Saudi Arabia urges OPEC+ countries to further reduce oil production

News Network
May 13, 2020

Riyadh, May 13: Saudi Arabia’s cabinet on Tuesday urged oil-producing nations not only to adhere to agreed cuts to production, but further reduce output to help restore balance in global oil markets, state news agency SPA reported.

In issuing the call to OPEC+, which includes members of the Organization of the Petroleum Exporting Countries plus Russia and other nations, ministers said the Kingdom is committed to supporting the stability of global oil markets.

After the meeting, acting Minister of Media Majed Al-Qasabi said that in addition to its commitment to the OPEC+ agreement, the Kingdom will voluntarily reduce output by an additional 1 million barrels a day in June. It will also try to implement additional cuts this month, with the consent of its customers, he added.

The cabinet said the Saudi initiatives aim to encourage other countries, whether they have signed up to the OPEC+ agreement or not, to adhere to its reduced rates and to cut output even further to help stabilize global oil markets.

During the cabinet meeting, which was conducted using video conferencing, King Salman also briefed ministers on his recent telephone conversation with US President Donald Trump. He said they affirmed the historical and strategic relationship between the two countries and their commitment to the continuation of joint efforts to enhance security and stability in the region.

Ministers were then updated on the latest developments in the corona virus crisis, including the steps being taken locally and internationally to control it and safeguard public health, the number of cases in the Kingdom and the care being provided to those who are infected. They also reviewed details of the active screening and testing programs in all parts of the country, which have helped to keep the number of deaths relatively low compared to global rates.

The cabinet praised the efforts being made by government officials to combat the pandemic, and stressed that citizens and expatriates must abide by the precautionary and preventive measures introduced to prevent the spread of the virus.

Ministers described the decision by Saudi Arabia to host the Pledging Event for the Humanitarian Crisis in Yemen 2020 on June 2 as an extension of the Kingdom’s humanitarian and development contribution, which reflects its pioneering role in supporting its neighbor.

The cabinet also welcomed the formation of the new government in Iraq and reiterated Saudi Arabia’s support for the nation and its readiness to work with the new administration to strengthen relations and enhance security and stability in the region.

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News Network
November 15,2024

Udupi: The Tourism Department is planning a major eco-friendly development initiative for Kamini Island, located near the Blue Flag-certified Padubidri End Point beach, aiming to attract more visitors while maintaining environmental sustainability.

Assistant Director Kumar CU emphasized that, given the island’s proximity to the Blue Flag beach, all development efforts will center around eco-friendly practices. “We are looking to enhance the Kamini River and the island’s surroundings by adding a hanging bridge, nature trails, and eco-friendly food courts offering traditional cuisine. Visitors will also be able to reach the island by pedal boats or kayaking,” he said.

The development project is estimated to cost between Rs 3 crore and Rs 4 crore. Meanwhile, the Blue Flag beach, Padubidri, continues to see a steady flow of visitors. Vijay Shetty, manager of the beach, shared that tenders for food courts and water sports have been awarded to private parties. Recently, three new coracles have been introduced, which are proving to be a hit with visitors. Additionally, three more shelters are expected to be ready by November 20.

Shetty mentioned that the beach can now accommodate between 2,500 and 3,000 visitors daily, although footfall remains lower than other district beaches due to user fees and activity restrictions. “Initially, most visitors were from Mangaluru, but now nearly 40% come from other districts, showing a shift in the visitor demographics,” Shetty noted.

To further boost tourism and promote a healthy lifestyle, a Beach Carnival is set to take place on November 23-24, featuring the National Sea Swimming Championship and a sea marathon in collaboration with the Padubidri JCI, which is celebrating its golden jubilee. Cultural events will be held at the main beach, with some sports events taking place at the Blue Flag beach. Emphasis will be placed on making all activities environmentally friendly.

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News Network
November 6,2024

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On the verge of a landslide win in the U.S. election, Republican presidential candidate Donald Trump delivered a powerful victory speech, calling it a "magnificent victory for the American people." Reflecting on the July 13 assassination attempt, Trump said, "God spared my life for a reason," underscoring his belief that his leadership has a higher purpose.

The 78-year-old is currently projected to secure 267 electoral votes, just three shy of the pivotal 270. His opponent, Vice President Kamala Harris, trails with 224 votes. Trump hailed his campaign as the "greatest political movement of all time," vowing, "We are going to help our country heal, fix our borders, and made history for a reason tonight. I will fight for you and your family with every breath in my body."

