G20 leaders will meet via video conference on today to discuss the coronavirus crisis. The idea of the summit was discussed by Indian PM Modi with other G20 leaders like Australian PM Scott Morrison & Chair of G20 Saudi Arabia's Crown Prince Mohammad Bin Salman Al Saud.

G20 Extraordinary Virtual Leaders' Summit on COVID-19 today

G20 leaders will meet via video conference on Thursday to discuss the coronavirus crisis. The idea of the summit was discussed by Indian PM Modi with other G20 leaders like Australian PM Scott Morrison & Chair of G20 Saudi Arabia's Crown Prince Mohammad Bin Salman Al Saud.

G20 Extraordinary Virtual Leaders' Summit on COVID-19 to be held tomorrow

G20 finance ministers, central bankers had a separate video conference on Monday & agreed to develop an 'action plan' to respond to the outbreak caused by the 'pandemic' Coronavirus (COVID-19).

G20 agrees to develop an 'action plan' to tackle troubles cause by 'pandemic' COVID-19

WION in an exclusive conversation spoke to Suresh Prabhu, who is India chief negotiator (Sherpa) at G20. Suresh Prabhu speaking to our diplomatic correspondent Sidhant Sibal said, "PM Modi is very keen that we must address this global challenge together ". He is currently in self-quarantine as a precaution after his return from Riyadh G20 Sherpa meet.

WION Dispatch: Must develop a vaccine against coronavirus fast, says Suresh Prabhu

India's Prime Minister Narendra Modi has proposed a joint G20 strategy to fight Coronavirus after finalizing time-schedule for SAARC nations video conference. This was confirmed by Australian PM Scott Morrison at a press conference.

World leaders laud PM Modi's initiative, Australia welcomes PM Modi's calls for G20 linkup as well

Indian Prime Minister Narendra Modi has proposed a joint G20 strategy on fighting coronavirus. This was confirmed by Australian Prime Minister Scott Morrison at a press conference.

"I'm also aware that (Indian) Prime Minister Narendra Modi is keen to organise a link-up between all the G20 leaders. I think that's a commendable initiative, Australia obviously supports that, communicate that," Morrison said.

A further meet on G20 finance meeting is also in the offing to deal with the economic impact.&nbsp;

"This is a health crisis, but it has a serious economic impact", the Australian PM said.

Modi spoke to British Prime Minister Boris Johnson and Israeli PM Benjamin Netanyahu and discussed the issue COVID pandemic.

The readout of the Indian government on PM Modi-PM Boris talks said, "The two Prime Ministers exchanged views on the COVID-19 epidemic. Prime Minister Shri Modi expressed concern on UK Health Minister Ms Nadine Dorries testing positive for Coronavirus, and wished her a speedy recovery"

The Indian proposal for G20 strategy comes even as PM Modi on Friday proposed a joint SAARC strategy on fighting coronavirus.

A video conference on joint SAARC strategy will take place at 5 pm today.

Indian Prime Minister Narendra Modi has proposed a joint G20 strategy on fighting coronavirus. This was confirmed by Australian Prime Minister Scott Morrison at a press conference.

Indian Prime Minister Narendra Modi has proposed a joint G20 strategy on fighting coronavirus. This was confirmed by Australian Prime Minister Scott Morrison at a press conference. "I'm also aware that (Indian) Prime Minister Narendra Modi is keen to organise a link-up between all the G20 leaders. I think that's a commendable initiative, Australia obviously supports that, communicate that," Morrison said. A further meet on G20 finance meeting is also in the offing to deal with the economic impact. "This is a health crisis, but it has a serious economic impact", the Australian PM said. Modi spoke to British Prime Minister Boris Johnson and Israeli PM Benjamin Netanyahu and discussed the issue COVID pandemic. The readout of the Indian government on PM Modi-PM Boris talks said, "The two Prime Ministers exchanged views on the COVID-19 epidemic. Prime Minister Shri Modi expressed concern on UK Health Minister Ms Nadine Dorries testing positive for Coronavirus, and wished her a speedy recovery" The Indian proposal for G20 strategy comes even as PM Modi on Friday proposed a joint SAARC strategy on fighting coronavirus. A video conference on joint SAARC strategy will take place at 5 pm today.

Coronavirus: PM Modi suggests G20 link up to deal with the crisis 

Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record.

The oil-rich kingdom has promoted a liberalisation drive, including granting greater rights to women, but faced strong criticism over a crackdown on dissent and the murder last year of journalist Jamal Khashoggi.

The G20 presidency, which Saudi Arabia takes over from Japan, will see it host world leaders for a global summit in its capital next November 21-22.

"The kingdom of Saudi Arabia assumes the G20 Presidency today, leading up to the summit in Riyadh" in 2020, the official Saudi Press Agency said.

"The Saudi G20 presidency is committed to continuing the work from Osaka and promoting multilateral consensus."

Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, hailed it as a "unique opportunity" to shape international consensus, SPA added.

Saudi Arabia will host more than 100 events and conferences in the run-up to the summit, including ministerial meetings, the agency said.

"When Saudi Arabia assumes the G20 presidency, it will become the first (Arab) nation to lead this intergovernmental body," Dennis Snower, president of the think-tank Global Solutions Initiative, said in a statement.

"This presidency... will be challenged by a central paradox: global risks like climate change, demographic developments, such as low birth rates, rising life expectancy and aging societies… but rising populism and nationalism are preventing progress at the multilateral level."

Rights groups have urged G20 member states to exert pressure on the kingdom over its intensifying crackdown on dissent, which has seen several women activists, journalists and political dissidents jailed.

Campaigners reported on Monday that Saudi Arabia had detained at least nine academics, writers and activists, the latest in a series of crackdowns on intellectuals over the past two years.

Activists say that some were subsequently released, but the detention of liberals -- in the midst of the much-hyped liberalisation drive -- underscores what observers call increasing repression and authoritarianism.

"Saudi Arabia steps up to the G20 presidency amid a new wave of arbitrary arrests of peaceful critics, with many human rights defenders still languishing behind bars, and just over a year since the horrifying killing of Jamal Khashoggi," Heba Morayef, Amnesty International's director for the Middle East and North Africa, said in a statement.

"World leaders in the G20 must pressure Prince Mohammed to ensure the enjoyment of all human rights including freedoms of expression, association and peaceful assembly."

Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record.

Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record. The oil-rich kingdom has promoted a liberalisation drive, including granting greater rights to women, but faced strong criticism over a crackdown on dissent and the murder last year of journalist Jamal Khashoggi. The G20 presidency, which Saudi Arabia takes over from Japan, will see it host world leaders for a global summit in its capital next November 21-22. "The kingdom of Saudi Arabia assumes the G20 Presidency today, leading up to the summit in Riyadh" in 2020, the official Saudi Press Agency said. "The Saudi G20 presidency is committed to continuing the work from Osaka and promoting multilateral consensus." Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, hailed it as a "unique opportunity" to shape international consensus, SPA added. Saudi Arabia will host more than 100 events and conferences in the run-up to the summit, including ministerial meetings, the agency said. "When Saudi Arabia assumes the G20 presidency, it will become the first (Arab) nation to lead this intergovernmental body," Dennis Snower, president of the think-tank Global Solutions Initiative, said in a statement. "This presidency... will be challenged by a central paradox: global risks like climate change, demographic developments, such as low birth rates, rising life expectancy and aging societies… but rising populism and nationalism are preventing progress at the multilateral level." Rights groups have urged G20 member states to exert pressure on the kingdom over its intensifying crackdown on dissent, which has seen several women activists, journalists and political dissidents jailed. Campaigners reported on Monday that Saudi Arabia had detained at least nine academics, writers and activists, the latest in a series of crackdowns on intellectuals over the past two years. Activists say that some were subsequently released, but the detention of liberals -- in the midst of the much-hyped liberalisation drive -- underscores what observers call increasing repression and authoritarianism. "Saudi Arabia steps up to the G20 presidency amid a new wave of arbitrary arrests of peaceful critics, with many human rights defenders still languishing behind bars, and just over a year since the horrifying killing of Jamal Khashoggi," Heba Morayef, Amnesty International's director for the Middle East and North Africa, said in a statement. "World leaders in the G20 must pressure Prince Mohammed to ensure the enjoyment of all human rights including freedoms of expression, association and peaceful assembly."

