Lebanon’s former foreign minister tries to defend Davos trip as country faces economic collapse

Gebran Bassil, Lebanon’s former foreign minister, came to Davos “on his own expenses,” he told CNBC at the World Economic Forum in Switzerland on Thursday. Bassil’s claim came as a defense against a torrent of accusations of public funds misuse by a politician viewed as the face of Lebanon’s political corruption and economic disintegration. “I came simply on my own expenses,” Bassil, who heads the largest political bloc in Lebanon’s parliament, told CNBC’s Hadley Gamble. Bassil is a target of gr


Gebran Bassil, Lebanon’s former foreign minister, came to Davos “on his own expenses,” he told CNBC at the World Economic Forum in Switzerland on Thursday.
Bassil’s claim came as a defense against a torrent of accusations of public funds misuse by a politician viewed as the face of Lebanon’s political corruption and economic disintegration.
“I came simply on my own expenses,” Bassil, who heads the largest political bloc in Lebanon’s parliament, told CNBC’s Hadley Gamble.
Bassil is a target of gr
Lebanon’s former foreign minister tries to defend Davos trip as country faces economic collapse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: natasha turak
Keywords: news, cnbc, companies, faces, bassil, told, popular, lebanon, foreign, economic, defend, lebanons, came, political, tries, trip, minister, country, davos, lebanese, expenses, protests


Lebanon's former foreign minister tries to defend Davos trip as country faces economic collapse

Gebran Bassil, Lebanon’s former foreign minister, came to Davos “on his own expenses,” he told CNBC at the World Economic Forum in Switzerland on Thursday. Bassil’s claim came as a defense against a torrent of accusations of public funds misuse by a politician viewed as the face of Lebanon’s political corruption and economic disintegration. His presence at Davos has drawn widespread anger among Lebanese, with petitions to ban his participation at the elite event garnering tens of thousands of signatures. Hundreds of Lebanese citizens are reported to have been injured, arrested and hospitalized in nationwide anti-government protests in the Middle Eastern country as the alpine conference got underway. “I came simply on my own expenses,” Bassil, who heads the largest political bloc in Lebanon’s parliament, told CNBC’s Hadley Gamble.

“I know rumors and lies circulate always on issues like this, but I am used to this and this is the reality. On my own expenses.” The claim raised immediate questions of how someone on a civil servant salary could charter a personal plane. Bassil added that “This was offered to me. You know I was invited here … Not one Lebanese leader on the expense of the Lebanese treasury. Very simple.” Bassil is a target of growing rage across Lebanon and the subject of a popular anti-government protest chant. The son-in-law of Lebanese President Michel Aoun, Bassil is supported by Shiite militant and political group Hezbollah, which is designated a terrorist organization by the U.S. Many in and outside of Lebanon accuse him of corruption, pilfering the country’s bankrupt electricity utility and proliferating the sectarian politics that stymied an economy now facing its worst crisis since the country’s bloody 15-year civil war that ended in 1990. Popular protests have rocked the small country of 6 million since October, and have recently spiraled into violent clashes with police as security forces use rubber bullets, tear gas and water cannons on demonstrators. More than 100 people have been injured.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: natasha turak
Keywords: news, cnbc, companies, faces, bassil, told, popular, lebanon, foreign, economic, defend, lebanons, came, political, tries, trip, minister, country, davos, lebanese, expenses, protests


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Carrie Lam suggests foreign influence in Hong Kong protests: ‘Perhaps there is something at work’

Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months. Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Wes


Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months.
Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Wes
Carrie Lam suggests foreign influence in Hong Kong protests: ‘Perhaps there is something at work’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: matt clinch
Keywords: news, cnbc, companies, reporting, media, disproportionate, conclusive, suggests, influence, fair, hong, protests, kong, carrie, evidence, lam, work, world, foreign


Carrie Lam suggests foreign influence in Hong Kong protests: 'Perhaps there is something at work'

Hong Kong leader Carrie Lam hasn’t ruled out the possibility that a foreign country has funded political protests that have roiled the city-state over the last nine months.

Asked by CNBC’s Geoff Cutmore on Tuesday about who might be backing the demonstrators, who have appeared to be well organized, she said: “Well, I have no conclusive evidence to answer your question, but it is for all to see that what has happened in Hong Kong on this occasion has attracted disproportionate commentary from Western media, from overseas governments and politicians.”

