by admin | May 25, 2021 | Business Summit, Entrepreneurship, Events, Social Round-up, Women Entrepreneur
Washington : US President Donald Trump and Prime Minister Narendra Modi in a phone conversation, “expressed satisfaction” over the Global Entrepreneurship Summit (GES) the countries co-hosted in Hyderabad late last month, according to the White House.
The US delegation to the three-day event with the theme, “Women, First Priority for All”, was headed by the President’s daughter and senior advisor, Ivanka Trump, and included representatives from 38 states.
Her participation in the summit was announced during Modi’s visit to the White House in June.
Modi attended the inauguration of the summit with External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitaraman on November 28.
About 1,500 delegates including entrepreneurs, investors and eco-system supporters from 150 nations participated in the event, more than half of them women.
On Thursday, State Department spokesperson Heather Nauert told reporters the summit was “a tremendous success when we bring in 1500 entrepreneurs from around the world”.
—IANS
by admin | May 25, 2021 | World
Jerome Powell
Washington : Jerome Powell, US President Donald Trump’s nominee to lead the Federal Reserve, said he expected the central bank to continue monetary tightening and to ease regulatory burdens on financial system.
“If confirmed, I would strive, along with my colleagues, to support the economy’s continued progress toward full recovery,” said Powell in remarks to be delivered at his Senate confirmation hearing on Tuesday, Xinhua reported.
“We expect interest rates to rise somewhat further and the size of our balance sheet to gradually shrink,” Powell said in the remarks which were released on Monday before his hearing.
He also noted that the central bank should be prepared to respond decisively in response to crisis.
In regard to regulatory reforms, Powell said the central bank under his leadership will consider appropriate ways to ease regulatory burdens on the financial system while preserving core reforms, such as strong capital and liquidity requirements, stress testing and resolution planning.
In his remarks, he also stressed the independence of the Fed. “I will do everything in my power to achieve those goals (maximum employment and price stability) while preserving the Federal Reserve’s independent and nonpartisan status that is so vital to their pursuit,” said Powell.
Powell, who is currently a member of the Fed’s Board of Governors, was nominated by Trump to replace chair Janet Yellen, whose term as chair expires in February 2018. He is expected to face smooth confirmation at the Senate.
—IANS
by admin | May 25, 2021 | World
By Gaurav Sharma,
Beijing : Chinese President Xi Jinping held talks with his visiting US counterpart Donald Trump on Thursday where they discussed the North Korean nuclear crisis.
The two leaders met at the Great Hall of the People here.
While Xi promised cooperation and coordination on the worsening crisis, Trump said that China has the solution to the problem.
“Our meeting this morning in front of your representatives and in front of our representatives was excellent, discussing North Korea and I do believe there is a solution to that as you do,” Trump told Xi.
“We have the capacity to solve world problems for many years to come,” Trump, who is on a three-day China visit, said.
In response, Xi said: “China is ready to work with the United States to enhance cooperation and properly manage the differences in a spirit of mutual benefit.”
He said that the US and China had “more coordination and cooperation in North Korea nuclear issue and other world challenges.
“Right now China and US relations are at a new starting point.”
The tensions between Washington and Pyongyang have escalated after North Korea’s test firing of missiles and conducting its most powerful hydrogen test in September.
North Korea fears that the US wants to the reclusive nation to be annexed in the South Korea.
The US wants China to do more to rein in its ally. But China has said that it is not the trouble-maker and has only limited ability to solve the crisis.
Power equations will be changed this time as Xi has become more powerful, because of exalted status in China, and Trump’s popularity has taken a hit in the US.
The US President will also chair a business forum and there will be a signing of several bilateral agreements in the Great Hall of the People.
Trump arrived here on Wednesday on a three-day visit, the third leg of his five-nation Asia tour after stops in Japan and South Korea.
This is Trump’s first visit to China as US President and the third meeting with Xi this year.
Trump and Xi are also expected to discuss the US trade deficit with China.
—IANS
by admin | May 25, 2021 | World
Washington : US President Donald Trump has ruled out allowing Congress to include any legislation to provide a solution for so-called “DREAMers” in the spending bill this year.
Trump took the position in a White House meeting on Thursday with seven Republican Senators, according to what the lawmakers said upon emerging from the get-together, Efe news reported.
This stance could spark a battle with Democratic lawmakers or even a government shutdown due to lack of funds.
In September, Trump announced that he was ending the Deferred Action for Childhood Arrivals (DACA) programme, implemented in 2012 by then-President Barack Obama, which shielded some 800,000 young undocumented immigrants who were brought to this country by their parents as children, known as “DREAMers”.
Trump, however, gave Congress six months – until March 5, 2018, to find a legislative solution for the situation of the young immigrants.
But the Democratic opposition in Congress wants a law guaranteeing protection for the “DREAMers” – that is ensuring that they cannot be deported now that DACA has been cancelled – before December 31.
Some Democratic Senators like Kamala Harris and Ben Cardin have pushed the idea of including the measure in the budget bill that Congress must approve in December to keep the government solvent.
Trump did not publicly mention at the White House meeting on Thursday the ongoing conversations about the budget, telling journalists only that he wanted Congress to end the Diversity Visa Lottery and so-called “chain migration” whereby immigrants may bring in other relatives from abroad.
Trump wants the legislation that will replace DACA to include measures to strengthen border security, limit the granting of visas to a merit-based system and create a point-system whereby immigrants may obtain permanent residence in the US.
—IANS
by admin | May 25, 2021 | World
Donald Trump and Jerome Powell
Washington : Announcing Jerome Powell’s appointment as chairman of the Federal Reserve, US President Donald Trump expressed confidence and said the former has the “wisdom and leadership to guide our economy”.
“Based on his record I am confident that Jay has the wisdom and leadership to guide our economy,” Efe news quoted Trump as saying in the White House Rose Garden.
He emphasized that Powell “has proved to be a consensus builder for the sound monetary and financial policy that he believes in”.
Powell, who will succeed Janet Yellen, said he was “honoured” to be nominated to head the Fed.
The President also thanked Yellen for the “dedication and devotion” she has displayed in her four years in the post, calling her a “spectacular person”.
The nomination of Powell, a member of the Fed Board of Governors since 2012, is not likely to face any serious opposition in the Senate.
Trum had during his campaign said that he would fire Yellen if he were elected, although after he met her he said he liked her.
—IANS
