My ties with Bin Laden started in Jeddah: Adel Batterjee

Vienna, Apr 13: Top oil-producing countries agreed on "historic" output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday.

The US benchmark WTI climbed 7.7 percent to $24.52 a barrel in early Asian trade while Brent was up 5.0 percent at $33.08.

OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal via videoconference Sunday after Mexico had balked at an earlier agreement struck on Friday.

In the compromise reached Sunday they agreed to a cut of 9.7 million barrels per day from May, according to Mexican Energy Minister Rocio Nahle, down slightly from 10 million barrels a day envisioned earlier.

OPEC Secretary General Mohammad Barkindo called the cuts "historic".

"They are largest in volume and the longest in duration, as they are planned to last for two years," he said.

The agreement between the Vienna-based Organization of the Petroleum Exporting Countries and partners foresees deep output cuts in May and June followed by a gradual reduction in cuts until April 2022.

Barkindo added that the deal "paved the way for a global alliance with the participation of the G20".

Saudi Energy Minister Prince Abdulaziz bin Salman, who chaired the meeting together with his Russian and Algerian counterparts, also confirmed that the discussions "ended with consensus".

Washington, Apr 28: US President while addressing a news conference on coronavirus pandemic said his administration has launched "very serious investigations" into China's response to the novel coronavirus.

"And we are not happy with China, we are not happy with that whole situation, because we believe it could have been stopped at the source," he said. "It could have been stopped quickly and it wouldn't have spread all over the world," the BBC reported.

Trump has been critical of China as the pandemic has progressed and has frequently touted his decision to close the US borders to China in an effort to curb the outbreak. Some health experts have said the effort bought time for the US to prepare, but the Trump administration has been accused of squandering the opportunity.

"Nobody except one country can be held accountable for what happened," Trump said.

"Nobody's blaming anybody here, we're looking at a group of people that should've stopped it at the source."

The US will never forget those who were "sacrificed for a reason of incompetence or something else other than incompetence," he added.

"They" - referring to China - "could've protected the whole world - not just us - the whole world," he said.

At the starting of the conference Trump said COVID-19 cases are declining or stablising across the country.

"In all cases getting better," he said. "Really a horrible situation that we've been confronted with, but they're moving along."

He added there's a "hunger" to get back to work.

"Ensuring the health of our economy is vital to ensuring the health of our nation - these goals work in tandem."

The president has suggested an unnamed individual "a long time ago" could have stopped the "unnecessary death[s]" due to COVID-19.

"There has been so much unnecessary death in this country," he said.

"It could've been stopped and it could've been stopped short, but somebody a long time ago, it seems, decided not to do it that way and the whole world is suffering because of it."

He did not say who he was referencing and gave no other details.

Trump was asked if he has considered delaying the November presidential election.

"I never even thought of changing the date of the election," he answered. "Why would I do that? November 3rd. That's a good number."

Trump called the suggestion "made up propaganda" and said that "sleepy Joe" Biden - his presumptive Democratic rival - was likely unaware his campaign had put the statement out.

Former Vice-President Joe Biden said at a virtual fundraiser last week that he thought Trump would "try to kick back the election somehow".

The president has frequently levelled insults at his Democratic opponent by questioning the former vice-president's mental fortitude.

"I look forward to that election," Trump said.

The president responded to a question criticising Health Secretary Alex Azar's early downplaying of the disease by saying it was "unfair". He claimed Democrats did the same, including Speaker of the House of Representatives Nancy Pelosi.

"I was very fortunate through luck or whatever that we closed the border, we put a ban on China," he said.

"But I could tell you that Nancy Pelosi was dancing in the streets in Chinatown. She wanted to go, let's go out and party. That was late in February."

Back in February, Pelosi had encouraged people to visit San Francisco's Chinatown to help struggling businesses. She did not propose any parties, as the president suggested.

The city issued a stay-at-home order in March.

A reporter asked: If an American president loses more Americans over the course of six weeks than died during the entirety of the Vietnam war, does he deserve to be reelected?

Trump took the question in stride.

"So, yeah, we've lost a lot of people but if you look at what original projections were, 2.2 million, we're probably heading to 60,000 - 70,000," he said.

"It's far too many - one person is too many for this. I think we've made a lot of really good decisions," he added. "The big decision was closing the border, doing the ban on people coming in from China."

He also brings up the "unbelievable" job his administration did with ventilators.

"I think we've done a great job. And I will say this - one person is too many."

Washington, Feb 19: US President Donald Trump has said he is "saving the big deal" with India for later and he "does not know" if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.

"We can have a trade deal with India. But I'm really saving the big deal for later," he told reporters at Joint Base Andrews Tuesday afternoon (local time).

The US and India could sign a "trade package" during the visit, according to media reports.

Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India."

US Trade Representative Robert Lighthizer, the point-person for trade negotiations with India, is likely to not accompany Trump to India, sources said. However, officials have not ruled it out altogether.

In an apparent dissatisfaction over US-India trade ties, Trump said, "We're not treated very well by India." But he praised Prime Minister Narendra Modi and said he is looking forward to his visit to India.

"I happen to like Prime Minister Modi a lot," Trump said.

"He told me we'll have seven million people between the airport and the event. And the stadium, I understand, is sort of semi under construction, but it's going to be the largest stadium in the world. So it's going to be very exciting... I hope you all enjoy it," he told reporters.

Meanwhile, the US-India Strategic and Partnership Forum (USISPF) in a report said the latest quarterly data depict continuation of overall positive bilateral trade trends. The third quarter data reflects some downslide in growth rates.

"It may be due to several reasons, including the unexpected economic slowdown in India's economic growth, impact of US-China trade war, GSP withdrawal from the US side and retaliatory tariffs on specific US goods from the Indian side," USISPF said.

According to the report, the data available for the first three quarters of 2019 (January-September) pulled the overall growth rate in cumulative bilateral trade down to 4.5 percent from 8.4 percent registered for the first two quarters.

Goods and services trade performance in third quarter was dismal at -2.3 percent, in contrast with the impressive 9.6 percent growth witnessed for the first two quarters of the year; while trade in services was up two percent goods trade dropped five percent, the report said.

The cumulative US-India trade in goods and services (USD 110.9 billion) for the first three quarters of 2019 increased 4.5 percent with US exports and imports growing at four percent and five percent respectively.

The US exported USD 45.3 billion worth of goods and services to India in the first three quarters 2019, up 4 percent from the corresponding period in the previous year; and the US imported USD 65.6 billion worth of goods and services from India, up five percent from the previous year's USD 62.5 billion level for the same period, it said.

The USISPF has projected that the total bilateral trade can touch USD 238 billion by 2025 if the current 7.5 percent average annual rate of growth sustains; however, higher growth rates can result in bilateral trade in the range of USD 283 billion and USD 327 billion.

The US remains the top trading partner for India in terms of trade in goods and services, followed by China. While the bilateral trade between US and India is approximately 62 percent in goods and 38 percent in services, the bilateral trade between India and China is dominated by goods.

China had a huge trade surplus of USD 58 billion with India, indicating Beijing's strength in the Indian market, especially in sectors, such as electronics, machinery, organic chemicals, plastics and medical devices.

The US goods exports to India, in comparison, were mainly concentrated in mineral fuels, precious stones, and aircraft. The US faces tough competition with China in the Indian market in areas such as electronics, machinery, organic chemicals and medical devices.