Home Blog Page 184

Why the President of India Should Inaugurate the New Parliament Building

Shasi Kumar
-
0
Why the President of India Should Inaugurate the New Parliament Building

Why the President of India Should Inaugurate the New Parliament Building

NEW DELHI (TW)- In response to a statement issued by the Lok Sabha Secretariat on May 18 that Prime Minister Narendra Modi will inaugurate the new parliament building symbolising the spirit of a self-reliant India (Atmanirbhar Bharat) on May 28, several leaders of opposition parties including Rahul Gandhi have demanded that instead of the prime minister, President of India Droupadi Murmu should do the honour of inaugurating it. May 28 is the birth anniversary of V.D. Savarkar, who submitted multiple mercy petitions to British authorities for his release from the Cellular Jail in the Andamans, and the Congress has sharply attacked the Modi government for choosing this date for the inauguration and described it as a “complete insult” to freedom fighters and their legacy.

While RJD leader Manoj Jha asked in his tweet, “Shouldn’t the honorable Rashtrapati be inaugurating the new ‘Sansad Bhavan’?”, CPI’s D. Raja in his tweet sharply observed, “Obsession with self-image and cameras trumps decency and norms when it comes to Modi Ji.” Stating that, “PM leads the executive organ of the State and Parliament is the legislative organ” he opined that, “It would have been appropriate for Smt. Droupadi Murmu as Head of the State to inaugurate the new Parliament.”

AIMIM chief Asaduddin Owaisi had objected to Modi inaugurating the Parliament building by saying, “We have separation of powers and Hon’ble Lok Sabha Speaker and Rajya Sabha Chair could have inaugurated (it).” He also sarcastically observed, “It’s made with public money, why is PM behaving like his ‘friends’ have sponsored it from their private funds.”

Congress head Mallikarjun Kharge said the president “alone represents government, opposition, and every citizen alike” and “The Modi Govt has repeatedly disrespected propriety.”

READ MORE : India’s Hosting of G20 Meeting in Kashmir Raises Questions of International Acceptance

President along with Rajya Sabha and Lok Sabha constitute the parliament

The views of opposition party leaders that the president and not prime minister should inaugurate the new parliament building makes eminent sense as that is consistent with Article 79 of the Constitution, defining the constitution of parliament: “There shall be a Parliament for the Union which shall consist of the President and two Houses to be known respectively as the Council of States and the House of the People.”

So when the Constitution itself provides that the parliament consists of the president of India and the two Houses of the apex legislature, the Rajya Sabha and Lok Sabha, how is it that the prime minister, who does not form part of the constitutionally ordained definition of what constitutes parliament, can inaugurate the new parliament building?

There are other provisions prescribed in the Constitution that the president may address either House or both Houses assembled together (Article 86) and at the commencement of the first session after each general election to the House of the People and at the commencement of the first session of each year the president shall address both Houses assembled together and inform parliament of the causes of its summons (Article 87). Besides, it is required by the Constitution that no Bill passed by both the Houses of Parliament can become an Act without the assent of the president (Article 111).

In the legislative domain, the president and parliament are, thus, closely woven together by elaborate provisions enshrined in the Constitution. Therefore, these factors constitute the categorical imperative for the president to inaugurate the new parliament building.

The president, as the head of the State and Republic, occupies an exalted position far surpassing the position of the prime minister who is only the head of the executive, which is only limited in scope vis-a-vis the State. The president takes oath to preserve, protect and defend the Constitution and be above all partisan considerations, unlike the office prime minister, and is always looked up to by all political parties, be it of the ruling or opposition camp, to defend republican and constitutional values.

Lessons from the laying of foundation of Parliament House Building Annexe and its inauguration

Another cogent reason why President Murmu and not Prime Minister Modi should inaugurate the new parliament building can be traced to a past precedent associated with the laying of the foundation of the Parliament House Annexe building and its inauguration during 1970 and 1975.

According to the Lok Sabha Secretariat publication, “Parliament House Estate” brought out in 2019, while the foundation of the annexe building was laid on August 3, 1970 by V.V. Giri, then president, it was inaugurated on October 24, 1975 by Prime Minister Indira Gandhi.

This example offers a vital lesson – that neither the president nor prime minister appropriated both the foundation laying and inaugural ceremonies. As Modi laid the foundation stone of the new parliament building and participated in the Bhoomi Pujan ceremony on December 10, 2020, his involvement in its inauguration would mean that he wants to monopolise the honour of doing both programmes. It is contrary to the norms of propriety and proportionality. Therefore, in all fairness Murmu should inaugurate the new parliament.

