Economic

U.S. to host APEC in 2023 in push for Indo-Pacific economic pact

The U.S. will play host to the Asia-Pacific Economic Cooperation (APEC) meeting in 2023, the White House said Feb 10. “President [Joe] Biden and Vice President [Kamala] Harris offered to host APEC next year because of our focus on expanding and deepening economic ties in the region — and we thank our fellow APEC economies for supporting the U.S. offer to host,” press secretary Jen Psaki said in a statement. The U.S., which pulled out of the Trans-Pacific Partnership trade pact under former President Donald Trump, will promote the establishment of an Indo-Pacific Economic Framework (IPEF) to set rules on trade and tech. APEC consists of 21 economies in the Asia-Pacific. Psaki said the U.S. chairmanship underscores “our commitment to advance fair and open trade and investment, bolster American competitiveness and ensure a free and open Indo-Pacific.” With labor unions strongly opposed to the TPP, now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Biden administration has been unable to return to the pact. Meanwhile, China has raised its hand for membership and analysts in Washington fear the U.S. may be left out of rule-setting in the region if it is not involved. Click here to read…

The market’s Russia reaction is overdone, no joke

Ukraine Prime Minister Volodymyr Zelensky’s remark February 14 that Russia would attack his country on the 16th of February sent stock markets tumbling before a senior aide qualified the statement as a joke. Zelensky was a professional comedian before he became Ukraine’s leader. The US stock market recouped some of its earlier losses, and the NASDAQ index closed unchanged. A key political risk gauge, the cost of US-dollar-denominnated insurance against default on Russia’s sovereign bonds spiked to 2.75 percentage points above the interbank rate early February 14 before settling back to 2.5 percentage points. That’s close to the high point during the peak of the Covid-19 market panic in March 2020, with the difference that the credit default swap market reflected fear of sanctions against the Russian Federation rather than economic distress. Russia’s external finances are robust. Its current account surplus stands at 5% of GDP, close to the highest among the world’s big economies, and its foreign exchange reserves have nearly doubled during the past five years to over $630 billion. Even under a worst-case scenario – a Russian incursion into Ukraine followed by punitive sanctions – it is hard to envision a scenario in which Russia would default on its foreign debt. Click here to read…

China’s Communist Party urges ‘orderly’ capital development after year of regulatory crackdown

China should “support and guide” the healthy development of capital, and prevent the “barbaric growth of capital”, an opinion piece in the party mouthpiece People’s Daily said on Feb 08. The article reflects the overriding concern of China’s leaders, who initially directed government bodies to check the disorderly expansion of capital during the same economic meeting in 2020. The following year, regulators took a wide range of actions to rein in the technology, off-campus tutoring, property, and entertainment sectors, wiping out more than US$1 trillion of market value from Chinese company stocks. The People’s Daily said that efforts to prevent the disorderly expansion of capital have seen initial results, and the order of market competition is improving. The article added that preventing the “barbaric growth of capital” does not mean that China is against capital. The commentary also called on the government to set up “traffic lights” for capital development, an idea that was first put forward during last December’s top economic meeting without elaboration. According to the People’s Daily, efforts to establish a “traffic light” mechanism involves refining a blacklist to manage market access, strengthening market regulation, and cracking down on monopolistic and anticompetitive behaviours. Click here to read…

Jiangsu medical device firm Meihua set to break seven-month Chinese IPO drought in New York

Meihua International Medical Technologies is poised to become the first Chinese company to list in the US in nearly seven months. A successful IPO could lay the groundwork for other Chinese issuers, after a regulatory crackdown by Beijing froze out mainland-based companies. The Jiangsu province based disposable medical-device maker is expected to price its IPO this week, according to the New York Stock Exchange website. Meihua is seeking to raise about US$57.5 million on Nasdaq from the sale of five million shares in a range from US$9 to US$11. Chinese companies had stayed away from New York since July, as they were caught between China’s regulatory clampdown and closer scrutiny by the US SEC on Chinese companies seeking to raise funds on Wall Street. Foreign investors’ demand for Chinese issuers’ IPOs remains to be seen following ride-hailing operator Didi Chuxing’s controversial US$4.4 billion US IPO in June. The company went ahead with its IPO despite not having secured cybersecurity clearance back home. Consumer services firm Sentage Holdings was the last Chinese issuer to complete an IPO in the US, when it raised US$20 million on Nasdaq in July 2021, data from Refinitiv shows. Since then, the US market has not seen any IPOs from a China-based company. Click here to read…

