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I2 is for Israel and India, U2 for US and the UAE in the I2U2 virtual summit just concluded. UAE will invest $2 billion for food parks in India, to ensure food security for South Asia and Middle East countries. Gujarat will get hybrid renewable energy projects for 300 MW.

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At a joint press conference with French, Romanian and Moldovan foreign ministers German Foreign Minister Annalena Baerbock announces 695 million euros of aid to Moldova as it deals with refugees from Ukraine. Out of about 4.2 million refugees that fled Ukraine 2.4 million went to Poland, and 1.8 million refugees to Romania, Moldova and Hungary. Moldova is one of the poorest countries in the region and is struggling to cope with the refugee influx which is the highest per capita refugees. "We have your back," Baerbock told the Moldovan prime minister Natalia Gavrilita. It's just the "kick off point for a long term continuous support platform for Moldova," said Baerbock. Gavrilita formally signed an application for accession of Moldova to the European Union shortly after the Russian invasion.

Moldova a country with 2.7 million people is dealing with an influx of 400,000 refugees. About 100,000 have decided to stay.

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About 18,000 people in 134 countries were surveyed by Hubbub, a international group, based at Durham University. The survey found men and women need 5 to 6 hours of rest doing activities in which they are alone- doing things which they find restful which can vary by person. The survey shows the people who are rested do better on a well being scale. These activities include watching television, doing hobbies, gardening, taking a jog or a walk, reading, listening to music. The rhythms of work, of how we use time, also affect our well being. The most problematic thing is the notion that somehow when we rest or take some time to do restful activities we are lazy, say the authors of the study. Of the activities reading came first, then being in a natural environment, being on one's own, listening to music, and doing nothing in particular. About two thirds of people feel they were not getting enough rest. Interestingly the wellbeing gradually decreases when it is over 6 hours- so it is something like engagement in life combined with periodic rest periods that produces good results.  And the fading boundary between rest periods alone and work because of cell phones and other devices is not a positive. ...

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The corporate income tax rate for American companies is 35%. But many American corporations do not pay 35%. G.E. is likely to pay no federal income tax in 2010. G.E. Capital lost billions during the financial crisis and it is using a tax loss carry forward. It is also using a tax break called the active financing exception which allows U.S. companies to avoid taxes on overseas profits if those profits are made by actively financing some activity or deal, a tax loophole created in 1997 that G.E. lobbies hard to keep. For G.E. the worldwide tax burden was 7.4%. Google also pays a low tax rate. Robert Willens, a corporate tax expert, says the typical multinational corporation pays about half the stated tax rate.

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China has used the experience gained from an earlier SARS outbreak to tackle the virus outbreak in 2019 which started at a food market in Wuhan. Early detection, strict quarantines, and other measures, were taken. A viral pneumonia outbreak happened in Wuhan, a city of 19 million. 59 people were quarantined and the largest food and seafood market in Wuhan was shut down quickly. Between the first case on December 12 to the detection of the new strain of coronavirus in 1 month, China acted with speed, showing China's strength in public health resources and research labs.

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The FDA approves Governor De Santis proposal for importing drugs from Canada. Colorado is one of the other states that have applied. The drugmakers continue their opposition even if this means lower prices for the American people of excessively higher priced American drugs compared to other countries. Both Republicans and Democrats agree prices have to come down and support importing of drugs into the US, then why is it taking so long for the FDA  to approve state proposals? The Biden administration has issued an executive order for the FDA to work with states on this.

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A former Merrill Lynch banker is shown by WSJ responsible for economic actions leading to economic meltdown in Lebanon. Lebanese currency is worth 2% in relation to the dollar and no state supplied electricity.  For most of the modern period since 1800 this part of the world has represented a place of tranquillity and rule of law. The story of the economic collapse of Lebanon as a result of unscruplous finance at the central bank leading to arrrest of Riad Salameh is told in WSJ. It acts as a reminder and warning that once tranquil places can be dislocated and turned upside down by allowing unscruplous financial dealings in the economic affairs of a Nation, putting too much trust in finance or finance professionals. Trust is easily subverted once placed by the People. It can happen in any part of the world.  It can happen in developed nations as happened during the 2009 financial crisis. A finance professional governor of the central bank of Sri Lanka raised borrowing costs with a unscruplous bond auction in 2005 leading to higher borrowing costs and bankrupting the country. This results in the familiar guardrails for democracy and rule of law collapsing in unpredictable ways leading to disaster.  ...

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This report in The Mint gives information on the extensive preparation for 5G in India including auctioning of 5G spectrum for 51,236 Mhz that was allocated to telecom service providers for 150,000 crore rupees. Jio bid 88,000 crore for half of the spectrum with Airtel Bharti bidding with Vodafone for the rest. The cumulative economic impact on transformation of India is expected to be $450 billion for India by 2035, according to the Ministry of Communications. PM Modi will be shown three different case studies of use in education and other fields. PM's vision is for India to develop 5G parallel to global standards and take the lead in 6G technology. Jio video case will show how a teacher in a school in Mumbai reaches out to students in Maharashtra, Gujarat and Odisha. The Airtel video will show how a girl in Uttar Pradesh learns about the solar system using 5G augmented reality. The Vodafone case will show how safety of workers in an underground construction tunnel of Delhi Metro can be maintained through creating a digital twin of the tunnel on the dias. The digital twin would help give safety alerts to workers from a remote location. Other demos include smart ambulances, health diagnostics, precision drone based farming, smart agri-programme and others. ...

