NEW YORK: Elon Musk, the outspoken and envelope-pushing chief executive of Tesla, overtook Amazon boss Jeff Bezos to become the world's wealthiest person, US media reported Thursday.
Musk is a major shareholder of the electric car company and has benefited from Tesla's surging share price over the last year. CNBC estimated Musk's wealth at $185 billion.
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Tesla CEO Elon Musk now world's wealthiest person
Tesla CEO Elon Musk now world's wealthiest person
- Musk overtook Amazon boss Jeff Bezos to become the world's wealthiest person
- CNBC estimates Musk's wealth at $185 billion.
Daesh group gunmen kill politician in Pakistan
- Attackers escaped after shooting the Islamist politician in Bajaur district, near the border with Afghanistan where militants remain active
PESHAWAR, Pakistan: Gunmen from the regional branch of the Daesh group have killed a politician in northwest Pakistan, police and the militants said Friday.
“Jamaat-e-Islami Bajaur leader Sufi Hameed was leaving the mosque after offering prayers after sunset (Thursday) when two masked men on a motorcycle opened fire on him,” senior police official Waqar Rafiq said.
The official said the attackers escaped after shooting the Islamist politician in Bajaur district, near the border with Afghanistan where militants remain active.
Islamic State Khorasan (IS-K) said its “soldiers shot an official of the apostate political party,” in a message on Telegram.
The local chapter of the Daesh group accuses religious political parties of going against strict religious preachings and supporting the country’s government and the military.
IS-K has recently carried out several attacks against political parties, including a suicide bomb blast at a rally in Bajaur last year which killed at least 54 people including 23 children.
“In this year alone, they have killed at least 39 people in targeted attacks and bomb explosions” in Bajaur, a senior local security official said on the condition of anonymity.
In both Khyber Pakhtunkhwa province, where Bajuar is located, and Balochistan province in the southwest, armed Islamist or separatist groups regularly target security forces and state representatives.
Militants operating in Pakistan include Tehreek-e-Taliban Pakistan (TTP), the country’s homegrown Taliban group.
Pakistan has seen a sharp rise in militant attacks in regions bordering Afghanistan since the Taliban returned to power in the country in 2021.
“Jamaat-e-Islami Bajaur leader Sufi Hameed was leaving the mosque after offering prayers after sunset (Thursday) when two masked men on a motorcycle opened fire on him,” senior police official Waqar Rafiq said.
The official said the attackers escaped after shooting the Islamist politician in Bajaur district, near the border with Afghanistan where militants remain active.
Islamic State Khorasan (IS-K) said its “soldiers shot an official of the apostate political party,” in a message on Telegram.
The local chapter of the Daesh group accuses religious political parties of going against strict religious preachings and supporting the country’s government and the military.
IS-K has recently carried out several attacks against political parties, including a suicide bomb blast at a rally in Bajaur last year which killed at least 54 people including 23 children.
“In this year alone, they have killed at least 39 people in targeted attacks and bomb explosions” in Bajaur, a senior local security official said on the condition of anonymity.
In both Khyber Pakhtunkhwa province, where Bajuar is located, and Balochistan province in the southwest, armed Islamist or separatist groups regularly target security forces and state representatives.
Militants operating in Pakistan include Tehreek-e-Taliban Pakistan (TTP), the country’s homegrown Taliban group.
Pakistan has seen a sharp rise in militant attacks in regions bordering Afghanistan since the Taliban returned to power in the country in 2021.
Fire breaks out at a Spanish nursing home, killing at least 10 people
- Authorities were alerted of the blaze early Friday morning in Villa Franca de Ebro
- Fire took place just weeks after devastating flash floods in Valencia killed more than 200 people
MADRID: At least 10 people died in a blaze at a nursing home in Zaragoza, Spain, before firefighters managed to extinguish it, local authorities reported on Friday.
Authorities were alerted of the blaze early Friday morning in Villa Franca de Ebro, about 30 minutes from the northeastern city.
The cause of the fire was not yet known, local media reported.
Jorge Azcon, head of the regional government of Aragon, whose capital city is Zaragoza, confirmed the deaths and said on X, formerly Twitter, that all government events in the region were canceled for the day.
Spanish Prime Minister Pedro Sanchez also expressed his shock over the fire and deaths.
The fire took place just weeks after devastating flash floods in Valencia killed more than 200 people and destroyed thousands of homes. The floods were the worst natural disaster in Spain’s recent history.