“At the same time we have seen riots taking place in other parts of the world, but the disproportionate reporting of Hong Kong has been assessed by an agency on fair reporting in the United States,” she said in an interview at the World Economic Forum in Davos, Switzerland. Several Chinese media reports have pointed to a report by FAIR, a media critique organization based in New York, which was released in December.

“And I do feel that perhaps there is something at work, although I said there hasn’t been any conclusive evidence, so there is a bigger picture other than the domestic situation,” Lam said.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: matt clinch
Keywords: news, cnbc, companies, reporting, media, disproportionate, conclusive, suggests, influence, fair, hong, protests, kong, carrie, evidence, lam, work, world, foreign


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Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX). Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex


The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).
Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial.
Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex
Beijing will leave Hong Kong to resolve protests, HKEX chair says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, hkex, world, chair, protests, leave, cha, resolve, issues, exchange, hong, kong, stock, public, beijing


Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).

Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. The public disorder has spread to consider other issues such as rampant property prices. The most recent rally on Sunday once again turned violent.

Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Exchange, Laura Cha, said she felt Beijing would resist from interfering.

“I believe that it will, and it should. It is a local issue under one country, two systems,” said Cha.

For 10 years until 2018, Cha was a member of China’s National People’s Congress, acting as the Hong Kong deputy. The businesswoman added she believed that Hong Kong would soon be able to tackle the issues that have led to the unrest.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, hkex, world, chair, protests, leave, cha, resolve, issues, exchange, hong, kong, stock, public, beijing


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Lebanon to release protesters detained after night of riots

The public prosecutor said those detained during the riots would be released except those with other pending cases. The protesters, who came from the country’s north, east and the capital itself, lobbed flares at security forces, metal bars, stones and tree branches. More than 120 of those were treated in hospitals, including a protester who sustained an eye injury, as well as security force members. Security forces set fire to a few tents set up by protesters nearby. However, Human Rights Watch


The public prosecutor said those detained during the riots would be released except those with other pending cases.
The protesters, who came from the country’s north, east and the capital itself, lobbed flares at security forces, metal bars, stones and tree branches.
More than 120 of those were treated in hospitals, including a protester who sustained an eye injury, as well as security force members.
Security forces set fire to a few tents set up by protesters nearby.
However, Human Rights Watch
Lebanon to release protesters detained after night of riots Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-19
Keywords: news, cnbc, companies, countrys, public, detained, lebanese, protesters, forces, downtown, lebanon, security, release, force, clashes, riots, protests, night


Lebanon to release protesters detained after night of riots

Lebanese demonstrators raise a large clenched fist with “revolution” written on it at the Martyrs’ Square in the centre of the capital Beirut on October 27, 2019, during ongoing anti-government protests.

Lebanon’s public prosecutor ordered the release Sunday of 34 people detained the previous evening amid the worst day of violence since protests erupted three months ago, the National State News agency said.

The public prosecutor said those detained during the riots would be released except those with other pending cases. It was not clear how many would remain in detention if any.

The clashes took place amid the backdrop of a rapidly worsening financial crisis and an ongoing impasse over the formation of a new government. The Cabinet headed by Prime Minister Saad Hariri resigned in late October.

Protesters have called for more rallies on Sunday.

Riot police fired volleys of tear gas and rubber bullets on Saturday to disperse thousands of protesters rallied outside the parliament and in downtown Beirut. The protesters, who came from the country’s north, east and the capital itself, lobbed flares at security forces, metal bars, stones and tree branches.

The pitched street battles lasted for nearly nine hours and were among the worst scenes of rioting since protests broke out in mid-October.

At least 377 people were injured in the clashes, including according to the Red Cross and the Lebanese Civil Defense. More than 120 of those were treated in hospitals, including a protester who sustained an eye injury, as well as security force members.

The clashes also took place in the courtyard and steps of a mosque downtown. The top Muslim Sunni Fatwa office called it “inappropriate” and said protesters had taken refuge inside the mosque and were taken care of.

Protesters smashed windows and the facade of the headquarters of the country’s Banking Association with metal bars. Security forces set fire to a few tents set up by protesters nearby.

Interior Minister Raya El Hassan said Saturday that security forces were ordered to protect peaceful protests. “But for the protests to turn into a blatant attack on the security forces and public and private properties, this is condemned and totally unacceptable,” she tweeted.

However, Human Rights Watch described the security force response as “brutal” and called for an urgent end to a “culture of impunity” for police abuse.

