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Augmented actuality agency Nreal targets IPO inside 5 years, CEO says

SHANGHAI — Nreal, a Chinese company making glasses for so-called augmented reality experiences, is looking to go public within five years, its CEO told CNBC.

“We’re thinking this is really a major tech market and really looking forward to what’s going to happen in the next 10 to 15 years. Very exciting – I think its more like ’06, ’07 of the smartphone business,” Chi Xu, CEO of Nreal said.

“We see a lot of good opportunities and, definitely, we’re thinking the market size is going to be massive. And we have this opportunity and we want to take this to the final end.”

He said an initial public offering could come in “less than 5 years.”

The company’s flagship product is a pair of lightweight glasses called Nreal Light, which has been released in a handful of markets including South Korea and Japan. Nreal says its glasses allow users to experience “mixed reality” where digital images are superimposed over the real world.

The Nreal Light connects to a smartphone. One of the immediate uses frees people from being tied to their small smartphone screens.

“Whatever you’re displaying in the cellphone screen in front of you, you put that in front of your face, into a massive screen, and that can be 3D, that can be ultra-high definition,” Xu said.

An attendee tries a pair of Nreal mixed-reality glasses at the MWC Shanghai exhibition in Shanghai, China, on Tuesday, Feb. 23, 2021.

Qilai Shen | Bloomberg | Getty Images

Nreal’s ambitions pit it against technology giants that see a bright future in augmented reality. Apple CEO Tim Cook has called AR the “next big thing” and the iPhone giant is reportedly working on a headset. Facebook, Microsoft, Google and other technology companies are all investing in AR.

But current headsets on the market are expensive and often bulky. Nreal is hoping its portable nature will appeal to consumers. The price varies by market depending on how it is distributed. For example, in Japan the headset costs around $700. But in South Korea, the device can be purchased through a telecom operator’s plan which subsidizes the headset to around $300.

Business model

Nreal has a platform for developers to create apps for the headset’s operating system called Nebula.

“It’s very similar to what Apple has been doing for smartphone,” Xu said. “We offer a platform where people use that for different kinds of experiences and developers — they can deploy, they can develop different content onto the field.”

Apple not only makes money from sales of its iPhones and other hardware but it also gets revenue from commissions off its App Store.

Nreal has some notable backers. Kuaishou, the short-video platform in China and iQiyi, a video streaming service, are among the company’s investors. Xu said Nreal would be working with both Kuaishou and iQiyi.

“As we mentioned, not only are we going to provide the hardware. We want to bundle different services with the glasses. So take video for example, whether it’s a long video or short video. We’re thinking glasses are a much better terminal to experience the video in,” the CEO said.

“So that’s why we’ll be working with those giants, really working on the new interface.”

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‘They Have My Sister’: As Uyghurs Communicate Out, China Targets Their Households

She was a gifted agricultural scientist educated at prestigious universities in Shanghai and Tokyo. She said she wanted to help farmers in poor areas, like her hometown in Xinjiang, in western China. But because of her uncle’s activism for China’s oppressed Muslim Uyghurs, her family and friends said, the Chinese state made her a security target.

At first they took away her father. Then they pressed her to return home from Japan. Last year, at age 30, Mihriay Erkin, the scientist, died in Xinjiang, under mysterious circumstances.

The government confirmed Ms. Erkin’s death but attributed it to an illness. Her uncle, Abduweli Ayup, the activist, believes she died in state custody.

Mr. Ayup says his niece was only the latest in his family to come under pressure from the authorities. His two siblings had already been detained and imprisoned. All three were targeted in retaliation for his efforts to expose the plight of the Uyghurs, he said.

“People are not only suffering there, they are not only being indoctrinated there, not only being tortured, they are actually dying,” said Mr. Ayup, who now lives in Norway. “And the Chinese government is using this death, using these threats to make us silent, to make us lose our hope.”

As Beijing has intensified its repression in Xinjiang in recent years, more Uyghurs living overseas have felt compelled to speak out about mass internment camps and other abuses against their families back home. Their testimonies have added to a growing body of evidence of China’s crackdown, which some have called a genocide, prompting foreign governments to impose sanctions.

Credit…Abduweli Ayup

Now the Chinese authorities are pushing back against overseas Uyghurs by targeting their relatives.

The Communist Party has long treated the relatives of dissidents as guilty by association and used them to pressure and punish outspoken family members. With the courts under the control of the authorities, there is little recourse to challenge such prosecutions. Liu Xia, the wife of Chinese activist Liu Xiaobo, spent nearly eight years under house arrest after he was awarded the Nobel Peace Prize in 2010. Her younger brother, Liu Hui, served two years in prison for a fraud conviction she called retaliation.

But with the Uyghurs, the authorities seem to be applying this tactic with unusual, and increasing severity, placing some Uyghur activists’ relatives in prison for decades, or longer.

Dolkun Isa, the German-based president of the World Uyghur Congress, a Uyghur rights group, said he believes his older brother is in detention. He learned in late May that his younger brother, Hushtar, had been sentenced to life in prison. “It was connected to my activism, surely,” Mr. Isa said.

Radio Free Asia, a United States-funded broadcaster, says that more than 50 relatives of journalists on staff have been detained in Xinjiang, with some held in detention camps and others sentenced to prison. The journalists all work for the broadcaster’s Uyghur language service, which has in the past several years stood out for its reporting on the crackdown, exposing the existence of camps and publishing the first accounts of deaths and forced sterilizations.

