Pak political drama nears end after army chief intervenes

Jan 23: Pakistan's Prime Minister Imran Khan called on Wednesday for the United Nations to help mediate between nuclear armed India and Pakistan over the disputed territory of Kashmir.

"This is a potential flashpoint," Khan said during a media briefing at the annual meeting of the World Economic Forum in Davos, Switzerland, adding that it was time for the "international institutions ... specifically set up to stop this" to "come into action".

The Indian government in August revoked the constitutional autonomy of Indian-administered Kashmir, splitting the Muslim-majority region into two federal territories in a bid to integrate it fully with the rest of the country.

Kashmir is claimed in full by both India and Pakistan. The two countries have gone to war twice over it, and both rule parts of it. India's portion has been plagued by separatist violence since the late 1980s.

Khan said his biggest fear was how New Delhi would respond to ongoing protests in India over a citizenship law that many feel targets Muslims.

"We're not close to a conflict right now ... What if the protests get worse in India, and to distract attention from that, what if ..."

The prime minister said he had discussed the prospect of war between his country and India in a Tuesday meeting with US President Donald Trump. Trump later said he had offered to help mediate between the two countries.

Khan said Pakistan and the United States were closer in their approach to the Taliban armed rebellion in Afghanistan than they had been for many years. He said he had never seen a military solution to that conflict.

"Finally the position of the US is there should be negotiations and a peace plan."

In a separate on-stage conversation later on Wednesday, Khan said he had told Trump in their meeting that a war with Iran would be "a disaster for the world". Trump had not responded, Khan said.

Khan made some of his most straightforward comments when asked why Pakistan has been muted in defence of Uighurs in China.

China has been widely condemned for setting up complexes in remote Xinjiang province that Beijing describes as "vocational training centres" to stamp out ""extremism and give people new skills.

The United Nations says at least one million ethnic Uighurs and other Muslims have been detained.

When pressed on China's policies, Khan said Pakistan's relations with Beijing were too important for him to speak out publicly.

"China has helped us when we were at rock bottom. We are really grateful to the Chinese government, so we have decided that any issues we have had with China we will handle privately."

London, Apr 30: The coronavirus is roiling global job markets, but the picture is not all gloomy. Finance, technology and consumer goods firms are hiring tens of thousands in the United States and other countries, according to data from Microsoft Corp's professional networking site LinkedIn.

Across seven countries in North America, Europe and Asia, healthcare providers are among the busiest recruiters given the ongoing battle against the novel coronavirus, which has killed over 200,000 people and infected over 3 million people worldwide, LinkedIn said. But lifestyle changes during lockdown are also driving demand for financial consultants, factory workers, animators and game designers, and delivery workers.

Overall, the hiring rate has plunged in the first quarter from the year-ago period, and in late April remains lower than a year ago across most countries surveyed by the platform. But the data offer a glimmer of hope with a gradual uptick in China, where the coronavirus emerged last year and which leads the world in surfacing from a months-long lockdown.

LinkedIn, with over 690 million users worldwide, counts new hires when people add a new employer to their profile. The rate is the number of new hires divided by the total number of LinkedIn members in a country.

The figures, tracked since mid-February, are not corroborated by official jobs data and do not represent the actual number of jobs in an economy. Government figures are usually released with a time-lag of several weeks.

"We are confident that our data is directionally correct in that there has been a huge decline in hiring in the U.S. and abroad," Guy Berger, principal economist at LinkedIn in California, told Reuters.

Hiring in China plummeted 50% during the height of its coronavirus crisis in mid-February from 12 months earlier. Since restrictions were eased in early April, the hiring rate has inched up, and for the week ending April 24 was 3% lower than the same period in 2019.

Hiring in the United States, United Kingdom, France and Italy - which lead the world in coronavirus-related deaths - remains hugely depressed, but is falling less rapidly than a few weeks ago as the countries pass the peak of their epidemics.

Retailers including Walmart Inc, Amazon.com Inc and Instacart have said they would hire a total of over 700,000 workers to meet a surge in demand for groceries and household essentials during the coronavirus outbreak.

Coronavirus state-wise India update: Total number of confirmed cases, deaths on April 30

Consumer goods manufacturers such as Unilever, whose products include soap and shampoo, confirmed on Wednesday it was hiring to fill 300 jobs globally, but declined to elaborate.

Nestle told Reuters it was looking to fill 5,000 full-time U.S. positions in "a variety of levels across corporate and frontline."

Fidelity Investments, a Boston-based financial services firm, said it had accelerated recruitment because of the pandemic and was looking to fill at least 2,000 full-time roles for financial consultants, software engineers and customer service staff in the United States in 2020.

Companies hiring in the United States and other countries also include Apple Inc; ByteDance, the Chinese parent of video-sharing social network TikTok; Takeda Pharmaceutical Co Ltd; and aerospace and defence company Lockheed Martin Corp. These companies did not immediately respond to requests for comment.

DIRE WARNINGS

The International Labour Organization warned on Wednesday that 1.6 billion workers, or nearly half of the global workforce, especially in the informal economy, could lose their livelihoods.

Record numbers of people have applied for U.S. jobless benefits since mid-March, and the unemployment rate is expected to soar to 16%, White House economic adviser Kevin Hasset said this week, from a 50-year low of 3.5% before the pandemic hit.

Both Italy and France, in lockdown for nearly two months, have seen hiring rates drop by around 70% from a year ago, according to LinkedIn.

Since China is ahead of other countries on the pandemic timeline, improvements there could suggest the same is in store elsewhere, Berger said. Several American states and European countries have begun allowing some non-essential businesses and schools to reopen in the hopes of restarting the economy and allowing a gradual return to normal life.

"It's still slightly early to call it a firm recovery," Berger said, referring to improving prospects in China. "We're not expecting a full recovery but rather it's an indication that parts of the economy will switch on as lockdowns are eased, at least relative to the worst point of the pandemic."

India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low, the international business school said on Tuesday.

Singapore has retained its top position on the 63-nation list.

Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019).

The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).

India was ranked 41st on the IMD World Competitiveness Ranking, being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.

While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity, the IMD said.

However, it has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.

Arturo Bris, Head of Competitiveness Center at IMD Business School, said India continues to struggle on the list and the recent country rating downgrade by Moody’s reflects the uncertainties regarding the economy’s future.

"In our ranking this year, we again emphasize the traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody. For India to follow the path of China, it must stress its intangible infrastructure," Bris said.

"In a less global world, with China, USA, and Europe looking inwards, currencies like the rupee (and the Brazilian real for instance) are going to suffer and display high volatilities.

"Moody’s has threatened the country with a downgrade to junk and that would put India in a terrible position to attract foreign capital. So the urgency for the government should be to fix the short-term problems—and this requires to improve the credibility of the government itself," Bris added.

With the exception of Singapore, the Philippines, Taiwan and the Korean Republic, most Asian economies dropped in rankings this year, the IMD said.

The reason for the Asian economies’ less stellar performance as a region, this year is partly the result of the trade frictions between China and the US, particularly because these economies are highly dependent on trade with China.

About Singapore, which moved to the top rank last year, the IMD said its position is largely driven by the relative ease of setting up business, availability of skilled labour and its cutting-edge technological infrastructure.

The IMD said the impact of COVID-19 on the competitiveness ranking has partially been captured by executives’ opinions about the effectiveness of the different health systems.

In the ASEAN countries included in the survey, only Singapore and Thailand have a positive performance in the effectiveness of the health infrastructure.