By Alun John

(Reuters) -Consumer-focused digital tokens issued by private companies could be better than central bank-issued tokens assuming the companies can be regulated appropriately, the Australian central bank governor said on Sunday.

Phillip Lowe was speaking in a panel discussion at the G20 finance officials meeting in Indonesia that was streamed online. At the same discussion, the Hong Kong Monetary Authority (HKMA) chief said greater scrutiny of such tokens could also help reduce risks from decentralised finance (DeFi) projects, part of the crypto currency ecosystem.

Many central banks around the world are developing so-called central bank digital currencies (CBDCs), either retail tokens to be used directly by consumers or wholesale tokens to be used by banks within the financial system.

This is partly in response to the development of so-called stablecoins, privately issued tokens such as Tether and USDC, whose value is pegged to that of a traditional asset, often the U.S. dollar, which are typically used as a store of value and to make payments.

The risk of such tokens for financial systems was underscored in May when crypto markets were sent tumbling by the collapse of one stablecoin TerraUSD and its paired token Luna, though these helped underpin a network of DeFi applications, rather than being used to make real world payments.

“If these tokens are going to used widely by the community they are going to need to be backed by the state, or regulated just as we regulate bank deposits,” said Lowe.

“I tend to think that the private solution is going to be better – if we can get the regulatory arrangements right – because the private sector is better than the central bank at innovating and designing features for these tokens, and there are also likely to be very significant costs for the central bank setting up a digital token system,” he said.

Lowe and his fellow panelists agreed that more needed to be done to create a sufficiently strong regulatory system for such tokens.

HKMA CEO Eddie Yue said more scrutiny of stablecoins could also help reduce risks from DeFi, which aims to use computer code to remove the need for financial intermediaries from lending, investing and other financial activities.

Stablecoins and crypto exchanges are gateways to DeFi projects, and Yue said it was easier to regulate them than the products themselves.

“Despite the Terra-Luna incident I think crypto and DeFi won’t disappear – though they might be held back – because the technology and the bushiness innovation behind these developments are likely to be important for our future financial system,” Yue said.

(Reporting by Alun John in Hong Kong; Editing by Muralikumar Anantharaman)

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(Reuters) – United Arab Emirates authorities have detained Asim Ghafoor, a U.S. citizen and civil rights attorney who previously served as a lawyer for slain journalist Jamal Khashoggi, said U.S.-based rights group DAWN of whose board Ghafoor is a member.

A UAE government official confirmed Ghafoor was arrested while transiting through Dubai International Airport on July 14 on charges related to an in absentia conviction for money laundering pursuant to evidence heard by Emirati courts.

A senior U.S. administration official had told reporters earlier on Saturday that the United States was aware, but could not say whether President Joe Biden would raise the issue in bilateral talks with the UAE president on the sidelines of an Arab summit in Saudi Arabia.

“There’s no indication that it has anything to do with the Khashoggi issue,” the official added.

Saudi journalist Khashoggi was killed by Saudi agents in 2018 at the kingdom’s Istanbul consulate in an operation that U.S. intelligence says Saudi Arabia’s Crown Prince Mohammed bin Salman approved. The prince denies involvement.

Democracy for the Arab World Now (DAWN) said in a statement on Friday that Ghafoor, a civil rights attorney based in Virginia, was en route to Istanbul to attend a family wedding.

The Emirati official, responding to a Reuters request for comment, said the UAE has granted a request by the U.S. embassy to conduct a consular visit and that since the original trial was held in absentia, Ghafoor is permitted to request a retrial.

“A request has been received and granted, resulting in the case being reopened, and the relevant legal proceedings are underway,” the official said.

DAWN cited U.S. consular officials as saying the lawyer was being held in a detention facility in Abu Dhabi and that Ghafoor stated he had no knowledge of any legal matter against him.

It said the conviction was obtained “without due process” and called for his immediate release.

Rights groups say the UAE has jailed hundreds of activists, academics and lawyers in unfair trails on broad charges.

The UAE has rejected such accusations as baseless and says it is committed to human rights under the country’s charters.

Biden had said he would raise human rights during his trip to the region which concluded on Saturday.

(Reporting by Ghaida Ghantous and Jarrett Renshaw; Editing by Mark Potter and Raju Gopalakrishnan)

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BEIJING – China’s monetary policy has ample room and sufficient tools, including further cutting banks’ reserve requirements, to cope with new challenges amid a shaky economic recovery, a commentary in the state-owned Securities Times said on Sunday.

China’s economy grew just 0.4% in the second quarter from the same period last year, down sharply from 4.8% growth for the first three months, the government said on Friday, as widespread lockdowns to extinguish outbreaks of COVID-19 hobbled the world’s second-largest economy.

While June data showed signs of improvement, analysts do not expect a rapid recovery as China sticks to its tough zero-COVID policy, the country’s property market is in a deep slump and the global outlook is darkening.

“Looking out to the second half of the year, the foundation of our economic rebound is still not solid and economic operations still face many uncertain and unstable factors,” Sunday’s commentary said.

“In terms of coping with new challenges and changes that may exceed expectations, monetary policy has sufficient space and ample tools.”

But many analysts believe the People’s Bank of China has only limited room for further easing due to worries about capital outflows, as the U.S. Federal Reserve and other central banks aggressively raise interest rates to fight soaring inflation.

The Securities Times commentary cited China’s relatively constrained monetary policy stance during the pandemic, preemptive policies to stabilise capital outflows, including cuts in banks’ foreign exchange reserves and a more flexible yuan currency, among factors that would provide a buffer to outside shocks.

“We will … keep the yuan exchange rate basically stable on a reasonable and balanced level and proactively and steadfastly manage new challenges and new changes,” it said.

(Reporting by Stella Qiu and Ryan Woo; Editing by William Mallard)

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PITTSBURGH, PA – The Pittsburgh Police Department reported a shooting at 7:30 pm on Saturday where a man was shot at ten times, with bullets striking him in each leg.

Pittsburgh Police responded to a ten-round ShotSpotter alert just after 7:30 p.m. in the 600 block of Brighton Woods Road.

“Arriving units located an adult male victim with gunshot wounds to both legs. Officers applied two tourniquets until EMS arrived. Medics transported him to the hospital in stable condition,” police said.

