Economic
WTO chief expects downside revisions in global trade forecast
The head of the World Trade Organization told Reuters on Sept 27 that she expects that global trade forecasts will be revised lower from the current 3 per cent for 2022, citing the ongoing Russia-Ukraine war and related food and energy crises. “We are in the middle of revising our forecasts now but it’s not looking very promising. All the indicators are pointing to downside numbers,” Director-General Ngozi Okonjo-Iweala told Reuters in an interview. “Grosso modo the outlook is looking gloomy,” she said, without giving exact estimates. The WTO already revised down its forecast for global trade growth this year to 3 per cent from 4.7 per cent in April. It projected 3.4 per cent growth in 2023. Click here to read…
China’s GDP growth to lag behind rest of developing East Asia as zero-Covid, property crisis bite, World Bank says
The World Bank has slashed China’s 2022 growth forecast, highlighting damage from its zero-Covid policy and property market slump, while the rest of developing East Asia and the Pacific is poised to stage an economic rebound. The Washington-based organisation cut its gross domestic product (GDP) growth forecast for the world’s second largest economy to 2.8 per cent, down from an April estimate of 5.0 per cent. “Amid multiple domestic and external headwinds, China’s GDP growth is expected to slow sharply,” the World Bank said in its October economic update for the region, which was released on Sept 27. “Tight mobility restrictions in response to Omicron outbreaks have weighed on growth while persistent stress in the real estate sector has exacerbated downward pressure on economic activity.” In contrast, the World Bank revised upwards its 2022 expectations for the rest of developing East Asia and Pacific region from 4.8 per cent to 5.3 per cent, thanks to a rebound in domestic demand and exports as countries relax their Covid-19 restrictions. Vietnam’s economy, which saw the second largest upward revision in East Asia, is expected to grow 7.2 per cent this year, up from the 5.3 per cent forecast in April. Malaysia has had its growth estimate pushed up to 6.4 per cent from 5.5 per cent. Click here to read…
China’s yuan slides to 14-year low after U.S. rate hikes
China’s yuan fell to a 14-year low against the dollar Sept 28 despite central bank efforts to stem the slide after U.S. interest rate hikes prompted traders to convert money into dollars in search of higher returns. A weaker yuan helps Chinese exporters by making their goods cheaper abroad, but it encourages capital to flow out of the economy. That raises costs for Chinese borrowers and sets back the ruling Communist Party’s efforts to boost weak economic growth. The yuan fell to 7.2301 to the dollar, its lowest level since January 2008. One yuan was worth about 13.8 cents, down 15 percent from its March high. The yuan has exceeded expectations it might fall to 7 to the dollar after the Federal Reserve started aggressive rate hikes to cool inflation that is at a four-decade high. The Fed has raised rates five times this year and says more increases are likely. By contrast, the People’s Bank of China has cut interest rates to boost growth that fell to 2.2 percent over a year earlier in the first six months of 2022–less than half the official 5.5 percent target. The yuan is allowed to fluctuate up or down 2 percent from its starting price each day in tightly controlled trading. That prevents big daily swings, but down days can add up to a big change over time. Click here to read…
Bank of England intervenes in market to halt economic crisis
The Bank of England took emergency action Sept 28 to stabilise UK financial markets and head off a crisis in the broader economy after the government spooked investors with a programme of unfunded tax cuts, sending the pound tumbling and the cost of government debt soaring. The central bank warned that crumbling confidence in the economy posed a “material risk to UK financial stability”, while the International Monetary Fund took the rare step to urge a member of the Group of Seven advanced economies to abandon its plan to cut taxes and increase borrowing to cover the cost. “Given elevated inflation pressures in many countries… we do not recommend large and untargeted fiscal packages at this juncture,” the IMF said late on Sept 27. The Bank of England said it would buy long-term government bonds over the next two weeks to combat a recent slide in British financial assets. The bank’s actions are focused on long-term government debt, where yields have soared in recent days, pushing up government borrowing costs. The move came five days after Prime Minister Liz Truss’ new government sparked investor concern when it unveiled an economic stimulus program that included £45 billion (US$48 billion) of tax cuts and no spending reductions. Click here to read…
Russia offers Africa free fertilizer
