New York: India has contributed USD 800,000 to the United Nations as part of the initiative to enhance public outreach of the organisation in Hindi.Country's Deputy Permanent Representative to the United Nations, R Ravindra handed over a cheque for the UN project launched by India in 2018 to disseminate information about the UN to the Hindi-speaking population across the world."The Government of India has been making continuous efforts to expand the use of Hindi in the United Nations. As part of these efforts, 'Hindi @ UN' project, in collaboration with the UN Department of Public Information was launched in 2018 with an objective to enhance the public outreach of the United Nations in Hindi language, and to spread greater awareness about global issues among millions of Hindi-speaking people around the world," the UN said in a statement.India has been partnering with the UN Department of Global Communications (DGC) since 2018 by providing an extra-budgetary contribution to mainstream and consolidate news and multimedia content of DGC in Hindi, it added. Since 2018, the UN News in Hindi is disseminated through the UN's website and social media handles and a UN Facebook Hindi page, the statement read further."A UN News-Hindi audio bulletin (UN Radio) is released every week," it added.&nbsp;—ANI

 India has contributed USD 800,000 to the United Nations as part of the initiative to enhance public outreach of the organisation in Hindi.

India Contributed USD 800,000 To Promote Hindi At UN

New Delhi: India has recorded the "highest ever" annual FDI (foreign direct investment) inflow of USD 83.57 billion in 2021-22, the commerce and industry ministry said on Friday. In 2020-21, the inflow stood at USD 81.97 billion, it added. "India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector," the ministry said. "India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22," it noted.FDI equity inflow in manufacturing sectors has increased by 76 per cent in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion). In terms of top investor countries, Singapore is at the top with 27 per cent followed by the US (18 per cent) and Mauritius (16 per cent) during the last fiscal.Among sectors, computer software and hardware attracted maximum inflows. It was followed by the services sector and automobile industry, the ministry said. To further liberalise and simplify FDI policy for providing ease of doing business and attract investments, reforms have been undertaken recently across sectors, such as coal mining, contract manufacturing, digital media, single-brand retail trading, civil aviation, defence, insurance and telecom.—PTI

India has recorded the "highest ever" annual FDI (foreign direct investment) inflow of USD 83.57 billion in 2021-22, the commerce and industry ministry said on Friday.

FDI inflow hits all-time high of USD 83.57 bn in 2021-22

New Delhi: The country's exports rose by 21.1 per cent to USD 23.7 billion during May 1-21, on account of healthy growth in various sectors, such as petroleum products, engineering, and electronic goods, an official said. During the second week of this month (May 15-21), the exports grew by about 24 per cent to USD 8.03 billion, the official added. Petroleum products, engineering, and electronic goods' exports during May 1-21 expanded by 81.1 per cent, about 17 per cent and about 44 per cent, respectively. The total figure for May is likely to be realised by the commerce ministry in June. In April, the exports rose by 30.7 per cent to USD 40.19 billion. Imports during the month grew by 30.97 per cent to USD 60.3 billion.—PTI

The country's exports rose by 21.1 per cent to USD 23.7 billion during May 1-21, on account of healthy growth in various sectors, such as petroleum products, engineering, and electronic goods, an official said.

Exports rises 21 pc to USD 23.7 bn during May 1-21

New Delhi: The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices. At the interbank foreign exchange, the rupee opened at 77.65 against the American dollar, then lost ground to quote at 77.67, registering a fall of 13 paise from the last close. On Monday, the rupee settled at 77.54 against the US dollar. The rupee opened weaker against the dollar this Tuesday, tracking a surge in crude oil prices, said Sriram Iyer, Senior Research Analyst at Reliance Securities.Global oil benchmark Brent crude futures rose 0.91 per cent to $122.78 per barrel.Moreover, Asian and emerging market peers were trading weaker this morning and could weigh on sentiments, he noted.Investors will await the Q4 GDP and monthly fiscal deficit data for further cues, Iyer said.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 101.64.On the domestic equity market front, the 30-share Sensex was trading 366.85 points or 0.66 per cent lower at 55,558.89, while the broader NSE Nifty declined 98.90 points or 0.59 per cent to 16,562.50.Foreign institutional investors purchased shares worth Rs 502.08 crore on Monday, as per stock exchange data.—PTI

The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices.