The sister of Rushan Abbas, a Uyghur American activist, was sentenced in December to 20 years in prison for terrorism. The sister, Gulshan Abbas, and her aunt had been detained in 2018, days after Rushan Abbas spoke at an event in Washington denouncing the crackdown and widespread detention in Xinjiang.

“As retaliation against me because I made that public speech, as a tool to silence me, they abducted my sister,” Ms. Abbas said. “They have my sister as a hostage right now.”

At Beijing’s request, some countries have also sent more than 300 Uyghurs back to China since 2010, according to a study by the Oxus Society for Central Asian Affairs, and the Uyghur Human Rights Project, nonprofits based in Washington, D.C. One Uyghur now fighting extradition is Idris Hasan, whom activists say has been detained in Morocco.

In the case of Ms. Erkin, the scientist, her uncle first drew the attention of the authorities in Xinjiang for trying to expand the use of the Uyghur language. The government regarded even the most moderate expression of ethnic identity as a threat and Mr. Ayup was arrested in 2013 and spent 15 months in prison. After he was released, he fled abroad, but his experience emboldened him to continue campaigning.

Back home, Mr. Ayup’s brother, Erkin Ayup, a local Communist Party official, knew that his own situation was precarious. In 2016, he told his daughter that a crackdown was unfolding, and he feared he could be caught up in it, according to Asami Nuru, a friend of Ms. Erkin’s in Tokyo.

The father and daughter devised a simple system to let Ms. Erkin know he was safe: he would send her a smiley face sticker on WeChat every morning.

“One day, he didn’t send the sticker,” Ms. Nuru said. “She called her mother and she learned her father was in a camp. She was very upset, and from then on she would cry every day.”

Mr. Ayup believes the authorities took his brother into custody in mid-2017.

In the years that followed, Ms. Erkin’s anxiety over her father’s situation bore down on her, and she even lost weight, Ms. Nuru said. She began to receive adamant messages from her mother, likely at the behest of the authorities, telling her to stop her uncle’s activism or return home.

Her family and friends say her decision to return to China in June 2019 was sudden. She left her suitcases in the house where she lived.

Ms. Erkin called Ms. Nuru from the airport and told her that she wanted to try to find her father, even though she knew he was still in detention. Ms. Nuru said she tried to persuade her against the idea.

“She told me, ‘I want to try to find my father, even if it means I might die,’” Ms. Nuru said.

Mr. Ayup says he believes that the authorities arrested Ms. Erkin in February 2020 to punish him after he helped international news outlets report on a leaked government document outlining how Uyghurs were tracked and chosen for detention.

The circumstances of Ms. Erkin’s death remain unclear.

Her death was first reported by Radio Free Asia, which cited a national security officer from Ms. Erkin’s hometown as saying she had died while in a detention center in the southern city of Kashgar. Mr. Ayup said he believed it was the same place where he himself had been beaten and sexually abused six years earlier.

Ms. Erkin’s family was given her body, Mr. Ayup said, but were told by security officials to not have guests at her funeral and to tell others she died at home.

In a statement to The New York Times, the Xinjiang government said that Ms. Erkin had returned from overseas in June 2019 to receive medical treatment. On Dec. 19, she died at a hospital in Kashgar of organ failure caused by severe anemia, according to the statement.

From the time she went to the hospital until her death, she had always been looked after by her uncle and younger brother, the government wrote.

Before she returned to China, Ms. Erkin seemed to be aware that her return could end tragically.

“We all leave alone, the only things that can accompany us are the Love of Allah and our smile,” she wrote in text messages to Mr. Ayup when he tried to dissuade her from going home.

“I am very scared,” she admitted. “I hope I would be killed with a single bullet.”

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World News

Inflation is again close to targets and that ought to be celebrated: BIS

A crowded bar in Paris’ 6th Arrondissement as Parisians embrace the lifting of Covid-19 restrictions as cafes and restaurants across France re-open for the first time in over 6 months.

Kiran Ridley | Getty Images News | Getty Images

LONDON — The recent surge in consumer prices is temporary and should be celebrated, Claudio Borio, head of the economic and monetary department at the Bank for International Settlements, told CNBC.

“For those countries … that have been trying very, very hard to get inflation up unsuccessfully, having inflation persistently higher, roughly at target, that would actually be very good news and one should rejoice about that,” Borio told CNBC’s Julianna Tatelbaum in an interview.

His comments come after inflation readings have beaten expectations in both the U.S. and Europe over recent months — dividing policymakers.

Some European officials believe the region’s pandemic-induced stimulus program should be scaled back in the face of rising prices, while others argue that inflation will be temporary and so monetary policy should remain loose.

Inflation can be a tricky economic indicator: If it is too high, it erases the purchasing power of consumers; if it is too low, it can reduce economic growth. 

“The real problem is if inflation proves to be higher, uncomfortably higher for uncomfortably long,” Borio said.

However he stressed that the BIS — which is known as the central bank of central banks — expects the increase in inflation to be “transitory.”

Until recently in the euro zone, inflation has been persistently low in the wake of the global financial crisis and the region’s sovereign debt crises. But prices have experienced a massive increase in recent weeks.

Annual Inflation in the euro zone rose to 2% in the month of May, slightly above the ECB’s target of “below, but close to, 2%.” This has been linked to the easing of various social-distancing rules across the 19 euro nations and consumers’ willingness to spend more.

However, European Central Bank President Christine Lagarde has insisted that the uptick in inflation is temporary, and that it will fall back below target in the foreseeable future.

“Inflation has picked up over recent months, largely on account of base effects, transitory factors and an increase in energy prices. It is expected to rise further in the second half of the year, before declining as temporary factors fade out,” she said at a press conference earlier this month.

