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Arab News Sharjah UAE News

Sharjah Ruler opens House of Wisdom

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah has inaugurated the House of Wisdom, a new cultural edifice and an iconic architectural marvel situated near the University City of Sharjah, which celebrates the emirate’s year-long tenure as UNESCO World Book Capital 2019.

Reimagined as a library of the 21st century, the newly opened House of Wisdom, HoW, is inspired by modern architecture comprising 15 lobbies and halls spread across two storeys.

Set on an elevated platform spanning 12,000 square metres, Sharjah’s House of Wisdom has been designed as an immersive space for learning, sharing, creating, and accessing knowledge. Key spaces bathed in natural light include an expansive lobby, the Al Rasheed Hall, the Espresso Books, Knowledge Terrace, the Wisdom Vault and the Al Ma’moun Exhibition; the Little Reader, the Wisdom Square, the Ibn Duraid Reading Area, the Al Jazri Lab, the Ladies Diwan, the Al Jarhmi Library, and the Al Khawarizmi Exhibition.

Developed by the Sharjah Investment and Development Authority, Shurooq, the new knowledge centre and digital library complex is a hallmark of the libraries of the future – a flexible design that allows the library to grow with the times, vast digital resources, a fabrication lab with 3D printers to build prototypes of experimental projects and cutting-edge technology to print and bind books within minutes. The library’s futuristic suspended private pods for quiet reading and a host of collaborative community spaces are designed in a way that promotes academic and non-academic pursuits, social learning and cultural interaction.

Designed by Foster + Partners, an award-winning architectural firm, the structure also includes lecture halls, reading lounges, exhibition spaces, a dedicated children’s educational area, a central courtyard, a café, a restaurant, and outdoor gardens planted with local varieties of fig, ghaf and palm trees.

Following the inauguration, the Ruler of Sharjah toured the new cultural landmark accompanied by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq; Mohammed Obaid Al Zaabi, Chairman of the Protocol and Hospitality Department, Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq; and Marwa Obaid Al Aqroubi, Director of the House of Wisdom.

At the library which will be home to 305,000 books, of which 200,000 are in the digital format and 11,000 comprise books in varied languages, the Ruler of Sharjah was briefed on how the futuristic library has been reinterpreted to adapt to the fast-changing world of technology. The children’s library “The Little Reader” houses more than 2,000 books, while another has been set aside for youth with 3,000 titles.

The Sharjah Ruler also viewed the “Book espresso machine” that prints and binds books on demand in minutes, along with the digital self-service station.

Continuing his tour, Dr. Sheikh Sultan visited the Al Jazari Laboratory (Fabrication Lab), named in honour of inventor Badi Alzaman Al Jazari’s (1136 AD – 1206 AD) scientific contributions to the world. The lab is equipped with cutting-edge technologies and state-of-the-art 3D printers, laser and vinyl cutting machines, and Computer Numerical Control tools.

Sheikh Sultan also visited the spaces dedicated to women and children, including the Ladies Diwan, and the library for children between the ages of 3 and 10 years.

The Sharjah Ruler also toured Iraqi-born, New York-based artist Wafaa Bilal’s major solo exhibition titled “168: 01”, showing for the first time in the Arab world. The exhibition is an expression of the historic loss of a priceless cultural heritage that occurred when a fire destroyed more than 70,000 books at the library of the College of Fine Arts at University of Baghdad in 2003.

He stopped at the Al Rasheed Hall, a space for hosting seminars, events, and conferences in HoW and concluded his tour with a walk through the landscaped gardens featuring 331 trees of 12 different species, and which overlooks the Sharjah World Book Capital 2019 monument, “The Scroll” – a 36.5-metre piece of public art created by British sculptor Gerry Judah, inspired by an ancient scroll design that is representative of a celebration of reading and the power of books to unite people.

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Business Economy India News

Govt to sell 20% stake in IRCTC

The Union government has proposed to sell up to 2.40 crore shares or 15 per cent of the paid-up equity share capital of IRCRTC through the offer of sale route.

It has also proposed an additional share sale of up 80 lakh equity shares of 5 per cent of the paid-up equity share capital, in case of oversubscription.