Saudi Arabia takes over G20 presidency from Japan

<a href="https://www.wionews.com/world/south-korea-to-terminate-intelligence-pact-with-japan-in-defiance-of-united-states-263779">Japan and South Korea </a>agreed on Saturday to hold formal talks next month, taking a step towards improving relations strained by decades of acrimony over their wartime past and exacerbated by a simmering trade dispute.

The decision to return to the table was announced at a Group of 20 (G20) meeting and came a day after Seoul made a last-minute decision to stick to a critical intelligence-sharing deal with Japan. The dramatic reversal - after months of worsening relations - was later hailed as a "breakthrough" by <a href="https://www.wionews.com/world/south-korea-salvages-military-pact-with-japan-at-11th-hour-263924">South Korea</a>.

The dispute has its roots in a decades-old disagreement over compensation for South Korean labourers forced to work at Japanese firms during World War Two. It has deepened this year, and upended trade after Japan curbed exports of materials critical to making the semiconductors that are a pillar of the South Korean economy.

"We bought time for intense discussions, but there's not much time left for us," South Korea's foreign minister, Kang Kyung-wha, told reporters after meeting with her Japanese counterpart, Toshimitsu Motegi, at a gathering of G20 foreign ministers in the central Japanese city of Nagoya.

Motegi had earlier said that he wanted to discuss the issue frankly.

"I aim to hold a candid exchange of views on the matter of labourers from the Korean peninsula, which is the core problem, and other bilateral issues," Motegi told reporters in Nagoya.

South Korea made a last-minute decision on Friday to stick with its General Security of Military Information Agreement (GSOMIA) intelligence-sharing pact with Japan. The agreement was set to expire at midnight on Friday and South Korea had earlier indicated it would let it lapse.

The decision was welcomed by Washington. The United States has pressured its two allies to set aside their feud and maintain the pact, seen as linchpin of trilateral security cooperation.

Japan and South Korea agreed on Saturday to hold formal talks next month, taking a step towards improving relations strained by decades of acrimony over their wartime past and exacerbated by a simmering trade dispute.

Japan and South Korea agreed on Saturday to hold formal talks next month, taking a step towards improving relations strained by decades of acrimony over their wartime past and exacerbated by a simmering trade dispute. The decision to return to the table was announced at a Group of 20 (G20) meeting and came a day after Seoul made a last-minute decision to stick to a critical intelligence-sharing deal with Japan. The dramatic reversal - after months of worsening relations - was later hailed as a "breakthrough" by South Korea. The dispute has its roots in a decades-old disagreement over compensation for South Korean labourers forced to work at Japanese firms during World War Two. It has deepened this year, and upended trade after Japan curbed exports of materials critical to making the semiconductors that are a pillar of the South Korean economy. "We bought time for intense discussions, but there's not much time left for us," South Korea's foreign minister, Kang Kyung-wha, told reporters after meeting with her Japanese counterpart, Toshimitsu Motegi, at a gathering of G20 foreign ministers in the central Japanese city of Nagoya. Motegi had earlier said that he wanted to discuss the issue frankly. "I aim to hold a candid exchange of views on the matter of labourers from the Korean peninsula, which is the core problem, and other bilateral issues," Motegi told reporters in Nagoya. South Korea made a last-minute decision on Friday to stick with its General Security of Military Information Agreement (GSOMIA) intelligence-sharing pact with Japan. The agreement was set to expire at midnight on Friday and South Korea had earlier indicated it would let it lapse. The decision was welcomed by Washington. The United States has pressured its two allies to set aside their feud and maintain the pact, seen as linchpin of trilateral security cooperation.

In bid to repair ties, Japan and South Korea agree to summit next month

US-China trade war in 10 dates

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies.

The negotiations in the financial hub will be the first face-to-face discussions since <a href="https://www.wionews.com/world/donald-trump-defends-attack-on-african-american-us-lawmaker-elijah-cummings-239036">US President Donald Trump</a> agreed to a truce with <a href="https://www.wionews.com/world/xi-jinping-first-chinese-leader-to-visit-north-korea-in-14-years-to-meet-kim-ahead-of-trump-talks-228866">Chinese President Xi Jinping</a> at June's G20 summit after previous talks broke down over the US accusations that China reneged on its commitments.

Washington and Beijing have so far hit each other with punitive tariffs covering more than $360 billion in two-way trade, in a tense stand-off centred on demands for China to curb the alleged theft of American technology and provide a level playing field to US companies.

<a href="https://www.wionews.com/world/us-trade-negotiators-will-travel-to-china-in-very-near-future-official-235396">US Trade Representative Robert Lighthizer </a>and Treasury Secretary Steven Mnuchin arrived in Shanghai on Tuesday, a source close to the talks told AFP.

Vice Premier Liu He will likely lead the talks for China again, with the two sides expected to meet later Tuesday ahead of a full day of talks on Wednesday.

The negotiations come as Beijing faces heavy pressure over ongoing civil unrest in <a href="https://www.wionews.com/world/hong-kong-police-retake-parliament-from-anti-government-protesters-232153">Hong Kong</a>, and with lingering ill-feeling between the US and China.

Days before the Shanghai meeting, Trump threatened to pull recognition of China's developing nation status at the World Trade Organization prompting an irritable reply from Beijing about the "arrogance and selfishness" of the US.

Trump said Friday he believed Chinese negotiators were hoping to delay a deal until after the US presidential election next year, adding: "When I win... they're all going to sign deals."

The US leader has also angered the Chinese side by claiming the slowing economy is forcing them to make a trade deal, and blacklisting telecom giant Huawei over national security concerns.

In a commentary on Tuesday, state news agency Xinhua admitted relations were "strained" and called for the US to "treat China with due respect if it wants a trade deal".

New city

But the kick-starting of trade negotiations are still being seen as positive even if little of substance is expected following a truce agreed between Trump and Chinese President Xi Jinping at the G20 in June.

"Realistically, this round of talks is about clarifying where the two sides stand after a significant lull in engagement," said Jake Parker, senior vice president at the US-China Business Council.&nbsp;

"There also needs to be a focus on rebuilding the trust that was present in April but has since dissipated."

Holding talks in Shanghai is also a nod to a time of better relations, as the city was the home of the 1972 Shanghai Communique -- an important step in building diplomatic relations between the US and China.

Chinese Commerce Minister Zhong Shan, who is seen as a tough negotiator, is expected to join Liu on the Chinese side.

"Minister Zhong Shan, like Liu He, is a 19th Party Congress Central Committee member, so his involvement would indicate an elevation of participation on the Chinese side," said Parker.

