FIFA decided to increase the number of teams in the tournament from 24 to 32, leading to a larger qualifying group of 174 countries.
1998 World Cup: When Zidane Eclipsed Ronaldo (Image: Pedro Ugarte/AFP)
Host: France
Teams: 32
Format: Group stage, knockouts
Matches: 64
Goals: 171
Winner: France
Runners-up: Brazil
Golden Boot: Davor Suker (Croatia)
Background
The longest World Cup (32 days) was held in 1998 when France hosted for the second time (after 1938).
FIFA decided to increase the number of teams in the tournament from 24 to 32, leading to a larger qualifying group of 174 countries.
There were four debuts, from four different continents, underscoring the broader scope of the game.
Croatia, Jamaica, Japan, and South Africa played their first World Cup. Portugal, Sweden, the Czech Republic, and Uruguay did not qualify.
After the departure of some of the heroes of their 1994 victory, Brazil unearthed another talented striker: Ronaldo.
The 21-year-old scored four goals and made five assists on route to Brazil’s way to the final. He was the poster boy for young football fans around the world and looked set to win his first world title.
However, Ronaldo’s name did not appear on the team’s sheet on the day of the final, causing a stir around the world. It was later added, but the player was unable to replicate his performances from the previous games and was later found to be unwell before the game.
Among the tournament’s surprises were Norway’s 2-1 win over Brazil and Nigeria’s 3-2 win over Spain. Croatia, led by sensational Davor Suker, made their way to the semifinals with victories over Romania (1-0) and three-time winner Germany (3-0).
However, they fell short in the semi-finals against hosts France.
France built on the success of several star players, including Zinedine Zidane, who scored the team’s first two goals in the final. The third was added by Emmanuel Petit and the home country erupted with joy in their first World Cup victory.
Highs
After being blacklisted for years by apartheid, South Africa played its first World Cup.
The golden goal rule was introduced to encourage attacking play during extra time.
Despite political tensions between Iran and the United States, both teams showed mutual respect and took a memorable group photo with their arms over each other.
Michael Owen scored a wonderful goal, one of the most memorable goals of the World Cup, when he scored England’s second in their knockout match.
The tournament’s official song, Ricky Martin’s Cup of Life, won worldwide acclaim and has been ranked as the best anthem of the World Cup by multiple publications and critics.
A few months before the tournament, EA Sports released World Cup 98, its first international soccer game after winning the rights from FIFA. The game became a hit with video game fans.
Lows
After making his way through the tournament, Brazil’s Ronaldo was a shadow of himself during the final, leading to conspiracy theories and investigations.
Saudi Arabia and South Korea fired their respective coaches after the first two group matches, which ended in defeats.
Asia Stocks Rise Higher Since 2020 as China Eases Some Covid Rules. (Image: Bloomberg)
Asia Stocks Rise Higher Since 2020 as China Eases Some Covid Rules. (Image: Bloomberg)
Asia’s stock benchmark rose to the highest since March 2020 as China’s move to ease some Covid rules supercharged a rally triggered by weaker US inflation.
The MSCI Asia Pacific index rose as much as 4.6%, also on track for its best weekly gain since March 2020. Hong Kong’s benchmark index rose more than 7% after China reduced its quarantine time for incoming travelers and removed Covid flight suspensions, adding to positive sentiment around top leaders calling for a more targeted approach to controlling the coronavirus.
Asia Stocks are Poised for Their Best Day Since March 2020. (Image: Bloomberg)
Regionally, chipmakers soared, pushing benchmarks in Taiwan, South Korea, and Japan higher. Local currencies got a boost when the dollar suffered its worst day since 2009 overnight. Bond yields declined as the Federal Reserve appeared closer to moderating its aggressive rate-raising campaign after data showed consumer price increases slowed in October.
“East Asian stocks, more vulnerable to tighter U.S. financial conditions, could benefit more from peak U.S. inflation,” said Frank Benzimra, strategist at Societe Generale SA. “Some Asian central banks are at the end of their tightening cycle and could pivot before the Fed,” such as South Korea and India.
The recent rally in Chinese stocks and the falling dollar have helped lift the MSCI Asia stock gauge more than 12% from a low in October. Still, with China continuing to restrict mobility in some major cities and the jury still on the road to interest rate hikes globally, the outlook for corporate profits is cloudy.