“There was no justification for the brutal use of force unleashed by Lebanon’s riot police against largely peaceful demonstrators in downtown Beirut,” said Michael Page, deputy Middle East director at HRW. “Riot police showed a blatant disregard for their human rights obligations, instead launching teargas canisters at protesters’ heads, firing rubber bullets in their eyes and attacking people at hospitals and a mosque.”

The protesters have rallied against the country’s political elite who have ruled Lebanon since the end of the 1975-90 civil war. The protesters blame politicians for widespread corruption and mismanagement in a country that has accumulated one of the largest debt ratios in the world.

Panic and anger have gripped the public as their local currency, pegged to the dollar for more than two decades, plummeted. The Lebanese pound lost more than 60% of its value in recent weeks on the black market. The economy has seen no growth and foreign inflows dried up in the already heavily indebted country that relies on imports for most of its basic goods.

Meanwhile, banks have imposed informal capital controls, limiting withdrawal of dollars and foreign transfers.

Prime Minister-designate Hassan Diab had been expected to announce an 18-member Cabinet on Friday, but last minute disputes among political factions scuttled his latest attempt.


Company: cnbc, Activity: cnbc, Date: 2020-01-19
Keywords: news, cnbc, companies, countrys, public, detained, lebanese, protesters, forces, downtown, lebanon, security, release, force, clashes, riots, protests, night


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Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police. One Instagram account, for instance, has amassed more than 190


The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.
The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests.
Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.
One Instagram account, for instance, has amassed more than 190
Hong Kong protesters are voting with their wallets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
Keywords: news, cnbc, companies, protesters, protests, second, hong, voting, economy, yellow, yearswhile, kong, wallets, driven, 2019, businesses


Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.

The city’s economy shrank in the second and third quarter of 2019, marking a technical recession and the first time in a decade its economy weakened for two consecutive quarters. The government forecasts the economy will contract by 1.3% in 2019 as the Asian financial hub braces for its first budget deficit in 15 years.

While most businesses want to stay out of politics, many have faced declining sales — partially as a result of a 40% decline in visitor numbers in the second half of 2019.

Yet, phone apps have popped up showing maps of businesses believed to be supporting the protests, as well as those that are not. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.

One Instagram account, for instance, has amassed more than 190,000 followers since its launch in September and shows and promotes, so-called “yellow businesses” that support the protests.

CNBC visited several businesses, including Lung Moon Restaurant in Hong Kong’s Causeway Bay district, which has a sign on its window declaring: Stand with Hong Kong.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
Keywords: news, cnbc, companies, protesters, protests, second, hong, voting, economy, yellow, yearswhile, kong, wallets, driven, 2019, businesses


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Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests

CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020. Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations. The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods wor


CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020.
Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations.
The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods wor
Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: annie palmer
Keywords: news, cnbc, companies, country, traders, small, met, india, bezos, jeff, amazons, businesses, stage, billion, company, amazon, protests, pledges, smbhav


Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests

CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020. – Bezos, whose worth has been estimated at more than $110 billion, is officially in India for a meeting of business leaders in New Delhi. (Photo by Sajjad HUSSAIN / AFP) (Photo by SAJJAD HUSSAIN/AFP via Getty Images)

Amazon CEO Jeff Bezos announced a $1 billion investment in India, as his company faces a fresh antitrust probe and waves of protests in the country.

Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations. He said the $1 billion investment will be used to digitize small and medium-sized businesses in the country and that Amazon hopes to export $10 billion worth of India-made goods around the world by 2025.

“I predict that the 21st century is going to be the Indian century,” Bezos said on stage, while wearing traditional Indian attire. “The dynamism, the energy…this country has something special. The most important alliance is going to be the alliance between India and the United States, the world’s oldest democracy and the world’s largest democracy.”

Bezos touched on other topics during the fireside chat, including climate change and the future of space exploration.

Smbhav is a two-day event held by Amazon that’s aimed at helping the company connect with millions of small and medium-sized businesses in the country. Amazon has already poured more than $5 billion in its India business. It went on a hiring spree in the country last year and announced a partnership with India’s Future Retail earlier this month.

The announcement builds on Amazon’s efforts to expand the marketplace in India. The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods worldwide on Amazon.

Amazon’s investments in India haven’t always been met with enthusiasm. While Bezos appeared on stage, a group of small business owners criticized his trip, hosting protests across 300 cities in India. The Confederation of All India Traders, a group that represents 70 million traders and 40,000 trade associations, called Amazon “the worst enemy” of traders in the country and held signs saying “Jeff Bezos Go Back.”

