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Capitol violence: World leaders appalled by US rioting, urge peaceful transfer

Lanka Talents Creation — Thu, 07 Jan 2021 08:47:24 +0000

Here are reactions from around the world:

UNITED NATIONS SECRETARY-GENERAL

UN Secretary-General Antonio Guterres was “saddened” by the events at the U.S. Capitol, his spokesman said.

“In such circumstances, it is important that political leaders impress on their followers the need to refrain from violence, as well as to respect democratic processes and the rule of law,” UN spokesman Stephane Dujarric said in a statement.

SWEDEN

Swedish Prime Minister Stefan Lofven in a tweet described the scenes as “an attack on democracy”. “President Trump and many members of Congress bear significant responsibility for what’s now taking place. The democratic process of electing a president must be respected.”

UNITED KINGDOM

British Prime Minister Boris Johnson in a tweet called the events in the U.S. Congress a “disgrace”, saying the United States stood for democracy around the world and that was it was “vital” now that there should be a peaceful and orderly transfer of power.

GERMANY

German Foreign Minister Heiko Maas said democracy’s enemies would be cheered by scenes of violence at the United States Capitol, and he called on Trump to accept U.S. voters’ decision.

In a Tweet, Maas said the violence had been caused by inflammatory rhetoric. “Trump and his supporters must accept the decision of American voters at last and stop trampling on democracy.”

RUSSIA

“Quite Maidan-style pictures are coming from DC,” Russia’s deputy U.N. Ambassador Dmitry Polyanskiy posted on Twitter, referring to protests in Ukraine that toppled Russian-backed President of Ukraine Viktor Yanukovich in 2014.

“Some of my friends ask whether someone will distribute crackers to the protesters to echo Victoria Nuland stunt,” he said, citing a 2013 visit to Ukraine when then-U.S. Assistant Secretary of State Victoria Nuland offered food to protesters.

AUSTRALIA

Australian Prime Minister Scott Morrison described the scenes in Washington as “distressing.” “We condemn these acts of violence and look forward to a peaceful transfer of Government to the newly elected administration in the great American democratic tradition,” he posted on Twitter.

NATO

NATO Secretary-General Jens Stoltenberg called the violent protests in Washington “shocking scenes” and said the outcome of the democratic U.S. election must be respected.

SPAIN

Spanish Prime Minister Pedro Sanchez said in a tweet: “I am following with concern the news that are coming from Capitol Hill in Washington. I trust in the strength of America’s democracy.

“The new Presidency of @JoeBiden will overcome this time of tension, uniting the American people.”

CANADA

Canadian Prime Minister Justin Trudeau expressed his concern about events in Washington. “Obviously we’re concerned and we’re following the situation minute by minute,” Trudeau told the News 1130 Vancouver radio station. “I think the American democratic institutions are strong, and hopefully everything will return to normal shortly.”

Foreign Minister Francois-Philippe Champagne on Twitter: “Canada is deeply shocked by the situation in Washington DC. The peaceful transition of power is fundamental to democracy – it must continue and it will. We are following developments closely and our thoughts are with the American people.”

NEW ZEALAND

New Zealand Prime Minister Jacinda Ardern said on Twitter: “Democracy – the right of people to exercise a vote, have their voice heard and then have that decision upheld peacefully should never be undone by a mob. Our thoughts are with everyone who is as devastated as we are by the events of today. I have no doubt democracy will prevail.”

FINLAND

Finnish Prime Minister Sanna Marin said in a statement: “The attack on Capitol Hill in Washington DC is a very serious and worrying matter. It shows how important it is to firmly and strongly defend democracy at all times.”

TURKEY

Turkey’s foreign ministry issued a statement expressing concern about the violence and called for calm and common sense while urging its citizens to avoid crowds and the protest area.

FRANCE

French Foreign Minister Jean-Yves Le Drian said on Twitter: “The violence against the American institutions is a grave attack on democracy. I condemn it. The will and the vote of the American people must be respected.”

EUROPEAN UNION

Charles Michel, chairman of EU leaders, on Twitter expressed his shock at the scenes in Washington. “The US Congress is a temple of democracy…We trust the US to ensure a peaceful transfer of power to @JoeBiden”

European Commission President Ursula von der Leyen said: “I believe in the strength of US institutions and democracy. Peaceful transition of power is at the core. @JoeBiden won the election. I look forward to working with him as the next President of the USA.”

VENEZUELA

Venezuelan Foreign Minister Jorge Arreaza tweeted: “Venezuela expresses its concern for the violent events that are taking place in the city of Washington, USA; condemns the political polarization and hopes that the American people will open a new path toward stability and social justice.”

NORWAY

Norwegian Prime Minster Erna Solberg posted on Twitter: “This is an unacceptable attack on the U.S. democracy. President Trump is responsible for stopping this. Scary images, and unbelievable that this is happening in the United States.”

IRELAND

Ireland’s foreign minister Simon Coveney called the scenes in Washington “a deliberate assault on Democracy by a sitting President & his supporters, attempting to overturn a free & fair election! The world is watching! We hope for restoration of calm.”

ARGENTINA

Argentine President Alberto Fernandez tweeted: “We express our condemnation of the serious acts of violence and the affront to Congress that occurred today in Washington DC. We trust that there will be a peaceful transition that respects the popular will and we express our strongest support for President-elect Joe Biden.”

