Japan makes exception; signs historic nuclear deal with India

November 11, 2016

Tokyo, Nov 11: Making an exception, Japan today signed a historic civil nuclear cooperation deal with India, opening the door for collaboration between their industries in the field even as the countries signed nine other agreements in various areas to bolster bilateral ties.Japan-India

The agreements, including the one for cooperation in peaceful uses of nuclear energy, marks a historic step in their engagement to build a clean energy partnership, Prime Minister Narendra Modi said after wide-ranging talks with his Japanese counterpart Shinzo Abe.

The nuclear agreement comes after tough negotiations for over six years between the two countries and Abe said at the joint media interaction with Modi that he was delighted over the signing of agreement on peaceful use of nuclear energy.

"This agreement is a legal framework that India will act responsibly in peaceful uses of nuclear energy and also in Non-Proliferation regime even though India is not a participant or signatory of NPT," he said.

"It (the agreement) is in line with Japan's ambition to create a world without nuclear weapons," said Abe, whose country has traditionally adopted a tough stand on proliferation issues having been the only victim of atomic bombings during World War II.

He noted that India in September 2008 had made its intention of peaceful uses of nuclear energy and also announced moratorium on nuclear tests.

"Today's signing of the Agreement for Cooperation in Peaceful Uses of Nuclear Energy marks a historic step in our engagement to build a clean energy partnership," Modi said.

"Our cooperation in this field will help us combat the challenge of Climate Change. I also acknowledge the special significance that such an agreement has for Japan," he said and thanked Abe, Japanese government and Parliament for their support to this agreement.

Other nations who have signed civil nuclear deal with India include the US, Russia, South Korea, Mongolia, France, Namibia, Argentina, Canada, Kazakhstan and Australia.

In his remarks, Prime Minister Modi said as democracies, the two countries "support openness, transparency and the rule of law".

"We are also united in our resolve to combat the menace of terrorism, especially cross-border terrorism," he said.
Later, speaking at a Banquet hosted by Abe in his honour, Modi said there is also a lot that the two sides can do together as close partners, not just for the benefit of their societies, but also for the region and the whole world.

"Our capacities could also combine to respond to both, the opportunities and challenges that we jointly face in present times. And, together with the global community we can, and we must, combat the rising threats of radicalisation, extremism and terrorism," he said.

Abe pushed for universalization of the NPT, entry into force of Comprehensive Nuclear-Test-Ban Treaty (CTBT) and start of negotiations at the earliest on Fissile Material Cutoff Treaty (FMCT).

"The two Prime Ministers welcomed the signing of the Agreement between the Government of Japan and the Government of the Republic of India for Cooperation in the Peaceful Uses of Nuclear Energy which reflects a new level of mutual confidence and strategic partnership in the cause of clean energy, economic development and a peaceful and secure world," said a joint statement.

Modi said deeper economic engagement, growth of trade, manufacturing and investment ties, focus on clean energy, partnership to secure the citizens, and cooperation on infrastructure and skill development are among key priorities.

"India and its economy are pursuing many transformations. Our aim is to become a major centre for manufacturing, investments and for the 21st century knowledge industries.

"And, in this journey, we see Japan as a natural partner. We believe there is vast scope to combine our relative advantages, whether of capital, technology or human resources, to work for mutual benefit," he said in his joint interaction.

The Prime Minister said that the strategic partnership between the two countries also brings peace, stability and balance to the region. It is alive and responsive to emerging opportunities and challenges in Asia-Pacific, he said.

The successful Malabar naval exercise has underscored the convergence in the two sides' strategic interests in the broad expanse of the waters of the Indo-Pacific, Modi said.

On his part, Abe mentioned the high speed train corridor between Mumbai and Ahmedabad that is being built with the help of Japan, saying the project symbolizes a new dimension in the special relations.

Prime Minister Abe said the designing of the project will begin by the end of this year, construction will begin in 2018 and the high speed train will be in service from 2023.

He said Modi, who will travel by one such train to Kobe city tomorrow from here, will see for himself that it is the safest technology in the world.

The Japanese private sector also would be setting up an institute of manufacturing in India to train about 30,000 people in 10 years, particularly in rural areas, Abe said.

Abe said Japan will set up a tourism bureau in New Delhi to encourage people-to-people contacts. He said he wants to work with Modi in liberalizing the visa rules.

"India-Japan relations have the greatest potential in the world. Strong India is in the best interest of Japan and strong Japan is in the best interest of India," Abe said.

Noting that he had met Modi for the third time in one year, Abe praised him, saying he had a "global vision" and was a "decisive leader".

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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Agencies
July 2,2020

Moscow, Jul 2: Russian voters approved changes to the constitution that will allow President Vladimir Putin to hold power until 2036, but the weeklong plebiscite that concluded Wednesday was tarnished by widespread reports of pressure on voters and other irregularities.

