Modi attends SCO summit in Uzbekistan along with Chinese President, Pak PM

News Network
September 16, 2022

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Samarkand, Sept 16: Prime Minister Narendra Modi on Friday attended the annual summit of the Shanghai Cooperation Organisation in the historic Uzbek city here along with Russian President Vladimir Putin, Chinese President Xi Jinping and leaders of the other member states of the influential grouping.

It is for the first time that Xi and Modi came face-to-face since the border standoff between India and China escalated following the deadly clash in Galwan Valley in June 2020.

The summit is also being attended by Pakistan Prime Minister Shehbaz Sharif, Iranian President Ebrahim Raisi and leaders of several central Asian countries.

Ahead of the deliberations at the restricted format of the summit, leaders of the permanent members of the grouping posed for a group photo.

At the venue of the summit, Modi was warmly greeted by Uzbek President Shavkat Mirziyoyev.

After the summit, Prime Minister Modi is set to have separate bilateral meetings with Russian President Putin, Uzbek President Mirziyoyev and Iranian President Raisi.

Modi arrived here on Thursday night on an around 24-hour visit.

Hours before departing for Samarkand, Modi said he was looking forward to exchanging views at the summit on topical regional and international issues as well as on reform and expansion of the grouping.

"At the SCO Summit, I look forward to exchanging views on topical, regional and international issues, the expansion of SCO and further deepening of multifaceted and mutually beneficial cooperation within the Organisation," Modi said.

"Under the Uzbek chairship, a number of decisions for mutual cooperation are likely to be adopted in areas of trade, economy, culture and tourism," he said.

The SCO is holding its first in-person summit in Samarkand in Uzbekistan after two years since the outbreak of the COVID-19 pandemic which prevented such high-level gatherings.

The summit in Samarkand will have two sessions - one restricted session which is only meant for the SCO member states and then there will be an extended session that is likely to see the participation of the observers and the special invitees of the chair country.

Launched in Shanghai in June 2001, the SCO has eight full members, including its six founding members, China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan. India and Pakistan joined as full members in 2017.

Over the years, it has emerged as one of the largest trans-regional international organisations.

Iran is likely to be given the status of a permanent member of the SCO at the Samarkand summit.

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News Network
November 14,2024

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Bengaluru: The Prime Minister Narendra Modi led union government has requested the Karnataka High Court to direct the Mandya district administration and the state government to clear a madrasa operating within the premises of the historic Jama Masjid in Srirangapatna.

The Waqf Board, opposing this move, has claimed the mosque as its property and defended the right to conduct madrasa activities there.

The matter was brought before a division bench headed by Chief Justice N V Anjaria following a public interest litigation filed by a person named Abhishek Gowda from Kabbalu village in Kanakapura taluk. The petition alleged “unauthorised madrasa activities” within the mosque.

Representing the Central government, Additional Solicitor General of India for High Court of Karnataka, K Arvind Kamath argued that the Jama Masjid was designated as a protected monument in 1951, yet unauthorised madrasa operations continue there.

He noted that concerns over potential law and order issues have so far prevented any intervention. Kamath urged the court to direct the Mandya district administration to take action and vacate the madrasa from the mosque.

In defence, lawyers for the state government and the Waqf Board contested this request, stating that the Waqf Board had been recognised as the owner of the property since 1963 and, thus, conducting madrasa activities there is lawful.

After hearing both sides, the bench adjourned the case for further arguments, scheduling the next hearing for November 20.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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