CHENNAI TUESDAY AUGUST 20, 2019 `5.00 PAGES 22 LATE CITY EDITION SRI LANKA NAMES ‘GENOCIDE’ OFFICER AS NEW ARMY CHIEF Lt Gen Shavendra Silva has been accused of grave abuses, including Tamil genocide during the country’s 26-year civil war BLAMED FOR TARGETING TAMIL CIVILIANS U.S. ‘CONCERNED’ ABOUT APPOINTMENT SL President Maithripala Sirisena’s office on Monday said that Silva, 55, has been named as the new army chief. Silva headed the Army’s 58th Division in the final battle against LTTE rebels in the final stages of the civil war in 2009. His brigade was accused of attacking civilians, hospitals and stopping humanitarian supplies to trapped Tamil civilians ■ ■ ■ Silva’s name was mentioned in the resolution passed by the UNHRC in 2013, alleging rights abuses by the Sri Lankan Army Silva’s appointment may strain Lanka’s cooperation in UN peacekeeping operations and defence cooperation with the US The US expressed ‘deep concern’ over Silva’s appointment | P13 45,000 ESTIMATED NO. OF TAMIL CIVILIANS KILLED IN LAST MONTHS OF THE WAR CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Modi calls Trump, shares concern on Pak hate speech Says extreme rhetoric and incitement to anti-India violence by Imran not conducive to peace; schools reopen but attendance low, parents don’t send children because of the tense situation A school staff member cleans a deserted classroom in Srinagar | AP National population policy is cooking S U M I S U K A N YA D U T TA @ New Delhi DAYS after PM Narendra Modi expressed concern about the explosive growth in population, highly placed sources told TNIE a national policy on family planning will soon be unveiled. “The issue of population control was highlight of this year’s I-Day speech and a major policy intervention on this is definitely in the pipeline,” a top source in the Niti Aayog said. “First meetings between officials of the Prime Minister’s Office and Aayog are being planned to discuss how to take the matter forward,” he added. The PM had in his speech said, “There is one issue I want to highlight today: population explosion. We have to think, can we do justice to the aspirations of our children? There is a need to have greater discussion and awareness...” Officials with Union Ministry of Health and Family Welfare hinted at ways to encourage family planning through both incentives or disincentives. An old-timer in the ministry pointed out how Atal Bihari Vajpayee government in 2000 had rejected proposals by a Commission headed by former CJI M N Venkatachaliah on formulation of Population Control Law. “This government, however, is looking at a radical decision to ensure that population explosion stops for good,” said the official. India is slated to be the most populous nation by the turn of the next decade with population swelling to 1,452 million in 2025. It is currently in the third stage of demographic transition where birth rates are falling but the population continues to grow as 51% is in the reproductive age group. ON a day when primary schools reopened in the Valley a couple of weeks after the stunning reorganisation of J&K, Prime Minister Narendra Modi called up US President Donald Trump and shared his concern over Pakistan’s continued hate speech inciting violence in Kashmir. Without naming his Pakistani counterpart Imran Khan, Modi flagged the “extreme rhetoric and incitement to anti-India vio- lence by certain leaders in the region”, saying it was not conducive to peace. He underlined the importance of creating an environment free from terror and violence and ending cross-border terror. For his part, Trump conveyed the importance of reducing tensions between India and Pakistan and maintaining peace, the White House said. Last Friday, Imran had called up Trump around the time the UN Security Council was in a closed session to discuss Kashmir on the request of Pakistan and China. In his 30-minute conversation with Trump, Modi discussed a range of issues, including Afghanistan and bilateral trade issues. Both leaders are expected to meet next week at the G7 Summit slated to be held in France. Modi’s call came on a day when Afghanistan is celebrating its 100th year of Independence, a ENEMY AT THE GATES With pessimism deepening over global growth prospects, India can ignore these distress signals only at its peril S U N I T H A N AT T I & J AYA N TA R O Y C H O W D H A R Y T he global economic landscape is replete with slowdown signs, and it appears the recession beast may strike in the summer of 2020, or when summer turns to autumn. The surest signal of its arrival surfaced last week, when the dreaded ‘inversion’, where short-term bond rates surpass long-term bond rates, attacked the US market — a phenomenon last seen in 2007, months before the 2008 recession. Just as morning follows a rooster’s crow, inversions often precede recessions. All recessions in the US in the past 45 years saw yield curve inversions preceding them. “The US 10-year vs two-year yield curve, a near perfect predictor of recessions 6-24 months ahead, has inverted. We expect early easing action by the Fed to delay the onset of recession until the second half of 2020,” said Prasenjit K Basu, chief economist, CrossAsean Research. Bond traders are smelling blood as global growth rates are falling with intimidating speed. Crisis struck nations either due to economic or political policy blunders. But much of the trouble began when US President Donald Trump tightened norms of trade, particularly with China. In hindsight, Trump’s ‘trade wars are easy to win’, will be proved wrong, as US economy itself is growing at 2.1%, less than its historical