Speaking to CNBC, Borio agreed that “so far, most [of] what is going on is essentially temporary.”

“We have one-off increases in prices which are basically bouncing back from where they were before; we’re having technical effects, so-called base effects; we’re seeing, indeed, there are speed limits to [the] world economy,” he added.

The latest ECB forecasts point to a headline inflation of 1.9% at the end of 2021, followed by a decrease to 1.5% and 1.4% in 2022 and 2023, respectively.

In the BIS latest annual report, released Tuesday, the institution said that “normalising policy will not be easy” for central banks.

This subject has already sparked some divisions within the ECB, with hawkish member Jens Weidmann pushing for the coronavirus-stimulus program to be lifted step-by-step.

Whereas other ECB members are worried about a premature scaling back of the program.

Correction: This article has been updated to correct the spelling of Claudio Borio, head of the economic and monetary department at the Bank for International Settlements.

 

 

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COP26 president says ‘coal should go’ if planet to fulfill local weather targets

Justin Merriman | Bloomberg Creative Photos | Getty Images

This year’s COP26 climate change conference must bring coal a thing of the past, according to UK lawmakers, who will formally negotiate at the summit.

In a comprehensive speech on Friday, COP26 President-elect Alok Sharma wanted to highlight the importance of ending international coal financing, a goal he called a “personal priority”.

“We call on the countries to give up coal power and win the G-7 as a pioneer,” he said. “At the same time, we are working with developing countries to support their transition to clean energy.”

“The days of coal, which provides the cheapest form of energy, are in the past and must remain in the past,” he added.

Sharma said science understands that “coal has to go” to sustain the goal of limiting global warming to 1.5 degrees Celsius.

The goal was set in the Paris Agreement on Climate Change during the 2015 COP21 Summit in the French capital.

The agreement, described by the United Nations as a legally binding international treaty on climate change, aims to “limit global warming to well below 2, preferably 1.5 degrees Celsius, compared to pre-industrial levels”.

The COP26 summit is due to be hosted by the UK and will take place in the Scottish city of Glasgow between November 1st and 12th. It was originally supposed to take place a year earlier, but has been postponed due to the coronavirus pandemic.

The UK’s official COP26 website said it would “bring parties together to accelerate action to achieve the goals of the Paris Agreement and the UN Framework Convention on Climate Change”.

In his remarks on Friday, Sharma continued: “The reality is that renewable energies are cheaper than coal in most countries. The coal business, as the UN Secretary-General has said, is going up in smoke. It’s old technology.”

“So let’s make COP26 the moment we leave it where it belongs in the past and, of course, help workers and communities transition by creating good green jobs to fill the void.”

While some will view Sharma’s ambitions as commendable, coal still provides more than a third of the planet’s electricity generation, according to the International Energy Agency.

According to an analysis by the IEA, global coal consumption decreased by 4% in 2020, but that decrease “was mainly concentrated in the first few months of the year”.

“By the end of 2020, demand had risen above pre-Covid levels due to Asia, where economies recovered quickly and December was particularly cold,” added the IEA.

In the US, coal continues to play an important role in power generation. Preliminary figures from the US Energy Information Administration show that natural gas and coal accounted for 40.3% and 19.3% of utility-scale electricity generation in 2020, respectively.

Sharma’s comments come at a time when plans for a new coal mine in Cumbria, a county in northwest England, are proving extremely controversial, not least because Britain will host COP26. The fate of the project is to be determined.

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Business

Personal jet constitution firm VistaJet targets carbon neutrality by 2025

The private jet charter company VistaJet has outlined plans to achieve carbon neutrality by 2025 in order to implement the aviation industry’s sustainability goals.

The strategy includes carbon offsetting schemes that help protect forests in Zimbabwe and the Brazilian Amazon, as well as the option for customers to pay additional fees for sustainable fuels such as biofuels.

VistaJet’s founder and chairman said the company’s shared economy business model, which “competes with full aircraft ownership” by giving subscribers access to its fleet of 160 private jets, means customers are more willing to make sustainable cost savings Invest add-ons.

Some of these empty flights can be up to 50% compared to a shared model where it is constantly being optimized.

Thomas Flohr

Founder and Chairman of VistaJet

“The price and cost advantages that we grant make this surcharge possible,” Thomas Flohr told CNBC’s “Squawk Box Asia” on Thursday. So far, VistaJet has had a conviction rate of over 80% among customers who choose sustainable fuels.

Flohr said the company will also use “cutting edge technology” for route planning, including artificial intelligence, to predict customer behavior and reduce empty legs to the “lowest possible level.”

“This is really one of the problems with corporate jets. Some of these empty flights can be up to 50% compared to a common model that is constantly optimizing it,” he noted.

A man is on the phone next to a VistaJet on display for the 11th Annual European Business Aviation Convention and Exhibition (EBACE) on May 16, 2011 at Geneva Airport and the Geneva Palexpo in Geneva, Switzerland.

Harold Cunningham | Getty Images News | Getty Images

The plans come because the aviation industry is under continued pressure to cut carbon emissions and improve sustainability practices, even as it struggles to recover from the coronavirus-induced impact on international travel.

The global aviation industry is currently aiming for a 50% reduction in CO2 emissions by 2050.

Despite criticism of private jet flights, whose low passenger numbers are typically viewed as more inefficient than commercial alternatives, Flohr believes the industry is at a turning point.

While commercial airlines can take several years to return to full capacity due to the pandemic, companies like VistaJet can now operate smaller aircraft at full capacity, he said.

“In terms of business efficiency, we really don’t keep a CEO on a flight,” said Flohr. “We really only take off when we have a fully paid and fully equipped cabin.”