Russian producer of mineral and potash fertilizers, Uralchem, has decided to supply its products to Africa free of charge, the company’s chief executive Dmitry Konyaev announced on Sept 19. “The situation in the world today is really bad. Africa has been starving and will continue to starve, unfortunately. We, as a company, even decided to supply fertilizers to Africa for free, just because we are part of this global chain when you need to produce food,” Konyaev said during his speech at the Innofood forum in Sochi. The first batch of 25,000 tons of humanitarian cargo could reportedly be sent to the Republic of Togo. According to Uralchem CEO, there are no problems with food security in Russia, since the country is fully provided with fertilizers and can send a significant quantity for export. Earlier this month, President Vladimir Putin said at a summit meeting of the Shanghai Cooperation Organization that the country is ready to transfer 300,000 tons of Russian fertilizers accumulated in EU ports due to Western sanctions to developing countries free of charge. While Putin welcomed the decision to allow Russian fertilizers into the EU, he criticized Brussels for only allowing the bloc’s member states to buy them. Click here to read…
ADB plans $14 billion program to ease food crisis in region
The Asian Development Bank plans to provide at least $14 billion over 2022-2025 in a comprehensive program of support to ease a food crisis in Asia and the Pacific, its president said on Sept 27.”Our response will be comprehensive, bringing into focus both the immediate and long term aspects of food security,” ADB President Masatsugu Asakawa told a news briefing. The ADB said assistance under the program will begin this year, and will be drawn from across the lender’s sovereign and private sector operations. Russia’s invasion of Ukraine has sparked a global food crisis as the conflict has disrupted supplies of food staples, fertilizer, straining a global food system already weakened by climate change impact. Russia has called its actions in Ukraine a special military operation. “This is a timely and urgently needed response to a crisis that is leaving too many poor families in Asia hungry and in deeper poverty,” Asakawa said in separate remarks at the ADB’s 55th annual meeting. Click here to read…
US to release more crude from reserves
The US Department of Energy has announced plans to sell up to 10 million barrels of oil from its Strategic Petroleum Reserve (SPR) for delivery in November, according to a press statement released on Sept 19. The sale will be of oil with low sulphur content from the SPR’s sites in Big Hill, Texas and West Hackberry, Louisiana. Contracts will be awarded no later than October 7. The SPR holds oil in heavily guarded former salt caverns along the Gulf of Mexico coast. The offer extends the timing of the government’s plan to sell 180 million barrels from the stockpile to tame fuel costs, and comes at a time when global crude prices are returning to levels seen before the start of Moscow’s military operation in Ukraine in late February. In March, President Joe Biden announced plans for the largest ever release of oil from the nation’s strategic reserve, with 180 million barrels to be sold by the end of October. According to the Department of Energy, just 155 million barrels have been released so far, and the next sale will bring the total to 165 million. There is still no deadline for selling the entire batch. Click here to read…
China may extend refined fuel export quota into next year – sources
China may tweak a proposed sharp increase in refined fuel export quotas for this year by extending the plan into next year, as it weighs the benefits to the economy of higher exports against low domestic stocks and operational challenges, four sources told Reuters.However, the four sources with direct knowledge of the matter – and three others – said the government was still reviewing the matter. The market has been widely expecting China to release a fifth batch of fuel export quota of up to 15 million tonnes for the rest of the year, which would be its largest so far in 2022 and lift China’s sagging exports. The proposal from refiners’ planning departments, following a government call to boost trade, has led some refiners to ready an increase in output to take advantage of the quota. However, the four sources said Beijing might extend the duration of the proposed volume of 15 million tonnes into next year to cushion its impact on global markets and avoid a price crash. The National Development and Reform Commission, China’s powerful economic planner, was hosting a meeting with the nation’s major oil refiners earlier on Sept 28, the sources said. It was not immediately clear if the meeting reached a decision. Click here to read…
Middle Eastern state plans major Russian gas purchase
Iran’s Ministry of Petroleum announced on Sept 19 that Tehran will soon be importing nine million cubic meters of Russian gas daily, through Azerbaijan. According to the Fars News Agency, the plan was unveiled in a report providing details of a $40-billion deal between the National Iranian Oil Company (NIOC) and Russia’s state-owned gas producer Gazprom, reached in July. The country’s oil ministry has also reportedly stated it will be getting, under a swap deal, six million cubic meters of gas a day from Russia. The gas will then be exported to other countries from southern Iran in the form of liquefied natural gas (LNG). The deal also includes the completion of gas pipelines from Iran to Pakistan and to Oman, and of a number of LNG production projects in the country. Last month, Oil-Price reported that Moscow and Tehran had been taking serious steps toward forming an OPEC-style alliance for natural gas that would allow them to coordinate an ‘extraordinary’ proportion of reserves, as well as control over prices. Click here to read…
When Bhutan Reopens, Tourists from Wealthier Countries Will Pay a Lot More