Rupee slips 13 paise to 77.67/USD in early trade

Colombo: Sri Lanka's newly appointed Prime Minister Ranil Wickremesinghe, during a meeting with representatives from the Joint Chambers on Thursday, explained that the Government was targeting USD 5 billion for repayments and USD 1 billion to bolster the country's reserves. During the meeting, Wickremesinghe elaborated that discussions with the International Monetary Fund are proceeding and was hopeful that the negotiations would end this month.He further explained that the debt restructuring has already begun, following the appointment of financial and legal advisors. Sri Lanka's Prime Minister said that any bridging finance to help in alleviating the crisis is dependent on an agreement with the IMF being reached. Commenting further, Prime Minister Wickremesinghe stated that talks were continuing with donor nations. He added that relations with Japan had broken down, and it would take a while to repair those relations and regain their confidence. In regards to the medicine shortage, the Prime Minister explained that former Maldives President Mohamed Nasheed, who was appointed on May 19 to coordinate the relief efforts for the island nation, was leading the international appeal for urgently needed medical supplies.Addressing the issue of food scarcity, the Prime Minister explained that securing fertilizer and compiling a food security program were being given equal priority. He explained that in the event of any excess crops, those would be provided to vulnerable groups at a concessionary rate. Meanwhile, on Wednesday, Sri Lanka relaxed the import restrictions on 369 items in March and April this year.Sri Lankan Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, has issued a gazette notification on the relaxation, the Ministry said in a press statement. Earlier, those who wanted to import any of the 369 items had to obtain an import licence, and the decision to restrict the import was taken to reduce foreign currency spending on foreign products. Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts affecting a large number of the citizens, resulting in massive protests over the government's handling of the situation.The recession is attributed to foreign exchange shortages caused by a fall in tourism during the COVID-19 pandemic, as well as reckless economic policies, like the government's move last year to ban chemical fertilizers in a bid to make Sri Lanka's agriculture "100 per cent organic". Due to an acute shortage of foreign exchange, Sri Lanka recently defaulted on the entirety of its foreign debt amounting to about USD 51 billion.—ANI

Sri Lanka's newly appointed Prime Minister Ranil Wickremesinghe, during a meeting with representatives from the Joint Chambers on Thursday, explained that the Government was targeting USD 5 billion for repayments and USD 1 billion to bolster the country's reserves.

Sri Lanka targets USD 5 billion this year for repayments, says PM

Mumbai: The rupee slipped 13 paise to hit its intra-day record low of 77.81 against the US dollar on Thursday, weighed down by elevated crude oil prices and persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 77.74 against the American dollar, then fell further and touched its intra-day record low of 77.81, registering a fall of 13 paise from the last close.On Wednesday, the rupee recovered from its record low to close 10 paise higher at 77.68 against the American currency.The Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in the rise in prices that it saw continuing to hurt consumers in the near term. The rate hike comes on the back of a 40 bps increase by the RBI at an unscheduled meeting on May 4. Global oil benchmark Brent crude futures fell 0.12 percent to USD 123.43 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 percent higher at 102.55.On the domestic equity market front, the 30-share Sensex was trading 10.05 points or 0.02 percent higher at 54,902.54, while the broader NSE Nifty advanced 5.65 points or 0.03 percent to 16,361.90. Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,484.25 crore, as per stock exchange data.—PTI

The rupee slipped 13 paise to hit its intra-day record low of 77.81 against the US dollar on Thursday, weighed down by elevated crude oil prices and persistent foreign capital outflows.

Rupee hits intra-day record low of 77.81 against US dollar

Hong Kong: Under China's authoritarian regime, migration from Hong Kong has witnessed a sharp increase due to excessive government crackdowns on civil liberties.Hong Kong lost around 93,000 residents in 2020, followed by another 23,000 in 2021, marking the largest drop in Hong Kong's population since 2003 when severe acute respiratory syndrome (SARS) broke out across Hong Kong and mainland China, a media report said.Several residents of Hong Kong are vacating the city to start a new life abroad amid rising fear for their future.Hong Kong's recent emigration fair survey results showed that 79 per cent of the respondents plan to emigrate within two years, and 19 per cent intend to leave Hong Kong within six months.The 3rd "International Immigration and Property Expo" held on June 11 and 12 did a survey that collected 35,000 surveys from prospective visitors who registered online. The survey shows that the three most popular countries are the United Kingdom, Canada and Australia, accounting for 31 per cent, 22 per cent, and 21 per cent respectively. The survey also shows that families who are financially better off tend to emigrate more - 66 per cent of the respondents have a net worth over USD 1.02 million and 17 per cent have assets worth more than USD 6.37 million. Of those who plan to leave, 30 per cent are in the group with a monthly household income over USD 20,000. Lockdown and quarantine policies coupled with increasing Chinese interference caused many expatriates to return home to the United States, United Kingdom, Australia and other countries for good.Earlier, the city gained an average of 53,000 new residents per year from 2015-2019 which turned out to be roughly the exact number of people who departed Hong Kong during the first two weeks of March alone, media reports said, quoting the city's Immigration Department.For the past 60 years, Hong Kong's population has grown nearly every year, from some 3.2 million people in 1961 to 7.5 million in 2019, according to Hong Kong's Census and Statistics Department however in the last couple of years following the Chinese crackdowns people have thought about leaving, but in the last six months, there's been an absolute mass exodus.It is estimated that 60-70 per cent of people have left in the past six to 12 months, which includes people with businesses and family in Hong Kong as well as those who were once deeply committed to staying.The money leaving Hong Kong also signals the urgency with which people are fleeing.The majority of the people are relocating to the United Kingdom, with more than one lakh applying to move as of March.However, most people leaving are headed to Singapore, especially those working in finance, law, and recruitment as they people are attracted to the ease of business, family friendliness, tax incentives and open borders of Singapore.Asian Tigers are also seeing an uptick in moves from Hong Kong to Japan, South Korea, and Thailand. Dubai is also absorbing talent from Hong Kong, like Pepsi, Unilever and P&amp;G moved people out of Hong Kong into UAE, the media report stated. —ANI

 Under China's authoritarian regime, migration from Hong Kong has witnessed a sharp increase due to excessive government crackdowns on civil liberties.

