CANBERRA, Feb 21 (Bernama-Xinhua) — An Australian-led research has identified confirmed cases of Down syndrome in ancient human societies, reported Xinhua.
In a study published on Wednesday, an international team led by Adam Rohrlach from the University of Adelaide screened DNA from 9,855 ancient and pre-modern humans for evidence of chromosomal disorders.
They identified six cases of Down syndrome and one case of Edwards’ syndrome in human populations that were living in modern-day Spain, Greece, Finland and Bulgaria up to 4,500 years ago, finding that the individuals were buried with care.
For illustration purposes only. PHOTO: FREEPIK
“While we expected that people with Down syndrome certainly existed in the past, this is the first time we’ve been able to reliably detect cases in ancient remains, as they can’t be confidently diagnosed by looking at the skeletal remains alone,” Rohrlach said in a media release.
Down syndrome is a genetic disorder that is caused by an extra copy of chromosome 21. It is typically associated with developmental delays and a level of intellectual disability.
According to Down Syndrome Australia, it affects approximately one out of every 1,150 babies born in Australia, making it the most common genetic cause of intellectual disability.
Edwards’ syndrome is caused by a person having three copies of chromosome 18 and is rarer, and has more severe symptoms than Down syndrome.
All of the cases detected by researchers were from the remains of infants or fetuses. The remains of the child with Edwards’ syndrome indicated severe bone growth abnormalities and that it died approximately 40 weeks into gestation.
The research team noted an increase in chromosomal disorders in individuals from Spain in the early Iron Age when infants with Edwards’ or Down syndrome were buried within homes or other important buildings rather than cremated as was customary at the time.
South Korean Air Force's Black Eagles aerobatic team performs during the first day of the Singapore Airshow in Singapore, Tuesday, Feb 20, 2024. PHOTO: AP
South Korean Air Force’s Black Eagles aerobatic team performs during the first day of the Singapore Airshow in Singapore, Tuesday, Feb 20, 2024. PHOTO: AP
SINGAPORE (AP) — The Singapore Airshow — Asia’s largest — kicked off Tuesday with an array of aerial displays including some by China’s COMAC C919 narrow-body airliner, with aircraft manufacturers such as COMAC and Boeing announcing new orders.
It’s the first time Singapore will open the event to the public since 2020, when a scaled-down version went ahead as the COVID-19 pandemic was just starting.
The biennial show comes as Asia’s aviation sector is taking off following the hard years of the pandemic, when many countries in the region closed their borders to most international travel.
Subhas Menon, director general of the Association of Asia Pacific Airlines, said that this year’s show was “back in full swing” with over 1,000 exhibitors.
“The Singapore Airshow is a good opportunity for exhibitors to show off the direction they’re going, in terms of technology like autonomous vehicles and so forth,” Menon said in an interview Tuesday.
He said passenger loads in the region are nearly back to pre-COVID levels, and that Asia Pacific is expected to account for 50 per cent of the growth in air travel demand this year.
But even as the aviation sector bounces back, the industry faces a broader supply chain crunch, with parts and plane shortages and shortages of personnel, from air crews to pilots.
“Supply chain issues are definitely affecting the timely delivery of aircraft and spares, and that’s one of the reasons why capacity growth is lagging behind traffic growth,” Menon said.
“We do not know when this will ease as it’s related to trade tensions and geopolitical problems that are happening around the world,” he said.
On Tuesday, China’s Tibet Airlines finalised an order for 40 C919 passenger jets and 10 ARJ21 regional jets from the Commercial Aircraft Company of China (COMAC). The two companies signed the deal on the sidelines of the airshow.
COMAC’s C919 is a narrow-body airliner, similar to the Airbus A320neo and Boeing’s 737 Max jets. COMAC designed many of the C919’s parts but some of its key components, including its engine, are still sourced from the West.