"His appointment could offer another senior voice... on the Chinese side."

'Lot of issues'&nbsp;

But both sides were busy lowering expectations in the run-up to talks.&nbsp;

Mnuchin told CNBC last week there were still "a lot of issues" while Chinese state-run daily The Global Times wrote that it is "widely believed that trade talks will take a long time".

There was no sign of the rhetoric letting up either, with the China Daily newspaper's Tuesday editorial saying "the US should give its go-to tactic of maximum pressure a couple of days off as it has proven ineffective against China".

It pointed to an announcement at the weekend that China would buy more US agricultural products including pork, cotton, and soybean as a sign of China's "goodwill" and called for the US to "reciprocate if it wants any progress to be made".

There are likely to be "modest soft-pedalled concessions", said Stephen Innes, managing partner at Vanguard Markets Singapore, such as a pause of further tariff increases on Chinese exports to the US.

"Following another month of escalating tensions, agreement on practically anything will be a positive," said Innes.

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies.

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies. The negotiations in the financial hub will be the first face-to-face discussions since US President Donald Trump agreed to a truce with Chinese President Xi Jinping at June's G20 summit after previous talks broke down over the US accusations that China reneged on its commitments. Washington and Beijing have so far hit each other with punitive tariffs covering more than $360 billion in two-way trade, in a tense stand-off centred on demands for China to curb the alleged theft of American technology and provide a level playing field to US companies. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Shanghai on Tuesday, a source close to the talks told AFP. Vice Premier Liu He will likely lead the talks for China again, with the two sides expected to meet later Tuesday ahead of a full day of talks on Wednesday. The negotiations come as Beijing faces heavy pressure over ongoing civil unrest in Hong Kong, and with lingering ill-feeling between the US and China. Days before the Shanghai meeting, Trump threatened to pull recognition of China's developing nation status at the World Trade Organization prompting an irritable reply from Beijing about the "arrogance and selfishness" of the US. Trump said Friday he believed Chinese negotiators were hoping to delay a deal until after the US presidential election next year, adding: "When I win... they're all going to sign deals." The US leader has also angered the Chinese side by claiming the slowing economy is forcing them to make a trade deal, and blacklisting telecom giant Huawei over national security concerns. In a commentary on Tuesday, state news agency Xinhua admitted relations were "strained" and called for the US to "treat China with due respect if it wants a trade deal". New city But the kick-starting of trade negotiations are still being seen as positive even if little of substance is expected following a truce agreed between Trump and Chinese President Xi Jinping at the G20 in June. "Realistically, this round of talks is about clarifying where the two sides stand after a significant lull in engagement," said Jake Parker, senior vice president at the US-China Business Council. "There also needs to be a focus on rebuilding the trust that was present in April but has since dissipated." Holding talks in Shanghai is also a nod to a time of better relations, as the city was the home of the 1972 Shanghai Communique -- an important step in building diplomatic relations between the US and China. Chinese Commerce Minister Zhong Shan, who is seen as a tough negotiator, is expected to join Liu on the Chinese side. "Minister Zhong Shan, like Liu He, is a 19th Party Congress Central Committee member, so his involvement would indicate an elevation of participation on the Chinese side," said Parker. "His appointment could offer another senior voice... on the Chinese side." 'Lot of issues' But both sides were busy lowering expectations in the run-up to talks. Mnuchin told CNBC last week there were still "a lot of issues" while Chinese state-run daily The Global Times wrote that it is "widely believed that trade talks will take a long time". There was no sign of the rhetoric letting up either, with the China Daily newspaper's Tuesday editorial saying "the US should give its go-to tactic of maximum pressure a couple of days off as it has proven ineffective against China". It pointed to an announcement at the weekend that China would buy more US agricultural products including pork, cotton, and soybean as a sign of China's "goodwill" and called for the US to "reciprocate if it wants any progress to be made". There are likely to be "modest soft-pedalled concessions", said Stephen Innes, managing partner at Vanguard Markets Singapore, such as a pause of further tariff increases on Chinese exports to the US. "Following another month of escalating tensions, agreement on practically anything will be a positive," said Innes.

China-US trade talks to restart after G20 tariff truce

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/asian-shares-drift-into-trade-talks-fed-test-239118&amp;sa=U&amp;ved=2ahUKEwiskeK2ktrjAhVFsY8KHaKRDH0QFjABegQIDBAC&amp;usg=AOvVaw007h4SGYlL7z1dT2b0Kwqf">Federal Reserve</a>&nbsp;signals more cuts will follow.

After opening lower, European shares began to gain. Deal-making and a rally in defensive sectors pushed the pan-European STOXX 600 index up 0.3%.

The dollar index - which measures it against a basket of peers - was higher by 0.1% and at its highest since May 31.

A stronger-than-expected US gross domestic product report on Friday gave the dollar wings, leading some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting.

Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move.

More important will be what the central bank flags for the future, given the market implies 100 basis points of easing over the next year or so.

MSCI's All-Country World Index of stocks, down by as much as 0.2% on the day, erased some losses to trade 0.02% lower. Wall Street futures were flat.

"Central banks are very much the focus of attention for markets at the moment," said Rupert Thompson, head of research at Kingswood.

Investors were also keeping an eye on US-China trade talks. US and Chinese negotiators meet in Shanghai this week for their first in-person talks since a G20 truce last month, but expectations for a breakthrough are low.

Data on the weekend showed profits earned by China's industrial firms contracted in June, fuelling concerns that the trade war will drag on economic growth.

"Both parties know they are running out of time to prevent a sharper slowdown in the global economy. However, given the past experiences, investor sentiment isn’t too high," said Hussein Sayed, chief market strategist at FXTM.

"While resolving their core issues seems far from reach at this stage, especially when it comes to China's subsidies and technology transfers, markets need at least a sign of goodwill to prevent a sharp, volatile reaction..."

In Asia, MSCI's broadest index of Asia-Pacific shares was half a per cent lower. Japan's Nikkei dipped 0.2% and Shanghai blue chips 0.1%.

In bonds, eurozone bond yields dipped as jittery investors eyed the trade talks and waited for the likely Fed rate cut after the European Central Bank's dovish signalling last week disappointed some.

The benchmark German 10-year Bund yield fell more than 1 basis point to -0.3920%, not far from last week's record low of -0.422%.

Elsewhere in currencies, <a href="https://www.wionews.com/world/uk-plays-brexit-hardball-with-stubborn-european-union-pound-falls-to-a-two-year-low-239235">sterling fell</a> over half a per cent to a 28-month low of $1.2301 amid reports the government of Prime Minister Boris Johnson was preparing the ground for a "no-deal" Brexit.

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals more cuts will follow.

