World rallies against terror; Leaders join hands in epic Paris march

January 12, 2015

World rallies terror

Paris, Jan 12: World leaders, including some who are normally implacable foes, on Sunday linked arms — leading more than a million French citizens — in unprecedented scenes of solidarity during a historic march against terrorism in Paris.

Walking arm in arm alongside President Francois Hollande were a string of leaders including British Prime Minister David Cameron and German Chancellor Angela Merkel. They were joined on the front line by arch nemeses Israeli leader Benjamin Netanyahu and Palestinian President Mahmud Abbas, who were positioned just four people apart.

Also present were Ukrainian President Petro Poroshenko and Russian Foreign Minister Sergei Lavrov, whose countries are engaged in a violent struggle in Ukraine.

“Paris is the capital of the world today,” said Hollande before the march, which attracted hundreds of thousands to the streets of Paris and many more across the rest of France and Europe.

Before he set off for the march, Britain's David Cameron said: “We in Britain face a very similar threat, a threat of fanatical extremism.

“It's a threat that has been with us for many years and I believe will be with us for many more years to come,” he said.

Some 2,200 police and soldiers patrolled Paris streets to protect marchers from potential threats, with police snipers on rooftops and plain-clothes detectives mingling with the crowd.

City sewers were searched ahead of the vigil and underground train stations around the march route were closed down.

Seventeen people, including journalists and police, were killed in three days of violence that began with a shooting attack on the weekly Charlie Hebdo known for its satirical attacks on Islam and other religions as well as politicians.

It ended on Friday with a hostage-taking at a Jewish deli in which four hostages and the gunman were killed.

The silent march — which may prove the largest seen in modern times through Paris — reflected shock over the worst militant Islamist assault on a European city in nine years. For France, it raised questions of free speech, religion and security, and beyond French frontiers it exposed the vulnerability of states to urban attacks.

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News Network
February 24,2020

Kuala Lumpur, Feb 24: Malaysian Prime Minister Mahathir Mohamad has submitted his resignation to the king, two sources with direct knowledge of the matter told Reuters on Monday, amid talks of forming a new coalition to govern the country.

Mahathir, 94, assumed office in May 2018 for his second stint as prime minister.

A spokesman from the prime minister's office declined to comment, saying only that a statement will be issued soon.

The sources declined to be named as they were not authorised to talk to the media.

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News Network
June 3,2020

Washington, Jun 3: US President Donald Trump's administration on Tuesday announced investigations into foreign digital services taxes it says are aimed squarely at American tech firms.

Following a similar trade investigation against France last year, the US Trade Representative office now is looking into taxes in Britain and the European Union, as well as Indonesia, Turkey and India.

"President Trump is concerned that many of our trading partners are adopting tax schemes designed to unfairly target our companies," USTR Robert Lighthizer said in a statement.

"We are prepared to take all appropriate action to defend our businesses and workers against any such discrimination."

Washington opposes the efforts to tax revenues from online sales and advertising, saying they single out US tech giants like Google, Apple, Facebook, Amazon and Netflix.

The US and France have agreed to negotiate till the end of the year over a digital services tax Paris approved in 2019, after USTR found them to be discriminating and threatened retaliatory duties of up to 100 percent on French imports such as champagne and camembert cheese.

Trump has embroiled the US in numerous trade disputes since taking office in 2017, including a months-long trade war with China that cooled with the signing of a partial deal in January.

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News Network
April 13,2020

Manila, Apr 13: The Asian Development Bank (ADB) on Monday tripled the size of its response to novel coronavirus disease (COVID-19) pandemic to 20 billion dollars and approved measures to streamline its operations for quicker and more flexible delivery of assistance.

The package expands ADB's 6.5 billion dollars initial response announced on March 18, adding 13.5 billion dollars in resources to help ADB's developing member countries counter the severe macroeconomic and health impacts caused by COVID-19.

The 20 billion dollar package includes about 2.5 billion dollars in concessional and grant resources.

"This pandemic threatens to severely set back economic, social, and development gains in Asia and the Pacific, reverse progress on poverty reduction and throw economies into recession," said ADB President Masatsugu Asakawa.

"Our expanded and comprehensive package of assistance, made possible with the strong support of our board, will be delivered more quickly, flexibly and forcefully to the governments and the private sector in our developing member countries to help them address the urgent challenges in tackling the pandemic and economic downturn," he said in a statement.

ADB's most recent assessment released on April 3 estimates the global impact of the pandemic at between 2.3 and 4.8 per cent of gross domestic product. Regional growth is forecast to decline from 5.2 per cent last year to 2.2 per cent in 2020.

The new package includes the establishment of a COVID-19 pandemic response option under ADB's countercyclical support facility.

Up to 13 billion dollars will be provided through this new option to help governments of developing member countries implement effective countercyclical expenditure programs to mitigate impacts of the COVID-19 pandemic, with a particular focus on the poor and the vulnerable.

Grant resources will continue to be deployed quickly for providing medical and personal protective equipment and supplies from expanded procurement sources.

Some 2 billion dollars from the 20 billion dollar package will be made available for the private sector. Loans and guarantees will be provided to financial institutions to rejuvenate trade and supply chains.

Enhanced microfinance loan and guarantee support and a facility to help liquidity-starved small and medium-sized enterprises, including those run by female entrepreneurs, will be implemented alongside direct financing of companies responding to or impacted by COVID-19.

The response package includes a number of adjustments to policies and business processes that will allow ADB to respond more rapidly and flexibly to the crisis. These include measures to streamline internal business processes, widen the eligibility and scope of various support facilities and make the terms and conditions of lending more tailored.

All support under the expanded package will be provided in close collaboration with international organisations, including the International Monetary Fund, World Bank Group, World Health Organisation, UNICEF, other UN agencies and the broader global community.

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