on the banks of Sharmishtha Lake, and the neighborhood of grain godown close to the railway line.
“The main structure, possibly a Chaitya, was excavated from the site spread over a 50X20 metre area. It is an apsidal (semi-circular) structure. The structure is being closely studied but is believed to be a Buddhist Chaitya because of it’s unique design,” mentioned sources near the event. “The Chaitya structure dates back to 2nd-3rd Century CE. It also shows signs of repairs around 5th Century CE onwards.”
‘Built chaityas rarer than rock-cut ones’
chaitya, chaitya hall, chaitya-griha, or caitya refers to a shrine, sanctuary, temple or prayer hall in Indian religions. The term is most common in Buddhism, where it refers to a space with a stupa and a rounded apse at the end opposite the entrance, and a high roof with a rounded profile.Strictly speaking, the chaitya is the stupa itself, and the Indian buildings are chaitya halls, but this distinction is often not observed. Outside India, the term is used by Buddhists for local styles of small stupa-like monuments in NepalCambodiaIndonesia and elsewhere.

The chaitya and stupa are situated away from the traditional boundary of the city with a water physique in the neighborhood. These traits are sometimes discovered in historic Buddhist websites. We have all causes to consider this to be a website that will have been one of many 10 websites noticed by Hiuen Tsang,” mentioned an professional.
Archaeology specialists mentioned that discovering a constructed chaitya is much less frequent than a rock-cut one. Devni Mori, one other landmark Buddhist website in Gujarat, had an apsidal construction, they added.
A round stupa measuring 3mx1.5m was discovered from the identical construction, which specialists affiliate with the sooner part of the chaitya. Another memorial stupa — a 2mx2m sq. — has been discovered from the identical website. “It’s identified as a memorial stupa as we have also found a space to keep the revered relics. This structure dates to 5th-7th century CE,” mentioned an professional related to the venture.
Experts related to the venture say the recent discoveries additional cements Vadnagar’s stake as an necessary Buddhist centre in the previous millennium. In the previous decade, a Buddhist construction, believed to be a nunnery, was unearthed by the state archaeology division. Later excavations by ASI have thrown up a superstructure on the banks of Sharmishtha Lake, 23 chambers believed to be a monastery, and a big cache of Buddhist artefacts.

Apparently the last rock-cut chaitya hall to be constructed was Cave 10 at Ellora, in the first half of the 7th century. By this time the role of the chaitya hall was being replaced by the vihara, which had now developed shrine rooms with Buddha images (easily added to older examples), and largely taken over their function for assemblies.

                            <hr class="none"/>

Oxford Road Fortifies Executive Team – Appoints Steven Abraham as President, Brings on Kraig Kitchin and Jennifer Laine

0
By partnering with these three individuals of stunning reputation and talent, our company has never been positioned to reach even greater heights.””

— Oxford Road Founder and CEO, Dan Granger

LOS ANGELES, CALIFORNIA, UNITED STATES, November 3, 2020 /EINPresswire.com/ — Oxford Road, a leading agency in audio and spoken word media, today announced three key additions to its executive team, as the company enters a new phase of growth and charts an expanded course of industry innovation and new initiatives. Widely respected global agency veteran Steven Abraham joins Oxford Road as its new President. Audio industry veteran and pioneer Kraig Kitchin joins as Strategic Advisor. Jennifer Laine, former fashion industry leader, president of an experiential learning company, and Oxford Road ally, formally joins the company to lead Marketing and key strategic initiatives.

“I’ve always subscribed to David Ogilvy’s notion that by hiring people bigger than we are, we shall become a company of giants. By partnering with these three individuals of stunning reputation and talent, our company has never been positioned to reach even greater heights.” said Oxford Road Founder and CEO, Dan Granger. “Oxford Road launched in 2013 and quickly became one of the fastest-growing companies in America. In the last few years, we have focused on building a world class infrastructure and deepening our competitive advantage. We are now poised to win our category by enabling our clients to win theirs.”