South Korean opposition leader handed suspended jail term
- Case concerns statements Lee Jae-myung made on the campaign trail, when he narrowly lost to incumbent President Yoon Suk Yeol in 2022
SEOUL: A South Korean court handed the country’s opposition leader a suspended prison sentence Friday for violating election laws — a ruling that may prevent him from running in the next presidential election.
The Seoul Central District Court found Lee Jae-myung, the leader of the main opposition Democratic Party, guilty and handed him a suspended one-year jail term, a court spokesperson told AFP.
The case concerns statements Lee made on the campaign trail, when he narrowly lost to incumbent President Yoon Suk Yeol in 2022.
Prosecutors had asked for a two-year prison sentence, saying Lee made a false statement in a TV interview in December 2021 that made people think he did not know Kim Moon-ki, a key figure in a controversial development project.
Kim had been found dead days earlier, although police found no evidence of foul play.
Lee was also accused of lying during a parliamentary hearing in 2021 in connection with another controversial development in Seongnam, where he was previously mayor.
The court ruled that the fact Lee made false statements on TV “greatly amplified their impact and reach,” it said in the written verdict.
Supporters wept outside the court after the verdict was announced, and Lee immediately vowed to appeal.
“The verdict is very difficult to accept,” he said.
If it is upheld on appeal, Lee will be stripped of his parliamentary seat and prohibited from running for public office for the next five years — which would include the 2027 presidential election.
Lee is seen as a leading contender in South Korea’s upcoming presidential election, due for early 2027, but the 60-year-old faces a slew of legal cases.
His other trials relate to corruption involving the Seongnam development project, an illegal $8 million cash transfer to North Korea, and pressuring a former mayoral secretary to provide false court testimony in his favor.
A former child factory worker who suffered an industrial accident as a teenage school drop-out, Lee rose to political stardom partly by playing up his rags-to-riches tale.
But his bid for the top office has been overshadowed by a series of scandals. He has also faced scrutiny due to persistent rumors linking him to organized crime.
At least five individuals connected to Lee’s various scandals, including late official Kim, have been found dead, many in what appeared to be suicides.
In January, Lee was stabbed in the neck by an attacker — who said he wanted to prevent him from “becoming president.”
Despite strict legal time limits, Lee’s cases are moving slowly through the courts, and public, acrimonious, drawn-out appeals could cause “considerable chaos in the political landscape,” Shin Yul, professor of political science at Myongji University, said.
“The Democratic Party is set to significantly escalate its attacks on the ruling party,” in a bid to convince the public their leader is not guilty, he said.
“However, it is also probable that the South Korean public will not be entirely supportive of Lee Jae-myung. Once a one-year prison sentence is issued, most people are now likely perceive him as guilty.”
Sri Lankan president’s coalition wins majority in snap election
- Anura Kumara Dissanayake’s National People’s Power coalition won 137 seats of 196 for which direct elections were held
COLOMBO: Sri Lankan President Anura Kumara Dissanayake’s leftist coalition won a thumping victory in a snap general election, gaining power to push through his plans to fight poverty in the island nation recovering from a financial meltdown.
Dissanayake’s Marxist-leaning National People’s Power (NPP) coalition won 137 seats of 196 for which direct elections were held, a two-thirds majority, Friday’s ballot counting showed. Local media projected its tally would cross 150 in the 225-member parliament after more seats are distributed under a proportional seat distribution system.
That would give Dissanayake sweeping powers to even abolish the contentious executive presidency as he has planned.
While the clear mandate strengthens political stability in the South Asian country, some uncertainty on policy direction remains due to Dissanayake’s promises to try and tweak the International Monetary Fund (IMF) rescue program that bailed the country out of its economic crisis, analysts said.
Dissanayake, a political outsider in a country dominated by family parties for decades, comfortably won the island’s presidential election in September.
But his coalition had just three seats in parliament before Thursday’s snap election, prompting him to dissolve it and seek a fresh mandate.
The NPP secured almost 62 percent or almost 7 million votes in Thursday’s election, up from the 42 percent Dissanayake won in September, indicating that he had drawn more widespread support including from minorities and built on his victory.
“We see this as a critical turning point for Sri Lanka. We expect a mandate to form a strong parliament, and we are confident the people will give us this mandate,” Dissanayake said after casting his vote on Thursday.