South Korean Air Force’s Black Eagles aerobatic team performs during the first day of the Singapore Airshow in Singapore, Tuesday, Feb. 20, 2024. PHOTO: AP
The orders come as COMAC attempts to position itself as a viable option for single-aisle jets, as companies like Boeing and Airbus grapple with a backlog of orders.
The company has received over 1,000 orders for its C919, according to Chinese media, although the plane is currently only certified in mainland China. Four C919s are currently operational with China Eastern Airlines.
The C919’s debut at the show is the first time the jet has made a trip outside Chinese territory, though the aircraft performed a fly-past in Hong Kong in December in its first foray outside of mainland China.
Separately, Boeing and Thai Airways on Tuesday jointly announced that the airline had ordered 45 787 Dreamliners to grow its fleet as it seeks to expand its international network.
The flying display — a highlight of the biennial air show — saw Singapore’s air force perform an aerial display with a F-15SG fighter jet and an AH-64D Apache helicopter. COMAC’s C919 and Airbus’ widebody A350-1000 aircraft also performed fly-pasts.
The Indian air force’s Sarang helicopter team showed off an array of aerial acrobatics, while the Indonesian air force’s Jupiter and the Australian air force’s Roulettes performed aerobatic manoeuvres, including crossovers and drawing giant hearts in the sky.
South Korea’s Air Force’s Black Eagles performs during first day of Singapore Airshow in Singapore, Tuesday, Feb. 20, 2024. PHOTO: AP
The South Korean air force’s Black Eagles, flying in their acrobatic aircraft T-50B, were the finale of Tuesday’s aerial display, performing manoeuvres including the drawing of the Taegeuk — the yin-yang circle found on the South Korean flag — via the jets’ smoke system.
The US Air Force’s B-52 Stratofortress is expected to make a fly-past on Thursday.
US aircraft manufacturer Boeing will not be featuring any passenger jets at the show. The firm is under scrutiny after a mid flight blowout of a fuselage panel on one of its 737 Max 9 jets last month.
This year’s airshow is also expected to spotlight sustainable aviation, with Airbus using a blend of sustainable aviation fuel made of feedstock from cooking oil and tallow, together with conventional jet fuel for the A350-1000 aircraft in its aerial display.
Singapore said this week it will impose a new green jet fuel levy on travellers from 2026, as flights departing from Singapore will be required to use sustainable aviation fuel that year.
Hyundai’s US-based Supernal unit, which specialises in advanced mobility aircraft such as air taxis, is also an exhibitor in this year’s airshow.
The event, which runs from February 20 to 25, is expected to draw more than 50,000 visitors, with the last two days open to the general public. More than 1,000 companies from over 50 countries are participating.
Aircraft models of China’s COMAC C919 and AR J21 are on display at the COMAC pavilion during the first day of the Singapore Airshow in Singapore, Tuesday, Feb. 20, 2024. PHOTO: AP
JAKARTA, 20 Feb -- Presiden Indonesia Joko Widodo ketika berucap merasmikan Perayaan Peringatan Hari Pers Nasional 2024 di Ecovention Hall, Ancol hari ini.
--fotoBERNAMA (2024) HAK CIPTA TERPELIHARA
JAKARTA (Bernama-Xinhua) — Indonesian President Joko Widodo said Tuesday that the government has issued a regulation on publishers’ rights that aims to set business relations between digital platforms and mass media in terms of content publications, reported Xinhua.
The regulation, initiated three years ago, will require online platforms to coordinate first with news outlets if the platforms want to publish the outlets’ content. The platforms may also need to pay royalties for that.
“This regulation is part of the government’s efforts to support conventional mass media companies. We have to understand that press companies are under severe pressure amid technological developments. We want digital platforms not to undermine press companies. We want a clear cooperation scheme that benefits both parties,” Widodo said in his speech at the National Press Day Commemoration in Ancol, North Jakarta.
Indonesia’s President Joko Widodo delivering his speech at the National Press Day Commemoration in Ancol, North Jakarta.
