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Indians will no longer require visas to visit Brazil: President Bolsonaro

Agencies
October 25, 2019

Sao Paolo, Brazil, Oct 25: Brazilian President Jair Bolsonaro said on Thursday the South American nation will drop its requirement that visiting Chinese and Indian tourists or businesspeople obtain visas.

Bolsonaro, a far-right politician, came to power at the beginning of the year and has made it a policy to reduce visa requirements from a number of developed countries. But the announcement, made during an official visit to China, is the first he has made expanding that policy to the developing world.

Earlier this year, the Brazilian government ended visa requirements for tourists and businesspeople from the United States, Canada, Japan and Australia. Those countries, however, have not in return dropped their visa requirements for Brazilian citizens.

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Agencies
July 28,2020

Sydney, Jul 28: Nearly 3 billion koalas, kangaroos and other native Australian animals were killed or displaced by bushfires in 2019 and 2020, a study by the World Wide Fund for Nature (WWF) said on Tuesday, triple the group's earlier estimates.

Some 143 million mammals, 2.46 billion reptiles, 180 million birds and 51 million frogs were impacted by the country's worst bushfires in decades, the WWF said.

When the fires were still blazing, the WWF estimated the number of affected animals at 1.25 billion. The fires destroyed more than 11 million hectares (37 million acres) across the Australian southeast, equal to about half the area of the United Kingdom.

"This ranks as one of the worst wildlife disasters in modern history," said WWF-Australia Chief Executive Officer Dermot O'Gorman in a statement.

The project leader Lily Van Eeden, from the University of Sydney, said the research was the first continent-wide analysis of animals impacted by the bushfires, and "other nations can build upon this research to improve understanding of bushfire impacts everywhere".

The total number included animals which were displaced because of destroyed habitats and now faced lack of food and shelter or the prospect of moving to habitat that was already occupied.

The main reason for raising the number of animal casualties was that researchers had now assessed the total affected area, rather than focusing on the most affected states, they said.

After years of drought made the Australian bush unusually dry, the country battled one of its worst bushfire seasons ever from September 2019 to March 2020, resulting in 34 human deaths and nearly 3,000 homes lost.

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News Network
January 27,2020

Kolkata, Jan 27: The West Bengal government on Monday tabled a resolution against the Citizenship (Amendment) Act in the Assembly.

The resolution appeals to the Union government to repeal the amended citizenship law and revoke plans to implement NRC and update NPR.

As per reports, state Parliamentary Affairs Minister Partha Chatterjee introduced the resolution in the House around 2 pm.

Three states - Kerala, Rajasthan and Punjab - have already passed resolutions against the new citizenship law.

The law has emerged as the latest flashpoint in the state, with the TMC opposing the contentious legislation tooth and nail, and the BJP pressing for its implementation.

The new citizenship law has emerged as the latest flashpoint in the state, with the TMC opposing the contentious legislation tooth and nail, and the BJP pressing for its implementation.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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