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals more cuts will follow. After opening lower, European shares began to gain. Deal-making and a rally in defensive sectors pushed the pan-European STOXX 600 index up 0.3%. The dollar index - which measures it against a basket of peers - was higher by 0.1% and at its highest since May 31. A stronger-than-expected US gross domestic product report on Friday gave the dollar wings, leading some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting. Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move. More important will be what the central bank flags for the future, given the market implies 100 basis points of easing over the next year or so. MSCI's All-Country World Index of stocks, down by as much as 0.2% on the day, erased some losses to trade 0.02% lower. Wall Street futures were flat. "Central banks are very much the focus of attention for markets at the moment," said Rupert Thompson, head of research at Kingswood. Investors were also keeping an eye on US-China trade talks. US and Chinese negotiators meet in Shanghai this week for their first in-person talks since a G20 truce last month, but expectations for a breakthrough are low. Data on the weekend showed profits earned by China's industrial firms contracted in June, fuelling concerns that the trade war will drag on economic growth. "Both parties know they are running out of time to prevent a sharper slowdown in the global economy. However, given the past experiences, investor sentiment isn’t too high," said Hussein Sayed, chief market strategist at FXTM. "While resolving their core issues seems far from reach at this stage, especially when it comes to China's subsidies and technology transfers, markets need at least a sign of goodwill to prevent a sharp, volatile reaction..." In Asia, MSCI's broadest index of Asia-Pacific shares was half a per cent lower. Japan's Nikkei dipped 0.2% and Shanghai blue chips 0.1%. In bonds, eurozone bond yields dipped as jittery investors eyed the trade talks and waited for the likely Fed rate cut after the European Central Bank's dovish signalling last week disappointed some. The benchmark German 10-year Bund yield fell more than 1 basis point to -0.3920%, not far from last week's record low of -0.422%. Elsewhere in currencies, sterling fell over half a per cent to a 28-month low of $1.2301 amid reports the government of Prime Minister Boris Johnson was preparing the ground for a "no-deal" Brexit.

Shares steady as Fed comes into focus; dollar at two-month high

Turkey's defence ministry said the first parts of the <a href="https://www.wionews.com/world/its-a-problem-trump-tells-erdogan-on-russia-s-400-missile-deal-231388">S-400 Russian missile defence</a> systems were delivered to Ankara on Friday.

Turkey's acquisition of the Russian system is a source of tension between Turkey and NATO ally United States.

"The delivery of parts belonging to the system will continue in the coming days," Turkey's defence industry directorate said separately. "Once the system is completely ready, it will begin to be used in a way determined by the relevant authorities," it added.

A Russian Air Force AN-124 cargo plane had flown to Turkey early on Friday morning and was last tracked approaching Ankara, data from Flightradar24 website showed. Turkish broadcasters showed footage of the plane at the Murted Air Base.

Turkey had earlier called on the United States to avoid steps harmful to bilateral relations after the US State Department spokeswoman reiterated Ankara would face "real and negative consequences" for acquiring<a href="https://www.wionews.com/world/russias-s-400-missile-delivery-to-turkey-will-have-consequences-us-230313"> Russian S-400 defence systems</a>.

Turkey's foreign ministry spokesman had said the comments by the State Department's Morgan Ortagus were not in line with the spirit and content of talks between presidents of the two countries at the G20 summit last month.

President Tayyip Erdogan said after meeting President Donald Trump in Osaka that the United States did not plan to impose sanctions on Ankara for buying the S-400s, which he said would arrive in the first half of July. Trump said Turkey had not been treated fairly but did not rule out sanctions.

The United States says the S-400s are not compatible with NATO's defence network and could compromise its Lockheed Martin F-35 stealth fighter jets, an aircraft Turkey is helping to build and planning to buy.

Turkey could face expulsion from the F-35 programme and other US&nbsp;sanctions if it goes ahead with the S-400 delivery. Washington has already halted training of Turkish pilots in the United States on the aircraft.

Turkey's defence ministry said the first parts of the S-400 Russian missile defence systems were delivered to Ankara on Friday. Turkey's acquisition of the Russian system is a source of tension between Turkey and NATO ally United States.

Turkey's defence ministry said the first parts of the S-400 Russian missile defence systems were delivered to Ankara on Friday. Turkey's acquisition of the Russian system is a source of tension between Turkey and NATO ally United States. "The delivery of parts belonging to the system will continue in the coming days," Turkey's defence industry directorate said separately. "Once the system is completely ready, it will begin to be used in a way determined by the relevant authorities," it added. A Russian Air Force AN-124 cargo plane had flown to Turkey early on Friday morning and was last tracked approaching Ankara, data from Flightradar24 website showed. Turkish broadcasters showed footage of the plane at the Murted Air Base. Turkey had earlier called on the United States to avoid steps harmful to bilateral relations after the US State Department spokeswoman reiterated Ankara would face "real and negative consequences" for acquiring Russian S-400 defence systems. Turkey's foreign ministry spokesman had said the comments by the State Department's Morgan Ortagus were not in line with the spirit and content of talks between presidents of the two countries at the G20 summit last month. President Tayyip Erdogan said after meeting President Donald Trump in Osaka that the United States did not plan to impose sanctions on Ankara for buying the S-400s, which he said would arrive in the first half of July. Trump said Turkey had not been treated fairly but did not rule out sanctions. The United States says the S-400s are not compatible with NATO's defence network and could compromise its Lockheed Martin F-35 stealth fighter jets, an aircraft Turkey is helping to build and planning to buy. Turkey could face expulsion from the F-35 programme and other US sanctions if it goes ahead with the S-400 delivery. Washington has already halted training of Turkish pilots in the United States on the aircraft.

First part of Russian S-400 missile defence system delivered: Turkey

Rebalancing is the new mantra of statecraft and reset is the new form of global rapprochement. 
 
Therefore, Prime Minister Narendra Modi pitched for as many as 20 meetings, including nine bilaterals and eight pull-aside engagements, with his global counterparts. On the sidelines of the G20 summit at Osaka, Japan, were varied groupings: Russia-India-China, Japan-US-India and Brazil-Russia-India-China-South Africa. It offered, once again, good optics for the creation of a multilateral system of partnerships with various countries and international organisations.

All great powers realise that the era of super-power domination is over, and with the emergence of new power centres like China, India and Japan, new rules of the game and new terms of engagement need to be chalked out. Forums like G20 are critical for constructing a multi-polar and democratic order, which would guarantee each country — large or small — peace, security, justice and development in order to address challenges like climate change, corruption, pollution, terrorism, technology sharing and data flow management, among others.

In the wake of the financial woes of the West and its increasingly protectionist tendencies of late — Brexit in the UK and the triumphalism of Donald Trump — one can notice a common trend that arises out of part distrust and part national interest. No more prominent example of global rebalancing may be cited than China’s Belt and Road Initiative (BRI) against the backdrop of the US’s ‘Pivot to Asia’ that Beijing intuitively believes to be especially devised to contain its rise.

How is the rebalancing working out? US allies in Asia, connected to and militarily aligned with the pivot, are absolutely okay with engaging economically with China, a phenomenon that seeks to strike a balance between the regional and global geo-economic and geostrategic priorities. The hegemonic struggle between the US and China to stake control over Asia and the world notwithstanding, nations are trying hard to hold on to their values and diplomats are honing their skills on economic statecraft.

Is rebalancing, then, the other name of strategic promiscuity? In a way, it is. Because being close to another country does not necessarily mean hostilities against a third country. Rebalancing, therefore, is more akin to focusing on areas of respective and mutual convergence. That’s where it syncs with national interest. While the reasons for US foreign policy to focus on Brazil, India, Indonesia and Turkey is ascribed to their fluid and open approach to the international order than those of China or Russia, the real factor could be to reduce China’s global clout by fostering partnerships with existing and rising great powers.

Russia, in turn, has been trying to counterbalance the USA’s global leadership by cooperating with China on issues relating to state sovereignty, strengthening the UN Security Council, and pitching for a multi-polar world order wherein no single state assumes a paramount position vis-à-vis the others in world affairs. Despite paeans sung on the merits of multilateralism, it is natural that a leader in power would pursue policy based on his/her perception of national interest. 
 