Hacker Demands $10 Million to Stop Leaking Australians' Medical Records (Image: David Gray/Reuters)
Cyber extortionists publish medical information purporting to show details of abortions and treatments for addiction and HIV.
Hacker Demands $10 Million to Stop Leaking Australians’ Medical Records (Image: David Gray/Reuters)
A cyber extortionist has demanded nearly $10 million to stop leaking the medical records of Australians caught in one of the country’s worst cyber-attacks.
In a message posted on the dark web on Thursday morning, the hacker said he was demanding $1 from Medibank, Australia’s largest private health insurer, for every one of the 9.7 million customers affected in a huge data breach last month.
The cybercriminal organization also released information purporting to link clients to their abortions, after it earlier this week released a “naughty list” that appeared to show clients who received treatment for addiction, mental health issues, and HIV.
Local media have linked the dark web forum used to publish the hacked data to the criminal group REvil, which Russian authorities said they shut down earlier this year at the request of the United States.
Medibank CEO David Koczkar on Thursday condemned the hacker’s actions as “shameful” and reiterated an apology to customers.
“We remain committed to communicating fully and transparently with customers and will contact customers whose data has been published on the dark web,” Koczkar said.
“The militarization of people’s private information to extort payment is malicious, and it is an attack on the most vulnerable members of our community.”
Medibank has refused to pay the ransom, citing advice from cybercrime experts that doing so would not guarantee the return of customer information and could put “more people at risk by making Australia a bigger target.”
The Australian Federal Police, which is investigating the cyber-attack, has warned that downloading or even simply accessing the data could be a criminal offense.
Home Affairs Minister Clare O’Neil described the hackers as “scum criminals”.
“I can’t express the disgust I have for the bastards who are at the heart of this criminal act,” O’Neil told Parliament on Wednesday.
The cyber-attack, which first came to light last month, is the latest in a series of major data breaches rocking Australia.
Optus, Australia’s second-largest telecommunications provider, announced in September that the data of up to 10 million customers had been compromised in a cyber-attack against the company.
Putin Allies Criticizing Russia's War Machine (Images: Getty Images)
Russia’s military command has come under heavy criticism for the stalled offensive in Ukraine.
Putin Allies Criticizing Russia’s War Machine (Images: Getty Images)
Two voices have been especially vocal: Chechen leader Ramzan Kadyrov and Yevgeny Prigozhin, the founder of the mercenary group Wagner. That’s why they’re important.
An Unlikely Alliance
The two men do not formally run any of Russia’s military or security agencies, and yet they have somehow been allowed to criticize army commanders in unison and praise each other’s views as well.
Russia’s war in Ukraine has ruined its military’s image of an efficient and well-managed corps, from its failure to deliver on state television’s promise that Kyiv will be captured in three days to its withdrawal from large swaths of Ukrainian territory. A newly appointed head of Russian forces in Ukraine, General Sergey Surovikin, can so far only claim success in blowing up Ukrainian power plants.
But the mere fact that these two men have not been silenced for what would otherwise be seen as an unprecedented display of disloyalty suggests that Vladimir Putin is taking their views into account.
The fate of Colonel General Alexander Lapin is a case in point. One of the top Russian commanders in Ukraine was fired in late October, according to widespread reports.
Ramzan Kadyrov had described him just two days earlier as “talentless,” blaming him for recent defeats, including the recapture by Ukrainian forces of the eastern city of Lyman in early October. The Chechen leader said on social media that General Lapin should be stripped of his rank and “sent to the front line as a private.”
General Lapin was one of the top Russian commanders in Ukraine, but has reportedly been fired (Image: File Image)
“He needs to be made to wash away his shame with blood,” he ranted.
Yevgeny Prigozhin joined the criticism. He has traveled through Russia’s prison system, recruiting convicts to fight in Ukraine. That kind of influence would not be possible without permission at the highest level. He has even gone so far as to praise Ukraine’s Volodymyr Zelensky as a “solid, confident, pragmatic, and nice guy.”
Who are Prigozhin and Kadyrov?
Yevgeny Prigozhin rose to fame with the nickname “Putin’s chef” because he supplied food and drink for official events in the Kremlin.
