Donald Trump mocks PM Modi for funding library in Afghanistan

Agencies
January 3, 2019

US President Donald Trump on Wednesday mocked Indian Prime Minister Narendra Modi for funding a library in Afghanistan, suggesting it was of no use.

Trump brought up India's aid during a rambling press appearance at a cabinet meeting as he defended his push for the United States to invest less overseas.

While stating that he got along with Modi, Trump said the Indian leader was "constantly telling me he built a library in Afghanistan."

"You know what that is? That's like five hours of what we spend," Trump said.

"And we're supposed to say, 'Oh, thank you for the library.' I don't know who's using it in Afghanistan," Trump said.

It was unclear to which project Trump was referring, but India has committed $3 billion in assistance to Afghanistan since US-led forces toppled the Taleban regime after the September 11, 2001 attacks.

Projects have included the reconstruction of an elite high school in Kabul and scholarships to India for 1,000 Afghan students each year.

Inaugurating the Afghan parliament building in 2015 after reconstruction financed by India, Modi promised to promote programs "empowering Afghan youth with modern education and professional skills."

India has been one of the most enthusiastic countries over the US mission in Afghanistan.

Trump last month moved to pull all 2,000 US troops out of Syria and cut by half the 14,000-strong force in Afghanistan, calling for less spending overseas.

Alluding in Wednesday's remarks to the 1979-1989 Soviet occupation of Afghanistan, Trump said: "Russia used to be the Soviet Union. Afghanistan made it Russia because they went bankrupt fighting in Afghanistan."

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SD
 - 
Thursday, 3 Jan 2019

Modi giving only for publicity. Modi spending taxpayers money in other countries, while people throught India are starving to death.

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News Network
June 1,2020

Washington, Jun 1: Police fired tear gas outside the White House late Sunday as major US cities were put under curfew to suppress rioting as anti-racism protestors again took to the streets to voice fury at police brutality.

With the Trump administration branding instigators of six nights of rioting as domestic terrorists, there were more confrontations between protestors and police and fresh outbreaks of looting.

Violent clashes erupted repeatedly in a small park next to the White House, with authorities using tear gas, pepper spray and flash bang grenades to disperse crowds who lit several large fires and damaged property.

Local US leaders appealed to citizens to give constructive outlet to their rage over the death of an unarmed black man in Minneapolis, while night-time curfews were imposed in cities including Washington, Los Angeles and Houston.

One closely watched protest was outside the state capitol in Minneapolis' twin city of St. Paul, where several thousand people gathered before marching down a highway.

"We have black sons, black brothers, black friends, we don't want them to die. We are tired of this happening, this generation is not having it, we are tired of oppression," said Muna Abdi, a 31-year-old black woman who joined the protest.

"I want to make sure he stays alive," she added in reference to her son, aged three.

Hundreds of police and National Guard troops were deployed ahead of the protest.

At one point, some of the protestors who had reached a bridge were forced to scramble for cover when a truck drove at speed after having apparently breached a barricade.

The driver was later taken to hospital after the protestors hauled him from the vehicle, although there were no immediate reports of other casualties.

There were other large-scale protests in cities including New York and Miami.

Washington's mayor ordered a curfew from 11:00 pm until 6:00 am, as a report in the New York Times said that President Donald Trump had been rushed by Secret Service agents into an underground bunker at the White House on Friday night during an earlier protest.

Stores ransacked

Large-scale violence has rocked many US cities in recent days, and looters ransacked stores in a neighborhood of Philadelphia on Sunday.

In the Los Angeles suburb of Santa Monica, looting was reported at stores in a popular beachside shopping center.

Officials in LA -- a city scarred by the 1992 riots over the police beating of Rodney King, an African-American man -- imposed a curfew from 4:00 pm Sunday until dawn.

"Please, use your discretion and go early, go home, stay home and help us make sure that those who want to change this conversation from being about racial justice to be about burning things and looting things, don't win the day," the city's mayor Eric Garcetti said on CNN.

The shocking videotaped death last Monday of an unarmed black man, George Floyd, at the hands of police in Minneapolis ignited the nationwide wave of outrage over law enforcement's repeated use of lethal force against unarmed African Americans.

