Macron, Merkel common agenda
France and Germany said to deliver the same messages on trade and Iran’s nuclear deal when they meet US President Donald Trump next week.
French President Emmanuel Macron and German Chancellor Angela Merkel held a news conference after their meeting in Berlin on Thursday.
Macron expressed concern about heavy tariffs imposed by the Trump administration on imports of steel and aluminum.
He said France and Germany respect multilateral frameworks and rules of the World Trade Organization.
Trump is critical of Iran’s missile program and may pull the US out of the international agreement on Iran’s nuclear program.
Macron and Merkel voiced concern about Iran’s missile development. But they said they will urge Trump not to withdraw from the nuclear accord.
G20 FM meeting soon
Finance ministers and central bank governors of the Group of 20 major economies will soon open their meeting in Washington on Thursday.
Participants are expected to call on the United States and China to calmly handle their trade row, which could slow global economic growth.
The administration of US President Donald Trump imposed heavy tariffs on steel and aluminum imports last month. China responded by raising levies on imports from the US.
The head of the International Monetary Fund, Christine Lagarde, spoke at a news conference ahead of the meeting. She cautioned that unilateral import restrictions will not benefit the global economy.
Japan’s delegates at the gathering are Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda.
Japan’s exports are also subject to the high tariffs implemented by the Trump administration.
In his summit with Trump earlier this week, Japanese Prime Minister Shinzo Abe asked him to exempt Japan from the measures.
But Trump apparently wants to use the tariffs as a bargaining chip in urging Japan to reduce its trade surplus with the US.
The Japanese delegates plan to call on the G20 nations to prevent excessive protectionism from adversely affecting free trade frameworks which have been supporting global economic growth.
Diaz-Canel replaces Raul Castro
Miguel Diaz-Canel as the country’s new president, ending nearly 60 years of leadership by the Castro family.
Diaz-Canel took over from Raul Castro in a National Assembly session in the capital, Havana, on Thursday. He had previously served as first vice president.
Octogenarian Raul Castro, along with his older brother Fidel, spearheaded the 1959 revolution, which toppled the pro-US government and established a socialist state.
50 GW – $1000b Li-Ion Battery Storage vs $50b Hydro Power
April19, 2018 (C) Ravinder Singh ravinderinvent@gmail.com
Li-Ion Battery lobby is pushing Battery Operated buses that cost 10 Times the standard Diesel Buses and at renewable energy event offerBattery Storage of Energy along with SolarPV and Wind Energy which cost over 10 Times the cost of a Brand New Hydro Power Project – 40 times cost of adding new Generators at existing Hydro Power Stations.
Cost of 100 MW Battery Storage Unit is $2b [Long Beach Ca.] as such cost of 50,000 MW Battery Storage envisaged for Storing Renewable Energy in India shall be $1000b.
Cost of adding new units to Operating Hydro Power Projects and New Hydro Project mix could be as low as $50b.
This is most Weird because –
1. India already has 200% excess capacity [Generation as Well As EHT & HT Transmission] – average consumption of 100 GW of Power – 345 GW of installed capacity plus 80,000 MW Standby Generators.
2. Digital Communication and Controls ensures ‘1. Stable Grid Supply of Power’, ‘2. Disconnect & Isolate Trouble Spots’ – ‘3. Frequency, Load & Power Factor Control’, ‘4 Better Regulation of Generator Operation’ – ‘5. Back Down of Rural Feeders’ against peak load of 60,000 MW Hydro Capacity is 20,000 MW in Northern Grid.
3. Weak areas are LT Distribution & Maintenance Procedures and Very high transmission line losses in Rural Feeders + Energy Efficiency should be priorities.
SolarPV 5000 MW Dholera Project vs Rural 200 KW-500 KW Units
4. Rural Feeders have extremely high Technical Losses – to Supply 1 Unit of Electricity Discoms may FEED 3-5 Units of Power. So priority of the State Utilities is to Locate SolarPV units on Rooftops or in Farms for onsite generation & Consumption.
5. Rooftop Solar and Farm Solar have no Fuel Consumption – Capital cost is less compared to All Thermal Power Plants that now operate at 50% PLF.
6. States may partner with Farmers or Panchayat – install 200 KW to 2000 KW SolarPV Tracking [2000 Units/KW] at Farms buy Power at Rs.3 Per Unit, Rs.2 to pay installments of Project cost to be FREE in 10 years.