President K.R. Narayanan inaugurated parliament library building

Just 20 one years ago in 2002, when the newly constructed Sansadiya Gyanpeeth, the Parliament Library Building, was ready for inauguration, President of India K.R. Narayanan was invited to inaugurate it and he did so on May 7 that year. If President Narayanan was requested to inaugurate the new parliament library, then the new parliament building should be inaugurated by none other than President Murmu. By following that example set by Narayanan, the Lok Sabha Secretariat, through the speaker of the Lok Sabha, should extend an invitation to President Murmu for this purpose.

President Kovind was excluded from inauguration of war memorial by Modi

In the past, President Ramnath Kovind, with his status defined by Article 53 of the Constitution as the Supreme Commander of the defence forces, was not involved in Modi’s programme when he inaugurated the National War Memorial in New Delhi on February 25, 2019. It is well known that it is the president and not the prime minister who confers medals and battle honours on defence personnel, at investiture ceremonies conducted in Rashtrapati Bhavan.

During the march past along Raj Path on Republic Day every year, the president receives the salute from those who participate in the parade and confers battle honours like the Param Vir Chakra and the Ashok Chakra to defence personnel for their excellence in defending our nation. Yet tragically, the president was excluded from the inauguration of the National War Memorial, instituted to celebrate the glorious tradition of service and sacrifice of the defence forces. That event required mature handling and the disrespect shown to the president could have been avoided by asking Kovind to inaugurate the memorial.

The egregious blunder committed in 2019 by excluding the president should not be repeated while inaugurating the new parliament building. It is President Murmu who should lead the country in inaugurating it.

S.N. Sahu served as Officer on Special Duty to President of India K R Narayanan.

Disclaimer: This report is auto generated from the THEWIRE. Diplomat Times holds no responsibility for its content.

 

India’s Hosting of G20 Meeting in Kashmir Raises Questions of International Acceptance

Roshan Bilung
-
0
India’s Hosting of G20 Meeting in Kashmir Raises Questions of International Acceptance

India’s Hosting of G20 Meeting in Kashmir Raises Questions of International Acceptance

SRINAGAR CNN — India has defended its decision to host a Group of 20 (G20) meeting in the Himalayan territory of Jammu and Kashmir, despite criticism from rights groups and expected boycotts from a handful of countries.

Srinagar, the summer capital of Jammu and Kashmir, is scheduled to host a tourism meeting for G20 members this week, in a move the Indian government has marketed as an opportunity to showcase the region’s culture.

It is the first international event of this scale to be held in the disputed, Muslim-majority region since India revoked its special status and split the former state into two federal territories in 2019. Ladakh, which was previously part of the state, was separated and turned into another standalone territory.

Ladakh is a disputed region along the Line of Actual Control, a de-facto border between India and China. Both countries claim parts of it.

China on Friday said it would not attend the meeting, citing its opposition “to holding any kind of G20 meetings in disputed territory,” according to Foreign Ministry spokesperson Wang Wenbin.

Since a clash involving hand-to-hand fighting in 2020 claimed the lives of at least 20 Indian and four Chinese soldiers, both sides have deployed thousands of troops to the area, where they remain in what appears to be a semi-permanent stand-off.

READ MORE : US Secretary of State Antony Blinken will travel to Delhi next week, to participate in the G20 Foreign Ministers’ Meeting

Tensions along the de factor border have been simmering for more than 60 years and have spilled over into war before. In 1962 a month-long conflict ended in a Chinese victory and India losing thousands of square miles of territory.

Other countries, including Saudi Arabia, Egypt and Turkey, were expected to boycott the event.

Kashmir is one of the world’s most dangerous flashpoints. Claimed in its entirety by both India and Pakistan, the mountainous region has been the epicenter for more than 70 years of an often violent territorial struggle between the nuclear-armed neighbors. A de facto border called the Line of Control divides it between New Delhi and Islamabad.

India said the move to revoke Kashmir’s semi-autonomy was to ensure the nation’s laws were equal for all citizens and to increase economic development in the region, as well as to end separatism and terrorism it alleged was aided and abetted by Pakistan.

On Saturday, India’s tourism secretary, Arvind Singh, said the meeting will not only to “showcase (Kashmir’s) potential for tourism” but also “signal globally the restoration of stability and normalcy in the region.”

In April, Pakistan, which is not a G20 member, criticized India’s decision to hold the tourism meeting in Kashmir, calling it an “irresponsible” move.

Last week, Fernand de Varennes, the United Nations Special Rapporteur on Minority Issues, said the Indian government was “seeking to normalize what some have described as a military operation by instrumentalizing a G20 meeting” in a region where fears of human rights violations and violence are rife.

In a statement on Twitter, India’s permanent mission to Geneva rejected de Varennes’s criticism, calling the allegations “baseless and unwarranted.”

Earlier this month, India said the G20 meeting in Srinagar “aims to strengthen economic growth, preserve cultural heritage, and promote sustainable development of the region.”