Authoritarian Regime Of Xi Jinping Accountable For Mass Exodus From Hong Kong

Lucknow: Emphasising the MSME sector"s important role in making India a USD 5-trillion economy, Union Minister Bhanu Pratap Singh Verma on Tuesday said the government will remove all the barriers in credit flow to this sector.The Union Minister of State for MSME also said that the government was also committed to develop a better system of redressal and debt facilities.Verma was addressing a session - Making Indian MSMEs Globally Competitive through Trade, Finance &amp; Investment Facilitation - on the second day of Uttar Pradesh MSME Convention 2022.It was organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in association with the central government and the MSME ministry.The theme of this session was making the Micro, Small and Medium Enterprises (MSMEs) globally competitive through trade, finance and better investment facilities.The minister said the MSME sector is being developed as a new engine of growth in the country and modernised through innovation and will be more competitive.Verma said that the export business from the MSME sector is continuously increasing with the contribution to the country"s exports now touching almost 50 per cent."It also accounts for about 30 per cent of the country"s GDP. In such a situation, the role of our MSME sector becomes important in strengthening India"s position in the global trade," he said.The industry has to move with time and must focus on adopting new-age technology, including digitising systems, processes and operations in all aspects of the business to save time and expenses, he said.In his address at the session, Ravi Gupta, Co-Chairman of Assocham National Council on WTO Trade and Investment, stressed on MSMEs to keep their products eco-friendly and clean.He said that the small-scale industries of the state can play an important role in the economic development of the country.Since Uttar Pradesh is renowned for its leather, carpets, handicrafts, milk, and milk products, which are produced on a large scale, the state can play an important role in making them self-reliant, he added. —PTI

Emphasising the MSME sector"s important role in making India a USD 5-trillion economy, Union Minister Bhanu Pratap Singh Verma on Tuesday said the government will remove all the barriers in credit flow to this sector.

Govt Will Remove Barriers In Credit Flow To MSMEs: Verma

Colombo: At a time when Sri Lanka is facing an unprecedented economic fiasco, the country's finance ministry said that in the four months through April India has emerged as a top lender for the island nation.India's disbursements of foreign loans and grants from January 1 to April 30, 2022 were 376.9 USD million compared to China which was only 67.9 USD million.India has come to rescue Sri Lanka which is currently under a severe economic crisis. The island country is facing an acute shortage of foreign currency along with food and fuel crisis."In February 2022, India and Sri Lanka signed an agreement for a USD 500 million supply of petroleum products from the Indian Oil Company through a credit line, this was expanded by a further USD 200 million in April," the country's finance ministry report said."Whilst these credit lines have provided important supply channels, CeylonPetroleum Corporation (CPC) continues to face significant difficulties in procuring adequate fuel largely due to limitations in the availability of foreign exchange and external financing challenges," it added.Sri Lankan Government has made arrangements to mobilize foreign financing of USD 1,550.5 million by entering into 4 agreements with foreign development partners and lending agencies from 1st January to 30th April 2022, to support the public investment program. One agreement was of USD 1,500.0 million of Export credit Facilities extended by the EXIM Bank and State bank of India for the import of essential commodities. As of April 30, 2022, the total undisbursed balance of foreign financing available from already committed loans that are to be utilized in the next 3-5 years, was USD 8,054.3 million.India has the majority of the balance to be disbursed followed by, the Asian Development Bank, World Bank, China, and Japan respectively. ADB came in as the second largest lender with USD 359.6 million being disbursed in the first four months, followed by the World Bank with USD 67.3 million.India also emerged as the first responder under Prime Minister Narendra Modi's neighbourhood first policy when Sri Lanka was left alone by its so-called benefactors for funding support. Despite wide expectations, China's unwillingness or the reluctance to come to the rescue of Sri Lanka when it needed the most raised many eyebrows.On the other side, under the 'neighbourhood first policy', India has responded with urgency to the government of Sri Lanka's request for assistance in overcoming hardships and will enhance economic linkages between the two countries be it through infrastructure connectivity and renewable energy. In line with its "neighbourhood first" policy, India has been highly active to help Sri Lanka during its economic crisis.&nbsp;—ANI

 At a time when Sri Lanka is facing an unprecedented economic fiasco, the country's finance ministry said that in the four months through April India has emerged as a top lender for the island nation.

Rescuing Sri Lanka: India Emerges As Top Lender, ADB Second

New Delhi: Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to HDFC Securities.In the previous trade, the precious metal finished at Rs 50,182 per 10 grams.Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. "Spot gold prices for 24-carat gold in Delhi were up by Rs 20 per 10 grams supported by weak COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.In the international market, gold was quoting lower at USD 1,708 per ounce while silver was flat at USD 18.80 per ounce. —PTI

Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to HDFC Securities.