Napoleon justified his campaign against Russia, and later his act to launch the desperate battle at Waterloo, on the plea that he was acting in the interest of France; Hitler was said to be acting in Germany’s national interest on grounds of which he justified his expansionist policies, including annexation of Austria and the breakup of Czechoslovakia (1938). British Prime Minister Neville Chamberlain justified his act of currying favour with Hitler and Mussolini on the pretext that such appeasement was in Britain’s national interest. Prime Minister Narendra Modi recently justified demonetisation as a move taken in “national interest” and not for “political gains”, arguing that it was a step to fight black money.

It is par for the course, then, that during a recent extensive bilateral meeting in New Delhi, India’s external affairs minister S Jaishankar reconfirmed to his American counterpart, Mike Pompeo, about the Indian imperative to act in its national interest and nurture the time-tested, history-honoured relationships with many countries, including Russia and Iran. India is also engaging more actively with Japan, while taking care not to antagonise China, which is another deft exercise of rebalancing. 
 
(This article was originally published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-rebalancing-is-trademark-in-a-multi-polar-diplomatic-world-2770634">original article)</a>

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp; 
&nbsp;

Rebalancing is the new mantra of statecraft and reset is the new form of global rapprochement. Therefore, Prime Minister Narendra Modi pitched for as many as 20 meetings, including nine bilaterals and eight pull-aside engagements, with his global counterparts.

Rebalancing is the new mantra of statecraft and reset is the new form of global rapprochement. Therefore, Prime Minister Narendra Modi pitched for as many as 20 meetings, including nine bilaterals and eight pull-aside engagements, with his global counterparts. On the sidelines of the G20 summit at Osaka, Japan, were varied groupings: Russia-India-China, Japan-US-India and Brazil-Russia-India-China-South Africa. It offered, once again, good optics for the creation of a multilateral system of partnerships with various countries and international organisations. All great powers realise that the era of super-power domination is over, and with the emergence of new power centres like China, India and Japan, new rules of the game and new terms of engagement need to be chalked out. Forums like G20 are critical for constructing a multi-polar and democratic order, which would guarantee each country — large or small — peace, security, justice and development in order to address challenges like climate change, corruption, pollution, terrorism, technology sharing and data flow management, among others. In the wake of the financial woes of the West and its increasingly protectionist tendencies of late — Brexit in the UK and the triumphalism of Donald Trump — one can notice a common trend that arises out of part distrust and part national interest. No more prominent example of global rebalancing may be cited than China’s Belt and Road Initiative (BRI) against the backdrop of the US’s ‘Pivot to Asia’ that Beijing intuitively believes to be especially devised to contain its rise. How is the rebalancing working out? US allies in Asia, connected to and militarily aligned with the pivot, are absolutely okay with engaging economically with China, a phenomenon that seeks to strike a balance between the regional and global geo-economic and geostrategic priorities. The hegemonic struggle between the US and China to stake control over Asia and the world notwithstanding, nations are trying hard to hold on to their values and diplomats are honing their skills on economic statecraft. Is rebalancing, then, the other name of strategic promiscuity? In a way, it is. Because being close to another country does not necessarily mean hostilities against a third country. Rebalancing, therefore, is more akin to focusing on areas of respective and mutual convergence. That’s where it syncs with national interest. While the reasons for US foreign policy to focus on Brazil, India, Indonesia and Turkey is ascribed to their fluid and open approach to the international order than those of China or Russia, the real factor could be to reduce China’s global clout by fostering partnerships with existing and rising great powers. Russia, in turn, has been trying to counterbalance the USA’s global leadership by cooperating with China on issues relating to state sovereignty, strengthening the UN Security Council, and pitching for a multi-polar world order wherein no single state assumes a paramount position vis-à-vis the others in world affairs. Despite paeans sung on the merits of multilateralism, it is natural that a leader in power would pursue policy based on his/her perception of national interest. Napoleon justified his campaign against Russia, and later his act to launch the desperate battle at Waterloo, on the plea that he was acting in the interest of France; Hitler was said to be acting in Germany’s national interest on grounds of which he justified his expansionist policies, including annexation of Austria and the breakup of Czechoslovakia (1938). British Prime Minister Neville Chamberlain justified his act of currying favour with Hitler and Mussolini on the pretext that such appeasement was in Britain’s national interest. Prime Minister Narendra Modi recently justified demonetisation as a move taken in “national interest” and not for “political gains”, arguing that it was a step to fight black money. It is par for the course, then, that during a recent extensive bilateral meeting in New Delhi, India’s external affairs minister S Jaishankar reconfirmed to his American counterpart, Mike Pompeo, about the Indian imperative to act in its national interest and nurture the time-tested, history-honoured relationships with many countries, including Russia and Iran. India is also engaging more actively with Japan, while taking care not to antagonise China, which is another deft exercise of rebalancing. (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Rebalancing is trademark in a multi-polar diplomatic world

Nepotism, according to the Oxford dictionary is this - Giving unfair advantage to your own family if you are in a position of power. At the G-20 summit, U.S. President Trump's family embodied the definition. Ivanka Trump even indulged in some small talk with Theresa May, in a conversation that she wasn't even part of, in the first place. This has sparked a debate back home in the U.S

Gravitas: Small talk, big controversy: Ivanka Trump's day out at G20

India focussed on trade, terror & black money at the G20 summit. New Delhi also raised key issues like 5G & Iran crisis with Trump. Here's Palki summing up the issues raised by India at the summit.

Gravitas: G20 Summit: Takeaways for India

More happens on the sidelines of a summit like G20 than the actual summit itself. This 14th G20 summit hasn't disappointed either, from Trump's request to Putin to not interfere in U.S. polls to Putin's statement on Salisbury attacks, Palki brings the best statements from the sidelines of the G20 summit.

Gravitas: G20: All the action on the sidelines

From feeding fish to trying out rickshaw rides in Japan to attending cultural programmes, the spouses of leaders at the G20 summit had a day out at Osaka and Kyoto. Here's a report.

Gravitas: G20: A day out for the spouses

20 members, 19 countries plus the European Union, the G20 summit represents two-thirds of the total population of the world. Palki gets a quick summary of the summit and its significance.

Gravitas: G20 Summit kicks of in Japan: Here's why it matters

Bilaterals, trilaterals, pull-asides, informal multi-lateral talks, PM Modi had a jampacked day at the G20 summit at Osaka in Japan today. The increased engagement exemplifies the importance of India at the global stage. Palki summarises.

Gravitas: G20 Summit: India rises on the global stage

Warning that there are growing risks to the global economy, leaders of the group of<a href="https://www.wionews.com/world/g20-stops-short-of-denouncing-protectionism-warns-of-global-slowdown-231451"> 20 major economies</a> on Saturday called for a free and stable trade environment and reform of the World Trade Organisation (WTO).

The G20 bloc said it will play a lead role in the global efforts to prevent fight against corruption by denying safe haven to persons sought for corruption and "work more closely" on asset recovery cooperation.

The group also agreed to apply the recently amended <a href="https://www.wionews.com/india-news/absolute-possibility-pakistan-could-blacklisted-fatf-president-billingslea-230015">Financial Action Task Force (FATF) </a>Standards to virtual assets and related providers for anti-money laundering and countering the financing of terrorism.

G20 Summit Day 2: PM Modi meets Widodo, Bolsonaro

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"...growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks and stand ready to take further action," the G20 leaders said in a declaration at the end of a two-day summit held here.

The group decided to step up "dialogue and actions to enhance confidence" and use all policy tools to achieve strong and inclusive growth and safeguard against downward risks.

