Akashvani , National news, All India Radio News

NAMASKAR! A warm welcome to 'World News: an Indian perspective on All India Radio. This is SAIRA MUJTABA and with me is NIHARIKA BHUWANIA bringing glimpses of the major developments of the day from across the globe. Over the next half an hour, we shall bring to you the latest from the world of politics, economy, sports, entertainment and more.

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THE HEADLINES:

⦁ India's Prime Minister Narendra Modi says improving air connectivity and creating new airports is the need of the hour.

⦁ India's Vice President Jagdeep Dhankhar reaches Cambodia to attend ASEAN-India Summit and East Asia Summit.

⦁ New Delhi calls for addressing global economic challenges in a coordinated manner.

⦁ Israel’s President Isaac Herzog announces to invite Benjamin Netanyahu to form next government on Sunday.

⦁ International oil prices jump by more than three percent after health authorities in China ease Covid curbs.

⦁ And, in Asian Boxing Championships, Indian women pugilists bag four gold medals and one silver.

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PM-BENGALURU

Prime Minister Narendra Modi conveyed his clear intentions to transform social infrastructure, improve connectivity and modernise the Indian Railways. He was addressing a public gathering in Bengaluru  after flagging off South India’s first Vande Bharat Express train today. He also inaugurated the second Terminal of Bengaluru International Airport and unveiled 108-feet tall bronze statue of Nadaprabhu Kempegowda in Bengaluru. He said in the next 10 years, Vande Bharat trains will signify a new look and identity of the Indian Railways, as part of which, railway stations are being modernised and freight corridors being developed. He said air connectivity is also seeing transformation. The number of airports in India has gone up from 70 to 140. Saying that connectivity will play a crucial role in India’s development, he noted that airports will increase business potential and offer opportunities to the youth. He said, improving air connectivity and creating new airports is the need of the hour.  

The Prime Minister laid emphasis on developing Bengaluru along the vision of Nadaprabhu Kempegowda, who laid the foundation for building Bengaluru city in 1537.

Mr Modi said Karnataka attracted the highest Foreign Direct Investment last year, and is a manufacturing hub for aircraft and spacecraft.

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PM-GANDHI GRAM

The Prime Minister says Gandhian values are relevant at all times. Addressing the convocation ceremony of Gandhigram Rural Institute at Dindigul in Tamil Nadu, he said the nation's development depends on the youth.

Mr. Modi said India has become self-sufficient in the manufacturing sector. He said Mahatma Gandhi's teachings are relevant in today's world. He recalled Mahatma's visit during the inauguration of the Gandhi Gram Institute. Mr. Modi conferred honorary doctorate on music maestro Ilayaraja and instrumentalist Umayalpuram Sivan during the event.

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PM - G20

India's Prime Minister Narendra Modi will visit Indonesia from 14th to the 16th of this month to attend the G20 Summit in Bali. During the Summit, G20 leaders will deliberate extensively upon key issues of global concern under the Summit's theme of Recover Together, Recover Stronger.

Briefing media in New Delhi, External Affairs Ministry spokesperson Arindam Bagchi said three working sessions will be held as part of the Summit agenda, including on Food and Energy Security, Health, and Digital Transformation. At the closing session of the Summit, Indonesian President Joko Widodo will symbolically hand over the G20 presidency to Prime Minister Narendra Modi. India will formally assume the presidency of the G20 from the 1st of December this year.

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HOTSPOT

In today's Hotspot Section, we bring to you news commentary of Highlights of PM’s Inaugural Address at unveiling of G-20 logo website and Theme.

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VP-CAMBODIA

India's Vice President Jagdeep Dhankhar has arrived in Cambodia to attend the 19th ASEAN-India Summit and 17th East Asia Summit. He is accompanied by External Affairs Minister Dr. S. Jaishankar. During the visit, Mr Dhankar will attend the ASEAN-India Commemorative Summit in Phnom Penh on Saturday. This year marks the 30th anniversary of ASEAN-India relations and is being celebrated as the ASEAN-India Friendship Year.

The Vice President will also have bilateral engagements with the Cambodian leadership and the leaders from other countries. He will also visit Siem Reap to review the preservation and restoration work being undertaken by India at Cambodian heritage sites.