In total, the base offer size and oversubscription option represent 20 per cent of outstanding equity shares of the company.

The floor price of the offer has been fixed at Rs 1,367 per equity share.

The IRCTC share sale will take place on a separate window of the stock exchanges on December 10 and December 11. Only retail investors shall be allowed to place their bids on December 11.

The Twitter handle of the Secretary of Department of Investment and Public Asset Management (DIPAM) said on Wednesday: “Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option.”

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-Top News Arab News

Asian Lite Daily Digital Dubai – December 10, 2020 – India, UAE Cement Food Ties

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-Top News USA

Asian Lite Daily Digital USA – December 9, 2020 – Apex Court Approves Biden Win

US President Donald Trump

Apex Court Approves Biden Win; Gates Prefers India Over China; ‘Grandson of a poor Indian farmer’: America’s Doctor Vivek Murthy; Rail project: Nepal chooses India over China – all in Asian Lite Daily Digital USA – please click here to read.

Categories
-Top News USA

US Supreme Court Rejects Plea Against Pennsylvania Results

The US Supreme Court has rejected a challenge against President-elect Joe Biden’s victory in Pennsylvania.

Republicans in the state wanted to overturn certification of the result, but justices rejected the request in a one sentence ruling, the BBC reported.

It is a blow to President Donald Trump, who has previously suggested without evidence that the election result would be settled in the Supreme Court.

Trump lost his bid for re-election last month.

Since then, he and his supporters have launched dozens of lawsuits questioning the vote results. None have come close to overturning Biden’s victory.

The Democratic candidate defeated Trump by a margin of 306 to 232 votes in the US electoral college, which chooses the US president. Biden won seven million more votes than the president nationwide.

US President Donald Trump

Pennsylvania’s Governor Tom Wolf has already certified Biden’s victory in the state. Under the rules of the electoral college, the state’s 20 electors will meet on December 14 to officially cast their votes for the president-elect.

Republicans in the state, however, wanted to overturn Wolf’s certification. The state’s top court had rejected their bid last week, which made them appeal to the US Supreme Court in Washington.

Lawyers for the state and Governor Wolf criticised the case as “fundamentally frivolous”.

“No court has ever issued an order nullifying a Governor’s certification of presidential election results,” they wrote.

And on Tuesday the Supreme Court dismissed the suit. The one-sentence ruling did not even cover the Republicans’ allegations, reading simply: “The application for injunctive relief presented to Justice Alito and by him referred to the Court is denied.”

Before, during and after the election, Trump has made unsubstantiated claims of electoral fraud and suggested that the result would eventually be decided in the Supreme Court.

The president appointed three of the court’s justices during his single term in office. Most recently, he controversially placed conservative judge Amy Coney Barrett on the bench after the death of the court’s most liberal justice, Ruth Bader Ginsburg, just weeks before the election.

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Cricket Sport

Natarajan Overwhelmed With His Dreamy First Outing

Left-arm fast bowler T Natarajan, who came out with an impressive performance during his maiden outing with Team India in the limited-overs series against Australia, believes “last few months have been surreal” for him.

On his first international tour, the left-arm pacer stepped up with his yorkers and slower variations, and in the absence of Jasprit Bumrah, helped India to a 2-1 T20I series win against Australia as he picked up six wickets in the three matches at an economy of just under seven.

Natarajan made an impact on his ODI debut as well, picking the wickets of Marnus Labuchange and Ashton Agar in another match-winning spell in the third game of the series at the Manuka Oval.

“The last few months have been surreal. My maiden outing with Team India and we won the T20I series. A dream come true moment made special by the champion bunch,” Natarajan said in a tweet on Wednesday.

“I thank my teammates for their constant support and encouragement. Thank you everyone for your love and support,” he added.

Natarajan had first impressed the cricket fraternity with his yorkers during the 13th edition of the Indian Premier League (IPL) played in the United Arab Emirates. Playing for SunRisers Hyderabad (SRH), he picked 16 wickets in 16 matches and courtesy that he earned an India call-up.