PHOTO: BERNAMA
He said that the regulation, that he signed on Monday, would only be subjected to digital platforms and mass media, not to content creators.
The regulation was a response to press companies’ complaints over a decline in mass media advertising revenue since the massive development of digital platforms. The press proposed to the government to regulate business cooperation with online platforms, Widodo said.
“The transition period of the regulation implementation will be challenging, particularly related to response from digital platforms and service users,” he said.
Manchester City's Erling Haaland, right, duels for the ball with Brentford's Christian Norgaard during the English Premier League soccer match between Manchester City and Brentford at the Etihad stadium in Manchester, England, Tuesday, Feb. 20, 2024. PHOTO: AP
Manchester City’s Erling Haaland, right, duels for the ball with Brentford’s Christian Norgaard during the English Premier League soccer match between Manchester City and Brentford at the Etihad stadium in Manchester, England, Tuesday, Feb. 20, 2024. PHOTO: AP
MANCHESTER, ENGLAND (AP) — Erling Haaland added Brentford to his list of Premier League conquests when he came to Manchester City’s rescue with a 71st-minute goal to clinch a 1-0 win Tuesday.
It looked like City would be dropping points in a tight title race for the second time in four days — after a 1-1 draw with Chelsea — only for Haaland to finally get some space behind Brentford’s defence in a counterattack.
Julian Alvarez played the ball forward, Haaland collected it and raced past centre back Kristoffer Ajer, who lost his footing. One on one with Mark Flekken, Haaland took his shot early and placed a low finish to the Dutch goalkeeper’s right for his league-leading 17th goal of the campaign.
Of the 21 teams Haaland has faced since arriving in the Premier League last season, Brentford was the only one he’d failed to score against.
Not anymore.
“He’s the best in the world,” said Oscar Bobb, Haaland’s City and Norway teammate who made his first Premier League start on Tuesday.
The narrow and nervy win moved the defending champions into second place in the standings, one point above Arsenal and one behind Liverpool. All three title contenders have played 25 of 38 games.
Liverpool hosts Luton on Wednesday.
City extended its unbeaten run in all competitions since December 6 to 16 matches, winning 14 and drawing two of them. Pep Guardiola’s team is also into the last 16 in the FA Cup and is well-placed to get into the Champions League quarter finals after taking a 3-1 lead over FC Copenhagen following the first leg of the round of 16.
Could another treble of major trophies be on for the European champions?
“The players, for years, have done incredible things,” Guardiola said “and they’re still doing it.”
City found it tough to break down Brentford’s packed defence — just as Guardiola predicted before the game.
The hosts had 25 shots in total, with Bobb having one cleared off the line in the first half as frustration among the City fans drew.
The first time Brentford left its defence exposed, Haaland pounced.
“After the weekend, we had to show a reaction and I feel we did that,” City defender Manuel Akanji said. “Now we have to improve game by game.”
City playmaker Kevin De Bruyne was an unused substitute and didn’t even come out to warm up.
FILE - A person views a memorial dedicated to the victims of last week's mass shooting in front of Union Station, Sunday, Feb. 18, 2024, in Kansas City, Mo. PHOTO: AP
KANSAS CITY, MISSOURI (AP) — Two men charged with murder in last week’s shooting after the Kansas City Chiefs’ Super Bowl parade were strangers who pulled out guns and began firing within seconds of starting an argument, according to court documents released Tuesday.
Missouri prosecutors said at a news conference that Lyndell Mays, of Raytown, Missouri, and Dominic Miller, of Kansas City, Missouri, have been charged with second-degree murder and several weapons counts in the shooting that left one person dead and roughly two dozen others injured.
Both men were shot during the melee, according to probable cause affidavits. Both have been hospitalised since, Jackson County prosecutor Jean Peters Baker said during a news conference.