The Democrats face a formidable Republican lead, with Trump’s team predicting an ultimate tally of 315 electoral votes. A pivotal element in Trump's success was a sweeping takeover in key battleground states. From a Democratic lead of 6-1 in these areas during the 2020 elections, the scales shifted to a 7-0 advantage for Trump, with decisive wins in Georgia, Pennsylvania, and North Carolina and leads in Arizona, Wisconsin, Michigan, and Nevada.

The significance of this Republican victory deepens as the party also takes control of the Senate and holds a commanding lead in the House of Representatives race.

Trump expressed deep gratitude to his supporters, his running mate JD Vance, wife Melanie, and his children for standing by him throughout the challenging campaign. He also extended a special thanks to Tesla CEO and tech mogul Elon Musk, a prominent Trump supporter.

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News Network
November 5,2024

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Washington: The race between Democratic leader Kamala Harris and her Republican rival Donald Trump for the White House has been truly unprecedented as it saw drama, tragedy, political comebacks, fierce rhetoric and a historically razor-tight contest.

As the fight reaches its crescendo with the big election day just a few hours away, many political observers billed the unpredictable race for the 47th President of the US as the most consequential one in decades while appearing to project a grim picture for the country’s future under a Trump presidency.

In her final days of campaign, Vice President Harris focused on a message of hope, unity, optimism and women rights whereas Trump remained fiercely combative in targeting his Democratic rival and even suggested that he may not accept the election outcome in case of a defeat.

Overall, it has been a roller-coaster ride for both 60-year-old Harris and 78-year-old Trump.

Trump received his party’s nomination in March and formally at the Republican National Convention (RNC) in July — in a historic comeback after remaining in political wilderness for months following several court cases.

In effect, he became the first former president to get the nomination for the top office on the planet after being convicted of a felony.

“Trump has made one of the biggest political comebacks since Richard Nixon’s in terms of the political struggles that he has had in the last four years,” Communication Strategist Anang Mittal said.

Just days ahead of the RNC, Trump was shot at during a rally in Pennsylvania. He suffered an upper ear injury. Minutes later, a bleeding Trump raised his fist in defiance, images that drew a lot of emotional support from his die-hard supporters.

For Harris too, it has been a dramatic ride after Biden ended his re-election campaign in July, nearly weeks after he came under severe scrutiny following his incoherent performance at a televised debate with Trump.

While dropping out from the race, Biden, 81, endorsed Harris to succeed him as the Democratic candidate.

Finally in August, the Democratic National Convention formally nominated Harris as the party’s candidate for the presidential election.

The presidential election will be a chance to “move past the bitterness, cynicism and divisive battles of the past”, she said in a powerful speech at the Convention.

If Harris wins, she will become the first woman, first Black woman and first person of South Asian descent to become the US President.

In the overall campaign, Harris has been projecting the election as the one to protect the country’s fundamental freedoms, safeguard constitutional values and ensure women’s rights.

On his part, Trump has maintained his signature aggressive rhetoric and promising to rebuild the economy and rid the US from illegal immigrants.

However, there has been strong criticism of the Republican leader’s roadmap to repair the economy.

"Donald Trump is offering a vision of crony rentier capitalism that has enticed many captains of industry and finance,” said Joseph E Stiglitz, a Nobel laureate economist, in a column in Project Syndicate.

"In catering to their wishes for more tax cuts and less regulation, he would make most Americans’ lives poorer, harder, and shorter,” he said.

With election day just a few hours away, there is no clarity on who has a better chance of winning the race.

"The elections are very close. They (the outcome) may change on the basis of a few thousands votes here or there. I think the big issue will be voter turnout tomorrow. That will determine the outcome in certain swing states,” said Executive Director of the US chapter of Observer Research Foundation Dhruva Jaishankar.

Kapil Sharma, a non-resident senior fellow at Atlantic Council’s Middle East Programmes, also echoed similar views.

“This election is probably one of the closest elections that I can remember. I have been working in Washington for over 30 years and I don’t recall an election being this tight,” he said.

More than 78 million Americans have already cast their votes as of Sunday, according to the University of Florida’s Election Lab that tracks early and mail-in voting across the US.

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