India is very important inspiration: UN cheif Guterres

Agencies
June 9, 2018

United Nations, Jun 9: Describing India as a "very important inspiration" for the international community, UN chief Antonio Guterres has commended the country for its leadership in a development partnership fund with the UN that he said has emerged as a vital example of deepening South-South cooperation.

Guterres thanked India for its "strong commitment to multilateralism" and to partnership with the United Nations, which he said is expressed in many ways across the global agenda and seen through the activities of this "important" fund.

“India played a very important role in shaping the Sustainable Development Goals. And even before the Goals were crystallized, India’s own development efforts and vision reflected many of the same priorities and aspirations. India is, for all of us, a very important inspiration,” Guterres said in his remarks to an event marking the first anniversary of the India-UN Development Partnership Fund.

“The Fund shows the further deepening of South-South cooperation, an increasingly valuable dimension of our work for development,” the Secretary General said.

The UN Chief, who is expected to visit India later this year, commended India for its “leadership and solidarity”, saying he looks forward to further engagement with the country on the fund.

“And I will have the opportunity soon in Delhi to congratulate the Indian government on this very very important initiative,” he said at the event here yesterday attended by several UN Ambassadors and diplomats.

The India-UN Development Partnership Fund was launched last year with the aim of assisting projects for the implementation of the Sustainable Development Goals (SDGs) in partner countries. It supports Southern-owned and led, demand-driven, and transformational sustainable development projects across the developing world, with a focus on least developed countries and small island developing states.

The fund is managed by the UN Office for South-South Cooperation and UN agencies implement the Fund’s projects in close collaboration with partnering governments. The Indian Government has committed an amount of 100 million dollars over ten years.

In April 2018, the Government of India established a separate Commonwealth Window under the Fund aimed at partnership with developing countries in the Commonwealth. Under this window, an additional sum of USD 50 million over the next five years has been committed for partnerships with developing country members of the Commonwealth. Projects supporting biomedical waste management in Grenada, clean energy in Tuvalu and census data collection in Vanuatu have been approved under this window.

Guterres said that South-South cooperation between developing nations is not an instrument aimed at replacing North-South cooperation between developed and developing nations.

“South-South cooperation is not an instrument for the commitments that were made by developed countries now to be put aside. South-South cooperation must be a stimulus for an intensified North-South cooperation, for the Addis Ababa agenda to be fully implemented and for everybody to assume their responsibilities in the context of a world in which we want a fair globalization, in which justice prevails in international relations,” he said.

India’s Permanent Representative to the UN Syed Akbaruddin said that from the first project of a million dollars, the annual contribution and portfolio of projects has multiplied several times within the first year of the fund’s operation.

Calling for a “1-2-3 process”, Akbaruddin urged the Secretary General to ensure that the speed of implementation of projects entrusted to the UN agencies is enhanced.

Explaining the 1-2-3 process, Akbaruddin said funds are put up up-front and the mechanisms for assessing a project from the partner countries and accepting it in consultation with the South-South Fund has been cut down to less than a month. “So that is part 1,” he said. He added that Part 2 entails that each of the projects in this Fund are implemented quickly and completed within a two-year period, none going beyond the 3rd year.

“Only then can we call it the 1-2-3 process with true meaning and effectiveness. We look forward to the reformed system being put in place from January 1, 2018 providing greater efficiency and effectiveness to the UN’s facilitation of sustainable development efforts across the world and ensuring a 1-2-3 process for triangular cooperation with the Global South,” Akbaruddin said.

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Agencies
May 17,2020

New Delhi, May 17: Eight of the 10 most valued domestic firms suffered a combined erosion of Rs 1,37,311.31 crore in market valuation last week, with Reliance Industries (RIL) taking the biggest knock.

Only Bharti Airtel and ITC from the top-10 list managed to close the week with gains.

RIL's market cap plunged Rs 65,232.46 crore to Rs 9,24,855.56 crore.

The market valuation of HDFC Bank declined Rs 22,347.07 crore to Rs 4,87,083.88 crore and that of Hindustan Unilever Limited tanked Rs 13,192.26 crore to Rs 4,77,458.89 crore.

ICICI Bank's market cap dropped Rs 9,770.06 crore to Rs 2,08,900.79 crore.

Infosys witnessed a decline of Rs 9,518.84 crore in valuation to reach Rs 2,77,814.09 crore while that of HDFC tumbled Rs 9,370.38 crore to Rs 2,83,293.70 crore.

The m-cap of Kotak Mahindra Bank slipped by Rs 7,805.2 crore to Rs 2,25,327.22 crore.

Tata Consultancy Services' market valuation dipped Rs 75.04 crore to Rs 7,10,439 crore.

In contrast, Bharti Airtel added Rs 13,147.89 crore to its valuation to stand at Rs 3,02,292.43 crore.

ITC's valuation also rose by Rs 7,744.11 crore to Rs 2,02,330.13 crore.

In the ranking of top-10 firms, RIL retained the number one spot, followed by TCS, HDFC Bank, HUL, Airtel, HDFC, Infosys, Kotak Mahindra Bank, ICICI Bank and ITC.

During the last week, the Sensex declined 544.97 points or 1.72 per cent.

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Agencies
February 18,2020

British lawmaker Debbie Abrahams' e-Business visa was revoked as she was involved in anti-India activities and the cancellation was conveyed to her on February 14, government sources said on Tuesday.

Asserting that the grant, rejection or revocation of a visa or electronic travel authorisation is the sovereign right of a country, the sources said Abrahams was issued an e-Business visa on October 7 last year which was valid till October 5, 2020 for attending business meetings.

"Her e-Business visa was revoked on February 14, 2020 on account of her indulging in activities which went against India's national interest. The rejection of the e-Business visa was intimated to her on February 14," a source said.

Abrahams, who chairs a British parliamentary group on Kashmir, was denied entry into India upon her arrival at the New Delhi airport on Monday.

Government officials had said on Monday also that she was informed in advance that her e-visa had been cancelled.

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News Network
February 10,2020

New Delhi, Feb 10: Former Jammu and Kashmir chief minister Omar Abdullah's sister on Monday moved the Supreme Court to challenge his detention under the Public Safety Act.

Senior advocate Kapil Sibal, appearing for the petitioner, mentioned the matter for urgent listing before a bench headed by Justice N V Ramana.

Sibal told the bench that they have filed a habeas corpus petition challenging the detention of Abdullah under the PSA and the matter should be heard this week.

The bench agreed for urgent listing of the matter.

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