Floyd stopped breathing after Minneapolis police officer Derek Chauvin knelt on his neck for nearly nine minutes.

Chauvin has been charged with third-degree murder and is due to make his first appearance in court on Monday. Three other officers with him have been fired but for now face no charges.

Governor Tim Walz has mobilized all of Minnesota's National Guard troops  -- the state guard's biggest mobilization ever -- to help restore order.

Police fired tear gas and stun grenades to clear streets of curfew violators Saturday night in Minneapolis.

Walz extended a curfew for a third night Sunday and praised police and guardsmen for holding down violence. "They did so in a professional manner. They did so without a single loss of life and minimal property damage," he said.

"Congratulations to our National Guard for the great job they did immediately upon arriving in Minneapolis, Minnesota, last night," President Donald Trump tweeted, adding that they "should be used in other States before it is too late!"

The Department of Defense said that around 5,000 National Guard troops had been mobilized in 15 states as well as the capital Washington, with another 2,000 on standby.

The widespread resort to uniformed National Guards units is rare, and it evoked disturbing memories of the rioting in US cities in 1967 and 1968 in a turbulent time of protest over racial and economic disparities.

Trump blamed the extreme left for the violence, saying he planned to designate a group known as Antifa as a terrorist organization.

"The violence instigated and carried out by Antifa and other similar groups in connection with the rioting is domestic terrorism and will be treated accordingly," added Attorney General Bill Barr.

'A nation in pain'

Atlanta Mayor Keisha Lance Bottoms said Trump, who has often urged police to use tough tactics, was not helping matters.

"We are beyond a tipping point in this country, and his rhetoric only enflames that," she said on CBS.

Joe Biden, Trump's likely Democratic opponent in November's presidential election, visited the scene of one anti-racism protest.

"We are a nation in pain right now, but we must not allow this pain to destroy us," Biden tweeted, posting a picture of him speaking with an African-American family at the site where protesters had gathered in Delaware late Saturday.

Floyd's death has triggered protests beyond the United States, with hundreds rallying outside the US embassy in London in solidarity.

"I'm here because I'm tired, I'm fed up with it. When does this stop?" Doreen Pierre told AFP at the protest.

In Germany, England football international Jadon Sancho marked one of his three goals for Borussia Dortmund against Paderborn by lifting his jersey to reveal a T-shirt bearing the words "Justice for George Floyd".

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
June 15,2020

New Delhi, Jun 15: On Monday, petrol and diesel prices across the country were raised for the ninth consecutive day by 48 paise and 59 paise, respectively.

Petrol price per litre was raised to Rs 76.26 in New Delhi, Rs 83.17 in Mumbai, Rs 79.96 in Chennai, Rs 79.17 in Hyderabad, Rs 78.73 in Bengaluru and Rs 78.10 in Kolkata.

Diesel price per litre was hiked to Rs 74.62 in New Delhi, Rs 73.21 in Mumbai, Rs 72.69 in Chennai, Rs 72.93 in Hyderabad, Rs 70.95 in Bengaluru and Rs 70.33 in Kolkata.

Since 7 June, after ending their 82-day hiatus in daily revision, state-owned oil marketing companies have increased petrol price by Rs 5 per litre and diesel by Rs 5.23 per litre.

These prices are close to levels last seen in October-November 2018 when international oil prices had spiked close to $80 per barrel. In October 2018, petrol price in Mumbai had crossed Rs 90-mark and in Delhi, it was around Rs 83 per litre.

Comparatively, on Monday, Brent crude, the international benchmark for crude oil prices, fell 2.3 percent to $37.84 a barrel over concerns of subdued demand for fuel as new coronavirus infections were reported in China and the US.

The present spike in fuel prices in India could be attributed to the fact that central and state governments, along with oil marketing companies are looking to make up for their loss in revenues due to the lockdown.

Last month, the central government had increased the excise duty on per litre of petrol by Rs 10 and per litre of diesel by Rs 13. Several state governments have also hiked their VAT or cess on fuel in the last month. In fact, now around 70 percent of the retail price of fuel is just some form of tax.

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