India, the world’s largest democracy with a population of more than 1.4 billion, has been keen to position itself as a leader of emerging and developing nations since it assumed the G20 presidency.

Arguably India’s most celebrated event of the year, the G20 has been heavily promoted domestically, with sprawling billboards featuring Modi’s face plastered across the country.

Modi’s political allies were keen to push his international credentials, portraying him as a key player in the global order.

By Rhea Mogul

Disclaimer: This report is auto generated from the CNN. Diplomat Times holds no responsibility for its content.

South Korea, Germany to sign information pact to boost defence cooperation

Diplomat Times
-
0
South Korea, Germany to sign information pact to boost defence cooperation

South Korea, Germany to sign information pact to boost defence cooperation

SEOUL, (Reuters) – South Korea and Germany will soon sign an agreement aimed at protecting military secrets to boost defence cooperation, South Korean President Yoon Suk Yeol said on Sunday as he met with German Chancellor Olaf Scholz in Seoul.

The military information agreement will help “smoothly operate the defence industry supply chain”, amid global economic and political instability, Yoon told a briefing.

South Korea, which recently pursued a similar information-sharing pact with Canada, has moved to expand its defence industry amid rising demand driven by the war in Ukraine and other global tensions, but has so far refused to provide weapons to Kyiv.

READ MORE : South Korea President Yoon hosts New Year’s luncheon for Diplomats in Korea

Yoon said respect for freedom as a universal value was “very vital” in the face of authoritarianism challenging democracy, unstable global supply chains and the war.

“From now, I expect South Korea and Germany will further expand reciprocal and future-oriented cooperation and strengthen the solidarity for peace and prosperity of Europe and Asia,” Yoon said in opening remarks at the meeting with Scholz.

The two leaders also discussed deepening cooperation in production of semiconductors, among other areas.

Scholz, who is visiting South Korea after attending the Group of Seven (G7) summit in Hiroshima, Japan, called North Korea’s missile tests a sign of a “still dangerous situation” on the Korean peninsula.

“This is a threat to peace and security in this region,” he said at a military base after a visit to the Demilitarized Zone (DMZ) separating the Koreas.

READ MORE : Biden and G7 leaders unveil new Russia sanctions as Zelensky expected to attend Japan summit

Germany’s history as a divided nation had been overcome, he said, but division persists on the Korean peninsula.

Both Scholz and Yoon left Japan on Sunday after joining the G7 summit. South Korea was invited as an observer.

G7 leaders signalled they would not back down from supporting Ukraine, and outlined a shared approach towards China, looking to “de-risk, not decouple” economic engagement with a country regarded as the factory of the world.

Yoon, who met Ukrainian President Volodymyr Zelenskiy for the first time on the sidelines of the G7, said he was planning to provide mine-removing equipment and ambulances.

Yoon added that South Korea would “carefully review” a list of some non-lethal weapons requested by Zelenskiy.

South Korea signed an agreement with Ukraine on Wednesday on its plan to provide a $130 million financial aid package, a day after the visiting first lady of the war-hit country asked for military assistance.

South Korea, a major producer of artillery shells, has said it was not providing lethal weapons to Ukraine, citing its relations with Russia.

Reporting by Hyunsu Yim; Editing by Hugh Lawson

Disclaimer: This report is auto generated from the REUTERS. Diplomat Times holds no responsibility for its content.

 

Nobel winners demand release of Belarusian peace laureate Ales Bialiatski

Shasi Kumar
-
0
Nobel winners demand release of Belarusian peace laureate Ales Bialiatski

Nobel winners demand release of Belarusian peace laureate Ales Bialiatski

BELARUS – PEN International, the literary and free expression organization, has released a letter signed by 103 Nobel Laureates, expressing solidarity with writer, human rights defender, Nobel Peace Prize winner, and PEN member Ales Bialiatski, and condemning the Belarusian authorities’ brutal, relentless, and systematic crackdown on independent voices. Today marks the International Day of Solidarity with Prisoners of Conscience in Belarus.

More than 100 Nobel laureates, including Kazuo Ishiguro, Olga Tokarczuk and JM Coetzee, have called for the release of Nobel peace prize winner Ales Bialiatski and said they “stand with the fearless people of Belarus who continue to fight for their human rights”.

Bialiatski founded an organization called Viasna (Spring) to provide support for demonstrators who were jailed after protesting against dictatorial powers granted to Belarusian president Alexander Lukashenko following a constitutional amendment in 1996.

After its founding, Viasna evolved into a human rights organization that documents the authorities’ abuses against and torture of political prisoners.

