Live Streaming
Program Highlight
Company Profile
International News (6893)
October
Putin seeks to kindle anti-Western sentiment among Asian leaders
Written by Nur Yasmin
President Vladimir Putin used a speech to Asian leaders on Thursday to develop a theme that he has pressed more intensely as Russia's military fortunes have waned: that Moscow is fighting the West to establish a fairer world.
With Western economic sanctions also tightening, Putin has shifted his emphasis from fighting alleged "fascists" in Kyiv to confronting a "collective West" that is arming Ukraine with the supposed aim of expanding its influence at Russia's expense.
"The world is becoming truly multi-polar," Putin said. "And Asia, where new centres of power are emerging, plays a significant, if not key, role in it."
At a meeting of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in the Kazakh capital Astana, Putin described the West as a neo-colonial power bent on stunting the development of the rest of the world and exploiting poorer countries.
"Like many of our partners in Asia, we believe a revision is needed of the global financial system, which has for decades allowed the self-proclaimed so-called 'golden billion', who redirected all capital flows and technologies to themselves to live largely at others' expense," Putin said.
The members of the CICA have their own diverse agendas, however, and have also become more valuable to Russia as customers for the oil, gas and other commodities that it is finding hard to sell to the West.
The body includes several Central Asian ex-Soviet nations that regard Russia as their former colonial overlord - as well as China, India and some Arab and southeast Asian nations, which have benefited from close trading ties with the West and Japan.
Kazakh authorities this month rejected a demand from Russia that they expel Ukraine's ambassador, chiding Moscow for what they called an inappropriate tone between "equal strategic partners".
The phrase "golden billion" became popular in Russian political discourse in the 1990s as part of a theory positing that Western nations had conspired to exploit the resources of others, above all Russia, while keeping them poor and brainwashing their populations.
The theory also supports Putin's avowed aim of restoring Russia's status of global power by opposing what he sees as a United States-led cabal.
Kyiv and the West deny any intention to threaten or diminish Russia, which they say is waging a war of imperialist aggression against Ukraine.
German Chancellor Olaf Scholz on Thursday described the war in Ukraine as part of a Russian "crusade" against liberal democracy. (Reuters)
October
Bahamas to introduce price controls on dozens of key food staples
Written by Nur Yasmin
The Bahamas on Wednesday outlined the details of temporary price control measures aimed at helping families brave mounting global inflation, saying they would affect 38 key staples, such as eggs, bread and sanitary towels.
Prime Minister Philip Davis announced the controls in a national address on Tuesday as part of broader measures to help the island nation, which imports many goods, tackle the effects of rising price pressures globally.
The controls, which limit price increases to 15% for wholesalers and 25% for retailers, take effect from Monday and will last six months, after which they will be subject to review.
"The prime minister remains confident that these additional measures will provide relief to Bahamian families," the government said in a statement.
Davis also said on Tuesday the government would cut profit margins on price-controlled drugs.
He announced the first minimum wage hike since 2015 to $260 a week from $210 previously, beginning retroactively from July for public sector employees and at the start of next year for private sector workers.
Davis also unveiled a $6 million investment in new defense vessels to shore up border security, saying the country did not have the resources to deal with a wave of undocumented migrants.
The Bahamas has, according to its defense force, apprehended more migrants so far this year than in the previous three calendar years combined, amid a steady rise in sea-bound vessels seeking to reach the United States.
Bahamian immigration authorities reported the apprehension of 68 migrants at sea over August, largely from Cuba. (Reuters)
October
Bhutan holds high-altitude race to highlight climate dangers
Written by Nur Yasmin
Twenty-nine runners set off on a rare high-altitude race in Bhutan on Thursday to highlight the dangers of climate change to the Himalayan kingdom sandwiched between China and India, two of the world's biggest polluters.
Bhutan, roughly the size of Switzerland, has forests covering 70% of its land, which absorb nearly three times more climate-changing emissions than the country produces a year.
"The race is designed to raise awareness about climate change and its risks to our economy and the livelihood of the people," Foreign Minister Tandi Dorji told Reuters by telephone after flagging off the race in the northwestern town of Gasa.
Organisers said the runners would take five days to complete the 203 km (126 miles) Snowman Race from Gasa to the northeastern town of Chamkhar along a trail that normally takes trekkers up to 20 days.
South Asia’s only carbon-negative country, with a population of fewer than 800,000 people, is vulnerable to the effects of climate change, which is speeding up the melting of its glaciers and causing floods and unpredictable weather patterns.
Pakistan, at the western end of the Himalayas, has this year been hit by unprecedented flooding caused by unusually heavy rain and faster run-off from its glaciers. Its government and the United Nations have blamed climate change.
The racers from 11 countries including the United States, Germany, Japan, Tanzania and Bhutan, will run at an average altitude of 4,500 m (14,800 ft), with a high point of 5,470 m (17,946 ft).
