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BUCHAREST, Romania (AP) — Romanian lawmakers on Monday voted narrowly in favor of a new pro-European coalition government led by incumbent Prime Minister Marcel Ciolacu. The move could usher in an end to a protracted political crisis in the European Union country following the annulment of a presidential election by a top court. Parliament approved the new administration in a 240-143 vote in Romania's 466-seat legislature. The new coalition is made up of the leftist Social Democratic Party, or PSD, the center-right National Liberal Party, PNL, the small ethnic Hungarian UDMR party and national minorities. It caps a month-long period of turmoil in which far-right nationalists made significant gains in a Dec. 1 parliamentary election , a week after a first-round presidential race saw the far-right outsider Calin Georgescu emerge as the front-runner. “It will not be an easy mandate for the future government,” Ciolacu, whose PSD party topped the polls in the parliamentary election, said in a statement Monday. “We are aware that we are in the midst of a deep political crisis," he said. "It is also a crisis of trust, and this coalition aims to regain the trust of citizens, the trust of the people.” Romani's 16 ministerial positions will be shared among the parties, which will hold a slim majority in the legislature. It's widely seen as a tactical partnership to shut out far-right nationalists whose voices found fertile ground amid high living costs and a sluggish economy. Ciolacu, who came third in the first-round presidential ballot despite polls indicating he would win the most votes, has served as prime minister since June 2023. After parliament’s approval, President Klaus Iohannis swore in the new government and warned the new Cabinet that it's entering a “difficult new period” in which “for many Romanians, there are major concerns.” Romania was plunged into turmoil after Georgescu’s surprise success in the presidential race, after allegations of electoral violations and Russian interference emerged. Days before the Dec. 8 runoff, the Constitutional Court made the unprecedented move to annul the presidential race . “We go through complicated times, but I think we all learned from mistakes of the past,” Ciolacu said. “I hope that together with my colleagues in the coalition, we’ll find the best solutions to get past the challenges we have in front of us.” Ciolacu said that the new government would aim to quickly organize the rerun of the presidential election in which the new coalition has agreed to put forward an agreed common pro-European candidate. Cristian Andrei, a political consultant based in Bucharest, said that the new government made up of the same political parties will likely embrace “soft populist” rhetoric such as economic patriotism, anti-austerity, and a peace solution in neighboring Ukraine to counter the rise of far-right populism. “This will be a way to answer the concerns of many Romanians who voted for populists ... but will not solve the fundamental problem of trust,” he said. “The only decisive factor now will be who and how convincing the pro-European candidates will be against this popular revolt.” George Simion, the leader of the far-right Alliance for the Unity of Romanians, which came second in the parliamentary election, said that all lawmakers from his party on Monday would vote against the Ciolacu government. In 2021, the PSD and the PNL also formed an unlikely but increasingly strained coalition together with UDMR, which exited the Cabinet last year after a power-sharing dispute. Stephen McGrath reported from Warwick, England.32 Pieces Of Home Decor That Are As Cute As They Are Useful
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Knight stops 20 shots, Florida rolls past Carolina 6-0 for 2nd win over 'Canes in as many daysGDIN Successfully Supports Establishment of 10 New Joint Ventures in 2024 AloneMinnesota Timberwolves star Anthony Edwards was fined $75,000 by the NBA for "public criticism of the officiating and using inappropriate and profane language." The two-time All-Star's comments occurred after a 113-103 loss to the Golden State Warriors on Saturday. "The s--t was terrible," Edwards said. "They don't want to talk back to my coach, they don't want to talk back to me. I said one thing to the ref, and he gave me a tech. Motherf--ker told one of my teammates if I would have said 'y'all calling a bad foul' he would have given me a tech." The Timberwolves have lost two straight games, sitting at 14-13 this season. Inconsistency has defined the start of the 2024-25 season for Minnesota, as the team has been unable to capitalize on momentum following a trip to the Western Conference Finals. Trade acquisitions such as Julius Randle and Donte DiVincenzo have struggled to adjust to the change of scenery, and the Timberwolves have dropped from the best net rating in the association last season to the No. 5 mark to open the year (via NBA.com ). Edwards has remained efficient to start his fifth year in the league, averaging 25.6 points and 5.4 rebounds per game on 44.8/42.1/80.5 shooting splits. It's worth noting that he's averaging just 4.2 free-throw attempts per game this season after recording 6.4 shots from the charity stripe each night last year. Edwards is also avoiding the paint compared to past years, though. He's taking a career-low 14.7 percent of his shots within three feet of the basket after attempting 27.6 percent of his total shots in that range throughout his first four years in the association (via Basketball Reference ). He acknowledged that he hasn't been able to get to the rim as frequently, which may be affecting his ability to draw fouls. "If you watch the game, there's nothing for me to do if I get downhill," Edwards said after a 133-107 loss to the New York Knicks on Thursday. "Everybody want me to get downhill. I know that's my strength. I get to the rim, lay the ball up, dunk the ball, but I can't do that if there's no lane, it's not open. Every team we play did a great job of sitting in the gaps. When I get to the rim, putting four people at the rim." "So, I mean there's nothing I can do about going to the hole right now," he added. Edwards has been fined for criticizing officiating in the past, as he was penalized $40,000 during the 2023-24 season. The Timberwolves will attempt to put an end to their brief losing streak against the Atlanta Hawks on Monday. Tip-off is at 7:30 p.m. ET.