US-China tech war: Washington’s latest unverified list hits at the most vulnerable parts of China’s technology supply chain

The United States government set off alarms in Beijing with last week’s addition of Chinese entities to an export watch list, as the move tightened the stranglehold on China’s technological supply chain by hitting at its most vulnerable parts. The US Commerce Department added 33 Chinese entities, mostly hi-tech manufacturers, including those that produce laser components and pharmaceuticals, government research labs and two universities to its unverified list (UVL), citing the inability to verify their end users. Chinese companies on the list must supply additional documents and be subject to other checks to deal with US suppliers. The move has “created new shocks to the stability of the supply chain,” said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce. The list would create a wedge in the cooperation between China and the US, as it will “adversely affect future international economic cooperation and harm the interests of all parties,” he said. The new names on the UVL are not well-known brands like SMIC or Huawei, but they belong to a group of industrial and technology businesses that Beijing is counting on to help China survive, or even win, its technology rivalry against the US. Click here to read…

Qatar’s Asian gas contracts hamper Ukraine planning

Qatar’s deepening trade in natural gas with Asia is complicating global efforts to protect Europe from the threat of an energy squeeze by Russia. U.S. President Joe Biden’s administration has spoken with major producers, including Qatar, about the possibility of delivering more gas to Europe if a Russian invasion of Ukraine interrupts gas flow to the continent. But trade and commodities experts interviewed by Nikkei Asia say it is unlikely that Qatar could unilaterally increase supplies of liquefied natural gas to Europe, because much of its output is committed to long-term contracts concentrated in Asia. Qatar accounts for about one-fifth of global LNG supplies, but the Persian Gulf country already is producing at full capacity, said Laura Page, senior LNG analyst at Kpler, a data and analytics group. Around 90%-95% of supply from Qatar’s largest gas processing and export facility, Ras Laffan, is also locked into long-term “point-to-point” contracts with buyers in Asia, Page said. “Asia is in its peak demand season at the moment, so near term, I don’t see large swaths of Qatari supply being rerouted to Europe,” she said. Siamak Adibi, head of the Middle East gas team at consulting firm FGE, put it more bluntly: “Qatar cannot really solve Europe’s energy crisis.” Click here to read…

Germany hardens China stance, echoing EU’s ‘systemic rival’ label

The German foreign ministry is poised to send a paper to other government departments urging them to regard China as a “systemic rival,” as the new Olaf Scholz administration breaks with longtime Chancellor Angela Merkel’s nonconfrontational approach. The ministry’s plan, confirmed to Nikkei Asia by high-ranking German politicians, would make official key China-related points in a coalition agreement Germany’s three ruling parties signed after their election win over Merkel’s Christian Democratic Union last September, much to Beijing’s displeasure. The deal between the center-left Social Democratic Party (SPD), the Greens and the pro-business Free Democratic Party (FDP) contained several elements that angered China, including allegations of forced labor camps in Xinjiang and a demand for more international integration of Taiwan. Although the ministry’s intention to use the term “systemic rival,” first reported by Der Spiegel earlier this month, comes long after the European Commission slapped China with that label, it represents a major adjustment on Berlin’s part. During her 16-year chancellorship, Merkel largely shied away from outright confrontation with Beijing. This appeared to be partly due to German business interests: One in three German cars is sold in China, and China is Germany’s second-largest export market after the U.S., at just over 100 billion euros ($114 billion) in 2021. Click here to read…

