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China asks G20 countries to resolutely advance economic globalisation; calls for unity & cooperation

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The G20 members should also work together to protect the Earth’s green home, promote green and low-carbon development, protect the marine ecological environment, and be partners in promoting global sustainable development, he said.

Published Date – 05:01 PM, Sat – 9 September 23


China asks G20 countries to resolutely advance economic globalisation; calls for unity & cooperation



New Delhi: Chinese Premier Li Qiang on Saturday underlined the need for unity amongst the G20 members and called for cooperation, inclusion and resolute support for economic globalisation.

Li, the number two ranked leader of the ruling Communist Party of China (CPC), is currently in New Delhi, deputing for President Xi Jinping, to attend the annual G20 summit being hosted by India from September 9-10.

Addressing the first session of the 18th G20 Summit in New Delhi, Premier Li said the influential grouping needs “unity instead of division, cooperation instead of confrontation, and inclusion instead of exclusion.” The G20 member countries represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.

Li urged the G20 members to resolutely promote economic globalisation and jointly maintain the stability and smoothness of industrial and supply chains, China’s state-run Xinhua news agency reported.

The G20 members should stick to the original aspiration of unity and cooperation, and shoulder the responsibility of the times for peace and development, he said.

Li urged the G20 members to act as partners in promoting global economic recovery through effectively strengthening macro-economic policy coordination to convey confidence and provide impetus for world economic growth.

The G20 members should also work together to protect the Earth’s green home, promote green and low-carbon development, protect the marine ecological environment, and be partners in promoting global sustainable development, he said.

The G20 bloc comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

In a significant milestone under India’s G20 presidency, the African Union on Saturday became a new permanent member of the grouping of the largest economies of the world, in the first expansion of the influential bloc since its inception in 1999.

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EU to invest 4 bn euros in renewable energy, hydrogen in developing economies in next 5 years: EC President

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Formed in 1999, the G20 was formed to maintain global financial stability by incorporating middle-income countries.

Updated On – 06:23 PM, Sat – 9 September 23


EU to invest 4 bn euros in renewable energy, hydrogen in developing economies in next 5 years: EC President



New Delhi: European Commission President Ursula von der Leyen has said the EU will invest at least four billion euros in renewable energy and hydrogen in developing economies through its Global Gateway plan in the next five years.

“Global Gateway is also about sharing technology and re-risking additional private capital. Because if we want to master climate change we also have to attract a lot of private capital,” the European Commission President said while addressing the G20 Summit’s first Session, ‘One Earth’.

Leyen said science tells us that we are about to miss our objective of limiting global warming to 1.5 degrees. “So, it is absolutely critical that we maintain our path of 1.5 degrees. Only what gets measured gets done, we know this principle, she said.

She further said: “We need to triple renewable energy capacity and double energy efficiency until 2030 if we are to reach our goal of limiting temperature increases to 1.5 degrees. Only what gets measured gets done, we know that principle.”

She then called to anchor a global goal at COP28 for renewable energies that have to be reached by 2030 and energy efficiency by 2030. Global goals will provide a benchmark against which to track progress and a strong signal of predictability to the private sector.

The European Commission President said climate change is a global threat and a contributing factor to food insecurity.

“Food security is also a victim of Russia’s aggression in Ukraine. We call on Russia to allow the grain from Ukraine to reach global markets via the Black Sea,” she said.

“We are doing our utmost to facilitate the grain to reach global markets via the land route. But for global prices to stabilize, grain also has to travel by sea. No one should go hungry and the leaders of the G20 have the responsibility and the tools to enable the flow of grain to where it is needed,” she added.

She then said it is a pleasure to welcome the African Union as a new member of the G20. “I just came back from Kenya, at the Africa Climate Summit. There, Africa’s voice resonated across the globe. Especially the voice of its youth, via the Kenya Youth Forum, who confronted us about our responsibility, as leaders,” she said.

Meanwhile, Prime Minister Narendra Modi on Friday extended a welcome to the President of the European Commission on her arrival at the national capital for the G20 Summit.