Buses in Delhi
7. Each State [DTC] Operated Bus in Delhi serve 600 Passengers Per Bus – Technically AVOIDING 200 Autos & Cars Use.
8. Diesel Use in Auto Fuels is 84% in Haryana, 75% UP and 60% in Delhi as Per GOI Petrostats – Insistence on CNG Buses in Delhi is most Weird – Doubles service cost – Uberized 2018 Model Diesel Buses & Passenger Vehicles be permitted in Delhi.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770, 9871056471, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
PLDT recorded 8.5 billion pesos ($163 million) losses this Quarter
Philippine telecom leader PLDT recorded 8.5 billion pesos ($163 million) in losses in the fourth quarter of 2017 after booking network upgrade-related costs, dragging down the company’s full-year bottom line by a third. Chief executive Manuel Pangilinan, however, expects the company’s finances to improve this year.
Chief Financial Officer Annabelle Chua told reporters on Thursday after the company released its financial results for last year.
The company is modernizing its network to recover market share it lost to rival Globe Telecom when demand shifted to data from traditional telephone services like long-distance calling and text messaging. Pangilinan last year said PLDT was in a position to regain lost ground as competition turns to fixed-line services, where PLDT has deployed sizable resources.
Notice to Impeach CJI
There is an over whelming political debate of judgment of SC on issue of death of Judge. Politicians are irked and has expressed desire to notice of impeachment in Upper house where this notice may fall due to technical reasons.But it is ploy to generate political pressure for public consumption keeping in mind to the ensuing state and General Elections, thus political opportunity to salvage declining popularity of the opposition .
Congress and other opposition parties submit a notice for impeachment proceedings against Chief Justice of India Dipak Misra. This is the first time in the history of India that a motion for the impeachment of a Chief Justice of India is being presented.
More than 64 MPs belonging to seven political parties have signed the notice for impeachment proceedings against the CJI. The parties include Congress, NCP, CPI(M), CPI, SP, BSP and Muslim League. The parties met Vice President and Rajya Sabha Chairman M Venkaiah Naidu and give notice for impeachment of the CJI.
Addressing a press conference thereafter senior Congress leader Kapil Sibal said, “We have moved a motion for removal of Chief Justice of India under five grounds of misbehaviour: Ghulam Nabi Azad. Questions are being asked about the manner in which CJI has handled certain cases and was exercising powers.
“71 MPs signed the notice for impeachment but seven retired, so the number now is 64. Minimum requirement is 50 members in the Rajya Sabha.
“CJI Dipak Misra violated constitutional norms while exercising his powers. When the SC judges believe judiciary’s independence is under threat, alluding to CJI’s functioning, should we stand still and do nothing?
“We wish this day had never come in the fabric of our constitutional framework. Since the day he (Dipak Misra) was appointed as CJI there have been questions raised in the manner in which he has dealt with certain cases.
“There is no other way to protect the institution except the impeachment motion. We are doing so with a very heavy heart.”
More than 64 MPs belonging to seven political parties have signed the notice for impeachment proceedings against the CJI. The parties include Congress, NCP, CPI(M), CPI, SP, BSP and Muslim League. The parties met Vice President and Rajya Sabha Chairman M Venkaiah Naidu and give notice for impeachment of the CJI.
Addressing a press conference thereafter senior Congress leader Kapil Sibal said, “We have moved a motion for removal of Chief Justice of India under five grounds of misbehaviour: Ghulam Nabi Azad. Questions are being asked about the manner in which CJI has handled certain cases and was exercising powers.
“71 MPs signed the notice for impeachment but seven retired, so the number now is 64. Minimum requirement is 50 members in the Rajya Sabha.
“CJI Dipak Misra violated constitutional norms while exercising his powers. When the SC judges believe judiciary’s independence is under threat, alluding to CJI’s functioning, should we stand still and do nothing?
“We wish this day had never come in the fabric of our constitutional framework. Since the day he (Dipak Misra) was appointed as CJI there have been questions raised in the manner in which he has dealt with certain cases.
“There is no other way to protect the institution except the impeachment motion. We are doing so with a very heavy heart.”
PTI reported that the Trinamool Congress and the DMK, which were initially in favour of the impeachment against the CJI, are no longer part of it.
The impeachment notice comes a day after the Supreme Court rejected a bunch of petitions seeking an independent probe into the death of Judge B H Loya, who was hearing the Sohrabuddin Sheikh encounter case.