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LONDON – The British government launched an “Aviation Passenger Charter” on Sunday to help passengers know their rights if they are faced with problems at airports after the widespread disruption seen this year.

Long queues and cancelled flights caused by staff shortages have caused chaos at times, prompting airlines to cut back their schedules as the industry struggles to keep up with a surge in demand after the COVID-19 pandemic.

The new charter will help passengers know what to do if they are confronted by cancellations, delays or missing baggage, the government said, with guidance on how to complain if they feel they have been treated unfairly.

“Passengers deserve reliable services, and to be properly compensated if things don’t go to plan, and the chaotic scenes we’ve seen at airports are unacceptable,” transport minister Grant Shapps said.

“The new charter will help to give UK passengers peace of mind as they enjoy the renewed freedom to travel, whether for holidays, business or to visit loved ones.”

Last month, the government published a 22-point support plan to avoid further disruption, including telling airlines to run “realistic” summer schedules and promising to speed up security checks. It said these were now being processed in “record time”.

In a sign of the problems, London’s Heathrow Airport this week asked airlines to stop selling tickets for summer departures and capped the number of passengers flying from Britain’s busiest hub at 100,000 a day.

(Reporting by Michael Holden; Editing by Nick Macfie)

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By David Shepardson

LONDON – U.S. airplane maker Boeing Co trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market.

Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for about 75% of planes.

Boeing’s new market outlook, released on Sunday ahead of the Farnborough Airshow, is down from its previous rolling 20-year-forecast of 43,610 deliveries.

The new estimate excludes the Russian market and its projection of 1,540 airplanes, because of the war in Ukraine and uncertainty about when manufacturers could again sell planes to Russian carriers.

Boeing slightly boosted its forecast for demand over the next 10 years to 19,575 airplane deliveries — a higher projection even excluding the Russian market.

“That’s a function of a depressed environment in 2021 falling off and a new trend year in 2031 being added,” Darren Hulst, Boeing vice president for commercial marketing, told reporters in a briefing ahead of the Sunday release. “It comes very close to our 2019” outlook if Russia was included.

Boeing also dropped its industrywide passenger traffic forecast growth rate slightly to 3.8% from 4%, but boosted its cargo growth forecast to 4.1% from 4% last year. It cut its fleet growth forecast to 2.8% from 3.1%. Its forecast for widebody deliveries over 20 years fell from 7,670 to 7,230.

Boeing still projects the global airline fleet by 2041 will nearly double as it still sees a worldwide aviation demand COVID-19 recovery by early 2024.

Over the next 20 years Boeing said “long-term fundamentals remain intact.”

“Our view of medium-term recovery — when the industry gets back to 2019 levels of global airline traffic — is largely unchanged” since 2020, Hulst said. “Overall, we still see late 2023, early 2024 as the time where the industry recovers to full or at least the level of pre-pandemic traffic.”

Boeing sees strong near-term demand for aircraft despite recession risks.

“The global industry is still on a recovery trajectory back to where the normal relationship of GDP and traffic would be,” Hulst said. “Any small blip from an economy standpoint would be probably overwhelmed by the demand that exists as a result of those normal economic relationships.”

Boeing also projects the freighter fleet will grow 80% by 2041. Air cargo is performing at “historic levels,” Hulst said, saying it is in part “a function of the increasing strategic value of air cargo relative to supply chains that are challenged and shipping that is challenged.”

Boeing sees e-commerce networks as helping to drive a “strategic shift to air cargo even into the medium- and long-term. … This isn’t just a blip in terms of shipping versus air.”

Hulst said the number of routes with more than one airline operating has more than doubled over the last two decades — representing 70% of all capacity. It demonstrates “the continuous innovation that airlines need to have to continue to compete at lower costs to attract more and more traffic.”

Air cargo still only accounts for 1% of global trade. “A small shift in terms of mode of transportation, of key elements of trade, makes a big impact in terms of demand for air cargo,” Hulst said.

(Reporting by David Shepardson; Editing by Leslie Adler)

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(Reuters) – Boeing on Saturday said it is “disappointed” that the union representing nearly 2,500 employees at the U.S. planemaker’s facilities in the St. Louis area has recommended rejection of management’s contract offer.

The International Association of Machinists and Aerospace Workers (IAM), the union representing the workers, said in an earlier statement that it recommended rejecting the company’s “last, best, and final” contract offer.

The contract is set to expire on Monday, July 25. After a seven-day waiting period, the workers could begin picketing on Aug. 1 if they vote to reject the contract offer and go on strike, the union said.

Boeing said it remains “hopeful that our employees will see the value in this offer and vote yes” to accept its offer, which the company said provides “highly competitive” wage increases and cash and stock immediately and also includes one of the “most lucrative” 401(k) retirement plans in the country.

Tom Boelling, an IAM official, said Boeing had failed to meet members’ needs on a number of issues. “We will fight for a contract the membership deserves,” he said in the union statement.

(Reporting by Jose Joseph and Shivani Tanna in Bengaluru; Editing by Paul Simao)

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By Layli Foroudi and Sergio Goncalves

PARIS/LISBON -Wildfires raged in southwestern France and Spain on Saturday, forcing thousands of people to be evacuated from their homes as blistering summer temperatures put authorities on alert in parts of Europe.

About 14,000 people had been evacuated from France’s Gironde region by Saturday afternoon as more than 1,200 firefighters battled to bring the flames under control, regional authorities said in a statement.

“We have a fire that will continue to spread as long as it is not stabilised,” Vincent Ferrier, deputy prefect for Langon in Gironde, told a news conference.

Wildfires have torn through France in recent weeks, as well as other European countries including Portugal and Spain, and more than 10,000 hectares (25,000 acres) of land was on fire in the Gironde region on Saturday, up from 7,300 hectares on Friday.

In the latest weather warning, 38 of France’s 96 departments were listed on “orange” alert, with residents of those areas urged to be vigilant. The heatwave in western France is expected to peak on Monday, with temperatures climbing above 40 degrees Celsius (104 Fahrenheit).

In neighbouring Spain, firefighters were battling a series of blazes on Saturday after days of unusually high temperatures that reached up to 45.7 C (114 F).

The nearly week-long heatwave has caused 360 heat-related deaths, according to figures from the Carlos III Health Institute.

More than 3,000 people have been evacuated from homes due to a large wildfire near Mijas, a town in the province of Malaga that is popular with northern European tourists, the region’s emergency services said in a tweet early on Saturday.