Adani stock rout worsens on Moody's, Fitch's '-ve outlook'
Eric Adams, the New York mayor, has made a “spectacle” out of to distract from his own legal woes, the murder suspect’s lawyer has claimed. Mr Mangione pleaded not guilty to state murder and terror charges on Monday after allegedly n, the chief executive of UnitedHealthcare, in Manhattan earlier in December 2024. He was extradited to New York last week and was brought to a courthouse in an orange jumpsuit and handcuffs, accompanied by armed guards and Mr Adams. The mayor, a former police captain who came to office pledging to clean up crime, later told an interviewer: “I wanted to look him in the eye and say you carried out this terroristic act in my city – the city that the people of New York love.” At the hearing at Manhattan Criminal Court, Mr Mangione’s lawyer, Karen Friedman Agnifilo, accused Mr Adams of using the “perfectly choreographed, utterly political” scene to distract from his own corruption charges, and cast doubt on whether her client would receive a fair trial. “[Mr Mangione] was on display for everyone to see in the biggest staged perp walk [where a suspect is taken by police through a public area] I’ve ever seen in my career. What was the mayor doing at this press conference?” she said. “The mayor should know more than anyone about the presumption of innocence that he, too, is afforded when he is dealing with his own issues. “And frankly, I submit that he was just trying to detract from those issues by making a spectacle of Mr Mangione.” Gregory Carro, the presiding judge, said he was unable to control what happened outside court but vowed Mr Mangione would receive a fair trial. Mr Adams has been charged with bribery and fraud in a federal corruption investigation, accused of accepting illegal gifts from Turkish nationals and a government official in return for political favours. He denies the charges. Mr Mangione entered the court under a heavy guard, dressed in a red jumper over a white shirt for the short hearing. He pleaded not guilty to 11 state charges including first-degree murder in furtherance of terrorism and two counts of second-degree murder, one of which is charged as killing as an act of terrorism. Federal prosecutors have brought a separate case against the 26-year-old which could see him face the if convicted of using a firearm to commit murder and interstate stalking resulting in death. However, Joel Sideman, a prosecutor with the Manhattan district attorney’s office, said New York had “primary jurisdiction” over the case and would try it . Mr Mangione’s family, who live in Baltimore, did not appear to be present in the courtroom. About two dozen women queuing for the public seats said they were there to support the murder suspect and were visibly emotional when he walked in, according to ABC News. Several of them wore face masks. “This is a grave injustice, and that’s why people are here,” one of the women, who said she arrived at the courthouse at 5am, told the broadcaster. Last week, Ms Friedman Agnifilo suggested that the terror charges brought by New York conflicted with the claims of federal prosecutors. The state charges accusing him of seeking to “intimidate or coerce a civilian population” – a precondition for a terror offence in New York – while the federal charges focus on crimes against an individual, she said. Alvin Bragg, New York district attorney, has previously said Mr Mangione’s “intent was to sow terror”. When arrested, Mr Mangione was carrying a handwritten letter that called health insurance companies “parasitic” and complained about corporate greed, according to a law enforcement bulletin obtained by the Associated Press. Ammunition found near was inscribed with the words “delay”, “deny” and “depose”, mimicking a phrase used by critics of the health insurance industry. The other charges against Mr Mangione include four counts of criminal possession of a weapon in the third degree, one count of criminal possession of a weapon in the fourth degree, and one count of criminal possession of a forged instrument in the second degree.
