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
June 7,2020

Moscow, Jun 7: OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis. Those cuts were due to taper to 7.7 million bpd from July to December.

“Demand is returning as big oil-consuming economies emerge from pandemic lockdown. But we are not out of the woods yet and challenges ahead remain,” Saudi Energy Minister Prince Abdulaziz bin Salman told the video conference of OPEC+ ministers.

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.

“Prices can be expected to be strong from Monday, keeping their $40 plus levels,” said Bjornar Tonhaugen from Rystad Energy.

Saudi Arabia, OPEC’s de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above $50 a barrel to avoid encouraging a resurgence of rival U.S. shale production.

It was not immediately clear whether Saudi Arabia, the United Arab Emirates and Kuwait would extend beyond June their additional, voluntary cuts of 1.18 million bpd, which are not part of the deal.

BULGING INVENTORIES

The April deal was agreed under pressure from U.S. President Donald Trump, who wants to avoid U.S. oil industry bankruptcies.

Trump, who previously threatened to pull U.S. troops out of Saudi Arabia if Riyadh did not act, spoke to the Russian and Saudi leaders before Saturday’s talks, saying he was happy with the price recovery.

While oil prices have partially recovered, they are still well below the costs of most U.S. shale producers. Shutdowns, layoffs and cost cutting continue across the United States.

“I applaud OPEC-plus for reaching an important agreement today which comes at a pivotal time as oil demand continues to recover and economies reopen around the world,” U.S. Energy Secretary Dan Brouillette wrote on Twitter after the extension.

As global lockdowns ease, oil demand is expected to exceed supply sometime in July but OPEC has yet to clear 1 billion barrels of excess oil inventories accumulated since March.

Rystad’s Tonhaugen said Saturday’s decisions would help OPEC reduce inventories at a rate of 3 million to 4 million bpd in July-August. “The quicker stocks fall, the higher prices will get,” he said.

Nigeria’s petroleum ministry said Abuja backed the idea of compensating for its excessive output in May and June.

Iraq, with one of the worst compliance rates in May, agreed to extra cuts although it was not clear how Baghdad would reach agreement with oil majors on curbing Iraqi output.

Iraq produced 520,000 bpd above its quota in May, while overproduction by Nigeria was 120,000 bpd, Angola’s was 130,000 bpd, Kazakhstan’s was 180,000 bpd and Russia’s was 100,000 bpd, OPEC+ data showed.

OPEC+’s joint ministerial monitoring committee, known as the JMMC, will meet monthly until December to review the market, compliance and recommend levels of cuts. JMMC’s next meeting is scheduled for June 18.

OPEC and OPEC+ will hold their next scheduled meetings on Nov. 30-Dec. 1.

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Agencies
March 28,2020

Canadian researchers are developing a DNA vaccine for SARS-CoV-2, the coronavirus that causes COVID-19 and has currently infected nearly 5,00,000 people worldwide and crippled the global economy.

Entos Pharmaceuticals, a health-care biotechnology company headed by a University of Alberta researchers, develop new therapeutic compounds using the company's proprietary drug-delivery platform and has begun manufacturing vaccine candidates against the novel coronavirus.

"Given the urgency of the situation, we can have a lead candidate vaccine within two months. Once we have that it's a race to get it into clinical trials," said John Lewis, CEO of Entos and a Professor at the University of Alberta in Canada.

Lewis said in comparison to a traditional vaccine, DNA-based vaccines hold several advantages.

Nucleic acids are introduced directly into the patient's own cells, causing them to make pieces of the virus--tricking the immune system into mounting a response without the full virus actually being present, the researcher said.

According to the company, the approach is recognised as being easier to move into large-scale manufacturing, offers improved vaccine stability and works without needing an infectious agent.

In the current absence of a vaccine for COVID-19, several companies around the world are mounting efforts to begin similar work.

The first clinical trial using a DNA-based vaccine developed by Moderna Inc.in the US on March 13.

Their approach allows for antibodies to be made in the human trial volunteers against a specific protein on the surface of the coronavirus that lets the virus enter human cells.

The hope is that the antibodies will stop the interaction.

Though this approach is designed to be effective against COVID-19 specifically, Lewis said Entos is taking a different tack.

The company plans to use plasmid DNA to amplify the production of key coronavirus surface and structural proteins with each injection, with an eye to the bigger picture.

"Many of the structural proteins in the virus are pretty well conserved across all the coronaviruses, including SARS and MERS," said Lewis.

"We're hoping that if we express more of the structural proteins that are common to most coronaviruses, we can inhibit the current COVID-19, and also potentially protect against all coronaviruses both past and future," Lewis added.

To move the project forward quickly, the company is seeking financial support from both provincial and federal levels of government.

"We have the opportunity to save a lot of lives, and I think it's really upon us and governments to find solutions for that," Lewis said.

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Agencies
August 7,2020

Colombo, Aug 7: Sri Lankan President Gotabaya Rajapaksa's party and its allies won an overwhelming two-thirds majority in a parliament election, results showed on Friday, giving him the power to enact sweeping changes to the constitution.

The governing Sri Lanka Podujana Peramuna and its allies had won 150 seats in the 225-member parliament, according to the tally published by the election commission from Wednesday's vote.

Rajapaksa had sought a two-thirds majority in parliament to be able to restore full executive powers to the presidency, which he says are necessary to implement his agenda to make the tiny island economically and militarily secure.

He is likely to install his older brother and former President Mahinda Rajapaksa as the next prime minister. The brothers are best known for crushing the Tamil Tiger rebels fighting for a separate homeland for minority Tamils during the elder Rajapaksa's presidency in 2009.

On a congratulatory phone call from Prime Minister Narendra Modi of India, which is keen to check Chinese influence on its southern neighbour, Mahinda Rajapaksa vowed to deepen ties between the two countries.

"With the strong support of the people of Sri Lanka, I look forward to working with you closely to further enhance the long-standing cooperation between our two countries," he told Modi. "Sri Lanka and India are friends and relations."

The tourism-dependent nation of 21 million people has been struggling economically since deadly Islamist militant attacks on hotels and churches last year followed by lockdowns to slow the spread of the coronavirus. 

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