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ASEAN-INDIA

The year 2022 has been declared as the ASEAN-India Friendship year, as ASEAN and India commemorate 30 years of partnership. A series of events has been planned to celebrate the occasion throughout the year. As a part of this programme, Indian media delegation is on a visit to Singapore and Cambodia under the ASEAN-INDIA Media exchange programme from 8th November to 13th November.

On the first leg of the visit the delegation visited the Singapore India Chambers of Commerce and Industries (SICCI) and had an exchange of thoughts on topics such as India-Singapore relations with a specific focus on business friendly policies and the expectations of business community in Singapore from India. The delegation also called on the Indian High Commissioner to Singapore Mr. P. Kumaran and got a detailed understanding about how the strategic partnership between India and Singapore has shown its resilience and both sides look forward to further strengthening this important relationship.

The delegation interacted with the officials of the Ministries of Foreign Affairs and Communication & Information of Singapore to understand the media landscape in Singapore and the kind of challenges Singapore goverenment faces in timely communicating the correct perspective of people friendly policies to their citizens.

After the first leg of visit, the delegation has reached Combodia. As a precursor to the visit of the Vice President of India to Cambodia for the ASEAN Summit, the delegation visited the Angkor Vat and Ta Prohm temple complexes and witnessed the prominent role played by the Government of India and Archeological Survey of India in  restoring these UNESCO World Heritage sites there. Vice President would be inaugurating the newly restored portions of the Ta Prohm temple complex during the visit.

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NIRMALA-YELLEN

India's Finance Minister Nirmala Sithraman has said that QUAD and Indo-Pacific Economic framework have further expanded cooperation between India and the United States. She said, India deeply values the relationship with the US as a trusted partner.

In her opening remarks at the ninth meeting of India-US Economic Financial Partnership in New Delhi on Friday, the Minister stressed on the need to address the global economic challenges in a more coordinated manner.

Speaking on the occasion, US Treasury Secretary Dr. Janet Yellen said, strong trade, investment and people-to-people ties make bilateral, economic and financial relationships, a critical element to India-US partnership. She said, the United States is eager to discuss its shared priorities as India assumes the G20 presidency.

During the meeting, both sides will discuss issues of mutual interest including climate finance, multilateral issues, India-US cooperation at G20 under India's Presidency, taxation, supply chain resilience, global economy and macroeconomic outlook.

Earlier, speaking at the Microsoft India Development Center, Dr. Yellen backed India's Prime Minister Narendra Modi’s remarks on the Russia-Ukraine conflict saying that Mr Modi was right when he had said that this is not an era of war. She said, India is among the fastest growing major economies of the world and the US focus is on deepening shared economic interests including fuel trade.

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ISRAEL PREZ-PM

Israel’s President Isaac Herzog announced on Friday that he will invite Benjamin Netanyahu to form the next government. It will pave the way for Netanyahu to take Israel’s top job for a record sixth time and extend his record as the nation’s longest-serving leader. Herzog said he will officially issue the mandate to Netanyahu on Sunday. Herzog made the announcement after meeting with all the factions in parliament, the Knesset, to ask who they would back for the Prime Minister.

In a statement released by his office, he said that at the end of the round of consultations, 64 members of the Knesset recommended to the President the chairman of the Likud faction, MK Benjamin Netanyahu. He added that 28 Knesset members recommended outgoing Prime Minister Yair Lapid. The same number chose not to recommend anyone. Herzog will meet with Netanyahu at the president’s residence on Sunday to formally give him the mandate.

Under Israeli law, Netanyahu will then have 28 days to form a new government, with the possibility of a 14-day extension if required.

In Israel elections were held on 1st of November to elect the 120 members of the 25th Knesset.

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BIDEN-COP27

US President Joe Biden arrived on Friday in Egypt to attend the UN climate conference, known as COP27, in the resort town of Sharm el-Sheikh. It is the first stop on an around-the-world trip that will also take him to a meeting of Southeast Asian leaders in Cambodia and a Group of 20 summit for leaders of the world’s largest economies in Bali, Indonesia. Biden boarded Air Force One late Thursday. At the climate conference, Biden will discuss a new supplemental rule that cracks down on methane emissions, expanding on a similar regulation his administration released last year.

