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
March 28,2020

London: Italy on Friday recorded the most daily deaths of any country since the start of the coronavirus pandemic and Spain had its deadliest day, as British Prime Minister Boris Johnson became the first major world leader to test positive.

Italy reported 969 new deaths, Spain 769 and France 299 as Europe reeled from a crisis that has put millions at risk around the world and threatened a global economic meltdown.

In other grim milestones, AFP tallies showed a total of 300,000 cases now recorded in Europe with more than 26,000 deaths worldwide, and the United States overtook China as the country with the most infections.

Italy showed infection rates continuing a downward trend and Spain said its rate of new infections appeared to be slowing, but other countries were bracing to feel the full impact of the virus's spread.

The World Health Organization's regional director for Africa warned the continent faced a "dramatic evolution" of the pandemic, as South Africa became the latest nation to start life under lockdown and reported its first COVID-19 deaths.

Johnson, whose country has seen more than 14,000 declared coronavirus cases and 759 deaths, said he had developed mild symptoms over the previous 24 hours and was self-isolating after testing positive.

Britain's Health Secretary Matt Hancock also tested positive with mild symptoms.

Europe has suffered the brunt of the coronavirus crisis in recent weeks, with millions across the continent on lockdown and the streets of Paris, Rome and Madrid eerily empty.

In France — where nearly 2,000 people have died -- the government announced it was extending its stay-at-home order until at least April 15. While severe, the 299 new deaths it recorded on Friday was lower than the 365 reported the previous day.

The death of a 16-year-old girl from the virus has particularly shaken France, and shattered the belief of many young people that they are immune.

The girl's mother Sabine told AFP that Julie "just had a cough" at first but deteriorated quickly. She died on Wednesday, less than a week after showing her first symptoms.

"It's unbearable," Sabine said. "We were supposed to have a normal life."

Focus was also turning to the United States, where the number of known infections jumped by 18,000 on Friday, reaching more than 97,000 -- higher than both China and Italy. The US also recorded 345 deaths over the past 24 hours, with a total toll of 1,478.

In New York City, health workers are battling a surging toll of dead and infected at the US epicentre of the crisis, including an increasing number of younger patients.

"Now it's 50-year-olds, 40-year-olds, 30-year-olds," said one respiratory therapist at the Jewish Medical Center in Queens.

They "didn't listen about not going out or protecting themselves and washing their hands", he said.

- 'Afraid and lost' -

The coronavirus first emerged in China late last year before spreading globally, with more than half a million declared cases in 183 countries and territories.

Over the last six days, as many new cases have been diagnosed around the world as in the previous 80 days.

Beijing managed to contain its spread with lockdowns and quarantines and its epicentre Wuhan is in the process of easing severe movement restrictions in place for two months.

Three billion people around the world have been told to stay indoors.

In a historic first, Pope Francis performed the rarely recited "Urbi et Orbi" blessing to an empty Saint Peter's Square.

"Thick darkness has gathered over our squares, our streets and our cities; it has taken over our lives, filling everything with a deafening silence and a distressing void, that stops everything as it passes by," he said.

"We find ourselves afraid and lost," he said, describing the coronavirus as a "tempest".

Health care systems even in the most developed nations are stretched to breaking point and medical workers have been having to make difficult choices.

"If I've got five patients and only one bed, I have to choose who gets it," Sara Chinchilla, a paediatrician at a hospital near Madrid, told AFP.

The WHO's chief Tedros Adhanom Ghebreyesus said the dire lack of protective gear for frontline health workers was one of the most pressing problems in the fight to prevent deaths.

"The chronic global shortage of personal protective equipment is now one of the most urgent threats to our collective ability to save lives," he told a virtual news conference in Geneva.

Lockdowns and other measures are wreaking havoc on the global economy, with fears of a downturn worse than the Great Depression of the 1930s.

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, International Monetary Fund chief Kristalina Georgieva said Friday.

Unprecedented stimulus measures have helped markets bounce back after a brutal month, but people around the world are bracing for economic hardship.

The United States reported that 3.3 million people applied for unemployment benefits last week -- by far the highest number ever recorded.

Retail workers in particular have suffered as many countries shutter non-essential business, while airlines and the global tourism industry have been dealt devastating blows.

The fashion industry was the latest hit on Friday, with Paris men's fashion week and haute couture shows cancelled along with Milan men's fashion week.

- Armies of volunteers -

The World Tourism Organization said Friday it expected tourist arrivals to fall by 20-30 percent this year, with losses of $300 billion-450 billion in international tourism receipts.

But there have been rays of hope in the midst of the crisis.

Armed groups in Cameroon, the Philippines and Yemen have moved in recent days to reduce violence after UN Secretary General Antonio Guterres issued an appeal for ceasefires.

And armies of volunteers have emerged in many countries to bring help to the needy, with food deliveries for the elderly, free taxi rides, accommodation for health workers, and even home-sewn face masks.