Many were taken to shelter in a provincial sports centre.

“The police drove up and down the road with their sirens on and everyone was told to leave. Just leave. No instructions where to go,” said British pensioner John Pretty, 83.

“It’s frightening … because you don’t know what’s happening,” said Belgian resident Jean-Marie Vandelanotte, 68.

Elsewhere in Spain, thick black plumes of smoke rose into the air near Casas de Miravete in the Extremadura region as helicopters dumped water on flames that have scorched 3,000 hectares, forced the evacuation of two villages and threatened to reach the Monfrague national park.

Fires were also burning in the central region of Castille and Leon and in Galicia in the north.

There was some respite for firefighters in Portugal, where temperatures dropped across most of the country on Saturday after reaching about 40 C (104 F) in recent days.

“We have had big fires and we don’t want them to be reactivated again … We will keep extreme vigilance this weekend,” Emergency and Civil Protection Authority Commander Andre Fernandes told reporters.

A total of 39,550 hectares (98,000 acres) was ravaged by wildfires from the start of the year until mid-June, more than triple the area razed by fires in the same period last year, data from the Institute for the Conservation of Nature and Forests showed.

An area equivalent to almost two-thirds of that has burned during fires in the last week.

Portugal’s Health Ministry said 238 people had died as a result of the heatwave between July 7 and 13, most of them elderly people with underlying conditions.

MOROCCO BLAZES

Across the Mediterranean from Europe, blazes in Morocco ripped through more than 2,000 hectares of forest in the northern areas of Larache, Ouazzane, Taza and Tetouane, killing at least one person, local authorities said.

More than 1,000 households were evacuated from their villages and water-carrying planes helped extinguish most of the fires by Friday night, though firefighters were still struggling to douse three hot spots near Larache.

In Britain, the national weather forecaster has issued its first red “extreme heat” warning for parts of England on Monday and Tuesday.

With possibly record-breaking temperatures expected, the government’s emergency response committee was due to meet later on Saturday.

The highest recorded temperature in Britain was 38.7 C (101.7 F), recorded in Cambridge on July 25, 2019.

(Reporting by Layli Faroudi in Paris, Sergio Gonclaves in Lisbon, Mariano Valladolid and Jon Nazca in Malaga, Ahmed Eljechtimi in Rabat, and Jessica Jones and Michael Holden in LondonWriting by Helen PopperEditing by Frances Kerry and Christina Fincher)

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By Tom Balmforth and Max Hunder

KYIV -Russia said on Saturday its forces would step up military operations in Ukraine in “all operational areas” as Moscow’s rockets and missiles pounded cities in strikes that Kyiv says have killed dozens in recent days.

Rockets hit the northeastern town of Chuhuiv in Kharkiv region overnight, killing three people including a 70-year-old woman and wounding three others, regional governor Oleh Synehubov said.

“Three people lost their lives, why? What for? Because Putin went mad?” said Raisa Shapoval, 83, a distraught resident sitting in the ruins of her home.

To the south, more than 50 Russian Grad rockets pounded the city of Nikopol, on the Dnipro River, killing two people who were found in the rubble, the region’s governor Valentyn Reznichenko said.

Ukraine says at least 40 people have been killed in such attacks on urban areas in the last three days. Russia says it has been hitting military targets.

Russian Defence Minister Sergei Shoigu ordered military units to intensify their operations to prevent Ukrainian strikes on eastern Ukraine and other areas held by Russia, where he said Kyiv could hit civilian infrastructure or residents.

“Clearly, preparations are now under way for the next stage of the offensive,” said Vadym Skibitskyi, a spokesman for Ukrainian military intelligence, adding that there was Russian shelling along the entire front line and active use of attack helicopters.

Shoigu, a close ally of Russian President Vladimir Putin, was shown in military fatigues at a command post on the defence ministry’s Zvezda TV channel being briefed on the war and awarding “Golden Star” medals for heroism to two generals.

His remarks appeared to be a direct response to what Kyiv says is a string of successful strikes carried out on 30 Russian logistics and ammunitions hubs using several multiple launch rocket systems recently supplied by the West.

Ukraine’s defence ministry spokesperson said on Friday that the strikes were causing havoc with Russian supply lines and had significantly reduced Russia’s offensive capability.

On Saturday, the Ukrainian military said Russia appeared to be regrouping units for an offensive towards Sloviansk, a symbolically important city held by Ukraine in the Donetsk region.

WAR OF ATTRITION

While the focus of the war has moved to Ukraine’s eastern Donbas region, Russian forces have been striking cities elsewhere in the country with missiles and rockets in what has become an increasingly attritional conflict.

Moscow, which launched what it called its “special military operation” against Ukraine on Feb. 24, says it uses high-precision weapons to degrade Ukraine’s military infrastructure and protect its own security. It has repeatedly denied targeting civilians.

Kyiv and the West say the conflict is an unprovoked attempt to reconquer a country that broke free of Moscow’s rule with the break-up of the Soviet Union in 1991.

In one recent attack that stoked outrage from Ukraine and its Western allies, Kalibr cruise missiles hit an office building in Vinnytsia, a city of 370,000 people about 200 km (125 miles) southwest of Kyiv, on Thursday.

Kyiv said the strike killed at least 23 people and wounded dozens. Among the dead was a 4-year-old girl with Down’s Syndrome named Liza, found in the debris next to a pram. Images of her playing shortly before the attack quickly went viral.

Russia’s defence ministry has said the strike on Vinnytsia was directed at a building where top officials from Ukraine’s armed forces were meeting foreign arms suppliers.

Late on Friday, Russian missiles hit the city of Dnipro, about 120 km (75 miles) north of Nikopol, killing three people and wounding 15, Reznychenko, governor of the Dnipropetrovsk region that includes both cities, said on Telegram, adding that an industrial plant and a busy street next to it were hit.

“When the blast wave hit, there were few shards because all my windows were taped up,” a local woman who gave her name as Klavdia told Reuters.

“The people whose windows were not protected like this, there was a lot of blood, their injuries were horrible. I saw a small child all covered in blood. It was awful,” she said.

Russia said it had destroyed a factory in Dnipro making missile parts.