Open letter condemning the detention of the human rights activist, who won the 2022 prize, signed by more than 100 laureates including Kazuo Ishiguro and JM Coetzee

Bialiatski’s work has seen him targeted by the authorities: he was jailed in 2011 for alleged tax evasion by the government, and released in 2014. But in 2021, the year after an election led to protests against Lukashenko’s dictatorship, Bialiatski was again jailed, this time without trial or conviction.

The Nobel peace prize was conferred on him in 2022, during his detention. Since then, he has been sentenced to 10 years in prison.

Now, 103 Nobel Laureates have signed an open letter from Pen International expressing solidarity with Bialiatski and condemning the actions of the Belarusian president.

The letter, also signed by authors including Svetlana Alexievich, Mario Vargas Llosa and Annie Ernaux, says that Bialiatski “has devoted his life to the promotion of democracy and human rights in Belarus.

“He has dared to hold President Lukashenko accountable for his brutal, relentless and systematic crackdown on independent voices,” continued the letter. “For this, he is paying the heaviest price: 10 years in prison on spurious grounds.

“Bialiatski is a symbol of hope and an inspiration to human rights defenders around the world, who should be celebrated as such.”

READ MORE : Biden to discuss about Ukraine with Brazil’s Lula, India’s Modi

The signatories say they stand with Bialiatski and the fellow members of Viasna – Marfa Rabkova, Valiantsin Stefanovich, Uladzimir Labkovich, Leanid Sudalenka, Andrei Chapiuk – who have also been imprisoned.

“We stand with the multitude of writers, journalists, cultural workers, human rights defenders and citizens of Belarus who are serving lengthy prison terms merely for peacefully expressing their views and speaking truth to power,” the letter said. “We stand with the fearless people of Belarus who continue to fight for their human rights.”

Bialiatski won the Nobel peace prize jointly with the Russian human rights organisation Memorial and the Ukrainian Centre for Civil Liberties. The citation for the prize said they demonstrated “the significance of civil society for peace and democracy”.

Who signature in this letter, List of Nobel winners

Nobel Prize in Chemistry Laureates: Peter Agre (2003), Thomas R. Cech (1989), Martin Chalfie (2008), Emmanuelle Charpentier (2020), Aaron Ciechanover (2004), Elias James Corey (1990), Johann Deisenhofer (1988), Jacques Dubochet (2017), Joachim Frank (2017), Alan Heeger (2000), Richard Henderson (2017), Dudley R. Herschbach (1986), Roald Hoffmann (1981), Robert Huber (1988), Martin Karplus (2013), Brian K. Kobilka (2012), Roger D. Kornberg (2006), Yuan T. Lee (1986), Robert J. Lefkowitz (2012), Jean-Marie Lehn (1987), Hartmut Michel (1988), John C. Polanyi (1986), Jean-Pierre Sauvage (2016), Richard R. Schrock (2005), Arieh Warshel (2013), M. Stanley Whittingham (2019).

Nobel Prize in Economic Sciences Laureates: Esther Duflo (2019), Oliver Hart (2016), Guido W. Imbens (2021), Finn E. Kydland (2004), Eric S. Maskin (2007), Paul R. Milgrom (2020), Edmund S. Phelps (2006), Alvin E. Roth (2012), Vernon L. Smith (2002), Joseph E. Stiglitz (2001).

Nobel Prize in Literature Laureates: Svetlana Alexievich (2015), J. M. Coetzee (2003), Annie Ernaux (2022), Louise Gluck (2020), Abdulrazak Gurnah (2021), Kazuo Ishiguro (2017), Elfriede Jelinek (2004), Patrick Modiano (2014), Herta Muller (2009), Orhan Pamuk (2006), Wole Soyinka (1986), Olga Tokarczuk (2018), Mario Vargas Llosa (2010).

Nobel Prize in Medicine Laureates: Harvey J. Alter (2020), J. Michael Bishop (1989), Elizabeth H. Blackburn (2009), Mario R. Capecchi (2007), Andrew Z. Fire (2006), Carol W. Greider (2009), Jeffrey Connor Hall (2017), Harald zur Hausen (2008), Jules A. Hoffmann (2011), Tasuku Honjo (2018), Sir Michael Houghton (2020), Tim Hunt (2001), Louis J. Ignarro (1998), Eric R. Kandel (2000), Barry J. Marshall (2005), Craig C. Mello (2006), Edvard Moser (2014), May-Britt Moser (2014), Erwin Neher (1991), Sir Paul M. Nurse (2001), Stanley B. Prusiner (1997), Sir Peter J. Ratcliffe (2019), Charles M. Rice (2020), Sir Richard J. Roberts (1993), Michael Rosbash (2017), James E. Rothman (2013), Gregg L. Semenza (2019), Hamilton O. Smith (1978), Harold E. Varmus (1989), Eric F. Wieschaus (1995), Torsten N. Wiesel (1981).