When the Himalayan kingdom of Bhutan reopens its doors for tourists for the first time in 2½ years on Sept 24 it will charge many of them a higher “sustainable development” fee of $200 per person per night. The fee intensifies the country’s long time strategy of seeking high-value international tourists, and is exclusive of any other spending. That means Western tourists could now be looking at spending several hundred dollars more a day, with the price tag for longer treks running into thousands of dollars more. Tour operators warn the fee will make the country less accessible to many travellers, especially trekkers, and ultimately will hurt the local tourism industry. “It came as a real shock to everybody,” said Brent Olson, a tour operator in San Francisco who has been running tours to Bhutan for more than three decades. “Time will tell the long-term effects of these decisions.” Bhutan has been charging tourists a fee ever since it opened to international tourists in 1974—long before the concept began surfacing in parts of the world that were besieged by too many travellers before the pandemic. Now, as worries over Covid-19 abate, travel looks set to boom, and destinations around Asia reopen, Bhutan’s government says the higher charge will help preserve the country’s heritage and environment, improve tourism services, and create job opportunities for its youth. Click here to read…
China Reins In Its Belt and Road Program, $1 Trillion Later
China has spent a trillion dollars to expand its influence across Asia, Africa and Latin America through its Belt and Road infrastructure program. Now, Beijing is working on an overhaul of the troubled initiative, according to people involved in policy-making. A slowing global economy, combined with rising interest rates and higher inflation, have left countries struggling to repay their debts to China. Tens of billions of dollars of loans have gone sour, and numerous development projects have stalled. Western leaders have criticized China’s lending practices, which some have labelled “debt-trap diplomacy,” embarrassing Beijing. Many economists and investors have said the country’s lending practices have contributed to debt crises in places like Sri Lanka and Zambia. After nearly a decade of pressing Chinese banks to be generous with loans, Chinese policy makers are discussing a more conservative program, dubbed Belt and Road 2.0 in internal discussions, that would more rigorously evaluate new projects for financing, the people involved said. They have also become open to accepting some losses on loans and renegotiating debt, something they had been previously unwilling to do. Chinese President Xi Jinping once called the initiative “a project of the century,” but the overhaul exposes limits to his vision to reshape the global order. Click here to read…
Taiwan says chip companies in talks about Europe investment
Some Taiwanese chip companies are in talks with European countries about investments there, a government minister said on Sep 28, adding the administration was “pleased” to see efforts by local companies to work with democratic allies. The European Union has been courting Taiwan, a major semiconductor producer, as one of the “like-minded” partners it would like to work with under the European Chips Act unveiled in February. While Taiwan and the EU held-high level trade talks in June, less than a week after that meeting Taiwan Semiconductor Manufacturing Co (TSMC) said it had no concrete plans for factories in Europe. TSMC, the world’s largest contract chipmaker and Asia’s most valuable listed company, flagged last year that it was in the early stages of reviewing a potential expansion into Germany but there appears to have been no substantive progress since then. “To my knowledge, the European Commission and member states are talking to some of our companies, which is purely a commercial decision for the companies to make,” Taiwan Deputy Economy Minister Chen Chern-chyi told reporters in Taipei, responding to a question on potential Taiwanese chip investment in Europe. However, he did not name any firms. Click here to read…
US keeps target admissions for refugees at 125,000
The United States says it is keeping its cap on refugee admissions at 125,000 for the upcoming fiscal year. The announcement on Sept 27 came despite pressure from advocates to allow more refugees entry, as record numbers of people flee their homes because of war, violence, persecution and human rights abuses. The United Nations refugee agency (UNHCR) said the Russian invasion of Ukraine, the Taliban takeover of Afghanistan and other emergencies have pushed the displacement figure above “the dramatic milestone of 100 million” this year. Refugee advocates have been pushing the administration of US President Joe Biden to do more to restore the 40-year-old Refugee Admissions Program, which was gutted under the Trump administration when admissions were slashed to a record low of 15,000. After taking office, Biden quadrupled the number of refugee admissions permitted for the remaining months of the 2021 budget year.He then set the target at 125,000 for the 2022 budget year, which ends on September 30. But despite raising the number and removing bureaucratic barriers put in place by his predecessor, the Biden administration has struggled to make progress on the programme. So far, fewer than 20,000 refugees have been admitted. Click here to read…
New search for national mineral resources to begin: ministry
