India extends $1 billion line of credit for development of Russia's Far East

Agencies
September 5, 2019

Vladivostok, Sept 5: Prime Minister Narendra Modi on Thursday said India will walk shoulder-to-shoulder with Russia in its development of the Far East and announced a USD 1 billion line of credit for the development of the resource-rich region.

Addressing the plenary session of the 5th Eastern Economic Forum here, prime minister Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations.

"India's connection to Russia's Far East go back a long way. India was the first country to open a Consulate in Vladivostok," he said.

"For the development of Far East, India will give line of credit worth USD 1 billion. My government has actively engaged East Asia as part of its 'Act East' policy. I firmly believe that today's announcement will add a new dimension to the economic diplomacy of the two countries," Modi said at a packed house here.

The Prime Minister, in the presence of Russian President Vladimir Putin, also unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region.

"Let us deepen the bond between India and Russia even further. India is proud of the achievements of the Indian diaspora. I am sure here in the Russian Far East too the Indian diaspora will make an active contribution towards the region's progress," Modi said.

"India is a proud and active participant in the various activities of the Eastern Economic Forum. Participation has come from top levels of government and industry," he said.

Indian firms have invested over USD 7 billion in taking stake in Russian oil and gas fields. India ventured into Russia when its flagship overseas firm ONGC Videsh in 2001 acquired a 20 per cent stake in Sakhalin-1 oil and gas field in Far East Russia.

OVL later bought Imperial Energy, which has fields in Siberia, as also stakes in Vankor oilfield in eastern Siberia.

IOC and its partners have picked up 29.9 per cent stake in a separate Taas-Yuryakh oilfield in East Siberia.

Russian oil firm Rosneft in 2017 bought Essar Oil, which operates in Vadinar oil refinery in Gujarat and some 5,500 petrol pumps, for USD 12.9 billion.

Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the President has opened up investment opportunities for India in the region.

"By declaring the development of the Russian Far East a 'national priority for the 21st century', President Putin has taken a holistic approach towards improving everything ranging from economy, education, health to sports, culture or communication," he said.

Prime Minister Modi also emphasised on India's commitment to become a five trillion dollar economy by 2024.

Modi, who arrived in Russia on a two-day visit on Wednesday, is the first Indian prime minister to visit to the Russian Far East Region.

He arrived here to participate in the 20th India-Russia annual summit with President Putin and the fifth meeting of the Eastern Economic Forum (EEF).

The forum focuses on development of business and investment opportunities in the Russian Far East Region, and presents enormous potential for developing close and mutually beneficial cooperation between India and Russia in the region.

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News Network
June 9,2020

Jun 9: The World Health Organization says it still believes the spread of the coronavirus from people without symptoms is “rare,” despite warnings from numerous experts worldwide that such transmission is more frequent and likely explains why the pandemic has been so hard to contain.

Maria Van Kerkhove, WHO''s technical lead on COVID-19 said at a press briefing on Monday that many countries are reporting cases of spread from people who are asymptomatic, or those with no clinical symptoms.

But when questioned in more detail about these cases, Van Kerkhove said many of them turn out to have mild disease, or unusual symptoms.

Although health officials in countries including Britain, the U.S. and elsewhere have warned that COVID-19 is spreading from people without symptoms, WHO has maintained that this type of spread is not a driver of the pandemic and is probably accounts for about 6 per cent of spread, at most.

Numerous studies have suggested that the virus is spreading from people without symptoms, but many of those are either anecdotal reports or based on modeling.

Van Kerkhove said that based on data from countries, when people with no symptoms of COVID-19 are tracked over a long period to see if they spread the disease, there are very few cases of spread.

“We are constantly looking at this data and we''re trying to get more information from countries to truly answer this question,” she said. “It still appears to be rare that asymptomatic individuals actually transmit onward.”

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Agencies
January 20,2020

Wuhan, Jan 20: A 45-year-old Indian woman has become the first foreigner in China to have contracted a mysterious virus, which is suspected to be Severe Acute Respiratory Syndrome (SARS)-like corona virus.

In 2002-2003, the SARS corona virus killed around 650 people in China and Hong Kong. This time, a new strain of virus with 62 cases have been reported in Wuhan and two in Shenzhen so far. 19 patients have been already cured and discharged, as per the Chinese media.

Official sources in Beijing said that the patient, Preeti Maheshwari, a school teacher at an international school, is undergoing treatment for the new strain of pneumonia outbreak, which has been spreading in two major cities of China - Wuhan and Shenzen. She has been on a ventilator in the intensive care unit.

Maheshwari was admitted to a local hospital after she seriously fell ill last Friday. Her husband, a businessman from Delhi, is allowed to visit her daily.

Following a second death due to the outbreak of the virus in Wuhan, India on Friday issued an advisory to its nationals travelling to China. Over 500 Indian medical students are studying in Wuhan.

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News Network
April 17,2020

Paris, Apr 17: The number of coronavirus-related deaths in France has increased by 753 to 17,920 over the past 24 hours, with the total case count now standing at 108,847, Jerome Salomon, the head of the state health agency, said on Thursday.

On Wednesday, the country reported a total of 106,206 cases, including a record 1,438 new fatalities. Salomon specified that it was not the daily death toll, as the data had been compiled over the last three-day weekend.

"The total number of victims since March 1 is 17,920," Salomon said at a briefing on Thursday.
He noted that 11,060 of them had died in hospitals, and 6,860 others in social and medical-social facilities.

President Emmanuel Macron on Monday extended nationwide movement restrictions, which had been introduced due to the epidemic, until May 11. Afterwards, the country is set to gradually reopen kindergartens, schools and universities.

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