Nobel Peace Prize Laureates: Shirin Ebadi (2003), Dmitry Muratov (2021), Maria Ressa (2021), Oscar Arias Sanchez (1987), Juan Manuel Santos (2016).

Nobel Prize in Physics Laureates: Barry Clark Barish (2017), Albert Fert (2007), Jerome I. Friedman (1990), John L. Hall (2005), Serge Haroche (2012), Takaaki Kajita (2015), Wolfgang Ketterle (2001), Anthony J. Leggett (2003), John C. Mather (2006), Michel Mayor (2019), Konstantin Novoselov (2010), Roger Penrose (2020), William D. Phillips (1997), H. David Politzer (2004), Horst L. Stormer (1998), Kip Stephen Thorne (2017), Daniel C. Tsui (1998), Robert Woodrow Wilson (1978).

 

By Sarah Shaffi, Editing by Shasi Kumar | With special thanks to J.M Coetzee and Sir Richard J. Roberts.

Disclaimer: This report is auto generated from the TH. Diplomat Times holds no responsibility for its content.

Biden to discuss about Ukraine with Brazil’s Lula, India’s Modi

Shasi Kumar
-
0
Biden to discuss about Ukraine with Brazil’s Lula, India’s Modi

Biden to discuss about Ukraine with Brazil’s Lula, India’s Modi

HIROSHIMA, Japan(Reuters) – U.S. President Joe Biden aims to speak this weekend with Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi about Ukraine and the “sacrosanct” issue of sovereignty and territorial integrity, U.S. national security adviser Jake Sullivan said on Saturday.

Lula and Modi are attending a summit of the Group of Seven (G7) rich nations in Hiroshima at the invitation of Japan, this year’s host of the G7, which also includes the U.S., Germany, Britain, France, Italy and Canada.

Asked if Biden would pressure or urge the two leaders to toughen their approach on China and Russia, Sullivan said, “I think pressure is just the wrong word. I mean, that’s not how President Biden operates with these key leaders with whom he has deep relationships, like President Lula and President Modi.”

READ MORE : What India’s decision to scrap its 2000-rupee note means for its economy

Instead, Biden would “look for the opportunity to speak with both of them about the constructive role that each country can play in supporting the most basic and fundamental element of any outcome, which is sovereignty and territorial integrity, which is sacrosanct in the (United Nations) Charter,” Sullivan told reporters in Hiroshima.

Brazil and India have for years sought to play bridge-building roles between the United States and Russia and China, and both countries have maintained economic and political relations with Moscow after its invasion of Ukraine in February 2022, frustrating Western efforts to isolate Moscow.

Lula last month angered many in the West by calling for the U.S. and European allies to stop supplying arms to Ukraine, saying they were prolonging the war. A White House spokesperson responded by accusing him of “parroting Russian and Chinese propaganda”.

After the backlash, the Brazilian leader toned down his comments, and on a visit to Portugal and Spain he condemned Russia’s violation of Ukraine’s territorial integrity.

Sullivan noted that Brazil has supported several key U.N. resolutions based on the underlying concept of territorial integrity, adding, “That’s really where the president wants to drive things with the key emerging economies who will be here.”

Other issues Biden wants to discuss include a G7 push to build more resilient supply chains and bolster infrastructure investments in developing countries, as well as how to deal with their massive debt burdens, Sullivan said.

Biden is slated to see Modi as part of a third Quad summit, along with the leaders of Australia and Japan on the sidelines of the G7 summit.

Reporting by Trevor Hunnicutt and Jeff Mason; Writing by Andrea Shalal and William Mallard

Disclaimer: This report is auto generated from the REUTERS. Diplomat Times holds no responsibility for its content.

 

 

‘War is not an option’, Taiwan president says amid China tensions

Diplomat Times
-
0
‘War is not an option’, Taiwan president says amid China tensions

‘War is not an option’, Taiwan president says amid China tensions

TAIPEI (Reuters) – Taiwan’s President Tsai Ing-wen vowed on Saturday to maintain the status quo of peace and stability across the Taiwan Strait amid high tensions with China, which has stepped up military pressure on the democratically governed island.

Taiwan will not provoke and will not bow to Chinese pressure, Tsai said in a speech in the presidential office in Taipei marking the seventh anniversary of her governance.

READ MORE : Taiwan threat from China serious, House GOP chairman Gallagher says

China, which considers Taiwan as its own and threatens to bring the island under its control if necessary, has stepped up military and diplomatic pressure to force the island to accept Chinese sovereignty since Tsai took office in 2016.

Beijing has rebuffed calls for talks from Tsai, regarding her to be a separatist. Tsai has repeatedly vowed to defend Taiwan’s freedom and democracy.

“War is not an option. Neither side can unilaterally change the status quo with non-peaceful means,” Tsai said. “Maintaining the status quo of peace and stability is the consensus for both the world and Taiwan.”