China will begin a new program of exploration for mineral and energy resources, said the Ministry of Natural Resources (MNR) while reporting on the nation’s energy and mineral resources in the past decade. Yu Haifeng, director general of the Department of Geological Exploration under the MNR, said at a press conference that 23 oil fields with over 100 million tons of reserves and 28 gas fields with over 100 billion cubic meters of reserves have been found in the past 10 years. In the past decade, over half of the nation’s newly detected crude oil was in western regions of China, and the output from the region accounted for one third of the national volume. The newly detected natural gas volume in the region accounted for 80 percent of the overall volume, said Yu. Marine oil & gas output accounted for one quarter of the overall volume, said Yu. In 2021, the crude oil output of the Bohai Sea Oil Field saw significant growth, with annual output passing 30 million tons. Yu announced at the conference a series of new explorations targeting key strategic natural resources, to further enhance the nation’s mineral resources security. Click here to read…
Meta Shuts Down Influence Operations Started in China, Russia
Meta Platforms Inc. said Sept 27 that it has removed separate networks in China and Russia that were running covert influence campaigns related to U.S. politics and the war in Ukraine.In a post on its blog, the Facebook parent company said it has taken down a small network that originated in China and operated across multiple social media platforms, targeting U.S. voters on both sides of the political spectrum ahead of the 2022 midterm election. The network also pushed antigovernment sentiments related to the Czech Republic’s foreign policy toward China and Ukraine, Meta said. The company said it has removed a large network that originated in Russia and operated across a sprawling network of more than 60 websites that were made to look like legitimate European news organizations.The network targeted Germany, as well as France, Italy, Ukraine and the U.K., with narratives supporting Russia in the conflict with Ukraine and criticizing Ukrainian refugees, Meta said. Meta called it the “largest and most complex Russian-origin operation that we’ve disrupted since the beginning of the war in Ukraine.” Meta has routinely reported taking down these types of networks from its social media services since the discovery that Russian trolls used Facebook to interfere with the 2016 U.S. election. Click here to read…
Strategic
US must alter course in how it deals with China or face inevitable conflict, foreign minister says
Chinese Foreign Minister Wang Yi has warned that a major confrontation between China and the US is inevitable if Washington does not change its course in dealing with Beijing. In a speech outlining the development of China-US relations, Wang said Taiwan had become the biggest risk in their bilateral ties, and the imposition of any Western system on mainland China would be futile. China-US ties had reached their lowest point since normalisation in 1979, Wang said, despite both Chinese President Xi Jinping and his US counterpart Joe Biden vowing to put relations on the right track. “The US seems to have two different sets of musical scores. Their leaders’ political will for a stable bilateral relationship has yet to be translated into logical policies,” he said. Wang was speaking on Sept 22 at the Asia Society in New York ahead of talks with US Secretary of State Antony Blinken on the sidelines of the UN General Assembly session. Wang referred to the US designation of Beijing as a major rival, its moves to strengthen regional alliances to encircle China, restricting Chinese tech companies because of national security concerns and boosting ties with Taiwan with the visit of US House Speaker Nancy Pelosi in August. “If the US handles Sino-US relations along a zero-sum game mentality and continues to use ‘political correctness’ to mislead its China policy, it will not only fail to solve its own problems, but will also bring Sino-US relations to conflict and confrontation,” he said. Click here to read…
Putin announces partial mobilization of Russian citizens
Russian President Vladimir Putin ordered a partial mobilization of reservists in Russia on Sept 21, risking a deeply unpopular step that follows a string of humiliating setbacks for his troops nearly seven months after invading Ukraine. It’s the first mobilization in Russia since World War II and is sure to further fuel tensions with the Western backers of Ukraine, who derided the move as an act of weakness. The move also sent Russians scrambling to buy plane tickets out of the country. The Russian leader, in a seven-minute televised address to the nation aired on Sept 21 morning, also warned the West that he isn’t bluffing over using all the means at his disposal to protect Russia’s territory, in what appeared to be a veiled reference to Russia’s nuclear capability. Putin has previously warned the West not to back Russia against the wall and has rebuked NATO countries for supplying weapons to help Ukraine. The total number of reservists to be called up could be as high as 300,000, officials said. Even a partial mobilization is likely to increase dismay, or sow doubt, among Russians about the war in Ukraine. Shortly after Putin’s address, Russian media reported a sharp spike in demand for plane tickets abroad amid an apparent scramble to leave despite exorbitant prices for flights. Click here to read…
Donbass referendums will change security reality – Moscow
