2018: New Zealand, Australia kick off global New Year parties

Agencies
December 31, 2017

Australia rang in the New Year with a spectacular display of rainbow-coloured fireworks cascading from Sydney Harbour Bridge, as revellers marked the nation’s legalisation of gay marriage amid tight security.

About 1.5 million people packed the city’s foreshore to watch the pyrotechnics light up the sky above the historic bridge and the iconic opera house, the first major celebrations worldwide after New Zealand.

“This is a fabulous way to see out 2017 — the year that four out of five Sydneysiders said a resounding ‘Yes’ to marriage equality,” said Sydney Lord Mayor Clover Moore of the nationwide postal vote in support of change.

Thousands turned out earlier in New Zealand’s largest city Auckland for the annual New Year’s Eve street party, marked by a major fireworks display from the Sky Tower.

Around the world

Celebrations will move to Asia, the Middle East, Africa, Europe and finally the Americas, with dazzling light shows bidding farewell to 2017.

Hong Kong: “Shooting stars” will be fired from the rooftops of skyscrapers in a 10-minute musical fireworks display.

Jakarta: Some 500 couples will wed in a mass ceremony sponsored by the government, and festivals and bazaars will be held on main roads and at tourist sites.

Dubai: The city is replacing its main midnight fireworks with a laser show on the world’s tallest tower, the 828-metre Burj Khalifa.

Moscow: Major boulevards and squares will be decked out to welcome the new year, with fireworks to light up 36 key sites.

Berlin: Special tents will be set up at the Brandenburg Gate to care for women victims of sexual harassment or those who feel threatened, following mass assaults by migrant groups on women in Cologne two years ago. In Cologne itself, 1,400 police will be mobilised, street lighting will be improved and more video cameras installed.

Paris: Hundreds of thousands are expected to line the Champs-Elysees for a light show and fireworks at the Arc de Triomphe. Nearly 140,000 police, gendarmes and soldiers will be deployed nationwide to guard against the jihadist threat. But with no major attack in France since mid-2016 the atmosphere was noticeably more festive than in the past two years.

Rio: Millions will gather on Copacabana beach to watch the fireworks, with many wearing white, the traditional colour to usher in the new year.

Toughest security in years

Stricter security has been a key focus amid fears that crowds could be targets for vehicle and other terror attacks.

In Australia, the stronger police presence included some officers carrying semi-automatic rifles in Sydney and bollards used as barriers against vehicles.

Earlier in December one man was killed and more than a dozen hurt when a man ploughed a car into a crowd of pedestrians in Melbourne.

“You’re going to see more police than ever out, it will be our largest contingent... (given) the current security environment,” said Victoria State police acting chief commissioner Shane Patton.

Other cities are also on alert following deadly vehicle assaults over the past two years in Barcelona, Nice and London.

New York’s Times Square celebrations are set to go ahead despite the Arctic chill gripping much of the central and northeastern United States and Canada.

But revellers there will be guarded by the strongest security presence in years, after two recent attacks apparently inspired by the Islamic State group.

Looking ahead to 2018

Islamic State’s defeat in Iraq and Syria was one of the key stories of 2017, although the jihadists remain a threat and numerous attacks around the world were claimed by them or al-Qaeda-linked groups.

Donald Trump stole the news spotlight after making his debut as U.S. President in January 2017, with “America first” policies and a bombastic personal style that has shaken up international diplomacy.

The former reality television star is likely to continue dominating headlines in 2018, with escalating tensions over North Korea among a host of global challenges.

Other political and diplomatic earthquakes set to rumble into 2018 include the crisis in the Middle East between Saudi Arabia and its allies against Qatar, and the humanitarian disaster in Yemen.

In Europe, further talks on Brexit will help shape the region’s future trade relationship while Russia is set to host the football World Cup amid frictions with the West.

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News Network
February 18,2020

Washington, Feb 18: The upcoming visit of President Donald Trump to India later this month has the potential to usher in a new era of bilateral ties between the two countries, a top American business advocacy group has said.

President Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi. He would be accompanied by First Lady Melania Trump.

This would be the president's first bilateral visit in the third decade of the 21st century and also the first after his acquittal by the Senate in the impeachment trial.

"I believe President Trump's upcoming visit to India has the potential to usher in a new era of our bilateral ties," Mukesh Aghi, President of the US India Strategic and Partnership Forum (USISPF) said in a statement on Monday.

On the sidelines of the visit, the USISPF, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the ORF, has announced to organise a program entitled "US-India Forum: Partners for Growth".

The full-day discussion will focus on the key pillars defining India and the US' strategic, economic, and cultural partnership over the next decade.

"We have an opportunity before us to make real progress on multiple aspects of the relationship— whether it is upholding peace and security in the Indo-Pacific region; building upon an already strong energy partnership; developing co-production and co-development opportunities in the defense space; or strengthening bilateral trade," Aghi said.

"We look forward to an extremely successful visit and some concrete outcomes from the visit," he said.

The day-long programme on February 25 in New Delhi, will bring together over 500 senior business executives, members of the US-India think tank community and leading figures of the Indian diaspora to set the agenda for this strategic partnership.

Discussions during the day will touch upon areas, including the Indo-Pacific Strategy and Maritime Security; the US-India Defence Partnership, the US-India Energy Partnership, Elevating US-India Trade and Investment and Role of the Indian Diaspora in US-India Relations.

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News Network
June 26,2020

Washington, Jun 26: The United States reported more than 39,000 new coronavirus cases on Thursday, its highest-ever single-day count as the government relaxed restrictions and is downplaying the threat of the deadly virus.

According to the Washington Post, experts believe there is a troubling lack of consistent, unified messaging from President Donald Trump and Vice President Mike Pence. They have downplayed the danger and denigrated effective disease defences such as mask-wearing, testing, and social distancing.

Churches, beaches, and bars are filling up with people and so are hospital beds, the report said.

The counties home to Dallas, Phoenix, and Tampa all reported record-high averages on at least 15 straight days in June.

The hardest-hit states are California, Texas, Florida and those that thought they had the virus under control, like Utah and Oregon.

"I think the politicians are in denial," said Kami Kim, director of the Division of Infectious Disease and International Medicine at the University of South Florida.

The chief of the Division of Pediatric Infectious Diseases at the University of Utah Health, Andrew T. Pavia, is of the view that the push to reopen quickly even as cases climb sends a dangerous and inaccurate message.

"On the one hand, you get messages from politicians and the business community that we have to go, go, go and open up," he said. "On the other hand, you're seeing epidemiological indicators that we still have to be very careful."

"It's cognitive dissonance," he added.

The Trump administration has tried to downplay the rising number. Pence called concerns about another surge of infections "overblown," the product of media "fearmongering."

Some governors have followed the administration's lead, blaming rising caseloads on more testing.

Testifying before a congressional committee this week, Anthony S. Fauci, the nation's top infectious-diseases expert, said the new cases were "a disturbing surge" spurred by community transmission rather than testing.

"That's something I'm really quite concerned about," Fauci said. "A couple of days ago, there were 30,000 new infections. That's very disturbing to me."

Several states like Arizona, Arkansas, the Carolinas, Mississippi, Tennessee, Texas and Utah have recently reported new highs in the number of coronavirus patients hospitalized.

"We're seeing a 40 per cent increase in the last two weeks in hospitalizations," said Dallas County Judge Clay Jenkins (D), the jurisdiction's top elected official. "We're by far at our record numbers, and we're at record numbers in north Texas. Houston is at a record, the state is at a record." The Texas Medical Center in Houston, a massive medical complex, reported Thursday that 100 per cent of the beds in its intensive care unit are occupied.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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