Responding to a post by the EU President on social media platform X, Prime Minister Modi wrote, “Glad to see you in Delhi for the G20 Summit, @vonderleyen. Grateful for the @EU_commission’s support and commitment. Collectively, we shall address the pressing challenges we face. Looking forward to fruitful deliberations and collaborative actions.” The EU chief touched down in the national capital on Thursday evening and was received by the Union Minister of State for Commerce and Industry, Anupriya Patel.

India and the EU have a common interest in ensuring security, prosperity and sustainable development in a multi-polar world. Both India and the EU agreed to further build on these convergences and foster new synergies for jointly contributing to a safer, greener, cleaner, more digital, resilient and stable world, in line with the 2030 Agenda for Sustainable Development and the Paris Agreement.

The EU is India’s second-largest trading partner (after the US) and India’s second-largest export market. India is the EU’s 10th largest trading partner, accounting for 2 per cent of EU total trade in goods. Trade in services between the EU and India reached 40 billion euros in 2021.

For the summit, which is being hosted under India’s presidency of the G20, extensive preparations and arrangements have been made not only to showcase the country’s soft power but also its emergence as a prominent global player.

Formed in 1999, the G20 was formed to maintain global financial stability by incorporating middle-income countries.

India assumed the G20 presidency on December 1 last year and about 200 meetings related to G20 were organized in 60 cities across the country. The 18th G20 Summit in New Delhi will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies.

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G20 leaders endorse FSB recommendations on regulation of crypto assets

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The G20 leaders under India’s presidency asked the FSB and standard-setting bodies (SSBs) to promote the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage.

Published Date – 06:26 PM, Sat – 9 September 23


G20 leaders endorse FSB recommendations on regulation of crypto assets

PTI Photo

New Delhi: The G20 member nations on Saturday endorsed the Financial Stability Board’s recommendations on regulation, supervision and oversight of crypto assets to mitigate risks associated with such an ecosystem.

Observing that the G20 continue to closely monitor the risks of the fast-paced developments in the crypto asset ecosystem, the New Delhi Leaders’ Declaration said G20 Finance Ministers and Central Bank Governors will discuss taking forward the roadmap at a meeting in October 2023.

The next meeting of G20 Finance Ministers and Central Bank Governors is scheduled to take place in Marrakech, Morocco.

“We endorse the Financial Stability Board’s (FSB’s) high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements,” the Declaration said.

The G20 leaders under India’s presidency asked the FSB and standard-setting bodies (SSBs) to promote the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage.

“We welcome the IMF-FSB Synthesis Paper, including a Roadmap, that will support a coordinated and comprehensive policy and regulatory framework taking into account the full range of risks and risks specific to the emerging market and developing economies (EMDEs) and ongoing global implementation of FATF standards to address money laundering and terrorism financing risks,” the Declaration said.

It has welcomed the shared FSB and SSBs work plan for crypto assets and the BIS Report on The Crypto Ecosystem: Key Elements and Risks.

The G20 leaders also called for the swift implementation of the CryptoAsset Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS).

The roadmap includes currently planned and ongoing work related to the implementation of policy frameworks, which taken together, seek to build institutional capacity beyond G20 jurisdictions; enhance global coordination, cooperation, and information sharing; and address data gaps necessary to understand the rapidly changing crypto asset ecosystem.

As per the Synthesis Paper, the FSB will, by 2025-end, conduct a review of the status of the implementation of the two sets of high-level recommendations at the jurisdictional level.

As the FSB recommendations are deliberately high-level and principles-based, the FSB will also consider whether additional guidance or recommendations are necessary, taking into account relevant international sectoral standards and guidance that have been or can be developed by SSBs.

To protect monetary stability, crypto assets should not be granted official currency or legal tender status, the paper suggested.
Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of currency units and verify the transfer of funds and such virtual currencies operate independently of a central bank.

The Synthesis Paper: Policies for Crypto-Assets was prepared by the International Monetary Fund (IMF) and Finance Stability Board (FSB) at the request of the Indian G20 presidency.

