Xi Jinping secures 2nd term as head of China's ruling Communist Party

The Hague, Jun 22: Finding inner peace is crucial for the armed forces and yoga is a beautiful way to find the balance, Dutch Defence Minister Ank Bijleveld has said, thanking India for the "wonderful gift" to the world.

Yoga has been gaining global popularity in recent years for the many benefits it has on one's physiology, psychology and spirituality.

Bijleveld participated in the online International Yoga Day celebrations organised by the Indian Embassy here on Sunday.

"The minister thanked India for the wonderful gift of yoga to the world," a statement issued by the embassy said on Monday.

She said finding inner peace is crucial for a man and woman in uniform and yoga is a beautiful way to find the balance, it noted.

Bijleveld said yoga has formed a part of the training for the Dutch armed forces for the last 15 years and there are 130 yoga instructors.

The representatives of the Dutch Army joined by the Dutch Police personnel demonstrated their yoga skills as part of the online celebrations, the statement said.

The sixth International Yoga Day celebrations was streamed to 145,000 followers of the embassy's Facebook, Twitter, Instagram and YouTube channels as well as on its website. It was also streamed on the website of the non-profit foundation Stichting International Yoga Day.

Ambassador of India to The Netherlands Venu Rajamony inaugurated the celebrations. This was followed by Prime Minister Narendra Modi's video message and 3D animated videos of yoga with him.

The event was participated by a host of prominent Dutch and Indian personalities, including Ambassadors of various countries based in The Hague.

Dutch actress Afke Reijenga, extreme sportsman Wim Hof -- popularly known as 'The Iceman' and singers Charlie Dee and Anouk Maas were amongst the Dutch celebrities who participated in the event, the statement said.

Messages and artistic contributions by spiritual leader Sri Sri Ravi Shankar, internationally acclaimed flautist Pandit Hariprasad Chaurasia, violin maestro L Subramaniam, playback singers Kavita Krishnamurthy and Vijay Prakash, chess grandmaster Viswanathan Anand and film stars Raadhika, Sarathkumar and Bhumika Chawla featured in the programme.

Cricketer Suresh Raina, tennis stars Ramesh Krishnan and Rohan Bopanna, yoga guru and artist Bharat Thakur, Olympic ice skater Vishwaraj Jadeja and Michelin star chef Vikas Khanna also featured in the event.

The programme included a Kathak recital on 'Ayush' choreographed by Dutch choreographer Leo Spreksel and performed by eminent Kathak dancers Hari and Chetna with Sirisha.

It also showcased Hollywood and Bollywood celebrities who have made yoga a part of their lives.

Washington D.C, Jul 8:  US Secretary of State, Mike Pompeo on Tuesday (local time) announced visa restrictions on some Chinese officials under the Reciprocal Access to Tibet Act, 2018.

"Today I am announcing visa restrictions on PRC government and Chinese Communist Party officials determined to be "substantially involved in the formulation or execution of policies related to access for foreigners to Tibetan areas," pursuant to the Reciprocal Access to Tibet Act of 2018," Pompeo said.

"Access to Tibetan areas is increasingly vital to regional stability, given the PRC's human rights abuses there, as well as Beijing's failure to prevent environmental degradation near the headwaters of Asia's major rivers," he said.

The US Secretary of State pointed out that Beijing has continued "systematically to obstruct travel to the Tibetan Autonomous Region (TAR) and other Tibetan areas" by U.S. diplomats and other officials, journalists, and tourists, while PRC officials and other citizens enjoy far greater access to the United States.

"The United States will continue to work to advance the sustainable economic development, environmental conservation, and humanitarian conditions of Tibetan communities within the People's Republic of China and abroad," he said.

Pompeo said US also remains "committed to supporting meaningful autonomy for Tibetans, respect for their fundamental and unalienable human rights, and the preservation of their unique religious, cultural, and linguistic identity".

"In the spirit of true reciprocity, we will work closely with the U.S. Congress to ensure U.S. citizens have full access to all areas of the People's Republic of China, including the TAR and other Tibetan areas," he said.

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.