Moscow will treat any potential attacks on Donbass as well as Kherson and Zaporozhye Regions after the referendums on joining Russia as attacks on its own territory, Kremlin spokesman Dmitry Peskov has confirmed. Voting in the two Donbass republics as well as the two southern Ukrainian Regions started on Sept 23. Responding to a media query on whether the areas would be treated as Russian land, Peskov replied: “Definitely.” He also said that the country’s constitution would come into force in these territories as soon as they joined. Russia’s former president and the deputy head of the nation’s Security Council, Dmitry Medvedev, warned that Russia would not hesitate to use “all means available” to defend its territory. “An encroachment on Russian territory is a crime,” Medvedev said earlier this week. He also stated that Donbass joining Russia would make the “geopolitical transformation [of] the world irreversible.” The US, as well as its allies in Europe and elsewhere – including Germany – have already stated they would not recognize the results of the referenda that kicked off on Sept 23. NATO Secretary General Jens Stoltenberg also branded the polls “sham referendums” on Twitter. The voting is scheduled to be held between September 23 and 27. Click here to read…
Swedish experts report explosions at Nord Stream pipeline sites
Scientists in Denmark and Sweden registered underwater explosions near the Nord Stream pipelines on Sept 26, when several major leaks were reported. Sabotage is now believed to be behind the damage. “There is no doubt that these were explosions,” seismologist Bjorn Lund of Sweden’s National Seismology Centre (SNSN) told public broadcaster SVT on Tuesday. The Danish military released aerial footage of the leaks, showing large spots and visible bubbling in the water. Nord Stream 1 suffered two leaks northeast of the Danish island of Bornholm, while Nord Stream 2 was damaged south of Dueodde, a beach located at the island’s southernmost tip, the military noted. Earlier in the day, Moscow said it has been looking into the reasons behind the leaks, suggesting the pipelines were targeted in an act of sabotage. Kremlin spokesman Dmitry Peskov said that currently “no option can be ruled out” on the causes of the incident. The Nord Stream 1 pipeline was completed in 2011. Construction work on Nord Stream 2 began in 2018, and suffered numerous delays due to political pressure and sanctions from the US. The pipeline was finished and pressurized in September 2021, but never actually got online. Two days before the start of Russia’s military operation in Ukraine, the German government put its certification on indefinite hold, and has repeatedly rejected any suggestions, both domestic and from Moscow, to open the pipeline. Click here to read…
What does it take to get promoted in Chinese politics? Up-and-comers offer clues
In addition to their ability to handle crisis, the men sent to battle the virus in Hubei share other traits now seen as requirements for top party positions: a proven record of competency, the ability to earn Xi’s trust, a highly educated background and strong regional leadership experience. Analysts said governing two major provinces – especially an economically underdeveloped border region like Xinjiang or Tibet – and ministerial experience can serve as a testing ground for senior cadres to demonstrate their capability and potential flaws. Many poised for top spots also share close connections to Xi and his trusted aides and have professional expertise in areas such as technology and business. Several of Xi’s former associates in Zhejiang and Fujian provinces are expected to be promoted to even higher positions at the congress, according to Alfred Wu, an associate professor at National University of Singapore’s Lee Kuan Yew School of Public Policy. One high-flyer is Shanghai party chief Li Qiang, who remains in contention despite public discontent about his handling of the city’s two-month Covid-19 lockdown earlier this year. Li was Xi’s secretary for three years while Xi was party chief of Zhejiang province. Click here to read…
What issues did Middle East leaders raise in UNGA address?
Leaders from the Middle East gathered at the United Nations General Assembly (UNGA) commonly expressed concern about the Russian war on Ukraine and its consequences on global inflation, gas prices, and food – in addition to the fissures it opened among major powers in a way not seen since the Cold War. The loss of important grain and fertiliser exports from Ukraine and Russia has triggered a food crisis, especially in developing countries, and inflation and a rising cost of living in many others. King Abdullah II of Jordan said the pandemic, exacerbated by the crisis in Ukraine, has disrupted global supply chains and increased hunger. Many well-off countries experiencing empty food shelves for the first time “are discovering a truth that people in developing countries have known for a long time – for countries to thrive, affordable food must get to every family’s table,” he said. “On a global level, this demands collective measures to ensure fair access to affordable food, and speed the movement of staples to countries in need,” Abdullah said. The monarch also spoke of the climate crisis and the need for “global partnerships” to affect change in an issue that has left a devastating impact on many countries. Click here to read…
Iran to join drills with Russia and China
