 U.S. Secretary of State Antony Blinken with Egypt's President Abdel Fatah al-Sissi at an earlier meeting in 2021 The Biden administration has put a halt to a $130M security aid package to Egypt because the country has not met human rights conditions attached to the funds. Secretary of State Antony J. Blinken spoke with Egyptian Foreign Minister Sameh Shoukry on Thursday informing him of the decision, which is expected to be finalized on Sunday. More: - The administration has a Jan. 30 deadline for a decision on releasing the funds.
- The U.S. provides over $1B per year to Egypt as military assistance.
- Legislative officials confided with The Washington Post that the conditions for the aid included suspending the prosecution of civil society advocates in Case 173 and dismissing charges against 16 persons.
- Under Case 173, certain organizations were accused of receiving illegal foreign funding.
- Several individuals have been arrested on the pretext of spreading false information.
- The State Department's report on human rights abuses highlights the Egyptian government's involvement in extrajudicial killings, restriction of free speech, and targeting of LBGTQ individuals.
- The decision to pull the aid came amid pressure from U.S. lawmakers and human rights activists.
- "The message here is that Egypt can no longer take our taxpayers' aid for granted, or assume that our leaders will always protect the relationship no matter what they do," Rep. Tom Malinowski (D-NJ), Egypt Human Rights Caucus co-chair, said in a statement.
- The Egyptian government launched its human-rights strategy in September last year, but critics allege that the foundation is taking action just to appease foreigners without tackling the core issues.
| |
A federal jury found manufacturer 3M liable for hearing damage two army veterans suffered after using defective earplugs and granted them $110M as compensation. Ronald Sloan and William Wayman are set to receive $15M each in compensatory damages. The U.S. District Court, Northern District of Florida, jury granted an additional $40M in punitive damages. More: - 3M has said it will appeal.
- The plaintiffs' lawyer argued that the veterans suffered from tinnitus and hearing loss even after using the Combat Arms earplugs during their deployments in Iraq and Afghanistan.
- The earplugs, now discontinued, were manufactured by 3M subsidiary Aearo Technologies.
- 3M is facing litigation filed by almost 300,000 service members.
- Out of the 10 cases for which the results were declared, 3M won five while plaintiffs won the other five.
- In successful lawsuits, the nine service members were awarded compensation between $1.7M to $22.5M each.
- The company had already settled a whistle-blower lawsuit with the DOJ for $9.1M, which alleged that 3M knowingly sold the defective earplugs. The settlement terms did not determine liability.
| |
 A message from SUPERWORLD Looking for a roadmap to the Metaverse? Join the SuperWorld journey and experience the virtual world in Augmented Reality (AR)! SuperWorld is digitally mapped over the surface of the Earth, with plots of virtual real estate represented as NFTs, each corresponding to real-world space and all starting at 0.1 Ether (ETH). Stake your claim in the Metaverse and get started by visiting SuperWorldapp.com Get Started
| |
 Crews cleaning oil in a Peruvian beach Four executives of Spanish oil company Repsol were barred from leaving Peru as the nation investigates a massive oil spill. Three company directors and the La Pampilla refinery’s manager are part of the travel ban lasting 18 months. More: - The four will not appeal and intend to cooperate with authorities as they investigate the disaster.
- On Jan. 15, over 6,000 barrels of crude oil were spilled into the ocean as a ship unloaded the oil at the La Pampilla Refinery.
- While unloading, the ship was struck by high waves caused by the underwater volcanic eruption in Tonga.
- Peruvian President Pedro Castillo declared a state of environmental emergency.
- Peruvian foreign minister Oscar Maurtua said the company should compensate coastal fishermen whose livelihood has been affected by the oil spill.
- Repsol has denied that it should accept responsibility for the incident.
- A spokeswoman said the company asked the Peruvian Navy about tsunami risk and got the go-ahead to unload.
- Repsol has organized 1,350 trained people to clean the ocean and shores.
| |
 Koala at Australian Reptile Park Good news: In the next four years, the Australian government aims to invest $35M ($50M Australian) to protect and increase the koala population. The recent investment increased the nation’s total commitment since 2019 to $52M. More: - Wildfires, droughts, and land clearing have resulted in a 30% reduction in the Koala population since 2018, per the Australian Koala Foundation Sept. 2021 report.
- The koala population has also been shrinking due to the recent spread of chlamydia in the species.
- While the International Union for the Conservation of Nature estimates the wild koala population to be between 100,000 and 500,000, the Australian Koala Foundation says the number is likely closer to 58,000.
- Prime Minister Scott Morrison said the incoming funds will be used to study the koala population, restore their habitat, strengthen treatment and healthcare, and for health research.
| |
 A message from ROOFSTOCK Looking to diversify your portfolio? Consider making SFRs part of your investing strategy: - Annual returns in the $4 trillion SFR market are comparable to stock market returns and outperform bond returns—but with less volatility.*
- SFR returns are highly uncorrelated to the stock market, so investors who add SFRs to their portfolios may reduce their risk exposure.