Sundry Photography Broadcom Inc.’s ( NASDAQ: AVGO ) stock surged 35% in two days despite a mediocre fiscal Q4 , as management offered investors a picturesque addressable market forecast for 2027. Q4 was not the blowout report the market made it We offer tech sector coverage that combines fundamentals and technicals. After recommending a stock, we provide entries and exits. Our cumulative returns are 131% and a lead over institutional technology portfolios by as much as 157% since inception. We are the only retail team featured regularly in Tier 1 media, such as Fox, CNBC, TD Ameritrade and more. Our services include an automated hedge, portfolio of 10+ positions, broad market analysis, deep-dives, real-time trade alerts PLUS a weekly webinar every Thursday at 4:30 pm Eastern. Read More Beth Kindig is the CEO and Lead Tech Analyst for the Tech Insider Network and has over ten years of experience as a professional in the tech industry. She is a regular speaker at tech conferences and on financial news programs such as: Fox Business, TDAmeritrade, CoinDesk, NPR, Bloomberg TV Asia, Motley Fool podcast, This Week in Startups and more discussing her stock analysis. She is known for making bold calls on tech stocks. Beth is the leader of the investing group Tech Insider Network , where she utilizes her team’s nearly two decades of Silicon Valley experience to combine fundamental and technical analysis to consistently beat Wall Street funds such as ARKK and QQQ (the performance is fully audited). Features of Tech Insider Network include: A fully transparent portfolio, institutional-level research reports, real-time trade notifications and market signals, automated hedging signals, weekly webinars, and chat. Learn more Tech Insider Network is unique in that we blend real tech industry experience with active portfolio management. We pioneered combining cutting-edge fundamentals with high-performing technical analysis for retail. Beth cares deeply about individual investors having access to the same quality of information as institutions -- especially in regards to the tech industry. Tech overtook oil in 2010 as the world’s most valuable industry and she was at the forefront of this change in Silicon Valley. She wants to bring her experience and insights to ordinary investors so they can participate in the extraordinary gains that tech has to offer. Her weekly newsletter has tens of thousands of subscribers. Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Police in Moscow raided multiple bars early Saturday (November 30, 2024) and arrested the director of a gay travel agency under laws criminalising “LGBT propaganda”, state media reported. The raids came on the one-year anniversary of Russia’s Supreme Court outlawing the “international LGBT movement”, paving the way for arrests and prosecutions of the country’s already repressed LGBTQ community. Russian security forces raided at least three bars and nightclubs overnight “as part of measures to combat LGBT propaganda”, the state TASS news agency reported. Social media videos from the Arma nightclub, the former premises of the Mutabor, showed club-goers sitting on the dancefloor while riot police walked around shouting orders. Another video showed people being walked out of the popular Mono gay club in central Moscow with their hands above their heads, with a police van parked outside. The interior ministry said police had also raided an unnamed nightclub on Skladochnaya Street that had been “propagandising the ideology of the banned LGBT movement”. The Interfax news agency named the club as “Inferno Night”. Police in the capital also arrested the director of a travel agency for gay men on suspicion of “organising tours for members of the LGBT community”. The 48-year-old director of “Men Travel” was suspected of “preparing a trip for supporters of non-traditional sexual values to go to Egypt for the New Year holidays”, the TASS news agency reported Saturday (November 30, 2024), citing law enforcement. The Kremlin has ramped up conservative rhetoric since launching its military assault on Ukraine almost three years ago, casting the conflict as a battleground against the West and its values. Rights groups say the country is waging an unprecedented crackdown on LGBTQ people that has seen the owners of gay bars arrested and anyone associated with promoting LGBTQ rights prosecuted. Published - December 01, 2024 05:00 am IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Russia / pubs, discotheque and bars / gays and lesbians / LGBT