On the central bank-backed digital currency, the G20 leaders welcomed discussions on the potential macro-financial implications arising from the introduction and adoption of Central Bank Digital Currencies (CBDCs), notably on cross-border payments as well as on the international monetary and financial system.

The G20 leaders resolve to deploy all available digital tools and technologies and spare no effort in fostering safe and resilient digital ecosystems, and ensuring that every citizen on our planet is financially included.

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Ex-Met officers plead guilty to sharing racist jokes on Rishi Sunak

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Five former Met Police officers have pleaded guilty to sharing racist jokes involving UK Prime Minister Rishi Sunak, Queen Elizabeth II.

Published Date – 06:56 PM, Sat – 9 September 23


Ex-Met officers plead guilty to sharing racist jokes on Rishi Sunak



London: Five former Met Police officers have pleaded guilty to sharing racist jokes involving UK Prime Minister Rishi Sunak, Queen Elizabeth II and many others in a WhatsApp group between 2020 and 2022, the police said.

Peter Booth (66), Robert Lewis (62), Anthony Elsom (67), Alan Hall (65) and Trevor Lewton (65) appeared at the Westminster Magistrates’ Court on Thursday, where they pleaded guilty to 19 offences under Section 127(1) (a) of the Communications Act 2003.

The officers, who retired between 2001 and 2015, shared offensive messages on the WhatsApp group titled ‘Old Boys Beer Meet’, The Evening Standard reported.

Investigators found that Lewis, who retired from Met in 2015, pleaded guilty to eight counts of sending by public communication grossly offensive racist messages.

In one of the slurs, he shared a photo of Sunak, former Home Secretary Priti Patel and former Health Secretary Sajid Javid under the mocked-up street sign ‘Browning Street’.

Booth, who admitted to four offences, shared a picture of the late Queen Elizabeth II and Prince Philip with a golliwog doll and a joke about Pakistani flood victims.

Elsom had put a picture with mocked-up speech bubbles suggesting Princess Catherine had made monkey noises at black children.

Lewton admitted one count, while Hall pleaded guilty to three counts including a slur aimed at the Duchess of Sussex’s race, The Standard reported.

“The racist and discriminatory content of these messages is absolutely appalling and, given the defendants once served as police officers, we recognise that this case may further damage confidence in policing,” Commander James Harman, who leads the Met’s Anti-Corruption and Abuse Command, said in a statement.

“Colleagues across the Met will be disgusted to know that these men once served in the force and will be pleased to see the outcome today.”

All five of them have been released and their sentencing hearing is scheduled for November 6.

A sixth man, Michael Chadwell, 62, appeared at the same court and pleaded not guilty to one count of sending by public communication grossly offensive racist messages. He is expected to stand trial on the same date.

The charges come after a 2022 BBC Newsnight investigation, which sparked a Met Police probe.

World

Turkey refutes allegations about gas hub talks with Russia

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“Since they offered this gas trading platform to us there have been an earthquake and elections. So there was something of a pause period, though now we are negotiating again. If we want to receive more gas, if we want to involve more players in the game, a new exchange may be probably more significant. We are not against creating an additional platform for gas trading. However, if we have an operating gas trading platform now we don’t have to wait another year to start this trading operation,” he said.

On September 11, Turkish President Recep Tayyip Erdogan said that the gas hub project remained Ankara’s priority.

In October 2022, Putin proposed establishing such a hub in Turkey to where the lost gas transit flows through the Nord Stream pipeline could be redirected. Turkey has said that almost everything is ready to start the project in terms of infrastructure, but that legislative amendments are needed.

MNA/PR

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Train carrying toxic perchloric acid explodes in US

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The incident happened on Union Pacific Railroad tracks in the city of North Platte earlier Thursday, Daily Mail reports.

North Platte Volunteer Fire Department announced that they would order those living in the area to evacuate due to the toxic smoke from the railroad.

In a post to social media, they said: ‘Emergency evacuation for the area between splinter and front North of railroad track due fire at the railroad involving heavy toxic smoke.