In order to foster global economic growth, the group said, "We strive to realize a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open".

Emphasising the need to improve the functioning of the WTO, the G20 members decided to work constructively with other trade body members in the run-up to the 12th WTO Ministerial Conference.

"We agree that action is necessary regarding the functioning of the dispute settlement system consistent with the rules as negotiated by WTO members. Furthermore, we recognize the complementary roles of bilateral and regional free trade agreements that are WTO-consistent. We will work to ensure a level playing field to foster an enabling business environment," the declaration said.

To enhance cooperation, the G20 members called for carefully calibrated macroeconomic and structural policies "tailored to country-specific circumstances" to address excessive current account imbalances and mitigate the risks to achieving the G20 goal of strong and inclusive growth.

Stating that cross-border flow of data and information was raising challenges of privacy, security and intellectual property rights, the G20 stressed on continuing addressing these issues besides respecting the legal frameworks, both domestic and international.

The group decided to work on advancing elements to develop infrastructure as an asset class, including by exploring possible indicators on quality infrastructure investment, the declaration said.

Calling on the International Monetary Fund to expedite its work on its resources and governance reform on a priority basis, the G20 urged the IMF and World Bank Group to continue their efforts to strengthen borrowers' capacity in the area of debt recording, monitoring and reporting among others under their multi-pronged approach.

The group further said that it will redouble its efforts for a consensus-based solution on tax challenges arising from digitalisation with a report by 2020.

"We call on all jurisdictions to sign and ratify the multilateral convention on mutual administrative assistance in tax matters. We reiterate our support for tax capacity building in developing countries," the declaration said.

Stating that crypto-assets do not pose a threat to global financial stability at this point, the members said, however, "we are closely monitoring developments and remain vigilant to existing and emerging risks".

To tackle corruption, the group said it is committed to implement the G20 Anti-Corruption Action Plan 2019-2021 and intensify efforts to combat foreign bribery and ensure that each member in the bloc has a national law in force for criminalising foreign bribery as soon as possible.

Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Mexico, Republic of Korea, South Africa, Russia, Saudi Arabia, Turkey, the UK, the US, Chile, Egypt, Estonia, Netherlands, Nigeria, Senegal, Singapore, Spain and Vietnam are members of the G20 bloc. WTO, World Bank and other seven global bodies are also part of it.

Warning that there are growing risks to the global economy, leaders of the group of 20 major economies on Saturday called for a free and stable trade environment and reform of the World Trade Organisation (WTO).

Warning that there are growing risks to the global economy, leaders of the group of 20 major economies on Saturday called for a free and stable trade environment and reform of the World Trade Organisation (WTO). The G20 bloc said it will play a lead role in the global efforts to prevent fight against corruption by denying safe haven to persons sought for corruption and "work more closely" on asset recovery cooperation. The group also agreed to apply the recently amended Financial Action Task Force (FATF) Standards to virtual assets and related providers for anti-money laundering and countering the financing of terrorism. G20 Summit Day 2: PM Modi meets Widodo, Bolsonaro "...growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks and stand ready to take further action," the G20 leaders said in a declaration at the end of a two-day summit held here. The group decided to step up "dialogue and actions to enhance confidence" and use all policy tools to achieve strong and inclusive growth and safeguard against downward risks. In order to foster global economic growth, the group said, "We strive to realize a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open". Emphasising the need to improve the functioning of the WTO, the G20 members decided to work constructively with other trade body members in the run-up to the 12th WTO Ministerial Conference. "We agree that action is necessary regarding the functioning of the dispute settlement system consistent with the rules as negotiated by WTO members. Furthermore, we recognize the complementary roles of bilateral and regional free trade agreements that are WTO-consistent. We will work to ensure a level playing field to foster an enabling business environment," the declaration said. To enhance cooperation, the G20 members called for carefully calibrated macroeconomic and structural policies "tailored to country-specific circumstances" to address excessive current account imbalances and mitigate the risks to achieving the G20 goal of strong and inclusive growth. Stating that cross-border flow of data and information was raising challenges of privacy, security and intellectual property rights, the G20 stressed on continuing addressing these issues besides respecting the legal frameworks, both domestic and international. The group decided to work on advancing elements to develop infrastructure as an asset class, including by exploring possible indicators on quality infrastructure investment, the declaration said. Calling on the International Monetary Fund to expedite its work on its resources and governance reform on a priority basis, the G20 urged the IMF and World Bank Group to continue their efforts to strengthen borrowers' capacity in the area of debt recording, monitoring and reporting among others under their multi-pronged approach. The group further said that it will redouble its efforts for a consensus-based solution on tax challenges arising from digitalisation with a report by 2020. "We call on all jurisdictions to sign and ratify the multilateral convention on mutual administrative assistance in tax matters. We reiterate our support for tax capacity building in developing countries," the declaration said. Stating that crypto-assets do not pose a threat to global financial stability at this point, the members said, however, "we are closely monitoring developments and remain vigilant to existing and emerging risks". To tackle corruption, the group said it is committed to implement the G20 Anti-Corruption Action Plan 2019-2021 and intensify efforts to combat foreign bribery and ensure that each member in the bloc has a national law in force for criminalising foreign bribery as soon as possible. Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Mexico, Republic of Korea, South Africa, Russia, Saudi Arabia, Turkey, the UK, the US, Chile, Egypt, Estonia, Netherlands, Nigeria, Senegal, Singapore, Spain and Vietnam are members of the G20 bloc. WTO, World Bank and other seven global bodies are also part of it.

G20 calls for free, stable trade environment; warns of slowing global economy

Wall Street advanced in heavy trading on Friday, with the S&amp;P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between US President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan.

All three major US stock indexes gained ground at the close of the week, month, quarter and first half of the year, during which time the US stock market has had a remarkable run.

The S&amp;P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression.

From the start of 2019, after investors fled equities amid fears of a global economic slowdown, which sent stock markets tumbling in December, the benchmark S&amp;P 500 jumped 17.3%, its largest first-half increase since 1997.

"The market came to the realization that the world is not going to end," said John Ham, financial adviser at New England Investment and Retirement Group in North Andover, Massachusetts. "Also, (Federal Reserve chair) Powell did a 180 since (the Fed`s) last (interest) rate hike, which has put wind in our sails in the first half of the year."

Trump expressed hopes that his meeting with Xi at the G20 summit will be productive, but said he had not made any promises about a reprieve from escalating tariffs.

"Everybody is focused on the Trump/Xi meeting, and most investors are hoping for a ceasefire," Ham added. "At this point it`s just a question of how much of a ceasefire we get."&nbsp;

"They`re two strong leaders who want to save face. They both want to walk away from it claiming victory."&nbsp;

Financial stocks led the gains in the S&amp;P 500 and the Dow after the big US&nbsp;banks passed the Federal Reserve`s "stress test," with the central bank giving the companies a clean bill of health. The S&amp;P 500 Bank index gained 2.4%.

Trading volume spiked amid the annual restructuring of the Russell indexes, traditionally one of the largest trading days of the year.

The Dow Jones Industrial Average rose 73.38 points, or 0.28%, to 26,599.96, the S&amp;P 500 gained 16.84 points, or 0.58%, to 2,941.76 and the Nasdaq Composite added 38.49 points, or 0.48%, to 8,006.24.

All 11 major sectors in the S&amp;P 500 ended the session in positive territory.

Financials, energy and tariff-vulnerable industrials were the biggest percentage gainers.