A businessman from Russia’s second-largest city, St. Petersburg, is rumored to have met Vladimir Putin in the 1990s when the future president worked in the mayor’s office and frequented his restaurant, popular with local officials.
A photo from November 2011 shows Yevgeny Prigozhin (L) helping Vladimir Putin at a banquet near Moscow (Image: Reuters)
In the 2010s, several journalistic investigations had linked him to a so-called “troll factory” in St. Petersburg, a disinformation unit whose reported role was to generate content to discredit Russian political opposition online and show the Kremlin in a positive light.
In 2016, according to an investigation later conducted by U.S. special counsel Robert Mueller, the troll factory was part of Russia’s attempt to interfere in the U.S. presidential election. Prigozhin denied links to the troll factory, but on Monday revealed: “We have interfered [in the US election], we are interfering and we will continue to interfere. Carefully, precisely, surgically and in our way, as we know how to do it.”
For many years he also denied ties to a mercenary recruitment company called the Wagner Group. Wagner first emerged in eastern Ukraine in 2014 and its fighters later emerged in Syria and many African countries.
He recently admitted to being behind Wagner, who has proven to be one of the most effective Russian units in the war in Ukraine.
He has also been locked for years in a public dispute with the governor of St. Petersburg, Alexander Beglov, going so far as to accuse him of “aiding the Ukrainian army.”
Few Putin allies are as fiercely loyal as Chechen President Ramzan Kadyrov, whom the Russian leader chose to rule the autonomous republic in the North Caucasus region in 2007.
In the 1990s, Chechnya fought unsuccessfully for independence. Under Mr. Kadyrov’s rule, all attempts at Chechen independence ceased, while human rights deteriorated and his private militia “Kadyrovtsy” was accused of widespread abuses.
He was a vocal supporter of the Russian invasion of Ukraine from the beginning, sending Kadyrovtsy military units and claiming that they were among the best-trained, brave, and most ruthless troops of the Russian occupation force.
They may be ruthless, but their men have also been branded “TikTok troops” by some commentators, more interested in posting videos of their exploits on social media than fighting.
Pro-Russian Chechen fighters in Ukraine are known as Kadyrovtsi (Image: KADYROV_95/TELEGRAM)
Human rights activists say a substantial proportion of Chechen soldiers were recruited against their will after their families were threatened with extortion or physical violence.
In an indication that his loyalty is cherished by the Kremlin, the Chechen leader has been promoted from brigadier general to colonel general.
Why Two Men Matter
Kadyrov and Prigozhin, who had never before been considered allies, have recently sounded increasingly in tune.
The Chechen leader has called the St. Petersburg businessman “a warrior by birth” and his Wagner mercenaries “intrepid patriots of Russia.” He has returned the compliment: “Ramzan, you’re on fire!” he said in one of his social media posts.
Both men criticize the military establishment, represented by Defense Minister Sergei Shoigu and his deputy and chief of staff, General Valery Gerasimov. Amid an atmosphere of naming and shaming those responsible for failures in Ukraine, this could be their chance to gain more influence at the top.
Commentators believe that, separately, neither the Chechen leader nor Wagner’s boss carries enough weight. They are very unpopular with official political elites and are seen as outsiders. But if they joined forces, they could challenge figures in President Putin’s inner circle, as cracks emerge.
Russian political analyst Abbas Galiamov says the way Kadyrov and Prigozhin behave is highly unusual for a country at war: “It seems that the vertical system of federal authority that President Putin instituted is not working in a place where it is most needed: in the military.”
He describes an atmosphere of “anarchy,” in which commanders of different military units argue with each other rather than fighting as a team.
Experts at the American Institute for the Study of War believe there are two major factions in President Putin’s close entourage. Those who are in favor of stopping the war to save assets frozen by Western sanctions, and those who are in favor of continuing it.
These two men want the war to continue. That may be the message Russia’s leader is most interested in hearing and may choose to keep them closer.
FIFA Cup 2022: What's Happening in Qatar Besides the Football World Cup 2022 (Image: Faras Ghani/Al Jazeera)
Music festivals, cultural activities, and new museums await visitors before and during the football World Cup.
