Saudi Arabia announces $100 billion investment in India

News Network
February 21, 2019

New Delhi, Feb 21: Saudi Arabia announced its plan to invest $ 100 billion in India, as Prime Minister Narendra Modi hosted the Crown Prince of the kingdom, Mohammad bin Salman, in New Delhi on Wednesday.

A meeting between Modi and Mohammad bin Salman, a.k.a MbS, at Hyderabad House in New Delhi was followed by signing of five pacts.

“Prime Minister welcomed the announcement of HRH the Crown Prince of Saudi Arabia to invest $ 100 billion in India,” T S Tirumurti, Secretary (Economic Relations) at the Ministry of External Affairs, tweeted after the meeting between the two leaders. New Delhi highlighted the Saudi Arabia's announcement as a “huge vote of confidence” on economy of India.

“This is a clear reflection of the confidence of Saudi Arabia in the vibrancy of the Indian economy and the tremendous opportunities available for investment,” Tirumurti posted on Twitter.

Saudi Arabian investment in India will spread over areas like agriculture, infrastructure, manufacturing and energy, including in crude oil refineries and petrochemical industries.

MbS commenced his tour to Asia with a visit to Pakistan on Sunday and Monday. He pledged an investment of $ 20 billion by Saudi Arabia in Pakistan, which has been desperately looking for support from the kingdom to boost its fragile economy.

After Modi and MbS held the bilateral dialogue at Hyderabad House, External Affairs Minister Sushma Swaraj and Saudi Arabian Minister of Energy, Industry and Mineral Resources, Khalid Al Falih, signed a Memorandum of Understanding (MoU), which would pave the way for the government of the kingdom to invest in the National Investment and Infrastructure Fund of India.

New Delhi's envoy to Riyadh, Ahmad Javed, and Saudi Arabia's Commerce and Investment minister Majid bin Abdullah Al-Qasabi, also signed a “Framework Cooperation Program” between Invest India and the kingdom's General Investment Authority on enhancing bilateral investment relations.

They also signed an MoU between the Government of India and the Government of Saudi Arabia for Cooperation in the field of housing.

Javed and Media Minister of Saudi Arabia Turki Abdullah Al-Shabanah signed an MoU for cooperation on broadcasting between Prasar Bharati and Saudi Broadcasting Corporation for Exchange of audio-visual programme.

An MoU for cooperation in the field of tourism between the Ministry of Tourism of India and the Saudi Commission for Tourism and National Heritage was also inked.

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Agencies
June 30,2020

United Nations, Jun 30: India accounts for 45.8 million of the world's 142.6 million "missing females" over the past 50 years, a report by the United Nations said on Tuesday, noting that the country along with China form the majority of such women globally.

The State of World Population 2020 report released on Tuesday by the United Nations Population Fund (UNFPA), the world organisation's sexual and reproductive health agency, said that the number of missing women has more than doubled over the past 50 years - from 61 million in 1970 to a cumulative 142.6 million in 2020.

Of this global figure, India accounted for 45.8 million missing females as of 2020 and China accounted for 72.3 million.

Missing females are women missing from the population at given dates due to the cumulative effect of postnatal and prenatal sex selection in the past, the agency said.

Between 2013 and 2017, about 460,000 girls in India were missing' at birth each year. According to one analysis, gender-biased sex selection accounts for about two-thirds of the total missing girls, and post-birth female mortality accounts for about one-third, the report said.

Citing data by experts, it said that China and India together account for about 90-95 per cent of the estimated 1.2 million to 1.5 million missing female births annually worldwide due to gender-biased (prenatal) sex selection.

The two countries also account for the largest number of births each year, it said.

The report cites data by Alkema, Leontine and others, 2014 National, Regional, and Global Sex Ratios of Infant, Child, and under-5 Mortality and Identification of Countries with Outlying Ratios: A Systematic Assessment' from The Lancet Global Health.

According to their analysis, India has the highest rate of excess female deaths, 13.5 per 1,000 female births, which suggests that an estimated one in nine deaths of females below the age of 5 may be attributed to postnatal sex selection.

The report notes that governments have also taken action to address the root causes of sex selection. India and Vietnam have included campaigns that target gender stereotypes to change attitudes and open the door to new norms and behaviours.

They spotlight the importance of daughters and highlight how girls and women have changed society for the better. Campaigns that celebrate women's progress and achievements may resonate more where daughter-only families can be shown to be prospering, it said.

