US keen to explore areas of cooperation with India: Verma

Kolkata, Dec 14 (PTI) Describing his meeting with West Bengal Chief Minister Mamata Banerjee

as "terrific", US Ambassador to India Richard Verma today said they are keen on exploring areas where they can work together.

"It was a terrific meeting. We have talked about all kinds of issues starting from trade and investment between the US and this part of India, educational linkages and about important conferences that we are having right now on regional connectivity,"

he said after his 40-minute long meeting with Banerjee.

"We explored all those ways where we can work together in connecting our people," Verma said.

The US Ambassador went on saying that the relationship between two countries has witnessed incredible success in the last two years and it has brought progress in different sectors like defence, green energy and climate besides, trade and commerce.

"We have had incredible success in India-US relations over the last two years in particular to read out all progress we made in defence, green energy and climate, in trade and commerce and so many other areas," Verma stated.

Officials at the Chief Minister's Office said Banerjee invited Verma to the Bengal Global Business Summit scheduled from January 20 and 21 next year and the envoy had informed the Chief Minister that a US-team might visit the meet.

India tops Asia in innovation chart

Mumbai, Dec 14 (PTI) India has emerged as the most preferred destination for innovation in Asia and third biggest globally, with 'Silicon Valley' of East Bengaluru leading the charge, says a research by global consulting major Capgemini.

"India has been ranked as the No. 1 innovation destination in Asia and No. 2 in the world for new innovation centres," the report said.

Bengaluru, which saw the opening of three new centres between March and October this year and an announcement by Apple to establish a startup accelerator, leads the Indian challenge on innovation and is ranked 5th hub at global level.

Nine new innovation centres were opened in the country during the period, taking total number of innovation centres to 25. The US leads the list 1ith 146 centres, followed by Britain with 29 and India is at third palce with 24 centres.

The report said there has been noticeable activity in tier-II cities when it comes to innovation, and added that apart from Pune, which already existed on the global map, Jaipur has also entered the list with two new centres.

The research, done by Capgemini Consulting's Digital Transformation Institute in collaboration with Fahrenheit 212 and in partnership with Brian Solis of Altimeter, said efforts taken by the government are the prime moving factor for emergence of the country in the list.

"This is due in part to the government and other public sector initiatives that seek to establish India as a digitally empowered society and nurture innovation," it said.

Jaipur, Pune and Hyderabad each welcomed two new centres involving partnerships with government during the March-October period, it said.

The number of active incubators in the country increased 40 per cent to 140, with a bulk 66 per cent of them in tier-II and tier-III centres.

Global names, including Cisco, Qualcomm Technologies, general Electric 3M and London-based Internet of things consortium Hypercat have presence in the country today, the report said.

The footprint in smaller cities was attributed to the IoT policy for 2016-2020 and the government's startup India initiative launched early this year.

With presence in Bengaluru, Hyderabad, Jaipur and Pune, the country accounts for 27 per cent of Asia's new innovation centres and is home to a tenth of new global innovation centres.

US warns 'aggressive' Beijing in South China Sea

Sydney, Dec 14 (AFP) The United States will keep challenging Beijing's "assertive, aggressive behaviour in the South China Sea", the US Pacific commander said today as tensions between two powers rise over comments by Donald Trump.

Admiral Harry Harris, head of the US Pacific Command, warned Washington would not accept Chinese control of the region, despite Beijing's rapid development of artificial islands capable of hosting military planes.

He remarks come as Beijing reacted angrily after Trump, the US President-elect, broke convention by speaking directly to Taiwanese leader Tsai Ing-wen -- and suggested Washington could jettison Washington's decades-old "One China policy".

The "One China policy" is a diplomatic compromise allowing the US to do business with both China and Taiwan while only recognising Beijing diplomatically.

"We will not allow the shared domains to be closed down unilaterally, no matter how many bases are built on artificial features in the South China Sea," Harris said.

"We will cooperate where we can but we will be ready to confront where we must." 

China insists on sovereignty over virtually all the resource-endowed South China Sea, despite rival claims from its Southeast Asian neighbours.

But Washington has repeatedly said it does not recognise the claims, and has regularly sent warships into the strategically vital area to assert the right to freedom of navigation.

"Should others (countries) signal in this way in freedom of navigation operations? I think so, but that is again up to each individual country to make that decision," the admiral told Australian think tank the Lowy Institute in Sydney.

"The US fought its first war following our independence to ensure freedom of navigation, and we did that when we were weak and small," he added.

"This is an enduring principle, and one of the reasons our forces remain ready to fight tonight." 

Harris added that Washington would not make Australia choose between its traditional ally, the United States, and rising world power China.

"Australia is more than capable of chewing gum and walking at the same time, and so we're not asking you to make a choice," he said.

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Market brushes aside Fed rate hike signal, jumps 183 points

Mumbai, Dec 13 (PTI) Market on Tuesday shrugged off a widely expected US interest rate hike as the benchmark Sensex bounced 183 points to close at 26,698, with auto, IT, oil and gas shares keeping up the momentum.