Oklahoma State's 3-point accuracy sends Miami to defeatNobel Prize-winning economist Paul Krugman has published a new essay arguing that Americans' love of mobile gambling apps is doing serious societal harm. Writing on his Substack page, Krugman outlines how the mobile web has erased any friction points that used to exist for legalized betting and have made it into a full-blown addiction that he believes is on par with the opioid epidemic. "As technology made gambling and speculation essentially frictionless, fueling the rise of predatory ' limbic capitalism ,' policy did nothing to protect Americans from their self-destructive instincts," he argued. "And while ordinary gambling can and does ruin people’s lives, gambling that takes the form of asset speculation can suck in far more people, because, as Robert Shiller pointed out long ago, widespread optimism about an asset’s price can for a while be self-fulfilling, because it initiates a 'natural Ponzi scheme.'" ALSO READ: Trump adviser on plot to take Greenland: 'We have not expanded our country in 70 years' Krugman believes that this is exactly what has been happening in the world of cryptocurrency , where prices of assorted digital coins have been soaring even though, he argued, there has been little proven use for them outside of conducting illicit activities . That said, Krugman made no predictions on when the cryptocurrency bubble is going to burst because "with gambling on asset prices easier than ever, natural Ponzi schemes can run even longer and higher than in the past," while then adding that "crypto, built on a foundation of technobabble and libertarian derp, is both a Ponzi scheme and a cult." As if this weren't troubling enough, Krugman noted the outsize role that the crypto industry played in political donations in the 2024 presidential election, pointing to a report that just three pro-cryptocurrency super PACs spent a whopping $133 million to influence the outcome. This led Krugman to conclude that "the crypto piece of the gambling epidemic gets so big that it’s seriously warping our politics ." Read the whole essay here .
Trump wants pardoned real estate developer Charles Kushner to be ambassador to FranceNone
LANDOVER, Md. (AP) — Austin Seibert missed his second extra point of the game with 21 seconds left after Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, Juanyeh Thomas returned the ensuing onside kick attempt for a touchdown and the Dallas Cowboys pulled out a 34-26 victory Sunday that extended the Washington Commanders’ skid to three games. Seibert, who missed the previous two games with a right hip injury, was wide left on the point-after attempt following a low snap. Thomas then took the kick back 43 yards as the Cowboys (4-7) ended their losing streak at five in improbable fashion. Part of that was the play of backup Cooper Rush, who threw for 247 yards and two TDs in his third start in place of starter Dak Prescott. Part was also the defense forcing two turnovers, as Chauncey Golston ripped the ball out of Brian Robinson Jr.’s hands for what was called an interception of Daniels in the second quarter, and Donovan Wilson stripped John Bates midway through the fourth. KaVonte Turpin provided the fireworks with a spinning, 99-yard kickoff return TD seconds after Daniels found Zach Ertz in the end zone and scored on a 2-point conversion to cut the deficit to three with 3:02 left. In the final three minutes alone, the Commanders (7-5) scored 10 points and allowed Thomas’ TD. All that after the score was 10-9 through three quarters before madness ensued. CHIEFS 30, PANTHERS 27 CHARLOTTE, N.C. (AP) — Patrick Mahomes threw for 269 yards and , Spencer Shrader kicked a 31-yard field goal as time expired and Kansas City beat Carolina to reach double-digit wins for the 10th straight season. Noah Gray caught two TD passes as the Chiefs (10-1) bounced back from last week’s 30-21 loss at Buffalo and won at the buzzer yet again in a season of narrow escapes. for the two-time defending Super Bowl champions, who scored on their first five possessions. Bryce Young finished 21 of 35 for 262 yards and a touchdown for the Panthers (3-8), who had their two-game winning streak snapped. David Moore had six receptions for 80 yards and a touchdown. Trailing 27-19, Young completed a fourth-down pass to Adam Thielen to move the chains, then went deep for the veteran receiver, who drew a pass-interference penalty on Chamarri Conner. That set up a 1-yard touchdown run by Chuba Hubbard. LIONS 24, COLTS 6 INDIANAPOLIS (AP) — and David Montgomery added a third touchdown run, leading Detroit to a victory over Indianapolis. Gibbs finished with 21 carries for 90 yards as the Lions (10-1) extended their league-high winning streak to nine straight. Detroit has its been 11-game record since the franchise’s inaugural season in 1934. Jared Goff continued his sensational season, too, completing 26 of 36 throws for 269 yards. The Colts (5-7) lost their second straight home game