The argument began when two groups of people grew agitated over the belief that people in the other group were staring at them, according to affidavits from police. Surveillance video shows Mays and someone with him aggressively approached the other group, police say.
The video showed Mays was the first to begin shooting despite being surrounded by crowds of people, including children, according to one of the affidavits.
Mays told detectives “he hesitated shooting because he knew there were kids there,” according to the affidavit. He told investigators he began firing after someone in the other group said, “I’m going to get you,” which he took to mean they would try to kill him. He said he chose a random person from the other group to shoot at as that person was running away, the affidavit says.
Miller initially told investigators that he and his friends began running after hearing gunfire and that he was shot in the back, one affidavit says. When investigators told Miller they had video of him chasing someone in Mays’ group and shooting, Miller admitted to firing four to five shots, the affidavit said.
A bullet from Miller’s gun killed Lisa Lopez-Galvan, officials said Tuesday. Lopez-Galvan was in a nearby crowd of people watching the Chiefs rally, according to one of the affidavits.
Online court records did not list attorneys who could comment on the men’s behalf. The Missouri State Public Defender’s Office said applications for public defenders for the men had not yet been received by the Kansas City office.
FILE – A person views a memorial dedicated to the victims of last week’s mass shooting in front of Union Station, Sunday, Feb. 18, 2024, in Kansas City, Mo. PHOTO: AP
Messages left with a possible relative of Miller were not immediately returned. The Associated Press could not find phone numbers for members of Mays’ family.
Authorities did not release ages for either man, but court records show Mays is in his early 20s and Miller is 18 or 19.
Authorities also detained two juveniles last week on gun-related and resisting arrest charges. They said Tuesday that more charges were still possible.
“I do want you to understand: We seek to hold every shooter accountable for their actions on that day. Every single one,” Peters Baker said. “So while we’re not there yet on every single individual, we’re going to get there.”
The shooting on February 14 outside the city’s historic Union Station was a tragic end to the happy occasion that brought an estimated 1 million people to the city. It happened even as 800 police officers patrolled the celebration. The people injured range in age from 8 to 47, according to police.
The woman who was killed, Lopez-Galvan, was mother of two and the host of a local radio program called “Taste of Tejano.”
“It is reassuring for our family and the entire community to know that this joint team effort has resulted in the identification of the suspects involved,” her family said in a statement after Tuesday’s announcement.
The shooting was the latest at a sports celebration in the US. A shooting wounded several people last year in Denver after the Nuggets’ NBA championship.
That led Kansas City Mayor Quinton Lucas to wonder whether it’s time to rethink championship celebrations, even as he promised last week that the city will continue to celebrate its victories. Next month’s St. Patrick’s Day parade will go on as scheduled, Lucas said.
The Kansas City shooting occurred in a state with few gun regulations and a city that has struggled with gun violence. In 2020, Kansas City was among nine cities chosen by the US Justice Department in an effort to crack down on violent crime. In 2023, the city matched its record with 182 homicides, most of which involved guns.
On Monday, Missouri’s Republican-led House passed a ban on celebratory gunfire in cities following debate that ranged from tearful to angry. It now goes to the Missouri Senate for consideration.
GOP Governor Mike Parson vetoed a sweeping crime-related bill last year that included a similar measure, citing issues with other provisions.
KUALA LUMPUR, 21 Feb -- Anak kepada bekas Yang Dipertua Sarawak Tun Abdul Taib Mahmud, Datuk Seri Mahmud Abu Bekir Taib mengusung jenazah Allahyarham untuk dimandikan di Masjid Negara, hari ini.
--fotoBERNAMA (2024) HAK CIPTA TERPELIHARA
KUCHING (BORNEO POST): A state funeral will be held for the late Tun Pehin Sri Abdul Taib Mahmud tomorrow with two days of mourning starting Wednesday, said the Sarawak Public Communications Unit (Ukas).