CONFLICT DIVIDES G20

The war dominated a meeting of G20 finance ministers in Indonesia. U.S. Treasury Secretary Janet Yellen said differences over the conflict had prevented the finance chiefs and central bankers from issuing a formal communique but that they agreed on a need to address a worsening food security crisis.

“This is a challenging time because Russia is part of the G20 and doesn’t agree with the rest of us on how to characterize the war,” Yellen said.

Western countries have imposed tough sanctions on Russia and have accused it of war crimes in Ukraine, which Moscow denies. Other G20 nations, including China, India and South Africa, have been more muted in their response.

In one spillover from the conflict, a blockade restricting exports of Ukrainian grain has prompted warnings it could put millions in poorer countries at risk of starvation.

Despite the bloodshed, both Russia and Ukraine described progress towards an agreement to lift a blockade in recent talks. Turkey, which is mediating, has said a deal could be signed next week.

(Reporting by Reuters bureauxWriting by Raju Gopalakrishnan, Alex Richardson, Matt Spetalnick; Editing by William Mallard, Nick Macfie, Frances Kerry and Paul Simao)

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By Brad Brooks

(Reuters) – A federal judge in Tennessee has temporarily blocked Biden administration directives allowing transgender workers and students to use bathrooms and locker rooms and join sports teams that correspond with their gender identity.

Judge Charles Atchley Jr. of the Eastern District of Tennessee ruled on Friday that the administration’s directives would make it impossible for some states to enforce their own laws on transgender athletes’ participation in girls’ sports and access to bathrooms.

A coalition of 20 Republican attorneys general brought a lawsuit last year against the federal government, noting that they stood to lose significant federal funding as the Biden directives were in conflict with their own state laws.

Atchley agreed with that, writing in his order that the states “cannot continue regulating pursuant to their state laws while simultaneously complying with Defendants’ guidance.”

Oklahoma Attorney General John O’Connor, one of the plaintiffs, said in a written statement on Saturday that Atchley’s order “is a major victory for women’s sports and for the privacy and safety of girls and women in their school bathrooms and locker rooms.”

The Justice Department, the Department of Education and the Equal Employment Opportunity Commission are named as defendants in the lawsuit. None immediately replied to requests for comment on Saturday. The three had earlier requested that Atchley dismiss the states’ lawsuit, a motion the judge denied in his Friday ruling.

The coalition of Republican states argued the Biden administration directives improperly expanded on a 2020 U.S. Supreme Court ruling that extended anti-discrimination protections to transgender workers.

The top court in Bostock v. Clayton County said employers cannot terminate workers because of their gender identity or sexuality. The justices expressly declined to decide if the ruling applied to sex-segregated bathrooms and locker rooms.

The Supreme Court in Bostock held that the bar on workplace sex discrimination in Title VII of the Civil Rights Act of 1964 extended to bias based on sexual orientation and gender identity.

The Department of Education in its guidance issued last year concluded that because Title IX, which bars sex bias in federally funded educational programs, borrowed language from Title VII, Bostock also applied to schools.

The department said, for example, that preventing a transgender high school girl from using the girls’ restroom or trying out for the girls’ cheerleading team would violate Title IX.

Atchley on Friday agreed with the states, writing in his ruling that the Supreme Court in Bostock “explicitly refused to decide whether ‘sex-segregated bathrooms, locker rooms, and dress codes’ violate Title VII.”

(Reporting by Brad Brooks in Lubbock, Texas; Editing by Daniel Wallis)

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SKOPJE – Lawmakers in North Macedonia on Saturday passed a French-brokered deal aimed at settling a dispute with Bulgaria and clearing the way to long-due European Union membership talks.

With 68 votes, the 120-seat parliament voted in favour of the agreement. Opposition lawmakers did not participate in the vote and left the room.

“Today we are opening a new perspective for our country…from today we are moving with accelerated steps to join the EU family,” Prime Minister Dimitar Kovacevski said in a press conference after his cabinet approved parliament’s conclusions.Kovacevski said the first meeting between his government and the EU would be held on Tuesday.

The deal proposes that North Macedonia’s constitution be amended to recognise a Bulgarian minority. The proposal does not require Bulgaria to recognise the Macedonian language.

In exchange, Bulgaria will allow its West Balkan neighbour to start membership talks with the EU. After the agreement was adopted, governing party deputies rolled out EU and North Macedonian flags.

European Commission President Ursula von der Leyen, who travelled to Skopje and urged lawmakers on Thursday to vote the deal, said the vote “paves the way for opening the accession negotiations rapidly.”

Albania’s Prime Minister Edi Rama, whose country has been held back because the EU has linked its progress to that of North Macedonia, said an Albanian delegation would travel to Brussels on Monday to start membership talks.

U.S. Secretary of State Antony Blinken welcomed the vote, saying Washington recognised “the difficult tradeoffs considered in this compromise, which acknowledges and respects North Macedonia’s cultural identity and the Macedonian language.”

The leader of the biggest opposition party VMRO-DPMNE, Hristijan Mickoski, whose party protested against the deal since the beginning of July, said “nothing was over”. He added his party would not back constitutional changes which require two-thirds of the vote.Bulgaria’s parliament lifted its veto on Macedonian-EU talks last month. This also triggered protests in Bulgaria and contributed to a no-confidence vote that toppled the government.

North Macedonia, a former Yugoslav republic, has been a candidate for EU membership for 17 years but approval for talks was first blocked by Greece and then by Bulgaria.

(Reporting by Fatos Bytyci and Ognen Teofilovski; Editing by Christina Fincher)

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By Gergely Szakacs

BUDAPEST – Around 1,000 Hungarians demonstrated against Prime Minister Viktor Orban’s government on Saturday in the latest of a series of smaller demonstrations this week since his right-wing Fidesz party passed legislation sharply raising taxes on small firms.

Nationalist Orban is facing his toughest challenge yet since taking power in a 2010 landslide, with inflation at its highest in two decades, the forint plumbing record lows and European Union funds in limbo amid a dispute over democratic standards.

The blockade of a bridge in Budapest on Tuesday failed to derail the approval of a government motion to increase the tax rate for hundreds of thousands of small firms, defying criticism from some business groups and opposition parties.

On Wednesday, Orban’s government also curtailed a cap on utility prices for higher-usage households, rolling back one of the 59-year-old premier’s signature policies in recent years due to a surge in electricity and gas prices amid the war in Ukraine.