Gold marginally higher; silver jumps Rs 35

New Delhi: India has extended 8 Lines of Credit (LOCs) to Sri Lanka amounting to USD 1850.64 million in the past 10 years, External Affairs Minister (EAM) S Jaishankar said on Friday."Government of India has extended 08 Lines of Credit (LOCs) to Sri Lanka amounting to USD 1850.64 million in sectors including railways, infrastructure, defence, renewable energy, petroleum and fertilizers in the past 10 years," EAM Jaishankar said in a written reply to question put by DMK Lok Sabha MP S Ramalingam.India continues to assist Sri Lanka in its economic development to overcome its economic challenges under its 'Neighbourhood First' policy, EAM said in response to the question of short-term and long-term loans granted by India to Sri Lanka. "Under its 'Neighbourhood First' policy, the Government is committed to developing friendly and mutually beneficial relations with all its neighbours. In line with this policy, India continues to assist Sri Lanka in its economic development as also support it in overcoming its economic challenges," he said."In January 2022, India extended a USD 400 million currency swap to Sri Lanka under the SAARC Framework and deferred successive Asian Clearing Union (A.C.U.) settlements till July 6, 2022. A Line of Credit of US$ 500 million was extended to Sri Lanka for importing fuel from India," the minister added.Jaishankar informed that India has extended a credit facility of US$ 1 billion for the procurement of food, medicines and other essential items from India.The minister further explained how humanitarian assistance was also provided to Sri Lanka by gifting essential medicines worth about INR 6 crores, 15,000 litres of kerosene oil and USD 55 million LoC for procurement of Urea fertilizer. "Government of Tamil Nadu has contributed rice, milk powder and medicines worth USD 16 million, as part of the larger Indian assistance effort," Jaishankar said."Development assistance under Lines of Credit (LoCs) is extended in accordance with the Indian Development and Economic Assistance Scheme (IDEAS) guidelines of the Government of India. In accordance with these guidelines, the terms of these soft loans are transparent, with low rate of interest, a moratorium in principal repayment, long repayment period and in-built flexibility," he wrote.On Thursday, India reiterated its stance to stand by the people of Sri Lanka at the time of crisis, saying that India has been at forefront of extending economic assistance to Sri Lanka and will continue to do so."India has been at forefront of extending economic assistance to Sri Lanka as per what they require and we are one of the countries that have provided the maximum amount of assistance at the time of need. We will continue to stand by the people of Sri Lanka in whatever manner we can," MEA spokesperson Arindam Bagchi said during a media briefing. —ANI

India has extended 8 Lines of Credit (LOCs) to Sri Lanka amounting to USD 1850.64 million in the past 10 years, External Affairs Minister (EAM) S Jaishankar said on Friday.

India Extended Line Of Credit Worth USD 1.85 Bn To Sri Lanka In 10 Years: Jaishankar

Colombo: Sri Lanka, on Monday, received the first tranche of food assistance valued at USD 1.5 million from the government of Japan, which was provided through the United Nations World Food Programme (WFP).
The donation was a part of food assistance pledged by the Japan government earlier this year, to Sri Lanka, where more than 6 million people - nearly 30 percent of the population, are facing a worsening food crisis.
"The first tranche of food aid pledged by the Japanese government earlier this year, totaling USD1.5 million, was delivered today to the Ministry of Trade, Commerce and Food Security through the United Nations World Food Program," tweeted WFP Sri Lanka.
Ambassador of Japan to Sri Lanka, Mizukoshi Hideaki handed over the donation to Nalin Fernando, Minister of Trade, Commerce and Food Security, in the presence of Abdur Rahim Siddiqui, WFP Representative, and Country Director, during a ceremony held at the Ministry of Trade, Commerce and Food Security.
This first tranche forms part of the donation consisting of rice, lentils, and oil, which will be distributed by WFP to approximately 15,000 people in both urban and rural areas and 380,000 school children, an official statement from World Food Programme (WFP) said. Ambassador of Japan to Sri Lanka, Mizukoshi Hideaki said, "It is our great honour that we are able to handover the first tranche of essential food supplies today with the rapid procurement of WFP, which will be delivered to vulnerable families and children across the island who are facing extreme hardship, amidst prevailing food shortages and soaring food prices during this unprecedented economic crisis."
"We sincerely hope that this humanitarian assistance will provide relief to all the people in need and help them meet their daily nutritional requirements," he added.
WFP Representative, Siddiqui thanked Japan government for its contribution in the hour of need and said that it was one of the first to pledge support to WFP's appeal.
"I thank the people of Japan for this timely contribution. The Japanese Government was one of the first to pledge support to WFP's appeal. The donation will go a long way in addressing Sri Lanka's growing food insecurity while shortages of food and other essentials and skyrocketing prices continue to impact millions of people's ability to maintain an adequate and nutritious diet," Siddiqui said.
A recent survey by WFP and FAO indicates that many of the households - over 60 percent - are resorting to coping mechanisms, such as reducing portion sizes and eating less nutritious food, which could aggravate the already-high malnutrition rates among women and children.
In response, WFP is mobilizing funds and support to provide emergency assistance to 3.4 million people, including 1.4 million people who are in dire need of emergency food assistance, through food, cash or voucher assistance as well as one million schoolchildren and one million pregnant and breastfeeding women by supporting the existing national social safety net programmes. The country is ranked fifth among the 10 countries with the highest food price inflation in the world, according to the latest World Bank assessment. As of July, Sri Lanka had been experiencing significant shortages in the domestic food supply.
The World Bank said trade policy actions on food and fertilizers have surged since the beginning of the war in Ukraine. Countries actively used trade policy to respond to domestic needs when faced with potential food shortages at the beginning of the COVID-19 pandemic.
Agricultural production in the country decreased by 40 per cent to 50 per cent because of fertilizer shortages, and there is a lack of foreign exchange to purchase food imports.
UNICEF Regional Director for South Asia, George Laryea-Adjei recently warned that staple foods have become unaffordable in Sri Lanka as the island nation continues to suffer its worst financial slump since its independence.
In a statement issued on Friday, Laryea-Adjei also pointed out that severe malnutrition in crisis-wracked Sri Lanka was already among the highest in the region. The alert from the UN Children's Fund comes as families continue to skip regular meals as staple foods become unaffordable.
UNICEF said that Sri Lanka's emergency is a warning to other South Asian countries of the risk of not preparing for economic hardship. —ANI