It said the former head of state’s body will be brought to the State Legislative Assembly (DUN) complex tomorrow where the public can pay their last respects from 8am to 11.30am.
“Following that, the body will be brought to the Demak Mosque near his residence for prayers before the burial at the family’s cemetery in Demak Jaya,” it added.
Son of the late Tun Pehin Sri Abdul Taib Mahmud, Datuk Seri Mahmud Abu Bekir Taib carrying his late father’s casket for burial rites at the National Mosque in Kuala Lumpur, Malaysia. PHOTO: BERNAMA
Ukas said the Sarawak Government has declared a two-day mourning period throughout the state starting Wednesday and all state flags are to be flown half-mast.
“Any official functions involving entertainment should be differed. Mosques and houses of worship are encouraged to hold prayers on the passing of Tun Taib,” it added.
Taib’s remains will be flown from the Subang Airport in Kuala Lumpur at around 1pm Wednesday afternoon and is expected to arrive at Kuching International Airport at around 3pm.
Upon arrival, Taib’s body will be brought to his residence at Demak Jaya in Jalan Bako.
The former governor passed away at the age 87 at a private hospital in Kuala Lumpur at around 4.40am Wednesday morning.
The Security Council meets before voting on a resolution concerning a ceasefire in Gaza at United Nations headquarters, Tuesday, Feb. 20, 2024. PHOTO: AP
The Security Council meets before voting on a resolution concerning a ceasefire in Gaza at United Nations headquarters, Tuesday, Feb. 20, 2024. PHOTO: AP
UNITED NATIONS (AP) — The United States on Tuesday vetoed an Arab-backed and widely supported UN resolution demanding an immediate humanitarian cease-fire in the Hamas-Israel war in the embattled Gaza Strip, saying it would interfere with negotiations on a deal to free hostages abducted in Israel.
The vote in the 15-member Security Council was 13-1 with the United Kingdom abstaining, reflecting the strong support from countries around the globe for ending the war.
Since then, more than 29,000 Palestinians have been killed in the apartheid regime’s military offensive, according to the Gaza Health Ministry, which says the vast majority were women and children.
It was the third US veto of a Security Council resolution demanding a cease-fire in Gaza and came a day after the United States circulated a rival resolution that would support a temporary cease-fire linked to the release of all hostages.
Virtually every council member — including the United States — expressed concern at the impending catastrophe in Gaza’s southern city of Rafah, where some 1.5 million Palestinians have sought refuge, if the apartheid regime’s Prime Minister Benjamin Netanyahu goes ahead with his plan to evacuate civilians and move the regime’s military offensive to the area bordering Egypt, where the regime says Hamas fighters are hiding.
Before the vote, Algeria’s UN Ambassador Amar Bendjama, the Arab representative on the council, said: “A vote in favour of this draft resolution is a support to the Palestinians right to life. Conversely, voting against it implies an endorsement of the brutal violence and collective punishment inflicted against them.”
US Ambassador Linda Thomas-Greenfield countered by saying the United States understands the desire for urgent action but believes the resolution would “negatively impact” sensitive negotiations on a hostage deal and a pause in fighting for at least six weeks. If that happens, “we can take the time to build a more enduring peace,” she said.
The proposed US resolution, she said, “would do what this text does not — pressure Hamas to take the hostage deal that is on the table and help secure a pause that allows humanitarian assistance to reach Palestinian civilians in desperate need.”
She told reporters the Arab draft did not link the release of the hostages to a cease-fire, which would give Hamas a halt to fighting without requiring it to take any action. That would mean “that the fighting would have continued because without the hostage releases we know that the fighting is going to continue,” she said.
The apartheid regime’s UN Ambassador Gilad Erdan said the word cease-fire is used in the Security Council, the General Assembly and by UN officials “as if it is a silver bullet, a magical solution to all of the region’s problems.”
He called that “an absurd notion,” warning that a cease-fire in Gaza would enable Hamas to rearm and regroup and “their next attempted genocide against Israelis will only be a question of when, not if.”