and for the fourth time in their past five games. with 172 yards while rushing 10 times for 61 yards. the NFL’s highest-scoring offense largely in check Sunday, it was doomed by its inability to finish drives with touchdowns. BUCCANEERS 30, GIANTS 7 EAST RUTHERFORD, N.J. (AP) — Baker Mayfield catapulted into the end zone for one of Tampa Bay’s four rushing touchdowns, and the Buccaneers beat the Giants and new starting quarterback Tommy DeVito, snapping a four-game losing streak and extending New York’s skid to six. The Giants’ decisions this week to bench and then release quarterback Daniel Jones did nothing to help the NFL’s lowest-scoring offense. DeVito threw for 189 yards, mostly in the second half with New York well on its way to its sixth straight loss at home, where it is winless. Meanwhile, the Buccaneers dominated in every phase in a near-perfect perfect performance that featured TD runs of 1 yard by Sean Tucker, 6 yards by Bucky Irving and 1 yard by Rachaad White. After recent losses to the Ravens, 49ers and Chiefs, Tampa Bay (5-6) moved within one game of idle Atlanta in the NFC South. Tampa Bay scored on five of its on first six possessions to open a 30-0 lead, and none was more exciting than Mayfield’s TD run with 12 seconds left in the first half. On a second-and-goal from the 10, he avoided pressure and went for the end zone. He was hit by Cor’Dale Flott low and Dru Phillips high around the 2-yard line, and he was airborne when he crossed the goal line. The ball came loose when he hit the turf but he jumped up and flexed — — as the Bucs took a 23-0 lead. DOLPHINS 34, PATRIOTS 15 MIAMI GARDENS, Fla. (AP) — Tua Tagovailoa threw for 317 yards and four touchdowns, including two scores to running back De’Von Achane, and Miami routed New England. The Dolphins (5-6) have a thin margin for error the rest of the season but have kept themselves afloat with a three-game winning streak. With their win at New England (3-9) in Week 5, the Dolphins have swept their division rivals in consecutive seasons for the first time since 1999-2000. Tagovailoa, who moved to 7-0 in his career against New England, entered the game with a league-high 73.4% completion rate and went 29 for 40. Backup Skylar Thompson replaced Tagovailoa with about 11 minutes left in what was already a blowout, but a bad handoff on his first play resulted in a fumble that was recovered by cornerback Christian Gonzalez and returned 63 yards for a touchdown. It cut New England’s deficit to 31-15, and Tagovailoa returned the next drive. TITANS 32, TEXANS 27 HOUSTON (AP) — Will Levis threw for 278 yards and his 70-yard touchdown pass to Chig Okonkwo put Tennessee on top in the fourth quarter and the Titans held on for a win over the Texans. Okonkwo grabbed a short pass and rumbled for the touchdown to put the Titans (3-8) up 30-27 with 91⁄2 minutes remaining. Safety Eric Murray missed a tackle that would have stopped him near midfield. The Texans (7-5) had a chance to tie it with less than two minutes remaining, but Ka’imi Fairbairn’s 28-yard field-goal attempt sailed wide left. He fell to the ground after the miss before getting up and slamming his helmet on the field. Titans coach Brian Callahan held both hands in the air and smiled after watching the miss that allowed his team to win on a day it had three turnovers. The Texans forced a three-and-out, but couldn’t move the ball after that and Harold Landry sacked C.J. Stroud in the end zone for a safety to make it 32-27 and allow Tennessee to snap a two-game skid. VIKINGS 30, BEARS 27, OT CHICAGO (AP) — Sam Darnold threw for 90 of his 330 yards in overtime to set up , and Minnesota outlasted Chicago after giving up 11 points in the final 22 seconds of regulation. Darnold threw two touchdown passes, Jordan Addison caught eight passes for a career-high 162 yards and a touchdown, and T.J. Hockenson had 114 yards receiving for the Vikings (9-2), who remained one game behind Detroit in the rugged NFC North. Caleb Williams threw for 340 yards and two touchdowns for the Bears (4-7), who lost their fifth straight. Minnesota appeared to have the game in hand, leading 27-16 with 1:56 left after Romo kicked a 26-yard field goal. But the Bears weren’t finished. Deandre Carter made up for that led to a touchdown in the third quarter with a 55-yard kickoff return to the 40. Williams took it from there, capping an eight-play drive with a 1-yard touchdown pass to Keenan Allen. A 2-point conversion pass to DJ Moore made it 27-24 with 22 seconds remaining. The Bears recovered the onside kick and Williams hit Moore over the middle for a 27-yard gain to the 30 before spiking the ball. Cairo Santos made a 48-yard field goal as time expired.Is Austin Ekeler OK At Hospital After Dallas Cowboys Scary Hit?