The appointments come at a time of notable expansion for the agency — with 50 active clients in 2020 achieving accelerated growth across thousands of media properties, it was time to call in the Big Guns. Granger continued, “As many companies slowed down this year, we made a conscious decision to speed up. These hires will allow us to stay Mission Focused and provide the expertise to provide a world class offering to our clients. Steven has been a rising star in our field, being recognized as ’40 Under 40′ for his work in Europe and more recently an L.A. Adweek Allstar. His experience as a Managing Director with Mediacom and OMD will ensure that all of our clients receive the same level of sophistication in strategy and service as the largest brands in America. Under Steven’s leadership, we will help see through our next phase of growth and expand our capabilities as traditional media channels make their final shift into the digital age. We are grateful for his global agency pedigree, and most importantly his alignment with our Mission to provide best-in-market performance at maximum scale for our clients. And besides, everyone knows I’m a sucker for a British Accent.”

While the installation of Mr. Abraham as President immediately adds new horizontal capacities for the agency, it also fuels the critical march toward leadership and core capabilities in audio. Bolstering their position even further, Oxford Road welcomes Mr. Kraig Kitchen as Strategic Advisor. According to Granger, “Kraig has been a mentor to me since well before I started the agency, so I am deeply humbled that he will now be closely advising the team in a formal capacity.”

Kraig Kitchin is a living legend in audio. A co-founder of Premiere Radio Networks, he led the network for 10 years to become the nation’s largest radio network measured by both annual revenues and audiences reached. Kitchin oversaw radio programming hosted by an all-star roster of personalities including Ryan Seacrest, Steve Harvey, Rush Limbaugh, Delilah, Jim Rome, Dr. Laura, Casey Kasem, George Noory, Bill Handel and scores of others. He was named one of the most Powerful People in Radio for ten consecutive years. Kitchin currently operates several businesses in partnership with top ranked and distinguished radio personalities. He is President of the talent management firm, SoundMind, with a focused effort toward managing the businesses of high-profile radio personalities and production companies.

Granger continues, “Kraig is not only immortalized on the Mount Rushmore of leaders in the audio field, he is one of the finest human beings I’ve ever known. This is still very much a relationship business and Kraig’s guiding hand will ensure that we elevate our contributions to client, media and talent relationships beyond anything ever achieved by an agency. His involvement is a critical ingredient to achieve our ambition of being the absolute leader in the space.”

As Oxford Road’s core agency business continues to grow and strengthen, innovation remains a top priority including development of the firm’s proprietary ad scoring system, Audiolytics™ and pioneering work in the evolution of the Smart Speaker landscape. Granger is clear that the road ahead travels toward an expanded purpose, for which Ms. Laine will be instrumental. He noted, “Jennifer has been a brilliant collaborator in orchestrating an agency rebrand (https://oxfordroad.com/) and partnering with us in the launch of work to extend our brand across the ecosystem. We’ve always been strong on substance, and now Jennifer’s contribution ensures we have equal strength in style. What’s more, she has made possible initiatives to further expand our mission as an organization and commitment to live out the idea of stakeholder capitalism during these turbulent times. In addition to helping establish Oxford Road’s podcasting arm and inaugural series, she is masterfully steering the ship on the undertakings we will reveal in the coming months. Stay tuned.”

Three Backgrounds of the Highest Order

Prior to joining Oxford Road, Mr. Abraham was a Managing Director of OMD USA. He has served other posts as Managing Director EVP of MediaCom LA, Global Client Director at Mediacom Global, VP of Media and Advertising Universal Pictures International and is currently a strategic business development advisor to Orfium, a leading software development business in the online content rights management space. An accomplished international media professional with 25 years of experience in the media and entertainment industry, his varied agency and company roles and responsibilities have ranged from planning, developing and implementing global multi-million dollar through-the line campaigns on behalf of multinational companies.