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Qatar, US jointly conduct aerial refuelling

Lanka Talents Creation — Thu, 31 Dec 2020 03:02:49 +0000

QNA

Qatar Amiri Air Force conducted an aerial refuelling exercise with the US Air Force. The Rafale aircraft of the Qatar Amiri Air Force were refuelled in the air by the US Air Force KC-135 Stratotanker aerial refuelling aircraft.

This is the first aerial refuelling exercise conducted between the two friendly countries, and it reflects the practical side of the strategic partnership between Qatar and the US.

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HSBC share price rockets 50% since its 25-year low

Lanka Talents Creation — Thu, 03 Dec 2020 04:37:46 +0000

The UK’s biggest bank has been under increasing regulatory and economic pressure in its key markets, including Europe and Asia.

But since September its fortunes have changed with its shares rising by more than 50% in Hong Kong and 48% in London, where it is listed.

Headquartered in London, more than half of HSBC’s profits come from Asia.

Although this quarter has been a strong one for the bank’s dual-listed share price, it is still down about one-third since the start of the year.

What has changed?

In October, HSBC recorded better-than-expected third quarter results on cost savings.

Despite profits being down 46%, its operations in Asia “continued to perform resiliently” with pre-tax profits of $3.2bn (£2.4bn).

Last month, HSBC surged as much as 8% on optimism that it may soon resume paying dividends.

“Now is the time for financials to shine and it seems HSBC is at the top of many lists since they have done enough to restart their dividend,” says Edward Moya at trading firm Oanda.

Investors have also been more positive on financial stocks in general with hopes that a Covid-19 vaccine will boost the global economy.

“The top banks will all benefit from a strong global economic recovery that will boost jobs, credit card spending, and drive business lending,” Mr Moya added.

HSBC’s fortunes have further improved on expectations that President-elect Joe Biden will take a softer stance on China following rising tensions and a US trade war that began in 2018.

Incumbent Donald Trump has been keeping the pressure on China, and on Wednesday the Senate passed a bill that places restrictions on Chinese firms listing in the US.

Cost-cutting

HSBC is currently pushing ahead with major restructuring of its global banking operations.

Chief executive Noel Quinn said the bank would “accelerate” an earlier restructuring plan, which includes the axing of 35,000 jobs.

It is also weighing up a complete exit from retail banking in the US to focus on its more profitable businesses in Asia, according to sources quoted by the Financial Times.

Mr Quinn has pledged to go “further and faster on our cost and risk-weighted asset reduction programmes”, after setting aside $7.7bn for potential loan losses during the pandemic.25-year low

In September, HSBC’s share price fell to its lowest level since 1995 amid allegations of money laundering.

In 2013 and 2014 the bank allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show.

HSBC says it has always met its legal duties on reporting such activity.

The bank also became embroiled in a political battle over its support of China’s national security law in Hong Kong. leading it be lambasted by both the US and UK.

By: _BBC bussiness

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China-US trade war: Beijing escalates tit-for-tat with Washington

Lanka Talents Creation — Tue, 01 Dec 2020 05:10:37 +0000

The rules primarily focus on the export of military technologies and other products that might harm China’s national security.

The export controls are widely believed to be in response to similar actions by the US.

TikTok, Huawei and Tencent are among the casualties of Washington’s Chinese technology crackdown.

There are concerns the new regulations, which came into effect on Tuesday, could escalate the ongoing trade war with the US.

Trade tensions between the world’s two biggest economies began in 2018 but have ramped up this year.

Tech cold war

President Donald Trump’s administration has introduced executive orders against a range of Chinese firms arguing they could share data with the Chinese government.

China’s new export laws are “a reaction to this escalation of the tech war and it’s China looking to cover its own advantages”, said Alex Capri, visiting professor at the National University of Singapore.

Speaking on BBC’s Asia Business Report, Mr Capri added: “The other thing I find really interesting is China has placed AI and algorithms under these export controls.

“This was prompted by the US ban on TikTok. The Chinese government does not want to share this AI.”

Mr Capri believes the ongoing trade war between the US and China will follow the “same trajectory” under Joe Biden. “We’re in a cold war with China – it’s a tech cold war,” he said.

What do the new laws do?

The Export Control Law establishes several categories of “controlled items”, which include nuclear, military items and “dual use” items that can be used for both civilian and military purposes.

The law also covers items that are considered vital to the protection of China’s national security.

Exporters must apply for a license in order to export any item listed on a control list or subject to temporary controls.

Data associated with the controlled items is also covered by the law.

The law imposes penalties of ten times the value of the offending transaction up to $760,000 (£569,000).

It also allows for the punishment of overseas organisations or individuals, suggesting Beijing might attempt to use it to restrict the sale of sensitive technology globally.

Rare earth

Prices for rare earth minerals have increased in anticipation that the law could affect their export.

China is the world’s biggest supplier of rare earth minerals, which are used in products ranging from consumer electronics – like smart phones – to wind turbines.

“China has a massive overwhelming advantage when it comes to rare earths,” said Mr Capri. “Essentially, over the past 30 years, the ability to extract rare earths lies with China. It’s going to be hugely important when it comes to jet fighters, automotive, etc.”

By BBC Business News.

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