The SC judgement was delivered by a bench headed by the Chief Justice of India.
An impeachment motion in the Rajya Sabha has to be supported by a total of at least 50 MPs of the Upper House, while the number of MPs supporting such a motion in the Lok Sabha is 100.
Once the notice for an impeachment motion is submitted to the Rajya Sabha chairman, he will ascertain whether there is merit or ground for moving such a motion.
In case he finds merit, then he may form a committee to look into it, else he can reject it.
The Supreme Court today termed as very unfortunate the public statements, including those made by lawmakers, on impeachment of judges.
“We are all very disturbed about it,” a bench comprising Justices A K Sikri and Ashok Bhushan said after the counsel appearing for the petitioner raised the issue of politicians making public statements on impeachment of judge.
The impeachment notice comes a day after the Supreme Court rejected a bunch of petitions seeking an independent probe into the death of Judge B H Loya, who was hearing the Sohrabuddin Sheikh encounter case.
The SC judgement was delivered by a bench headed by the Chief Justice of India.
An impeachment motion in the Rajya Sabha has to be supported by a total of at least 50 MPs of the Upper House, while the number of MPs supporting such a motion in the Lok Sabha is 100.
Once the notice for an impeachment motion is submitted to the Rajya Sabha chairman, he will ascertain whether there is merit or ground for moving such a motion.
In case he finds merit, then he may form a committee to look into it, else he can reject it.
The Supreme Court today termed as very unfortunate the public statements, including those made by lawmakers, on impeachment of judges.
“We are all very disturbed about it,” a bench comprising Justices A K Sikri and Ashok Bhushan said after the counsel appearing for the petitioner raised the issue of politicians making public statements on impeachment of judge.
Inputs Rediff
Mondial Paris Motor Show October 4 to 14 2018
Paris expo Porte de Versailles
A NEW COMMUNICATION CAMPAIGN FOR THE MONDIAL PARIS MOTOR SHOW
After creating a new graphic identity for all its brands (Mondial Paris Motor Show, Mondial de l’Auto, Mondial de la Moto, Mondial de la Mobilité and Mondial.Tech), the Mondial Paris Motor Show unveils its new advertising campaign. It will be revealed to the general public in the press and on bill boards starting April and aired on TV next September.
With its sober design, this campaign shows with humour and self-mockery – both for the billboard and the TV campaign- different driving habits. Two different design concepts have been imagined, one for the press and billboard campaign, the other for the advertising film. Each concept has been developed as a mini-series.
The visual items of the press and billboard campaign have borrowed their elegant style to the world of luxury. Hands of automobile and motorcycle drivers, both men and women, are showed in driving position. The visitors are thus projected behind the wheel or handlebar of their dream vehicles. The Irish art photographer Cormac Hanley created this 4-poster series especially for the 2018 Mondial Paris Motor Show.
As for the advertising film, it features Stephan Fahr-Becker, an automobile designer passionate of anything on wheels, performing mimes and sounds, pretending alternately to be driving a sports vehicle, an electric car, a motorcycle and a scooter in four different films.
This campaign shows the evolution of automobile shows towards communication. This appears clearly in the many new features of the next edition both in terms of content and experience for the visitors.
Its ambition is also to restore the value and status of the Mondial Paris Motor Show while preserving the passion and emotion which have characterized this historic rendezvous for 120 years.
According to Lucas Mongiello, Art Supervisor at the Havas Paris agency: «This brand campaign focuses on experience; an experience which brings to life imagination and pleasure of driving. For children and adults, whether you love convertibles, sports bikes, electric cars or scooters, the Mondial Paris Motor Show promises to deliver a strong experience of pleasure and emotion. » « Manners matter. Good looks are bonus. Humour is a must. »
A new website for a renewed experience! For its 120th anniversary, the Mondial Paris Motor Show offers its visitors a new, modern and complete website. It integrates social networks and reaches out to web users who will have the possibility of choosing between their passions: Mondial de l’Auto, Mondial de la Moto, Mondial de la Mobilité. In addition to the usual features of the website – useful information, maps, news, happenings, ticket sale- many new features will be available such as the section “120 years of innovation” presenting the History, posters and pictures of the Show. Carefully designed Exhibitor pages will be available to all visitors who will discover the events organised by the makes as well as all their models. They will also be able to book their test drives… And, for the first time, visitors will have the possibility of creating a personal “My Paris Motor Show” space: the best way of preparing their visit by downloading their own ideal tour of the Show! Visitors will thus receive all necessary information and will have the chance to participate in many games. They will also have access to our good deals available on the Mondial Paris Motor Show.
