India offers $1 billion loan for development of Russia’s Far East

Agencies
September 5, 2019

Vladivostok, Sept 5: Prime Minister Narendra Modi on Thursday said India will walk shoulder-to-shoulder with Russia in its development of the Far East and announced a $1 billion line of credit for the development of the resource-rich region.

Addressing the plenary session of the 5th Eastern Economic Forum here, Prime Minister Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations.

"India's connection to Russia's Far East go back a long way. India was the first country to open a Consulate in Vladivostok," he said.

"For the development of Far East, India will give line of credit worth $1 billion. My government has actively engaged East Asia as part of its 'Act East' policy. I firmly believe that today's announcement will add a new dimension to the economic diplomacy of the two countries," Modi said at a packed house here.

The Prime Minister, in the presence of Russian President Vladimir Putin, also unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region.

"Let us deepen the bond between India and Russia even further. India is proud of the achievements of the Indian diaspora. I am sure here in the Russian Far East too the Indian diaspora will make an active contribution towards the region's progress," Modi said.

"India is a proud and active participant in the various activities of the Eastern Economic Forum. Participation has come from top levels of government and industry," he said.

Indian firms have invested over $7 billion in taking stake in Russian oil and gas fields. India ventured into Russia when its flagship overseas firm ONGC Videsh in 2001 acquired a 20 per cent stake in Sakhalin-1 oil and gas field in Far East Russia.

OVL later bought Imperial Energy, which has fields in Siberia, as also stakes in Vankor oilfield in eastern Siberia.

IOC and its partners have picked up 29.9 per cent stake in a separate Taas-Yuryakh oilfield in East Siberia.

Russian oil firm Rosneft in 2017 bought Essar Oil, which operates in Vadinar oil refinery in Gujarat and some 5,500 petrol pumps, for $12.9 billion.

Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the President has opened up investment opportunities for India in the region.

"By declaring the development of the Russian Far East a 'national priority for the 21st century', President Putin has taken a holistic approach towards improving everything ranging from economy, education, health to sports, culture or communication," he said.

Prime Minister Modi also emphasised on India's commitment to become a five trillion dollar economy by 2024.

Modi, who arrived in Russia on a two-day visit on Wednesday, is the first Indian prime minister to visit to the Russian Far East Region.

He arrived here to participate in the 20th India-Russia annual summit with President Putin and the fifth meeting of the Eastern Economic Forum (EEF).

The forum focuses on development of business and investment opportunities in the Russian Far East Region, and presents enormous potential for developing close and mutually beneficial cooperation between India and Russia in the region.

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Thursday, 5 Sep 2019

LOL. Naave muluguttiruvaaga yaake beku maaraya inthaha saahasa.

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Agencies
February 29,2020

Doha, Feb 29: The United States signed a landmark deal with the Taliban on Saturday, laying out a timetable for a full troop withdrawal from Afghanistan within 14 months as it seeks an exit from its longest-ever war.

President Donald Trump urged the Afghan people to embrace the chance for a new future, saying the deal held out the possibility of ending the 18-year conflict.

"If the Taliban and the government of Afghanistan live up to these commitments, we will have a powerful path forward to end the war in Afghanistan and bring our troops home," he said on the eve of the event in Doha.

Secretary of State Mike Pompeo arrived in the Qatari capital to witness the signing of the accord, while Defence Secretary Mark Esper was in Kabul for a separate joint declaration with the Afghan government.

The agreement is expected to lead to a dialogue between the Kabul government and the Taliban that, if successful, could ultimately see the Afghan war wind down.

But the position of the Afghan government, which has been excluded from direct US-Taliban talks, remains unclear and the country is gripped by a fresh political crisis amid contested election results.

The United States and its allies will withdraw all their forces from Afghanistan within 14 months if the Taliban abide by the Doha agreement, Washington and Kabul said in a joint statement.

After an initial reduction of troops to 8,600 within 135 days of Saturday's signing, the US and its partners "will complete the withdrawal of their remaining forces from Afghanistan within 14 months... and will withdraw all their forces from remaining bases", the declaration stated.

The Doha accord was drafted over a tempestuous year of dialogue marked by the abrupt cancellation of the effort by Trump in September.

The signing comes after a week-long, partial truce that has mostly held across Afghanistan, aimed at building confidence between the warring parties and showing the Taliban can control their forces.

NATO Secretary General Jens Stoltenberg heralded the agreement as a "first step to lasting peace".

"The way to peace is long and hard. We have to be prepared for setbacks, spoilers, there is no easy way to peace but this is an important first step," the Norwegian former prime minister told reporters in Kabul.