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The U.S. National Security Adviser Jake Sullivan, says that it is imperative that the WHO report on the origins of the virus be "independent" and "free from alteration by the Chinese government." This echoes earlier concerns of the Trump administration and of president Trump who made the decision to quit WHO on this issue.

Sullivan noted that "reengaging with the WHO also means holding it to the highest standards. We have deep concerns about the way in which the early findings of the Covid 19 investigation were communicated, and questions about the process used to reach them."

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Dyeing a pair of jeans requires 100 litres of water for the dyeing process and 15% of artificial synthetic dyes make their way into waterways as pollution. In this report The Hindu shows how centuries old indigo plants are being revived, many of them native to India. These plants contain 0.5% of Indican which exposed to oxygen produces the blue substance Indigotin. It is one of the few naturally based dyes for cotton fabrics. Other plants native to Idia also produce dyes that are less harmful to the environment. These dyes replace synthetic dyes made from petrochemical derivatives.

The work of Padma Shri Vankar, formerly of IIT Kanpur and her colleagues has helped identify and create dye extraction and dyeing methods for several plant species. This includes Nepal barberry of Arunachal, wild canna , Flame of the Forest from which colors for Holi festival are derived.

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For a change see parts of Tokyo you normally do not see, and way down in Kyushu island see the Kagoshima region. It is part of this trip to Japan for a 4 day break suggested in The Times of London. 1) Take the Toei streetcar- take the Tokyo Sakura tram running from Minowabishi station in Arakawa, where bits of old Tokyo still exist in narrow alleyways and pubs. Take the tramcar to Waseda station in Shinjuku. An hour's ride and 30 stations with a one day ticket to hop on and off as you feel like. 2) Take in the Sumoida Hokusai museum, and see the famous works of Katsuhika Hokusai, at a museum dedicated to him. Don't miss the woodblock print Under the Wave off Kanagawa, and the series Thirty six views of Mt. Fuji.  3) On Day 2 head to Kagoshima, a 2 hour plane ride from Tokyo. There are 20 flights from Hnaeda airport in Tokyo to Kagoshima airport. You will see Mt. Fuji from the plane at 11,000 feet. In Kagoshima take the airport bus to the city centre and get on the Sakurajima Ferry, about 15 minutes running 3-4 times an hour, 24 hours a day. It goes to Kirishima-Kinkowan National Park, with active volcano Mount Sakurajima, cedar woods, sandy beaches, azalea covered mountain slopes. Try the mineral springs or onsen for a serene atmosphere. 4) For Day 3 take the Ibutama train for an hour ride from beachside town of Ibusuki for sea views, and look for "Mystery Island." During the summer months a sandbar causeway appears for some time allowing one to cross and look at the uninhabited island amidst the sound of the waves and sea air. Then back to Tokyo after a zen period of serenity and calm.   ...

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England win 3-2 over Mexico at the Azteca stadium with Bellingham's 2 goals,, Pickford's goalkeeping and Tuchel's defensive line holding to the end. England were down to 10 players in the second half. Kane, Rice, Stones and Gordon held on for England to beat Mexico at the Azteca, in a win on Mexico's home ground. The last 15 minutes including 11 minutes of overtime were all England proving that they could defend well. England heads to play Norway and Haaland knowing that German coach Tuchel has all the right instincts and the right players Bellingham, Kane, Rice, Stones, Gordon and Saka in place, for a path into the semifinals.

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The different strategies of Apple and Samsung in getting to the point where the two companies now dominate the smartphone market. Whereas Apple makes only one phone, its iPhone, Samsung's strategy is to have multiple phones in each price segment. It has five levels of Android based phones, with 2-3 models in each price segment. Samsung also benefits from doing its own maufacturing. When faced with a number of technologies Samsung's strategy is to bet on all of the technologies until one of them emerges as a winner, and then concentrate resources on that technology. It uses a similiar strategy for televisions. Apple by contrast places more emphasis on original design and profit margins over sales, gaining sales without eroding margins by being the first innovator in the market. It also has its own unique arrangement for manufacturing at lowcost with Foxconn in China that supports its high margins. Apple is secretive about its designs and promotes its brand heavily with its own retail stores. Apple also uses its innovative edge as leverage to steer profits away from carriers. Analyst estimates are that carriers such as AT&T and Verizon pay about $400 per iPhone to subsidize its cost because this is the only way to get customers into their retail stores. IDC estimates are that the smartphone market is $219 billon in 2012. Both companies are very close in volume- IDC estimates Apple shipped 93.2 million smartphones in 2011, compared to Samsung's 94 million units. Apple has market share of 23.5% in the fourth quarter 2012, up from 16% in 2010. Samsung has 22.8%, up from 9.4% in 2010. Apple and Samsung have together taken 91% of operating profits of all cellphone companies in the fourth quarter, an increase of 30% from 2011, according to Strategy Analytics....