Shares of Apple Inc dropped 0.9% following its announcement that design head Jony Ive is leaving the company. Separately, the Wall Street Journal reported that the iPhone maker would move its Mac Pro production to China from the United States.

Constellation Brands Inc reported better-than-expected quarterly results and raised its full-year guidance due to healthy beer demand, sending its shares up 4.6%.

In economic news, consumer spending rose moderately in May and prices edged higher, implying a slowdown in economic growth and benign inflation pressures, providing the Fed rationales for a possible interest rate cut in July.

Advancing issues outnumbered declining ones on the NYSE by a 2.84-to-1 ratio; on Nasdaq, a 2.66-to-1 ratio favoured advancers.

The S&amp;P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 84 new highs and 51 new lows.&nbsp;

Volume on U.S. exchanges was 10.26 billion shares, compared with the 7.11 billion-share average for the full session over the last 20 trading days. &nbsp;&nbsp;

Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between US President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan.

Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between US President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan. All three major US stock indexes gained ground at the close of the week, month, quarter and first half of the year, during which time the US stock market has had a remarkable run. The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression. From the start of 2019, after investors fled equities amid fears of a global economic slowdown, which sent stock markets tumbling in December, the benchmark S&P 500 jumped 17.3%, its largest first-half increase since 1997. "The market came to the realization that the world is not going to end," said John Ham, financial adviser at New England Investment and Retirement Group in North Andover, Massachusetts. "Also, (Federal Reserve chair) Powell did a 180 since (the Fed`s) last (interest) rate hike, which has put wind in our sails in the first half of the year." Trump expressed hopes that his meeting with Xi at the G20 summit will be productive, but said he had not made any promises about a reprieve from escalating tariffs. "Everybody is focused on the Trump/Xi meeting, and most investors are hoping for a ceasefire," Ham added. "At this point it`s just a question of how much of a ceasefire we get." "They`re two strong leaders who want to save face. They both want to walk away from it claiming victory." Financial stocks led the gains in the S&P 500 and the Dow after the big US banks passed the Federal Reserve`s "stress test," with the central bank giving the companies a clean bill of health. The S&P 500 Bank index gained 2.4%. Trading volume spiked amid the annual restructuring of the Russell indexes, traditionally one of the largest trading days of the year. The Dow Jones Industrial Average rose 73.38 points, or 0.28%, to 26,599.96, the S&P 500 gained 16.84 points, or 0.58%, to 2,941.76 and the Nasdaq Composite added 38.49 points, or 0.48%, to 8,006.24. All 11 major sectors in the S&P 500 ended the session in positive territory. Financials, energy and tariff-vulnerable industrials were the biggest percentage gainers. Shares of Apple Inc dropped 0.9% following its announcement that design head Jony Ive is leaving the company. Separately, the Wall Street Journal reported that the iPhone maker would move its Mac Pro production to China from the United States. Constellation Brands Inc reported better-than-expected quarterly results and raised its full-year guidance due to healthy beer demand, sending its shares up 4.6%. In economic news, consumer spending rose moderately in May and prices edged higher, implying a slowdown in economic growth and benign inflation pressures, providing the Fed rationales for a possible interest rate cut in July. Advancing issues outnumbered declining ones on the NYSE by a 2.84-to-1 ratio; on Nasdaq, a 2.66-to-1 ratio favoured advancers. The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 84 new highs and 51 new lows. Volume on U.S. exchanges was 10.26 billion shares, compared with the 7.11 billion-share average for the full session over the last 20 trading days.

Wall Street wraps up its best June in decades as G20 convenes

US President Donald Trump said on Saturday he would <a href="https://www.wionews.com/world/trump-says-may-talk-with-kim-jong-un-without-meeting-230718">like to meet with North Korean leader Kim Jong Un</a> this weekend at the demilitarised zone (DMZ) on the border of North and South Korea.

Trump, who is in Osaka, Japan, for the Group of 20 summit, is due to arrive in South Korea later on Saturday. He is scheduled to leave the country on Sunday and return to Washington.

"While there, if Chairman Kim of North Korea sees this, I would meet him at the Border/DMZ just to shake his hand and say Hello(?)!" Trump said on Twitter.

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<blockquote class="twitter-tweet" data-lang="en">
After some very important meetings, including my meeting with President Xi of China, I will be leaving Japan for South Korea (with President Moon). While there, if Chairman Kim of North Korea sees this, I would meet him at the Border/DMZ just to shake his hand and say Hello(?)!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1144740178948493314?ref_src=twsrc%5Etfw">June 28, 2019</a></blockquote>
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Trump told reporters on Saturday, "We'll be there and I just put out a feeler because I don't know where he is right now. He may not be in North Korea."

"If he's there, we'll see each other for two minutes, that's all we can, but that will be fine," he added. Trump said he and Kim "get along very well."

US special envoy Stephen Biegun said on Friday the United States was ready to hold constructive talks with North Korea to follow through on a denuclearization agreement reached by the two countries last year, South Korea's foreign ministry said.

Biegun told his South Korean counterpart, Lee Do-hoon, that Washington wanted to make "simultaneous, parallel" progress on the agreement reached at a summit between Trump and Kim in Singapore last year, the ministry said in a statement.

Both sides agreed to establish new relations and work towards denuclearisation of the Korean Peninsula.

But negotiations have stalled since a second summit in Vietnam in February collapsed as the two sides failed to narrow differences between US calls for denuclearization and North Korean demands for sanctions relief.

Russian President Vladimir Putin told South Korean President Moon Jae-in at a meeting on the sidelines of the G20 summit that Kim had told him in April security guarantees were key, and that corresponding measures were needed to realise denuclearisation, according to South Korea's presidential office on Saturday.

North Korea's nominal head of state Choe Ryong Hae said in a speech praising Kim's achievements on Friday that Kim Jong Un's "strategic decision and proactive external activities" brought about "the great June 12 event," or the Singapore summit with Trump, and "re-establish(ed) the relations between the DPRK and big powers," North Korea's state media KCNA on Saturday.

The Democratic People's Republic of Korea (DPRK) is North Korea's official name.

"The DPRK government will... work hard to develop the ties of friendship and cooperation with all the countries that respect the DPRK's sovereignty and are friendly to it," Choe said, according to KCNA.

Trump said before departing for the G20 Osaka Summit that he did not expect to meet with Kim during his trip.

US&nbsp;Secretary of State Mike Pompeo said this week that a recent exchange of letters between Trump and Kim boosted hopes for a restart of talks, calling it a "very real possibility."

Trump told reporters on Saturday Kim had sent him a birthday card and Trump sent him a letter in return.

North Korea's official KCNA news agency said Trump's letter had "excellent content" and Kim would "seriously contemplate" it, without elaborating.

Trump has previously said publicly he had received a very warm "beautiful letter" from Kim. He has not divulged its contents, but the White House official, who did not want to be identified, described the letter as "very flowery."

"President Trump made his pitch for a short summit with Chairman Kim on Twitter as White House officials most likely have tried -- and failed -- to set up such a meeting through official diplomatic or South Korean channels," Harry J Kazianis of the Center for the National Interest said.

If the meeting happens, "while no major agreements will be signed, both sides can reaffirm their commitment to dialogue and diplomacy, essentially resetting the table for a future deal in the weeks and months to come," Kazianis added.

US President Donald Trump said on Saturday he would like to meet with North Korean leader Kim Jong Un this weekend at the demilitarised zone (DMZ) on the border of North and South Korea.

