Around the Globe

Around the Globe

Hurricanes in US may help cotton growers in India

The demand for Indian cotton is bright in the international market. International buyers are turning to India now as the US crop has been hit by hurricanes in September. Higher production and lower prices also make Indian cotton appealing to global buyers.

Indian cotton exports could definitely go up above 7 million bales this year and there are chances of moving closer to 10 million bales (one bale is 170 kg). Analysts said the market is expecting over 40 per cent growth in exports this time on account of increased demand and better production.

S&P cuts China’s credit rating for 1st time since ‘99

S&P Global Ratings cut China’s sovereign credit rating for the first time since 1999, citing the risks from soaring debt, and revised its outlook to stable from negative.

The sovereign rating was cut by one step, to A+ from AA-, the company said in a statement on Thursday. The analysts also lowered their rating on three foreign banks that primarily operate in China, saying HSBC China, Hang Seng China and DBS Bank China would be unlikely to avoid default should the nation default on its sovereign debt.

Rohingyas are illegal immigrants & will be deported, says Rajnath

India has reiterated its determination to pack off Rohingya Muslims to Myanmar saying they were not refugees but illegal immigrants and questioned those opposing the move to evict them.

Union home minister Rajnath Singh stressed on the difference between refugees and illegal immigrants and claimed that nobody should have any objections as Myanmar was willing to take them back.

No place called Home

Religious clashes in Myanmar, a Buddhist-majority country, have driven more than 400,000 Rohingya Muslims out of the country, provoking the United Nations’ top human rights official to call the campaign against them “ethnic cleansing.” It’s tarnished the reputation of the country’s de facto leader, Aung San Suu Kyi: Her long silence on the violence has had some critics petitioning to rescind her 1991 Nobel Peace Prize.

In Kejriwal, Kamal Haasan meet, hints of a new alliance

Delhi Chief Minister Arvind Kejriwal on Thursday met veteran actor Kamal Haasan and hailed him for coming out against communalism and corruption amid mounting speculation that the latter would take a political plunge.

Erdogan ready to send more troops to Syria, praises Russian role

Turkey is ready to send more troops into Syria, where it’s working with Russia to bring an end to more than six years of civil war, President Recep Tayyip Erdogan said.

“Our soldiers on the border are ready for a mission at any moment,’’ Erdogan said at the Bloomberg Global Business Forum in New York. He said the Turkish army, which has fought against Islamic State jihadists and Kurdish militants in northern Syria since August last year, will expand or reduce its forces there depending on what’s required.

S Korea approves aid to N Korea, North calls Trump ‘barking dog’

South Korea approved a plan on Thursday to send $8 million worth of aid to North Korea, as China warned the crisis on the Korean peninsula was getting more serious by the day and the war of words between Pyongyang and Washington continued.

North Korea’s foreign minister likened US President Donald Trump to a “barking dog” on Thursday, after Trump warned he would “totally destroy” the North if it threatened the United States and its allies.

Merkel set to be German chancellor for fourth term: polls

German Chancellor Angela Merkel looks almost certain to clinch a fourth term in the general election next Sunday while a far-right party is poised to enter parliament for the first time since the end of World War II.

Latest opinion polls conducted just days before the election unanimously forecast that 62-year-old Merkel, who has been in power since 2005, will remain at the helm of the next government irrespective of which coalition will be formed after the election.

Over 200 killed in Mexico quake, 22 children buried after school collapsed

Desperate rescue workers scrabbled through rubble in a floodlit search on Wednesday for dozens of children feared buried under a Mexico City school, one of hundreds of buildings wrecked by the country’s most lethal earthquake in a generation.

The magnitude 7.1 shock killed at least 217 people, nearly half of them in the capital, 32 years to the day after a devastating 1985 quake and less than two weeks after a powerful tremor killed nearly 100 people in the south of the country.