Social Footprints National CSR Summit & Awards 2018
CMAI Association of India and CIM Global cordially invites you as our VIP delegate in –
Social Footprints National CSR Summit & Awards 2018
at
Committee Room – D
Vigyan Bhawan, Annexe, New Delhi
27th April 2018, 09.00 AM Onwards
The Summit will be graced by:-
· Hon’ble Shri Shekhar Dutt, Ex. Governor of Chhattisgarh State, Deputy National Security Advisor of India, Defense Secretary of India
· Hon’ble Shri Arvind Chawla, Deputy Director General [DDG(AS)], Ministry of Communciation, Department of Telecommunication
· Hon’ble Shri R. K. Pathak, Deputy Director General [DDG(IC)], Ministry of Communciation, Department of Telecommunication
· Hon’ble Dr. Manpreet Singh Manna, Director of AICTE & Director (PMSSS & SWAYAM).
· Hon’ble Dr. Ashutosh Karnatak, Director Projects, Gas Authority of India Limited (GAIL)
· Hon’ble Shri Ashutosh Vasant, CMD and Director (POM), RailTel Corporation of India Ltd.
· Mr. Sune Kaur Pedersen- Counsellor, Denmark Embassy
Request please join for Morning networking tea along with lunch. Please note this is a personal invitation without any financial obligations from your side.
This is first of its kind and will be attended by eminent Personalities in CSR Sector and Leaders from Social Arena. The summit will be joined by speakers from different backgrounds and will share their thoughts on Corporate social responsibility and sustainability practices, CSR innovation and opportunities, Changing the world with CSR, Importance of CSR activity in Startups.
Draft Agenda for the program is given at https://goo.gl/T3py9e
We personally request to please give confirmation on email (So that we can send E-Invite Cards for your kind perusal to be shown at Entry Gate in Vigyan Bhawan).
This is a unique platform to get connected with Corporates, NGO’s, Institutions etc who have done excellent work in CSR pan India there you can meet with decision makers, Government representatives available at one single point.
Brief Agenda for the Summit –
09.00-10:00 : Registration with Networking Tea
10:00-12:00 : Chief Guest Arrival and Main Program Commences
12:00-14:00 : Session on CSR practices in India
14.00 : Lunch
You are requested to kindly carry an ID Proof for your smooth entry at the venue.
Details are available at http:// nationalcsrleadershipsummitand awards.com/ Request to please send confirmation by email.
In case you have any queries or seek any clarifications, please call Mr. Navtesh at +91 9711 869 771.
We look forward to welcoming you on 27th April, 2018, 9.00 AM onwards
Warm regards
Prof N K Goyal
President CMAI Association of India, Chairman Emeritus TEMA
Opening CHOGAM MEET
His Royal Highness Prince of Wales welcomed Commonwealth leaders from 53 countries to the formal opening to the meeting.
Addressing the meeting, British Prime Minister Theresa May said together the member states can face crucial challenges of the 21st century including climate change.
She called for closer collaboration among Commonwealth countries to improve health and education and create employment opportunities.
Prime Minister Narendra Modi has underlined the importance of looking at the concerns of the small and island states in the Commonwealth.
He announced a number of initiatives in the direction which include doubling of India’s contribution for Common Fund for Sustainable Development Goals, taking up small projects in the small countries through the permanent mission for the UN, capacity building and training programmes in areas including cricket and skill development.
Briefing media in London last night, after the formal executing sessions, Secretary West, Ministry of External Affairs, Ruchi Ghanshyam said that, India focused on achieving sustainable development goals and climate change issues during its interventions at the Commonwealth Heads of Government Meeting, CHOGM, which began yesterday.
Replying to a question, she said promoting youth activities among Commonwealth countries was also focussed and India has announced to provide training to 30 boys and 30 girls cricketers. He further said, the under 16 youth cricketers will be provided training through BCCI.
Meanwhile, on the sidelines of the CHOGM, Prime Minister Modi held a series of bilateral interactions with member-countries including Australia, Bangladesh, South Africa, Gambia, Trindad and Tobago and Mauritius.
External Affairs Ministry official spokesperson Raveesh Kumar said that these interactions and bilateral discussions mainly focused on development, maritime and security concerns of the small states.
