Modi govt to lend $1 billion for Adani Australia coal mine

November 17, 2014

Melbourne, Nov 17: Adani Enterprises (ADEL.NS) won support on Monday from the State Bank of India (SBI) and an Australian state to help it build a $7 billion coal mine, defying a slump in coal prices to 5-1/2 year lows that has stalled rival projects.

The trading and infrastructure conglomerate signed a memorandum of understanding for a loan of up to $1 billion from the SBI for the mine, rail and port project in Queensland, which it aims to build by end-2017.

adani"The MOU with SBI is a significant milestone in the development of our Carmichael mine," Adani Group Chairman and founder, Gautam Adani, who has close ties with Indian Prime Minister Narendra Modi, said in a statement.

Adani was in Brisbane with a business delegation for the G20 summit, which Modi attended over the weekend.

The company also won a commitment from the state government to take short-term, minority stakes in rail and port infrastructure needed to unlock massive coal reserves in the untapped Galilee Basin. Coal from the region must be sent 400 km by rail to Australia's east coast.

Adani aims to reach a final investment decision on the Carmichael project in late 2015.

Australia's federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years, but analysts and project finance experts believe Adani may have underestimated the challenge of raising funds for the project.

"People have been very sceptical about the financing of this project. As we always said, we'll keep getting this, one by one. The pieces are falling in place," Adani Mining CEO Jeyakumar Janakaraj told Reuters.

Adani, which is also facing a campaign by anti-coal campaigners, is counting on securing A$1.2 billion to A$1.5 billion in funding from South Korea's export credit agencies, as well as a loan from the U.S. Export-Import Bank.

The company's apparent momentum on Carmichael is in stark contrast to rival Indian firm GVK's slow progress on another huge coal mine in the Galilee Basin, the Alpha project, which is co-owned by Australian billionaire Gina Rinehart.

Much bigger coal rivals, like BHP Billiton (BHP.AX) and Glencore (GLEN.L), have shelved coal developments at a time when a third of Australia's coal output is making losses.

Janakaraj dismissed comments by Indian Power and Coal Minister Piyush Goyal that the country may be able to stop importing thermal coal within three years.

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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
May 25,2020

The Japan government on Monday decided to lift the state of emergency for COVID-19 in Tokyo and four other prefectures of the country, the only places where the measure implemented to curb the pandemic had remained in force.

The lifting of the alert was backed by the coronavirus advisory panel and will be formally approved by the government later day, the economic revitalization minister and head of the working group to coordinate Japan's fight against COVID-19, Yasutoshi Nishimura, said.

The Japanese authorities made the decision after taking into account the number of infections and the situation of the health system in Tokyo, the three neighbouring prefectures of Chiba, Kanagawa and Saitama and the northern Hokkaido, the only ones where the state of emergency declared more than a month ago to control the pandemic remained in effect, reports Efe news.

The health alert was initially declared in Tokyo and six other prefectures on April 17 and subsequently extended across the country.

It allowed local authorities to ban large-scale public events and close bars and restaurants at night, among other measures, while the government has launched a campaign to encourage teleworking and staying at home.

The government resorted to this measure for the first time in the country's recent history to contain the spread of the virus and is now withdrawing it after a sustained slowdown in infections throughout the archipelago, where around 16,600 confirmed COVID-19 cases and 839 deaths have been recorded, according to the latest data.

The group of experts advising the government appreciated the efforts made by citizens to comply with the recommendations to achieve the target of reducing interpersonal contact by 80 percent, top government spokesperson Yoshihide Suga said at a press conference on Monday.

The recommendation for citizens to avoid unnecessary trips outside and the request for non-essential businesses to close were not mandatory nor accompanied by fines or other penalties for non-compliance, unlike the stricter containment measures implemented in other countries.

The government plans to formally approve the lifting of the state of emergency on Monday after consulting with other political parties in parliament and another meeting with the advisory panel, following which Japanese Prime Minister Shinzo Abe will hold a press conference.

The government had already decided to lift the emergency in 39 prefectures on May 14 after they reported a marked decrease in the number of infections, leaving out the more populated regions such as Tokyo and Osaka.

To avoid new outbreaks of the virus, Abe has urged people to become accustomed to a "new lifestyle" that includes maintaining social distancing, the use of masks outside as well as a series of guidelines for the reopening of shops, restaurants and public facilities.

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News Network
March 21,2020

United Nations, Mar 21: The UN has called on all nations to stop the use of capital punishment or put a moratorium on it, a day after four men convicted of gang-raping and murdering a 23-year-old woman were hanged in India.

Seven years after the rape and murder of the young medical student, who came to be known as 'Nirbhaya', sent shock waves across the country, the four convicts - Mukesh Singh (32), Pawan Gupta (25), Vinay Sharma (26) and Akshay Kumar Singh (31) - were hanged to death on Friday at 5.30 am in New Delhi's Tihar Jail.

Responding to the hanging, UN Secretary-General Antonio Guterres' spokesperson Stephane Dujarric said the world organisation calls on all nations to stop the use of capital punishment or put a moratorium on it.

"Our position has been clear, is that we call on all States to halt the use of capital punishment or at least put a moratorium on this," Dujarric said at the daily press briefing on Friday.

The horrific gang-rape and murder of the physiotherapy intern on December 16, 2012, who came to be known as Nirbhaya, the fearless, had seared the nation's soul and triggered countrywide outrage.

This was the first time that four men have been hanged together in Tihar Jail, South Asia's largest prison complex that houses more than 16,000 inmates.

The executions were carried out after the men exhausted every possible legal avenue to escape the gallows. Their desperate attempts only postponed the inevitable by less than two months after the first date of execution was set for January 22.

The execution of the four convicts brings the curtains down on the case that shook not just India but also the world with the details of its brutality The widespread protests subsequently paved the way for a change in India's rape laws.

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