US President Donald Trump said on Saturday he would like to meet with North Korean leader Kim Jong Un this weekend at the demilitarised zone (DMZ) on the border of North and South Korea. Trump, who is in Osaka, Japan, for the Group of 20 summit, is due to arrive in South Korea later on Saturday. He is scheduled to leave the country on Sunday and return to Washington. "While there, if Chairman Kim of North Korea sees this, I would meet him at the Border/DMZ just to shake his hand and say Hello(?)!" Trump said on Twitter. After some very important meetings, including my meeting with President Xi of China, I will be leaving Japan for South Korea (with President Moon). While there, if Chairman Kim of North Korea sees this, I would meet him at the Border/DMZ just to shake his hand and say Hello(?)! — Donald J. Trump (@realDonaldTrump) June 28, 2019 × Trump told reporters on Saturday, "We'll be there and I just put out a feeler because I don't know where he is right now. He may not be in North Korea." "If he's there, we'll see each other for two minutes, that's all we can, but that will be fine," he added. Trump said he and Kim "get along very well." US special envoy Stephen Biegun said on Friday the United States was ready to hold constructive talks with North Korea to follow through on a denuclearization agreement reached by the two countries last year, South Korea's foreign ministry said. Biegun told his South Korean counterpart, Lee Do-hoon, that Washington wanted to make "simultaneous, parallel" progress on the agreement reached at a summit between Trump and Kim in Singapore last year, the ministry said in a statement. Both sides agreed to establish new relations and work towards denuclearisation of the Korean Peninsula. But negotiations have stalled since a second summit in Vietnam in February collapsed as the two sides failed to narrow differences between US calls for denuclearization and North Korean demands for sanctions relief. Russian President Vladimir Putin told South Korean President Moon Jae-in at a meeting on the sidelines of the G20 summit that Kim had told him in April security guarantees were key, and that corresponding measures were needed to realise denuclearisation, according to South Korea's presidential office on Saturday. North Korea's nominal head of state Choe Ryong Hae said in a speech praising Kim's achievements on Friday that Kim Jong Un's "strategic decision and proactive external activities" brought about "the great June 12 event," or the Singapore summit with Trump, and "re-establish(ed) the relations between the DPRK and big powers," North Korea's state media KCNA on Saturday. The Democratic People's Republic of Korea (DPRK) is North Korea's official name. "The DPRK government will... work hard to develop the ties of friendship and cooperation with all the countries that respect the DPRK's sovereignty and are friendly to it," Choe said, according to KCNA. Trump said before departing for the G20 Osaka Summit that he did not expect to meet with Kim during his trip. US Secretary of State Mike Pompeo said this week that a recent exchange of letters between Trump and Kim boosted hopes for a restart of talks, calling it a "very real possibility." Trump told reporters on Saturday Kim had sent him a birthday card and Trump sent him a letter in return. North Korea's official KCNA news agency said Trump's letter had "excellent content" and Kim would "seriously contemplate" it, without elaborating. Trump has previously said publicly he had received a very warm "beautiful letter" from Kim. He has not divulged its contents, but the White House official, who did not want to be identified, described the letter as "very flowery." "President Trump made his pitch for a short summit with Chairman Kim on Twitter as White House officials most likely have tried -- and failed -- to set up such a meeting through official diplomatic or South Korean channels," Harry J Kazianis of the Center for the National Interest said. If the meeting happens, "while no major agreements will be signed, both sides can reaffirm their commitment to dialogue and diplomacy, essentially resetting the table for a future deal in the weeks and months to come," Kazianis added.

'I would meet Kim at demilitarised zone to shake hand, say hello', tweets Trump

<a href="https://www.wionews.com/world/putin-says-russia-will-do-all-it-can-to-improve-ties-with-us-231474">Moscow will do all it can to improve ties with US, says Russian President Vladimir Putin</a>

Russia's president&nbsp;said on Saturday that Moscow would do all it could to improve relations with the United States that have been strained by years of diplomatic conflicts over Ukraine and accusations of Russian meddling in US elections.

<a href="https://www.wionews.com/india-news/mass-resignations-of-congress-leaders-part-of-scripted-drama-bjps-tom-vadakkan-231500">Mass resignations of Congress leaders part of 'scripted drama': BJP's Tom Vadakkan</a>

BJP member Tom Vadakkan on Saturday claimed the&nbsp;recent mass resignations in the Congress&nbsp;as a "scripted drama", following Rahul Gandhi's refusal to withdraw his resignation as the party president.

<a href="https://www.wionews.com/south-asia/taliban-kill-26-pro-government-militia-members-in-afghanistan-231459">Taliban kill 26 pro-government militia members in Afghanistan</a>

Taliban militants killed at least 26 members of a pro-government militia in north Afghanistan on Saturday, government officials said, the same day the militants and US government officials are due to start a new round of peace talks in Qatar.

<a href="https://www.wionews.com/world/erdogan-says-no-setback-in-missile-deal-with-russia-as-trump-voices-sympathy-231492">Erdogan says no setback in missile deal with Russia as Trump voices sympathy</a>

Turkey said on Saturday there was no setback in its plan to buy&nbsp;Russian S-400 missile defence systems, despite US opposition, and President Donald Trump expressed understanding for the decision but did not rule out sanctions in response.

<a href="https://www.wionews.com/world/trump-administration-declares-emergency-in-violence-plagued-rural-alaska-231512">Trump administration declares emergency in violence-plagued rural Alaska</a>

US Attorney General William Barr on Friday declared a public-safety emergency in rural Alaska and pledged $10.5 million in federal funds to combat some of the nation`s worst rates of sexual assault, child abuse and other violent crimes.

Moscow will do all it can to improve ties with US, says Russian President Vladimir Putin Russia's president said on Saturday that Moscow would do all it could to improve relations with the United States that have been strained by years of diplomatic conflicts over Ukraine and accusations of Russian meddling in US elections.

Moscow will do all it can to improve ties with US, says Russian President Vladimir Putin Russia's president said on Saturday that Moscow would do all it could to improve relations with the United States that have been strained by years of diplomatic conflicts over Ukraine and accusations of Russian meddling in US elections. Mass resignations of Congress leaders part of 'scripted drama': BJP's Tom Vadakkan BJP member Tom Vadakkan on Saturday claimed the recent mass resignations in the Congress as a "scripted drama", following Rahul Gandhi's refusal to withdraw his resignation as the party president. Taliban kill 26 pro-government militia members in Afghanistan Taliban militants killed at least 26 members of a pro-government militia in north Afghanistan on Saturday, government officials said, the same day the militants and US government officials are due to start a new round of peace talks in Qatar. Erdogan says no setback in missile deal with Russia as Trump voices sympathy Turkey said on Saturday there was no setback in its plan to buy Russian S-400 missile defence systems, despite US opposition, and President Donald Trump expressed understanding for the decision but did not rule out sanctions in response. Trump administration declares emergency in violence-plagued rural Alaska US Attorney General William Barr on Friday declared a public-safety emergency in rural Alaska and pledged $10.5 million in federal funds to combat some of the nation`s worst rates of sexual assault, child abuse and other violent crimes.

News brief: Big stories of the day

Indian Prime Minister Narendra Modi met the presidents of Indonesia and Brazil separately on the sidelines of the G-20 Summit on Saturday and discussed ways to enhance cooperation in trade and investment. Watch this video to know more.

G20 Summit Day 2: PM Modi meets Widodo, Bolsonaro

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