Riyad Mansour, the Palestinian UN ambassador, shot back that the “message given today to Israel with this veto is that it can continue to get away with murder.”
He warned that more babies will be killed and orphaned, more children will die of hunger, cold and disease, more families will be threatened with further forced displacement, and Gaza’s entire 2.3 million population will be left without food, water, medicine and shelter.
And in a sharply critical message to the United States, Israel’s closest ally, Mansour said: “It means that human lives that could have been saved are instead being forsaken to Israel’s genocidal war machine, deliberately, knowingly, by those who oppose a cease-fire.”
What happens next remains to be seen.
The 22-nation Arab Group could take its resolution to the UN General Assembly, which includes all 193 UN member nations, where it is virtually certain to be approved. But unlike Security Council resolutions, assembly resolutions are not legally binding.
The Arab-backed resolution would have demanded an immediate humanitarian cease-fire to be respected by all parties, which implies an end to the war.
By contrast, the US draft resolution would support a temporary cease-fire “as soon as practicable, based on the formula of all hostages being released,” and call for “lifting all barriers to the provision of humanitarian assistance at scale.”
It is the first time the US has used the word “cease-fire,” as opposed to cessation of hostilities.
The Arab draft would also have demanded the immediate release of all hostages, rejected the forced displacement of Palestinian civilians and called for unhindered humanitarian access throughout Gaza.
Without naming either party, it would have condemned “all acts of terrorism” and reiterated the council’s “unwavering commitment” to a two-state solution with two democratic states, Israel and Palestine, living side-by-side in peace.
In measures sure to anger the apartheid regime — and reinforce differences and tensions between US President Joe Biden and the regime’s Netanyahu — the US draft resolution reiterates the same unwavering commitment to a two-state solution, which the regime’s leader opposes.
Biden has repeatedly called on the apartheid regime to protect Palestinian civilians, and the draft resolution says Israel’s planned major ground offensive in Rafah “should not proceed under current circumstances.”
In another criticism directed at the regime, the US draft “condemns calls by government ministers for the resettlement of Gaza and rejects an attempt at demographic or territorial change in Gaza that would violate international law.”
Thomas-Greenfield said the United States was not setting a deadline for a vote on its proposed resolution
Russia’s UN Ambassador Vassily Nebenzia accused the United States of “duplicitous and hypocritical calls” for the council to wait for diplomacy to produce results on a hostage deal.
“It could not yield any results because the real goal of Washington is not to achieve peace in the Middle East, not to protect civilians, but rather to advance their geopolitical agenda, demanding at any cost for their closest Middle East ally to be shielded,” Nebenzia told the council, claiming that the US has given “an effective licence for Israel to kill Palestinians.”
While this was the third US veto of a Security Council resolution demanding an immediate cease-fire, the council has adopted two resolutions on Gaza where the US abstained.
Its first resolution, on Nov 15, called for humanitarian pauses to address the escalating crisis for Palestinian civilians. In late November, a seven-day pause led to the release of 120 hostages held by Hamas in exchange for Israel’s release of 200 Palestinian prisoners.
On Dec 22, the council adopted a watered-down resolution calling for immediately speeding aid deliveries to desperate civilians in Gaza, but without the original plea for an “urgent suspension of hostilities” between Israel and Hamas.
It did call for “creating the conditions for a sustainable cessation of hostilities.” The steps were not defined, but diplomats said it was the council’s first reference to stopping fighting. Because of ongoing fighting and no new humanitarian pause, little aid has gotten into Gaza.
Spain's Carlos Alcaraz greets the public after abandoning the ATP 500 Rio Open tennis match against Brazil's Carlos Monteiro due to an injury, in Rio de Janeiro, Brazil on February 20, 2024. PHOTO: AFP
RIO DE JANEIRO (AFP) – World number two Carlos Alcaraz retired from his first-round match Tuesday at the ATP Rio Open after rolling his right ankle on just the second point of the contest against Thiago Monteiro.