Taiwan to lift blanket ban on Fukushima food amid CPTPP push

Taiwan will lift its blanket ban on food imports from Japan’s Fukushima and neighboring areas, imposed after the nuclear disaster in 2011, as it seeks Tokyo’s support for joining an Asia-Pacific trade pact. Announcing the decision at a news conference on Feb 08, spokesman Lo Ping-cheng noted that many governments have relaxed similar prohibitions, “with only Taiwan and China [still] completely banning food imports from areas related to Fukushima.” He added that even Hong Kong and Macao had eased their restrictions. Sheu Fuu, director of Taiwan’s food safety office, said the authorities would put in place inspection standards that are stricter than international practices, including those of the U.S. and European Union, to ensure there are no health risks stemming from radiation. Analysts say the Tsai Ing-wen government’s decision is designed to shore up support from Japan for Taiwan’s bid to join the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Taipei and Beijing both applied for membership last year. In Feb 08’s briefing, Lo, a minister without portfolio, said that dismantling unreasonable trade restrictions was “definitely not a guarantee” but removed one obstacle against Taiwan’s CPTPP accession. Click here to read…

Oil closes below $90 per barrel for a second day

Oil closed below $90 a barrel for a second day as the possibility that a nuclear deal with Iran could bring relief to a tight market overshadowed a big drop in U.S. crude stockpiles. Futures in New York ended Feb 09’s session just 0.3% higher, paring earlier gains, as a flurry of diplomacy in Vienna has spurred renewed optimism of a breakthrough in the nuclear talks. In the morning, prices had risen as much as 1.4% after a government report showed U.S. crude inventories fell to the lowest level since 2018 amid record demand. “Rising demand often comes hand-in-hand with upward price movements, but a long-awaited supply relief could be around the corner, helping to narrow the imbalance and cool market sentiment,” said Louise Dickson, Rystad Energy’s senior oil markets analyst. Oil’s rally had paused this week after a run of seven weekly gains propelled prices to the highest since 2014. The possibility of more Iranian oil comes as global supply has increasingly been unable to keep up with surging demand from economies emerging from the pandemic. OPEC+ is struggling to meet its pledged output increases, in part due to outages in Libya, while traders are looking to see how much the U.S. shale patch will lift output this year. Click here to read…

Ford, Toyota halt some output as U.S., Canada warn on trucker protests

Ford and Toyota on Feb 09 both said they were halting some production as anti-coronavirus mandate protesters blocked U.S-Canada border crossings that have prompted warnings from Washington and Ottawa of economic damage. Many pandemic-weary Western countries will soon mark two years of restrictions as copycat protests spread to Australia, New Zealand and France now the highly infectious Omicron variant begins to ease in some places. Horn-blaring protests have been causing gridlock in the capital Ottawa since late January and from Monday night, truckers shut inbound Canada traffic at the Ambassador Bridge, a supply route for Detroit’s carmakers and agricultural products. A number of carmakers have now been affected by the disruption near Detroit, the historic heart of the U.S. automotive sector, but there were other factors too such as severe weather and a shortage of semi-conductor chips. Toyota, the top U.S. seller, said it is not expected to produce vehicles at its Ontario sites for the rest of the week, output has been halted at a Ford engine plant and Chrysler-maker Stellantis has also been disrupted. More than two-thirds of the C$650 billion ($511 billion) in goods traded annually between Canada and the United States is transported by road. Click here to read…

Strategic

The rising Eurasian primacy of China

“Potentially, the most dangerous scenario would be a grand coalition of China, Russia, and perhaps Iran, an ‘anti-hegemonic’ coalition united not by ideology but by complementary grievances.” This famous warning of Jimmy Carter’s famous national security adviser, Zbigniew Brzezinski, has now officially come to pass, with the “Joint Statement of the Russian Federation and the People’s Republic of China on the International Relations Entering a New Era and the Global Sustainable Development”, signed, sealed and delivered on February 4. It was, without doubt, timed precisely to coincide with the Beijing Winter Olympic Games and the official attendance of Vladimir Putin. The relationships between China, Russia and the United States are a lot like the three-body problem in classical mechanics; there are only so many combinations, yet the variables are so complicated as to defy predictions. Ever since Mao Zedong and Zhou Enlai, China has always wanted to partner with the US. Even today, in the face of hostilities, it still wants to avoid having the US as an enemy. But wisely, Beijing has also hedged its bets with Russia, just in case Washington would turn on it, as it does now. America, however, forgot to hedge its bets. Click here to read…

