Around the Globe

Around the Globe

India needs more 'clean coal' investors: global coal body

India needs to do more to attract foreign investment in technologies that can cut emissions from burning coal, a global coal trade association said on Friday, given that the fuel will be a main source of electricity in the country for decades.

India, the world’s second-biggest greenhouse gas emitter, has set ambitious targets to raise the contribution of solar and wind power to its energy mix, though it has also said coal will maintain its dominance for at least the next 30 years due to its abundance and cost advantage.

South African police issue arrest warrant for Ajay Gupta

South African police today said they have obtained an arrest warrant for absconding Ajay Gupta, the India-born close aide of scandal-hit former president Jacob Zuma, media reports said.

The Hawks – the police's elite high-priority crimes unit – on Wednesday arrested three people as they raided the posh home of India-born Guptas, a controversial business family linked to Zuma, who resigned on Thursday.

Ajay the patriarch of the embattled Gupta family is "on the run" and surrounded by a team of heavily armed bodyguards, Times Live reported quoting police officials.

China angered as Narendra Modi visits Arunachal Pradesh

China on Thursday expressed anger over a visit by Prime Minister Narendra Modi to Arunachal Pradesh, which China also claims, and said India should stop any action that might complicate the dispute.

China claims the region in the eastern Himalayas as “South Tibet”, and it has denounced Indian leaders’ visits there as attempts to bolster India’s claims.

“China’s position on the China-India boundary question is consistent and clear-cut,” Chinese Foreign Ministry spokesman Geng Shuang said in a statement carried by the official Xinhua news agency.

Iran seeks Indian investment amid US pressure

Iranian President Hassan Rouhani will be seeking billions of dollars of Indian investment during a visit to New Delhi, diplomats said, a trip that comes amid US pressure to review a 2015 international nuclear deal and re-impose sanctions on Iran.

India is trying to develop the port of Chabahar on Iran’s east coast as a way to gain access the markets of central Asia as well as Afghanistan by bypassing archrival Pakistan.

But progress is slow because of concern that President Donald Trump’s administration may eventually scrap the Iran nuclear deal.

OPEC sees higher oil demand, more rival supply

OPEC on Monday said world oil demand would grow faster than expected in 2018 because of a healthy world economy, adding a tailwind to the producer group’s effort to remove a supply glut by cutting output.

But the global market will return to balance only towards the end of 2018, no earlier than previously thought, as higher prices encourage the United States and other non-member producers to pump more, OPEC said in a monthly report.

US to retain EB5 visa, but double the fee

The US Congress’ extension for EB5 visa will end on February 8. Even if this visa — touted as the Golden Visa of Uncle Sam — is continued, it will come with a fat price as the US administration is considering to more than double the visa fee to $1.35 million from the existing $500,000.

Trump preaches cooperation, but can he follow through?

In his State of the Union address on Tuesday, US President Donald Trump spoke of unifying the country and delivering for the American people – and he has the opportunity to back up his words with action almost immediately.

Trump faces a series of policy choices in the next few weeks and months that will show whether he is sincere in his pledge to “seek out common ground” and could also shape his presidency and legacy.

Mystery still shrouds the arrest of billionaire prince Alwaleed

Saudi Arabia freed Prince Alwaleed bin Talal and several of the kingdom’s most prominent businessmen from detention, clearing out the Ritz-Carlton hotel that served as a jail for the country’s elite during a controversial crackdown on corruption. News of Alwaleed’s release came hours after he was quoted praising members of Saudi Arabia’s royal family. “I can only say I’m supporting the king and crown prince in all the efforts they’re doing to really have a new Saudi Arabia,’ he said.

‘America First’ is good for globalism, Trump stresses

President Donald Trump has a familiar message for the global elites populating the World Economic Forum in Davos, Switzerland: You were wrong. A year ago, some Davos participants predicted Trump’s protectionist rhetoric would lead to sluggish economic growth and lackluster stock market gains. It didn’t. And the president isn’t about to let that go unnoticed.