NEW YORK — Federal law enforcement agents raided the downtown New York home of Polymarket CEO Shayne Coplan on Wednesday, seizing his phone and electronics, the company confirmed. The early morning raid of Coplan's SoHo apartment followed last week's presidential election, in which bettors on Polymarket, an offshore, crypto-fueled election gambling website, had for weeks put Donald Trump's odds drastically higher than those of Vice President Kamala Harris, in sharp divergence from opinion polls. Coplan, Polymarket's 26-year-old founder, was roused from his bed at 6 a.m. by FBI agents demanding he give them his electronic devices. The DOJ is investigating Polymarket for allegedly allowing U.S.-based users to bet on the site, Bloomberg News reported Wednesday evening. Polymarket declined to comment on those allegations, but a spokesperson said the FBI raid was "obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election." The company told Reuters that Coplan had not been arrested or taken into custody. The FBI declined to comment. The Department of Justice and the White House did not respond to requests for comment on the raid. In the run-up to the presidential election, the site gained widespread attention for the way it placed Trump's odds high above those of Harris, when opinion polls had for months shown the race in a dead heat. Polymarket, which does not allow trading in the U.S., also gained scrutiny after a mystery French trader, known as the Polymarket whale, made large bets on Trump winning the election. The trader's huge wagers came in tandem with a dramatic rise in Trump's chances on the exchanges. He walked away with more than $46 million in profit. Last week, France's gambling regulator said it was examining whether Polymarket complies with French laws.

brussels — As China and Peru prepare to sign an updated free-trade agreement at this year’s Asia-Pacific Economic Cooperation summit, Chinese President Xi Jinping is set to inaugurate a Chinese-financed mega port in Peru, known as Chancay, while attending the APEC meetings. China promotes the Chancay port on Latin America's Pacific coast as a key hub to boost trade connectivity with South America. The plan includes using infrastructure projects to link Chancay, reducing shipping times for goods. A senior U.S. official downplayed the port’s implications for the United States, stating that it does not complicate U.S. relationships in the region and that it is natural for Latin American countries to have diverse trade and investment partnerships beyond the U.S. Matt Murray, the U.S. senior official for APEC, spoke to VOA on Wednesday from Lima, Peru, outlining the U.S. agenda for this year’s APEC meetings. This interview has been edited for brevity and clarity. VOA: Could you unpack for us the agenda of APEC 2024? Matt Murray, U.S. senior official for APEC: APEC, as you know, is a multilateral forum with 21 member economies that account for half of global trade and 60% of global GDP. Each year, APEC is hosted by a different member economy. The United States was delighted to host in 2023, and this year, the forum has moved to Peru for 2024. APEC always focuses on three key areas: trade and investment, innovation and digitalization, and sustainable, strong, secure, inclusive and balanced growth. Peru has continued these priorities by bringing APEC economies together to discuss these issues and make progress on specific initiatives, including a renewed focus on sustainability. This year, during the energy ministerial meeting in August, Peru launched the Just Energy Transition Initiative within APEC. They have also supported new programming, focused on curbing food loss and waste in the region, which is crucial for the sustainability of our agricultural sectors. VOA: Chinese President Xi Jinping will sign an updated free-trade agreement with Peru and inaugurate a new mega port north of Lima, called Chancay. Can you talk about the implications for the United States? Murray: I think we expect countries, including APEC economies like Peru, to engage in trade and investment relationships with a variety of partners, including the People’s Republic of China. As President Xi arrives in Lima, attention will be given to areas where China has invested in Peru, as well as the trade and investment ties between the two countries. However, from the U.S. perspective, our primary focus is on our own relationship with Peru and with Latin America, particularly in terms of trade, investment and broader engagement. I don’t necessarily see this as complicating our relationship in the region. We view it as a natural part of business that Latin American countries will have diverse trade and investment partners. VOA: Given President-elect Donald Trump's stance on tariffs and the potential withdrawal from the Indo-Pacific Economic Framework, and with several IPEF members also part of APEC, how might the U.S. reassure global leaders about its commitment to deepening economic ties with other nations? Murray: Since 1989, both Democratic and Republican U.S. administrations have engaged with APEC. We view it as an opportunity to engage a wide range of partners in a consensus-based, nonbinding way. One of the key ways we reassure leaders is simply by showing up. This week, we’re showing up in a big way. The best way to demonstrate our commitment to deepening economic ties with the region is by having the president, secretary of state and U.S. trade representative all come to Lima to participate in APEC Economic Leaders Week. That, I think, demonstrates leadership and our willingness to continue engaging. VOA: What does the future look like for APEP, or Americas Partnership for Economic Prosperity, an economic initiative for Latin America, and IPEF? Murray: I don't think I can speculate on the future of these particular arrangements. As you know, this is part of our democracy. We have administrations in power that transition to new ones, which may make different or sometimes similar decisions. There are, in fact, areas where we've seen continuity from the Obama administration to the Trump administration and then to the Biden administration, and there may continue to be such continuity. So, I don’t think it's possible to speculate on any one particular issue.