The Ducks will ring in December by hosting the Ottawa Senators on Sunday in a matchup of teams that are an eyelash under .500 with designs on gaining some upward momentum. They’ll enter the clash with identical .477 points percentages that situate them near the bottom of their respective divisions but not far behind a crowded pack of middling clubs. The Ducks have had more of a defensive inclination while the Senators have shown more scoring pop to date. Ducks coach Greg Cronin said his team hadn’t “had too many stinkers” of late, and that’s been reflected by their 5-3-1 record across their past nine games, with four of their five-plus-goal games this season arriving in that span. “Since we got back from that New York trip, I think we’ve been on a pretty good path in terms of playing with an identity and competing,” Cronin said. They had to grind hard on Black Friday, when they played what Cronin described as something of a postseason-style game against the Kings at Honda Center. Though they fell 2-1 to what veteran forward Ryan Strome described as a “mature, veteran team” that they couldn’t quite edge past despite playing a “disciplined, structured and north-south” game, the Ducks still felt they carried forward some positive indicators from their recent play. “It was a good hockey game. We competed hard. I thought we dictated a lot of the game. We played similar to the way we’ve been playing,” Strome said. Kings coach Jim Hiller concurred. With teams frequently playing the Southern California franchises back to back, he and Cronin get constant looks at one another’s teams during pre-scouts, and Hiller assessed the Ducks’ performance quite favorably. “I thought – we’ve played them this year, I’ve scouted them this year – I thought that’s the best game they’ve played this year. I thought they played very well,” Hiller said. Time will tell if Sunday’s match elicits similar plaudits from Ottawa coach Travis Green, who spent parts of two seasons with the Ducks as a player and is in his first year as the Sens’ head coach after previously guiding the Vancouver Canucks and New Jersey Devils briefly. Though Brock McGinn has made some progress in his return, he and Robby Fabbri remained unavailable. So, too, did Leo Carlsson, whose upper-body injury has kept him out of the Ducks’ past two matches. Cam Fowler will be a game-time decision. Related Articles Troy Terry has four points across his three-game scoring streak, while Trevor Zegras just snapped a four-gamer that saw him compile six points. For Ottawa, forwards Tim Stützle and Drake Batherson each have seven points in the Sens’ past five outings. Captain Brady Tkachuk, whom Cronin suggested could be a model for his own power forward Mason McTavish, has racked up five points during a three-game surge. Those are the three Senators scoring above a point per game this season, with Stützle’s 28 points in 22 games leading the way. When: 5 p.m. Sunday Where: Honda Center How to watch: Victory+
Lucknow, Dec 23 (PTI) Uttar Pradesh Chief Minister Yogi Adityanath on Monday said that at a time when many countries are at war, Prime Minister Narendra Modi is binding the world in the thread of peace, harmony and unity through the message of Lord Buddha. Welcoming a delegation led by Governor of Japan's Yamanashi Province Kotaro Nagasaki at his official residence here, Adityanath described UP as a state of "Unlimited Potential". An MoU was signed between the Uttar Pradesh government and Yamanashi Prefecture (Japan) for industrial cooperation, tourism and vocational education in the presence. "The roots of strategic, cultural and global cooperation have been connected between the two countries for more than a millennium. Today, when many countries of the world are at war, Prime Minister Shri Narendra Modi is binding the world in the thread of peace, harmony and unity through the message of Lord Buddha," Adityanath said. "The strong relations between Prime Minister Narendra Modi and former Prime Minister of Japan, late Shinzo Abe, have also taken the political, economic and business relations of India-Japan to new heights," he said. "The state government is keen to cooperate with Japanese companies. Japan also provided great support as a partner country for the Global Investors Summit-2023," Adityanath said. On behalf of the state government, Chief Secretary Manoj Kumar Singh and Director General of the Governor's Policy Planning Bureau of Yamanashi Province Junichi Ishidera exchanged the MoU, the UP government said in a statement. Adityanath said the MoU is a result of the prime minister's commitment to work together with the Quad countries for humanity on the basis of shared democratic values. Currently, more than 1,400 Japanese companies are operating in India, including seven major firms -- Mitsui Technologies, Honda Motors, Yamaha Motors, Denso, Toyodrunk, Nissin ABC Logistics, Sekisui DLJM Molding -- operating in Uttar Pradesh. Economic co-operation between