The spokesperson said, India and Bangladesh focused mainly on development cooperation during the bilateral talks between Prime Minister Narendra Modi and his Bangladesh counterpart Sheik Hasina.
He said, broad contours of the discussions were the action plans that the two sides agreed during their earlier visits to each other’s country and now discussed their follow-ups and how to further them.
MEA Spokesperson said Prime Minister Narendra Modi did not meet his Pakistani counterpart Shahid Khaqan A
Why OBOR failing?
OBOR: A Chinese Over Burden- Over remodel, A linear investment without any business acumen of developing and developed market the China fast investment to take globe by storm with marketing strategy is actual debt trap for its investment with lots of gestation period and debts ratio could be cumulative in accelerate pace making the OBOR project to slow or no return with banks debt mounting each day.The reports of various projects are here as follows in public domain.
China influence with OBOR cannot flourish unless her policies accommodate and abide International law and conventions followed in true spirit. Her crescendo call need not making rhetoric to be bossy.
China, Xi Jinping chose the Kazakh capital of Astana to announce his grand plan for a “new Silk Road” in September 2013. But nearly five years later, the investment push — now known as the Belt and Road Initiative — has not resulted in much new business for the central Asian nation.
Kazakh government says the two countries have drafted 51 projects worth a total of $27 billion in the energy, mining, infrastructure and other sectors to be carried out by Chinese investors in Kazakhstan between 2016 and 2022. Some of these projects call for companies to move from China to Kazakhstan, but few details have been released.
“The BRI’s impact on the Kazakh economy is limited at the moment because there has not yet been significant investment in specific projects. It has only been intention in the form of memoranda signed,” said Kassymkhan Kapparov, director of the Almaty-based Bureau for Economic Research. “The investment supposed to come from the newly established Asian Infrastructure Investment Bank has not materialized yet, and we don’t see new production facilities appearing in Kazakhstan.”
Kazakh officials hope the country will become part of China’s global production chain, but so far there is no evidence this will happen, said Luca Anceschi, a lecturer in Central Asian studies at the University of Glasgow.
“The government, insisting with its rhetoric of presenting Kazakhstan as a bridge between East and West, has merely reduced Kazakh territory to a conduit for goods produced elsewhere and bound for other markets,” Anceschi said.
Nation next in Line is Poland is seen by investors “as a gateway to the EU — as a window for exporters,” said Krzysztof Senger, executive vice president at the Polish Investment and Trade Agency.
Poland might not be the first country that comes to mind in the context of the BRI. But not only is central and eastern Europe’s largest economy a member of China’s Asian Infrastructure Investment Bank, Poland also holds potential for infrastructure investments — especially in the country’s poorly connected east.
Poland’s Strategy for Responsible Development highlights one area for potential Chinese investment. According to the plan, the country seeks to invest more than 1.5 trillion zloty ($442 billion) from public funds and about 600 billion zloty from private sources in infrastructure and industry projects by 2020s. Yet when the plan was first presented, nearly half of the investments were expected to come from EU funds.
These funds are expected to decrease with the new EU budget, leaving the door open for potential investment from China.
“The EU single market comprises 500 million people, but at the same time, we can finance most [of our projects] on our own or through operational programs backed by EU funds,” Senger said. “The Chinese model of investing in Africa and central Asia is not suited for central and eastern Europe, but we invite Chinese companies and investors to look at the different tenders” in Poland.
Chinese investors is a proposal to create a transportation hub combining several forms of transport such as air, rail and road. This hub is to be built around a new airport, which might be located in Stanislawow, 40km from Warsaw.
The government further seeks to reconstruct several seaports in its quest to turn Poland into a key European logistics center. A second multibillion-dollar project, which the government will seek to finance, is the construction of the country’s first nuclear power plant, according to Zielinski.
CSIS Reconnecting Asia Project, which has compiled a list of key BRI project data across the globe, lists one Polish project as being part of China’s initiative: Wroblew Wind Farm, which Luxembourg-registered private equity fund China-CEE Fund acquired in November 2014 and exited in January 2015.
China’s three largest banks by Tier 1 capital — Industrial and Commercial Bank of China, China Construction Bankand Bank of China — have all opened offices in Warsaw to serve Chinese companies and Polish-Chinese trade. Poland is running a large trade deficit with China, which the government is hoping to reduce in the future.
