Donald Trump says prepared to meet North Korea’s Kim Jong-un in first-ever summit

Agencies
March 9, 2018

Washington, Mar 9: President Donald Trump said on Thursday he was prepared to meet North Korean leader Kim Jong Un for the first US-North Korea summit, marking a potentially dramatic breakthrough in nuclear tensions with Pyongyang.

Kim has committed to “denuclearisation” and to suspending nuclear or missile tests, South Korea’s National Security Office head Chung Eui-yong told reporters at the White House after briefing Trump on South Korean officials’ meeting with Kim on Monday.

“A meeting is being planned,” Trump tweeted after speaking to Chung, who announced that Trump expressed a willingness to sit down with Kim in what would be his biggest foreign policy gamble since taking office.

Chung said Trump, in response to Kim’s invitation, had agreed to meet by May, and a senior US official later said it could happen “in a matter of a couple of months, with the exact timing and place still to be determined.”

Trump has previously said he was willing to meet Kim under the right circumstances but had indicated that the time was not right for such talks. He mocked US Secretary of State Rex Tillerson in October for “wasting his time” trying to talk to North Korea.

Earlier Thursday, Tillerson had said on a visit to Africa that although “talks about talks” might be possible with Pyongyang, denuclearization negotiations were likely a long way off.

“Kim Jong Un talked about denuclearisation with the South Korean Representatives, not just a freeze,” Trump said in a message on Twitter on Thursday night. “Also, no missile testing by North Korea during this period of time.”

Trump added: “Great progress being made but sanctions will remain until an agreement is reached.”

A meeting between Kim and Trump, who have exchanged bellicose insults in the past year that have raised fear of war, would be a major turnaround after a year in which North Korea has carried out a battery of tests aimed at developing a nuclear-tipped missile capable of hitting the US mainland.

“Kim pledged that North Korea will refrain from any further nuclear or missile tests,” Chung said, apparently referring to a suspension during the duration of any talks.

“He expressed his eagerness to meet President Trump as soon as possible,” he said.

Trump’s aides have been wary of North Korea’s diplomatic overtures because of its history of reneging on international commitments and the failure of efforts on disarmament by the administrations of President Bill Clinton, President George W. Bush and President Barack Obama.

Under Clinton in October 2000, then-US Secretary of State Madeleine Albright held talks in Pyongyang with then-North Korean leader Kim Jong Il, the father of Kim Jong Un.

US officials and experts, speaking to Reuters before Thursday’s announcement, had cautioned that North Korea could buy time to build up and refine its nuclear arsenal, including a warhead able to survive re-entry into the Earth’s atmosphere, if it manages to drag out any talks with Washington.

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Chung and National Intelligence Service chief Suh Hoon flew to Washington to explain North Korea’s stance on possible future talks with Washington and the prospect of Pyongyang suspending nuclear tests if the security of the North’s government is assured.

In what would be a key North Korean concession, Chung said Kim “understands that the routine joint military exercises between the Republic of Korea and the United States must continue.”

Pyongyang had previously demanded that such joint drills be suspended in order for any US talks to go forward.

Trump in the past has derided the North Korean leader as a “maniac,” referred to him as “little rocket man” and threatened in a speech to the United Nations last year to “totally destroy” his country of 26 million people if it attacked the United States or one of its allies.

Kim had responded by calling the US president a “mentally deranged US dotard.”

Trump has also been scathing in his criticism of previous US administrations for not doing more to rein in the North Korean government.

“He believes that he has them on the ropes, or at a disadvantage right now. They only made the gesture because they feel the pressure badly and so this a good time,” a second senior administration official said.

But US officials may also be wary since North Korea has yet to weigh in directly on its diplomatic offer and previous overtures from Pyongyang have sometimes carried demands that Washington has found impossible to accept, such as the withdrawal of US troops from South Korea.

Japanese Prime Minister Shinzo Abe said he confirmed in telephone talks with Trump that pressure still needed to be applied worldwide on North Korea.

Abe also told reporters he hoped to visit the United States as early as next month to meet Trump to discuss North Korea, among other issues.

“We welcome the change in North Korea’s stance”, Abe said. “Japan and the United States will not waver in its firm stance that they will continue to put maximum pressure until North Korea takes concrete action towards the complete, verifiable and irreversible end to nuclear missile development.”

A senior administration official said Trump agreed to meet Kim because Kim is the “one person who is able to make decisions under their authoritarian, uniquely authoritarian, or totalitarian system,” a senior administration official said.

Daniel Russel, until last April the assistant secretary of state for East Asia and the Pacific, the most senior US diplomatic position for Asia, noted there had still been no public comment from North Korea about the content of Monday’s meeting with the South Korean delegation.

“Let’s hear from the North Koreans themselves what they are proposing and what they are willing to do. There is plenty of reason to be cautious, given their track record,” Russel said. “Second, let’s read the fine print. The North has made peace overtures in the past that did not hold up under scrutiny.”

Tensions over North Korea rose to their highest in years in 2017, and the Trump administration has warned that all options are on the table, including military ones, in dealing with Pyongyang, which has pursued its weapons programs in defiance of ever tougher UN sanctions.

Signs of a thaw emerged this year, with North and South Korea resuming talks and North Korea attending the Winter Olympics. During the Pyongyang talks this week, the two Koreas agreed to hold their first summit since 2007 in late April.