“I have an acquaintance who only heats with electricity. His monthly power bill has been 30,000 forints ($75) so far, which is not a lot, but from now on he will be paying 153,000,” said Miklos Nyiri, a 70-year-old pensioner at the rally.

“He is a pensioner, so the pension will be eaten up by the power bill, and they will be left grazing in the field,” he said, adding however that the small-scale protest was unlikely to force Orban to change tack.

Saturday’s rally was called by small-town mayor Peter Marki-Zay, Orban’s independent challenger, whose opposition alliance suffered a crushing defeat in an April parliamentary election.

The low number of participants at the rally indicated that despite lurking discontent with Orban’s latest reforms to shore up Hungary’s state finances, anti-government sentiment was struggling to gain traction even in Budapest, where the opposition had its strongest showing in April.

Ildiko Hende, 52, who works as a cleaner in a bank, also lamented the low turnout at the rally.

“I have been working for more than 30 years, but what is going on in this country right now is hell incarnate,” she said.

Despite Orban capping the prices of fuel and some basic foods, inflation has surged to its highest in two decades, at 11.7% year-on-year in June, forcing the central bank into its steepest rate tightening cycle since the collapse of Communist rule.

Even so, the forint is skirting record lows versus the euro, feeding into inflationary pressures.

“I just want to be able to live a normal life, not having to pinch pennies at the end of every month,” Hende said. “Prices are just so high that it makes you go crazy. This is really not sustainable.”

($1 = 397.2500 forints)

(Reporting by Gergely Szakacs; editing by Clelia Oziel)

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By Jarrett Renshaw

JEDDAH, Saudi Arabia – President Joe Biden and Saudi Crown Prince Mohammed bin Salman took a step to mending their troubled relationship with a fist bump, but the U.S. leader left the kingdom on Saturday with few big successes and doubts as to whether the visit was worth it.

Biden’s four-day trip to Israel and Saudi Arabia, his first to the Middle East as president, aimed to reset ties with the Gulf Arab oil giant, demonstrate U.S. commitment to the region and counter the rising influence of Iran, Russia and China.

But thorny optics overshadowed the Saudi leg as Biden avoided appearing to embrace a crown prince implicated by U.S. intelligence in the brutal 2018 murder of Washington Post journalist Jamal Khashoggi, a charge Saudi authorities deny.

Biden said he confronted Prince Mohammed, known as MbS, over the killing. MbS remained unbowed, telling Biden the United States had also made mistakes.

Though Biden left the Middle East without securing an immediate pledge by Saudi Arabia to boost oil output or public support for U.S. efforts for a regional security axis that would include Israel, the trip was not a wash.

Biden’s fist bump with Prince Mohammed in front of the royal palace in Jeddah will serve as the defining image of the trip, but it was months in the making. White House officials were divided over rewarding MbS with a visit and agonized over how it would look.

In the end, they decided that keeping strategic ties with Saudi Arabia that have weathered 80 years was important for U.S. interests and would help the two sides turn the page.

Riyadh took several important steps to pave a path for the visit, including backing a U.N.-brokered truce in the Yemen conflict, a big victory for Biden, who pulled U.S support for Saudi-led offensive operations. It also helped accelerate already approved boosts in oil production through OPEC+.

“The summit of the nine Arab leaders is a clear accomplishment as is the backing for the truce in Yemen. But these accomplishments have come at the cost of the fist bump,” said Bruce Riedel, a foreign policy fellow at the Brookings Institution.

Biden came to Saudi Arabia hoping to convince the OPEC heavyweight to boost oil production, but the kingdom held firm on its strategy that it must operate within the framework of the OPEC+ alliance, which includes Russia, and not act unilaterally.

High gasoline prices have fueled a surge in inflation in the United States and globally, dragging down Biden’s poll numbers as he heads into critical congressional elections in November.

However, White House officials are confident their diplomatic efforts will help shape the conversation when OPEC+ members hold their next meeting.

“All eyes are on the August 3 OPEC+ meeting. If the Saudis and the UAE want to raise output, they will do it via OPEC+. But we have to keep in mind the demand picture is softening. I’m not sure these countries are convinced the market needs more crude supply,” said Ben Cahill, an energy analyst at the Center for Strategic and International Studies.

ISRAELI-SAUDI RELATIONS

The trip saw a small warming of relations between Saudi Arabia and Israel after Riyadh said it would open its airspace to all air carriers, paving the way for more overflights to and from Israel.

There was also a U.S.-brokered deal between Israel, Egypt and Saudi Arabia under which a small U.S.-led international peacekeeping contingent would quit the strategic island of Tiran, control of which was ceded to Riyadh by Cairo in 2017.

The United States and Israel hope those moves and the summit could help build momentum toward Israel’s further integration into the region, including with Saudi Arabia.

But the Saudi foreign minister poured cold water over any imminent normalization with Israel, saying this was not a precursor to further steps. He said Riyadh was not part of any discussions on a Gulf-Israeli defense alliance to counter Iran.

On Thursday, the U.S. and Israel signed a joint pledge on Thursday to deny nuclear arms to Iran, a show of unity by allies long divided over diplomacy with Tehran. The declaration was part of Biden’s efforts to rally regional allies around U.S. efforts to revive a 2015 nuclear pact with Iran.

Saudi Arabia and Israel were not happy with the original nuclear deal brokered by former President Barack Obama’s administration and celebrated when Biden’s predecessor, Donald Trump, quit the pact.

Now, Biden is asking for patience, assuring them that the United States is willing to use force as a last resort if talks fail and Iran continues what the West believes is a program to develop nuclear weapons. Tehran denies it is seeking a nuclear weapon.

Saudi Arabia and the UAE want regional concerns over Iran’s missile program and regional proxies to be addressed.

(Reporting by Jarrett Renshaw; Editing by Paul Simao)

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By Steve Holland, Aziz El Yaakoubi, Jarrett Renshaw and Maha El Dahan

JEDDAH, Saudi Arabia -President Joe Biden told Arab leaders on Saturday that the United States would remain an active partner in the Middle East, but he failed to secure commitments to a regional security axis that would include Israel or an immediate oil output rise.

“The United States is invested in building a positive future of the region, in partnership with all of you—and the United States is not going anywhere,” he said, according to a transcript of his speech.