The Iranian navy will take part in joint exercises with Russian and Chinese warships “this autumn,” Major General Mohammad Hossein Bagheri announced on Sept 22 in Tehran.The chief of staff of the Iranian armed forces did not offer much in the way of details about the planned manoeuvers, but said other countries such as Oman and Pakistan might participate as well. Bagheri made the announcement on the sidelines of a military parade in Tehran marking Sacred Defense Week, according to the Mehr news agency. “Exercises involving the navies of Iran, Russia and China will be held in the northern part of the Indian Ocean this autumn,”Mehr quoted Bagheri as saying. This would be the fourth joint exercise by the three navies since 2019, and the first since the escalation of hostilities in Ukraine. Eleven Iranian vessels, three Russian and two Chinese warships took part in the January 2022 exercises in the northern Indian Ocean. Among the activities practiced at the time were artillery fire on naval targets, search-and-rescue operations, and the liberation of a civilian ship from pirates, according to the Russian Defense Ministry. Russia and China conducted a joint patrol in the northern Pacific, off the coast of Japan, earlier this month. A total of eight ships from Russia’s Pacific Fleet and the People’s Liberation Army Navy took part in those manoeuvers. Click here to read…
Israel sells air defence system to Arab country – media
Israel has sold its Surface-to-air Python and Derby (SPYDER) air defence system to the United Arab Emirates, Reuters reported on Sept 22, citing two sources familiar with the deal. A third source claimed Abu Dhabi had also purchased Israeli anti-drone technology. Manufactured by Rafael Advanced Defense Systems, the SPYDER is a short-to-medium range air defence system that can use Python-5 and Derby missiles with ranges of 20 and 50km, respectively. The system can detect aircraft from 70 to 110km away and is designed to locate and destroy drones, cruise missiles, and other aircraft. It is not clear how many of the interceptors were being shipped, or whether they had yet arrived in the UAE. While the UAE would not be the first nation to get the SPYDER system – Azerbaijan, the Czech Republic, Ethiopia, Georgia, India, Peru, the Philippines, Singapore, and Vietnam all own them – it would be the first in the Middle East apart from Israel. The purchase was reportedly made around the same time the US and Israel were putting together the Middle East Air Defense Alliance, an initiative to synchronize regional air defence systems to combat Iranian drone and missile attacks that West Jerusalem publicly announced in June. Click here to read…
Saudi Crown Prince Mohammed bin Salman Named Prime Minister
Saudi Arabia’s King Salman Sept 27 named his son, Crown Prince Mohammed bin Salman, as prime minister, boosting the profile of the 37-year-old, day-to-day ruler of the kingdom as he tries to end years of international isolation over a journalist’s killing.Prime minister, a title traditionally held by the Saudi monarch, will extend Prince Mohammed’s tight grip on power, as he already oversees the country’s most sensitive portfolios—the economy, defence and oil. King Salman also sees his son as a national figure who represents the kingdom’s restless younger generation.Prince Mohammed is leading an economic overhaul to reduce the kingdom’s dependence on oil, ushering in a more muscular Saudi foreign policy, and granting new social freedoms. He also is punishing dissent and limiting free speech.The king also named as defence minister his younger son Khalid bin Salman, the former deputy defence minister and ambassador to Washington. As prime minister, the king had overseen a cabinet of ministers in charge of government functions ranging from the oil industry to health, a role that will formally go to Prince Mohammed now. The announcement, in a royal decree, said King Salman will continue to chair weekly cabinet meetings. Click here to read…
Turkey files protest with Greece and US as Aegean tensions rise
Ankara has summoned the Greek ambassador and protested to Washington after accusing Greece of deploying United States armoured vehicles on two Aegean islands near the Turkish coast. Greece branded the move on Sept 26 as “completely unfounded”, and accused Ankara of aggressive behaviour. Greece and Turkey, which are both part of the US-led NATO defence alliance, have feuded for years over maritime borders and energy exploration rights in the Aegean and east Mediterranean seas. The latest escalation started when Turkish security sources shared aerial images over the weekend purportedly showing ships loaded with US armoured vehicles docking at two Greek islands, Lesbos and Samos. The Turkish foreign ministry told the Greek envoy that Athens should “stop violations” and respect the non-military status the islands were assigned by international law, the Anadolu state news agency reported. In a note to the US embassy in Ankara, Turkey told Washington that its “weapons should not be used in breach” of the islands’ agreed status, Anadolu said. Turkish President Recep Tayyip Erdogan separately accused Greece of staging “provocations” and playing “perilous games”. Athens rejected Ankara’s objections as “completely unfounded and incompatible with international law”, AFP news agency reported a Greek diplomatic source as sayingClick here to read…
North Korea fires 2 missiles into East Sea in latest show of force
