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Incumbent president, 12 candidates on provisional list for Guinea-Bissau elections

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The Supreme Court of Justice of Guinea-Bissau on Monday published a provisional list of 13 candidates for the November 24 presidential elections, including the incumbent President Jose Vaz.

According to the list, Vaz will run as an independent candidate.

Winning of the legislative elections in March, the African Party for the Independence of Guinea and Cape Verde (PAIGC) will be represented by former Prime minister Domingos Pereira.

Three other major candidates are Umaro Embalo for the Movement for a Democratic Alternative (Madem G-15), Nuno Gomes Na Biam for the United People’s Assembly – Guinea-Bissau Democratic Party, and former Prime Minister Carlos Gomes Junior as independent candidate.

The six unsuccessful candidates, including the only female candidate Nancy Schwartz, were not validated due to “incomplete files”.

However, they have 48 hours to appeal to the Supreme Court.
However, presidential elections will be held in Guinea-Bissau on Nov. 24 with a second round planned for Dec. 29, if no candidate receives more than 50 per cent of the vote.

Legislative elections held in Guinea-Bissau on March 10.
The African Party for the Independence of Guinea and Cape Verde (PAIGC) won 47 of the 102 seats and remained the largest party.

Although its loss of ten seats resulted in a hung parliament, pre-election agreements with the Assembly of the People United (five seats) and the New Democracy Party (one seat).

The Union for Change (one seat) gave the PAIGC-led coalition a six-seat majority in the National People’s Assembly.

(Xinhua/NAN)

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BREAKING: About six injured in U.S. school shooting

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At least six people were injured during a Thursday shooting at a Southern California high school in the U.S., CNN reports.

The report indicates that three of the victims are in critical condition.

According to the report, the L.A County Sheriff’s Department is responding to a shooting at Saugus High School, about 30 miles of north of Los Angeles.

The gunman who carried out the shooting has also been reported dead.

The authorities focused on evacuating the students from the school premises after the shooting.

Thursday’s incident joins a growing list of gun violence in the U.S.

Details later…

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Oil falls as U.S.-China trade deal prospects nosedive

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Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.

U.S. President Donald Trump said on Wednesday that the two countries were close to finalising a trade deal, but he fell short of providing a date or venue for the signing ceremony, disappointing investors.

Brent crude futures LCOc1 edged down 32 cents, or 0.5 per cent, to 61.74 dollars a barrel by 0758 GMT, while U.S. West Texas Intermediate crude CLc1 was at 56.54 per cent, down 26 cents or 0.5 per cent.

A forecast by the International Energy Agency for slower global oil demand growth post-2025 also weighed on the market.

Global oil demand is expected to grow by 1 million barrels per day (bpd) on average to 2025, but is forecast to slow to 100,000 bpd a year from then on as fuel efficiency improves and more electric vehicles hit the road, the IEA said in its annual World Energy Outlook for the period to 2040.

Even as U.S. production growth slows from the breakneck pace of recent years, the world’s top oil producer will still account for 85 per cent of the increase in global oil output to 2030, and for 30 per cent of the increase in gas, the agency said.

The share of global oil production by members of the Organisation of the Petroleum Exporting Countries (OPEC) and Russia is seen falling to 47 per cent for much of the next decade, a level not seen since the 1980s.

“The effects have been striking, with U.S. shale now acting as a strong counterweight to efforts to manage oil markets,” IEA’s Executive Director Fatih Birol said.

In the United States, crude oil inventories were forecast to have risen for a third straight week last week, while refined products inventories likely declined, a preliminary Reuters poll showed on Tuesday.

Five analysts polled by Reuters estimated, on average, that crude inventories rose around 1.6 million barrels in the week to Nov. 8.

ANZ analysts said the prospects for U.S. crude exports had turned bleak after shipping rates jumped last month, causing inventories to stay above both last year’s level and the five-year average.

The American Petroleum Institute (API) is scheduled to release its data for the latest week at 4:30 p.m. EST (2130 GMT) on Wednesday, while the weekly report from the U.S. Energy Information Administration (EIA) is due at 11:00 a.m. EST on Thursday.

Separately, the 590,000 barrel-per-day Keystone oil pipeline that transports Canadian heavy crude to the United States has restarted operations following an oil spill two weeks ago, a U.S. regulator said on Tuesday.

Traders are now eyeing next month’s meeting between the OPEC and Russia to determine if the group would deepen output cuts to prop up prices.

“We believe the production curbs could be extended beyond Q1 2020, although deeper cuts are unlikely,” ANZ analysts said.

(Reuters/NAN)

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Britain plans to raise minimum national living wage backed by review

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Britain’s plan to raise the minimum wage to two-thirds of median earnings, taking it to 10.50 pounds (13.58 dollars) an hour, was endorsed by an independent review on Monday that found setting a floor on pay had a negligible effect on job creation.

Companies are now likely to see wage costs rise after December’s snap national election whatever the outcome.

Conservative Finance Minister Sajid Javid said in September he would increase the National Living Wage (NLW) to the new target by 2024, provided economic conditions allowed, and expand its reach to all workers over the age of 21, down from 25 now.

The opposition Labour Party said it would raise the minimum wage to 10 pounds (12.93 dollars) an hour immediately if it wins power.

An independent review commissioned by the government from economics professor Arindrajit Dube of the University of Massachusetts Amherst examined the impact of minimum wages in Germany, the United States, Britain and other countries.

“Based on the overall evidence – with a special emphasis on the recent, high quality, evaluations of the NLW and other more ambitious policies internationally – my report concludes that there is room for exploring a higher NLW in the UK up to two-thirds of the median wage,” he said.

“It will also be important to empirically evaluate and recalibrate any such ambitious policy based on new evidence down the road.”

Javid said, “The evidence is clear that our approach is the right one.”

But Labour said Javid’s pledge “was an insult to our hard working people”.

“It’s a derisory offer which people will have to wait years for,” Labour’s finance spokesman John McDonnell said.

“Labour will immediately introduce a real living wage of 10 pounds an hour for everyone 16 and over, outstripping every publicity stunt figure the Tories invent.”

(Reuters/NAN)

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