South Korean President Moon Jae-in has said sanctions should not be eased for the sake of talks and that nothing less than denuclearization of North Korea should be the final goal for talks.

China’s foreign minister, Wang Yi, called on the United States and North Korea to hold talks as soon as possible, warning at a news briefing in Beijing on Thursday that things “will not be smooth sailing”.

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Agencies
April 17,2020

Beijing/Wuhan, Apr 17: China's coronavirus death toll mounted to 4,632 on Friday as the country revised figures in its epicentre Wuhan with 1,290 additional fatalities amid international criticism of under-reporting of COVID-19 data.

The Wuhan municipal headquarters on Friday revised the number of confirmed COVID-19 cases and deaths due to the disease, state-run Xinhua news agency reported.

As of April 16, the total number of confirmed coronavirus cases in Wuhan was increased by 325 to 50,333 and the number of fatalities up by 1,290 to 3,869.

The revised figure raised China's overall COVID-19 death toll to 4,632. The total number of cases also increased to 82,692.

The Wuhan municipal headquarters in a notification said the revisions were made in accordance with related laws and regulations as well as the principle of being responsible for history, the people and the deceased.

The revision of figures came amid sharp criticism of China by the US and other nations for its alleged under-reporting of the coronavirus cases and cover-up of the origin of the viral strain, which emerged in Wuhan in December last, reportedly from the local Hunan sea food market.

Explaining the reason for the figure revision, the Wuhan municipality said it was done to ensure that the information on the city's COVID-19 epidemic is open and transparent, and that the data are accurate.

Listing the reasons for the data discrepancies, it said the surging number of patients at the early stage of the epidemic overwhelmed medical resources and the admission capacity of medical institutions. Some patients died at home without having been treated in hospitals.

Besides, during the height of their treating efforts, hospitals were operating beyond their capacities and medical staff were preoccupied with saving and treating patients, resulting in belated, missed and mistaken reporting.

Also, due to a rapid increase of designated hospitals for treating COVID-19 patients -- including those administered by ministries, Hubei Province, Wuhan city and its districts, those affiliated to companies, as well as private hospitals and makeshift hospitals -- a few medical institutions were not linked to the epidemic information network and failed to report their data in time.

The registered information of some of the deceased patients was incomplete, and there were repetitions and mistakes in the reporting, the Wuhan authorities noted.

Citing an official of the Wuhan municipal headquarters, Xinhua reported that a group for epidemic-related big data and epidemiological investigations was established in late March.

The group used information from online systems and collected full information from all epidemic-related locations to ensure that facts about every case are accurate and every figure is objective and correct.

"What lie behind the epidemic data are the lives and health of the general public, as well as the credibility of the government," the official was quoted by the report.

The timely revision of the figures, among other things, shows respect for every single life, the official said.

Meanwhile, the revised cases were not included in the overall national figures released by China's National Commission (NHC) in its daily report on Friday as it reports previous day's cases.

As per NHC data, as of Thursday the overall confirmed cases of coronavirus was 82,367, including 3,342 deaths.

As many as 1,081 patients are being treated and 77,944 people discharged after recovery, it said.

NHC said it received reports of 26 new confirmed COVID-19 cases from the mainland on Thursday, of which 15 were imported.

The other 11 new cases were domestically transmitted, it said, noting that five cases were reported in Guangdong Province, three in Heilongjiang Province, two in Shandong Province and one in Liaoning Province.

No death was reported on Thursday on the mainland.

As of Thursday, China has a total of 1,549 imported cases, NHC said, adding that 879 were undergoing treatment with 45 in severe condition. Besides, there were 66 new asymptomatic cases, taking the tally to 1,038.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
March 12,2020

Geneva, Mar 12: For the global economy, virus repercussions were profound, with increasing concerns of wealth- and job-wrecking recessions. U.S. stocks wiped out more than all the gains from a huge rally a day earlier as Wall Street continued to reel.

The Dow Jones Industrial Average dropped 1,464 points, bringing it 20% below its record set last month and putting it in what Wall Street calls a “bear market.” The broader S&P 500 is just 1 percentage point away from falling into bear territory and bringing to an end one of the greatest runs in Wall Street’s history.

WHO officials said they thought long and hard about labeling the crisis a pandemic — defined as sustained outbreaks in multiple regions of the world.

The risk of employing the term, Ryan said, is “if people use it as an excuse to give up.” But the benefit is “potentially of galvanizing the world to fight.”

Underscoring the mounting challenge: soaring numbers in the U.S. and Europe’s status as the new epicenter of the pandemic. While Italy exceeds 12,000 cases and the United States has topped 1,300, China reported a record low of just 15 new cases Thursday and three-fourths of its infected patients have recovered.

China’s totals of 80,793 cases and 3,169 deaths are a shrinking portion of the world’s more than 126,000 infections and 4,600 deaths.

“If you want to be blunt, Europe is the new China,” said Robert Redfield, the head of the U.S. Centers for Disease Control and Prevention.

With 12,462 cases and 827 deaths, Italy said all shops and businesses except pharmacies and grocery stores would be closed beginning Thursday and designated billions in financial relief to cushion economic shocks in its latest efforts to adjust to the fast-evolving crisis that silenced the usually bustling heart of the Catholic faith, St. Peter’s Square.

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