The company also faces a fresh antitrust probe by India’s antitrust watchdog. The Competition Commission of India on Monday launched a probe into whether Amazon and Walmart’s Flipkart have violated competition laws by promoting “preferred sellers” on their platforms and offering deep discounts. Flipkart and Amazon both say they’re fully compliant with the country’s competition laws.

In addition to his appearance at Smbhav, Bezos has also sought a meeting with India’s Prime Minister Narendra Modi and celebrities from the Bollywood movie industry, according to Bloomberg. On Tuesday, Bezos also paid his respects to a memorial of Mahatma Gandhi in New Delhi.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: annie palmer
Keywords: news, cnbc, companies, country, traders, small, met, india, bezos, jeff, amazons, businesses, stage, billion, company, amazon, protests, pledges, smbhav


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Iran’s judiciary says around 30 arrested over plane crash protests

Aircraft parts from the wreckage of a Boeing Co. 737-800 aircraft, operated by Ukraine International Airlines, which crashed shortly after takeoff lie on the ground near Shahedshahr, Iran, on Wednesday, Jan. 8, 2020. Iran’s judiciary has arrested around 30 protesters who took to the streets after authorities admitted that a Ukrainian plane that crashed outside Tehran was accidentally hit by an Iranian missile, a spokesman said on Tuesday. “Around 30 people have been arrested for taking part in i


Aircraft parts from the wreckage of a Boeing Co. 737-800 aircraft, operated by Ukraine International Airlines, which crashed shortly after takeoff lie on the ground near Shahedshahr, Iran, on Wednesday, Jan. 8, 2020.
Iran’s judiciary has arrested around 30 protesters who took to the streets after authorities admitted that a Ukrainian plane that crashed outside Tehran was accidentally hit by an Iranian missile, a spokesman said on Tuesday.
“Around 30 people have been arrested for taking part in i
Iran’s judiciary says around 30 arrested over plane crash protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14
Keywords: news, cnbc, companies, judiciary, ukrainian, crash, arrested, crashed, aircraft, protests, tuesdayaround, took, ukraine, tolerance, irans, wreckage, plane


Iran's judiciary says around 30 arrested over plane crash protests

Aircraft parts from the wreckage of a Boeing Co. 737-800 aircraft, operated by Ukraine International Airlines, which crashed shortly after takeoff lie on the ground near Shahedshahr, Iran, on Wednesday, Jan. 8, 2020.

Iran’s judiciary has arrested around 30 protesters who took to the streets after authorities admitted that a Ukrainian plane that crashed outside Tehran was accidentally hit by an Iranian missile, a spokesman said on Tuesday.

“Around 30 people have been arrested for taking part in illegal gatherings … We have tolerance towards legal rallies,” said Gholamhossein Esmaili, the semi-official Tasnim news agency reported.


Company: cnbc, Activity: cnbc, Date: 2020-01-14
Keywords: news, cnbc, companies, judiciary, ukrainian, crash, arrested, crashed, aircraft, protests, tuesdayaround, took, ukraine, tolerance, irans, wreckage, plane


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Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests

Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week. The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores. “These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.” Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in D


Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week.
The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores.
“These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.”
Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in D
Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie palmer
Keywords: news, cnbc, companies, waves, heads, probes, bezos, businesses, ecommerce, cait, faces, flipkart, small, jeff, sellers, protests, preferred, amazon, india, regulatory


Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests

Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019.

Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week.

Bezos will appear on stage Wednesday at Amazon’s Smbhav event for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations, according to Bloomberg. Smbhav is an annual event held by Amazon in New Delhi that’s aimed at helping the company connect with millions of small and medium-sized businesses in the country.

Bezos has also sought a meeting with India’s Prime Minister Narendra Modi and celebrities from the Bollywood movie industry, Bloomberg reported. An Amazon spokesperson declined to comment on the details of Bezos’ visit.

Not everyone is expected to welcome Bezos when he touches down in India. The Confederation of All India Traders (CAIT), a group that represents 70 million traders and 40,000 trade associations, is planning a “National Protest Day” on Wednesday. The group plans to host protests across 300 cities during Bezos’ visit.

The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores.

“If they could not empower existing retailers on their portal, why they are looking for more retailers?” Praveen Khandewal, CAIT secretary general, and B.C. Bhartia Nagpur, CAIT national president, said in a statement. “Amazon is trying to create false propaganda that it is the true friend of traders, though it is the worst enemy.”