“There is a change in Sri Lanka’s political culture that started in September, which must continue.”
Voters directly elect 196 members to parliament from 22 constituencies under a proportional representation system. The remaining 29 seats will be distributed according to the island-wide proportional vote obtained by each party.
TENTATIVE ECONOMIC RECOVERY
Celebrations were largely muted, with the exception of a few NPP loyalists who lit fireworks on the outskirts of the capital, Colombo.
The Samagi Jana Balawegaya party of opposition leader Sajith Premadasa, the main challenger to Dissanayake’s coalition, won 35 seats and the New Democratic Front, backed by previous President Ranil Wickremesinghe, won just three seats.
Sri Lanka typically backs the president’s party in general elections, especially if voting is held soon after a presidential vote.
The president wields executive power but Dissanayake still required a parliamentary majority to appoint a fully-fledged cabinet and deliver on key promises to cut taxes, support local businesses, and fight poverty.
A nation of 22 million, Sri Lanka was crushed by a 2022 economic crisis triggered by a severe shortage of foreign currency that pushed it into a sovereign default and caused its economy to shrink by 7.3 percent in 2022 and 2.3 percent last year.
Boosted by a $2.9 billion bailout program from the International Monetary Fund (IMF), the economy has begun a tentative recovery, but the high cost of living is still a critical issue for many, especially the poor.
Dissanayake also aims to tweak targets set by the IMF to rein in income tax and free up funds to invest in welfare for the millions hit hardest by the crisis.
But investors worry his desire to revisit the terms of the IMF bailout could delay future disbursements, making it harder for Sri Lanka to hit a key primary surplus target of 2.3 percent of GDP in 2025 set by the IMF.
“The country has given a clear mandate politically. The key question would be if this is at the cost of economic policy,” said Raynal Wickremeratne, co-head of research at Softlogic Stockbrokers in Colombo.
“I think with this majority they may try to negotiate a bit more on the (IMF) targets as well,” he said. “A continuation of the current reform program on a broader extent would be positive for the country.”
Wars, looming Trump reign set to dominate G20 summit
- G20 leaders gather in Brazil on Monday for a G20 summit set to be dominated by differences over wars in the Middle East and UkrainE
RIO DE JANEIRO:G20 leaders gather in Brazil on Monday for a G20 summit set to be dominated by differences over wars in the Middle East and Ukraine, and implications of Donald Trump’s White House return.
Security considerations — always high at such meetings — were elevated further after a failed bomb attack late Wednesday outside Brazil’s Supreme Court in Brasilia.
Police were probing the two blasts as a possible “terrorist act” committed by a Brazilian perpetrator, whose death was the sole casualty.
The summit venue is in Rio de Janeiro, in the city’s stunning bayside museum of modern art, which is the epicenter of a massive police deployment designed to keep the public well away.
Brazil’s leftwing President Luiz Inacio Lula da Silva will be using the opportunity to highlight his position as a leader championing Global South issues while also being courted by the West.
That role will be tested in the months and years ahead as Latin America and other regions navigate “America First” policies promised by Donald Trump when he becomes US president in January.
At this G20, it will be outgoing President Joe Biden who will represent the world’s biggest economy, but as a lame duck the other leaders will be looking beyond.
Just before the Rio summit, on Sunday, Biden will make a stop in Brazil’s Amazon to underline the fight against climate change — another issue that Trump is hostile toward.
The G20 meet is happening at the same time as the UN’s COP29 climate conference in Azerbaijan — and as the world experiences dramatic climate phenomena, including in Brazil where flooding, drought and forest fires have taken heavy tolls.
At the last G20, in India, the leaders called for a tripling of renewable energy sources by the end of the decade, but without explicitly calling for an end to the use of fossil fuels.
One invited leader who declined to come to Rio is Russian President Vladimir Putin, who said his presence could “wreck” the gathering.
Putin denied an International Criminal Court warrant out against him, for Russia’s actions in Ukraine, was a factor in his decision. His foreign minister will represent Russia in Rio.
China’s President Xi Jinping, however, will be attending, and will even extend his stay after the summit to make an official visit to Brasilia on Wednesday.
China is Brazil’s biggest trading partner, and the two countries have been touting themselves as mediators to help end Russia’s war in Ukraine, so far without success.
That conflict, along with Israel’s offensives in Gaza and Lebanon, will loom large at the summit.