China and Russia’s ‘no limits’ ties test West as Ukraine shivers

In November 2001, Russian President Vladimir Putin insisted to American journalists that a new Cold War between Moscow and Washington was inconceivable. “If someone thinks that Russia can again become an enemy of the United States,” he said, “I think these people do not understand what has happened in the world and what has happened to Russia.” Two decades on, the president’s tone has changed dramatically. During his visit to Beijing for the Winter Olympics, Putin and Chinese President Xi Jinping on Feb 04 presented a united front against Washington. A lengthy joint statement issued after their three-hour meeting opposed further NATO expansion, denounced the new Australia-U.K.-U.S. alliance (AUKUS) and warned Washington against deploying intermediate-range missiles in either Europe or Asia. Pointing fingers squarely at the U.S., Putin and Xi said their governments “remain highly vigilant about the negative impact of the United States’ Indo-Pacific strategy on peace and stability in the region.” Putin has gone from an ostensibly pro-Western leader to one of China’s closest geopolitical partners. “China is our strategic cushion,” said Sergey Karaganov, head of Russia’s Council on Foreign and Defense Policy and a longtime Kremlin adviser. “We know that in any difficult situation, we can lean on it for military, political and economic support.” Click here to read…

US, UK leaders agree ‘window for diplomacy’ remains over Ukraine

British Prime Minister Boris Johnson and US President Joe Biden agreed in a call on Feb 14 that a “crucial window for diplomacy” remained over the crisis in Ukraine, Johnson’s office said. “They agreed there remained a crucial window for diplomacy and for Russia to step back from its threats towards Ukraine,” a Downing Street spokesman added of the call between the transatlantic allies. “The leaders emphasised that any further incursion into Ukraine would result in a protracted crisis for Russia, with far reaching damage for both Russia and the world.” The two leaders also stressed that diplomatic discussions with Russia remained “the first priority” and welcomed talks that have already taken place between Russia and NATO allies, according to the spokesman. “They agreed that Western allies must remain united in the face of Russian threats, including imposing a significant package of sanctions should Russian aggression escalate,” he added. “They also reiterated the need for European countries to reduce their dependence on Russian gas, a move which, more than any other, would strike at the heart of Russia’s strategic interests.” Click here to read…

China plans events with U.S. to mark 50th anniversary of Nixon visit

China and the U.S. are preparing to hold events commemorating the 50th anniversary of President Richard Nixon’s historic visit, the foreign ministry here said Feb 10, signaling Beijing’s desire for a detente with Washington. “As far as I know, China and the U.S. will hold a series of commemorative activities in the near future to take stock of the history and look into the future,” ministry spokesperson Zhao Lijian told reporters in a regular briefing. The announcement seems to suggest Beijing’s desire to move toward easing tensions with Washington. But Zhao also used the occasion to send a veiled message to President Joe Biden against getting involved with Taiwan. Nixon arrived in China on Feb. 21, 1972, becoming the first U.S. president to visit the People’s Republic. The two sides later issued the Shanghai Communique, the first joint document of its kind signed between the two nations. The Shanghai Communique “established the principles to be followed in the development of bilateral relations, especially the ‘One China’ principle, which becomes the political foundation for the normalization of China-U.S. relations and the establishment of diplomatic relations between the two countries,” Zhao said. Beijing’s “One China” principle, mentioned by Zhao, considers Taiwan a Chinese province and part of its sovereign claim. Click here to read…