It comes as Amazon faces additional roadblocks that threaten to upend its goal of expanding in India. The Competition Commission of India (CCI) on Monday launched a probe into whether Amazon and Walmart’s Flipkart have violated competition laws by promoting “preferred sellers” on their platforms and offering deep discounts.

“Allegedly, there is an existence of various vertical arrangements between Flipkart with their preferred sellers on the platforms; and Amazon with their preferred sellers on the platforms, respectively which leads to a foreclosure of other nonpreferred sellers from the online marketplace,” the order states. “These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.”

A spokesperson from Amazon told CNBC in a statement: “We welcome the opportunity to address allegations made about Amazon; we are confident in our compliance, and will cooperate fully with CCI.”

A representative from Flipkart said the company is reviewing the CCI notice, but that it’s “fully compliant” with India’s competition laws.

“We take pride in democratizing e-commerce in India and giving market access to [hundreds of thousands] of [micro businesses], sellers, artisans and small businesses, making quality and affordable goods available to consumers through our transparent and efficient marketplace while creating lakhs of jobs,” the spokesperson said.

Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in December 2018. The rules prevent foreign-owned e-commerce companies like Amazon from selling products through affiliated companies they own a significant stake in, or from offering special discounts and exclusive deals in the country. Amazon pulled an estimated 400,000 items from its shelves as a result of the new rules, while Flipkart removed thousands of products from its platform, according to The New York Times.

Amazon and Flipkart have become fierce rivals in India, which is poised to become one of the fastest growing e-commerce markets in the world. Amazon has poured more than $5 billion into its India business, went on a hiring spree in the country last year and announced a partnership with India’s Future Retail earlier this month. Walmart in 2018 paid $16 billion to acquire Flipkart.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie palmer
Keywords: news, cnbc, companies, waves, heads, probes, bezos, businesses, ecommerce, cait, faces, flipkart, small, jeff, sellers, protests, preferred, amazon, india, regulatory


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Trump’s support for Iran’s protesters could actually be ‘worse’ for them, professor says

The admission came after days of vehement denial from the Islamic Republic, which angered Iranians and triggered a public backlash. Videos on social media showed mass protests and people chanting: “Death to the dictator,” referring to Iran’s Supreme Leader Ali Khamenei. “National Security Adviser suggested today that sanctions & protests have Iran ‘choked off’, will force them to negotiate,” Trump said on Twitter Sunday, in both English and Farsi. President Donald Trump tweeted on Sunday that he


The admission came after days of vehement denial from the Islamic Republic, which angered Iranians and triggered a public backlash.
Videos on social media showed mass protests and people chanting: “Death to the dictator,” referring to Iran’s Supreme Leader Ali Khamenei.
“National Security Adviser suggested today that sanctions & protests have Iran ‘choked off’, will force them to negotiate,” Trump said on Twitter Sunday, in both English and Farsi.
President Donald Trump tweeted on Sunday that he
Trump’s support for Iran’s protesters could actually be ‘worse’ for them, professor says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: joanna tan
Keywords: news, cnbc, companies, trumps, iranian, protesters, trump, protests, iran, professor, negotiate, worse, actually, irans, regime, pressure, told, support, tehran, sanctions


Trump's support for Iran's protesters could actually be 'worse' for them, professor says

The admission came after days of vehement denial from the Islamic Republic, which angered Iranians and triggered a public backlash. Videos on social media showed mass protests and people chanting: “Death to the dictator,” referring to Iran’s Supreme Leader Ali Khamenei.

Demonstrations have spread across Iran since Saturday, after the Iranian regime admitted that its armed forces had unintentionally shot down a Ukrainian passenger plane departing from Tehran, killing all 176 people on board.

“National Security Adviser suggested today that sanctions & protests have Iran ‘choked off’, will force them to negotiate,” Trump said on Twitter Sunday, in both English and Farsi. “Actually, I couldn’t care less if they negotiate. Will be totally up to them but, no nuclear weapons and ‘don’t kill your protesters.'”

President Donald Trump tweeted on Sunday that he “couldn’t care less” if Iran negotiates with the U.S. or not, and again warned the Iranian regime not to “kill” its protesters.

The more you give them credit, the more you give them support, the worse it will be for them, because in that case, the regime will consider it is an international plot.

However, Cedomir Nestorovic, professor of geopolitics at the French ESSEC Business School in Singapore, cautioned that Trump’s solidarity with protesters may not be good for them.