“I’ve been impressed by Dan’s style and approach and the way he has led the agency. Oxford Road is a hidden gem,” said Abraham. “This is a very attractive, appealing opportunity for me to come in and help a team of extremely smart practitioners in media, in a specific space, and enable them to spread their wings into other kinds of media environments, whether that be digital, analog, or any of the emerging platforms that are out there. Furthermore, it’s the agency’s concept of ‘influence’ that resonates here. The aim of adding the element of influence in the messages to consumers that they want to reach, toward helping behavioral changes that are ultimately going to be better for them within the communication that they consumers and getting involved within the conversation rather than just implementing somewhat traditional, two-dimensional advertising. That guiding principle at Oxford Road is attractive to me.”

Oxford Road’s newest strategic advisor, Mr. Kitchin, continues to operate several businesses in partnership with top ranked and distinguished radio personalities. Among other ongoing endeavors, he acts as co-President of Big Shoes Productions, Inc., a radio programming production company, owned by radio host, Delilah and is co-President of the talent management firm, Sound Mind, with a focused effort towards managing the businesses of high-profile radio personalities. He is Chairman of the National Radio Hall of Fame.

Kitchin added, “From day one, Dan Granger and the team at Oxford Road have been genuinely committed to client success. There’s not a time that I have been with any of the team members where I have just not felt this sense of urgency and this sense of competitiveness to want to come through for the client. It’s pure. There’s no distraction. They are entirely geared towards, ‘How do we do great work for clients?’”

Ms. Laine has formally joined the company to oversee strategic marketing and business development in addition to the critical aforementioned initiatives. These include producing “Oxford Road Presents,” namely its limited run series currently in progress, “The Divided States of Media,” focuses on the current polarized state of media as they, and the brands who support them, deal with programming and policy decisions against a backdrop of an increasingly divided populace as well as the culmination of this series, an initiative expected to debut in the weeks to follow the election, Media Roundtable. This initiative soon to be announced is in partnership with the National Institute for Civil Discourse and Ad Fontes Media, creator of the Media Bias Chart.

“With such a long-standing regard for Dan, the agency and their visionary and totally effective ways, the timing is perfect for my officially joining the team at Oxford Road,” Laine shared. “The strategic marketing work is fundamental. But, it’s the expanded vision for business, media partnerships and cultural impact that we expect to make the media industry safer for brands, and better for consumers. And therefore, the daily lives of our audiences who we all ultimately serve.”

Granger concludes, “With the partnership now complete with these three individuals of unparalleled talent, experience and character, there is now only one thing left to do: Win.”

For more information on the Media Roundtable, and how to get involved in the collective for better media business practices, please contact [email protected].

Download “Oxford Road Presents: The Divided States of Media” here: https://podcasts.apple.com/us/podcast/oxford-road-presents-the-divided-states-of-media/id1510649799

Kendall Allen Rockwell
WIT Strategy
+1 917-714-9213
email us here

ywAAAAAAQABAAACAUwAOw== Oxford Road Fortifies Executive Team - Appoints Steven Abraham as President, Brings on Kraig Kitchin and Jennifer Laine

Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact [email protected]


Trusted News Since 1995

A service for publishing professionals
·
Tuesday, November 3, 2020

·
529,887,444
Articles


·
3+ Million Readers

EU thanks PH gov’t, MILF on designation of monitoring team chair

0
EU thanks PH gov’t, MILF on designation of monitoring team chair

The European Union (EU) Delegation to the Philippines on Tuesday thanked the Philippine government and the Moro Islamic Liberation Front (MILF) for the recent designation of Heino Marius as the new Chair of the Third Party Monitoring Team (TPMT).

EU Chargé d’Affaires Thomas Wiersing (PNA)

In a statement, EU Chargé d’Affaires Thomas Wiersing also reiterated Europe’s commitment to the peace process. Since 2008, the EU has been one of the biggest supporters of the Mindanao Peace Process through a comprehensive approach.

“The European Union is pleased to note that the Peace Implementing Panels of the Government of the Philippines and the Moro Islamic Liberation Front have designated Heino Marius as Chair of the Third Party Monitoring Team”, Wiersing said.