- SFRs have historically offered more attractive, risk-adjusted returns than the S&P 500 and bonds,* according to a Roofstock comparison of average annual returns from 1992 to 2017 by asset class, divided by standard deviation.
Roofstock aims to make evaluating, purchasing and owning real estate as easy as investing in stocks. Visit roofstock.com to browse properties. Learn More * See “Single-Family Rentals Offer Strong Investment Alternative to Stocks and Bonds, With Far Less Volatility,” available at: https://learn.roofstock.com/blog/single-family-rentals-offer-strong-investment-alternative-to-stocks-and-bonds-with-far-less-volatility.
| |
The Argentine government and the International Monetary Fund have agreed to restructure a $44B bailout, according to President Alberto Fernández. The bailout is expected to help Argentina, which has been financially unstable since 2018, avoid a debt default and currency depreciation. More: - The agreement with the IMF will involve a gradual reduction of the nation’s budget deficit.
- Argentina was unable to receive funding from global financial markets without an IMF restructuring in place.
- Although the country’s economy grew 9.8% in 2021, growth is expected to slow to 2.2% this year.
- Inflation surpassed 50% last year as the government ramped up the printing of fiat currency to boost spending.
- IMF had funded Argentina’s bailout in 2018.
- It was the 22nd time that it provided funds to Argentina.
- The bailout was the biggest that the IMF has distributed.
- Economists argue that the nation has been plagued with unsustainable debt borrowings, which are worsened by its excessive public spending.
- On Friday, Argentina faced a $700M payment to the IMF.
| |
 A cell tower near Los Angeles International Airport The Federal Aviation Administration announced it reached an agreement with AT&T and Verizon for deploying 5G networks near airports. The FAA and network service providers were engaged in a continued argument after the former raised concerns about the impact of 5G networks on aircraft safety systems. More: - Airlines and the FAA were concerned about C-band frequencies interfering with flight systems that operated on an adjacent frequency and threatening flight safety systems.
- Verizon and AT&T agreed that it would not activate their 5G frequencies within a two-mile radius from the airports.
- The service providers had earlier delayed the rollout by over two weeks on FAA's request.
- The mobile network companies will provide accurate locations of wireless transmitters and will help analyze the impact of the 5G network on sensitive aircraft instruments.
- The FAA will use the data to ensure an uninterrupted path for takeoff and landing of aircraft and relay the feedback to the mobile operators so that they can safely turn on more wireless towers.
- The FAA has still taken a precautionary approach and issued NOTAM's prohibiting operations involving specific planes on a few airports.
- None of the commercial airliners are expected to be affected, but a few regional jets are subject to flight restrictions.
| |
Quick Hits - With impact.com, you can partner with influencers, affiliates, content creators, and more to build trust with consumers, all while driving more sales.*
- The governors of New York and New Jersey have issued emergency warnings ahead of the winter storm that is sweeping through the East Coast. Massachusetts is forecasted to receive 24-30 inches of snow.
- The House committee looking into the insurgency in the U.S. Capitol summoned more than a dozen people on Friday, alleging that they falsely declared Donald Trump the winner of the 2020 election in seven critical states.
- Ashleigh Barty won the Women's singles title at the Australian Open, becoming the first Australian player since 1978 to win the title.
- Laos police seized 36.5 million methamphetamine tablets from the northwestern province of Bokeo. This is the second-largest drug raid since seizing 55.6 million meth pills in October.
- New Zealand Prime Minister Jacinda Ardern has isolated herself following close contact with a person affected with COVID-19.
- Create immersive virtual, hybrid, and in-person event experiences for your audience, no matter where they are — View a Demo.*
*This is sponsored content.
| |
Visualization of the day 
SpaceX’s effect in driving down space flight costs.
| |
Upcoming Events: - February 01 - Venturing in VC - Episode #5 with Janine Sickmeyer (Overlooked Ventures) (Register Here)
- February 03 - Blockchain Gaming & Play-to-Earn Economies (Register Here)
- February 09 - Interview with David King Lassman (GigXR) (Register Here)
- February 09 - A Twitter Spaces event with Bored Elon Musk (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Efficient Marketing Strategies in a Post iOS 14 World (Register Here)
- February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 03 - The $12B Appetite for Amazon Aggregators (Register Here)
- March 10 - NoCode's Impact on the Gig Economy (Register Here)
- March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here)
| |
 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
In SuperWorldapp.com users can explore and create AR, engage in a virtual real estate marketplace, or buy/sell NFTs in our Salon. | |
Roofstock makes investing in single-family rentals radically accessible, cost-effective, and simple. | |
Comments
Post a Comment