The route will take them through diverse terrain from sub-tropical jungle to fragile, high-altitude eco-systems, with diverse flora and fauna, as well as people and cultures.
"I've probably completed maybe around 30 ultra marathons, but never like this,” American runner Sarah Keyes told the state-run Bhutan Broadcasting Service.
"It will be somewhat of an unknown going to that high of an altitude, but I do feel good overall, physically,” Keyes said. (Reuters)
October
Indian Supreme Court panel divided over school hijab ban
Written by Nur Yasmin
An Indian Supreme Court panel said on Thursday it was divided over a ban on hijabs in schools, and referred the matter to the chief justice, effectively leaving in place a state's ruling against the women's headgear that has sparked uproar.
Karnataka in southwestern India in February became the only state to ban the garment in schools, triggering protests by Muslim students and their parents.
Hindu students have staged counter-protests, adding to frictions at a time when some Muslims already complain of marginalisation under Prime Minister Narendra Modi's Hindu nationalist government.
India's debate comes as protests have rocked Iran after women objected to dress codes under its Islamic laws.
Justice Hemant Gupta said he had wanted an appeal against the ban quashed while his colleague on the two-judge panel, Sudhanshu Dhulia, said hijabs were a "matter of choice".
The chief justice would set up a larger bench to consider the case, they said. Supreme Court decisions apply nationwide.
"Secularism is applicable to all citizens, therefore permitting one religious community to wear their religious symbols would be antithesis to secularism," Gupta said in his order.
But Dhulia said restrictions were unfair.
"Asking girls to take off their hijab before they enter the school gates is first an invasion on their privacy, then it is an attack on their dignity and then ultimately it is a denial to them of secular education," he said in the judgement.
MUSLIM STUDENTS DISAPPOINTED
Anas Tanwir, a lawyer for one of the Muslim petitioners who appealed against the Karnataka ban, told Reuters the split verdict was a "semi-victory" for them.
"Hopefully, the chief justice will set up the larger bench soon and we will have a definitive verdict," he said by telephone.
Muslims are the biggest minority group in India, accounting for 13% of the population of 1.4 billion, the majority of whom are Hindu.
The lack of verdict disappointed some Muslim students in the town of Udipi, where protests first erupted.
"I have decided to stop going to college and will complete the rest of my education by correspondence," said Ayesha Imthiaz, 20, who is in the second year of a degree.
At least five of her Muslim friends had stopped attending college after the hijab ban, she said. "I am not hopeful that the ban will ever be overturned," Imthiaz added.
Critics of the ban say it is another way of marginalising Muslims, adding that Modi's Bharatiya Janata Party (BJP), which rules Karnataka, could benefit from the controversy ahead of a state election due by May next year.
The BJP, which draws its support mainly from Hindus, says the ban has no political motive. (Reuters)
October
North Korea says it practiced firing nuclear-capable cruise missiles
Written by Nur Yasmin
North Korean leader Kim Jong Un oversaw the launch of two long-range strategic cruise missiles, state media reported on Thursday, calling it a test to confirm the reliability and operation of nuclear-capable weapons deployed to military units.
The test firing was conducted on Wednesday, and was aimed at "enhancing the combat efficiency and might" of cruise missiles deployed to the Korean People's Army "for the operation of tactical nukes," state media Korea Central News Agency (KCNA) said.
Stressing that the test launch was another clear warning to its "enemies," leader Kim Jong Un said the country "should continue to expand the operational sphere of the nuclear strategic armed forces to resolutely deter any crucial military crisis and war crisis at any time and completely take the initiative in it," according to KCNA.
On Monday, KCNA said Kim had guided nuclear tactical exercises targeting South Korea over the past two weeks in protest of recent joint naval drills by South Korean and U.S. forces involving an aircraft carrier.
KCNA reported that the two missiles test-fired on Wednesday flew for 10,234 seconds and "clearly hit the target 2,000 km (1,240 miles) away."
A U.S. State Department spokesperson declined to comment on the launches, and said Washington remained focused on coordinating closely with its allies and partners to address the threats posed by North Korea.
South Korean President Yoon Suk-yeol's office said the North's cruise missiles do not pose a threat as they are "slow enough to be intercepted," but Seoul is ready to sternly respond to Pyongyang's provocations with "overwhelming forces."
The South's military also said it had monitored the launch in real time and was continuing to analyse data from the tests.
North Korea first tested a "strategic" cruise missile in September 2021, which was seen by analysts at the time as possibly the country's first such weapon with a nuclear capability.
Wednesday's test confirms that nuclear role and that it is operational, although it is unclear whether North Korea can build warheads small enough for a cruise missile.
The cruise missiles are among a number of smaller weapons recently developed by North Korea to fly low and maneuver so as to better evade missile defences.
Kim said last year that developing smaller warheads was a top goal, and officials in Seoul have said that if the North resumes nuclear testing for the first time since 2017, developing smaller devices could be among its aims.