He emphasized that the EU supports the political settlement through providing a humanitarian and human rights law expert to the International Monitoring Team (IMT) and supports the functioning of the TPMT which monitors the implementation of all the agreements signed by the parties, including the 2014 peace agreement.

A German national, Marius joined the European Commission in 1993 and served in various posts in EU Delegations in Ethiopia and India. In 2000, he was posted at EC headquarters in Brussels, and as Deputy Head of Unit for Pakistan, Afghanistan, Bangladesh, Sri Lanka, and the Maldives. Since the third quarter of 2013, Marius serves as Deputy Head of Division for South East Asia with the European External Action Service (EEAS).

As a key partner in promoting peace, security, and economic development in Mindanao, the EU is also spot-on in addressing the wider effect of COVID-19 (coronavirus disease 2019) among vulnerable groups through its Peace and Development in the Bangsamoro Autonomous Region in Muslim Mindanao (PD BARMM), a Php1.4 billion funding aimed to improve the social cohesion and resiliency of communities, and at the same time, address the health, social and economic impact of COVID-19 in the region.

The Php1.4 billion likewise helps to consolidate the hard-won peace in Bangsamoro by supporting the new administration, the parliament, the judicial system, and civil society through the transition.

Rise Mindanao, another EU program, focuses on the immediate priority of food security by supporting agro-cooperatives and strengthening the service delivery of local authorities. 

With the EU providing Php2 billion, this program helps to provide job opportunities for farmers, women, youth, and indigenous people.

Through its civil society partners, the EU is also working on COVID-19 information campaigns such as advocacy materials to inform communities on how to prevent the virus and cope with the pandemic.

Multi-lingual videos and infographics are being produced and disseminated widely, in particular to youth and women, to increase public understanding of COVID-19.


SIGN UP TO DAILY NEWSLETTER
CLICK HERE TO SIGN-UP

EU watchdog slams Germany for lapses in Wirecard fraud

0
EU watchdog slams Germany for lapses in Wirecard fraud

LONDON/FRANKFURT (Reuters) – Germany failed to do enough to avert the Wirecard fraud, the European Union’s markets watchdog said on Tuesday as it delivered a highly critical verdict on the country’s handling of its biggest post-war corporate scam.

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael Dalder/File Photo

Wirecard’s former Chief Executive Markus Braun and other executives have been held on suspicion of running a criminal racket that defrauded creditors of 3.2 billion euros ($3.73 billion).

Those accused, including Braun, deny any wrongdoing.

The European Securities and Markets Authority (ESMA) began a fast-track review in July into how Germany’s markets regulator BaFin and the country’s accounting watchdog the Financial Reporting Enforcement Panel (FREP) enforced EU transparency rules governing company information for markets and investors.

ESMA said in a rare 190-page rebuke of another regulator that it found a number of deficiencies, inefficiencies and legal and procedural impediments relating to BaFin’s independence from issuers and the Finance Ministry.

“For BaFin … there is a heightened risk of influence by the Ministry of Finance given the frequency and detail of reporting to the MoF in the Wirecard case, in some cases before actions were taken,” the ESMA report said.

German Finance Minister Olaf Scholz told reporters he welcomed the report and that its recommendations were broadly in line with the government’s action plan to address supervisory shortcomings highlighted by the Wirecard scandal.

“So I don’t look at this (report) as something critical,” Scholz added.

There were deficiencies even though BaFin and FREP had adequate resources, though confidentiality requirements prevented them from sharing information, ESMA said.

BaFin’s internal controls failed to pick up that some of its market abuse team were buying and selling Wirecard shares, ESMA noted.

Deputy finance minister Joerg Kukies told Reuters in October that it would ban watchdog staff from trading shares in companies it regulates following the scandal.

CRUSHING VERDICT

Markus Ferber, a German member of the European Parliament, said the report was a “crushing verdict” on financial supervision under the oversight of Finance Minister Olaf Scholz.

Wirecard, whose shares were included in Germany’s index of blue chip companies, stunned markets in June when it said that 1.9 billion euros it had claimed to hold in accounts were missing.