White House — In what will likely be his farewell appearance on the world stage, President Joe Biden faces a daunting question: what to tell world leaders wondering about potential changes in U.S. policies when President-elect Donald Trump returns to the White House with his America First agenda. Biden is set to depart for Peru and Brazil Thursday for two major economic summits. Biden is scheduled to spend Friday and Saturday in Lima with leaders of the Asia-Pacific Economic Cooperation forum, made up of 21 member economies that promote free trade in the region.  He will be in Rio de Janeiro on Monday and Tuesday to meet with leaders of the world's 20 largest economies at the Group of 20 summit. On the way to Rio from Lima, Biden will make a brief stop at Manaus for a climate-focused engagement in Brazil's state of Amazonas. In his meetings, Biden must face allies and partners who four years ago may have been skeptical about his "America is back" message and the durability of U.S. global commitments. These leaders saw Trump, during his first term, act to withdraw the U.S. from the Paris Climate Accord and threaten to pull out of NATO. Uncertainties about future U.S. policy will complicate efforts to reach an agenda on issues of global concern such as trade, poverty and debt alleviation, climate change, sustainable development, and green energy. "There will be a lot of combination of lamenting, speculation, guessing about what we'll see coming first in terms of policies out of the campaign and how countries are best able to position themselves," said Victor Cha, president of the Geopolitics and Foreign Policy Department at the Center for Strategic and International Studies. 'America's allies are vital' To these leaders, Biden's message is that "America's allies are vital to America's national security," said national security adviser Jake Sullivan, who previewed the trip to reporters on Wednesday. "They make us stronger. They multiply our capability. They take a burden off of our shoulders. They contribute to our common causes," Sullivan said. He underscored that Biden would be attending the APEC summit when U.S. alliances in the region were at an "all-time high," with bolstered ties with Japan, Korea, Australia and the Philippines. Biden will hold a trilateral meeting on the sidelines of APEC with President Yoon Suk Yeol of South Korea and Prime Minister Shigeru Ishiba of Japan to "discuss the importance of institutionalizing" the progress made so that it carries forward through the transition to the new administration, Sullivan said. Whatever the questions surrounding the next administration, Biden will emphasize his faith in the "ideals of American engagement around the world," said Josh Lipsky, senior director of the Atlantic Council's GeoEconomics Center. "He believes it is in the best interest of both America and the world for it to continue," Lipsky said. "And not one election or one president can undercut that, from his perspective." Biden's agenda In Rio de Janeiro, Biden will "demonstrate the strong value proposition of the United States to developing countries and lead the G20 to work together to address shared global challenges," the White House said. He is expected to hold bilateral meetings with summit hosts Peruvian President Dina Boluarte and Brazilian President Luiz Inácio Lula da Silva. In Lima, he is set to support Peru's initiative to expand APEC's economic inclusion efforts to empower workers in the informal economy, said Matt Murray, U.S. senior official for APEC. In Rio, he will focus on workers' rights and clean economic growth and attend the launch of the Global Alliance Against Hunger and Poverty, Lula's initiative aimed at accelerating global efforts to reduce hunger and poverty by 2030. In Manaus, Biden will make history as the first sitting U.S. president to visit the Brazilian Amazon. There, he will deliver remarks on climate conservation and engage Indigenous leaders working to preserve the rainforest. Symbolic and short-lived Many of Biden's efforts will be mostly symbolic and short-lived, as the incoming U.S. administration could bring dramatically different priorities on global welfare programs and climate change. Analysts say that while the world has watched U.S. leadership swing from Republican to Democratic and back again in recent years, Chinese President Xi Jinping will seek to project an image of stability as he exerts his vision of China's increased role on the global stage. In Peru, Xi will inaugurate a $1.3 billion megaport, part of China's infrastructure investment program that has bought him influence in various parts of the world. Beijing has increased diplomatic engagement in the region, with Xi visiting 11 Latin American countries since becoming president, according to Chinese state news agency Xinhua. Summit hosts Peru and Brazil are set to honor him with state visits this month. A meeting between Biden and Xi, likely their last during Biden's term, is scheduled in Lima for Saturday. The meeting comes as Trump appoints ardent China critics in key foreign policy positions, moves that could lead to a more confrontational U.S. posture toward Beijing. Whatever the next administration decides, it's going to need to find ways to manage the "tough, complicated relationship" between the U.S. and China, a senior official said when asked what Biden might tell Xi to expect from the incoming administration.

