World

Fierce competition starts between US, China for energy corridors in central asia
21Aug mmBy Mike TrudellNo Comments
Asia, China, World

Fierce competition starts between US, China for energy corridors in central asia

Amid already heightened tensions between the United States and China, the Trump administration has now called "for a new alliance of democracies" to counter China's aggressive policies, and, in a retaliatory move, Beijing has begun adding more potential new trade and energy corridors linking Central Asia with South Asia and the Middle East.To counter China's aggressive expansionist policies in the South China Sea, the US has decided to have a quadrilateral alliance with Japan, Australia and India.Maleeha Lodhi, who has served as Pakistan's ambassador to Britain, the US and the United Nations said, “Fundamental realignments are taking place across the world at a challenging, transformative time in international affairs when global power is shifting to the East. Our region is no exception an...
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Trump administration finalizes oil drilling plan in Alaska wildlife refuge
21Aug By Desk TeamNo Comments
USA, World

Trump administration finalizes oil drilling plan in Alaska wildlife refuge

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. The Trump administration on Monday finalized a plan to allow oil and gas drilling in Alaska's Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the pristine wilderness area before a potential change in U.S. leadership. REUTERS: The Trump administration on Monday finalized a plan to allow oil and gas drilling in Alaska's Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the pristine wilderness area before a potential change in U.S. leadership. The energy industry and Alaska Governor Michael Dunleavy said opening ANWR to drilling would create jobs and boost the state'...
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India’s coronavirus cases rise by a daily record of 55,078
21Aug By Desk TeamNo Comments
World

India’s coronavirus cases rise by a daily record of 55,078

BENGALURU: India reported another record surge in daily COVID-19 cases on Friday (Jul 31), taking the total to 1.64 million, as the government further eases virus curbs in a bid to resuscitate the economy, while also trying to increase testing. Infections jumped by 55,078 in the past 24 hours, while the death toll rose by 779 to 35,747, the Ministry of Health and Family Welfare said on its website. The ministry also said it aimed to raise the country's capacity to 1 million coronavirus tests per day in the medium term, from a record 600,000 on Friday. The federal government this week announced the reopening of yoga institutes and gymnasiums, and removed restrictions on the movement of people and goods. Download our app or subscribe to our Telegram channel for the latest updates on ...
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China’s young job seekers struggle despite economic recovery
21Aug By Desk TeamNo Comments
China, World

China’s young job seekers struggle despite economic recovery

ZHENGZHOU: Biology student Ma Jingjing wandered the hall of a job fair in central China among other young Chinese hoping to find work in an economy crushed by the coronavirus pandemic. Ma, 26, is one of almost 9 million people graduating and entering the job market this year at a time of great uncertainty, an issue that has the ruling Communist Party worried to the point that President Xi Jinping has made it a priority. The world's second-largest economy may have rebounded sharply from a historic virus-induced contraction, but its young graduate jobless rate in June was more than three times that for urban unemployment. Ma was among hundreds of young faces streaming in and out of the job fair on a recent weekend in Zhengzhou, where employers in industries ranging from real estate to...
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‘The sight of stars makes me dream’: Paralympics remain on the minds of Singapore’s athletes despite COVID-19 uncertainty
21Aug By Desk TeamNo Comments
Singapore, World

‘The sight of stars makes me dream’: Paralympics remain on the minds of Singapore’s athletes despite COVID-19 uncertainty

SINGAPORE: A particular quote by painter Vincent Van Gogh resonated with cyclist Steve Tee during the uncertainty of what he calls the "COVID-19 period". "He said something like: 'For my part I know nothing with any certainty, but the sight of the stars makes me dream.' And I realised that our (star) is the Paralympics, so I cannot lose sight of it," Tee told CNA. "We are still continuing to work on it and at the same time, we keep our fingers crossed, hope for the best and prepare for the worst." Tee, who will represent Singapore at next year's coronavirus-postponed Paralympics, was one of the athletes recognised for their achievements and contributions at the Singapore Disability Sports Awards on Friday (Aug 7). He was nominated for the Sportsman of the Year award, which was won ...
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Covid-19 has put older workers’ retirement at risk. Here’s how stimulus legislation would help
20Aug By Desk TeamNo Comments
World