Already this year, restrictions on business travel have been a boon for VistaJet as the company saw demand in the first quarter that was above pre-pandemic levels.

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Business

Philippines targets overseas funding with Singapore-style tax regulation

A new Singapore-inspired tax bill will lower corporate taxes and boost foreign investment in the Philippines, Treasury Secretary Carlos Dominguez told CNBC as the country seeks to accelerate its economic recovery.

The Philippines’s so-called Business Recovery and Business Tax Incentives Act (CREATE), which came into force last month, aims to provide financial relief to businesses in need while increasing the country’s competitiveness in the region, he told CNBC on Tuesday.

The law lowers the corporate income tax rate – formerly the highest among Southeast Asian countries at 30% – to 25% for large companies and 20% for small companies.

It also unifies the government’s inbound investment program, bringing it closer to financial centers like Singapore, and giving the president more powers to give non-tax incentives to businesses, Dominguez said.

“We have modeled our program on the Singaporean system,” he said, referring to his coordinated strategy of attracting foreign investment and creating incentives.

“In the past we had 13 independent investment promotion agencies in the country that were poorly coordinated,” he continued.

People wearing protective masks are seen walking on a busy street in Manila, Philippines on March 20, 2021.

Xinhua News Agency | Getty Images

“Now we’re coordinating them and making sure these agencies offer incentives that are transparent, time-bound, performance-driven and that attract the investments we actually want in this country.”

The reduced corporate tax is the latest in a series of tax reforms introduced by President Rodrigo Dutertes PDP Laban Party since taking office in 2016.

The finance secretary said the plans would return cash to distressed small and medium-sized businesses, which can then invest in jobs and economic growth again. However, critics have questioned the merits of reducing already stressed public finances as the country battles the coronavirus pandemic.

“We estimate the portion we are giving up will be around 1 trillion pesos ($ 20.65 billion) over a 10-year period. However, we believe this is a time to do so,” Dominguez said.

Businesses need fiscal incentives, number one. Second, that it will attract more investment into our country over a long period of time

Carlos Dominguez

Minister of Finance of the Philippine Government

“Companies need fiscal incentives, number one. And second, that they will attract more investment into our country over a long period of time,” he said.

The Philippines have so far maintained their BBB ratings from Fitch Ratings, BAA2 from Moody’s and BBB + from Japan’s Rating and Investment Information Agency (R&I). This is despite the global downturn and its disproportionate impact on emerging markets.

“Not just the rating agencies, but the people who actually put their money where their mouth is, have invested in the long-term profitability and prospects of the Philippines,” he said, citing the strong bond trading activity.

The Finance Secretary’s comments come as the Philippines faces a surge in cases in its capital, Manila. Dominguez said the country’s resources are currently “sufficient” to handle the surge, adding that by the end of this year it had ordered enough vaccines to vaccinate its 70 million adult population.

“This Covid contagion is just a slip-up in our history. We still have our solid fundamentals, which represent our very strong fiscal and monetary system in the Philippines,” said Dominguez.

“We have a very young and talented workforce and so far we have improved the infrastructure. So this CREATE (law) will only add to our ability to attract more investment into this country.”

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Business

L’Oreal targets male magnificence, new customers in MENA, South Asia

A newly created market in the South Asia Pacific and the Middle East will account for most of L’Oreal’s new business for the next decade – men make up a large chunk of that, the French cosmetics giant said.

The combined geographic zone – known internally as SAPMENA – will cover 35 markets in South Asia Pacific, the Middle East and North Africa. Headquartered in Singapore, the new zone is in response to shared consumer trends and growth opportunities, said region president Vismay Sharma.

“This region, or SAPMENA as we call it … will be an important growth engine for us. This is where we will win the most consumers in the next ten years,” he told CNBC on Wednesday.

The move also makes sense demographically, Sharma said. Overall, 40% of the world’s population live in the region, with an average age of 28 years.

“Over 40% of consumers (in the region) are under 25,” he said. “That makes it extremely exciting for us and a very strategic market for the future.”

The 112-year-old company is trying to adapt to changing consumer habits and new markets, despite holding up relatively well during the pandemic. Revenue rose 10.2% in the first quarter of 2021, nearing pre-pandemic levels.

kyonntra | E + | Getty Images

However, Sharma said the coronavirus crisis boosted certain categories like health and wellness, as well as the demand for sustainable products.

The demand for male cosmetics has also increased recently. Japanese beauty company Shiseido reportedly saw double-digit growth in one of its male makeup lines in 2020 as male consumers became more aware of their looks during pandemic video conferencing.

Sharma said he expected interest in male cosmetics to continue, particularly in the SAPMENA region.

Especially in Asia we can see that men are much more critical about their skin, about the scents they wear, about their hair

Vismay Sharma

President (SAPMENA), L’Oreal

“In the past, men didn’t use enough beauty products – so penetration was much lower, per capita consumption was much lower, and frequency of use was much lower,” he said.

Now, “especially in Asia, we can see that men put a lot more emphasis on their skin, the scents they wear, their hair,” he continued.

“This part is going to be extremely interesting. In terms of growth percentages, we’re seeing significant growth in this part.”

However, in absolute terms, women will remain a significantly larger consumer base of beauty products for some time, he noted.

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Iran Rattled as Israel Repeatedly Strikes Key Targets

BEIRUT, Libanon – In weniger als neun Monaten erschoss ein Attentäter auf einem Motorrad tödlich einen Al-Qaida-Kommandeur, der in Teheran Zuflucht gesucht hatte. Der iranische Chef-Nuklearwissenschaftler wurde auf einer Landstraße mit Maschinengewehren erschossen, und zwei separate, mysteriöse Explosionen erschütterten einen wichtigen iranischen Nuklearwaffen Anlage in der Wüste, die das Herzstück der Bemühungen des Landes zur Anreicherung von Uran trifft.