North Korea launched what appear to have been two short-range ballistic missiles into the East Sea, Sept 28, apparently in another show of force against the latest joint military drills between South Korea and the United States. The South’s Joint Chiefs of Staff (JCS) said it detected the launches of two North Korean missiles from the Sunan area of Pyongyang between 6:10 p.m. and 6:20 p.m. The missiles travelled a distance of 360 kilometers after reaching a maximum altitude of 30 kilometers at a top speed of Mach 6, according to the JCS. “The military has strengthened monitoring activities and vigilance and is maintaining a full readiness posture in close cooperation with the U.S.,” it added. Sept 28’s launch came on the eve of a planned visit to Seoul by U.S. Vice President Kamala Harris, who is scheduled to visit the Demilitarized Zone (DMZ) separating the two Koreas. Harris will be the highest-ranking U.S. official to visit the heavily-fortified inter-Korean border since 2019 when then-American President Donald Trump crossed it to meet North Korean leader Kim Jong-un. The launch also comes after the North fired a short-range ballistic missile, Sept 25, a day before Seoul and Washington started large-scale combined navy drills for a four-day run. The drills are taking place in waters off the east coast of South Korea and mark the largest joint naval exercise in five years. Click here to read…
Kishida takes part in the first leaders’ meeting of CTBT Friends
Seeking to have the Comprehensive Test Ban Treaty (CTBT) take effect as soon as possible, Prime Minister Fumio Kishida on Sept. 21 attended the first leaders’ meeting of like-minded nations. While foreign ministers of the so-called CTBT Friends group have met in the past, there has never been a meeting of the six nations’ leaders who comprise the group. “Japan will continue to work to have the CTBT take effect in the near future and to strengthen the verification process,” Kishida said at the meeting held here.Kishida touched upon the fact that next year’s Group of Seven summit will be held in Hiroshima in May.“Through various discussions, we want to push forward in a realistic and practical manner to bring about a world without nuclear weapons,” he said. The United Nations approved the CTBT in 1996. So far, 174 nations have ratified it, but 44 nations with the capability of developing nuclear weapons must ratify it for the treaty to take effect. Eight such nations, including the United States, China and North Korea, have not yet ratified the CTBT. Japan and Australia established CTBT Friends in 2002 to augment the work of the Conference on Facilitating the Entry into Force of the Comprehensive Nuclear-Test-Ban Treaty, which meets once every two years. The CTBT Friends holds its meeting in years when the conference is not held. Click here to read…
China’s ex-vice minister of public security sentenced to death with two-year reprieve
Sun Lijun, former Chinese vice minister of public security, was sentenced to death with a two-year reprieve for taking more than 646 million yuan of bribes, manipulating the stock market, and illegally possessing firearms, according to the Intermediate People’s Court of Changchun in Northeast China’s Jilin Province on Sept 23. Sun has been stripped of his political rights and all his personal property has been confiscated. After the expiration of the two-year reprieve, his sentence will be commuted to life imprisonment, with no possibility of commutation or parole, according to the court ruling. The crime of accepting bribes earned Sun the death sentence with a two-year reprieve. He was also sentenced to eight years in prison for manipulating the stock market and was fined 1 million yuan, in addition to a further five years for illegally possessing firearms. The court thus decided to hand down the death sentence with a two-year reprieve. From 2001 to April 2020, Sun used the influence accumulated through past positions to seek gains for others and illegally accepted money and property worth 646 million yuan. In the first half of 2018, Sun manipulated related individuals to engage in stock market dealings, helping certain individuals to avoid losses of 145 million yuan. Click here to read…
Deadly Standoff Between Kyrgyzstan And Tajikistan Threatens Stability In Eurasia
On September 14–17, Kyrgyzstan and Tajikistan locked heads in the biggest military conflict between the two sides to date. Another border skirmish between the Kyrgyzstani and Tajikistani border guards quickly became a major military conflict that raged for three days and left behind at least 110 dead and 218 wounded on both sides (Kloop, September 20). Kyrgyzstan called the conflict “a premeditated armed act of aggression” and stated that Tajikistan “treacherously encroached on the territorial integrity and sovereignty of Kyrgyzstan” (Mfa.gov.kg, September 18), whereas Tajikistan accused Kyrgyzstan of “an act of aggression” and escalation of the conflict (Khovar, September 18). On September 19, the heads of the national security services of Kyrgyzstan and Tajikistan signed a protocol to stabilize the border situation and establish peace between the two countries (Radio Ozodi, September 19). This military conflict bore many similarities to the bloody conflict that took place between the two countries in the same region in April 2021. It also hinted at a worrisome trend of frequent, large-scale and intense interstate military conflicts that threaten peace and stability in Central Asia. At least 150 border conflicts have erupted since Kyrgyzstan and Tajikistan became independent 31 years ago (Kaktus Media, September 20). However, nothing has ever come close to the latest conflict in terms of its scale and intensity. Click here to read…
