Proposed regulation on H1B visa holders’ spouses to affect thousands of Indians

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".

Washington, May 20: Once dubbed as historic by him, US President Donald Trump on Tuesday said he now feels ‘differently’ about the trade deal he signed with China earlier this year.

He said this while once again venting out his frustration with the Beijing leadership, accusing it of letting coronavirus spread.

Till Tuesday, over 92,000 Americans have died and 1.5 million tested positive for coronavirus that has globally killed around 320,000 people.

The US and China had signed a deal in January to end their 22-month-long trade war during which the two countries slapped tit-for-tat tariff hikes on products worth nearly half a trillion USD.

Under it, Beijing agreed to increase its purchase of US goods by USD 200 billion in 2020-2021.

“I feel differently now about that deal than I did three months ago,” Trump told reporters during a Cabinet meeting at the White House.

“We will see what all happens, but it's been a very disappointing situation. A very disappointing thing happened with China because the plague flowed in and that wasn't supposed to happen and it could have been stopped," he said.

Trump said he was very excited when the trade deal with China was signed.

“But once the virus came in, once the plague, as I called it, came in, I said how did they let that happen? And how come it didn't go into other sections of China? Why did they block it from leaving Wuhan? But they didn't block it from going to the rest of the world, including the United States. Why is that? Beijing doesn't have it. Other places don't have it,” he said.

Trump did not respond to questions on retaliation against China.

Meanwhile, top American senators continued to press the administration that rules of engagement with China needs to change post-coronavirus.

“As we know, they unleashed this virus on America and the world with their classic communist cover-up, deception, continued propaganda campaign, costing now over 90,000 American lives, 35 million Americans losing their jobs so far,” Senator Martha McSally said during a Congressional hearing.

“We don’t know who patient zero is, they destroyed samples, they silenced doctors, they kicked out journalists, they impacted international travel to seed this and their reckless behaviour continues to be the root of all this,” she said.

As a result of coronavirus, the American economy has been thrown into recession; more than 36 million people have lost their job – the worst ever after last century’s great depression.

Many of the US states have now started opening up, after taking necessary precautions.

By conservative estimates, it will take several quarters for the economy to be back on track.

Trump in the last a few weeks has exuded confidence that the economy will be back on track next year.

Washington, Apr 18: The United States on Friday passed 700,000 confirmed coronavirus cases, according to a tally maintained by Johns Hopkins University.

With the highest number of cases and deaths of any country in the world, the US had recorded 700,282 cases of COVID-19 and 36,773 deaths as of 8:30 pm (0030 GMT Friday), according to the Baltimore-based university.

That marked an increase of 3,856 deaths in the past 24 hours, but that figure likely includes "probable" virus-linked deaths, which had not previously been counted.

This week, New York City said it would add 3,778 "probable" virus deaths to its official count.

The US Centers for Disease Control and Prevention gave a toll Friday night of 33,049 dead, including 4,226 probable virus-linked deaths.

The United States has seen the highest death toll in the world in the coronavirus pandemic, ahead of Italy (22,745 deaths) although its population is just a fifth of that of the US.

Spain has recorded 19,478 deaths, followed by France with 18,681.

Trump announces $19 billion relief for farmers amid COVID-19 epidemic

President Donald Trump on Friday announced a $19 billion financial rescue package to help the agriculture industry weather the staggering economic downturn sparked by measures to defeat the coronavirus.

Trump told a press conference the government "will be implementing a $19 billion relief program for our great farmers and ranchers as they cope with the fallout of the global pandemic."

The program will include direct payments to farmers, ranchers and producers who Trump said have experienced "unprecedented losses during this pandemic."

Agriculture Secretary Sonny Perdue said US farmers have been hit hard by a sharp shift in demand, as schools and restaurants close and more Americans eat at home.

That has disrupted the food supply chain, forcing farmers in many places to destroy dairy output and plow under crops that no longer have buyers.

"Having to dump milk and plow under vegetables ready to market is not only financially distressing, but it's heartbreaking as well to those who produce them," Perdue said.

Perdue said some $3 billion of the money would go to buying produce and milk from such farmers, and redistribute it to community food banks.

Millions of Americans have recently turned to food pantries for meals and groceries after losing their jobs.