FIFA Cup 2022: What’s Happening in Qatar Besides the Football World Cup 2022 (Image: Faras Ghani/Al Jazeera)
Doha, Qatar – Not only 32 of the best football teams on the planet and more than a million football fans are heading to Qatar this month.
Some of the world’s most famous entertainment stars are also on their way to the Gulf country, which has announced a series of events and activities to offer visitors and residents more than just football.
Qatar is bursting onto the world stage later this month with an estimated five billion people, more than half of Earth’s population, expected to tune in to FIFA World Cup games. With the world watching, Qatar is determined to put on a show.
Dozens of hotel and leisure complexes have been built in the 12 years since Qatar received the hosting rights for the 2022 World Cup. New entertainment venues, beaches, resorts, museums, and restaurants – it’s all part of the package.
Flags of the countries participating in the World Cup during the Darb Lusail Festival on Lusail Boulevard [Sorin Furcoi/Al Jazeera]
No less than three music festivals are being held simultaneously while the World Cup is underway. Fans will be able to enjoy acts such as Black Eyed Peas and Armin van Buuren.
Enrique Iglesias played at Doha Golf Club on Friday, and the same venue is expected to host the Black Eyed Peas.
The Arcadia Festival, with three iconic stages, will attract more than 100 international artists and will run from November 19 to December 19, one day after the World Cup final.
The event includes a 50-ton fire-breathing Spider and a heavy laser reactor stage. Daydream Festival, meanwhile, is taking over the famous Doha Golf Club which hosts electronic acts including Tiesto, Alesso, ATB, and Paul van.
Qatar’s iconic Museum of Islamic Art reopened to the public last month. Among the wave of new visitor openings in 2022 was the 3-2-1 Qatar Olympic and Sports Museum.
More than 1.2 million fans are expected to travel to Qatar to watch the World Cup. Almost 2.9 million tickets have been sold.
Apartments, hotel rooms, desert camps, villas, fan villages, and even cabins on moored cruise ships have been made available to fans coming to Qatar. Some fans will opt to stay in the UAE, Oman, and Iran, flying on “transport” flights to watch football before returning without having to spend the night in Qatar.
The country has reported an influx of international arrivals that is currently at a five-year high, with 151,000 visitors showing up in September alone. Arrivals from other Gulf Cooperation Council (GCC) nations accounted for 44 percent of total international arrivals, led by Saudi Arabia, which accounted for nearly 30 percent of the total figures, according to the Qatar Tourism Authority.
Qatar 2022, host organizers, said “Qatar will host a wide range of cultural and entertainment options for the whole family” during the World Cup.
More than 1.2 million visitors expected to visit Qatar during the World Cup [Faras Ghani/Al Jazeera]
“The national festival will include more than 90 special events that will be held on the sidelines of the tournament… Major events will feature match viewing areas, music festivals, cultural exhibitions, and street performances,” he said.
In the capital, Doha, the Corniche has been pedestrianized since early November, and the 6-km (3.7-mile) stretch of waterside road “will have a carnival atmosphere with traveling performances, cultural activities, food and drink stalls, and outlets.”
Given the numbers, Qatar is expected to deploy tens of thousands of security forces to ensure a smooth World Cup.
The host country has signed numerous security cooperation agreements with several countries, including Morocco, Pakistan, the United Kingdom, Turkey, and NATO.
The air show, with the participation of the Amiri Air Force, the Saudi Falcons Team, and the British Royal Air Force Aerobatic Team took place in the West Bay and Doha Corniche .#QNApic.twitter.com/ctkg13eArt
Ex-PM Imran Khan is Recovering in Hospital after Being Shot in the Leg
An armed attack on Pakistan’s former Prime Minister, Imran Khan, which supporters say was an assassination attempt, has drawn international condemnation.
Ex-PM Imran Khan is Recovering in Hospital after Being Shot in the Leg
Mr. Khan, 70, is recovering in hospital after being shot in the leg on Thursday at a protest march in Warzirabad, in the northeast of the country.
His camp said he was in stable condition and could leave the hospital in the coming days.
One person was killed and at least 10 wounded when their convoy faced gunfire.
The attack on Mr. Khan has electrified the country. Khan’s party, the Pakistan Tehreek-e-Insaf (PTI), has called for nationwide protests after Friday prayers. Schools have been closed in the capital, Islamabad.