At the close, Nifty retook the key 8,200-mark, driven by gains in RIL and ONGC stocks.

Consumer price index-based retail inflation is scheduled for release on Tuesday.

Buying picked up after Asian stocks recovered from early bouts of weakness to end higher ahead of the start of a two-day US Federal Reserve meeting, which is due to start later on Tuesday.

The rate-setting panel is widely expected to hike its key interest rate after a two-day meeting that begins later on Tuesday.

Banks get Rs 12.44 lakh crore in old notes till Dec 10: RBI

Mumbai, Dec 13 (PTI) RBI today said banks have garnered Rs 12.44 trillion (Rs 12.44 lakh crore) in banned notes till December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago.

"The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank and the currency chest, amounted Rs to 12.44 trillion as of December 10," RBI Deputy Governor R Gandhi told reporters here.

The money that various banks have issued through their counters and ATMs since November 10 and up to December 10 stood at Rs 4.61 trillion, he added.

In volume terms the number stood at 21.8 billion pieces of notes of various denominations, of which 20.1 billion pieces were of Rs 10, Rs 20, Rs 50 and Rs 100. The number of higher denomination of new Rs 500 and Rs 2,000 notes stood at 1.7 billion, he said.

Hence, while the notes surrendered have risen by almost Rs 1 trillion, cash disbursal has risen only a little since December 7, when RBI had said that banks had issued Rs 4.27 trillion of new notes post demonetisation through ATMs and bank counters, the banned notes collected stood at Rs 11.55 trillion.

"The entire system is continuously gearing up for supporting the circulation of notes in the hands of the public. Daily, we are issuing more and more notes, getting it printed and issuing it and this will be a continuous affair.

The public are requested to freely use the notes that they have in their hands rather than hoard it," Gandhi said.

ExxonMobil's Tillerson is Trump's pick for Secretary of State

Washington, Dec 13 (PTI) Rex Tillerson, ExxonMobil CEO, was today tapped by US President-elect Donald Trump as his Secretary of State to "reverse years of misguided foreign policies" that weakened America's security and standing in the world, amid bipartisan concerns over the veteran oilman's close ties with Russian President Vladimir Putin.

"Rex Tillerson's career is the embodiment of the American dream. Through hard work, dedication and smart deal making, Rex rose through the ranks to become CEO of ExxonMobil, one of the world's largest and most respected companies," Trump said in a statement.

Among the most accomplished business leaders and international deal-makers in the world, 64-year-old Tillerson has spent his career protecting the jobs of his employees, who number over 70,000, the presidential transition team said.

Guiding operations around the world that include more than 200 offices, Tillerson knows how to manage a global organisation and successfully navigate the complex architecture of world affairs and diverse foreign leaders, it argued.

"As Secretary of State, he will be a forceful and clear-eyed advocate for America's vital national interests, and help reverse years of misguided foreign policies and actions that have weakened America's security and standing in the world," the statement said.

"His tenacity, broad experience and deep understanding of geopolitics make him an excellent choice for Secretary of State," Trump said, adding that he will promote regional stability and focus on the core national security interests of the United States.

"Rex knows how to manage a global enterprise, which is crucial to running a successful State Department, and his relationships with leaders all over the world are second to none. I can think of no one more prepared, and no one more dedicated, to serve as Secretary of State at this critical time in our history," Trump said.

Tillerson said he shares Trump's vision for restoring the credibility of the United States' foreign relations and advancing American national security.

"We must focus on strengthening our alliances, pursuing shared national interests and enhancing the strength, security and sovereignty of the United States," he said.

A native Texan Tillerson began his career at Exxon Company, in 1975 as a production engineer. He went on to become the company's CEO in 2006.

Like Trump, Tillerson has no formal foreign policy experience, but has built close relationships with many world leaders by closing massive deals across Eurasia and the Middle East on behalf of the world's largest energy company.

Tillerson's nomination could face intense scrutiny in the Senate due to his close ties with Putin. Trump, who during his presidential campaign praised Putin, wants to improve US' relationship with Russia which soured in 2014 when Kremlin annexed Crimea.

India hails World Bank decision on Indus treaty

New Delhi, Dec 13 (PTI) India today said World Bank's decision to temporarily halt two simultaneous processes to look into Indo-Pak dispute over Kishenganga and Ratle project confirms that pursuing the two concurrent processes could have rendered the Indus Water Treaty unworkable over time.

External Affairs Ministry Spokesperson Vikas Swarup said India remains fully conscious of its international obligations and is ready to engage in further consultations on the matter of resolving current differences regarding these two projects.

"The government had pointed out on 10 November, 2016 the legal untenability of the World Bank launching two simultaneous processes-- for appointment of a Neutral Expert as requested by India and establishment of a Court of Arbitration requested by Pakistan-- to adjudicate technical differences between India and a Pakistan on Kishenganga and Ralte projects.

"By temporarily halting both the processes now, the Bank has confirmed that pursuing the two concurrent processes can render the Treaty unworkable over time," Swarup said.