Covid-19 has put older workers’ retirement at risk. Here’s how stimulus legislation would help

Congress is at an impasse when it comes to how to help millions of Americans recover from the economic fallout of the coronavirus pandemic. Now, a report from Democrats on the Joint Economic Committee of Congress shows that one group — workers age 55 and older — are among those most at risk for financial hardship. As millions of workers have lost their jobs, the unemployment rate for those over 55 climbed to the highest rate on record, according to the report. In April, the gap between the unemployment rate for workers 65 and up and those ages 25 to 54 grew by three percentage points, the biggest ever recorded. Unemployment for those 65 and up was 15.6%, while for prime age workers ages 25 to 54 it was 12.6%. Older workers most at risk for job insecurity include women and Blacks, accord...
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German-Chinese coronavirus vaccine trial begins in China
20Aug By Desk TeamNo Comments
China, World

German-Chinese coronavirus vaccine trial begins in China

BERLIN: Clinical trials on humans have begun in China for a potential coronavirus vaccine developed by German pharmaceutical group BioNTech with Chinese company Fosun Pharma, the companies said Wednesday (Aug 5). Seventy-two participants have already received their first dose following approval for the phase 1 trial from Chinese regulatory authorities, BioNTech and Fosun Pharma said in a statement. The vaccine candidate, known as BNT162b1, is one of four based on BioNTech's proprietary mRNA technology. Another, BNT162b2, is being evaluated in a global phase 3 trial conducted by BioNTech and US giant Pfizer which started on Jul 27. The phase 1 trial in China involves 144 participants who will receive two doses 21 days apart. Those aged 18-55 will be the first to take part, followed...
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Global stocks on defensive as US-China tensions spook investors
20Aug By Desk TeamNo Comments
China, World

Global stocks on defensive as US-China tensions spook investors

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. TOKYO: U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. S&P500 futures dropped 0.2per cent while Nasdaq futures lost 0.3per cent. Japan's Nikkei fell 1.3per cent, re-opening after a long weekend. MSCI's b...
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Jordan to reopen to ‘low risk’ countries in August
20Aug By Desk TeamNo Comments
World

Jordan to reopen to ‘low risk’ countries in August

AMMAN: Jordan will reopen its airports to commercial flights next month after a near five-month shutdown imposed to stem the spread of the coronavirus, an official said Sunday (Jul 26). The move comes as the country is trying to revive its economy which has been badly hit since the outbreak of the pandemic. Civil aviation commission chief Haitham Misto told state television that flights from 22 "low risk" countries will be allowed from Aug 5. The countries listed by the health ministry include Austria, Canada, China, Denmark, Georgia, Germany, Greenland, Iceland, Ireland, Italy, Malaysia, New Zealand, Switzerland and Thailand, he said. Travellers from those countries will not need to isolate for 14 days when they reach Jordan but must be tested for the virus before arriving, Misto ...
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Wall Street’s ‘fear gauge’ will signal whether a dotcom bubble repeat lies ahead, analyst says
19Aug By Desk TeamNo Comments
World

Wall Street’s ‘fear gauge’ will signal whether a dotcom bubble repeat lies ahead, analyst says

The market's seemingly narrow leadership this year has raised concern about a potential market downfall similar to the one experienced around the turn of the millennium. The S&P 500 has stormed back to positive territory for the year this week after being down more than 30% for 2020 at one point. A big chunk of that rally has been driven by gains in six of the major tech-related names — Facebook, Amazon, Apple, Netflix, Google-parent Alphabet and Microsoft.
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