Pakistan’s leaders have condemned the attack on their opponent, with President Arif Alvi calling it a “heinous assassination attempt”. Prime Minister Shehbaz Sharif ordering an immediate investigation.
US Secretary of State Antony Blinken has also called for calm. Saying: “Violence has no place in politics, and we call on all parties to refrain from violence, harassment, and intimidation.”
The cricket star-turned-politician remains popular with voters but was ousted in April in a parliamentary vote.
Since then he has been struggling to return to the office. Buoyed by the TIP’s heavy victories in recent local elections, Khan had been leading a “long march” of protests calling for early elections to facilitate his return.
He has characterized his ouster as a political conspiracy and has for months criticized the current government and military leaders. Courts have convicted him in recent corruption cases, but he has challenged the verdicts as politically motivated.
Pakistan has a history of political violence, with former Prime Minister Benazir Bhutto assassinated in 2007. Many evoked his murder in the wake of the attack on Mr. Khan.
The country is also recovering from an ongoing economic crisis and devastating floods.
How the attack unfolded
On Thursday, he was standing in an open van surrounded by aides and other members of his party when the shooting began.
It was the seventh day of his long march, which he intended to reach Islamabad next week. His truck was in Wazirabad, about 100 km (60 miles) from Lahore.
Survivors of the convoy told the BBC that Khan had been waving to his supporters and was about to start talking to the crowd when gunfire rang out.
“We could see the attacker from the top of the container,” Mueezuddin, a member of the party’s staff, told the BBC.
“We saw that the attacker had emptied an entire magazine… [And] he had carried another magazine when he was grabbed by a child from behind.”
He added: “It was so sudden that it took me a while to understand what was going on.”
Unverified videos on social media show an assailant in the crowd pointing his pistol at Mr. Khan’s convoy before being overpowered by Mr. Khan’s supporters.
Mueezuddin said Khan and those around him quickly ducked after the first shots, and when he was beaten he remained calm while his bodyguards gave him first aid.
He was then taken to a bulletproof car and taken to a hospital in Lahore.
Footage of the incident and eyewitness accounts suggested a security guard was also seen firing from the container.
Punjab Prime Minister Pervez Elahi has suggested there may have been more than one attacker, saying Khan had been “shot in the leg from the front, while the alleged attacker who was caught in the act was on the right side.”
Controversy over possible motive
Immediately after the shooting, some of his allies told the media that Khan believed current political leaders — Prime Minister Sharif, the interior minister, and a military general — were behind the attack.
A spokesman, Raoof Hasan, told the BBC’s Newshour program that the government was “trying to eliminate [Imran Khan] physically”.
Pakistan’s leaders have yet to address such accusations.
Police on Tuesday night released a video confession from the man they said had attempted to kill Mr. Khan.
It is unclear what conditions the interview was conducted under. But in response to police who asked him why he had opened fire, he said: “He was deceiving people. He wanted to kill him. I tried to kill him.”
The video has been dismissed by Mr. Khan’s allies as a “cover-up.”
One suspect remains in custody, but no charges have been filed.
UN Chief Calls on Governments and Global Community to Protect Journalists
UN Chief Calls on Governments and Global Community to Protect Journalists
Governments and the international community must take action to protect the people who bring us the news, UN Secretary-General Antonio Guterres said Wednesday on the occasion of the International Day to End Impunity for Crimes against Journalists.
Despite his critical role, he noted in his message for the Day that more than 70 journalists have been killed this year alone.
“Most of these crimes remain unsolved,” the UN chief said, adding that a record number of journalists were jailed today, with threats of imprisonment, violence, and death on the rise.
“On this International Day to End Impunity for Crimes against Journalists, let us honor our media workers and stand up for truth, justice, and human rights for all.”
This year also marks the 10th anniversary of the UN Plan of Action on the Safety of Journalists and the Issue of Impunity.
The Secretary-General underlined the importance of a free press, which he said is vital for a functioning democracy, exposing wrongdoing, navigating our complex world, and advancing the Sustainable Development Goals (SDGs), the blueprint for a fairer, more equitable, and greener future.