“Although Taiwan is surrounded by risks, it is by no means a risk maker. We are a responsible risk manager and Taiwan will stand together with democratic countries and communities around the world to jointly defuse the risks,” she said.

Leaders of the Group of Seven (G7) rich nations agreed they were seeking a peaceful resolution to issues on Taiwan, the host of the G7 summit in Hiroshima, Japanese Prime Minister Fumio Kishida, said on Friday.

Tsai said Taiwan officials are in discussions with U.S. President Joe Biden’s administration on sending $500 million worth of weapons aid to Taiwan, adding that the aid was meant to address deliveries of weapons delayed due to the COVID-19 pandemic.

She stressed the global importance of Taiwan’s supply chain, which produces most of the world’s advanced semiconductor chips, and vowed to keep the most advanced chip technologies and research and development centres in Taiwan.

READ MORE : China ready to work with America for world peace & stability: President Jinping

Taiwan is gearing up for a key presidential election in mid-January, with China tensions set to top the campaign agenda.

Representing Taiwan’s main opposition Kuomintang (KMT) party for the key vote in mid-January, New Taipei City mayor Hou Yu-ih said on Saturday that Taiwan faces a choice between “peace and war” under Tsai’s rule and he vowed to keep regional stability through unspecified “dialogue and exchanges”.

“The fears for war will never drive away the hope for peace,” Hou said at an event in Taipei to kick off his election campaign, vowing to defend the Republic of China, Taiwan’s official name.

Hou is running against Taiwan Vice President William Lai from the ruling Democratic Progressive Party.

READ MORE : G7 Summit :Ukraine President Zelenskyy arrives in Japan

The KMT, which favours close ties with China, has framed the 2024 vote as a choice between war and peace.

In the presidential office when asked about the opposition’s stance on the elections, Tsai said maintaining peace should be the consensus for all political parties in Taiwan, and that one should not “sell the fears of war for elections gains.”

Today President Tsai Ing-wen tweet her 7 year spent as president for Taiwan. Today I begin my eighth year as president of the Republic of China (Taiwan).

Seven years ago, we embraced our cause of transforming our country, and one step after the other, embarked on reform. From then to now, we have walked a long path. We have markedly changed the face of Taiwan from that of seven years ago.

Going forward, we must demonstrate our determination to create an economy and industries that are even more resilient, so that we can cement Taiwan’s key position in global supply chains.

Reporting by Yimou Lee; Editing by Jacqueline Wong

Disclaimer: This report is auto generated from the REUTERS. news service. Diplomat Times holds no responsibility for its content.

Explainer: What India’s decision to scrap its 2000-rupee note means for its economy

Diplomat Times
-
0
Explainer: What India’s decision to scrap its 2000-rupee note means for its economy

Explainer: What India’s decision to scrap its 2000-rupee note means for its economy

MUMBAI (Reuters) – India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023.

The decision is reminiscent of a shock move in 2016 when the Narenda Modi-led government had withdrawn 86% of the economy’s currency in circulation overnight.

This time, however, the move is expected to be less disruptive as a lower value of notes is being withdrawn over a longer period of time, according to analysts and economists.

WHY DID THE GOVERNMENT WITHDRAW 2000-RUPEE NOTES?

When 2000-rupee notes were introduced in 2016 they were intended to replenish the Indian economy’s currency in circulation quickly after demonetisation.

However, the central bank has frequently said that it wants to reduce high value notes in circulation and had stopped printing 2000-rupee notes over the past four years.

“This denomination is not commonly used for transactions,” the Reserve Bank of India said in its communication while explaining the decision to withdraw these notes.

WHY NOW?

While the government and the central bank did not specify the reason for the timing of the move, analysts point out that it comes ahead of state and general elections in the country when cash usage typically spikes.

“Making such a move ahead of the general elections is a wise decision,” said Rupa Rege Nitsure, group chief economist at L&T Finance Holdings. “People who have been using these notes as a store of value may face inconvenience,” she said.

WILL THIS HURT ECONOMIC GROWTH?

The value of 2000-rupee notes in circulation is 3.62 trillion Indian rupees ($44.27 billion). This is about 10.8% of the currency in circulation.

READ MORE : India’s Modi to Visit Papua New Guinea in Outreach to Pacific Island Countries

“This withdrawal will not create any big disruption, as the notes of smaller quantity are available in sufficient quantity,” said Nitsure. “Also in the past 6-7 years, the scope of digital transactions and e-commerce has expanded significantly.”

But small businesses and cash-oriented sectors such as agriculture and construction could see inconvenience in the near term, said Yuvika Singhal, economist at QuantEco Research.

To the extent that people holding these notes chose to make purchases with them rather than deposit them in bank accounts, there could be some spurt in discretionary purchases such as gold, said Singhal.