The report said that successful education-related interventions include the provision of cash transfers conditional on school attendance; or support to cover the costs of school fees, books, uniforms and supplies, taking note of successful cash-transfer initiatives such as Apni Beti Apna Dhan' in India.

It said that preference for a male child manifested in sex selection has led to dramatic, long-term shifts in the proportions of women and men in the populations of some countries.

This demographic imbalance will have an inevitable impact on marriage systems. In countries where marriage is nearly universal, many men may need to delay or forego marriage because they will be unable to find a spouse, the report said.

This so-called "marriage squeeze", where prospective grooms outnumber prospective brides, has already been observed in some countries and affects mostly young men from lower economic strata.

"At the same time, the marriage squeeze could result in more child marriages, the report said citing experts.

Some studies suggest that the marriage squeeze will peak in India in 2055. The proportion of men who are still single at the age of 50 is forecast to rise after 2050 in India to 10 per cent, it said.

The UN report said that every year, millions of girls globally are subjected to practices that harm them physically and emotionally, with the full knowledge and consent of their families, friends and communities.

At least 19 harmful practices, ranging from breast ironing to virginity testing, are considered human rights violations, according to the UNFPA report, which focuses on the three most prevalent ones: female genital mutilation, child marriage, and extreme bias against daughters in favour of sons.

Harmful practices against girls cause profound and lasting trauma, robbing them of their right to reach their full potential, says UNFPA Executive Director Dr. Natalia Kanem.

This year, an estimated 4.1 million girls will be subjected to female genital mutilation. Today, 33,000 girls under age 18 will be forced into marriages, usually to much older men and an extreme preference for sons over daughters in some countries has fuelled gender-biased sex selection or extreme neglect that leads to their death as children, resulting in the 140 million missing females.

The report said that ending child marriage and female genital mutilation worldwide is possible within 10 years by scaling up efforts to keep girls in school longer and teach them life skills and to engage men and boys in social change.

Investments totalling USD 3.4 billion a year through 2030 would end these two harmful practices and end the suffering of an estimated 84 million girls, it said.

A recent analysis revealed that if services and programmes remain shuttered for six months due to the COVID-19 pandemic, an additional 13 million girls may be forced into marriage and 2 million more girls may be subjected to female genital mutilation between now and 2030.

The pandemic both makes our job harder and more urgent as so many more girls are now at risk, Kanem said.

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News Network
May 18,2020

As many as employees of Zee News have tested positive for the coronavirus, Editor-in-Chief Sudhir Chaudhary said on Monday. Most of them are asymptomatic, he said, tweeting an official statement from Zee News about the situation.

The organisation said that on May 15, one of its employees tested positive for the coronavirus. Following this, the company started testing employees who may have come in contact with the employee. Twenty-seven more were found to be infected.

“Fortunately most of them are asymptomatic and are not complaining of any discomfort,” Zee News said. “We believe this is because of early diagnosis and proactive intervention.”

The news network said all guidelines and protocols have been followed, and its office, newsroom and studios have been sealed for sanitisation. The Zee News team has been shifted to an alternative facility.

“At the moment, Zee Media Corporation has 2,500 employees, by far the largest in the private sector,” the company said. “We are committed to the safety of each one of them.”

Chaudhary also claimed that “those who are infected had the option of sitting at home and sharing memes”. “They came to work because they are committed professionals.”

Following this, some social media users claimed that Zee News employees found infected with Covid-19 were still at work. In response, Chaudhary alleged that a malicious campaign was being conducted to distort his statement. He said no infected employee had come to work, and all the contacts of the employee who tested positive on May 15 had been tested and quarantined.

Over the past two months, journalists from several media organisations have tested positive for the coronavirus. On April 21, 26 employees of a Tamil news channel based in Chennai tested positive for the coronavirus. The previous day, over 50 journalists from Mumbai were found infected, after samples of over 170 journalists were tested.

On May 7, a newspaper journalist died of the coronavirus in Agra. Some states, such as Uttar Pradesh, Karnataka and Delhi, have tested journalists for Covid-19.

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News Network
March 16,2020

New Delhi, Mar 16: Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

They said Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

The officials said Ambani, 60, has sought exemption from appearance on some personal grounds and he may be issued a new date.

Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad are being summoned for questioning in the case to take investigation forward.

Ambani's statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Kapoor, 62, is at present in ED custody after he was arrested by the central probe agency early this month.

The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

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