He also said a rise in misinformation, online harassment, and hate speech, particularly against women journalists, was contributing to stifling media workers around the world.
“Intimidation through the abuse of legal, financial, and other means is undermining efforts to hold the powerful accountable. These trends threaten not only journalists but society at large,” he added.
Eighteen have been killed so far this year, according to the United Nations Educational, Scientific and Cultural Organization (UNESCO), which maintains an online database of judicial investigations into journalist murders around the world.
A decade ago, countries backed the UN action plan that aims to protect journalists, prevent crimes against them and prosecute their perpetrators.
“This groundbreaking document was adopted to recognize the vital work journalists do, for example when reporting on conflicts and crises, or when investigating the workings of power and investigating corruption and other forms of injustice, as well as the risks they face in doing so,” said Audrey Azoulay, Director-General of UNESCO.
Much progress has been made since the adoption of the plan, he reported, with concrete measures implemented at the national, regional, and global levels.
UNESCO said it has also played a role, including through training nearly 36,000 judicial, police and security officials on issues such as freedom of expression and the safety of journalists, including online.
However, “journalists continue to be killed at an alarming rate,” Azoulay said. UNESCO data reveals that 955 journalists have lost their lives in the last decade, and 2022 has been the deadliest year since 2018.
Azoulay called for a renewed commitment to protect journalists everywhere and at all times.
“This means in conflict and crises, of course, and UNESCO is supporting journalists in Ukraine and Afghanistan, for example. It also means in peacetime, because that’s when most journalists have been killed in recent years,” he said.
The UNESCO chief also called for intensified efforts online, where new forms of violence have emerged, especially targeting women, with three out of four women journalists experiencing harassment online.
Takeoff: Tributes to Migos Rapper Shot Dead in Houston at 28 (Image: GETTY IMAGES)
Hip-hop stars and fans have paid tribute to American rapper Takeoff of the group Migos after he was shot dead at the age of 28.
Takeoff: Tributes to Migos Rapper Shot Dead in Houston at 28 (Image: GETTY IMAGES)
The musician, whose real name is Kirshnik Khari Ball, was killed in Houston on Tuesday.
Ja Rule, Kid Cudi, Khalid, and Dave posted tributes on social media, while Rick Ross called him a “young legend.”
Migos was one of the most influential groups of their generation, pioneering a style of rap in choppy triplets and staccato known as the “Migos flow.”
The band, which broke up earlier this year, scored several international hits, including Bad and Boujee, Versace, and Walk It Talk It.
Takeoff, Quavo and Offset of Migos attend the BET Awards 2021 (Image: GETTY IMAGES)
The shooting took place around 02:30 local time (07:30 GMT) on a balcony outside 810 Billiards and Bowling Alley, where Takeoff had been playing dice with his uncle and bandmate, Quavo.
Police said between 40 and 50 guests had been at a private party when someone opened fire. When they arrived, officers said they found a large crowd and a man with a gunshot wound to the head or neck. He was pronounced dead at the scene.
Police said two other people were injured and taken to a hospital in private vehicles.
No arrests have been made.
At a news conference Tuesday afternoon, Houston Mayor Sylvester Turner pleaded with witnesses at the scene to come forward.
“Please step up, send us the information so we can shut down a little bit this family that is suffering right now,” he said.
Takeoff’s attorney, Drew Findling, told the New York Times that the rapper’s death was “a devastating loss, particularly for Atlanta,” his hometown.
There was “a sense of peace about his aura,” Findling said, adding: “The world was starting to learn about Takeoff. It was his time to shine.”
Tributes flooded social media. “Always a legend, I can’t believe this,” Lil Pump wrote on Instagram; while Ja Rule posted an emoji of a pigeon and sent “love to friends and family.”
Award-winning rapper Brit Dave shared a series of photos of himself and Takeoff on Instagram, along with the words, “My brother… The days we spend together are priceless.”
British rapper AJ Tracey said on Twitter: “Don’t take off! RIP”; while Atlanta singer Keri Hilson wrote, “Rest in peace. Heal love for your siblings, family, and friends. #gonetoosoon.”
Reality star Khloe Kardashian said on Twitter: “This is very sad. Wow! About what?? May God cover all who are suffering. These senseless acts have to end. So sad.”
