Pak among countries providing 'safe havens' to terrorists:US

Agencies
July 20, 2017

Washington, Jul 20: The US today listed Pakistan among the nations and regions providing "safe havens" to terrorists, saying terror groups like the LeT and JeM continue to operate, train, organise and fundraise inside the country in 2016.terrorists

In its annual 'Country Report on Terrorism', as mandated by the Congress, the State Department said that Pakistani military and security forces undertook operations against groups that conducted attacks within Pakistan such as Tehrik-e Taliban Pakistan.

"Pakistan did not take substantial action against the Afghan Taliban or Haqqani, or substantially limit their ability to threaten US interests in Afghanistan, although Pakistan supported efforts to bring both groups into an Afghan-led peace process," the State Department said.

"Pakistan did not take sufficient action against other externally focused groups, such as Lashkar-e-Taiba (LeT) and Jaish-e-Mohammad (JeM) in 2016, which continued to operate, train, organise, and fundraise in Pakistan," the report said. India, it said continued to experience attacks, "including by Maoist insurgents and Pakistan-based terrorists".

Indian authorities continued to blame Pakistan for cross-border attacks in Jammu and Kashmir, it said. "In January, India experienced a terrorist attack against an Indian military facility in Pathankot, Punjab, which was blamed by authorities on JeM. Over the course of 2016, the Government of India sought to deepen counterterrorism cooperation and information sharing with the United States," the State Department said.

The Indian government continued to closely monitor the domestic threat from transnational terrorist groups like ISIS and Al-Qaeda in the Indian Subcontinent (AQIS), which made threats against India in their terrorist propaganda. A number of individuals were arrested for ISIS-affiliated recruitment and attack plotting within India, the report said. In a separate chapter, the State Department listed Pakistan as one of the safe havens of terrorism.

The State Department said that numerous terrorist groups, including the Haqqani Network (HQN), the LeT and JeM continued to operate from Pakistani soil in 2016. "Although LeT is banned in Pakistan, LeT's wings Jamaat- ud-Dawa (JuD) and Falah-i-Insaniat Foundation (FiF) were able to openly engage in fundraising, including in the capital," it said.

"LeT's chief Hafiz Saeed (a UN-designated terrorist) continued to address large rallies, although, in February 2017, Pakistan proscribed him under relevant provisions of Schedule Four of the Anti-Terrorism Act, thus severely restricting his freedom of movement," it noted.

The 2015 ban on media coverage of Saeed, JuD, and FiF continued and was generally followed by broadcast and print media, it said.

According to the State Department, the Pakistani government did not publicly reverse its December 2015 declaration that neither JuD nor FiF is banned in Pakistan, despite their listing under UN sanctions regimes, although in January 2017, Pakistan placed both organisations "under observation" pursuant to Schedule Two of the Anti-Terrorism Act.

While not a ban, keeping the outfits under observation allows the government to closely scrutinise the activities of both organisations. On November 11, Pakistan's National Counterterrorism Authority published its own list of banned organisations that placed JuD in a separate section for groups that are "under observation" but not banned.

Pakistan continued military operations to eradicate terrorist safe havens in the Federally Administered Tribal Areas, although their impact on all terrorist groups was uneven, it said.

In its report to the Congress, the State Department said in 2016, India and the United States pledged to strengthen cooperation against terrorist threats from groups including al-Qaeda, the ISIS, JeM, LeT and D-Company (Dawood Ibrahim's group), including through greater collaboration on designations at the UN.

Indian and US leaders directed officials to identify new areas of collaboration through the July US-India Counterterrorism Joint Working Group, applauded finalisation of a bilateral arrangement to facilitate the sharing of terrorism screening information, and called upon Pakistan to bring the perpetrators of terrorist attacks against India to justice, the report said.

The United States and India worked together to designate JeM leader Maulana Masood Azhar, although the listing was blocked in the UN 1267 Committee, the State Department said. Other areas mentioned in the report as safe havens are Afghanistan, Somalia, the Trans-Sahara, Sulu/Sulawesi Seas Littoral, Southern Philippines, Egypt, Iraq, Lebanon, Libya, Yemen, Columbia and Venezuela.

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
May 6,2020

Singapore, May 6: Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

Brent, the international benchmark, fell 1.1 per cent to $30.63 a barrel in early Asian trade. On Tuesday, the contract surged 14 per cent and rose above $30 for the first time since mid-April.

US marker West Texas Intermediate slipped 1.9 per cent and was changing hands for $24.13 a barrel.

Oil markets have been battered as the virus strangled demand due to business closures and travel restrictions, with US crude falling into negative territory last month for the first time.

They started rallying strongly this week as countries from Europe to Asia ease curbs and economies start shuddering back to life.

But gains were capped Wednesday as dealers follow a brewing US-China row after Donald Trump hit out at Beijing over its handling of the outbreak, saying it began in a Wuhan lab, but so far offering no evidence.

"Traders are incredibly cautious this morning, weighing all the possible China responses," said Stephen Innes, chief global market strategist at AxiCorp.

"And the one that would hurt the most would be for China to reduce imports of US oil."

This week's rally was in part driven by a deal agreed between top producers to reduce output by almost 10 million barrels a day, which came into effect on May 1.

There have also been signs that the massive oversupply in the market is starting to ease as demand slowly comes back.

Energy data provider Genscape said earlier this week that stockpiles at the main US oil depot in Cushing, Oklahoma had increased by only 1.8 million barrels last week following weeks of major rises.

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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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