New US Indo-Pacific strategy includes a stronger presence in Southeast Asia

US President Joe Biden’s administration released its long-awaited Indo-Pacific strategy on Feb 11, one that leans heavily on alliances, military deterrence and a stronger presence in Southeast Asia to counter China’s growing regional and global footprint. American officials have stressed that China is not the sole focus of their regional initiatives. But many of the strategy’s provisions – including a larger role for European allies in the Taiwan Strait and beyond, as well as stronger regional trade, economic and infrastructure linkages and an empowered India – appeared squarely aimed at countering China’s economic clout, military power and Belt and Road Initiative. “This is not our China strategy,” said a senior US official. But “it clearly identifies China as one of the challenges that the region faces and in particular the rise of China, China’s much more assertive and aggressive behaviour.” In a bid to support the administration’s outlined pivot to Asia – even as the chaotic pull-out from Afghanistan, Iran nuclear concerns and risk of a Russian invasion of Ukraine demand Washington’s immediate attention – the plan pledges to open new US embassies and consulates throughout the region, expand the Peace Corps, launch an Indo-Pacific Economic Framework and expand the role of the US Coast Guard. Click here to read…

Quad alliance diplomats stress ‘adherence to international law’ but don’t mention China

Top diplomats from the burgeoning, informal alliance known as the Quad met in Australia on Feb 11 and reaffirmed their commitment to a “free, open and inclusive rules-based order” in the Pacific without mentioning China by name. “We oppose coercive economic policies and practices that run counter to this system and will work collectively to foster global economic resilience against such actions,” said a joint statement from the foreign ministers of Australia, India, Japan and the United States. “We reiterate the importance of adherence to international law,” particularly in the East and South China Seas, they said. The Quad meeting comes as the four partners have seen their respective relations with Beijing worsen over a wide range of issues, including territorial disputes, human rights and the origins of the coronavirus in China. Although there was little new in the statement, the meeting appeared designed to underscore the importance of the alliance, of showing up and making progress in the “pivot” to Asia, even in the face of pressing global events. The in-person summit comes as Washington remains consumed by the growing crisis between Ukraine and Russia, with US officials warning that Moscow may be preparing to invade its neighbour. Click here to read…

Ukraine crisis roils waters for Japan’s bid to reclaim islands from Russia

Tensions over Ukraine have thrown up another obstacle to Japan’s decades-long pursuit of a return of islands under Russian control, even as Japanese Prime Minister Fumio Kishida vows to continue a dialogue with Moscow, observers say. “I will carry on the discussions started by our countries’ leaders in 2018,” Kishida said Feb 07 during a rally in Tokyo. The annual event demanded Russia return the islands, known as the Northern Territories in Japan, occupied by Soviet forces in the waning days of World War II. As Russia masses troops near its border with Ukraine, heightening fears of an invasion that could plunge Eastern Europe into war, U.S.-ally Japan finds itself in a tricky position. The Ukraine situation could have repercussions for Tokyo’s diplomatic outreach to Moscow on the Northern Territories, which have stood in the way of a formal peace treaty between the two countries. “It is extremely regrettable that the Northern Territories issue has not been resolved and that our countries have not signed a peace treaty,” Kishida said, echoing language used by his predecessor Yoshihide Suga in 2021. Click here to read…

Taiwan keeps eye on strait as tensions mount on Ukraine-Russia border

Taiwan is closely watching the situation in the narrow strait that separates it from mainland China and raising its preparedness in response to what is happening with Ukraine, the government said on Feb 12, though it added the two cases were very different. Beijing, which claims Taiwan as its own territory, has stepped up military activity near the self-governing island over the past two years, though Taiwan has reported no unusual manoeuvres by mainland Chinese forces in recent days as tensions over Ukraine have spiked. As Western nations warn a war in Ukraine could ignite at any moment, Taiwan’s Presidential Office said the military continued to strengthen its surveillance operations, adding that regional peace and stability was “the shared responsibility of all parties”. “All military units continue to pay close attention to the situation in Ukraine and movements in the Taiwan Strait, continue to strengthen joint intelligence and surveillance, and gradually increase the level of combat readiness in response to various signs and threats to effectively respond to various situations,” the office said. Click here to read…

