OPEC, Russia approve 'historic' oil cuts amid coronavirus

News Network
April 13, 2020

Vienna, Apr 13: Top oil-producing countries agreed on "historic" output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday.

The US benchmark WTI climbed 7.7 percent to $24.52 a barrel in early Asian trade while Brent was up 5.0 percent at $33.08.

OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal via videoconference Sunday after Mexico had balked at an earlier agreement struck on Friday.

In the compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to Mexican Energy Minister Rocio Nahle, down slightly from 10 million barrels a day envisioned earlier.

OPEC Secretary General Mohammad Barkindo called the cuts "historic".

"They are largest in volume and the longest in duration, as they are planned to last for two years," he said.

The agreement between the Vienna-based Organization of the Petroleum Exporting Countries and partners foresees deep output cuts in May and June followed by a gradual reduction in cuts until April 2022.

Barkindo added that the deal "paved the way for a global alliance with the participation of the G20".

Saudi Energy Minister Prince Abdulaziz bin Salman, who chaired the meeting together with his Russian and Algerian counterparts, also confirmed that the discussions "ended with consensus".

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News Network
April 28,2020

Geneva, Apr 28: The global death toll from the novel coronavirus has increased over the past 24 hours by nearly 5,000 to top 198,000, the World Health Organisation (WHO) said.

According to the latest WHO data, 85,530 new cases of infection have been registered globally over the past day, with 4,982 deaths.

The overall number of COVID-19 cases worldwide increased to 2,878,196 and the death count reached 198,668.

There are 1,359,380 confirmed cases and 124,525 deaths in Europe.

The number of cases in the Americas total 1,140,520, with 58,492 deaths.

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News Network
April 4,2020

Madrid, Apr 4: Spain recorded a second successive daily drop in coronavirus-related deaths with 809 fatalities, official figures showed Saturday.

The total number of deaths in Spain now stands at 11,744, second only to Italy. A record 950 people died on Thursday.

The number of new cases also slowed at 7,026, taking the total to 124,736.

Recoveries over the last 24 hours stood at 3,706, taking that total to 34,219.

The Madrid region was the worst affected accounting for 40 percent of the deaths, 4,723, and 29 percent of the cases at 36,249. The northeastern region of Catalonia was in second place with 2,508 deaths.

Prime Minister Pedro Sanchez is due to decide whether to prolong the emergency measures and confinement declared on March 14 for another two weeks in order to get on top of the outbreak.

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News Network
July 11,2020

Istanbul, Jul 11: Turkish President Recep Tayyip Erdogan announced Friday that the Hagia Sophia, one of the architectural wonders of the world, would be reopened for Muslim worship, sparking fury in the Christian community and neighbouring Greece.

His declaration came after a top Turkish court revoked the sixth-century Byzantine monument's status as a museum, clearing the way for it to be turned back into a mosque.

The UNESCO World Heritage site in historic Istanbul, a magnet for tourists worldwide, was first constructed as a cathedral in the Christian Byzantine Empire but was converted into a mosque after the Ottoman conquest of Constantinople in 1453.

The Council of State, Turkey's highest administrative court, unanimously cancelled a 1934 cabinet decision to turn it into a museum and said Hagia Sophia was registered as a mosque in its property deeds.

The landmark ruling could inflame tensions not just with the West and Turkey's historic foe Greece but also Russia, with which Erdogan has forged an increasingly close partnership in recent years.

'Millions of Christians not heard'

Greece swiftly branded the move by Muslim-majority Turkey an "open provocation to the civilised world".

"The nationalism displayed by Erdogan... takes his country back six centuries," Culture Minister Lina Mendoni said in a statement.

The Russian Orthodox Church was equally scathing.

"The concern of millions of Christians were not heard," Church spokesman Vladimir Legoida told Interfax news agency.

The decision "shows that all pleas regarding the need to handle the situation extremely delicately were ignored," he said.

UNESCO chief Audrey Azoulay said she "deeply regrets" the decision made without prior dialogue with the UN's cultural agency.

The move was also condemned by the US Commission on International Religious Freedom, which said it was an "unequivocal politicisation" of the monument.

Hagia Sophia, which stands opposite the impressive Sultanahmet Mosque -- often called the Blue Mosque, has been a museum since 1935 and open to believers of all faiths.

Transforming it from a mosque was a key reform under the new republic born out of the ashes of the Ottoman Empire.

Sharing a presidential decree which named Hagia Sophia as a "mosque", Erdogan announced its administration would be handed over to Turkey's religious affairs directorate known as Diyanet.

"May we be blessed," he commented. The decree was published on the official gazette.

Erdogan has in recent years placed great emphasis on the battles which resulted in the defeat of Byzantium by the Ottomans, with lavish celebrations held every year to mark the conquest.

Muslim clerics have occasionally recited prayers in the museum on key anniversaries or religious holidays.

"The decision is intended to score points with Erdogan's pious and nationalist constituents," said Anthony Skinner of the risk assessment firm Verisk Maplecroft.

"Hagia Sophia is arguably the most conspicuous symbol of Turkey's Ottoman past -- one which Erdogan is leveraging to strengthen his base while snubbing domestic and foreign rivals," he told AFP.

'Chains broken'

A few hundred Turks carrying Turkish flags gathered outside Hagia Sophia shouting "Chains broken, Hagia Sophia reopened".

Police heightened security measures around the building, according to AFP journalists.

"It's been a dream since we were kids," said Erdal Gencler, an Istanbul resident.

"(Hagia Sophia) finds its true purpose again. We are very excited, proud, and hopeful that there will be beautiful services here," he added.

Fatma, a woman with tearful eyes, said: "Of course I am crying. (Hagia Sophia) belongs to us."

Ahead of the court decision, Justice Minister Abdulhamit Gul shared a picture of Hagia Sophia on his official Twitter account, with a message: "Have a good Friday."

Finance Minister Berat Albayrak, Erdogan's son-in-law, tweeted that Hagia Sophia would be reopened to Muslim worship "sooner or later", referring to a quote from Turkish poet Necip Fazil Kisakurek.

The Council of State had on July 2 debated the case brought by a Turkish group -- the Association for the Protection of Historic Monuments and the Environment, which demanded Hagia Sophia be reopened for Muslim prayers.

Since 2005, there have been several attempts to change the building's status. In 2018, the Constitutional Court rejected one application.

Despite occasional protests outside the site by Islamic groups, Turkish authorities had until now kept the building as a museum.

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