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What happens now that Sanae Takaichi is prime minister of Japan to the deal negotiated with the US for trade? Akazawa who negotiated it under the previous prime minister is the  Economy minister in the new Sanae Takaichi government.

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Following the pandemic France is boosting aid to Africa increasing foreign aid and combining development agencies to target funding to create value for the people of Africa. The aid to all parts of the world increased from 10.9 billion euros to 12.8 billion euros in 2020, By 2022 the target for Macron and France is 0.55% of GDP for world aid.

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Kyle Wingfield meets up with Robert Mundell, Nobel winner in 1999. What does he have to say now? He thinks the oil prices are on track and would reach $130 by 2020 with 3.5% inflation, starting with $34 a barrel in 1980 doubling to $68 in 2000 and doubling again to $136 in 2020. Today its already at $136 but he thinks it will settle down lower to about $100, so hethinks were not so far off track. On inflation he looks at the price of gold at$850 an ounce , and now its still about the same, with high inflation gold should be at $1500, so he does not see the public thinking high inflation is coming. He was in favor of the Reagan tax cuts and set the groundwork for this and aslo supported the euro. He believes the Bush tax cuts should be kept as it would be disastrous for the world economy. Mundell has always believed that there is a link between economic growth and lower tax rates. He advocates corporate tax rates of 25%. Tax rates went down to 28% under Reagan back up to 40% under Clinton and down to 35% under Bush. Hewould like to see a ceiling on marginal rates of 30%. He would like to see a fixed exchange rate so that there are not these large currency rate swings, the euro should be valued somehwehere between 90 cents to the euro to $1.30. The US has a growing population and better adoption of innovation with a younger population than Europe so he sees the USA as a leader in innovation and growth and the dollar or some new global currency should be formed for a global economy. Just as he supported the euro he supports a currency for Asia. He does not see overvaluing the Chinese currency as doing much good as he sees the Japanese economy hurt by the overvaluing of its currency after a period of Japoan bashing. He is an advisor to China on currency issues....

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Queen Elizabeth leads tributes to the National Health Service for "the grief and loss felt by so many," as Britain pauses for a minute's silence, on the first anniversary of the lockdown of March 23, 2020. She offers flowers to St. Bart's hospital, after the recovery of Prince Phillip who was in hospital for one month for heart surgery and recovery. Pictures of a canon preparing for a outdoor garden service at Durham Cathedral, and lighting of candles at other cathedrals, offer glimpses of a solemn moment of silence, and the nurturing of hope for the recovery.

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Special Counsel Mueller's team says in a court filing that Paul Manafort, Mr. Trump's campaign manager should face a prison term of 19 to 24 years for "serious, longstanding, and bold" financial crimes.  Manafort also faces financial penalties totaling about $50 million, according to the filing. Some of the problems date to years before Manafort joined the Trump campaign as campaign chairman.

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Juliet Small on ECHR how it got to this in 2025 where it ignores the right of governments to protect their own ctiizens. Of law turned upside down by lawyers in Strasbourg in 50's and 60's and after to where the legal class appears to have messed it up so much and left it to politics to clean up this mess in Europe.

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The Biden administration policy is similar to the Trump administration. The response is to send migrants back to their home countries. One of the lessons for the European Union and for the US of the last few years is that the US and EU cannot have migrants issue create discord within public opinion, when so much needs to be done for infrastructure, competition with Asian countries such as China, and the needs for recovery from the pandemic. With wars, natural disasters, smuggling of migrants, new waves of migrants required a different approach. Promoting development and providing help to the economies of these countries is seen as a more effective approach, and the best way to do this is to help strengthen America and the European Union by building a consensus on development and infrastructure investment.

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David Reilly says the Fed's response to the large volatility in the stock market after the credit downgrade of the U.S. to AA+ makes sense. The Fed's Open Market Committee voted 7-3 on August 9, 2011, to keep interest rates exceptionally low till mid-2013. With credit markets working and the financial system having sufficient liquidity the Fed did not need to take drastic action. Coming only a short period after the end of QE II, a QE III could be seen as an over-reaction. Another reason for the Fed's action- more pressure was needed for the U.S. government and Congress to shoulder responsibility for the economy. In an earlier statement the Fed had pointed out that the Fed by itself can only do so much and this is consistent with that thinking. There are important headwinds from housing, large consumer debt, deficits, and high unemployment that the Fed alluded to in that statement that will take time to reverse with policy action on several fronts over a longer period. In the speech made on June 6, 2011, U.S. Federal Reserve chairman, Ben Bernanke, said "monetary policy cannot be a panacea."...

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How China by not buying oil can keep oil prices low. China's reserves are full and even during April to June 18 during closure of Hormuz did not use oil stocks. It appears that China simply cut the use of oil, increased renewable energy and used coal supplies. This has relieved pressure on oil prices. The US by increasing supplies and countries like China, India, Germany reducing their oil use will help prices of oil remain low in July 2026 compared to the surge to $125 during the first time Hormuz was closed in April-May 2026.