Marcos-Duterte alliance confirms lead in Philippine election poll

Ferdinand Marcos Jr, son of the late Philippine dictator of the same name, and the daughter of President Rodrigo Duterte widened their lead in the latest opinion polls for president and vice president, respectively. Marcos’s score surged to 60% in a Jan. 19 to 24 survey by independent polling agency Pulse Asia, rising from 53% in December. Davao Mayor Sara Duterte’s score increased to 50% from 45% in the poll for vice president. The strong poll result puts them in pole position for the May 9 elections that will test the Filipinos’ appetite for change as well as the continuing influence of two of the political dynasties that have dominated the Southeast Asian nation’s politics in the past half century. Official campaigning kicked off on Feb. 8. If Marcos wins, it will be a remarkable political triumph for the family after his father’s ouster in the 1986 People Power revolution following two decades in power. The Commission on Elections on Thursday dismissed petitions to disqualify Marcos from the race, removing a possible obstacle to his presidential bid. The two presidential children were both seen as presidential contenders last year, but Sara Duterte eventually opted to seek the vice presidency and team up with Marcos. Click here to read…

North Korea in ‘phase of provocation,’ US says after Asian allies meeting

North Korea is “in a phase of provocation,” US Secretary of State Antony Blinken declared during a news conference after a meeting with his Japanese and South Korean counterparts in Hawaii on Feb 12. The two Asian nations apparently agreed with that judgment, though not revealing details of their next steps, as Blinken added that “we are absolutely united in our approach, in our determination.” The nations jointly released a statement demanding Pyongyang engage in “dialogue” and cease its “unlawful activities.” The country began the year with several missile tests, triggering condemnation from the three countries who met to “very closely consult” on future steps toward engaging with North Korea. Japanese FM Yoshimasa Hayashi told local media the discussion had been “very fruitful,” even as he declined to offer up further details. Last month South Korean President Moon Jae-in denounced the DPRK’s tests as a violation of UN Security Council resolutions, urging his country’s northern neighbor to end “actions that create tensions and pressure.” While the North has put a pause on missile launches during the Beijing Winter Olympics, its neighbors – and those watching from Washington – expect a resumption in missile launches once the games are over. Click here to read…

Ukraine denies NATO U-turn plan

Ukraine’s ambassador to the UK was “taken out of context” when he suggested that Kiev may officially end its goal to join NATO as a means of averting war with Russia, the Ukrainian Foreign Ministry has said. In a statement on Feb 14, ministry spokesperson Oleg Nikolenko attempted to cover for Ambassador Vadim Prystaiko, whose comments were reported on Feb 13 night as a significant revelation. Ukraine’s goal to join NATO is enshrined in the country’s constitution, and the ambassador’s comments could therefore be seen as unconstitutional. Asked by BBC Radio 5 Live presenter Stephen Nolan in an interview on Feb 13 if Ukraine might “contemplate not joining NATO” to avoid a war, Prystaiko responded: “We might, you know, especially [having] been threatened like that, blackmailed by that, and pushed to it.” In the hours since, Prystaiko’s comments have come under significant scrutiny, and Kiev has scrambled to control the damage. “Ukraine is not yet a member of NATO or any other security alliance. Therefore, the key issue for our country is the issue of security guarantees,” Nikolenko said. “Ukraine’s aspirations for NATO and the EU are enshrined in the country’s constitution,” Nikiforov insisted, according to Ukrainian outlet Strana. Click here to read…

Pentagon names culprits behind disastrous Afghan withdrawal

The Pentagon’s exhaustive report on the haphazard US departure from Afghanistan has revealed many on the ground blamed constant meddling by American VIPs for “distracting” them from what needed to be done, creating the chaotic scenes that shocked observers at home. According to the 2000-page report, obtained by the Washington Post via the Freedom of Information Act request earlier this week, the senior officers in charge of the evacuation were even forced to change plans because of the nonstop interference from afar. The report includes numerous interviews, including testimony regarding the suicide bombing outside the airport that killed 170 Afghans and 13 Americans just days before they were supposed to leave Afghanistan for good after the longest war in US history. “You had everyone from the White House down with a new flavor of the day for prioritization,” Rear Admiral Peter Vasely, the senior US figure in Kabul at the time of the evacuation, told the military interviewer. And it wasn’t just President Biden calling in favors, either – First Lady Jill Biden, members of Congress, journalists, and even the Vatican all weighed in on who needed rescuing the most, according to the rear admiral. “I cannot stress enough how these high-profile requests ate up bandwidth and created competition for already-stressed resources,” Vasely continued. Click here to read…