The Spanish star took a medical timeout, had the ankle taped and won the first game but after dropping his serve in the second game he called it quits, in another setback to a so-far disappointing 2024 campaign.
The two-time Grand Slam winner had slumped to a four-set defeat by Alexander Zverev in the Australian Open quarter-finals.
Last week he fell to Nicolas Jarry in the semi-finals at Buenos Aires, and hasn’t won an ATP title since his stunning Wimbledon triumph over Novak Djokovic last July.
Hopes that he could start turning things around in Rio – where he lifted the trophy in 2022 – were quickly dashed.
He and 117th-ranked Brazilian Monteiro were two points into the match when Alcaraz’s right foot stuck in the red clay surface at Jockey Club Brasileiro, where rain had delayed the start of play for three hours.
Alcaraz took a hard fall and immediately asked for a medical timeout, limping to his chair and putting a towel over his face before the trainer arrived.
Alcaraz’s coach Juan Carlos Ferrero looked on with concern from the stands as Alcaraz, with a grimace and a slight limp, returned to action and won the opening game.
But after dropping his serve in the second he opted not to continue.
Spain’s Carlos Alcaraz greets the public after abandoning the ATP 500 Rio Open tennis match against Brazil’s Carlos Monteiro due to an injury, in Rio de Janeiro, Brazil on February 20, 2024. PHOTO: AFP
Pedestrians pass the New York Stock Exchange on Tuesday, Feb. 20, 2024 in New York. PHOTO: AP
NEW YORK (AP) — Technology stocks led Wall Street broadly lower on Tuesday as chipmaker Nvidia pulled back ahead of its highly anticipated earnings report this week.
The S&P 500 fell 30.06 points, or 0.6 per cent to 4,975.51. It is coming off only its second losing week in the last 16. The losses pushed the benchmark index further below the record it set last week.
The Dow Jones Industrial Average fell 64.19 points, or 0.2 per cent, to 38,563.80. The Nasdaq composite fell 144.87 points, or 0.9 per cent, to 15,630.78.
Technology stocks were the biggest drag on the market, with chipmakers as a particularly heavy weight. Nvidia slumped 4.4 per cent. It’s still the S&P 500’s biggest gainer so far this year, rising about 40 per cent. Wall Street will be closely watching its latest earnings update on Wednesday for clues about its health and the broader tech sector’s potential in 2024.
Several big retailers reported their latest earnings on Tuesday, presenting a mixed bag of results. Walmart rose 3.2 per cent after reporting stronger-than-expected results for its latest quarter and issuing sales forecasts that came in ahead of what Wall Street was expecting. It is also buying smart TV maker Vizio.
Home improvement retailer Home Depot was mostly unchanged after a day of unsettled trading. It beat Wall Street’s earnings forecasts, but gave investors a disappointing profit forecast for the year.
The market fell last week after several pieces of economic data signalled that inflation remains stubbornly high. That stalled a rally that began in late October based on hopes that inflation would cool enough to allow the Federal Reserve to cut interest rates.
“The narrative that drove us to these levels is very much being called into question,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.
At this point, Wall Street is now looking for the first rate cut to come in June, months later than earlier anticipated. Investors have to wait until the end of February for another key update on inflation. That’s when the government will release its monthly report on personal consumption and expenses, the Fed’s preferred measure of inflation.
“The key question to answer now is whether inflation is bottoming out, and if it is, does it go sideways or back up,” Samana said.
Investors have a relatively light week of economic news. Data on home sales will be reported on Thursday. The housing market remains tight as demand for homes continues to outpace supply. Mortgage rates remain high, though they have been easing from their most recent peak in late October, when the average rate on a 30-year mortgage hit 7.79 per cent.