HOW WILL IT AFFECT BANKS?

As the government has asked people to deposit or exchange the notes for smaller denominations by Sept. 30, bank deposits will rise. This comes at a time when deposit growth is lagging bank credit growth.

This will ease the pressure on deposit rate hikes, said Karthik Srinivasan, group head – financial sector ratings at rating agency ICRA Ltd.

Banking system liquidity will also improve.

READ MORE : G7 Summit: PM Narendra Modi reaches Japan to attend the G7 Summit

“Since all the 2000-rupee notes will come back in the banking system, we will see a reduction in cash in circulation and that will in turn help improve banking system liquidity,” said Madhavi Arora, economist at Emkay Global Financial Services.

WHAT ARE THE IMPLICATIONS FOR BOND MARKETS?

Improved banking system liquidity and an inflow of deposits into banks could mean that short-term interest rates in the market drop as these funds get invested in shorter-term government securities, said Srinivasan.

($1 = 81.7800 Indian rupees)

Reporting by Ira Dugal; Editing by Jacqueline Wong

Disclaimer: This report is auto generated from the REUTERS. Diplomat Times holds no responsibility for its content.

 

Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022

Roshan Bilung
-
0
Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022

Demand for electric cars is booming, with sales expected to leap 35% this year after a record-breaking 2022

DT(BUSINESS)- Global sales of electric cars are set to surge to yet another record this year, expanding their share of the overall car market to close to one-fifth and leading a major transformation of the auto industry that has implications for the energy sector, especially oil.

The new edition of the IEA’s annual Global Electric Vehicle Outlook shows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million. This explosive growth means electric cars’ share of the overall car market has risen from around 4% in 2020 to 14% in 2022 and is set to increase further to 18% this year, based on the latest IEA projections.

“Electric vehicles are one of the driving forces in the new global energy economy that is rapidly emerging – and they are bringing about a historic transformation of the car manufacturing industry worldwide,” said IEA Executive Director Fatih Birol. “The trends we are witnessing have significant implications for global oil demand. The internal combustion engine has gone unrivalled for over a century, but electric vehicles are changing the status quo. By 2030, they will avoid the need for at least 5 million barrels a day of oil. Cars are just the first wave: electric buses and trucks will follow soon.”

READ MORE : Elon Musk appoint Twitter’s new CEO is an NBCUniversal executive with deep ad industry ties

The overwhelming majority of electric car sales to date are mainly concentrated in three markets – China, Europe and the United States. China is the frontrunner, with 60% of global electric car sales taking place there in 2022. Today, more than half of all electric cars on the road worldwide are in China. Europe and the United States, the second and third largest markets, both saw strong growth with sales increasing 15% and 55% respectively in 2022.

Ambitious policy programmes in major economies, such as the Fit for 55 package in the European Union and the Inflation Reduction Act in the United States, are expected to further increase market share for electric vehicles this decade and beyond. By 2030, the average share of electric cars in total sales across China, the EU and the United States is set to rise to around 60%.

The encouraging trends are also having positive knock-on effects for battery production and supply chains. The new report highlights that announced battery manufacturing projects would be more than enough to meet demand for electric vehicles to 2030 in the IEA’s Net Zero Emissions by 2050 Scenario. However, manufacturing remains highly concentrated, with China dominating the battery and component trade – and increasing its share of global electric car exports to more than 35% last year.

Other economies have announced policies to foster domestic industries that will improve their competitiveness in the EV market in years to come. The EU’s Net Zero Industry Act aims for nearly 90% of annual battery demand to be met by domestic battery manufacturers. Similarly, the US Inflation Reduction Act places emphasis on strengthening domestic supply chains for EVs, batteries and minerals. Between August 2022, when the Inflation Reduction Act was passed, and March 2023, major EV and battery makers announced investments totalling at least USD 52 billion in EV supply chains in North America.

Despite a concentration of electric car sales and manufacturing in only a few big markets, there are promising signs in other regions. Electric car sales more than tripled in India and Indonesia last year, albeit from a low base, and they more than doubled in Thailand. The share of electric cars in total sales rose to 3% in Thailand, and to 1.5% in India and Indonesia. A combination of effective policies and private sector investment is likely to increase these shares in the future. In India, the government’s USD 3.2 billion incentive programme, which has attracted investments worth USD 8.3 billion, is expected to increasing battery manufacturing and EV rollout substantially in the coming years.

In emerging and developing economies, the most dynamic area of electric mobility is two- or three-wheel vehicles, which outnumber cars. For example, over half of India’s three-wheeler registrations in 2022 were electric, demonstrating their growing popularity. In many developing economies, two- or three-wheelers offer an affordable way to get access to mobility, meaning their electrification is important to support sustainable development.