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COP 27 -METHANE

The UN’s environment watchdog said on Friday it will launch a public database of global methane leaks detected by space satellites - part of a new program to encourage companies and governments to curb emissions of the powerful greenhouse gas. The system, dubbed MARS or Methane Alert and Response System, will build on a pledge signed by 119 countries since last year to cut methane emissions by 30 percent this decade, a goal scientists say is crucial to averting extreme climate change. In a statement issued at the COP27 climate summit in Egypt, Inger Andersen, executive eirector of the UN Environment Program said that the Methane Alert and Response System is a big step in helping governments and companies deliver on this important, short-term climate goal. He said reducing methane emissions can make a big and rapid difference, as this gas leaves the atmosphere far quicker than carbon dioxide.

Methane, which has a much higher warming effect than carbon dioxide during its short lifespan, is responsible for about a quarter of the global rise in temperatures so far, scientists say.

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US-LOANS

In the United States, a judge in Texas on Thursday blocked President Joe Biden’s plan to provide millions of borrowers with up to 20,000 dollars apiece in federal student-loan forgiveness. The program is already on hold as a federal appeals court in St. Louis considers a separate lawsuit by six states challenging it. District Court Judge Mark Pittman, an appointee of former President Donald Trump based in Fort Worth, said the program usurped Congress’ power to make laws. Pittman wrote that the US is not ruled by an all-powerful executive with a pen and a phone. He said, instead, we are ruled by a Constitution that provides for three distinct and independent branches of government.

The debt forgiveness plan would cancel 10,000 dollars in student loan debt for those making less than 125,000 dollars or households with less than 250,000 dollars in income.

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CHINA-COVID-RESTRICTIONS

Travelers arriving in China will spend less time in quarantine under changes to sweeping anti-virus controls announced Friday to reduce disruptions to the economy and society. The announcement came as an upsurge in COVID-19 cases prompted Beijing to close parks and impose other restrictions. The country reported 10,729 new cases, and more than five million people were confined to their homes in the southern manufacturing hub of Guangzhou and the western megacity of Chongqing.

With the bulk of Beijing’s 21 million people undergoing near-daily testing, another 118 new cases were recorded in the sprawling city. Many city schools switched to online classes, hospitals restricted services and some shops and restaurants were shuttered with their staff taken to quarantine.

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OIL PRICES

Oil prices jumped by more than three percent on Friday after health authorities in China eased some of the country's heavy COVID curbs. It  raised hopes for improved economic activity and demand in the world's top crude importer. Brent crude futures rose 2.89 dollars, or 3.1 percent, to 96.56 dollars a barrel, extending a 1.1 percent rise from the previous session. U.S. West Texas Intermediate crude futures gained 3.24 dollars  or 3.8 percent, to 89.71 dollars a barrel, after climbing 0.8 percent in the previous session.

The easing curbs include shortening quarantine times for close contacts of cases and inbound travellers by two days, as well as eliminating a penalty on airlines for bringing in infected passengers.

Prices also picked up on Friday after milder-than-expected US inflation reinforced hopes that the Federal Reserve would slow down rate increases, boosting chances of a soft landing for the world's biggest economy.

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WORLD NEWS CAPSULE

The Sensex and the Nifty on Friday surged around two percent. Both indices climbed amid positive cues from global share markets. The Sensex closed near 61,800 points while the Nifty settled above 18,300 level. The rupee witnessed the biggest single day recovery in nearly four years. A report from the business desk:

BUSINESS

The Sensex rose 1181 points, or 1.95 percent, to finish at 61,795. The Nifty also jumped 322 points, or 1.78 percent, to end at 18,350. At global stock markets, Asian stocks witnessed gains following robust gains in the US stocks amid easing October inflation in the United states. Hong Kong’s Hang Seng index jumped 7.7 percent and South Korea’s KOSPI ended 3.4 percent. Japan's NIKKEI-225 climbed three percent while China’s Shanghai Composite index and Singapore’s Straits Times index, both rose 1.7 percent each. European shares were mixed in intra-day trade. Back Home, At the Multi Commodity Exchange, Gold futures for December were trading at 52,385 rupees per ten grams. Silver futures for December was trading at 61,855 rupees per kilogram.In the forex market, the rupee witnessed the biggest single day recovery in nearly four years as it added one rupee against the US currency. The domestic unit closed at 80 rupees and 81 paise against the US dollar.Arjun Choudhari for World News, All India Radio.