Das stetige Drumbeat der Angriffe, von denen Geheimdienstbeamte sagten, dass sie von Israel durchgeführt wurden, unterstrich die scheinbare Leichtigkeit, mit der der israelische Geheimdienst tief in die Grenzen des Iran vordringen und wiederholt seine am stärksten bewachten Ziele treffen konnte, oft mit Hilfe von Iranern.

Die Angriffe, die jüngste Welle in mehr als zwei Jahrzehnten der Sabotage und Ermordung, haben peinliche Sicherheitslücken aufgedeckt und die iranischen Staats- und Regierungschefs über ihre Schultern schauen lassen, als sie Verhandlungen mit der Biden-Regierung zur Wiederherstellung des Atomabkommens von 2015 führen.

Die Beschuldigungen waren ätzend.

Der Leiter des strategischen Zentrums des Parlaments sagte, der Iran sei zu einem “Zufluchtsort für Spione” geworden. Der ehemalige Kommandeur des Korps der Islamischen Revolutionsgarden forderte eine Überholung des Sicherheits- und Geheimdienstapparats des Landes. Der Gesetzgeber hat den Rücktritt von hochrangigen Sicherheits- und Geheimdienstbeamten gefordert.

Am alarmierendsten für den Iran, sagten iranische Beamte und Analysten, war, dass die Angriffe zeigten, dass Israel ein effektives Netzwerk von Kollaborateuren im Iran hatte und dass die iranischen Geheimdienste die Maulwürfe nicht gefunden hatten.

“Dass die Israelis in der Lage sind, den Iran so dreist ins Innere zu schlagen, ist äußerst peinlich und zeigt eine Schwäche, die meiner Meinung nach im Iran schlecht spielt”, sagte Sanam Vakil, stellvertretender Direktor des Programms für den Nahen Osten und Nordafrika im Chatham House.

Die Angriffe haben auch eine Wolke von Paranoia über ein Land geworfen, das jetzt in jedem Missgeschick ausländische Verschwörungen sieht.

Am Wochenende zeigte das iranische Staatsfernsehen ein Foto eines Mannes, der angeblich Reza Karimi (43) war, und beschuldigte ihn, der „Sabotagetäter“ bei einer Explosion im Atomanreicherungswerk Natanz in der vergangenen Woche zu sein. Aber es war unklar, wer er war, ob er alleine gehandelt hatte und ob das überhaupt sein richtiger Name war. Auf jeden Fall sei er vor der Explosion aus dem Land geflohen, sagte das iranische Geheimdienstministerium.

Am Montag, nachdem die iranischen staatlichen Nachrichtenmedien berichtet hatten, dass Brig. General Mohammad Hosseinzadeh Hejazi, der stellvertretende Befehlshaber der Quds Force, der ausländische Arm der Revolutionsgarden, war an einer Herzerkrankung gestorben. Es bestand sofort der Verdacht auf ein schlechtes Spiel.

General Hejazi war lange Zeit ein Ziel israelischer Spionage gewesen, und der Sohn eines anderen prominenten Kommandanten der Quds Force bestand auf Twitter darauf, dass der Tod von Herrn Hejazi „nicht kardial bedingt“ sei.

Ein Sprecher der Revolutionsgarden versäumte es, die Luft mit einer Erklärung zu reinigen, in der er sagte, der General sei an den kombinierten Auswirkungen „extrem schwieriger Aufgaben“ gestorben, einer kürzlichen Covid-19-Infektion und der Exposition gegenüber chemischen Waffen während des Iran-Irak-Krieges.

Der General wäre der dritte hochrangige iranische Militärbeamte gewesen, der in den letzten 15 Monaten ermordet wurde. Die Vereinigten Staaten haben im Januar letzten Jahres Generalmajor Qassim Suleimani, den Führer der Quds Force, getötet. Israel ermordete im November Mohsen Fakhrizadeh, Irans Chef-Nuklearwissenschaftler und Brigadegeneral der Revolutionsgarden.

Selbst wenn General Hejazi aus natürlichen Gründen starb, war der kumulative Verlust von drei Top-Generälen ein schwerer Schlag.

Die Angriffe stellen einen Aufschwung in einer langjährigen Kampagne der Geheimdienste Israels und der Vereinigten Staaten dar, um das zu untergraben, was sie als bedrohliche Aktivitäten des Iran betrachten.

Unter ihnen sind vor allem ein Atomprogramm, auf das der Iran als friedlich besteht, die Investition des Iran in Stellvertreter-Milizen in der gesamten arabischen Welt und die Entwicklung präzisionsgelenkter Raketen für die Hisbollah, die militante Bewegung im Libanon.

In einem israelischen Geheimdienstdokument aus dem Jahr 2019 heißt es, dass General Hejazi in den letzten beiden Jahren eine führende Persönlichkeit war, als Kommandeur des libanesischen Korps der Quds Force und Leiter des Lenkwaffenprojekts. Der Sprecher der Revolutionsgarden, Ramezan Sharif, sagte, Israel wolle ihn ermorden.

Israel hat von Anfang an daran gearbeitet, das iranische Atomprogramm zu entgleisen, das es als tödliche Bedrohung ansieht. Es wird angenommen, dass Israel 2007 mit der Ermordung von Schlüsselfiguren des Programms begonnen hat, als ein Nuklearwissenschaftler in einer Urananlage in Isfahan bei einem mysteriösen Gasleck starb.