Al-Nassr defender, Aymeric Laporte has commented on reported interest from Real Madrid for his signature. The former Manchester City star has recently been linked with a move to Real Madrid next year. Speaking on the development, Laporte said he can’t ignore the Spanish LaLiga champions. According to him, it is nice to be linked with […]

Transfer: You can’t ignore them – Laporte on Real Madrid links

Makovsky called Trump's Defense Secretary selection of Pete Hegseth, a Fox News host and Army combat veteran, a "curious appointment."

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Concern is high that the transition of power in Washington will make it impossible to secure a deal over the next three months.

Borrell cited "serious concerns about possible breaches of international humanitarian law in Gaza" in a Wednesday letter.

1. India has the highest number of diabetic people in the world, even more than China: Report  The Economic Times
2. Why Lancet study on diabetes is a red flag: A quarter of diabetics globally are Indians  The Indian Express
3. 800 million diabetics worldwide and most aren't getting treatment, finds study  The Times of India
4. Indians account for quarter of world’s adult diabetes patients: Lancet study  Hindustan Times
5. Why have diabetes rates doubled over the past 30 years – and what can be done about it?  The Guardian

1. SENSEX rises over 100 points, NIFTY50 trades above 23,600; Eicher Motors climbs over 6%, Swiggy up 5%  Upstox
2. Stock Market LIVE Updates: Sensex, Nifty erase gains, trade flat; mid, samllcaps shine  Moneycontrol
3. Sensex Today | Stock Markets Live Update: Sensex, Nifty turn red after giving up opening gains, Eicher up 7%  CNBCTV18
4. Stock Market LIVE Updates: FMCG, Oil, financial stocks drag Sensex 200pts to 77,500; Nifty at 23,500  Business Standard
5. Eicher Motors leads Indian shares higher at the open  Mint

1. Republicans win 218 House of Representatives seats, completing party's sweep into power alongside Trump  Deccan Herald
2. U.S. Republicans complete power takeover with House majority  The Hindu
3. Republicans win control of House, cementing a GOP trifecta under Trump  Deccan Herald
4. After Senate Win, Republicans Retain House Majority; Trump Secures Clear Path To Enact His Policies  The Times of India

1. Lagcherla: KTR named in remand report  Deccan Chronicle
2. Vikarabad case: Former BRS MLA names KTR in confession  The Hindu
3. KTR involved in Vikarabad Collector’s attack, says Former BRS MLA  India Today
4. Video | Former KCR Party MLA Arrested For Attack On Telangana Officials  NDTV
5. ‘Arrest me’: KTR after being accused of conspiring to destabilise Congress govt  The News Minute

[Addis Standard] Addis Abeba -- As Somaliland reached a pivotal moment in its democratic journey, citizens are casting their votes today in an election anticipated not only for its outcome but for what it symbolizes. For a self-declared republic, albeit unrecognized internationally, Somaliland has managed to forge a unique and commendable path, consistently holding peaceful elections in a region often defined by turmoil. In today's election, Somalilanders showed their readiness to signal their desire for change, with Wadani, the

The baht is on course to slip below the key resistance level of 35 to the US dollar after depreciating sharply since government aide Kittiratt Na-Ranong was named the new Bank of Thailand board chairman, raising doubts over the central bank's autonomy, say analysts.

Italian President Sergio Mattarella told Elon Musk on Wednesday not to interfere in Italian affairs after the US billionaire said Rome judges blocking a government anti-immigration initiative should be sent packing. The highly unusual statement from the Italian head of state came against a backdrop of growing tension between the ruling coalition and the judiciary […]

Advanced Info Service (AIS) has strengthened its content portfolio by partnering with Max, a global streaming platform from Warner Bros Discovery, to offer exclusive streaming to home and mobile device users.