average. China took the biggest hit, as its growth plunged to a 27-year low in June. Given the Brexit turmoil, the UK is feared to be in recession as we speak, while Japan and Singapore are fighting tough to ward off a recession. The world’s 4th-largest economy Germany is seeing its , , GDP contract, Italy’s growth is in tatters amid a political crisis much like Asia’s financial hub Hong Kong, whose economy came to a standstill as the threat of Chinese military intervention looms large. While South America’s Brazil and Mexico are weakening, Argentina’s stock market crashed 48% — the 2nd largest singleday drop for any stock market in the world since 1950 — largely due to political setbacks. “The bigger problem for Asia (and other trade-dependent global economies like Germany) is that China’s domestic demand is slumping despite China’s agg ressive monetary SECOND OF 3-PART SERIES stimulus (over the past 16 months) and recent fiscal stimulus,” Basu said, adding China’s slowing domestic demand is likely weakening the global economy This prompted invest. ment bank Morgan Stanley to flash neon signs that if the US and China continue to raise tariff and non-tariff barriers over the next 4-6 months, global economic growth rate will fall to a 7-year-low of 2.8% and could enter recession in 2020. Stagnating global trade triggers a negative cycle, where businesses don’t spend, create fewer jobs, reduce wages, eventually leading to lower aggregate demand. CONTINUED ON: P8 Bad news everywhere Bond yields have turned negative in the highest-rated euro-area markets. Tenyear yields fell below 0.1% in both Spain and Portugal last week, compared with 8% and 18% seven years ago when the nations battled their worst debt crisis Moody’s Investors’ Service has rated seven countries — Ukraine, Greece, Venezuela, Belize, Jamaica, Argentina, and Belarus — as having a significant amount of credit risk. These countries are fast approaching or have narrowly escaped bankruptcy In Ukraine’s case, Moody’s says, creditors can expect a 35-65% recovery rate on loans issued by the country. According to Moody’s, the likelihood of a distressed exchange, and hence a default on government debt taking place, is 100% DISSENT BREWING Railway apprentices serve tea for certificate J O S E K J O S E P H @ Tiruchy AT a time when youngsters across the country are struggling to find suitable job opportunities, hundreds of apprentices recr uited for ‘skill training’ by the Indian R a i lw ay s a r e b e i n g engaged in odd jobs like making and serving tea, gardening, and serving as office assistants. Most of them are not being provided any training, but will receive certificates at the end of service. There are 411 trainees at this railway workshop situated at Ponmalai in Tiruchy, say sources. Most of them are from northern parts of the country. “There are no specific jobs for these trainees under the apprenticeship pro g ramme,”say sources. “Officials use them as per their need... To clear the garbage, to do gardening work... These apprentices do these jobs for weeks together.” Sources add that the trainees are afraid of raising these issues with the management for the fear of being fired. Rail provides a stipend for the apprentices in the range of P5 `5,700 to `7,300. How the stipends work ITI passouts get around `5,700 per month in first year, `6,500 the second year, and `7,300 the third and final year of work country from where the US wants to pull out its troops with Pakistan’s help. Imran hopes to use it as leverage to poke India. As for the situation in Kashmir, hardly any students went to school on Day One because of the tense situation, indicating the need for more confidence-building measures in the Valley. Schools buses, too, did not ply. However, razor and concertina wires blocking roads were taken away as paramilitary personnel P11 maintained tight vigil. Heavy rain lashes northern TN districts Pak Army chief gets 3-year extension Four persons were killed in rain-related incidents over the past two days in Vellore and Tiruvannamalai districts. In Kansalpet, water logging left residents stranded. Villupuram also received heavy showers, and residents fear further rain will cause Agalur lake to breach walls and enter habitations | P8 Pakistan Army chief General Qamar Javed Bajwa got a three-year extension in service in view of the “regional security environment”, an official statement said. He was to retire in November Bilateral trade talks Karti challenges case transfer to spl court Modi told Trump he hoped India’s commerce minister and the US Trade Representative would meet at an early date to discuss knotty bilateral trade issues Congress MP from Sivaganga Karti Chidambaram moved the Madras High Court on Monday challenging the transfer of a case pending before the Additional Chief Metropolitan Magistrate Court (Economic Offences), in Egmore to the Special Court for Cases Against MPs and MLAs. | P4 CM gives fillip to grievance redressal Edappadi K Palaniswami launches special programme to strengthen the weekly grievance meets held at the Collectorate every Monday Instead of villagers having to go to govt offices, now, the officials will visit villages and meet the public | P5 Veteran musician Khayyam no more V SAKTHI EXPRESS NEWS SERVICE EXPRESS READ Mumbai: Veteran composer Khayyam, best known for his music in classic films such as ‘Kabhi Kabhie’ and ‘Umrao Jaan’, passed away after prolonged illnesses at a hospital here on Monday. The noted composer, 92, was admitted at the ICU at Sujay Hospital in suburban Juhu due to lung infection
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