White House invites Modi to visit U.S.

May 17, 2014

Washington, May 17: U.S. President Barack Obama effectively reversed a nine-year U.S. visa ban when he congratulated Gujarat Chief Minister Narendra Modi on his party's “historic” victory in the Indian general election, and then invited Mr. Modi to visit the U.S. at a “mutually agreeable time to further strengthen our bilateral relationship.”

White_House_invites_ModiAdditionally, the White House said on Friday, “We look forward to working with [the new Indian government] once formed to advance our partnership.”

U.S. Secretary of State John Kerry chose micro-blogging site Twitter to say to Mr. Modi, “Congrats to @narendramodi and BJP. Look forward to working w/you/growing shared prosperity/security w/world's largest democracy.”

The State Department elaborated on Mr. Kerry's statement saying that it congratulated Mr. Modi and the BJP on its victory in winning a majority of seats in India's historic national election, “which saw more voters cast their ballots freely and fairly than in any election in human history.”

State Department officials said that they understood that the next steps were for the Indian Election Commission to officially inform the President of the certified election results, and for him to appoint a Prime Minister.

The U.S. has, since 2005, denied Mr. Modi an entry visa on the grounds that he has been linked to curtailments of religious freedom in the context of the 2002 Gujarat riots.

However, on Friday, the White House Press Secretary Jay Carney said during a media briefing “The Prime Minister of India will be welcomed to the U.S.,” and added that once the government was formed, the U.S. looked forward to working “closely with the Prime Minister and the Cabinet to advance our strong, bilateral relationship based on shared democratic values.”

The State Department echoed the White House view that “The Prime Minister of India will be welcomed to the U.S. [and] as Head of Government, Mr. Modi would be eligible for an A-1 visa.”

Some groups in the U.S. drew attention to the visa and Gujarat riots issue on Friday, and the Coalition Against Genocide (CAG), an umbrella group focusing on justice and accountability for the pogrom said that it “pledged to continue its struggle with renewed fervour in the wake of the election results in India.”

CAG Spokesperson Raja Swamy underscored Mr. Modi's alleged links to the RSS cautioning that “During this election campaign, RSS leaders have been openly raking up contentious issues, posing a threat to communal harmony and increasing the prospect of violence against minorities.”

Reactions to the BJP's stronger-than-anticipated victory in the elections were nevertheless broadly positive.

New York Democratic Congressman and Co-Chair of the Congressional Caucus on India and Indian-Americans, said, in a statement “From Kerala to Jaipur, from Mumbai to Kolkata, the power of democracy was on display throughout the country. I applaud India's commitment to the democratic process and wish the Indian people and government the very best.”

Sanjay Puri, Chairman of the U.S. India Political Action Committee similarly said, “On behalf of the Indian-American community and friends of India in the U.S., USINPAC extends its warm congratulations to Narendra Modi for leading the BJP to a spectacular victory in these historic elections in India.”

Emphasising that Indian-Americans were “heartened to note that the BJP will have single party majority in the Parliament,” he added, “The Indian Diasporas and friends of India in the U.S. … cheer and send our best of wishes to the people of India, and the leadership of Mr. Modi.”

The Confederation of Indian Industry, which has spearheaded numerous efforts to boost India's profile as an investor in the U.S. economy and a destination for U.S. investments, welcomed the election results with an eye on the prospects for accelerating future economic growth.

Chandrajit Banerjee, CII Director-General, said, “With a decisive mandate, the new government could take the tough decisions that are urgently needed to revive economic growth. The first priority is to get the cleared projects operational. This is the quickest way to revive investment demand.”

He also urged the new government, once formed, to sharpen the focus on “issues arising out of the land acquisition act and the new companies act,” and passing a “strong reform package… to generate the 150 million new jobs that India needs over the next ten years.”

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News Network
January 3,2020

Washington, Jan 3: US President Donald Trump ordered the killing of Iran Revolutionary Guards commander Qasem Soleimani, who died in Baghdad "in a decisive defensive action to protect US personnel abroad," the Pentagon said Thursday.

"General Soleimani was actively developing plans to attack American diplomats and service members in Iraq and throughout the region. General Soleimani and his Quds Force were responsible for the deaths of hundreds of American and coalition service members and the wounding of thousands more," the Department of Defense said.