Sri Lanka, on Monday, received the first tranche of food assistance valued at USD 1.5 million from the government of Japan, which was provided through the United Nations World Food Programme (WFP).

Japan Provides Food Assistance Worth USD 1.5 Million To Sri Lanka

Washington: Five years after it was commissioned into service, the USS Gerald R Ford will go on its first deployment next week after years of delay.
USS Gerald R Ford is the American Navy's newest and most advanced class of aircraft carriers, which cost over USD 13 billion, and will soon get underway on a short deployment in the Atlantic, reported CBS News.
During the deployment, the carrier will exercise with allies across the Atlantic, allowing the Navy to understand further the new technologies the Ford incorporates, Vice Adm Daniel Dwyer, the commander of the 2nd Fleet, told reporters on a call earlier this week.
Dwyer said the carrier has dozens of new technologies and the exercises on this deployment will help the Navy "truly understand the new capabilities that this first-in-class carrier brings with it." The short deployment, according to Dwyer, will include thousands of personnel from nine nations, 17 ships, one submarine, and 60 US Navy aircraft, reported CBS News.
This deployment is a "service retained deployment" which means the carrier remains under the authority of the chief of Naval Operations instead of under geographic combatant commanders.
Dwyer said the concept of a "service retained deployment" is not new, and previous first-in-class carriers USS Nimitz and USS Enterprise took similar opportunities to exercise with allies and test out capabilities before embarking on a global force management deployment.
The Ford is expected to go on a longer deployment next year, reported CBS News.
The Ford is the first carrier to use an electromagnetic launch system (EMALS) to launch aircraft instead of a traditional steam-powered catapult. The new system enables the Navy to substantially increase the number of aircraft -- by 25 per cent -- that can be launched on any given day. Work on the carrier's advanced electromagnetic weapons elevators used to move missiles and bombs to the flight deck was plagued by technical problems for years before it was finally completed in December 2021, reported CBS News. The carrier was procured with an estimated cost of USD 13 billion during the Bush administration, commissioned in 2017 under the Trump administration, and will soon embark on deployment during the Biden administration. The Ford is the lead carrier in the Navy's Ford class of aircraft carriers, and the next carrier in its class, the USS John F Kennedy is expected to be delivered to the Navy in 2024, reported CBS News. —ANI

Five years after it was commissioned into service, the USS Gerald R Ford will go on its first deployment next week after years of delay.

American Navy Supercarrier USS Gerald R Ford Set To Sail For First Time Next Week

Vienna (The Hawk): A side-event on ‘Achieving functional biodiversity in the Danube-Carpathian Region by mainstreaming ecological connectivity – how to make it happen’ will be held on 18 October from 10:00-11:00 (CET) within the framework of the 11th EUSDR Annual Forum. The event will highlight the importance of ecological connectivity and that safeguarding it requires the cooperation of many sectors such as nature conservation, water management, transport and energy. We will hear the perspective of policy makers on how to rise to this exceptional challenge. The event will be held online and registration is open to all interested participants.
Over the past decades, economic development in the Danube Carpathian region has taken a heavy toll on nature. Construction of transport infrastructure, settlements and industrial sites, and intensive agricultural, forestry and water management practices have fragmented the landscape and natural habitats, curtailing the ability of wildlife to move, feed, seek shelter and reproduce on land and in water. Yet this trajectory is not set in stone: with a more integrated way of planning and the political will, people and nature can thrive side-by-side.
This is why key regional actors, the EU Strategy for the Danube Region (EUSDR) ‘Water Quality’ Priority Area (PA) 4, ‘Environmental Risks’ PA 5, ‘Biodiversity, Landscapes, Quality of Air and Soils’ PA 6, the Carpathian Convention, and the International Commission for the Protection of the Danube River (ICPDR) endorsed the Joint Declaration ‘Achieving functional biodiversity in the Danube-Carpathian Region by mainstreaming ecological connectivity’ of July 2022, thereby committing themselves to action. However, without the support of higher-level policy and decision-makers, positive change is not possible.
At the event on 18. October, leaders of the Carpathian Convention and the International Commission for the Protection of the Danube River, EUSDR National Coordinators and environmental EUSDR Priority Areas will provide their perspectives on why ecological connectivity is so important for both nature and people, how it can be safeguarded in the Danube-Carpathian context and how this links to EU policies. The discussion will then be opened to the audience.