The World Bank's move to pause the process came nearly a month after India had strongly objected to the global body's "inexplicable" decision, saying going ahead with two separate mechanisms was "legally untenable".

Group President of World Bank Jim Yong Kim said,"We are announcing this pause to protect the Indus Waters Treaty and to help India and Pakistan consider alternative approaches to resolving conflicting interests under the Treaty and its application to two hydroelectric power plants." 

The pause was announced by Kim in letters to the finance ministers of India and Pakistan. It was also emphasised that the Bank was acting to safeguard the Treaty.

Under the Indus Waters Treaty, signed between India and Pakistan and also the World Bank in 1960, the World Bank has a specified role in the process of resolution of differences and disputes.

Rajinikanth turns 66; no celebrations due to Jaya's demise

Chennai, Dec 12 (PTI) Superstar Rajinikanth turned 66 today but there were no birthday bash for the actor on account of former Chief Minister J Jayalalithaa's December 5 demise.

However, a host of leaders and celebrities including Prime Minister Narendra Modi greeted him.

"Happy birthday @superstarrajini! Wishing you a long life filled with good health," Modi tweeted.

Amitabh Bachchan and Shah Rukh Khan also greeted the actor.

"It is Rajnikant's birthday on Dec 12th and we wish him greater glory happiness and good health," Bachchan wrote on his Twitter page and shared pictures of the two actors posing together.

Khan described the Tamil mega star as "coolest and greatest of them all."

"2 the coolest & greatest of em all. Wishing u health happiness & years of entertainment for us. Happy B'Day Thalaivaa," he said.

Rajinikanth's daughter called him the "greatest man I know.

"To the greatest man I know ... my #Father #ILoveYou #HBDSuperstarRajinikanth," she said and posted photos of her and her father.

DMK Treasurer and Tamil Nadu Opposition Leader MK Stalin and BJP state President Tamilisai Sounderrajan and a host of actors greeted the 'Kabali' through statements and on Twitter.

The actor had last week asked his fans not to celebrate his birthday on account of Jayalalithaa's death.

He had skipped birthday celebrations last year also on account of the torrential rains that sparked a deluge in Chennai, Kancheepuram and Tiruvallore districts.

India,Indonesia resolve to deepen cooperation to combat terror

The Prime Minister, Shri Narendra Modi and the President of Indonesia, Mr. Joko Widodo at the Joint Press Statement, at Hyderabad House, in New Delhi on December 12, 2016.

New Delhi, Dec 12 (PTI) India and the world's most populous Muslim nation Indonesia today decided to expand their defence and maritime security ties and resolved to effectively deal with terrorism, calling for "zero tolerance" towards it.

The two countries, among the very few fast growing large economies globally, also decided to boost bilateral trade and investment in areas of oil and gas, renewable energy, IT and pharmaceuticals, during talks between Prime Minister Narendra Modi and Indonesian President Joko Widodo.

The issue of South China Sea figured prominently in the talks and in a veiled message to Beijing, both sides asserted that the dispute must be resolved through peaceful means and without resorting to threat or use of force.

Two MoUs, one on providing for cooperation in youth affairs and sports and another on standardisation were signed.

A joint communique on combating illegal and unregulated fishing was also firmed up.

In his media statement, Modi said the talks focused on the full range of bilateral cooperation and that both countries agreed to prioritise defence and security cooperation, besides ramping up efforts to ensure safety and security of the sea lanes.

"As the world's most populous Muslim nation, Indonesia stands for democracy, diversity, pluralism, and social harmony. These are also our values. Our nations and societies have nurtured strong bonds of commerce and culture throughout our history," Modi, flanked by Widodo, said.

Asked whether India raised the issue of Indian national Gurdeep Singh, facing death sentence in Indonesia on drug charges, officials did not give a direct reply but said the matter is under judicial process in that country.

A joint statement said the two leaders condemned terrorism in all its forms and manifestations in the strongest terms, holding that there must be "zero tolerance" for acts of terror and that all states must deal with trans-national terrorism emanating from their territory by effective criminal justice response.

"Both leaders discussed the threat from global terrorism and other transnational crimes and resolved to significantly enhance bilateral cooperation in combating terrorism, terrorist financing, money laundering, arms smuggling, trafficking in human beings and cyber crime," it said.

Modi and Widodo called upon all countries to implement the UNSC Resolution 1267 (banning militant groups and their leaders) and other relevant resolutions designating terrorist entities, seen as an apparent reference to China blocking India's move to get Jaish-e-Mohammed chief Masood Azhar designated as a global terrorist by the UN.

The two leaders also asked all nations to work towards eliminating terrorist safe havens and infrastructure, disrupting terror networks and their financing channels and stopping cross-border terrorism,seen as a message to Pakistan.

Emphasising on the need to improve connectivity and encourage people-to-people contact, the two leaders also welcomed Indonesian airline Garuda commencing direct flights from Jakarta to Mumbai. .