Biden, who began his first trip to the Middle East as president with a visit to Israel, presented his vision and strategy for America’s engagement in the Middle East at an Arab summit in Jeddah.

The summit communique was vague, however, and Saudi Arabia, Washington’s most important Arab ally, poured cold water on U.S. hopes the summit could help lay the groundwork for a regional security alliance – including Israel – to combat Iranian threats.

During a meeting with Saudi Crown Prince Mohammed bin Salman, Biden raised the highly sensitive issue of human rights, drawing countercriticism from the crown prince, also known as MbS.

“We believe there’s great value in including as many of the capabilities in this region as possible and certainly Israel has significant air and missile defence capabilities, as they need to. But we’re having these discussions bilaterally with these nations,” a senior administration official told reporters.

A plan to connect air defence systems could be a hard sell for Arab states that have no ties with Israel and balk at being part of an alliance seen as against Iran, which has a strong regional network of proxies including Iraq, Lebanon and Yemen.

Saudi Arabia’s foreign minister, Prince Faisal bin Farhan Al Saud, said he was not aware of any discussions on a Gulf-Israeli defence alliance and that the kingdom was not involved in such talks.

He told reporters after the U.S.-Arab summit that Riyadh’s decision to open its airspace to all air carriers had nothing to do with establishing diplomatic ties with Israel and was not a precursor to further steps.

Biden has focused on the summit with six Gulf states and Egypt, Jordan and Iraq, while downplaying the meeting with MbS which drew criticism in the United States over human rights concerns.

Biden had said he would make regional power Saudi Arabia a “pariah” on the global stage over the 2018 murder of journalist Jamal Khashoggi by Saudi agents, but ultimately decided U.S. interests dictated a recalibration, not a rupture, in relations with the world’s top oil exporter.

The crown prince told Biden that Saudi Arabia had acted to prevent a repeat of mistakes like the killing of Khashoggi and that the United States had also made mistakes, including in Iraq, a Saudi minister said.

FIST BUMP

Biden exchanged a fist bump with MbS on Friday but said he told him he held him responsible for Khashoggi’s murder at the Saudi consulate in Istanbul.

“The President raised the issue … And the crown prince responded that this was a painful episode for Saudi Arabia and that it was a terrible mistake,” said Saudi Minister of State for Foreign Affairs Adel al-Jubeir.

The accused were brought to trial were and being punished with prison terms, he said.

U.S. intelligence agencies believe the crown prince ordered Khashoggi’s killing, which he denies.

Jubeir, talking to Reuters about Friday’s conversation, said MbS had made the case that trying to impose values on other countries by force could backfire.

“It has not worked when the U.S. tried to impose values on Afghanistan and Iraq. In fact, it backfired,” Jubeir quoted the crown prince as telling Biden. “Countries have different values and those values should be respected!”

The exchange highlighted tensions that have weighed on relations between Washington and Riyadh, its closest Arab ally, over issues including Khashoggi, oil prices and the Yemen war.

Biden needs the help of OPEC giant Saudi Arabia at a time of high crude prices and other problems related to the Russia-Ukraine conflict. Washington also wants to curb Iran’s sway in the region and China’s global influence.

Biden came to Saudi Arabia hoping to reach a deal on oil production to help drive down gasoline prices that are driving inflation above 40-year highs and threatening his approval ratings.

He leaves the region empty-handed but hoping the OPEC+ group, comprising Saudi Arabia, Russia and other producers, will boost production at a meeting on Aug. 3.

“I look forward to seeing what’s coming in the coming months,” Biden said.

FOOD SECURITY

A second senior administration official said Biden would announce that Washington has committed $1 billion in new near- and long-term food security assistance for the Middle East and North Africa, and that Gulf states would commit $3 billion over the next two years in projects that align with U.S. partnerships in global infrastructure and investment.

Gulf states, which have refused to side with the West against Russia over Ukraine, are seeking a concrete commitment from the United States to strategic ties that have been strained over perceived U.S. disengagement from the region.

Riyadh and Abu Dhabi have been frustrated by U.S. conditions on arms sales and at their exclusion from indirect U.S.-Iran talks on reviving a 2015 nuclear pact they see as flawed for not tackling concerns about Iran’s missile programme and behaviour.

Israel had encouraged Biden’s trip to Saudi Arabia, hoping it would lead to warmer ties between it and Riyadh as part of a wider Arab rapprochement.

(Additional reporting by Maha El Dahan in Jeddah and John Irish in Paris Writing by Ghaida Ghantous and Michael GeorgyEditing by Timothy Heritage and Helen Popper)

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(Reuters) -Starbucks Corp is not in a formal sale process for its UK business, a company spokesperson said in a statement after The Times reported earlier on Saturday that the coffee chain is exploring a sale of the UK operations.

According to the Times report, Starbucks has not initiated a “formal sales process” of its UK business and continues to “evaluate strategic options” for its company-owned international operations.

The company faces rising costs and competition from rivals like Pret A Manger, Tim Hortons and Costa, the newspaper said.

Starbucks suspended its guidance for the remainder of the fiscal year when it last reported quarterly earnings in May as sales growth missed Wall Street targets due to China’s tough COVID-19 curbs.

Starbucks, which has been dealing with recent unionization efforts of its U.S. workforce, is looking for a permanent CEO while Howard Schultz would remain interim CEO until the end of March.

(Reporting by Shivani Tanna in Bengaluru; Editing by Leslie Adler)

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By Fransiska Nangoy and Andrea Shalal

NUSA DUA, Indonesia – The Group of 20 major economies’ finance chiefs on Saturday pledged to address global food insecurity and rising debt, but made few policy breakthroughs amid divisions over Russia’s war in Ukraine at a two-day meeting in Indonesia.

With questions growing about the effectiveness of the G20 in tackling the world’s major problems, U.S. Treasury Secretary Janet Yellen said the differences had prevented the finance ministers and central bankers from issuing a formal communique but that the group had “strong consensus” on the need to address a worsening food security crisis.

Host Indonesia will issue a chair’s statement instead. Finance Minister Sri Mulyani Indrawati said most topics were agreed by all members except for particular statements about the war in Ukraine. She described it as the “best result” the group could have achieved at this meeting.

Western countries have enforced strict sanctions against Russia, which says it is conducting a “special military operation” in Ukraine. Other G20 nations, including China, India and South Africa, have been more muted in their response.