“Chinese investors take their time and I appreciate that — if you want to build a strong country you have to plan for generations,” said Beata Daszynska-Muzyczka, president of the management board at Bank Gospodarstwa Krajowego, Poland’s development bank. “I strongly believe that we have a number of areas for cooperation, but we may need some time to build our approach to working together.”
Similarly Gwadar port after so much investment the port has not been able to give any considerable momentum to trade between central asian countries and rest of world. Nations needs to have global outlook and trade must flourish with sense of unity to enjoy each other culture along with richness of hospitality respect love for all and broader brotherhood in their thinking. Gwadar’s potential went unrealized for decades, but it is now at the heart of a hugely ambitious plan known as the China-Pakistan Economic Corridor, or CPEC. China has pledged to spend $63 billion to bolster Pakistan’s power plants, ports, airports, expressways and other infrastructure under the initiative, which Beijing positions as one of the pillars of its $1 trillion global Belt and Road Initiative championed by Chinese President Xi Jinping. The gains for China in all of this development are perhaps less visible, but potentially far more significant. A major goal for China is to link its landlocked western region to the port at Gwadar. This would allow ships carrying oil and other goods from the Persian Gulf to avoid the “choke point” of the Strait of Malacca, shaving thousands of kilometers off existing routes frequently patrolled by foreign navies.
Pakistan’s trade deficit with China has been rising, and there are concerns about what happens if it is unable to repay its debt. As with other countries that have benefited recently from Beijing’s largesse, some in Pakistan worry that the price of such investment could be a huge debt burden.
The China-Pakistan corridor “will no doubt be a game changer for Pakistan, but we need to be careful,” said Ehsan Malik, the CEO of Pakistan Business Council, a business policy advocacy forum. “Ten years’ tax concessions, 90-year leases for Chinese companies and cheap imports will impact the competitiveness of existing domestic industries.”
“Gwadar port will be a hub to link Afghanistan and Central Asia, but it is not just a trade and logistics center,” said Dostain Khan Jamaldini, chairman of Gwadar Port Authority. “We will set up an industrial estate with export manufacturing zones, and invite the motorcycle and electronics industries.”
“Gwadar port is not given to China only,” Jamaldini said, stressing the authority’s willingness to welcome U.S., European and Asian companies.
The chairman denied speculation that China could try to make Gwadar a military port in the future. “Gwadar is 100% commercial. If China [has military] needs, we have Ormara naval base near here,” he said. “We have nothing to hide.”
Sri Lanka handed over its southern port of Hambantota to China in December 2017, many saw it as a cautionary tale for other nations that are eagerly accepting Chinese help to build grand infrastructure projects.
The country granted a 99-year lease on the port to China Merchants Port Holdings in hopes of cutting its debt, which is among the highest of the emerging economies. For its part, China gained an important beachhead for its attempt to expand its military influence in the Indian Ocean.
Construction of the $1.5 billion Hambantota Port started in 2008 under former President Mahinda Rajapaksa. The first phase of the project, which ended in 2010, cost $361 million. While details of the second phase are unknown, Export-Import Bank of China financed 85% of the first phase of work.
But as the port’s losses began to mount, the government in Colombo found itself unable to repay its debts. The country had an external debt of $48.3 billion at the end of 2017, and its annual external financing needs are $11 billion — roughly the same as its annual tax revenue. Sri Lanka’s debt to China totals $8 billion and is said to carry an interest rate of 6%.
“We had to take a decision to get out of this debt trap,” said Mahinda Samarasinghe, Sri Lanka’s ports and shipping minister, of the reasoning behind the 99-year lease.
Government critics have said Sri Lanka’s sovereignty has been compromised by the port episode, which came only two months before the former president of neighboring Maldives warned that its debts to Beijing could force the country to cede territory to China as early as next year.
Sri Lanka is located at a strategic point for the BRI. The port of Hambantota is indispensable for China’s energy security because the country imports two-thirds of its oil through shipping lanes south of the port.
Rajapaksa kicked off the construction of Sri Lanka’s second international airport in Mattala, an inland town 20km from the port, in 2009. Of the $209 million construction cost, Exim Bank of China put up $190 million with a concessionary loan. Mattala Rajapaksa International Airport is now called “the world’s emptiest international airport” because it has only four regular flights arriving and departing per week. The Sri Lankan government plans to sell the airport, too.