Since the US-led invasion that ousted the Taliban after the September 11, 2001 attacks, America has spent more than $1 trillion in fighting and rebuilding in Afghanistan.

About 2,400 US soldiers have been killed, along with unknown tens of thousands of Afghan troops, Taliban fighters and Afghan civilians.

The insurgents said they had halted all hostilities Saturday in honour of the agreement.

"Since the deal is being signed today, and our people are happy and celebrating it, we have halted all our military operations across the country," Taliban spokesman Zabihullah Mujahid told AFP.

Close to 30 nations were represented at Saturday's signing in the Qatari capital.

While Kabul will not be represented at the Doha ceremony, set for 1245 GMT, it will send a six-person taskforce to the Qatari capital to make initial contact with the Taliban political office, established in 2013.

Any insurgent pledge to guarantee Afghanistan is never again used by jihadist movements such as Al-Qaeda and the Islamic State group to plot attacks abroad will be key to the deal's viability.

The Taliban's sheltering of Al-Qaeda was the main reason for the US invasion following the 9/11 attacks.

The group, which had risen to power in the 1990s in the chaos of civil war, suffered a swift defeat at the hands of the US and its allies. They retreated before re-emerging to lead a deadly insurgency against the new government in Kabul.

After the NATO combat mission ended in December 2014, the bulk of Western forces withdrew from the country, leaving it in an increasingly precarious position.

While Afghans are eager to see an end to the violence, experts say any prospective peace will depend on the outcome of talks between the Taliban and the Kabul government.

But with President Ashraf Ghani and rival Abdullah Abdullah at loggerheads over contested election results, few expect the pair to present a united front, unlike the Taliban, who would then be in a position to take the upper hand in negotiations.

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News Network
May 29,2020

Karachi, May 29: Investigators and rescue officials have found around Rs 3 crore in cash in the wreckage of the Pakistan International Airlines' aircraft that crashed wth 99 people on board, killing 97 people, including nine children.

Flight PK-8303 from Lahore to Karachi crashed in a residential area near Karachi International Airport on Friday, with only two passengers miraculously surviving the crash.

Investigators and rescue officials have found currencies of different countries and denominations worth around Rs 30 million from the aircraft's wreckage, an official said on Thursday.

"An investigation has been ordered into how such a huge amount of cash got through airport security and baggage scanners and found its way into the ill-fated flight," the official said.

He said that the amount was recovered from two bags in the wreckage.

"The process of identifying the bodies and their luggage which will be handed over to their families and relatives is going on," he said.

A total of 97 people including the aircraft crew died in the crash, one of the most catastrophic aviation disasters in Pakistan's history.

A government official said on Thursday that the identification of 47 bodies had been completed, while 43 bodies were handed over for burial.

Friday's accident was the first major aircraft crash in Pakistan after December 7, 2016 when a PIA ATR-42 aircraft from Chitral to Islamabad crashed midway. The crash claimed the lives of all 48 passengers and crew, including singer-cum-evangelist Junaid Jamshed.

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News Network
June 11,2020

Beijing, Jun 11: Floods and mudslides in south China have uprooted hundreds of thousands of people and left dozens dead or missing, state media reported Thursday.

The bad weather has wreaked havoc on popular tourist areas that had already been battered by months of travel restrictions during the coronavirus outbreak.

Torrential downpours unleashed floods and mudslides that caused nearly 230,000 people to be relocated and destroyed more than 1,300 houses, official state news agency Xinhua reported, citing the Ministry of Emergency Management.

In southern Guangxi Zhuang Autonomous Region, six people were reported dead and one missing, Xinhua said.

Streets were waterlogged in popular tourist destination Yangshuo, forcing residents and visitors to evacuate on bamboo rafts.

The local government said more than 1,000 hotels had been flooded and more than 30 tourist sites damaged.

One owner of a family-run hotel told Xinhua that the guest rooms were submerged in one metre (three feet) of rainwater.

The extreme weather has dealt a hefty blow to the region's tourism sector, which is still reeling from the COVID-19 epidemic.

The emergency management ministry said there were direct economic losses of over 4 billion yuan (more than $550 million) from the flooding, Xinhua reported.

In Hunan Province, at least 13 people were killed in rain-triggered disasters, and another eight people are missing or killed in southwestern Guizhou province, according to the local emergency response departments, Xinhua said.

The heavy downpours began at the beginning of June and have led to "dangerously high water levels" in 110 rivers, Xinhua reported.

Further rainstorms are expected in the next few days across the south.

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