'When decision is right, its echo is heard across globe': PM in Bangkok

News Network
November 3, 2019

Bangkok, Nov 3: India has eliminated a big reason behind sowing of seeds of terrorism and separatism, Prime Minister Narendra Modi said here on Saturday, in a clear reference to abrogation of Article 370 from Jammu and Kashmir and reorganisation of the state.

The Prime Minister's remarks on Kashmir at an Indian diaspora meet in this bustling Thai capital city were greeted with laud applause and a standing ovation by around 5,000 people. "You are aware that India has decided to eliminate a big reason behind sowing of seeds of terrorism and separatism," Modi said.

"When a decision is right, its echo is heard across the globe. And I can hear it in Thailand as well," he said at the 'Sawasdee PM Modi' event at an indoor stadium in central Bangkok. The government has been maintaining that Article 370 providing special status to Jammu and Kashmir was a reason behind terrorism and separatism in the state.

As people stood up and hailed his remarks, Modi said the standing ovation was for India's Parliament and parliamentarians and that their blessings will further energize Indian lawmakers to work harder for the nation. "Your standing ovation will further energize our Parliamentarians. It is a salute to India's Parliament," he said.

In his nearly 50-minute speech Modi also spoke on a range of issues including the welfare measures rolled out by his government, his return to power with a bigger mandate in the Lok Sabha elections, strength of the Indian economy, importance of Indian diaspora in overall growth of the country and how India is emerging as a "major power" globally.

Modi said his government was working to fulfil those aspirations which seemed impossible earlier, adding people's expectations go up from those who work. "People want more work from those who deliver. Their expectations go up from those who work," he said, drawing another round of laud applause.

PM Modi also highlighted India's Act East policy and the importance of the country's ties with 10-nation ASEAN grouping, besides referring to historical linkages between India and Thailand. The prime minister, on a three-day visit here, will address the annual ASEAN-India summit on Sunday. In his address, Modi also traced historical and cultural links between India and Thailand, saying the relationship has been of “heart and soul”.

Noting that Indo-Thai relationship reflects greater amalgamation of cultural bonds, he said his government has been focusing on enhancing the North Eastern region's connectivity with Thailand. "Once the India-Myanmar-Thailand trilateral highway is thrown open, there will be seamless connectivity between both our countries," Modi said.

"This is my first official visit to Thailand, and I can see a lot of Indianness in various aspects in this country—be it culture, food habits or social values...The entire world celebrated Diwali along with India, and I can see that it was the case here too," he said.

The Prime Minister also talked about the Thai royal family's ties with India and even said that Queen Maha Chakri Sirindhorn is a Sanskrit scholar with a deep connect with India. "The affinity and closeness the Thai royal family has for India reflected the strong historical relationship between the two countries,” he said.

In his speech, Modi also talked how the government is celebrating 550th birth anniversary of Guru Nanak, the founder of Sikhism, and said his teachings were a treasure for not only the Sikh community but for the whole world.

Modi also talked about the Kartarpur Corridor and said pilgrims will be able to visit Gurudwara Kartarpur Sahib in Pakistan once the corridor is thrown open next week. The much-awaited corridor will connect Darbar Sahib in Pakistan's Kartarpur - the final resting place Guru Nanak - with Dera Baba Nanak shrine in India's Gurdaspur district.

Talking about various reform initiatives undertaken by his government, Modi said Indians across the globe feel proud about the changes taking place in India in the last five years. “When India speaks, the whole world listens to it because 1.3 billion Indians are involved in building a new India. Because of the changes, people of India have given us bigger mandate in the Lok Sabha polls then earlier,” he said.

The Prime Minister also said India was among the fastest growing economies in the world and that the country is working hard to become a USD 5 trillion economy in next five years. Modi also said that his government decided that holders of the Overseas Citizens of India card can enrol for the new pension scheme, adding his government is also working hard to significantly improve visa consular services abroad.

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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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Agencies
May 18,2020

India is among 58 nations, including 27 European Union members, who have moved a draft resolution demanding evaluation of the World Health Organisation (WHO)'s response towards the novel coronavirus pandemic.

The European Union-led draft resolution on global COVID-19 response is set to be tabled at the upcoming World Health Assembly on Monday.

The draft resolution demands initiation "at the earliest appropriate moment to review experience gained and lessons learned from the WHO-coordinated international health response to COVID-19".

"We are deeply concerned by the morbidity and mortality caused by COVID-19 pandemic, the negative impacts on physical and mental health and social well-being, the negative impacts on economy and society and the consequent exacerbation of inequalities within and between countries," read the draft.

"We express solidarity to all countries affected by the pandemic, as well as condolences and sympathy to all the families of the victims of COVID-19," it added.

The resolution says timelines are to be evaluated regarding "recommendations the WHO made to improve global pandemic prevention, preparedness, and response capacity".

The WHO on January 23 declare a global health emergency, but did not declare it and waited for a week for its director-general Tedros Adhanom Ghebreyesus to return from China.

By that time, COVID-19 cases increased 10 times and the virus entered 18 countries.

According to Health Policy Watch, till as late as February, the WHO did not support countries for imposing travel restrictions to China.

"When countries began evacuating their citizens from Wuhan, the COVID-19 epicentre, the WHO said it did not favour this step".

The WHO finally declared it a pandemic on March 11.

The global health body has come under criticism not just from the US for its response being "China-centric".

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News Network
May 9,2020

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

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