US moves to thaw $7bn in frozen Afghan funds

The US government has begun freeing up some $7 billion in frozen Afghan funds held in American banks on Feb 11– without providing Taliban access to the money. The White House announced the move as part of a plan to tackle the “widespread humanitarian crisis” in Afghanistan, which it deemed a “national emergency.” President Joe Biden issued an executive order that invokes emergency powers to require US financial institutions to consolidate and “block” the assets – which belong to the Da Afghanistan bank, the country’s central bank. The move earmarks some $3.5 billion toward aid efforts, though the amount ultimately to be transferred depends on various ongoing litigation efforts to compensate US victims of Taliban terrorism, including relatives of those who died in the September 11 attacks. The order came as Washington – which has rejected Taliban calls to release the money and has not recognized the militant group as Afghanistan’s legitimate government – faced a court deadline on Feb 11 to declare its position on the victim groups’ lawsuits. In recent weeks, the Biden administration has also come under pressure from Congress to use the funds to address economic and humanitarian crises in Afghanistan. Click here to read…

Iran says outcome of Vienna talks hinges on Western decisions

Iran has said any potential breakthrough in Vienna talks aimed at restoring its 2015 nuclear deal with world powers rests on political decisions by Western nations, after handing in its own final proposals. “It’s better for Iran if there’s an agreement in Vienna and sanctions are lifted today rather than tomorrow,” said Foreign Minister Hossein Amirabdollahian in a news conference with his Irish counterpart Simon Coveney in Tehran on Feb 14. “So we are in a hurry for a good agreement, but it must be within the framework of logical talks and to achieve the rights of the Iranian nation,” he added. The Iranian foreign minister also called on the United States and the European signatories of the nuclear deal to “stop playing with text and time” of an agreement and display their political will. Earlier on Feb 14, Ali Shamkhani, the secretary of Iran’s Supreme National Security Council, said in a tweet that the talks in the Austrian capital have reached a stage where an outcome could be announced, depending on the US position. Shamkhani also said he held a phone call with Iran’s chief negotiator, Ali Bagheri Kani, on Feb 13 which reinforced his view that the Iranian team faces a tough challenge in sticking to its agenda, and that Western parties continue to make a “show” of political will to evade their commitments. Click here to read…

Libya: Gunmen attack Dbeibah’s car ahead of vote to replace him

Gunmen have attacked Libyan Prime Minister Abdulhamid Dbeibah’s convoy in the capital, Tripoli, according to sources, hours before the eastern-based parliament is due to convene to elect a new prime minister. The attack took place early on Feb 10 as the interim leader was returning home, the sources told Al Jazeera, calling it an “assassination attempt”. One of the bullets penetrated the windscreen of the prime minister’s car, but he and his driver escaped unhurt. Exclusive footage obtained by Al Jazeera showed what appeared to be a bullet hole in the windscreen of Dbeibah’s car. The sources said the bullets were fired from a light weapon, probably a Kalashnikov. Libya’s chief prosecutor has launched an investigation into the attack, according to the sources. The prime minister’s office has yet to release a statement. The attack comes amid intense factional wrangling over the control of the government, with Dbeibah pledging to fight efforts by his opponents to replace him. Reporting from Tripoli, Al Jazeera’s Malik Traina said the timing of the attack “could not be more significant”, referring to Thursday’s scheduled parliamentary session. Dbeibah, a powerful businessman from the city of Misrata, was installed as head of the United Nations-backed Government of National Unity (GNU) in March and was tasked with leading the country to elections on December 24. Click here to read…

South Korea candidates kick off presidential race dominated by scandal, third-party challenge