In den letzten Jahren wurden sechs weitere Wissenschaftler und Militärbeamte ermordet, die für die iranischen Nuklearbemühungen von entscheidender Bedeutung sind. Ein Siebter wurde verwundet.

Ein anderer Befehlshaber der Quds Force, Rostam Ghasemi, sagte kürzlich, er sei einem israelischen Attentat während eines Besuchs im Libanon im März knapp entkommen.

Das Attentat ist jedoch nur ein Werkzeug in einer Kampagne, die auf mehreren Ebenen und Fronten durchgeführt wird.

Im Jahr 2018 führte Israel einen gewagten nächtlichen Überfall durch, um eine halbe Tonne geheimer Archive des iranischen Atomprogramms aus einem Lagerhaus in Teheran zu stehlen.

Israel hat auch die ganze Welt erreicht und Geräte in anderen Ländern aufgespürt, die vom Iran zerstört werden sollen, Transponder in seiner Verpackung verbergen oder Sprengsätze installieren sollen, die nach der Installation der Ausrüstung im Iran explodieren sollen -rangierender amerikanischer Geheimdienstmitarbeiter.

Eine ehemalige israelische Geheimdienstmitarbeiterin sagte, um eine solche Ausrüstung zu kompromittieren, würden sie und ein anderer Beamter an der Fabrik vorbeifahren und eine Krise wie einen Autounfall oder einen Herzinfarkt auslösen, und die Frau würde die Wachen um Hilfe bitten. Dies würde ihr genügend Zugang zur Einrichtung verschaffen, um das Sicherheitssystem zu identifizieren, damit ein anderes Team einbrechen und es deaktivieren kann, sagte sie und sprach unter der Bedingung der Anonymität, weil sie nicht befugt war, verdeckte Operationen zu besprechen.

In einem Interview im iranischen Staatsfernsehen in der vergangenen Woche enthüllte der ehemalige iranische Atomchef die Ursprünge einer Explosion im Atomkraftwerk Natanz im Juli. Der Sprengstoff war in einem schweren Schreibtisch versiegelt worden, der Monate zuvor in der Anlage aufgestellt worden war, sagte Fereydoon Abbasi-Davani, der frühere Chef der iranischen Atomenergieorganisation.

Die Explosion riss durch eine Fabrik, in der eine neue Generation von Zentrifugen hergestellt wurde, und setzte das iranische Programm zur nuklearen Anreicherung monatelang zurück.

Die Explosion im Werk Natanz in der vergangenen Woche sei das Ergebnis einer „sehr ausgeklügelten“ Operation gewesen, bei der die Täter gleichzeitig die Stromversorgung der Zentrifugen sowohl vom Hauptstromnetz als auch von den Pufferbatterien abschalten konnten. Durch den plötzlichen Stromausfall gerieten die Zentrifugen außer Kontrolle und zerstörten Tausende von ihnen.

Alireza Zakani, Leiterin des Forschungszentrums des Parlaments, sagte am Dienstag, dass in einem anderen Fall Maschinen von einem Nuklearstandort zur Reparatur ins Ausland geschickt und mit 300 Pfund Sprengstoff in den Iran zurückgebracht worden seien.

Zusätzlich zu den Rückschlägen für das iranische Urananreicherungsprogramm dürften die Angriffe die Hand des Iran in indirekten Gesprächen mit den Vereinigten Staaten über die Wiederherstellung des Atomabkommens von 2015 schwächen.

Präsident Trump zog sich 2018 aus dem Abkommen zurück, in dem der Iran im Austausch für die Aufhebung von Sanktionen Beschränkungen für sein Atomprogramm akzeptierte. Präsident Biden hat die Wiederherstellung zu einem seiner wichtigsten außenpolitischen Ziele gemacht.

Israel lehnte das Abkommen und den Zeitpunkt seines jüngsten Angriffs ab, während die Atomgespräche in Wien stattfanden, und schlug vor, dass Israel versuchen sollte, die Gespräche zumindest zu verringern, um die Hebelwirkung des Iran zumindest zu verringern.

Die Vereinigten Staaten sagten, sie seien nicht an dem Angriff beteiligt gewesen, haben ihn aber auch nicht öffentlich kritisiert.

Es wäre für Israel schwierig gewesen, diese Operationen ohne die Hilfe der Iraner durchzuführen, und das könnte das sein, was den Iran am meisten empört.

Sicherheitsbeamte im Iran haben in den letzten zehn Jahren mehrere iranische Bürger strafrechtlich verfolgt und ihnen die Mitschuld an israelischen Sabotage- und Attentatsoperationen vorgeworfen. Die Strafe ist die Hinrichtung.

Die Infiltrationen haben aber auch den Ruf des Geheimdienstes der Revolutionsgarden besudelt, der für die Bewachung von Nuklearanlagen und Wissenschaftlern verantwortlich ist.

Ein ehemaliger Befehlshaber der Garde forderte eine “Säuberung” des Geheimdienstes, und der iranische Vizepräsident, Eshaq Jahangiri, sagte, dass die für die Sicherheit in Natanz zuständige Einheit “für ihre Fehler zur Rechenschaft gezogen werden sollte”.

Der stellvertretende Parlamentsvorsitzende Amir-Hossein Ghazizadeh Hashemi erklärte am Montag gegenüber den iranischen Nachrichtenmedien, dass es nicht mehr ausreiche, Israel und die Vereinigten Staaten für solche Angriffe verantwortlich zu machen. Der Iran musste sein eigenes Haus putzen.