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Music executive Cole Bennett tweeted that “nothing makes sense anymore. Nothing at all”; and Juice Wayne posted a verse about Takeoff, saying “it will never make sense.”
“Takeoff [was] probably the least troublesome rapper,” actress Masika Kalysha added. “It doesn’t bother anyone and stays out of the way.”
Pioneers
Migos, formed by Takeoff, Offset, and Quavo, grew up together in Lawrenceville, Georgia, and went on to represent the state capital, Atlanta, arguably the spiritual home of trap music.
Takeoff said the music had offered the band, which were all related, an escape route from poverty.
“Growing up, I was trying to succeed in music. I was grinding, which is just what I loved to do. I had nothing else to do,” he told The Fader.
Takeoff appeared on stage in New Orleans this weekend (Image: GETTY IMAGES)
“In my spare time, I recorded myself. Find a rhythm… just do something and create for me. I would wait for Quavo to come back from football practice and play my songs for him.”
Originally called Polo Club, the band made their debut as Migos in 2010, and scored their first hit with Versace, which received a remix from Drake, in 2013.
‘The Beatles of this generation’
His rise came to a brief halt in 2015 when Offset was sent to jail after a police raid on the group’s tour bus after a show at Georgia State University.
Later that year, the trio released the mixtape Back to the Bando, which included the hit song Look at My Dab, which popularized the dabbing dance trend that was later picked up by athletes and even politicians.
They became mainstream in 2016 with Bad and Boujee, a viral hit whose quotable lyrics (“raindrop, top drop”) spawned multiple memes.
A slow-burning hit, it topped the U.S. charts two months after its release, thanks in part to an enthusiastic endorsement by actor and rapper Donald Glover, aka Childish Gambino.
“I think they [Migos] are the Beatles of this generation,” he said during a speech at the Golden Globes in 2017. “That song, Bad and Boujee, is just flying.”
Migos with Cardi B at the 2018 Grammy Awards, where the group were nominated for two awards (Image: GETTY IMAGES)
Takeoff’s non-appearance on that single caused minor controversy among fans, but he dismissed it, claiming that he was simply not available for the recording session.
Fueled by their success, the band’s second album, Culture, debuted at number one in the United States. The same year, the group collaborated with Calvin Harris on Slide, their only top 10 hit in the UK.
Their next album, Culture II, featured production by Kanye West and Pharrell Williams, as well as guest appearances from Nicki Minaj, 21 Savage, Cardi B, and Drake. Another U.S. number one, it spawned platinum hits MotorSport, Stir Fry, Walk It Talk It, and Narcos.
Around the same time, Offset began dating Cardi B, with whom he now has two children, Kulture and Wave.
Takeoff was the youngest member of the band and often the quietest in public.
“He analyzes a lot, that’s why I think his raps are so strong,” Offset told Rolling Stone in 2018. “It’s just powerful.”
The musician released a solo album, The Last Rocket, in 2018 before Migos reunited to record Culture III in 2021.
However, the band broke up earlier this year after a disagreement with Offset.
“We stand on real loyalty to the business, and sometimes that… it’s not shown,” Quavo told the Big Facts podcast earlier this year. “This has nothing to do with any label, no paperwork, no quality control, nothing. This had something to do with the three brothers.”
Takeoff and Quavo continued as a duo, releasing an album, Only Built For Infinity Links, which peaked at number seven on the U.S. charts last month.
Shortly before Takeoff’s death, the couple had released a Halloween-themed video for their single “Messy”.
Central Bank of India Initiates Digital Currency Pilot Program
Several successful bond trades are conducted using the RBI electronic rupee
Five- and 10-year bonds are among the first to trade
Central Bank of India Initiates Digital Currency Pilot Program
India’s central bank began a pilot program of its digital currency on Tuesday, allowing selected banks to use it to settle secondary market transactions in government securities.
Several bundles of bonds were traded, with data from Clearing Corp. of India Ltd. showing that 7.38% of 2027 debt and 7.26% of 2032 bonds were among the first to change hands using the new currency form. Nine banks are participating in the pilot.
The electronic rupee will be tested for retail use in selected locations within a month, the Reserve Bank of India said on Monday.