Once again, scientists issued a red alert by analyzing ongoing world’s weather and its impact on the climate. The year 2024 is on track to be the warmest year on record, contributed by an extended streak of high monthly global mean temperatures. According to the World Meteorological Organization (WMO)’s “State of the Climate 2024 Update” […]

[New Times] Achieving rapid private sector growth in Rwanda is unlikely without far-reaching reforms to economic policies, a new report released on November 13, by the World Bank has shown.

[Capital FM] Nairobi -- President William Ruto has nominated Gerald Nyaoma Arita as the second Deputy Governor of the Central Bank of Kenya (CBK), succeeding Sheila M'mbijiwe, who retired in June.

[Capital FM] Baku, Azerbaijan -- President William Ruto says Africa's natural resources and biodiversity place it in a unique position to lead global climate solutions, highlighting the continent's role beyond participation.

[AI London] French-manufactured military technology incorporated into armoured personnel carriers made by the United Arab Emirates is being used on the battlefield in Sudan in what likely constitutes a violation of the UN arms embargo on Darfur, Amnesty International said in a new investigation.

[Mozambique News Reports And Clippings] Body count now 50

[allAfrica] Margareth Mwakilasa, an assistant research fellow at Muhimbili University of Health and Allied Sciences in Tanzania and a PhD student in Global Health at University College Dublin, presented her research findings at the 5th HIV Research for Prevention Conference (#HIVR4P2024) in Lima, Peru. Her study, titled ''They are Not HIV Treatment Drugs; They are Preventive Drugs (PrEP): Experiences of Using PrEP Among Vulnerable Adolescent Girls and Young Women in Tanzania,'' was part of the Oral Abstract

Singer Ray J exposes secret deals of Sean Diddy CombsSean Diddy Combs, American rapper and producer, is currently in deep water as his on-going controversial charges continue to get worse each day. The 55-year-old is now going through a difficult phase of his life being held at the Metropolitan...

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Israel's military campaign against Hamas and Hezbollah could reshape Middle Eastern alliances and weaken Iran's regional influence.

ISLAMABAD: The Ministry of Mari­time Affairs has prepared the draft of a new shipping policy, which includes provisions aimed at providing financial sec­u­rity to the owners of registered ships.

‘Pakistan Shipping Policy 2024’ will replace Pakistan Merchant Marine Policy 2001, as well as the amended version of 2019. The ministry organised a workshop of stakeholders on Wednesday to discuss the draft of the new shipping policy.

Maritime Affairs Secretary Syed Zafar Ali Shah, chairpersons of port authorities, senior officials of the maritime affairs ministry and stakeholders from the private sector participated in the workshop.

The policy makes it possible by legislation to furnish a bond of adequate amount to owners of any registered ship if it is detained or seized for any reason within the territorial jurisdiction of Pakistan, and it should be within 24 hours after taking the surety bond.

The secretary of maritime affairs informed participants of the workshop that the Shipping Policy 2024 has been made in accordance with the standards and rules of the International Maritime Organisation.

It was noted that the government should ensure that if the case is settled, the bail bonds are returned within one month.

In this regard, a help desk should also be established within the ministry of maritime affairs and special courts related to maritime affairs should also be set up having powers equal to high courts.

The draft proposes that the newly registered Pakistani shipping company will pay $0.75 per gross registered tonnage for five years, while currently the Pakistan National Shipping Corporation (PNSC) is paying $1 per gross registered tonnage on its revenue.

The rebate of $0.25 to new companies is likely to encourage domestic and national investors to show interest in maritime industry.

The draft has proposed that the registered Pakistani shipping companies would be allowed to seek financing from foreign financial institutions and banks.

A proposal to grant tax exemption for 10 years to new foreign shipping companies was brought forward by the participants of the workshop, and they stressed for assistance by state authorities to Pakistan shipping companies in opening foreign currency accounts.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Ministry of Commerce and the World Bank have agreed to form a joint working group on trade to capitalise on the country’s true export potential.

The understanding was reached during a meeting of Commerce Minister Jam Kamal Khan with a team from the World Bank. Both sides agreed that the working group would meet periodically to advance the goal of realising Pakistan’s export potential of $60 billion.

An official announcement said both sides discussed Pakistan’s export reform agenda, focusing on strategies to enhance export competitiveness and streamline enabling policies.