A side-event on ‘Achieving functional biodiversity in the Danube-Carpathian Region by mainstreaming ecological connectivity – how to make it happen’ will be held on 18 October from 10:00-11:00 (CET) within the framework of the 11th EUSDR Annual Forum.

Side-Event On Ecological Connectivity At EUSDR Annual Forum

Washington: After the 15-years of investigation, the US authorities returned 307 antiquities that were stolen by multiple smaller trafficking networks to India, valued at nearly 4 million Dollars, according to a press statement released on Monday.
Manhattan District Attorney Alvin L Bragg Jr on Monday announced that they are returning 307 antiquities valued at nearly USD 4 million to the people of India and the majority of them were seized from disgraced art dealer Subhash Kapoor.
Subhas Kapoor is a looter, who had helped to traffic the items from Afghanistan, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Sri Lanka, Thailand, and other countries. According to the statement, "Five of the antiquities were seized according to the Office's investigation into Nancy Wiener, and one according to an investigation into Nayef Homsi."
All the antiquities were returned during a repatriation ceremony at the Indian Consulate in New York attended by India's Consul General Randhir Jaiswal, and US Homeland Security Investigations ("HSI") Acting Deputy Special Agent-in-Charge, Tom Lau.
"We are proud to return hundreds of stunning pieces to the people of India," the press statement quoted District Attorney Bragg as saying.
"These antiquities were stolen by multiple complex and sophisticated trafficking rings - the leaders of which showed no regard for the cultural or historical significance of these objects. Tracking down these antiquities would not be possible without the collaboration of our law enforcement partners at HSI and the outstanding work of our world-class investigators," he added.
Homeland Security Investigations (HSI) New York Acting Special Agent in Charge Michael Alfonso said, "Today we are proud to join our partners from the Manhattan District Attorney's Office to return an incredible 307 stolen works of art and antiquities to their rightful home in India. This repatriation is the result of a globe-spanning, fifteen-year investigation whereas the investigative team chased leads, followed the money and ultimately seized these pieces, ensuring their return to the people of India," He further added that HSI will continue to investigate artefacts with little or no provenance, or of questionable origin, and work with domestic and international partners to return these priceless pieces of history to their rightful homes, the stement reads.
The District Attorney's Antiquities Trafficking Unit, along with law enforcement partners at Homeland Security Investigations, have investigated Kapoor and his co-conspirators for the illegal looting, exportation, and sale of artefacts from numerous countries all over the world, for over a decade.
Among the pieces being returned is the Arch Parikara, crafted from marble and valued at approximately USD 85,000.
The Arch Parikara first surfaced in photographs depicting antiquity in a dirty, pre-restoration condition. These photographs, along with dozens of others depicting antiquities lying in the grass or on the ground, were sent to Kapoor by a supplier of illicit in India. The piece was smuggled out of India and into New York in May 2002, the statement reads. Thereafter, Kapoor laundered the Arch Parikara to the Nathan Rubin - Ida Ladd Family Foundation, who donated the piece to the Yale University Art Gallery in 2007, the statement added. In 2022 alone, the Office has returned 682 antiquities, valued at over USD 84 million to 13 countries. Since its founding, the Antiquities Trafficking Unit has returned nearly 2,200 antiquities, valued at over USD 160 million, to 22 countries. —ANI

After the 15-years of investigation, the US authorities returned 307 antiquities that were stolen by multiple smaller trafficking networks to India, valued at nearly 4 million Dollars, according to a press statement released on Monday.

