Obama refuses to meet Zardari in Chicago

May 22, 2012

obama_refuses

Washington, May 22: In a rebuff to Pakistan president Asif Ali Zardari, US president Barack Obama did not meet him on the margins of the NATO Summit in Chicago as the two countries failed to strike a deal on reopening the NATO supply lines to Afghanistan.

Zardari, who flew to Chicago with hopes of lifting his stature with a meeting with Obama, was preparing to leave empty-handed as the two countries continued to feel the repercussions of a NATO air strike last November that killed 24 Pakistani soldiers, an incident for which the US President has offered condolences but no apology.

As the two-day NATO summit opened in Chicago last evening, Obama remained at loggerheads with Zardari, refusing even to meet him without a deal on the supply routes, which officials in both sides acknowledged would not be coming soon, US media reported on Monday.


But White House deputy national security advisor Ben Rhodes said that Obama could not meet Zardari as he had a "full slate of summit meetings to attend."


"The two bilateral meetings, really, that he did, or President (Hamid) Karzai for obvious reasons given the focus on Afghanistan here, and the Secretary General of NATO given that it's traditional for the host to make sure that we're aligned with the secretary general heading into the summit.


"But we don't anticipate any other bilateral meetings so we didn't draw that linkage. We're going to continue to work through the issue with the Pakistanis," he said.


However, a deal to reopen the supply lines fell apart as Obama began talks on ending the NATO alliance's combat role in Afghanistan in 2013, The New York Times said. The failure to strike a deal ahead of the summit injects new tension into the relationship, it said.



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News Network
May 24,2020

Beijing, May 24: The Chinese virology institute in the city where COVID-19 first emerged has three live strains of bat coronavirus on-site, but none match the new contagion wreaking chaos across the world, its director has said.

Scientists think COVID-19 -- which first emerged in Wuhan and has killed some 340,000 people worldwide -- originated in bats and could have been transmitted to people via another mammal.

But the director of the Wuhan Institute of Virology told state broadcaster CGTN that claims made by US President Donald Trump and others that the virus could have leaked from the facility were "pure fabrication".

"Now we have three strains of live viruses... But their highest similarity to SARS-CoV-2 only reaches 79.8 percent," she said, referring to the coronavirus strain that causes COVID-19.

US demands immediate start to WHO review

The United States called on the World Health Organisation on Friday to begin working immediately on investigating the source of the novel coronavirus, as well as its handling of the response to the pandemic.

One of their research teams, led by Professor Shi Zhengli, has been researching bat coronaviruses since 2004 and focused on the "source tracing of SARS", the strain behind another virus outbreak nearly two decades ago.

"We know that the whole genome of SARS-CoV-2 is only 80 percent similar to that of SARS. It's an obvious difference," she said.

"So, in Professor Shi's past research, they didn't pay attention to such viruses which are less similar to the SARS virus."

Conspiracy rumours that the biosafety lab was involved in the outbreak swirled online for months before Trump and US Secretary of State Mike Pompeo brought the theory into the mainstream by claiming that there is evidence the pathogen came from the institute.

The lab has said it received samples of the then-unknown virus on December 30, determined the viral genome sequence on January 2 and submitted information on the pathogen to the WHO on January 11.

Wang said in the interview that before it received samples in December, their team had never "encountered, researched or kept the virus."

"In fact, like everyone else, we didn't even know the virus existed," she said. "How could it have leaked from our lab when we never had it?"

The World Health Organization said Washington had offered no evidence to support the "speculative" claims.

In an interview with Scientific American, Shi said the SARS-CoV-2 genome sequence did not match any of the bat coronaviruses her laboratory had previously collected and studied.

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News Network
June 11,2020

Beijing, Jun 11: Floods and mudslides in south China have uprooted hundreds of thousands of people and left dozens dead or missing, state media reported Thursday.

The bad weather has wreaked havoc on popular tourist areas that had already been battered by months of travel restrictions during the coronavirus outbreak.

Torrential downpours unleashed floods and mudslides that caused nearly 230,000 people to be relocated and destroyed more than 1,300 houses, official state news agency Xinhua reported, citing the Ministry of Emergency Management.

In southern Guangxi Zhuang Autonomous Region, six people were reported dead and one missing, Xinhua said.

Streets were waterlogged in popular tourist destination Yangshuo, forcing residents and visitors to evacuate on bamboo rafts.

The local government said more than 1,000 hotels had been flooded and more than 30 tourist sites damaged.

One owner of a family-run hotel told Xinhua that the guest rooms were submerged in one metre (three feet) of rainwater.

The extreme weather has dealt a hefty blow to the region's tourism sector, which is still reeling from the COVID-19 epidemic.

The emergency management ministry said there were direct economic losses of over 4 billion yuan (more than $550 million) from the flooding, Xinhua reported.

In Hunan Province, at least 13 people were killed in rain-triggered disasters, and another eight people are missing or killed in southwestern Guizhou province, according to the local emergency response departments, Xinhua said.

The heavy downpours began at the beginning of June and have led to "dangerously high water levels" in 110 rivers, Xinhua reported.

Further rainstorms are expected in the next few days across the south.

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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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