In einer mit den Guards verbundenen Veröffentlichung, Mashregh News, heißt es letzte Woche: „Warum handelt die Sicherheit der Atomanlage so verantwortungslos, dass sie zweimal aus demselben Loch getroffen wird?“

Aber die Revolutionsgarden antworten nur dem obersten iranischen Führer, Ayatollah Ali Khamenei, und bisher gab es keine Anzeichen für eine Umbesetzung von oben nach unten.

Nach jedem Angriff hatte der Iran Schwierigkeiten zu reagieren und behauptete manchmal, die Verantwortlichen erst identifiziert zu haben, nachdem sie das Land verlassen hatten oder dass sie auf freiem Fuß blieben. Iranische Beamte bestehen auch darauf, dass sie andere Angriffe vereitelt haben.

Die Forderung nach Vergeltung wird mit jedem Angriff lauter. Konservative haben die Regierung von Präsident Hassan Rouhani der Schwäche beschuldigt oder die Sicherheit des Landes den Atomgesprächen unterworfen, in der Hoffnung, dass sie zu Erleichterungen bei den amerikanischen Sanktionen führen.

In der Tat wechselten iranische Beamte im letzten Jahr der Trump-Regierung zu dem, was sie “strategische Geduld” nannten, und rechneten damit, dass Israel sie in einen offenen Konflikt stacheln wollte, der die Möglichkeit von Verhandlungen mit einer neuen demokratischen Regierung ausschließen würde.

Sowohl Herr Rouhani als auch Außenminister Mohammad Javad Zarif haben erklärt, dass sie den Angriffen nicht erlauben würden, die Verhandlungen zu entgleisen, da die Aufhebung der Sanktionen Priorität hatte.

In Wien sagten hochrangige Diplomaten am Dienstag, dass bei den Gesprächen Fortschritte erzielt würden, wenn auch nur langsam. Sie einigten sich darauf, eine Arbeitsgruppe einzurichten, die untersuchen soll, wie die Rückkehr der Vereinigten Staaten zum Abkommen zu regeln ist, indem alle mit dem Abkommen „unvereinbaren“ Sanktionen und die Rückkehr des Iran zu den im Abkommen festgelegten Anreicherungsgrenzen aufgehoben werden.

Es ist auch möglich, dass die Reaktion des Iran auf die israelischen Angriffe weniger durch Geduld als durch Misserfolg gedämpft wurde.

Der Iran wurde für eine Bombe verantwortlich gemacht, die im Januar in der Nähe der israelischen Botschaft in Neu-Delhi explodierte. Im vergangenen Monat wurden in Äthiopien 15 mit dem Iran verbundene Militante verhaftet, weil sie geplant hatten, israelische, amerikanische und emiratische Ziele anzugreifen.

Aber jede offenkundige Vergeltung riskiert eine überwältigende israelische Reaktion.

“Sie haben es nicht eilig, einen Krieg zu beginnen”, sagte Talal Atrissi, Professor für Politikwissenschaft an der libanesischen Universität in Beirut. “Vergeltung bedeutet Krieg.”

Und wenn die wiederholten israelischen Angriffe eine nationale Paranoia auslösten, sagte ein Geheimdienstmitarbeiter, wäre dies ein Nebeneffekt für Israel. Die zusätzlichen Schritte, die der Iran unternommen hat, um Gebäude nach Überwachungsgeräten und Hintergründen von Lotsen zu durchsuchen, um potenzielle Spione auszurotten, haben die Anreicherungsarbeit verlangsamt, sagte der Beamte.

Die übliche Weisheit ist, dass keine Seite einen umfassenden Krieg will und sich darauf verlässt, dass die andere Seite nicht eskaliert. Gleichzeitig hat sich der verdeckte, regionale Schattenkrieg zwischen Israel und dem Iran durch israelische Luftangriffe auf von Iran unterstützte Milizen in Syrien verschärft.

Angesichts der schwierigen Wirtschaftslage des Iran, der grassierenden Covid-19-Infektionen und anderer Probleme einer schlechten Regierungsführung besteht jedoch der Druck, bald eine neue Einigung zur Aufhebung der Wirtschaftssanktionen zu erzielen, sagte Frau Vakil vom Chatham House.

“Diese Angriffe auf niedriger Ebene in der Grauzone zeigen, dass die Islamische Republik die JCPOA dringend wieder in eine Kiste bringen muss”, um Ressourcen für die Lösung ihrer anderen Probleme freizusetzen, sagte sie unter Bezugnahme auf das Atomabkommen, das offiziell als gemeinsamer umfassender Plan bezeichnet wird Handlungs.

Eric Schmitt trug zur Berichterstattung aus Washington bei; Hwaida Saad aus Beirut, Libanon; und Steven Erlanger aus Brüssel.

Categories
Politics

Robinhood lobbying targets laws that might harm its enterprise mannequin

Pavlo Gonchar | LightRocket | Getty Images

Robinhood is preparing to lobby for important pieces of legislation the adoption of which could weigh on the business model.

The stock trading startup registered its in-house team to begin lobbying on February 5th. This comes out from a new registration report that has been reviewed by CNBC.

The filing gives an initial glimpse into the legislation the startup is targeting after Joe Biden became president and Democrats took control of Congress. Some of the bills in the registration report could adversely affect Robinhood’s revenue model of benefiting from customer business.

One of the bills Robinhood wants to focus on is the Wall Street Tax Act of 2019. It was introduced two years ago by Rep. Peter DeFazio, D-Ore., And Senator Brian Schatz, D-Hawaii, with a view to On Certain financial transactions, including the purchase of stocks, bonds, and derivatives, are subject to an excise duty of 0.1%.