US Returns 307 Stolen Antiquities, Worth Nearly USD 4 Million, To India

Islamabad: Pakistan has flagged prolonged delays in five of its crucial power and rail projects with China during an important meeting discussing China-Pakistan Economic Corridor (CPEC) projects, media reports said.
A meeting of CPEC's 11th Joint Cooperation Committee (JCC) took place on Thursday where Pakistan urged China to put USD 18.5 billion worth of five projects on the fast track.
Pakistan Planning Minister Ahsan Iqbal expressed fears that any further delay would collapse the rail system in the country in one year and delay 3,100 megawatts of electricity generation, reported The Express Tribune. However, there was no announcement made following the meeting that discussed the "missed opportunities" and "prolonged delays" in the execution of schemes that were agreed on eight years ago.
The five projects that Islamabad has requested China to fast track the work on include -- USD 10 billion Mainline-I railway project, USD 1.2 billion Karachi Circular Railway project, USD 1.6 billion Azad Pattan hydropower project, USD 2.5 billion Kohala power project and USD 3 billion Thar Block-I coal project on priority, reported The Express Tribune quoting officials who attended the meeting as saying.
"These projects are facing years of delay due to obstacles from both sides," the official said.
Pakistan asked China to consider Islamabad's request for the relocation of USD 584 million Gwadar power plant. The planning minister also mooted Pakistan's failure to reap the benefits of the Chinese experience to develop its Special Economic Zones (SEZs).
"The government has not signed minutes of the 11th JCC and a formal announcement about the outcome will be made during the visit of Prime Minister Shehbaz Sharif to China," said the minister. "The PM will go on a two-day visit on November 1."
At least 28 Chinese projects worth USD 18.8 billion are wrapped up however still USD 34 billion worth of schemes are yet to be completed. "If we don't start the ML-I (Mainline-I railway project) immediately, the mainline of Pakistan Railways will likely collapse within one year," Iqbal told the National Development and Reform Commission (NDRC) vice chairman.
It is pertinent to note that since China took the ML-I project in the CPEC fold, Pakistan Railways had not invested in the project. The discussion over issues faced by the Chinese independent power producers in CPEC projects was also the key takeaway of the meeting. The minister lamented "prolonged delays" in the execution of three projects having total generation capacity of 3,100MW. He urged China to ensure early finalisation of their financing deals, the media portal added. —ANI

 Pakistan has flagged prolonged delays in five of its crucial power and rail projects with China during an important meeting discussing China-Pakistan Economic Corridor (CPEC) projects, media reports said.

Pakistan Flags 'Prolonged Delays' In Projects With China

Washington: The United States committed to USD 15 billion worth of two-way trade deals with several countries in Africa during a summit in Washington this week, the White House said on Wednesday.
"At today's US-Africa Business Forum, President (Joe) Biden announced over USD 15 billion in two-way trade and investment commitments, deals, and partnerships that advance key priorities, including sustainable energy, health systems, agribusiness, digital connectivity, infrastructure, and finance," the White House said in a press release.
"US goods and services traded with Africa totalled USD 83.6 billion in 2021. These investments and programs are in support of the umbrella initiatives PGII, Prosper Africa and Power Africa," the release added.
Since 2021, the US government said that it has helped close more than 800 two-way trade and investment deals across 47 African countries for a total estimated value of over USD 18 billion, and the US private sector has closed investment deals in Africa valued at USD 8.6 billion.
President Joe Biden said the US has "known for a long time that Africa's success and prosperity is essential to ensuring a better future for all of us, not just for Africa." Citing the challenges pertaining to the pandemic, food prices and climate change, Biden said, "We can't solve any of these challenges without African leadership at the table -- and I'm not trying to be nice; that's a fact -- African ideas and innovation helping to shape the solutions and Africa population contributing to every step."
On Monday, US Secretary of State Antony Blinken signed a memorandum of understanding with representatives from Zambia and the Democratic Republic of the Congo on the development of the nations' electric vehicle battery value chains and advancing multilateral goals on critical mineral supply.
Biden is hosting nearly 50 African leaders in Washington this week as he seeks to improve the United States' ties with African countries amid concerns that China has been increasing its presence in the region. —ANI

 The United States committed to USD 15 billion worth of two-way trade deals with several countries in Africa during a summit in Washington this week, the White House said on Wednesday.

US, Africa Seal USD 15 Billion In Trade Investments During Washington Summit

Roorkee (The Hawk): Indian Institute of Technology Roorkee (IIT Roorkee) researchers led by Prof. Soumitra Satapathi from the Department of Physics have successfully developed high-quality perovskite solar cells.
The prototype has shown a stabilised power conversion efficiency of 17.05%, which is one of the highest reported PCEs for quasi-two-dimensional (2D) perovskite. The modified perovskite solar cell leads to the optimum phase distribution, enlarged grain size, and improved crystallinity. This finding offers new opportunities and the development of highly efficient perovskite solar cells with long-term operational stability.
Among all the renewable energy sources, the sun's energy is considered the most sustainable due to its ample availability on the earth’s surface. And just over a decade ago, perovskite solar cells established themselves as the next generation of photovoltaic technology due to their comparably higher PCE and cheaper and simpler manufacturing processes than silicon solar cells. Several methods and processes have been developed based on the potential to produce high-quality perovskite solar cells.
The quasi-2D layered perovskites have gained significant attention recently for their exceptional optoelectronic properties, structural diversity, and excellent ambient stability. These additives can effectively control the perovskite growth kinetics and exhibit an efficient role as passivating agents for defect annihilation. This has motivated Prof. Satapathi and his team, including Ms. Yukta, Research Scholar, IIT Roorkee, to take up this research to develop low-cost and highly efficient perovskite solar cells.
The research article for the finding has been published in journal ACS Applied Energy Materials&nbsp;
Talking about the significance of Perovskite Solar Cells and its future, Prof. Soumitra Satapathi, Department of Physics, IIT Roorkee, said, “Perovskite solar cells have demonstrated competitive power conversion efficiencies with potential for higher performance, but their stability is limited compared to leading alternatives. Our main aim is to optimize the efficiency and to reduce the cost of manufacturing for Perovskite solar Cells as much as possible.”
Prof. Soumitra Satapathi further added, “The perovskite solar cell developed by us are low cost and can be used as an alternative for silicon solar cells. This is also the first prototype solar cells exclusively developed in IIT Roorkee.”
Prof Akshay Dvivedi, Dean of Sponsored Research and Industrial Consultancy, IIT Roorkee, expressed his happiness that researchers from IIT Roorkee are developing technologies in the most recent areas. He mentioned that the current market size of PSC is less than 1 USD which is expected to grow to USD 7 billion-plus by 2030, where the work of Prof Satapathi will help in industry growth.
Prof. K. K. Pant, Director IIT Roorkee, said, “There is a growing demand worldwide for the transition towards a carbon-neutral economy. During the last decade, perovskite solar cells (PSC) have emerged as a potential low-cost photovoltaics technology. The PSCs developed at IIT Roorkee is an important step towards developing efficient and stable solar cells.”
Prof Pant added that this technological development would boost self-reliance in India in the field of renewable energy. He mentioned that Institute encourages the development of such technologies, which have the potential of not only commercialization but also help in achieving national priorities.

