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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Well Wisher
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Thursday, 5 Sep 2019

LOL. Naave muluguttiruvaaga yaake beku maaraya inthaha saahasa.

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News Network
May 9,2020

Islamabad, May 9: A female doctor posted at Pakistan Institute of Medical Sciences (Pims) Mother and Child Hospital (MCH), who was tested Covid-19 positive, has exposed Pakistan's mismanagement in handling the patients affected with the deadly virus.

Identified herself as Dr. Sharbat, she made a video of herself locked in an isolated room when the authorities failed to provide any medical assistance to her.

According to Pakistani media, the Pakistan Institute of Medical Sciences (Pims) Mother and Child Hospital (MCH) and the operating theatre in the Children's Hospital were sealed on Tuesday after 15 people from both facilities were diagnosed with Covid-19.

Dr. Sharbat said that despite having Covid-19 symptoms after her colleague doctor was tested positive, she was forced to perform duty by the hospital authorities.

After she tested positive, Dr. Sharbat has isolated herself in a room and has requested the hospital authorities to provide her a bed in the hospital.

She said, "I am isolated in a small room. There is no toilet and other facilities at this place. I have requested the authorities several times to provide me proper bed because I cannot go home as my son and father is there. I have no other place to go. Its been several hours now and the administration is busy doing meetings. They have no idea about my location. I have called the concerned officials several times and requested for a room in the hospital, but they said that they are looking for it. This is the kind of arrangements we have that a doctor, who was serving the patients, is not able to get proper care".

Dr Sharbat said that she is feeling depressed after seeing the response of authorities tackling with Covid-19 crisis in the country.

She added, "It is unfortunate that the government salutes [health professionals] but is not willing to provide isolation rooms."

Pakistan's position in the global ranking in respect of Covid-19 dropped from 24th to 22nd after the number of positive cases increased to 26,806 (till May 08) with the addition of 1,791 new cases.

However, the National Coordination Committee (NCC), chaired by Prime Minister Imran Khan, had decided to substantially ease the lockdown from Saturday after detailed deliberations and consultations with the provinces.

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News Network
February 13,2020

Feb 13: Two Indian crew on board a cruise ship off the Japanese coast have tested positive for the novel coronavirus, the Indian Embassy in Japan said on Wednesday as authorities confirmed that 174 people have been infected with the deadly disease.

The cruise ship Diamond Princess with 3,711 people on board arrived at the Japanese coast early last week and was quarantined after a passenger who de-boarded last month in Hong Kong was found to be the carrier of the novel virus on the ship.

A total of 138 Indians, including passengers and crew, were on board the ship.

“Due to the suspicion of novel coronavirus (nCoV) infection, the ship has been quarantined by the Japanese authorities till February 19, 2020,” the embassy said in a statement.

“Altogether 174 people have been tested positive for nCoV, including two Indian crew members,” it said.

All the infected people have been taken to hospitals for adequate treatment, including further quarantine, in accordance with the Japanese health protocol, it said.

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News Network
February 24,2020

Kuala Lumpur, Feb 24: Malaysian Prime Minister Mahathir Mohamad has submitted his resignation to the king, two sources with direct knowledge of the matter told Reuters on Monday, amid talks of forming a new coalition to govern the country.

Mahathir, 94, assumed office in May 2018 for his second stint as prime minister.

A spokesman from the prime minister's office declined to comment, saying only that a statement will be issued soon.

The sources declined to be named as they were not authorised to talk to the media.

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