The 29-year-old, however, wasn’t supposed to be in India’s T20I squad. He was originally picked as a net bowler, but an injury to spinner Varun Chakravarthy opened up an opportunity and that’s how Natarajan was added to the squad, an opportunity he seized with both hands.

The T20I leg of the tour, which ended on Tuesday, however saw Natarajan posing with both the series trophy and the Player-of-the-Series trophy, which Hardik Pandya had handed over to him, in the team photo.

“Natarajan, you were outstanding this series. To perform brilliantly in difficult conditions on your India debut speaks volumes of your talent and hard work. You deserve Man of the Series from my side bhai! Congratulations to Team India on the win,” Pandya tweeted after Tuesday’s game which India lost by 12 runs at the Sydney Cricket Ground.

Team India skipper Virat Kohli also praised Natarajan’s work ethic and revealed that he could be a handy asset heading into the T20 World Cup to be played at home next year.

“Special mention to Natarajan — because in the absence of Shami and Bumrah he has been the guy who has stood up and really delivered under pressure. Outstanding for the fact that he is playing the first few games at the international level, looks very composed, he is very sure of what he wants to do,” said Kohli while speaking to reporters after the match.

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Categories
-Top News India News

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Football Sport

Former Argentina Coach Alejandro Sabella Dies

Alejandro Sabella (L) with Lionel Messi

Former Argentina head coach Alejandro Sabella has passed away at the age of 66 after a battle with cancer and heart problems.

Sabella died on Tuesday at the ICBA clinic in Buenos Aires about 13 days after he was admitted with dilated cardiomyopathy, a disease that makes it harder for the heart to pump blood to the rest of the body, reports Xinhua news agency.

“The ICBA Cardiovascular Institute regrets to inform that the patient Alejandro Sabella died as a result of his diagnosis of dilated heart disease secondary to coronary disease and long-standing cardiotoxicity,” the hospital said in a statement.

Sabella was head coach of Argentina from 2011 to 2014 and guided the Albiceleste to the 2014 FIFA World Cup final, which they lost to Germany in extra-time.

Alejandro Sabella (R) with Lionel Messi

He was also a skill-ful mid-fielder and earned eight Argentina caps in a playing career that included spells at River Plate, Sheffield United and Leeds United.

Argentina captain Lionel Messi was among those to pay tribute to Sabella in an emotional Instagram post late on Tuesday.

“It was a pleasure to share so much with you,” Messi wrote in a message alongside a photograph of the pair embracing during the 2014 World Cup in Brazil.

“Alejandro was a great person, as well as being a great professional who marked my career and I learned a lot from him. Together we experienced some of my best football memories during the World Cup qualifying stage and also at the World Cup. My condolences to all his family and friends,” the Barcelona forward added.

The news came less than two weeks after the death of football legend Diego Maradona, Sabella’s Argentina teammate in the early 1980s.

Alejandro Sabella (L) with Lionel Messi

“Another harsh blow for football in this dark 2020: the beloved Alejandro Sabella has departed,” said former goalkeeper Ubaldo Fillol, who played with Sabella at River Plate and with Argentina’s national team.

“(He was) an exquisite player, a successful coach who took us to the World Cup final, and a great person,” Fillol added.

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Economy India News

Fitch narrows India’s GDP fall forecast

Global credit rating agency Fitch on Tuesday raised its FY21 GDP growth forecast for India by predicting a narrower economic contraction of (-) 9.4 per cent from an earlier predicted fall of (-) 10.5 per cent.

“We now expect GDP to contract 9.4 per cent in fiscal year to end March 2021, followed by (+) 11 per cent and (+) 6.3 per cent in the following years,” Fitch Ratings said in its latest Global Economic Outlook (GEO) for December.

“The coronavirus recession has nevertheless inflicted severe economic scarring. The need to repair balance sheets, increased caution about long-term planning, and firm closures will limit investment demand.”

Furthermore, it pointed out that increased financial-sector weakness – amid deteriorating asset quality – will hold back credit provision.

“The failure of another bank in recent weeks – the third failure in the past 16 months – underlines the challenges in the financial sector,” the December GEO said.