Bangladesh fears new Rohingya exodus from fighting in Myanmar
Clashes between Myanmar’s army and rebels are sparking fears of a new Rohingya exodus into Bangladesh, where the government says it can no longer bear the burden. Hundreds of frightened people have gathered near the border and are looking for opportunities to cross the Naf River into Bangladesh, refugees who have made it say, according to an official of the Arakan Rohingya Society for Peace and Human Rights (ARSPH), an advocacy group. Muhammed Jubair, general-secretary of the the ARSPH, said newcomers to Bangladesh include two children, two women and a man who crossed earlier this month. Some media outlets have reported that over a dozen Rohingya people entered Bangladesh this month and have taken shelter at the camps around Cox’s Bazar. The trickle comes as Bangladesh already hosts around 1 million refugees in a cluster of camps, raising concerns among Bangladeshi officials that far more may be on the way. At the same time, Dhaka recently summoned Naypyidaw’s ambassador to protest about bullets and mortars that fell on Bangladeshi territory since renewed fighting broke out in August, sparking panic among residents.Jubair said that due to the clashes, Rohingyaresidents in Myanmar are afraid to go outside for work, have no food, and thus are trying to flee. Click here to read…
Medical
Outbreak of Rare Ebola Strain Declared in Uganda
Uganda declared an outbreak of a relatively rare strain of the Ebola virus on Sept 20, raising concerns of a wider spread because existing vaccines are unlikely to provide quick protection against this version of the virus. A 24-year-old man who died Sept 19 in central Uganda was found to have been infected with the Sudan strain of Ebola, said Diana Atwine, permanent secretary at Uganda’s Health Ministry. It is the first time in more than a decade that the Sudan strain has been detected in Uganda, which has experienced six previous outbreaks of Ebola, including three of the Sudan strain. Eight other patients who are suspected of having Ebola are currently being treated in health facilities in Mubende, a forested farming district about 90 miles west of the capital Kampala, Dr. Atwine said. Health authorities are also investigating the deaths of six other people, including three children, in the village of the 24-year-old man dating back to early September.Most known outbreaks of Ebola, including the 2014-16 epidemic that killed more than 11,000 people in West Africa, were caused by a different version of the virus, known as the Zaire strain. Click here to read…
Well-timed fourth COVID-19 vaccine necessary for exit from pandemic: China CDC
A well-timed second booster dose is necessary for a safe, long-term exit from the pandemic, the Chinese Center for Disease Control and Prevention (China CDC) said in a recent article, confirming the necessity of a fourth shot against COVID-19. It also called on the last 10 percent of the country’s population who have yet to be fully vaccinated to take shots as soon as possible. The article titled “Perspectives: Vaccinate with Confidence and Finish Strong” was recently published by the China CDC Weekly. Some of the leading experts and officials of the China CDC, such as Yin Zundong, Lance Rodewald and Feng Zijian, are among the authors. To achieve sustained, optimized protection for a safe, long-term exit from the pandemic, the China CDC article clearly said that well-timed second booster doses are certainly required. It said that the design of its second booster dose strategy will be based on emerging evidence of the duration of protection afforded by the vaccines. The Global Times learned from a source close to the matter that the country has started clinical research on the second booster shot. Whether to roll out a fourth dose has been widely discussed in China. Click here to read…
World leaders pledge billions to fight AIDS, TB, and malaria
The Global Fund to Fight AIDS, Tuberculosis and Malaria has secured $14.25bn in crucial new funding, after decades of progress against the diseases was derailed by the COVID-19 pandemic. United States President Joe Biden, who hosted the conference in New York City on the sidelines of the annual high-level meeting of the United Nations General Assembly (UNGA), said the funding — the highest amount ever pledged for a multilateral health organisation — is crucial to combating the diseases. “This is an investment that will save another 20 million lives, reduce mortality from these diseases another 64 percent in the next four years,” said Biden. The fund, a public/private alliance set up in 2002, is seeking $18bn for its next three-year funding cycle from governments, civil society and the private sector. Before Wednesday’s conference, it had already raised more than a third of the total. “What’s happened today is actually an unparalleled mobilisation of resources for global health,” said Global Fund Executive Director Peter Sands. “Thank you all for stepping up, especially in a challenging global economic environment, and I ask you, keep it going,” urged Biden. The Global Fund said the $14.25bn figure was likely to increase as more donations come in. The United Kingdom and Italy have said they will announce their commitments at a later date. Click here to read…