India is afraid that if the airport is purchased by China, it will become a Chinese air force base. A delegation from India visited the airport last year to discuss taking it over, but an airport official said, “I heard that it was not going well due to a mismatch in conditions from both sides.”
China is also involved in a $15 billion project to build “Port City Colombo” on reclaimed land in the capital. The $1.4 billion first phase of the project is being undertaken by a subsidiary of China Communications & Construction Co., which is shouldering the total cost of reclaiming 269 hectares of land.
Sri Lanka’s debt equals 81.6% of its gross domestic product, which the International Monetary Fund says is the third-highest ratio among emerging economies.
Yet even after the debt problems at Hambantota were clear, China last year proposed to Sri Lanka two joint construction projects around the port: a $3 billion oil refinery and a $125 million cement factory.
To the Sri Lankan government, “there is no country or institution with ready cash other than China,” a senior economic official said.
Bandung, Indonesia’s third-largest city, sits the future site of one of the four stations on the country’s first high-speed railway.
The railway is one of two ongoing projects under the BRI in Indonesia. Launched in January 2016, the planned 142km railway that will connect Jakarta and Bandung was supposed to illustrate China’s expanding economic power and influence. But as of late February, local officials said only 10% of the work had been completed, making it impossible for operations to start next year as scheduled. A funding crunch is also starting to raise concerns over the financial health of Indonesian companies involved.
“After the project launch, there was almost no activity besides the land being cleared,” said local villager Asep as he looked over the construction site at the Walini tea plantation. “No rail tracks. Nothing. Work only restarted around three months ago, for the underground tunnel.”
Paperwork and permit problems halted the project in its first several months, after which land acquisition proved to be a major headache. Only half of total land needed has been secured. Rising land prices during the delays is partially responsible for the project’s growing price tag — from $5.5 billion when it was announced to $6 billion.
Sluggish land acquisition has had other consequences: China Development Bank, which agreed to cover 75% of the cost with loans, has repeatedly delayed disbursement, further hampering progress.
Bangladesh’s experience has been similar. Its BRI projects were given a huge boost by Chinese President Xi’s momentous 2016 state visit — the first by a Chinese head of state in 30 years.
With an initial spike in activity, construction has slowed. “It started off pretty well, but while it’s a bilateral initiative, it’s not really just bilateral. There are other geopolitical issues which can play a part in actual execution. We see a bit of a slowdown,” said Naser Ezaz Bijoy, CEO at Standard Chartered Bangladesh.
The CSIS Reconnecting Asia Project has identified three key BRI projects in Bangladesh: the Dhaka-Jessore rail line, the Payra power plant and the Karnaphuli Tunnel — the country’s first-ever underwater tunnel. Chinese development banks dominate the projects’ financing, while Chinese contractors often take over the construction process.
Construction has already started for the $1.65 billion coal-fired power plant by the port of Payra. The plant is a joint venture involving Chinese power company CMC and Bangladesh’s state-owned North-West Power Generation Co. While the equity will be split in half, the project’s financing is fully provided by China. The plant is scheduled to be operational by December 2019.
$4.4 billion Dhaka-Jessore rail line is still in its preparatory phase. Announced in 2016, the line is expected to launch in 2022. State-owned China Railway Construction is the project’s contractor.
The construction stage for the Karnaphuli Tunnel is less clear. State-owned China Communications Construction Co.signed a $705 million contract with the Bangladesh Bridge Authority back in 2015. But in November 2017, Bangladeshi newspaper Financial Express reported that construction work had not started because the BBA was waiting for the Exim Bank of China to release funds for the project.
Whatever the delay, Bijoy notes that the two countries are a good fit. “China has overcapacity onshore and it’s not growing as fast as it did in the past, so it would require external demand to support its production. Countries like Bangladesh growing at 7% will have that demand.”
A BRI rail project in Laos is further along. Construction of a 414km railway linking Vientiane, the capital, to the China-Laos border is scheduled to be completed in December 2021.
Laos, China has for many years had a strategy to use its railway system to drive into Southeast Asia to bind these countries to China,” said James Stent, who served for 13 years on the boards of China Minsheng Bank and China Everbright Bank in Beijing.
There are complaints among Laotians that the labor on the rail line is predominantly Chinese, detracting from any knock-on benefits to the economy. Development banks worry that the $6 billion rail project will exacerbate Laos’ already precarious debt levels, which reached 68% of GDP in 2016, increasing the debt distress level from “moderate” to “high” in the recent World Bank/IMF Debt Sustainability Analysis. Laos’ budget deficit in 2017 was 4.8% of GDP, compared with 4.6% in 2016.