Recently, India recorded a faster than anticipated economic recovery.

The country’s GDP contracted 7.5 per cent in the July-September period, as the economy rebounded from a record slump of 23.9 per cent in the previous quarter due to slowdown caused by the coronavirus pandemic.

“The Indian economy staged a sharper rebound in 3Q20 from the coronavirus-induced recession than we expected in our September GEO. GDP fell 7.5 per cent yoy (September GEO: (-) 9.6 per cent), up from (-) 23.9 per cent in 2Q20.”

“The rebound in activity was especially sharp in the manufacturing sector: output reached its pre-pandemic level in 3Q20, and the manufacturing PMI hints at further gains. Manufacturing is buoyed by strong demand for autos and pharmaceutical products, in particular.”

According to the rating agency, the rebound in the services sector was more muted amid continued social distancing, with containment measures scaled back only gradually.

“The outlook is brighter owing to an expected rollout of various vaccines in 2021. India has pre-ordered 1.6 billion doses including 500 million doses of the Oxford/AstraZeneca vaccine.”

Growth chart. (File Photo: IANS)

“Distribution should allow a faster-than-expected easing of social-distancing restrictions and boost sentiment.”

However, it pointed out the likelihood that the vaccine rollout over the next 12 months will not reach the majority of the people given the huge logistical and distribution challenges in a heavily populated country like India.

“Regional shutdowns are likely in the next few months while the virus is still spreading.”

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Categories
Economy USA

Biden’s Policies May Impact Asian Credit Conditions: Moody’s

Joe Biden

The policies of US President-elect Joe Biden’s administration may have a marginal impact on the credit conditions in Asia and is less likely to deepen trade linkages between the US and Asia, said a report by Moody’s Investors Service.

The report also said that the US policy towards China is unlikely to change dramatically in the early stages of the Biden administration.

In addition, a renewed emphasis on improving relations with traditional allies in Asia is likely to confront the longer-term shifts in the economic and geopolitical balance that are increasing China’s centrality to the region.

“In consequence, we expect the Biden administration’s policies to have at the most a marginal impact on credit conditions in Asia,” it said.

It noted that outside China, Biden’s policy may attempt to revive the “pivot to Asia” adopted by former President Barack Obama.

This policy aimed to increase diplomatic and investment ties with the region while retaining the strategic imperatives of closer security relations with Australia, India, Japan and some Association of Southeast Asian Nations (ASEAN) countries.

However, the Biden administration is more likely to focus on boosting security alliances, with less emphasis on enhanced trade linkages.

“With Japan and Korea, we expect Biden to restore traditional relations under long-standing alliances, making them less transactional. As such, issues related to cost-sharing for military spending are not likely to be intertwined with trade issues, with the resulting investment certainty supporting the automotive and semiconductor sectors.”

The US acting to moderate tensions between Japan and Korea should also help improve reciprocal trade for both countries. For Korea, however, geopolitical risk will remain elevated, with Biden likely to maintain a strategy of maximum pressure on North Korea.

The Biden administration is less likely to deepen trade linkages between the US and Asia, as per the report.

The US remains unlikely to join multilateral trade agreements such as Comprehensive and Progressive Agreement for Trans-Pacific Partnership in the near term.

This abstention, coupled with Asia-Pacific countries’ recent completion of the Regional Comprehensive Economic Partnership trade agreement, will accelerate intra-Asia trade flows and China’s rising influence, with a positive credit impact for the most export-oriented sovereigns in Asia, it added.

The Moody’s Investors Service report also said: “With the passage of major legislation, including Biden’s proposed fiscal stimulus incorporating green infrastructure, remaining difficult irrespective of the outcome of the January 5 runoff elections in Georgia, we expect the US Federal Reserve will maintain a loose monetary policy to support economic recovery.”

The Fed policy will support capital flows to some Asian emerging markets, which could in turn present policy challenges, including on exchange rate management, for those with large external imbalances.

Even under a Biden administration, the US will maintain scrutiny of the currency policies of Asian countries with large trade surpluses with the US, it said.

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