The discussion also addressed how the World Bank can support these initiatives under the broader country programme.

Mr Kamal highlighted the whole-of-government approach to export enhancement, which promotes a unified policy framework to improve competitiveness and the Ease of Doing Business for exporters.

This strategy emphasises export-led growth by providing crucial enabling factors such as financing, liquidity support, reduced input costs, and regulatory facilitation to empower Pakistan’s export sector.

Published in Dawn, November 14th, 2024

KARACHI: The stock market bounced back on Wednesday as investors indulged in value-hunting, helping the benchmark KSE 100 index partially recover overnight losses.

Ali Najib, Head of Sales at Insight Securities, attributed the market’s positive performance to continued buying activity from high-net-worth individuals and mutual funds, supported by improvements on the macroeconomic front, a stable rupee, and a decline in bond market yields.

In early trade, the benchmark KSE-100 index lost 281.49 points to 92,943.59 but rebounded on renewed buying interest, adding 579.02 points to hit an all-time high at 93,803.59 intraday. How­ever, the index settled at 93,355.43 with a trimmed gain of 130.86 points or 0.14pc day-on-day.

Ahsan Mehanti of Arif Habib Corporation said stocks showed recovery led by second and third-tier scrips on strong valuations.

He added that upbeat data on car sales surging 112pc year-on-year in October and the FBR assurance to IMF for dropping contingency measures on revenue, reversing fears about mini-budget were other factors that supported the positive performance at PSX.

Topline Securities Ltd said the market exhibited a consolidation phase, with the index reaching a peak of 93,804 and dipping to a low of 92,943.

The index was boosted by positive contributions from Mari Petroleum, Lucky Cement, The Searle, Engro Corporation, and POL, which collectively added 461 points. Conv­ersely, Oil and Gas Dev­elop­ment Company, Fauji Fertiliser, and Meezan Bank experienced some profit-taking, resulting in a combined loss of 213 points to the index.

The trading volume was up 1.78pc to 807.06m shares, and its value by 2.92pc to Rs31.68.

Stocks contributing significantly to the traded volume included WorldCall Tele­com (43.29m shares), Waves Home Appliances (33.20m shares), Pakistan Refinery (31.52m shares), K-Electric (27.45m shares) and Pak Elektron (26.99m shares).

The shares registering the most significant incre­ases in their prices in absolute terms were Rafhan Maize (Rs64.96), Philip Morris (Rs38.17), Mari Pet­ro­leum (Rs30.13), Lucky Cement (Rs28.64) and Packages Ltd (Rs28.37).

Foreigners remained net sellers as they offloaded shares worth $5.01m.

Published in Dawn, November 14th, 2024

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur on Wednesday said his government is committed to providing maximum opportunities to girls to excel in education and sports.

He said that perseverance was key to success in life and that striving forward with determination and high spirits ultimately led to success.

He was speaking at the concluding ceremony of All Pakistan Inter-Boards Girls Cricket and Tennis Championship held at the Board of Intermediate and Secondary Education, Peshawar, according to a statement issued from the chief minister’s secretariat on Wednesday.

The competitions commenced on Nov 9, featuring teams from KP and various other educational boards from across the country.

Mr Gandapur welcomed the participants from other provinces and emphasised the importance of organising sports alongside academic activities.

“The purpose of holding such events is to polish the skills of our youth, and get them prepared for practical life ahead,” the statement quoted Mr Gandapur as saying. “Challenges are part of the journey to success and should be faced head-on,” he added.

“A person becomes great when he dreams big,” he said while quoting PTI founder Imran Khan, adding that one must set ambitious goals and move forward with courage.

The chief minister congratulated the Lahore Board’s cricket team on its victory, and affirmed the importance of investing in youth.

Mr Gandapur also announced cash prizes of Rs50,000 for each participating team.

He also distributed trophies and shields among the players.

In tennis, the Lahore Board secured the first position followed by Mardan, while Peshawar Board and Punjab Board of Technical Education, Lahore, shared the third position.

Similarly, the Lahore Board clinched the first position in the cricket tournament, while Peshawar remained the runner-up.

The chief minister also inaugurated a newly-constructed gymnasium at the Peshawar BISE, which has been established at a cost of Rs160 million. The facility includes boxing, karate, taekwondo, wrestling rings, a table tennis court and a fitness gym.

Published in Dawn, November 14th, 2024

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