China need to work first with her fourteen border, neighboring states with policy of friendship not inimical relation or statement but to sort out and fix border differences and then can start trading in environment of equal status.
Secondly language is big barrier with Chinese not singularly spoken but multiple local diction therefore at International lanuage comes as big bottleneck to chase trading terms.
Naturally nation need cooperating at all level of people to people contact with human behaviour index to its best to reap fruits of trading by OBOR or silk route as name suggest Quality of products to be as in ancient times the quality of silk, best in world.
Earth Day 2018
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Arizona special Naresh
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Big news on the Arizona special election, Naresh:
Internal polling from the Democratic candidate, Dr. Hiral Tipirneni, shows her TIED 44-44 with her opponent. This would have been unthinkable just a couple weeks ago, but this is the second poll this week that puts her at a statistical tie. Winning in AZ-08 won’t be easy — but with just five days left until the election, we need to give this everything we’ve got. Contribute $10 to split a donation between Dr. Hiral Tipirneni’s campaign and the DNC right now. Your support will help send Hiral to the House and elect Democrats in all 50 states this year.
This special election is a huge opportunity to shock the GOP — just like we did last month by electing Conor Lamb in PA-18. The Arizona race was never supposed to be this close, but Hiral is running a competitive campaign to fight for every vote, and it’s paying off.
These final days before the election will determine the outcome of this race — and there’s no better time than right now to show you stand with Hiral. Split a $10 contribution between Dr. Hiral Tipirneni’s campaign and the DNC today. Together we will turn AZ-08 blue and elect Democrats nationwide. Thanks for stepping up ahead of this important special election. Kristin Kristin Avery Western Regional Director Democratic National Committee |
Shamim khan leads
Shamim Khan’s 65 catapults him into the lead in round three of Paramount GolfForeste Delhi – NCR Open Golf Championship 2018
Delhi, April 19, 2018: Delhi’s Shamim Khan, the 2017 PGTI Order of Merit champion, shot a scorching seven-under-65 that catapulted him into the lead in round three of the inaugural Paramount GolfForeste Delhi – NCR Open Golf Championship 2018.
Shamim’s 65, the day’s best score, took his total to 10-under-206 at the Noida Golf Course thus giving him a one-shot advantage ahead of the final round.
There was a three-way tie for second place between Delhi’s Honey Baisoya (68), Om Prakash Chouhan (70) of Mhow and Kolkata’s Shankar Das (69) at nine-under-207.
Shamim Khan (69-72-65), lying overnight tied eighth, gained seven spots on day three thanks to his much improved putting. Khan, a winner of 15 professional titles, recently changed his putter and the results were there to see as he made a number of putts from a range of eight to 12 feet during his third round of 65 that featured eight birdies and a bogey.
The 39-year-old Shamim who signed off round three with a birdie on the last hole is currently in sixth place on the PGTI Order of Merit as a result of four top-10s from six starts. In round four, he will look to capitalize on his enviable record at the Noida Golf Course, a venue where he has registered two wins in the past.
Shamim said, “The change in putter has really improved my putting average since last week’s event in Pune. Prior to that, I wasn’t converting as my putts as I would’ve liked. My hitting has been quite consistent for a long while though.
“My game began to get back on track in the last two rounds in Pune when I closed the week with a five-under and a four-under. I’m now happy to be in contention at one of my favourite venues once again.”
Honey Baisoya began the day with a chip-in for eagle on the first. He then went on to add another eagle on the 17th along with three birdies and three bogeys for a round of 68. Baisoya, the current PGTI Order of Merit leader and a two-time winner at Noida Golf Course, thus jumped up two positions to tied second.
Round two joint leader Om Prakash Chouhan and Shankar Das, who was overnight third, both made promising starts with three birdies on the first four holes. However, Chouhan and Das ended the day with scores of 70 and 69 respectively, to be placed tied second.
Ramesh Kumar of Faridabad was in fifth place at eight-under-208 after a third round effort of 68.
Chandigarh’s Karandeep Kochhar, the joint round two leader, dropped to tied eighth after a 74 that moved his total to five-under-211.
Simarjeet Singh, the only amateur to make the cut, was the best-placed among the golfers from Noida as he occupied tied 15th place at two-under-214.
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