Ahead of visit, Mike Pompeo calls ties with India 'incredibly important'

Agencies
June 11, 2019

Washington, Jun 11: US Secretary of State Mike Pompeo has said that his visit to New Delhi this month will be focused on advancing the "incredibly important" ties with India which is a significant part of President Donald Trump's strategy in the strategic Indo-Pacific region.  Pompeo would leave for New Delhi on June 24.

New Delhi would be Pompeo's first stop and South Korea his last during the nearly week-long visit to the Indo-Pacific region, beginning June 24, that would also take him to Sri Lanka and Japan.

Before starting his trip, Pompeo will address the India Ideas Summit of US-India Business Council on June 12.

"I'll be speaking to a group of Indian business leaders in preparation for the trip that I'll take in a couple of weeks where I'll be visiting India, an important part of President Trump's strategy in the Indo-Pacific," he told reporters at the Foggy Bottom headquarters of the US State Department on Monday.

"I'm looking forward to the opportunity both to give the set of remarks about how it is our relationship is so closely tied economically, but also importantly the things that the United States and India can continue to do to build out what is an incredibly important relationship for both countries," Pompeo said.

State Department spokesperson Morgan Ortagus told reporters that Pompeo will travel to the Indo-Pacific region on June 24 through June 30 to broaden and deepen America's partnership with key countries to advance their shared goal of a free and open Indo-Pacific.

"The secretary's first stop will be in New Delhi, India. Prime Minister (Narendra) Modi's recent election victory provides an excellent opportunity for him to implement his vision for a strong and prosperous India that plays a leading role on the global stage," she said.

India, the US and several other world powers have been talking about the need to ensure a free, open and thriving Indo-Pacific in the backdrop of China's rising military manoeuvring in the region.

China has been trying to expand its military presence in the Indo-Pacific, which is a biogeographic region, comprising the Indian Ocean and the western and central Pacific Ocean, including the South China Sea.

China claims almost all of the South China Sea. Vietnam, the Philippines, Malaysia, Brunei and Taiwan have counterclaims over the sea.

Prime Minister Modi during his recent visit to the Maldives underscored India's firm commitment to make the strategic Indo-Pacific an area for shared economic growth, saying it has been "our lifeline, and also the highway for trade and prosperity."

Pompeo will preview elements of a cooperative agenda during his remarks at the India Ideas Summit at the US Chamber of Commerce, she said.

His next stop will be in Colombo, where Pompeo will express America's solidarity with the people of Sri Lanka as they stand united against the despicable Easter Sunday terrorist attacks. He will also discuss promising opportunities for US-Sri Lanka cooperation based on shared commitments to a free and open Indo-Pacific region, she added.

Pompeo will then travel to Osaka, Japan, to participate in the G20 Leaders' Summit from June 28 -29, the first such gathering hosted by Japan.

On the margins of the summit, Pompeo will join Trump in meeting with Japanese Prime Minister Shinzo Abe to coordinate "on the final, fully verified denuclearization of North Korea", and discuss ways to strengthen trilateral cooperation with South Korea on "our unified approach towards North Korea" and other shared challenges, she said.

Following the G20 Summit, Pompeo will accompany Trump to South Korea to meet with President Moon Jae-in.

"The two leaders will also discuss ways to strengthen the United States-Republic of Korea alliance. President Trump and President Moon will continue their close coordination on efforts to achieve the final, fully verified denuclearization of the Democratic People's Republic of Korea," Ortagus said.

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News Network
June 15,2020

Jun 15: Oil prices fell on Monday, with U.S. oil dropping more than 2%, as a spike in new coronavirus cases in the United States raised concerns over a second wave of the virus which would weigh on the pace of fuel demand recovery.

Brent crude futures fell 66 cents, or 1.7%, at $38.07 a barrel as of 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 81 cents, or 2.2%, to $35.45 a barrel.

Both benchmarks ended down about 8% last week, their first weekly declines since April, hit by the U.S. coronavirus concerns: More than 25,000 new cases were reported on Saturday alone as more states, including Florida and Texas, reported record new infection highs.

"Concerns about the recent uptick in COVID-19 infections in the U.S. and a potential 'second wave' are weighing on oil at the moment," said Stephen Innes, chief global market strategist at AxiCorp.

Meanwhile, an OPEC-led monitoring panel will meet on Thursday to discuss ongoing record production cuts to see whether countries have delivered their share of the reductions, but will not make any decision, according to five OPEC+ sources.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been reducing supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July.

Iraq, one of the laggards in complying with the curbs, agreed with its major oil companies to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

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News Network
July 1,2020

Washington, Jul 1: The United States has approved four coronavirus vaccine candidates for clinical trials, Food and Drug Administration (FDA) head Stephen Hahn told reporters.

"Four vaccines have been approved for moving into clinical trials... and another six are in the pipeline for us to review," Hahn said during a press briefing on Tuesday.

The US Administration launched in May Operation Warp Speed, a joint project of Health and Defense Departments, which aims to deliver 300 million doses of a vaccine for COVID-19 by January 2021.

The country's top pandemics expert Anthony Fauci warned on Tuesday, however, that there is no certainty the United States will be able to develop a vaccine against COVID-19 that works and will be safe.

Data on vaccine effectiveness, he added, may be available in the winter or early next year.

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News Network
March 2,2020

Paris, Mar 2: A global agency says the spreading new virus could make the world economy shrink this quarter, for the first time since the international financial crisis more than a decade ago.

The Organization for Economic Cooperation and Development says Monday in a special report on the impact of the virus that the world economy is still expected to grow overall this year and rebound next year.

But it lowered its forecasts for global growth in 2020 by half a percentage point, to 2.4 per cent, and said the figure could go as low as 1.5 per cent if the virus lasts long and spreads widely.

The last time world GDP shrank on a quarter-on-quarter basis was at the end of 2008, during the depths of the financial crisis. On a full-year basis, it last shrank in 2009.

The OECD said China's reduced production is hitting Asia particularly hard but also companies around the world that depend on its goods.

It urged governments to act fast to prevent contagion and restore consumer confidence.

The Paris-based OECD, which advises developed economies on policy, said the impact of this virus is much higher than past outbreaks because "the global economy has become substantially more interconnected, and China plays a far greater role in global output, trade, tourism and commodity markets."

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