“This is a challenging time because Russia is part of the G20 and doesn’t agree with the rest of us on how to characterize the war,” Yellen said, but stressed the disagreement should not prevent progress on pressing global issues.

Russia’s finance minister attended the meeting virtually while his deputy attended in person. Ukraine’s finance minister addressed the session virtually where he called for “more severe targeted sanctions”.

Indonesia’s Sri Mulyani said while chairing a fractured G20 has been “quite overwhelming” due to the war in Ukraine, all members agreed that food insecurity requires special attention and she called for removal of trade protections that prevented flow of food supplies.

The G20 will set up a joint forum between finance and agriculture ministers to address food and fertilize supply issue. A similar forum has been set up for finance and health ministers for pandemic preparedness.

Analysts said the failure to agree on a communique reflected the weakness of the once-mighty economic grouping.

“We are in a rudderless moment in the world economy with the G20 paralysed by Putin’s war and the G7 unable to lead on global public goods,” said Kevin Gallagher, who heads the Global Development Policy Center at Boston University.

G20 members pulled together at the start of the pandemic, but initiatives to cushion the shock for heavily indebted poor countries failed to produce significant results.

Western countries, concerned about the lack of transparency in China’s lending, were pressuring Beijing to restructure debt contracts and transform its role to “one that (contributes) to the country rather than to one of indebtedness and servitude,” said U.S. Ambassador to Japan Rahm Emanuel. But they were frustrated that Chinese officials did not attend the meetings in person, making sideline discussions impossible.

Kristalina Georgieva, head of the International Monetary Fund, warned more than 30% of emerging and developing countries – and a staggering 60% of low-income countries – were in or near debt distress.

“The debt situation is deteriorating fast and a well-functioning mechanism for debt resolution should be in place,” she said.

Sri Mulyani said G20 also encouraged further progress on the implementation of the Common Framework for Debt Treatment beyond the debt service suspension initiative in a timely, orderly, and coordinated manner.

She said there were discussions on how to make the framework more effective for countries in need.

(Additional reporting by Stefanno Sulaiman in Nusa Dua and Leigh Thomas in Paris; Editing by William Mallard, Kanupriya Kapoor, Tom Hogue and William Mallard)

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VIENNA -The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter.

The central bank last month raised its policy rate for the first time in 15 years and Chairman Thomas Jordan said soon afterwards that ongoing inflationary pressure meant further tightening would likely be needed.

Data published last week showed Swiss inflation hit a 29-year high of 3.4% in June, more than economists had expected and the first time it has surpassed 3% since 2008. It is the fifth month in a row that inflation has been above the SNB’s target range of 0-2%.

Newspaper Schweiz am Wochenende said the central bank was planning a rate hike of 50 basis points to 0.25% from -0.25% at its next scheduled monetary policy announcement on Sept. 22, though the situation could yet change between now and then. It cited one or more unidentified people involved in the matter.

If inflation were to rise further, a rate hike of 75 basis points is possible, it added.

Some analysts have said the SNB could raise rates before Sept. 22, closer to the European Central Bank’s planned rate increase at a Governing Council meeting on Thursday.

Asked about the report, a spokesperson for the SNB said it does not comment on speculation.

(Reporting by Francois Murphy; editing by Clelia Oziel and Daniel Wallis)

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PARIS – More than 100 French public figures have signed an open letter denouncing what they said were homophobic remarks by a recently appointed government minister.

Caroline Cayeux, appointed minister for territorial cohesion as part of France’s new government formed on July 4, was asked by the Senate on Tuesday whether she maintained her opposition to the law for same-sex marriage and adoption in 2013.

At the time, she called the reform a “caprice” and “plan that goes against nature”.

Cayeux initially stood by what she said, adding: “I have a lot of friends among those people.” Two days later she apologised for her remarks.

The open letter, to be published in the Journal du Dimanche newspaper on Sunday, took issue with the choice of words and called into question whether she should keep her post.

“How can we accept that a member of government … calls French citizens ‘those people’? How can we avoid that, in her mind, they do not belong to the same category of citizens?”

The letter was signed by members of parliament, mayors, former members of government including former Prime Minister Manuel Valls, as well as journalists, lawyers and members of civil society.

On Friday, Prime Minister Elizabeth Borne said that Cayeux had made “shocking” remarks in the past and had explained herself awkwardly but that she would continue working and remain “concentrated on her mission” in government.

(Reporting by Layli Foroudi; Editing by Nick Macfie)

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WASHINGTON – A lawyer pushing the baseless claim of massive fraud in the 2020 election urged former President Donald Trump to overturn his loss through steps that would be viewed as “martial law,” according to a memo published online on Saturday by the New York Times.

Measures that attorney William Olson proposed Trump take included replacing the acting attorney general if he refused to contest the vote in the U.S. Supreme Court and naming a new White House counsel to identify powers that Trump could use “to ensure a fair election count,” the memo showed https://int.nyt.com/data/documenttools/olson-memo-trump-election/e59dca011b5db8c5/full.pdf.

Olson appeared to suggest those powers included ordering “sampling from lists of registered voters,” the memo showed.

“Our little band of lawyers is working on a memorandum that explains exactly what you can do,” Olson wrote to Trump in the memo, which was dated Dec. 28, 2020. “The media will call this martial law, but … that is ‘fake news’ — a concept with which you are well familiar.”

The memo obtained by the Times revealed for the first time Olson’s role in efforts by right-wing actors outside the White House to convince Trump to overturn the victory of his Democratic foe, Joe Biden, that were opposed by Justice Department leaders and White House lawyers.

Olson, whose office is in a Virginia suburb of Washington, joined the legal team of one of those outside actors, Mike Lindell, the CEO of MyPillow, after Trump left office. Olson did not immediately respond to a Reuters request for comment.

A spokesperson for Trump did not immediately respond to a request for comment.

The Times reported that a person familiar with the work of the congressional committee investigating the Jan. 6, 2021, attack on the Capitol said the panel was aware of Olson’s memo and was exploring his role in efforts to overturn the 2020 vote.

The panel did not immediately respond to a Reuters request for comment.

Olson sent his memo 10 days after a six-hour heated White House meeting in which, according to Jan. 6 committee testimony, top aides vied to influence Trump against Lindell, former national security adviser Michael Flynn and lawyer Sidney Powell as they peddled conspiracy theories about the election.