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News Network
May 19,2020

May 19: A Chinese laboratory has been developing a drug it believes has the power to bring the coronavirus pandemic to a halt.

The outbreak first emerged in China late last year before spreading across the world, prompting an international race to find treatments and vaccines.

A drug being tested by scientists at China's prestigious Peking University could not only shorten the recovery time for those infected, but even offer short-term immunity from the virus, researchers say.

Sunney Xie, director of the university's Beijing Advanced Innovation Center for Genomics, told AFP that the drug has been successful at the animal testing stage.

"When we injected neutralising antibodies into infected mice, after five days the viral load was reduced by a factor of 2,500," said Xie.

"That means this potential drug has (a) therapeutic effect."

The drug uses neutralising antibodies -- produced by the human immune system to prevent the virus infecting cells -- which Xie's team isolated from the blood of 60 recovered patients.

A study on the team's research, published Sunday in the scientific journal Cell, suggests that using the antibodies provides a potential "cure" for the disease and shortens recovery time.

Xie said his team had been working "day and night" searching for the antibody.

"Our expertise is single-cell genomics rather than immunology or virology. When we realised that the single-cell genomic approach can effectively find the neutralising antibody we were thrilled."

He added that the drug should be ready for use later this year and in time for any potential winter outbreak of the virus, which has infected 4.8 million people around the world and killed more than 315,000.

"Planning for the clinical trial is underway," said Xie, adding it will be carried out in Australia and other countries since cases have dwindled in China, offering fewer human guinea pigs for testing.

"The hope is these neutralised antibodies can become a specialised drug that would stop the pandemic," he said.

China already has five potential coronavirus vaccines at the human trial stage, a health official said last week.

But the World Health Organization has warned that developing a vaccine could take 12 to 18 months.

Scientists have also pointed to the potential benefits of plasma -- a blood fluid -- from recovered individuals who have developed antibodies to the virus enabling the body's defences to attack it.

More than 700 patients have received plasma therapy in China, a process which authorities said showed "very good therapeutic effects".

"However, it (plasma) is limited in supply," Xie said, noting that the 14 neutralising antibodies used in their drug could be put into mass production quickly.

Using antibodies in drug treatments is not a new approach, and it has been successful in treating several other viruses such as HIV, Ebola and Middle East Respiratory Syndrome (MERS).

Xie said his researchers had "an early start" since the outbreak started in China before spreading to other countries.

Ebola drug Remdesivir was considered a hopeful early treatment for COVID-19 -- clinical trials in the US showed it shortened the recovery time in some patients by a third -- but the difference in mortality rate was not significant.

The new drug could even offer short-term protection against the virus.

The study showed that if the neutralising antibody was injected before the mice were infected with the virus, the mice stayed free of infection and no virus was detected.

This may offer temporary protection for medical workers for a few weeks, which Xie said they are hoping to "extend to a few months".

More than 100 vaccines for COVID-19 are in the works globally, but as the process of vaccine development is more demanding, Xie is hoping that the new drug could be a faster and more efficient way to stop the global march of the coronavirus.

"We would be able to stop the pandemic with an effective drug, even without a vaccine," he said.

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News Network
February 6,2020

Washington, Feb 6: The US has expressed concern over the current situation of religious freedom in India and raised the issue with Indian officials, a senior State Department official has said.

The remarks came in the wake of widespread protests held across India against the Citizenship Amendment Act (CAA).

The senior State Department official, on condition of anonymity, said that he has met with officials in India about what is taking place in the nation and expressed concern.

"We are concerned about what's taking place in India. I have met with the Indian foreign minister. I've met with the Indian ambassador (to express my concern)," the official, who was recently in India, told reporters on Wednesday.

The US has also "expressed desire first to try to help and work through some of these issues", the official said as Secretary of State Mike Pompeo launched a 27-nation International Religious Freedom Alliance.

"To me, the initial step we try to do in most places is say what can we do to be of help you work through an issue to where there's not religious persecution. That's the first step, is just saying can we work with you on this," the official said.

India maintains that the Indian Constitution guarantees fundamental rights to all its citizens, including its minority communities.

It is widely acknowledged that India is a vibrant democracy where the Constitution provides protection of religious freedom, and where democratic governance and rule of law further promote and protect fundamental rights, a senior official of the Ministry of External Affairs has said.

According to the CAA, members of Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities who have come from Pakistan, Bangladesh and Afghanistan till December 31, 2014 following religious persecution there will get Indian citizenship.

The Indian government has been emphasising that the new law will not deny any citizenship rights, but has been brought to protect the oppressed minorities of neighbouring countries and give them citizenship.

Defending the CAA, Prime Minister Narendra Modi last month said that the law is not about taking away citizenship, it is about giving citizenship.

"We must all know that any person of any religion from any country of the world who believes in India and its Constitution can apply for Indian citizenship through due process. There's no problem in that," he said.

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