“We are negotiating with all the countries on the final declaration’s passages about geopolitics... so that we can reach consensual language on those two issues,” Brazil’s chief diplomatic official for the G20, Mauricio Lyrio, said.
Those conflicts will be “the elephant in the room,” Flavia Loss, international relations specialist at the School of Sociology and Politics of Sao Paulo (FESPSP), told AFP.
But that should not prevent Brazil from finding consensus on issues that it has made priorities under its G20 presidency, she said, such as the fight against hunger or taxing the world’s super-rich.
Lula, heading up Latin America’s biggest economy, set out his line in May when he said: “A lot of people insist on dividing the world between friends and enemies. But the more vulnerable are not interested in simplist dichotomies.”
The Rio G20 summit will open on Monday with Lula officially launching a “Global Alliance against Hunger and Poverty.”
The initiative aims to rally nations and international bodies to free up financing for that campaign, or to replicate programs that have previously had success.
And on the issue of taxing billionaires, the G20 countries already declared a desire to cooperate to bring that about, as set out by their finance ministers who met in Rio in June.
It remained to be seen, though, whether the leaders at the summit would pursue that goal, and on what terms.
Following the summit, Brazil hands over the G20 presidency to South Africa.
Security considerations — always high at such meetings — were elevated further after a failed bomb attack late Wednesday outside Brazil’s Supreme Court in Brasilia.
Police were probing the two blasts as a possible “terrorist act” committed by a Brazilian perpetrator, whose death was the sole casualty.
The summit venue is in Rio de Janeiro, in the city’s stunning bayside museum of modern art, which is the epicenter of a massive police deployment designed to keep the public well away.
Brazil’s leftwing President Luiz Inacio Lula da Silva will be using the opportunity to highlight his position as a leader championing Global South issues while also being courted by the West.
That role will be tested in the months and years ahead as Latin America and other regions navigate “America First” policies promised by Donald Trump when he becomes US president in January.
At this G20, it will be outgoing President Joe Biden who will represent the world’s biggest economy, but as a lame duck the other leaders will be looking beyond.
Just before the Rio summit, on Sunday, Biden will make a stop in Brazil’s Amazon to underline the fight against climate change — another issue that Trump is hostile toward.
The G20 meet is happening at the same time as the UN’s COP29 climate conference in Azerbaijan — and as the world experiences dramatic climate phenomena, including in Brazil where flooding, drought and forest fires have taken heavy tolls.
At the last G20, in India, the leaders called for a tripling of renewable energy sources by the end of the decade, but without explicitly calling for an end to the use of fossil fuels.
One invited leader who declined to come to Rio is Russian President Vladimir Putin, who said his presence could “wreck” the gathering.
Putin denied an International Criminal Court warrant out against him, for Russia’s actions in Ukraine, was a factor in his decision. His foreign minister will represent Russia in Rio.
China’s President Xi Jinping, however, will be attending, and will even extend his stay after the summit to make an official visit to Brasilia on Wednesday.
China is Brazil’s biggest trading partner, and the two countries have been touting themselves as mediators to help end Russia’s war in Ukraine, so far without success.
That conflict, along with Israel’s offensives in Gaza and Lebanon, will loom large at the summit.
“We are negotiating with all the countries on the final declaration’s passages about geopolitics... so that we can reach consensual language on those two issues,” Brazil’s chief diplomatic official for the G20, Mauricio Lyrio, said.
Those conflicts will be “the elephant in the room,” Flavia Loss, international relations specialist at the School of Sociology and Politics of Sao Paulo (FESPSP), told AFP.
But that should not prevent Brazil from finding consensus on issues that it has made priorities under its G20 presidency, she said, such as the fight against hunger or taxing the world’s super-rich.
Lula, heading up Latin America’s biggest economy, set out his line in May when he said: “A lot of people insist on dividing the world between friends and enemies. But the more vulnerable are not interested in simplist dichotomies.”
The Rio G20 summit will open on Monday with Lula officially launching a “Global Alliance against Hunger and Poverty.”
The initiative aims to rally nations and international bodies to free up financing for that campaign, or to replicate programs that have previously had success.
And on the issue of taxing billionaires, the G20 countries already declared a desire to cooperate to bring that about, as set out by their finance ministers who met in Rio in June.
It remained to be seen, though, whether the leaders at the summit would pursue that goal, and on what terms.
Following the summit, Brazil hands over the G20 presidency to South Africa.
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