'A new history starts now': Leaders of two Koreas begin summit

Agencies
April 27, 2018

Seoul, Apr 27: Smiling and holding hands, North Korean leader Kim Jong Un and South Korean President Moon Jae-in met at the heavily fortified demilitarised zone between the countries on Friday in the first summit for the two Koreas in over a decade.

Scenes of Moon and Kim joking and walking together marked a striking contrast to last year's barrage of North Korean missile tests and its largest ever nuclear test that led to sweeping international sanctions and fears of a fresh conflict on the Korean peninsula.

The dramatic meeting, aimed at ending their decades-long conflict, comes weeks before Kim is due to meet U.S. President Donald Trump.

"We are at a starting line today, where a new history of peace, prosperity and inter-Korean relations is being written," Kim said before the two Korean leaders and their top aides began talks.

Moon and Kim are expected to discuss denuclearisation and exchanges between the Koreas and also will plant a memorial tree at the border truce village of Panmunjom. Just days before the summit, Kim said North Korea would suspend nuclear and long-range missile tests and dismantle its only known nuclear test site.

But there is widespread scepticism about whether Kim is ready to abandon the hard-earned nuclear arsenal his country has defended and developed for decades as what it says is a necessary deterrent against U.S. invasion.

Two earlier summits between the leaders of North and South Korea, in Pyongyang in 2000 and 2007, failed to halt the North's weapons programmes or improve relations in a lasting way.

"Today, rather than create results we won't be able to carry out like in the past, we should make good results by talking frankly about current issues, issues of interest," Kim said.

FIRST ACROSS THE LINE

Moon greeted Kim at the military demarcation line, making Kim the first North Korean leader to set foot in the South since the 1950-53 Korean War.

In an unplanned move, Kim invited Moon to step briefly across into North Korea, before the two leaders crossed back into South Korea holding hands.

The two were handed flowers by a South Korean children, residents of a village situated in the demilitarised zone.

The pair were met on a red carpet by a South Korean honour guard in historical costumes and playing traditional music.

Kim wore glasses and his trademark black Mao suit, while the rest of the North Korean delegation appeared in military uniforms or Western attire.

"A new history starts now. An age of peace, from the starting point of history," Kim wrote in Korean in a guest book in the South's Peace House before talks began.

"I hope we will be able to talk frankly and come to an agreement to give a big present for the Koreans and the people around the world who wish for peace," Moon said as the two began their official talks.

Minutes before Kim entered Peace House, a North Korean security team conducted a sweep for explosives and listening devices, and sprayed apparent disinfectant in the air, on the chairs, and on the guest book.

The United States is hopeful talks between Kim and Moon will make progress on achieving peace and prosperity, the White House said in a statement as the two men began their summit.

The White House also said it looks forward to continuing discussions with South Korea in preparation for the planned meeting of Trump and Kim in the coming weeks.

Just months ago, Trump and Kim were trading threats and insults as the North made rapid advances in pursuit of nuclear-armed missiles capable of hitting the United States.

Earlier Friday, North Korea's official KCNA news agency said Kim would "open-heartedly discuss with Moon Jae-in all the issues arising in improving inter-Korean relations and achieving peace, prosperity and reunification of the Korean peninsula."

Moon travelled to the meeting in a large motorcade, stopping briefly to greet dozens of summit supporters waving South Korean flags near the presidental Blue House in Seoul.

Hundreds of demonstrators were seen gathering in downtown Seoul from early morning to protest or support the summit.

UNENDING HOSTILITIES

The two countries expect to release a joint statement late on Friday - possibly called the Panmunjom Declaration - that could address denuclearisation and peace, and an improvement in relations, South Korean officials said.

Impoverished North Korea and the rich, democratic South are technically still at war because the Korean War ended in a truce, not a peace treaty.

The United States stations 28,500 troops in South Korea as a legacy of the Cold War conflict, which pitted the South, the United States and United Nations forces against the communist North, backed by China and Russia.

Kim and Trump are expected to meet in late May or June, with Trump saying on Thursday he was considering several possible dates and venues.

The White House released two photographs of then Secretary of State-designate and CIA chief Mike Pompeo's meeting with Kim in North Korea over the Easter weekend to discuss the planned summit. It was Kim's first known meeting with a U.S. official.

The latest Korean summit has particular significance not least because of its venue: the Demilitarised Zone, a 160-mile (260-km) long, 2.5-mile (4-km) wide strip of land created in the 1953 armistice to serve as a buffer between the South and North.

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News Network
January 31,2020

New Delhi, Jan 31: Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.

As per the first advance estimates released by the National Statistical Organisation (NSO), the country's economic growth is likely to hit an 11-year low of 5 per cent in the current fiscal ending March 2020.

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21.

The Indian economy has hit the bottom and it will see an uptick from here, he said in a media briefing post the Economic Survey.

Amidst a weak environment for global manufacturing, trade and demand, the Indian economy slowed down with GDP growth moderating to 4.8 per cent in the first half of 2019-20, lower than 6.2 per cent in H2 of 2018-19.

Based on NSO's first advance estimates of GDP growth for 2019-20 at 5 per cent, an uptick in GDP growth is expected in the second half of the fiscal, it said.

According to it, the uptick in second half of 2019-20 would be mainly due to ten positive factors like picking up of Nifty India Consumption Index for the first time this year, an upbeat secondary market, higher FDI flows, build-up of demand pressure, positive outlook for rural consumption, rebound of industrial activity, steady improvement in manufacturing, growth in merchandise exports, higher build-up of foreign exchange reserves and positive growth rate of GST revenue collection.

The survey also emphasised that merger of public sector banks may increase the financial strength of the merged entities, lower the risk aversion and result in lowering of lending rates.

Further, as the implementation of GST further settles down, the increased unification of the domestic market may reduce business costs and facilitate fresh investment.

Reforms in land and labour market may further reduce business costs, said the survey, presented a day before Sitharaman's Union Budget 2020-21.

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Agencies
June 14,2020

Mumbai, Jun 14: A 42-year old man suddenly collapsed and died due to natural causes onboard Air India's Lagos-Mumbai flight on Sunday, the national carrier said.

The flight was part of Vande Bharat Mission, under which the Central government is operating special repatriation flights to bring back stranded Indians from abroad amid the coronavirus pandemic.

Air India's flight AI 1906 departed from Lagos in Nigeria at 7 pm Indian Standard Time on Saturday and landed in Mumbai at 3.45 am on Sunday.

"A passenger aboard AI 1906 of June 13 from Lagos to Mumbai passed away due to natural causes today.

"A doctor onboard along with our crew, trained to handle such medical emergencies, made a valiant attempt to revive the passenger, aged 42, who had suddenly collapsed, through resuscitation etc but all their efforts went in vain," the airline's spokesperson said.

He was declared dead onboard by the attending doctor. Mumbai International Airport Limited doctors attended to the passenger after the flight landed at 3.45 am and after all the procedures were complete, the body was sent to a hospital as per protocol, the spokesperson noted.

Relatives of the deceased were informed and aircraft was taken for full fumigation as per the norms, the spokesperson said.

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News Network
March 23,2020

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

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