The European Commission asked ESMA to undertake the review and will use the findings to determine if there is a need for more centralised EU supervision of markets to stop such scandals from happening again.

“The Wirecard case has once again highlighted that high-quality financial reporting is essential for maintaining investor trust in capital markets, and the need to have consistent and effective enforcement of that reporting across the European Union,” ESMA Chair Steven Maijoor said in a statement.

In a response included in the ESMA report, BaFin said it disagrees that it should have demanded further examination of Wirecard’s financial statements after allegations surfaced in the press.

“As long as BaFin has no specific indications that go beyond only public publications like press articles, BaFin cannot issue a report to the public prosecutor’s office,” the regulator said.

FREP said ESMA’s findings are “not supported by the evidence and explanations” provided during the review and are “distorted by hindsight bias”.

Fabio De Masi, an influential German lawmaker, said the report was a “slap in the face” for BaFin.

Germany’s coalition government in October agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal.

Additional reporting by Christian Kraemer in Berlin; Editing by Edmund Blair, Kirsten Donovan and Louise Heavens

Sudanese government rejects religion workshop recommendations: SPLM-N Hilu

0
Sudanese government rejects religion workshop recommendations: SPLM-N Hilu




November 2, 2020 (KHARTOUM) – The Sudan People’s Liberation Movement-North, led by Abdel Aziz al-Hilu, revealed that the head of the Sudanese government delegation, Shams al-Din Kabbashi, rejected the recommendations of the workshop on the relationship between state and religion.

A workshop on the state’s relationship with religion was held in Juba, the capital of South Sudan, over the past week concerning the gaps between the government and the movement, as a result of the joint agreement between al-Hilu and Prime Minister Abdallah Hamdok on September 3.

“The Movement agreed to the facilitators and experts’ report proposing to separate religion from the state, in order to ensure a peaceful solution,” said the Movement’s spokesman, Koko Mohamed Jagdoul, in a statement extended to the Sudan Tribune on Monday.

“But in the closing session, Kabbashi rejected the outcomes of the workshop after having accepted them and congratulated the facilitators outside the hall.”

Jagdoul further pointed out that the head of the government delegation, Kabbashi, and the delegation’s spokesperson, Mohamed Hassan Eltaishi, were absent from most of the workshop sessions.

Consequently, the SPLM-N held Kabbashi responsible for the failure of the workshop, noting that its paramount goal was to reach a consensus on the relationship between religion and the state.

“Failure to accept the 3 September agreement means not accepting the separation of religion from the state and rejecting the peace process,” stressed the spokesman.

On September 3, the Sudanese Prime Minister agreed to introduce the subject of the relationship between the state and religion in the peace talks with al-Hilu, hold informal workshops, then reach a common understanding on the matter before resuming formal talks.

The SPLM demand made including the relationship of the state with religion in the peace negotiations their chief condition.

The workshop, which took place on Saturday and Sunday, was attended by representatives of both the Sudanese government and the SPLM-North and several experts, and in addition to the Public International Law & Policy Group (PILPG), the African Centre for the Constructive Resolution of Disputes (ACCORD), the PDS consultants, and the South Sudanese mediation team.

The SPLM-N spokesman said that the workshop held deep discussions on the debate about keeping religion out of secular government affairs.

Furthermore, local and international experts presented several models of the separation in a Muslim majority country, but the Turkish model appeared to be the most comparable to the Sudanese situation, he said.

“The two parties agreed on a final report draft proposed by the facilitators and experts, and it was read to the participants from both parties without objection.”

However, surprisingly, the representatives of the transitional government voiced reservations about some provisions, he added.

Sudan Tribune sought some clarification from Eltaishi, the spokesman for the Sudanese government delegation, but he did not comment on the alleged failure of the workshop.

A member of the Sovereign Council commented that the transitional government is looking forward to setting a time for the commencement of direct negotiations between the government and the Movement.

The September 3 agreement stipulates that negotiations will resume only after reaching an agreement concerning the relationship between religion and the state.

Kabbashi and Eltaishi returned to Khartoum on Monday evening.

(ST)