With most of the nation's polls closed and 20% of precincts counted, 72% voted for the constitutional amendments, according to election officials.

For the first time in Russia, polls were kept open for a week to bolster turnout without increasing crowds casting ballots amid the coronavirus pandemic a provision that Kremlin critics denounced as an extra tool to manipulate the outcome.

A massive propaganda campaign and the opposition's failure to mount a coordinated challenge helped Putin get the result he wanted, but the plebiscite could end up eroding his position because of the unconventional methods used to boost participation and the dubious legal basis for the balloting.

By the time polls closed in Moscow and most other parts of Western Russia, the overall turnout was at 65%, according to election officials. In some regions, almost 90% of eligible voters cast ballots.

On Russia's easternmost Chukchi Peninsula, nine hours ahead of Moscow, officials quickly announced full preliminary results showing 80% of voters supported the amendments, and in other parts of the Far East, they said over 70% of voters backed the changes.

Kremlin critics and independent election observers questioned the turnout figures.

We look at neighboring regions, and anomalies are obvious there are regions where the turnout is artificially (boosted), there are regions where it is more or less real, Grigory Melkonyants, co-chair of the independent election monitoring group Golos, told The Associated Press.

Putin voted at a Moscow polling station, dutifully showing his passport to the election worker. His face was uncovered, unlike most of the other voters who were offered free masks at the entrance.

The vote completes a convoluted saga that began in January, when Putin first proposed the constitutional changes.

He offered to broaden the powers of parliament and redistribute authority among the branches of government, stoking speculation he might seek to become parliamentary speaker or chairman of the State Council when his presidential term ends in 2024.

His intentions became clear only hours before a vote in parliament, when legislator Valentina Tereshkova, a Soviet-era cosmonaut who was the first woman in space in 1963, proposed letting him run two more times.

The amendments, which also emphasize the primacy of Russian law over international norms, outlaw same-sex marriages and mention a belief in God as a core value, were quickly passed by the Kremlin-controlled legislature.

Putin, who has been in power for more than two decades longer than any other Kremlin leader since Soviet dictator Josef Stalin said he would decide later whether to run again in 2024.

He argued that resetting the term count was necessary to keep his lieutenants focused on their work instead of darting their eyes in search for possible successors.

Analyst Gleb Pavlovsky, a former Kremlin political consultant, said Putin's push to hold the vote despite the fact that Russia has thousands of new coronavirus infections each day reflected his potential vulnerabilities.

Putin lacks confidence in his inner circle and he's worried about the future, Pavlovsky said.

He wants an irrefutable proof of public support.

Even though the parliament's approval was enough to make it law, the 67-year-old Russian president put his constitutional plan to voters to showcase his broad support and add a democratic veneer to the changes.

But then the coronavirus pandemic engulfed Russia, forcing him to postpone the April 22 plebiscite.

The delay made Putin's campaign blitz lose momentum and left his constitutional reform plan hanging as the damage from the virus mounted and public discontent grew.

Plummeting incomes and rising unemployment during the outbreak have dented his approval ratings, which sank to 59%, the lowest level since he came to power, according to the Levada Center, Russia's top independent pollster.

Moscow-based political analyst Ekaterina Schulmann said the Kremlin had faced a difficult dilemma: Holding the vote sooner would have brought accusations of jeopardizing public health for political ends, while delaying it raised the risks of defeat.

Holding it in the autumn would have been too risky, she said.

In Moscow, several activists briefly lay on Red Square, forming the number 2036 with their bodies in protest before police stopped them.

Some others in Moscow and St. Petersburg staged one-person pickets and police didn't intervene.

Several hundred opposition supporters rallied in central Moscow to protest the changes, defying a ban on public gatherings imposed for the coronavirus outbreak. Police didn't intervene and even handed masks to the participants.

Authorities mounted a sweeping effort to persuade teachers, doctors, workers at public sector enterprises and others who are paid by the state to cast ballots. Reports surfaced from across the vast country of managers coercing people to vote.

The Kremlin has used other tactics to boost turnout and support for the amendments.

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Agencies
August 3,2020

New York, Aug 3: The number of coronavirus cases confirmed all over the world has surpassed 18 million, while the global COVID-19 death toll stands at over 687,000 according to data from the Johns Hopkins University's Coronavirus Resource Center.

As of 06:00 Moscow time on Monday (03:00 GMT), there are 18,017,556 confirmed coronavirus cases in the world. The global death toll from COVID-19 stands at 687,930. The number of recovered individuals stands at 10,649,108.

The United States remains the country with the largest number of cases (4,665,932) and the highest COVID-19 death toll (154,841), according to the latest data from the Johns Hopkins University.

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