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FACEBOOK

Facebook parent Meta is laying off 11,000 people. It is about 13 percent of Meta's workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic. Zuckerberg said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic lockdowns ended.

Meta, like other social media companies, enjoyed a financial boost during the pandemic lockdown era because more people stayed home and scrolled on their phones and computers. But as the lockdowns ended and people started going outside again, revenue growth began to falter.

Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm.

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NASA-WREAKAGES

In the United States, divers from a documentary crew looking for the wreckage of a World War Two aircraft off the coast of Florida found a 20-foot section of the space shuttle Challenger, which exploded and broke apart shortly after its launch in 1986, NASA said on Thursday. NASA administrator Bill Nelson said in the statement that this discovery gives them an opportunity to pause once again, to uplift the legacies of the seven pioneers they lost, and to reflect on how this tragedy changed them. The divers were exploring the sea floor off Florida as part of a History Channel documentary.Nelson said the NASA was trying to determine whether to recover the wreckage and what additional actions it may take regarding the artifact that will properly honor the legacy of Challenger's fallen astronauts and the families who loved them.The Challenger erupted into a ball of flame 73 seconds after lifting off from Kennedy Space Center on Jan. 28, 1986. All seven crew members were killed, including school teacher Christa McAuliffe.

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JAPAN-US EXCERCISE

The Japanese Self-Defence Forces and the US Military on Thursday launched a joint military exercise, titled 'Keen Sword', to boost their operational capabilities snd readiness with an eye on China, the Kyodo News agency reported. This exercise is scheduled to conclude on November 19 and involves around 26,000 personnel from the Japanese ground, maritime and air self-defence forces. Also, as many as 10,000 US soldiers, including those from the elite 'Space Force' are also involved in this exercise.

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BOXING

In the Asian Boxing Championships in Amman Jordan, Indian woman pugilists Praveen Hooda, Lovlina Bogohain and Saweety Boora, Alfiya Khan have claimed gold medals. Where as Minakshi on the other hand, concluded her maiden Asian Championships campaign by clinching a silver medal.

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FPR

Now let us take a look at the major developments around the world, as reported in the Foreign Press.

⦁ The Financial Times reports that Sam Bankman-Fried’s 32 billion dollar FTX crypto empire files for bankruptcy.

⦁ The Guardian reports US President Biden to meet Chinese President Xi Jinping at G20 in first face-to-face talks as President.

⦁ The Wall Street Journal reports that Israel’s Netanyahu Set to Get Mandate to Form His Sixth Government.

⦁ The Washington Post writes that President Biden says US will ‘do our part to avert’ a ‘climate hell’.

⦁ Japan Times opines that G20 leaders set for high-stakes summit amid war, rivalries and food insecurity.

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REPEAT HEADLINES

⦁ India's Prime Minister Narendra Modi says improving air connectivity and creating new airports is the need of the hour.

⦁ India's Vice President Jagdeep Dhankhar reaches Cambodia to attend ASEAN-India Summit and East Asia Summit.

⦁ New Delhi calls for addressing global economic challenges in a coordinated manner.

⦁ Israel’s President Isaac Herzog announces to invite Benjamin Netanyahu to form next government on Sunday.

⦁ International oil prices jump by more than three percent after health authorities in China ease Covid curbs.

⦁ And, in Asian Boxing Championships, Indian women pugilists bag four gold medals and one silver.

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And now, before we end, let us listen to Mahatma Gandhi's favourite bhajanVaishnav Jan, by artist from ANGOLA on their Independence day.

VAISHNAV JAN-ANGOLA  

AND WITH THAT, WE END THIS BULLETIN. WE'LL BE BACK AT THE SAME TIME TOMORROW WITH THE NEXT EDITION OF WORLD NEWS.

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