India and Japan is very rich, he said, and added that bilateral trade between the two countries has been USD 22.854 billion in the financial year 2023-24. During this period, USD 17.69 billion was exported from Japan to India and USD 5.15 billion was imported. Adityanath told the Japanese delegation that Uttar Pradesh is getting a new identity as an 'expressway state'. After the construction of the Ganga Expressway, Uttar Pradesh will have 55 per cent share in the total expressways of the country. At present, five expressways of a total length of 1,130 km are operational, he said. The UP CM said that in the electronics and IT/ITES sector, Uttar Pradesh has the distinction of contributing about 45 per cent of India's total mobile manufacturing. About 55 per cent of India's mobile components are manufactured here. About 26 per cent of India's mobile manufacturers are active in Uttar Pradesh and more than 200 ESDM companies are located in the state. The state government is developing clusters for semi-conductor manufacturing and fab-units. Apart from this, Uttar Pradesh is rapidly emerging as the main hub of data centers in India, he said. On this occasion, Governor Yamanashi Prefecture of Japan, Kotaro Nagasaki said there have been spiritual and historical relations between Yamanashi Prefecture and Uttar Pradesh. Expressing happiness over the MoU, he said that Japan will provide mutual cooperation in labour skilled development, renewable energy, hydro power, exchange of knowledge and technology. He told the chief minister that "Japan is your second home", the statement said, adding Adityanath also spoke a few lines in Japanese. (This story has not been edited by THE WEEK and is auto-generated from PTI)
By the early 1900s, Argentina was in a golden age. It rose to become a top 10 nation in global wealth. The country had a top-notch railway system, rich agricultural yields, bountiful mineral wealth, and a high-growth economy. Its middle class grew by leaps and bounds. Laissez-faire capitalism had done wonders for the country. Following the Great Depression in 1929, everything changed. The state took over economic planning. Social and welfare programs were dramatically expanded. Industries were nationalized. Government spending soared. As wealth was redistributed, corruption spread like a plague. A long period of instability followed, extending up until today. There were 7 military coups in Argentina during the 20th century. Much of the time the economy was in shambles. Inflation spiraled out of control, often surpassing 100% annually. The past 8 decades have been a very difficult period for Argentinians. A Chainsaw Massacre (For Bureaucracy) Things have finally begun to look up for Argentina. In December of 2023, President Javier Milei took office and began a libertarian reform program. The shift is reflected in the country’s stock market, as shown by the chart below. It shows the price of ARGT, the largest Argentina ETF, since its launch in 2011. Source: Yahoo Finance As you can see, Argentine stocks were basically flat for an entire decade (priced in US dollars). But since Milei took over, shares have more than doubled as foreign investment flooded into the country. What has Milei done to change Argentina’s path so dramatically? In October, Daily Reckoning contributor Joel Bowman explained in The Greatest Political Experiment of Our Age : All of that was within the first 48 hours of his presidency. Milei has taken a metaphorical chainsaw to government spending. The country just emerged from recession, and its public sector has posted a financial surplus for the first time since 2008. Impressively, inflation is down from a recent high of 25% per month to 2.5% in the most recent data. Not All Sunshine Change of this magnitude is not easy. I have spoken with a few Argentine friends recently, and every one of them has a story about people they know getting fired from their government jobs. Argentina’s poverty rate increased by 11% to 53% earlier this year. Slashing government spending will increase productivity over the mid and long term, but in the short term, it does harm employment and GDP. Despite this, all the Argentinians I talked with expressed hopefulness going forward. They acknowledge the system had to change and seem willing to bear the consequences in exchange for a shot at long-term stability. As we await Donald Trump’s second term, it is worth studying Argentina. Milei and Trump have much in common. They both campaigned on eliminating government waste and revitalizing their respective economies. Milei has a ~13-month lead on us. So if Trump does follow through with his promise to slash federal spending, we can expect a somewhat similar path. Short-term pain is traded for long-term growth. I think that’s a price well worth paying. The question is: can the U.S. government oversee its own downsizing? We shall see. Merry Christmas Everyone!
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