The US President’s pull-out statement from Paris deal has created a resurgence of support for the deal from various parts of the world except from Russia. Unlikely partners on several issues - China and EU agreed a “green alliance” to take over leadership of the global climate agenda at their Brussels meeting. Donald Tusk, the European Council President, said EU and Beijing agreed to accelerate reduce harmful emissions. China is the world’s largest polluter followed by the US and the EU. Germany's Chancellor Angela Merkel who clashed with Mr Trump few weeks ago has made strong commitment towards Paris. “I say to everyone who values the future of
US and Europe
President Trump, who has become a dissident of major global agreements has indicated US withdrawal from the Paris Climate deal. US is world’s leading carbon emitter and also benefitted big from the last phases of carbon led industrialisation. Making the dealation about the exit from the White House, Mr Trump described the Paris accord as an example of an international deal that hurt the US economy. Trump’s ‘America First’ campaign aims at protecting American workers and the climate deal is against it according to him. If the US goes ahead with the exit, the 2015 December signed Paris deal, which is aimed to restrict polluting industries for cutting emissio
Going with the promise of ‘Buy American and Hire American’ election propaganda, President Trump issued an executive order asking for the revision of the H 1B Visa programme. The executive order that is largely expected has ordered federal agencies to look at tightening the H-1B visa programme used to bring high-skilled foreign workers to the US. The H-1B visas are intended for foreign nationals in occupations that generally require higher education, including science, engineering or computer programming. Supporters of Trump points out that the move will ask administrative wings to stop US jobs going to the foreign hands. Only highly skilled jobs can be filled by the f
India’s Prime wilful defaulter – Vijay Mallya who ‘escaped’ to Britain, was arrested by Scotland Yard Police today and later was released on bail. The arrest signifies the ‘long British’ process of a possible extradition of the former Rajaya Sabha MP who owes nearly Rs 9000 crore to various Indian banks. “Officers from the Metropolitan Police’s Extradition Unit this morning arrested a man on an extradition warrant. Viajay Mallya was arrested on behalf of the Indian authorities in relation to the accusations of fraud,” the PTI quoted the Scotland Yard. Mallya’s extradition and his participation in the legal process
The US Fed raised its short-term policy rate or the Fed rate by 25 basis points, signaling the continuation of monetary tightening. An explanation accompanied by the rate hike defended the rate hike on the ground of rising inflation. This is only the third time since the financial crisis that the Fed is raising its key rate. The policy rate now rose to 1 per cent. From the view point of the EMEs, the rate hike may bring more volatility in financial markets in near future. Here, the firm stand of the Fed that rate hike decision will be done in three quarters instead of yearly exercise indicate more scope for market turbulence. In the long term, the frequent rate hike may drain aw
Deriving energy from Donald Trump’s patriotic and domestic labour promotion campaign, two US senators have proposed a new legislation to cut down legal immigration into the US. Senators Tom Cotton and David Perdue have introduced Reforming American Immigration for Strong Employment or Raise Act aimed to cut immigration avenues for people from across the world. Though the Bill is aimed to reduce the immigration of non-skilled people into USA, the bill is going to be a big setback for Indians who have little skill and at the same time would like to settle in the US. The Bill proposes to reduce the number of green card or legal permanent residency issued every year from about
The theme in front of the World Economic Forum meeting was the rising anti-globalisation trend. Chinese President Xi Jinping who came to Davos like a chief guest, was supposed to led the pro-globalisation camp. In the opposite was the swearing ceremony of Donald Trump who challenged the world trade order accusing that China is the only beneficiary in the current format. On the fate of globalisation, only the future can give some answer. This was the concluding point of the summit. Expectedly, Mr XI made a sound campaign for it and defended the benefits of economic globalization and its ability to lift people out of poverty. But the West was not equally zealous. Rather they seeme
The US lawmakers have reintroduced a bill seeking pinching restrictions on H1B Visa regime that may reduce opportunities for Indian techies in the US. Election of Donald Trump who vehemently opposed outsourcing has encouraged the law makers to bring the bill again into the Parliament’s consideration. India was one of the biggest beneficiary of the US visa regime as several Indian tech companies were able to recruit talented persons to the US by using it. The Bill makes a comeback after the initial rejection by the US Parliament earlier. Fresh changes are made in the bill proposing a minimum yearly income of $100000 for those who seeks the visa. Such a requirement is expecte
The keenly watched Italian referendum on Prime Minister Matteo Renzi’s constitutional reforms was rejected by the people with a shockingly strong ‘no’ of 60 per cent. Mr Renzi designed big reforms through constitutional measures that may add power to the Prime Minister. He sought public ratification through the referendum. After the failure of the referendum, Mr Renzi is expected to submit resignation soon. Now the question is how far the Italian referendum and the victory for the rightists may trigger such reactions from other European countries that are approaching elections. Economic struggles under the currency union and the soft immigratnt policies by sever
Republican candidate Donad Trump won a historical US election defying most of the predictions. The election is even more important for the rest of the World as it engaged with the increasing divide within the US like the Muslim immigrant issue. The entire election process was engulfed by controversies, religious divisions, ethnic differences and personal attacks. In the Congress also Republicans got control indicating more comfort for the new President. Trumps success was shocking for some, surprising for many and is a thoughtful one for Europe. The way in which he used the prevailing global unrest to win US mind will not go unattended by political leaderships in Europe. Mainstr
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