A trade tax was introduced to curb some of the frenzied activity of the past few weeks. Less trading could weigh on the profits of Robinhood and other large online brokerage firms.

Although Robinhood and the rest of the industry don’t charge a fee for this, they rely on what is known as payment for the flow of orders instead of commissions. Market makers like Citadel Securities or Virtu pay e-brokers for the right to conduct customer trades. The broker then receives a small fee for the routed stocks, which can add up to millions if customers are as active as they have been in recent months.

Robinhood has grown into one of the most valuable private startups in Silicon Valley. It was last valued at $ 11.7 billion, with supporters like Sequoia and Andressen Horowitz. Despite the trading chaos and setback in January, several venture capital investors told CNBC the company was still on its way to an IPO in 2021.

A Robinhood spokeswoman declined to comment on the lobbying plans.

GameStop exam

Robinhood’s business model has come under fire from lawmakers and some traders after the company and other brokers restricted the buy side of deals for volatile stocks like GameStop on their platforms in late January. Robinhood said it hadn’t taken a step due to outside pressure and was forced to restrict trading due to unprecedented demands on its clearinghouse’s collateral.

GameStop’s share price had risen in late January after Reddit traders pushed each other to further double purchases of stocks and hurt hedge funds that had taken over the other side of the trade by short selling.

Short selling is a strategy in which investors borrow shares of a stock at a certain price in hopes that the market value will drop below that level when it is time to pay off the borrowed shares. Buying back borrowed stocks to close out a short position, be it profit or loss, is known as short covering.

Robinhood has since lifted the boundaries of trade.

Lawmakers from both major parties criticized Robinhood for these restrictions. One of the first barbs came when Rep. Ro Khanna, D-Calif., A progressive representing Silicon Valley, called for “more regulation and equality” in financial markets in a statement on Robinhood’s move. Rep. Alexandria Ocasio-Cortez, DN.Y., and Sens. Ted Cruz, R-Texas, and Elizabeth Warren, D-Mass., Also blasted the company’s ruling.

The Senate Banking Committee and the House Financial Services Committee intend to hold hearings in the coming weeks on recent restrictions from trading platforms such as Robinhood. Vlad Tenev, the trading company’s CEO, is expected to appear before the House Committee on February 18.

The two lobbyists listed in the new file are Beth Zorc, Associate General Counsel of Robinhood, who has previous experience with Wells Fargo and the Senate Banking Committee, and Lucas Moskowitz, the company’s Deputy General Counsel. Moskow’s previous job included serving as chief of staff for former Securities and Exchange Commission chairman Jay Clayton.

Robinhood spent $ 275,000 on lobbying in 2020, according to the non-partisan Center for Responsive Politics. The companies commissioned by her campaigned for the SEC.

Another proposal that Robinhood is seeking is the Inclusive Prosperity Act of 2019. The bill was approved two years ago by Rep. Barbara Lee, D-Calif., And Sen. Bernie Sanders, I-Vt. Legislation hopes to impose a consumption tax on the transfer of ownership of certain securities, including any equity interest in a company.

A bill introduced by Rep. Patrick McHenry, RN.C., is also under review by Robinhood, according to the lobbying disclosure report. The law, which was introduced in 2020, aims to “limit the taxation of taxes and fees on transactions of certain participants in the securities industry and for other purposes”.

Categories
Business

UK targets unfold of South Africa variant

An ambulance worker collects Covid-19 test kits during a door-to-door bulk testing operation in Maidstone, United Kingdom on Tuesday, February 2, 2021.

Bloomberg | Bloomberg | Getty Images

LONDON – UK is working hard to contain the spread of additional mutations in the coronavirus. The more worrying variant, first spotted in South Africa, occurs spontaneously in different parts of the country.

UK Health Secretary Matt Hancock said the country was “coming down hard” on the South African variant after 105 cases were reported, and 11 of those cases had no connection to international travel.

Because of this, the UK has launched an expanded testing program to include around 80,000 people living in areas where cases with the mutation have been found. Tests are offered door-to-door and positive cases are then scored to see if they are caused by the South African variant.

People in these areas have been told to consider limiting the time they spend outside their homes as health officials struggle to prevent the spread of another contagious variant. A mutation now known as the “British Mutation” has already become the dominant tribe in many parts of the country.

Earlier this week, Public Health England released another technical briefing warning that a handful of coronavirus cases of the variant first found in the UK were in fact further mutated to include the E484K mutation, first seen in the variant of was South Africa.

Mutations in a virus are normal; Viruses are constantly mutating. However, experts and policy makers are concerned about mutations that allow the virus to spread much faster.

The South African variant had other concerned experts who were concerned that coronavirus vaccines developed last year may not be as effective against it. There were also concerns that the South African variant might evade antibodies.

Vaccine manufacturers have indicated that there is little evidence that their shots are ineffective against new variants, and that they should be able to adapt their vaccines to new variants in a few weeks if necessary.

On Wednesday, the British pharmaceutical company GlaxoSmithKline and the German biotech company CureVac announced a € 150 million contract to develop Covid vaccines that target multiple variants in one product. The partners hope to be able to bring such vaccines to market in 2022.

The UK’s vaccination program continues to pick up pace and is well on its way to growing its four top priority groups (those over 70, residents and workers in nursing homes, frontline health and social workers and the most clinically vulnerable) to around 15 million vaccinate people until mid-February.

By February 1, over 9.6 million people had received a first dose of the vaccine, and just under 500,000 had received two doses, according to government figures.