‘Explosion at Union Pacific Railroad Bailey Yards at approximately 12:10 pm.’ 

In a later update, they announced they would be asking more homes to prepare to evacuate.

They said: ‘Houses between Homestead and Front, be prepared to evacuate in the next one to two hours due to wind and weather changing.’ 

Pictures shared online by the crew show a thick plume of white smoke moving across farmland. 

RHM/PR

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PM Modi praises Australian diplomats for their love for Hindi

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“Your recitation of proverbs and “dohas” is mesmerising and your love for Hindi language is quite interesting,” PM Modi said in his post on X.

Published Date – 01:10 PM, Fri – 15 September 23


PM Modi praises Australian diplomats for their love for Hindi



New Delhi: Prime Minister Narendra Modi on Friday praised Australian diplomats for their love for Hindi.

He was responding to a post on X by Australian High Commissioner Philip Green on the occasion of Hindi Diwas on September 14, where he shared clips of his colleagues at the high commission reciting their favourite Hindi proverbs and “dohas”.

“Your recitation of proverbs and “dohas” is mesmerising and your love for Hindi language is quite interesting,” PM Modi said in his post on X.

Hindi Diwas is observed on September 14 every year as it was on this date in 1949 that the Constituent Assembly had unanimously decided that Hindi will be the official language of the country.

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IRGC seizes foreign tankers smuggling fuel in Persian Gulf

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The Deputy Commander of IRGC’s third marine zone reported the seizure of two foreign oil tankers carrying smuggled fuel and the discovery of more than 1.5 million liters of fuel.

Admiral Mohammad-Sharif Shirali said on Thursday evening that the two oil tankers carrying smuggled oil with Panama and Tanzanian flags were seized by the Islamic Revolution Guards Corps (IRGC) Navy.

Admiral Shirali said that 37 crew members of the two vessels were handed over to the judicial authorities to pass the legal procedures.

MNA/Iran Press

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Morocco earthquake: Death toll crosses 1000, efforts to clear roads underway

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It says a thousand tents have been allocated to be transported to Morocco if they receive a request from the authorities in Rabat.

Published Date – 07:56 PM, Sat – 9 September 23


Morocco earthquake: Death toll crosses 1000, efforts to clear roads underway



Marrakesh: The death toll in the powerful earthquake that occurred in Morocco near Marrakesh has reached over 1,000, Al Jazeera reported on Saturday.

Quoting, Moroccan state media, Al Jazeera said, “At least 1,037 have been killed and 1,200 injured in the quake.”

An earthquake of magnitude 6.8 on the Richter scale hit 56 km W of Ouka medene, Morocco late on Friday night, the United States Geological Survey (USGS) reported.

Meanwhile, the efforts to clear roads for search and rescue operations are underway.

The earthquake took place at 03:41:01 (UTC+05:30) at a depth of 18.5 km. The magnitude of the earthquake caused pulses to travel from Sidi Ifni in the south to Rabat in the north and beyond.

The epicentre is 72 kilometres west of Marrakesh, a major economic centre.

According to Al Jazeera, the Turkish Disaster and Emergency Management Department (AFAD) says it has placed two hundred and sixty-five members of medical, relief, and search and rescue agencies on alert, in case it receives a distress call from Morocco.

It says a thousand tents have been allocated to be transported to Morocco if they receive a request from the authorities in Rabat.

Earlier in the day, Prime Minister Narendra Modi expressed grief over the loss of lives in the quake.

Taking to X, PM Modi said, “Extremely pained by the loss of lives due to an earthquake in Morocco. In this tragic hour, my thoughts are with the people of Morocco. Condolences to those who have lost their loved ones. May the injured recover at the earliest. India is ready to offer all possible assistance to Morocco in this difficult time.”

Videos and pictures shared on social media showed mountains of rubble and dust clouds as walls gave way to the earthquake’s intensity. In other posts, frightened locals could be seen fleeing into the street and out of nearby buildings in search of safety.