“I don’t believe that President Trump’s intervention in this field would be very fruitful for the United States, because it is an internal protest,” said Cedomir Nestorovic, professor of geopolitics at the French ESSEC Business School in Singapore on Monday.

“The more you give them credit, the more you give them support, the worse it will be for them, because in that case, the regime will consider it is an international plot, that the United States are intervening in the local affairs of Iran, so I don’t think it’s a very good thing,” he told CNBC.

Earlier, Trump warned the Iranian government that the “world is watching,” and told the people of Iran “I’ve stood with you since the beginning of my Presidency, and my Administration will continue to stand with you.”

Tensions between the U.S. and Iran reached new heights after the U.S. killing of a top Iranian military commander, Qasem Soleimani, on Jan. 3. His death triggered retaliation from Tehran which responded by firing ballistic missiles at Iraqi air bases housing American and coalition troops. There were no reported casualties in that attack.

However, Iranian armed forces bracing for counter-attacks from the U.S. accidentally shot down the plane killing all aboard including Iranians, Canadians and Ukrainians, which led to public outcry and unrest. Iran has previously been accused by rights groups for clamping down on protests with brute force.

Trump’s Sunday tweet was referring to comments by White House national security advisor Robert O’Brien, who told Fox News on Sunday: “I think the maximum pressure campaign is working … Iran is being choked off, and Iran is going to have no other choice but to come to the table.”

O’Brien was speaking about the Trump administration’s renewed sanctions on Tehran. Often referred to by Washington as the maximum pressure campaign, it is aimed at crippling the Iranian economy with sanctions that were reintroduced after the U.S. pulled out of a multi-nation nuclear deal with Iran in 2018.

“What’s going to cause them to negotiate is the pressure on the economy, and when you’ve got students out there chanting ‘death to the dictator,’ and when you have thousands of Iranians out protesting in the street, that’s the sort of pressure that’s going to bring them to the table,” he told Fox News.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: joanna tan
Keywords: news, cnbc, companies, trumps, iranian, protesters, trump, protests, iran, professor, negotiate, worse, actually, irans, regime, pressure, told, support, tehran, sanctions


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European stocks open flat as investors await trade and geopolitical developments

European stocks opened mixed on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner. The pan-European Stoxx 600 hovered around the flatline in early deals, with tech stocks adding 0.3% while basic resources fell by 0.4%. Mnuchin also confirmed that the details will be published this week. Asian stocks mostly advanced on Monday as investors look ahead to the inking of the


European stocks opened mixed on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner.
The pan-European Stoxx 600 hovered around the flatline in early deals, with tech stocks adding 0.3% while basic resources fell by 0.4%.
Mnuchin also confirmed that the details will be published this week.
Asian stocks mostly advanced on Monday as investors look ahead to the inking of the
European stocks open flat as investors await trade and geopolitical developments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: elliot smith
Keywords: news, cnbc, companies, trade, stocks, deal, ukrainian, mnuchin, developments, investors, protests, iran, phase, european, geopolitical, flat, sign, open, await


European stocks open flat as investors await trade and geopolitical developments

European stocks opened mixed on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner.

The pan-European Stoxx 600 hovered around the flatline in early deals, with tech stocks adding 0.3% while basic resources fell by 0.4%.

Representatives from Washington and Beijing are expected to sign the first phase of a long-awaited trade accord on Wednesday, and U.S. Treasury Secretary Steven Mnuchin insisted on Sunday that China’s commitments had not changed during a lengthy translation process. Mnuchin also confirmed that the details will be published this week.

Asian stocks mostly advanced on Monday as investors look ahead to the inking of the deal, with MSCI’s broadest Asia-Pacific index excluding Japan gaining 0.49%.

Tensions in the Middle East have continued as anti-government protests spread across Iran, after the Iranian regime admitted that its armed forces unintentionally shot down a Ukrainian passenger plane in Tehran, killing 176 people. U.S. President Donald Trump tweeted his support for the protesters on Sunday.

Back in Europe, U.K. Prime Minister Boris Johnson will travel to Northern Ireland on Monday to meet with leaders of the country’s newly-formed executive and his Irish counterpart, Leo Varadkar.

A raft of U.K. economic data is due at 9:30 a.m. London time, including manufacturing and construction figures, trade balances and GDP readings for November.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: elliot smith
Keywords: news, cnbc, companies, trade, stocks, deal, ukrainian, mnuchin, developments, investors, protests, iran, phase, european, geopolitical, flat, sign, open, await


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