The limited launch comes a day after Singapore’s monetary authority revealed evidence of a digital version of its local dollar. Central banks in China, the Eurozone, the Bahamas, and others have been experimenting in the field, while many others are examining ways to quell the threat to financial stability from private digital currencies.
“It will provide users with the same experience of trading currency in digital form, without any risk associated with private cryptocurrencies,” the RBI said earlier in a concept note. Central bank digital currencies, while providing the benefits of virtual currencies, will also ensure consumer protection “by avoiding the harmful social and economic consequences of private virtual currencies.”
The banks participating in the pilot project are the State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank Ltd., Kotak Mahindra Bank, Yes Bank, and IDFC First Bank and the Indian unit of HSBC Holdings Plc.
IMF Forecasts $1 Trillion Windfall For Oil Exporters, Higher Savings in Gulf (Image: Bloomberg)
IMF Forecasts $1 Trillion Windfall For Oil Exporters, Higher Savings in Gulf (Image: Bloomberg)
The International Monetary Fund expects energy exporters in the Middle East and Central Asia to make a cumulative windfall of around $1 trillion during 2022-2026, a bonanza that will contribute greatly to the Gulf Arab economies because they will save much more of their oil revenues.
The influx of petrodollars would be higher than projected by the IMF a year ago, a reflection of higher crude prices, even as recession fears are dragging oil lower in the second half of the year. Saudi Arabia and five other Gulf Cooperation Council members, already among the biggest gainers in emerging markets, will benefit even more, as they can save about a third of their oil revenues, according to the fund.
It is “a significantly higher savings rate relative to those who entered negative territory following past declines in oil prices, a stark contrast to the pro-cyclical fiscal policies of the past,” the IMF said in its regional economic report released Monday.
Disruptions in trade and production after Russia’s invasion of Ukraine in February have pushed up the cost of commodities, contributing to cost-of-living crises around the world and keeping oil above $100 a barrel for much of the year.
But for big producers in the Middle East, the oil boom has had the effect of pushing budgets into the black for the first time in years, helping to finance spending and allowing some to pay off debt early.
The average current-account surplus for Gulf nations is expected to be nearly 10% of the gross domestic product in 2022, nearly double last year’s level, and on track to reach 7.8% by 2023, according to the fund.
The divergence with energy importers is now especially striking. The region’s emerging market and middle-income economies, including Pakistan, will see an increase in external financing needs this year to 242% of gross international reserves, or $275 billion, from 109% in 2021.
Larger Buffers
“Generally speaking, all countries need to start adjusting by increasing their buffers,” Jihad Azour, the IMF’s director for the Middle East, North Africa, and Central Asia said in an interview on Sunday. “The region is still recovering and both oil exporters and importers are showing a higher level of growth than global growth.”
The pace of economic expansion in the GCC will likely double from last year and reach 6.5% in 2022, only slightly higher than the IMF’s forecast in April, helping to boost GDP growth in the Middle East and North Africa to 5%.
Forecasting that crude prices will be lower next year, the IMF forecasts GDP to grow by 3.6% in both the Gulf and the broader Middle East.
With high inflation, rising interest rates, a global energy crisis, and tightening credit markets, petrowealth in the Gulf has become more important than ever as a source of capital.
In Saudi Arabia’s case, its sovereign wealth fund has been funneling billions of dollars into stock markets and assets globally, while playing an increasingly important role in financing development in the country.
In the report, the IMF warned that “while general governments of oil exporters are expected to avoid the pro-cyclical responses of the past, there is a risk that other public entities, such as state-owned enterprises and sovereign wealth funds, will spend the windfalls from oil.”
International reserves in the GCC member nations (Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman) will amount to nearly $843 billion this year and grow to more than $950 by 2023, the fund estimates.
Stronger non-oil growth in the GCC, where much of the expatriate workforce consists of people from countries such as India and Pakistan, could support money transfers home by workers, according to the IMF. It predicts growth in remittances from the Gulf to the region’s poorest economies of between 1.9% and 3.4% per year in the medium term.
“Oil-exporting countries grew in the last two years not only because of the increase in oil prices and production but also because of the increase in the non-oil sector,” Azour said. “Improving its fiscal management, anchoring it in the medium term, will allow the State to be less dependent on oil money to finance itself.”