South Korea’s presidential candidates formally began campaigning on Feb 08 in what is set to be the tightest race in 20 years between its two main parties, dominated by scandals that have allowed a third challenger to potentially play the role of kingmaker. Polls say voters are looking for a president who can clean up polarized politics and corruption and tackle the runaway housing prices that have dogged Asia’s fourth-largest economy. Curbing North Korea’s weapons tests and resuming talks would be a plus, but even a record month of missile testing by Pyongyang in January hasn’t made foreign policy a key issue for the March 9 vote in South Korea. But the major issues named in the polls have been overshadowed by scandals and petty controversies, ranging from allegations of abuse of power to spats over one candidate’s relationship with a shaman and an anal acupuncturist. Fourteen candidates have signed up since official registration opened on Feb 06, with Lee Jae-myung, the flag-bearer of the ruling Democratic Party, facing off against Yoon Suk-yeol, from the conservative main opposition People Power Party. Dubbed the “unlikeable election” due to high disapproval ratings and smear campaigns waged by both sides, Lee and Yoon are neck and neck in polls, although Yoon has maintained a slight lead in recent weeks. Click here to read…

Medical

Ebola-like virus detected in Europe

Two people who have recently returned to the UK from Western Africa have been diagnosed with Lassa fever, an Ebola-like viral hemorrhagic disease, London confirmed on Feb 09. The cases were detected within the same family living in the east of England, the government said, adding that a third suspected case is currently under investigation. The symptoms of the disease include fever, weakness, headaches, and vomiting. It can also lead to bleeding from the mouth, gastrointestinal tract, or vagina, and eventually cause death, although its fatality rate is significantly lower than that of Ebola. Around a quarter of patients who survive the disease might suffer from deafness. In half of such cases, hearing returns after several months. A disease endemic to a number of West African nations, Lassa fever is usually transmitted by exposure to food or household items contaminated with urine or the feces of infected rats. It can also spread by exposure to infected bodily fluids. The UK’s High Consequence Infectious Disease Network is dealing with the ongoing care of the infected patients. The UK Health Security Agency (UKHSA) believes the risk associated with the disease is low for the UK.Click here to read…

South Korea limits Covid-19 care

South Korea will limit Covid-19 care to those who are over the age of 60 or have underlying health conditions from Feb 10, with the rest of cases forced to undergo ‘self-treatment’ at home as cases of the Omicron variant rise. ‘Low-risk’ cases – or those with Covid-19 who are under the age of 60 and without pre-existing conditions – will be required to monitor their own symptoms and provide their own care while quarantined at home, with government officials citing limited resources behind the change in policy. Son Young-rae, a spokesperson for the South Korean Ministry of Health and Welfare, advised low-risk groups to “prepare an antipyretic agent or a thermometer to watch out for a rapid increase in body temperature” on Feb 10. Low-risk cases were also told to “contact a medical institution immediately” if they develop any respiratory symptoms. Son explained that South Korea’s previous scheme, which provided care to all, “is no longer realistic in light of our limited resources and takes massive social and economic costs compared with our medical needs.” Click here to read…

EU pushes for COVID jabs in Africa as supply ‘no longer’ an issue

Top European Union officials have said low absorption of COVID-19 vaccines in African countries had become the main problem in the global vaccine rollout following a recent increase in supplies of jabs. African nations began their vaccine campaigns much later than wealthier states which rushed to secure the initially limited doses starting in late 2020. But in recent months, supplies have increased exponentially, and many states have trouble absorbing them, with some, such as Congo and Burundi, having used less than 20 percent of available doses, according to figures from Gavi, a nonprofit global vaccine alliance. “The problem seems no longer to be the level of donations,” France’s Foreign Minister Jean-Yves Le Drian told a news conference in Lyon on Feb 09. “The problem is absorption,” he added at the end of a meeting of EU health and foreign ministers, which he chaired as France holds the rotating presidency of the EU. EU diplomats said that vaccines’ short shelf life, limited storage facilities, poor healthcare infrastructure and vaccine hesitancy were among the main reasons that hampered vaccination in Africa. Separately, European Commission President Ursula von der Leyen said the EU would increase spending to boost vaccinations in African states that were lagging behind. Click here to read…