Following Soleimani's death, Trump tweeted an image of the US flag without any further explanation.

"US' act of international terrorism, assassinating General Soleimani—the most effective force fighting Daesh (ISIS), Al Nusrah,Al Qaeda, is extremely dangerous & foolish escalation. US bears responsibility for all consequences of rogue adventurism." said Iran Foreign Minister Javad Zarif.

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News Network
June 2,2020

Jun 2: A new female billionaire has emerged from one of Asia's most-expensive breakups.

Du Weimin, the chairman of Shenzhen Kangtai Biological Products Co., transferred 161.3 million shares of the vaccine maker to his ex-wife, Yuan Liping, according to a May 29 filing, immediately catapulting her into the ranks of the world's richest.

The stock was worth $3.2 billion as of Monday's close.

Yuan, 49 this year, owns the shares directly, but signed an agreement delegating the voting rights to her ex-husband, the filing shows. The Canadian citizen, who resides in Shenzhen, served as a director of Kangtai between May 2011 and August 2018. She's now the vice general manager of subsidiary Beijing Minhai Biotechnology Co. Yuan holds a bachelor's degree in economics from Beijing's University of International Business and Economics.

Kangtai shares have more than doubled in the past year and have continued their ascent since February, when the company announced a plan to develop a vaccine to fight the coronavirus. They slipped for a second day Tuesday following news of the divorce terms, losing 3.1% as of 9:43 a.m. in Hong Kong and bringing the company's market value to $12.9 billion.

Du's net worth has now dropped to about $3.1 billion from $6.5 billion before the split, excluding his pledged shares.

The 56-year-old was born into a farming family in China's Jiangxi province. After studying chemistry in college, he began working in a clinic in 1987 and became a sales manager for a biotech company in 1995, according to the prospectus of Kangtai's 2017 initial public offering. In 2009, Kangtai acquired Minhai, the company Du founded in 2004, and he became the chairman of the combined entity.

China's rapidly growing economy has been an engine for the country's richest, and Du is not the only tycoon who's had to pay a steep price for a divorce. In 2012, Wu Yajun, at one point the nation's richest woman, transferred a stake worth about $2.3 billion to her ex-husband, Cai Kui, who co-founded developer Longfor Group Holdings Ltd. In 2016, tech billionaire Zhou Yahui gave $1.1 billion of shares in his online gaming company, Beijing Kunlun Tech Co., to ex-wife Li Qiong after a civil court settlement.

Sometimes, a goodbye can be time-consuming too. South Korean tycoon Chey Tae-won's wife filed a lawsuit in December asking for a 42.3% stake in SK Holdings Co. valued at $1.2 billion. That would make her the second-largest shareholder of the company should she win the case, which is still ongoing.

The most expensive divorce in history is that of Jeff and MacKenzie Bezos. The Amazon.com Inc. founder gave 4% of the online retailer to Mackenzie, who now has a $48 billion fortune and is the world's fourth-richest woman.

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News Network
May 19,2020

Washington, May 19: As the scientists across the world are struggling to develop a vaccine for combating coronavirus, US drugmaker Moderna announced on Monday (local time) that the phase I trial of its Covid-19 vaccine has shown positive early results.

The company is hopeful that it's vaccine could be available to the public as early as January next year. Several firms across the world are in the race to develop a vaccine for the deadly virus which has claimed over 3 lakh lives worldwide.

CNN citing Dr. Tal Zaks, Moderna's chief medical officer reported that "if future studies go well, the company's vaccine could be available to the public as early as January".

"This is absolutely good news and news that we think many have been waiting for for quite some time," Zaks was quoted as saying.

Moderna, based in Cambridge, Massachusetts announced that the vaccine developed neutralising antibodies to the virus at levels reaching or exceeding the levels seen in people who have naturally recovered from Covid-19, reported CNN.

These will be followed by phase 2 trials and phase 3 trials, which Moderna plans to start in July.

President Donald Trump had on Friday said that that the United States will be able to deliver a few hundred million doses of COVID-19 vaccine, under 'Operation Warp Speed', by the end of this year.

"I have very recently seen early data from a clinical trial with a coronavirus vaccine and this data made me feel even more confident that we'll be able to deliver a few hundred million doses of vaccine by the end of 2020 and we will do the best we can," Trump had said at a press conference at the White House on Friday.

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