BRICS nations ask all states to prevent terrorist activities from their soil

Jun 12: The global number of COVID-19 cases has increased to over 7.5 million, while the death toll was nearing 421,000, according to the Johns Hopkins University.

As of Friday morning, the overall number of cases stood at 7,500,777, while the deaths increased to 420,993, the University's Center for Systems Science and Engineering (CSSE) revealed in its latest update.

The US continues with the world's highest number of confirmed cases and deaths at 2,022,488 and 113,803, respectively, according to the CSSE.

In terms of cases, Brazil comes in the second place with 802,828 infections.

This was followed by Russia (501,800), the UK (292,860), India (286,605), Spain (242,707), Italy (236,142), Peru (214,788), France (192,493), Germany (186,691), Iran (180,156), Turkey (174,023), Chile (154,092), Mexico (133,974), Pakistan (125,933) and Saudi Arabia (116,021), the CSSE figures showed.

Regarding fatalities, the UK continues in the second position after the US with 41,364 COVID-19 deaths, which also accounts for the highest number of fatalities in Europe.

The other countries with over 10,000 deaths are Brazil (40,919), Italy (34,167), France (29,349), Spain (27,136) and Mexico (15,944).

Washington, Feb 5: Experts warned a US government panel last night that India's Muslims face risks of expulsion and persecution under the country’s new Citizenship Amendment Act (CAA) which has triggered major protests.

The hearing held inside Congress was called by the US Commission on International Freedom, which has been denounced by the Indian government as biased.

Ashutosh Varshney, a prominent scholar of sectarian violence in India, told the panel that the law championed by prime minister Narendra Modi's government amounted to a move to narrow the democracy's historically inclusive and secular definition of citizenship.

"The threat is serious, and the implications quite horrendous," said Varshney, a professor at Brown University.

"Something deeply injurious to the Muslim minority can happen once their citizenship rights are taken away," he said.

Varshney warned that the law could ultimately lead to expulsion or detention -- but, even if not, contributes to marginalization.

"It creates an enabling atmosphere for violence once you say that a particular community is not fully Indian or its Indianness in grave doubt," he said.

India's parliament in December passed a law that fast-tracks citizenship for persecuted non-Muslim minorities from neighboring countries.

Responding to criticism at the time from the US commission, which advises but does not set policy, India's External Affairs Ministry said the law does not strip anyone's citizenship and "should be welcomed, not criticized, by those who are genuinely committed to religious freedom."

Fears are particularly acute in Assam, where a citizens' register finalized last year left 1.9 million people, many of them Muslims, facing possible statelessness.

Aman Wadud, a human rights lawyer from Assam who traveled to Washington for the hearing, said that many Indians lacked birth certificates or other documentation to prove citizenship and were only seeking "a dignified life."

The hearing did not exclusively focus on India, with commissioners and witnesses voicing grave concern over Myanmar's refusal to grant citizenship to the Rohingya, the mostly Muslim minority that has faced widespread violence.

Gayle Manchin, the vice chair of the commission, also voiced concern over Bahrain's stripping of citizenship from activists of the Shiite majority as well as a new digital ID system in Kenya that she said risks excluding minorities.

More than 40 people were killed last week in New Delhi in sectarian violence sparked by the citizenship law.

India on Tuesday lodged another protest after the UN human rights chief, Michele Bachelet, sought to join a lawsuit in India that challenges the citizenship law's constitutionality.

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."