Indian Institute of Technology Roorkee (IIT Roorkee) researchers led by Prof. Soumitra Satapathi from the Department of Physics have successfully developed high-quality perovskite solar cells.

IIT Roorkee Researchers Develop Efficient And Low-Cost Perovskite Solar Cells

New Delhi: On Friday, the rupee finished at an all-time high of 81.97 to the dollar, thanks to the excellent performance of both international and domestic stock markets.
Forex dealers reported that investor confidence was increased by the good PMI services data.
The local unit opened at 82.28 against the U.S. dollar in the interbank foreign exchange market, and it closed at 81.97, a gain of 63 paise from its previous close of 82.60.—Inputs from Agencies

On Friday, the rupee finished at an all-time high of 81.97 to the dollar, thanks to the excellent performance of both international and domestic stock markets.

Rupee rises 63 paise to settle at 81.97 against USD

Washington: If Washington is keen on a secure future at home and in Asia, it must treat India's G20 presidency as a wake-up call, writes Georgia Leatherdale-Gilholy in The National Interest.
India is the world's largest democracy, and although its strain of nationalism may be at odds with many Western sensibilities, the foundations for a mutually beneficial relationship are far more plentiful than with China, the state the West has tiptoed into trade reliance on for decades.
The G20 includes several Asian countries, and India's presidency will of course provide a platform for regional cooperation and collaboration with US-aligned states such as Japan and South Korea, said Gilholy. But while there is constant establishment fanfare over established alliances in East Asia, the reality is that the opportunity of such states pales in comparison to what India can offer going forward. It is time the United States looked toward better building new bridges than simply preserving old ones.
With its recently hiked annual military budget of approximately USD 72.6 billion dollars and battle-hardened armed forces, India is the only serious contender to China in South and Southeast Asia, reported The National Interest.
Border standoffs in Doklam (2017) and Galwan (2020) are just two recent cases in which China has sought to push its luck as regards India's sovereignty, but has been forced to back down.
As former Trump administration defense official Elbridge Colby notes, India is the "rock of the anti-hegemonic coalition in S Asia," and consequently the United States should be doing what it can strengthen it.
Moreover, India is also keen to launch a Sustainable Development Goals stimulus package to provide low and middle-income governments with a fresh injection of investment support alongside offering debt relief and restructuring.
New Delhi's plans to use its G20 presidency to promote renewable energy and action on climate is also promising, said Gilholy.
Insiders have suggested that India will attempt to forge an expert group to tackle World Bank reforms in order to provide climate aid to developing economies. While the details of such plans are unconfirmed, they may be a promising step toward countering the exploitative debt diplomacy of China's sprawling Belt and Road Initiative.
India has already gone some way toward positioning itself as a voice for the Global South, while China continues to block solutions to the debt crisis crippling the developing world, reported The National Interest. Moreover, its ascendancy to the G20 presidency at the start of 2023 has come at a crucial time for the country and the world as it continues to reel from the financial impact of the coronavirus response, itself a knock-on effect of Beijing's malfeasance.
India is the world's fifth-largest economy (and third-largest by GP purchasing parity), and unlike China, it is forecast to continue to expand into the near future. India is fast overtaking China in terms of population and will likely become the world's third-largest economy and the "pharmacy of the world" before the end of the decade, said Gilholy.
G20 is the largest multilateral platform in operation, with its member states representing more than 85 per cent of the world's GDP and two-thirds of the human population and holding a key role in managing talks over future international economic growth. —ANI

If Washington is keen on a secure future at home and in Asia, it must treat India's G20 presidency as a wake-up call, writes Georgia Leatherdale-Gilholy in The National Interest.

The Hawk

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India Contributed USD 800,000 To Promote Hindi At UN

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India Contributed USD 800,000 To Promote Hindi At UN

Inam Ansari

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