White House invites Modi to visit U.S.

May 17, 2014

Washington, May 17: U.S. President Barack Obama effectively reversed a nine-year U.S. visa ban when he congratulated Gujarat Chief Minister Narendra Modi on his party's “historic” victory in the Indian general election, and then invited Mr. Modi to visit the U.S. at a “mutually agreeable time to further strengthen our bilateral relationship.”

White_House_invites_ModiAdditionally, the White House said on Friday, “We look forward to working with [the new Indian government] once formed to advance our partnership.”

U.S. Secretary of State John Kerry chose micro-blogging site Twitter to say to Mr. Modi, “Congrats to @narendramodi and BJP. Look forward to working w/you/growing shared prosperity/security w/world's largest democracy.”

The State Department elaborated on Mr. Kerry's statement saying that it congratulated Mr. Modi and the BJP on its victory in winning a majority of seats in India's historic national election, “which saw more voters cast their ballots freely and fairly than in any election in human history.”

State Department officials said that they understood that the next steps were for the Indian Election Commission to officially inform the President of the certified election results, and for him to appoint a Prime Minister.

The U.S. has, since 2005, denied Mr. Modi an entry visa on the grounds that he has been linked to curtailments of religious freedom in the context of the 2002 Gujarat riots.

However, on Friday, the White House Press Secretary Jay Carney said during a media briefing “The Prime Minister of India will be welcomed to the U.S.,” and added that once the government was formed, the U.S. looked forward to working “closely with the Prime Minister and the Cabinet to advance our strong, bilateral relationship based on shared democratic values.”

The State Department echoed the White House view that “The Prime Minister of India will be welcomed to the U.S. [and] as Head of Government, Mr. Modi would be eligible for an A-1 visa.”

Some groups in the U.S. drew attention to the visa and Gujarat riots issue on Friday, and the Coalition Against Genocide (CAG), an umbrella group focusing on justice and accountability for the pogrom said that it “pledged to continue its struggle with renewed fervour in the wake of the election results in India.”

CAG Spokesperson Raja Swamy underscored Mr. Modi's alleged links to the RSS cautioning that “During this election campaign, RSS leaders have been openly raking up contentious issues, posing a threat to communal harmony and increasing the prospect of violence against minorities.”

Reactions to the BJP's stronger-than-anticipated victory in the elections were nevertheless broadly positive.

New York Democratic Congressman and Co-Chair of the Congressional Caucus on India and Indian-Americans, said, in a statement “From Kerala to Jaipur, from Mumbai to Kolkata, the power of democracy was on display throughout the country. I applaud India's commitment to the democratic process and wish the Indian people and government the very best.”

Sanjay Puri, Chairman of the U.S. India Political Action Committee similarly said, “On behalf of the Indian-American community and friends of India in the U.S., USINPAC extends its warm congratulations to Narendra Modi for leading the BJP to a spectacular victory in these historic elections in India.”

Emphasising that Indian-Americans were “heartened to note that the BJP will have single party majority in the Parliament,” he added, “The Indian Diasporas and friends of India in the U.S. … cheer and send our best of wishes to the people of India, and the leadership of Mr. Modi.”

The Confederation of Indian Industry, which has spearheaded numerous efforts to boost India's profile as an investor in the U.S. economy and a destination for U.S. investments, welcomed the election results with an eye on the prospects for accelerating future economic growth.

Chandrajit Banerjee, CII Director-General, said, “With a decisive mandate, the new government could take the tough decisions that are urgently needed to revive economic growth. The first priority is to get the cleared projects operational. This is the quickest way to revive investment demand.”

He also urged the new government, once formed, to sharpen the focus on “issues arising out of the land acquisition act and the new companies act,” and passing a “strong reform package… to generate the 150 million new jobs that India needs over the next ten years.”

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Agencies
July 7,2020

Washington DC, Jul 7: With US President Donald Trump promoting re-opening the economy, the country has now four epicentres of coronavirus instead of one -- Los Angeles, cities in Texas, cities in Florida and Arizona. This has led to the governors fearing that their hospitals could be overrun with patients.

"We are right back where we were at the peak of the epidemic during the New York outbreak...The difference now is that we really had one epicentre of spread when New York was going through its hardship. Now, we really have four major epicentres of spread -- Los Angeles, cities in Texas, cities in Florida and Arizona. Florida looks to be in the worst shape," Scott Gottlieb, former Food and Drug Administration commissioner was quoted by The Washington Post as saying in an interview.

As per the latest data, Florida, New York and California have crossed the 200,000 mark of coronavirus cases.

After Texas continued to break its own record of registering the highest number of coronavirus cases, Austin Mayor Steve Adler (D) was quoted as saying in an interview, "If we do not change this trajectory, then I am within two weeks of having our hospitals overrun."

He further said that intensive care units in the city will start overflowing within 10 days.

Echoing similar sentiments, Judge Lina Hidalgo, the top elected official in Harris County, said, "As long as we're doing as little as possible and hoping for the best, we are always going to be chasing this thing. We are always going to be behind and the virus will always outrun us...And so what we need right now is to do what works, which is a stay-home order."

She was stripped of authority to issue stay-at-home orders after Governor Greg Abbott decided to move forward with the reopening plan.

"It is clear that the (coronavirus) growth is exponential at this point...We have been breaking record after record after record... the last couple of weeks," Miami Mayor Francis Suarez was quoted as saying in an interview.

"The city of Miami was the last city in the entire state of Florida to open. I was criticized for waiting so long. But there is no doubt that the fact that when we reopened, people started socialising as if... the virus didn't exist."

He further said that if the numbers do not begin to fall "more drastic measures" will be taken in the coming week.

As per the latest update by the Johns Hopkins University, a total of 2,938,625 people in the US have tested coronavirus positive and 130,306 deaths have been reported so far.

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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 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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