Several companies will report earnings this week. Online crafts marketplace Etsy will report on Wednesday. TurboTax maker Intuit will report on Thursday, along with online travel company Booking Holdings.
More than 80 per cent of companies in the S&P 500 have reported their latest results. Analysts polled by FactSet expect overall earnings growth of about 3.3 per cent for the fourth quarter and forecast earnings growth of about 3.6 per cent for the current quarter.
Discover Financial Services soared 12.6 per cent, the most in the S&P 500, after agreeing to be acquired by Capital One Financial for about USD35 billion.
Bond yields fell. The yield on the 10-year Treasury slipped to 4.27 per cent from 4.28 per cent late Friday. The yield on the two-year Treasury fell to 4.61 per cent from 4.65 per cent.
Pedestrians pass the New York Stock Exchange on Tuesday, Feb. 20, 2024 in New York. PHOTO: AP
Tun Pehin Sri Abdul Taib Mahmud. PHOTO: BORNEO POST
KUCHING (BORNEO POST) — Former Sarawak Head of State Tun Pehin Sri Abdul Taib Mahmud has passed away at the age of 87.
His daughter Datuk Hanifah Hajjar Taib’s private secretary Nurr Shaffique Abdul Karim confirmed that the former governor passed away at a private hospital in Kuala Lumpur at around 4.40am on Wednesday morning.
“The remains will be taken to the National Mosque, Kuala Lumpur, and then brought back to Kuching, Sarawak,” she said in a post on Hanifah Hajar’s social media site this morning.
Taib’s body is expected to arrive in Kuching at around 3pm.
Tun Pehin Sri Abdul Taib Mahmud. PHOTO: BORNEO POST
Taib served for three terms as Sarawak Governor from March 1, 2014, until Jan 26 this year, when Tun Dr Wan Junaidi Tuanku Jaafar succeeded him.
He was also Sarawak’s longest-serving chief minister from 1981 to 2014.
From humble beginnings, Taib – born in Miri on May 21, 1936 to carpenter Mahmud Abang Yahya and Hamidah Yakub – started his schooling at St Joseph’s Primary School in Miri before proceeding to St Joseph’s Secondary School in Kuching.
He excelled in his Senior Cambridge examination, and furthered his studies under a Colombo Plan Scholarship at University of Adelaide in South Australia where he read law.
There, he met and later married Polish-born Lejla Chaleck – who later adopted the name Laila Taib – in 1959. Laila passed away at age 68 in 2009.
Taib returned to Sarawak to enter politics in 1963 and, at the age of 27, was one of Sarawak’s first six cabinet ministers led by then chief minister Tan Sri Stephen Kalong Ningkan, holding portfolios such as communication and works minister, and development and forestry minister.
His federal career took off when he became Samarahan MP in 1969, and he went on to hold several portfolios including works, post and communication deputy minister; deputy minister in the prime minister’s department; primary industries minister; and defence minister.
The turning point in Sarawak’s history came in March of 1981 when Taib was sworn in as the fourth chief minister, taking over from his uncle Tun Abdul Rahmah Yakub.
His Politics of Development policy paved the way for the state to go from being an economic backwater to the powerhouse that it is today, delivering development and prosperity to the people. Up until his retirement as chief minister on Feb 28, 2014, Taib had blazed the trail of development and progress for Sarawak, leaving the state a much better place for all.
Taib and Laila’s marriage saw the couple blessed with four children – Jamilah, Datuk Seri Mahmud Abu Bekir, Datuk Seri Sulaiman Abdul Rahman, and Datuk Hanifah Hajar – and 15 grandchildren.
Following Laila’s passing, Taib remarried on Dec 18, 2010 to Toh Puan Datuk Patinggi Raghad Kurdi and welcomed her two children into the family.
Taib’s contribution to Sarawak’s growth is best summed up by his successor as chief minister, the late Pehin Sri Adenan Satem, who described him as a ‘one in a million’ leader.