Even though Trump’s aides persuaded him during the meeting to reject a recommendation to order the seizure of voting machines and other measures, Olson’s memo indicated that Trump remained receptive to extreme proposals aimed at keeping him in office.

“While time to act was short when we spoke on Christmas Day,” Olson wrote to Trump, “time is about to run out.”

(Reporting by Jonathan Landay; Editing by Leslie Adler)

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GAMBRILLS, MD – The gunman who shot and killed a Gambrills, Maryland McDonald’s employee in May has been arrested. Police said 21-year-old Ja’quan Green, of Middle River is responsible for the murder of Birtrain Gray.

According to police, on May 13, at approximately 4:45 a.m., officers responded for a report of gunshots fired at the McDonald’s restaurant located at 1130 Crain Highway South in Gambrills.

“Upon arrival, officers discovered a deceased male with an apparent gunshot wound(s) to his body. A Forensic Investigator from the Office of the Chief Medical Examiner (OCME) and Homicide detectives responded,” police said. “The victim was identified as Britrain Marcelus Gray, 23, of Odenton, and was working at the restaurant at the time of the shooting. Mr. Gray was transported to the OCME for an autopsy, where the cause and manner of death will be determined.”

“Homicide Investigators have worked tirelessly through this investigation and through investigative means have identified 21-year-old, Ja’quan Green from Middle River with the above murder of Britrain Gray,” police said today.

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TOLEDO, OH – An elderly woman was assaulted and robbed as a man ripped cash out of her hands inside a store on Elm Street.

Police said on Monday, the unidentified male suspect ripped cash out of the hands of an elderly victim as she attempted to play the lottery in the 3400 block of Elm.

If you have any information call OR text Crime Stoppers at 419-255-1111. You may be eligible for a cash reward up to $5,000 or more. #toledopolice

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WILMINGTON, DE (PRESS RELEASE) – Delaware State Police have arrested Calvin Samuels, 39, of Valley Stream, NY, for robbery following an incident in June.

On June 17, 2022, at approximately 1:43 p.m., troopers responded to the Wells Fargo bank located at 2450 Glasgow Avenue for an alarm activation. Upon their arrival it was discovered that the bank had just been robbed and the suspect had fled the scene. The ensuing investigation revealed that the suspect had entered the bank and presented a teller with a demand note. The teller surrendered money to the suspect, and the suspect exited the building and departed from the area in an unknown direction towards an unknown destination. No one was injured in this incident.

On July 12, 2022, the Newark Police Department located and arrested Calvin Samuels after a bank robbery at the TD Bank, located at 230 East Delaware Avenue, Newark. Through investigative means officers connected Samuels to a total of 8 bank robberies that occurred throughout New Castle and Kent Counties beginning in May 2022 within the city limits of Wilmington, Newark, Dover, and Middletown.

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PRINCETON, NJ – A bank robber in New Jersey went Beyond Castle Wolfenstein when he robbed a TD Bank branch in Princeton, New Jersey.

Police released photos of the man who was wearing a German helmet, a World War II style gas mask, olive drab combat utilities and a black long-sleeved turtle neck shirt who attempted to rob the bank.

“We know you were all asking for the video footage of the suspect’s failed attempt at jumping over the counter in last week’s TD Bank incident,” the Princeton Police Department told residents. “No video to share, but the still footage is almost as comical!”

Police are still attempting to identify the individual and are asking for the public’s assistance.

“It is believed that the motorcycle used by the suspect is a 2014 Suzuki GSXR, Matte black with a bent license plate,” police said. “The suspect is approximately 5’4″-5’6″ tall with a thin build and wearing olive drab BDU’s, a black long sleeved turtle neck, WWII style gas mask, German-style helmet, black gloves and wearing two Go-Pro style cameras.”

If you have any information that can assist us in identifying the suspect, please contact Det. Travis Allie at (609) 921-2100 X 2123

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CUMBERLAND, MD – A homeless man has been arrested and charged for a dumpster fire behind the White Oaks Shopping Plaza in Cumberland. He was identified by police by his flip-flops.

According to police, James Robert Michael Langway, 34, was arrested after a Cumberland Police Department officer assisting investigators noticed Langway’s footwear while reviewing video surveillance of the dumpster fire Tuesday afternoon.

“The keen-eyed police officer remembered Langway and his distinctive slides after making contact with him a few days earlier,” police said.

On July 11, at around 11:15 p.m., the Cumberland Fire Department responded to the rear of White Oaks Shopping Plaza and discovered a dumpster on fire behind Aaron’s and rapidly spreading to the building.

“Firefighters were able to extinguish the fire but not before causing $1,200 in damages. The following morning, Deputy State Fire Marshals and Cumberland Fire Marshal’s Office investigated the cause of the fire. They obtained video of Langway damaging property to the front of several businesses before he lit cardboard boxes and eventually the dumpster on fire,” police reported.

Langway was charged with second-degree arson, two counts of second-degree malicious burning, and two counts of malicious destruction of property. Cumberland Police Department will file the charges related to the property damage. Langway is currently being held at Allegany County Detention Center, awaiting bond review.

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Fire

CUMBERLAND, MD – Police have charged two 13-year-olds for arson. The arrests were connected to a fire at a vacant duplex early Tuesday morning on the 100 block of Grand Avenue.

According to police, on Tuesday morning, just after 5:00 a.m., the Cumberland Fire Department responded to, and discovered a fire within a two-story, vacant duplex.

“It took just minutes to bring the fire under control, and no one was injured. Damage to the home was estimated to be $1,500, and investigators concluded the fire was an intentional act,” police said. “Deputy State Fire Marshals were later joined by Cumberland Police Department and discovered surveillance footage that assisted in identifying the two teenagers.”

State Fire Marshal Brian S. Geraci commended the investigators’ efforts in quickly closing the case. “The arrest of these suspects reveals our partnership with our fire investigation and law enforcement agencies and their outstanding commitment to Maryland’s citizens and firefighters. We are fortunate no one was injured because we have seen how acts of arson can quickly lead to tragedy as we did this January with the deaths of three Baltimore City firefighters,” Geraci said.

The juveniles were charged with second-degree arson, first-degree malicious burning, and malicious destruction of property. Both were released to the custody of their parents and will be referred to the Department of Juvenile Services.

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