Disclaimer: This report is auto generated from the IEA. Diplomat Times holds no responsibility for its content.

G7 Summit :Ukraine President Zelenskyy arrives in Japan

Um Kwang Ho
-
0
G7 Summit :Ukraine President Zelenskyy arrives in Japan

G7 Summit : Ukraine President Zelenskyy arrives in Japan

Zelenskyy arrives at G7 after Ukraine wins access to US-made F-16 jet fighters

JAPAN (ALZelenskyy’s arrival at the G7 summit comes a day after winning long-sought access to advanced US fighter jets and training for Ukrainian pilots.

His surprise appearance in Japan follows shortly after he welcomed as “historic” Biden’s decision to allow Ukrainian pilots to train to fly F-16 fighters.

Until now the Biden administration had effectively vetoed the transfer of F-16s, with US officials citing long pilot training times and the risk of escalating the conflict with Russia.

US National Security Advisor Jake Sullivan insists there was no U-turn in US policy.

Until now the Biden administration had effectively vetoed the transfer of F-16s, with US officials citing long pilot training times and the risk of escalating the conflict with Russia.

US National Security Advisor Jake Sullivan insists there was no U-turn in US policy.

READ MORE : Zelensky takes his diplomatic campaign against Russia to Arab summit, G7

“We’ve reached a moment where it’s time to look down the road and to say ‘What is Ukraine going to need … to be able to deter and defend against Russian aggression?’

“F-16s, fourth-generation fighter aircraft, are part of that mix,” Sullivan told reporters on Saturday.

“We are going to do everything we can to support Ukraine in its defence of its sovereignty and territorial integrity, and we are also going to proceed in a way that avoids World War III,” he added.

Disclaimer: This report is auto generated from the ALJAZEERA. Diplomat Times holds no responsibility for its content.

German Cabinet Publishes New Draft Legislation on Citizenship Reform to Attract Skilled Migrants

Marietta Reformado
-
0
German Cabinet Publishes New Draft Legislation on Citizenship Reform to Attract Skilled Migrants

German Cabinet Publishes New Draft Legislation on Citizenship Reform to Attract Skilled Migrants

BERLIN(REUTERS) The German interior ministry has unveiled a draft legislation aimed at streamlining the process for individuals to apply for citizenship, as Germany seeks to enhance migration and open up job opportunities in Europe’s largest economy. The proposed legislation introduces provisions such as a multiple citizenship option and shortened residency requirements, thereby reducing the naturalization period from eight years to either five or three years.

According to recent data, by the end of 2021, Germany was home to approximately 72.4 million individuals holding German citizenship and around 10.7 million individuals with foreign citizenship. Among these, approximately 5.7 million foreign citizens had resided in Germany for at least a decade.

READ MORE : Zelensky meets Federal Chancellor Scholz in Germany

The draft legislation specifically seeks to address the situation of the “Gastarbeiter” generation, predominantly composed of Turkish migrants who arrived in Germany during the 1950s and 60s as laborers. It includes measures to ease the German language proficiency requirements for this generation, recognizing their significant contributions and long-standing presence in the country.

Interior Minister Nancy Faeser emphasized the importance of allowing individuals who have integrated into German society to participate in shaping the country’s democratic processes. Minister Faeser cited examples from countries like Canada, highlighting the crucial role of such perspectives in attracting skilled workers to meet Germany’s labor demands.

“We want people who have become part of our society to be able to help shape our country democratically,” Interior Minister Nancy Faeser said in a statement, adding that examples from countries like Canada show this perspective was crucial to attract the skilled workers Germany needs. The German government last year agreed plans to reform its immigration law, as Berlin seeks to open the job market to much-needed workers from outside the European Union to fill hundred of thousands of vacancies in sectors from gastronomy and childcare to IT and renewable energies.

The German government’s move to reform its immigration law comes as a response to the pressing need for workers from outside the European Union to fill hundreds of thousands of vacancies across various sectors, including gastronomy, childcare, IT, and renewable energies.

However, the draft legislation has encountered opposition both within the ruling coalition and from the conservative opposition party. Critics argue that the proposed legislation might encourage illegal migration while undermining incentives for migrants to fully integrate into German society.

Disclaimer: This report is auto generated from the REUTERS. Diplomat Times holds no responsibility for its content.

1...183184185...210Page 184 of 210

Explore

Countries

Crime & War

More

Others

Follow us

© DT Broadcasting Pvt Ltd formerly known as Diplomat Times Pvt Ltd Registered No: U60200DL2024PTC426518 , Diplomat Times International Co. LTD. (Thailand) Registered No: 0105566195031 | PT Diplomat Times International Broadcasting (Indonesia) 4023120636101176 | Trade Mark 4791109 | All Rights Reserved