North Korea's cruise missiles usually generate less interest than ballistic missiles because they are not explicitly banned under U.N. Nations Security Council resolutions.
Cruise missiles and short-range ballistic missiles that can be armed with either conventional or nuclear warheads are particularly destabilising in the event of conflict as it can be unclear which kind of warhead they are carrying, analysts said.
"North Korea’s cruise missiles, air force, and tactical nuclear devices are probably much less capable than propaganda suggests," Leif-Eric Easley, a professor at Ewha University in Seoul. "But it would be a mistake to dismiss North Korea’s recent weapons testing spree as bluster or saber-rattling."
U.S. President Joe Biden's administration rolled out a long-delayed national security strategy on Wednesday with only a lone reference to North Korea, underscoring limited U.S. options to contain its nuclear and missile programs.
Daniel Russel, the top U.S. diplomat for East Asia under former President Barack Obama, said this was striking, "not only because it passes so quickly past a persistent and existential threat, but also because it frames the strategy as 'seeking sustained diplomacy toward denuclearization,' when North Korea has so convincingly demonstrated its utter rejection of negotiations."
A report by the U.S.-based Center for Strategic and International Studies said on Wednesday that a recent underwater launch of a ballistic missile from a lake probably has more political than military usefulness.
"Rather than an emerging threat, this test was most likely a propaganda and deception operation designed to focus regional and world attention on North Korea’s desired external image of a mighty and powerful nuclear-armed nation," the report said.
The North's pursuit of new types of nuclear weapons has renewed calls by some in South Korea to redeploy American tactical nuclear weapons, which were withdrawn in 1991, or for Seoul to leave the Non-Proliferation Treaty and develop its own arsenal.
After backing the idea of asking the United States to redeploy nuclear weapons during the election campaign last year, Yoon has since said that option has been ruled out.
Senior members of this party, however, this week said it was time to reconsider. (Reuters)
October
Russian border region says Ukraine shelled it, Kyiv blames stray Russian fire
Written by Nur Yasmin
The governor of a Russian border region accused Ukraine of shelling an apartment block there on Thursday but a Kyiv official said a stray Russian missile was to blame.
Vyacheslav Gladkov said a school had been damaged in a village close to the border, and that the top floor of an apartment block had been struck in the city of Belgorod.
Ukrainian presidential adviser Mykhailo Podolyak said on Twitter that Russia had launched a missile towards the Ukrainian city of Kharkiv but "something went wrong and it hit (a) residential building".
Video showed rubble next to a 16-storey apartment block with a large rupture near its roof. Reuters could not independently establish who was to blame for the incident, in which Gladkov said no one had been hurt.
The governor of another Russian region, Kursk, said an electricity substation had been damaged by a shell, which had knocked out power to two settlements. Reuters was not able to independently verify that report.
Russian investigators said they had opened a criminal case into the shelling of the region and blamed the Ukrainian military. Ukraine's defence ministry did not immediately reply to a request for comment.
Russia's border regions have reported sporadic attacks since the invasion of Ukraine in February, including on targets such as fuel and ammunition stores. Ukraine has not admitted responsibility, but an official has described previous incidents as "karma" for Moscow's war actions. (Reuters)
October
Investors regain risk appetite with a vengeance after initial inflation sell-off
Written by Nur Yasmin
Stocks reversed course to rally sharply higher after MSCI's global stock index lurched to a July 2020 low and the dollar gave up strong gains as investors digested a red hot U.S. inflation reading that cemented bets for a big Federal Reserve rate hike next month.
Traders initially flipped to safety mode after the U.S Labor Department's consumer prices index (CPI) report showed headline CPI gaining at 8.2% annually as rents surged by the most since 1990 and the cost of food also rose. Core CPI, which excludes food and fuel prices, beat forecasts at 6.6%.
On Wall Street the S&P 500 (.SPX) fell as much as 2.3% while Nasdaq dropped as much as 3.2% before both recovered their losses to soar higher. The euro had fallen as much as 0.72% against the dollar after the data as nervous investors turned to the safety of the greenback before turning higher.
"When you have that big of a shock that it moves that fast it's not unusual for it to get a little bit overdone. That might actually be a good sign we're not seeing follow-on selling," said Shawn Cruz, head trading strategist at TD Ameritrade in Chicago, Illinois.
While the data implies that the Fed will continue with sizeable rate hikes, Cruz said the market retracement "gives a sense there's a large enough pool of investors out there who weren't caught off guard .. that maybe we are getting down to levels, where a lot of the pessimism is already priced in."
The Dow Jones Industrial Average (.DJI) rose 575.73 points, or 1.97%, to 29,786.58, the S&P 500 (.SPX) gained 64.6 points, or 1.81%, to 3,641.63 and the Nasdaq Composite (.IXIC) added 158.39 points, or 1.52%, to 10,575.49.
The pan-European STOXX 600 index (.STOXX) rose 0.85% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.20%. Emerging market stocks (.MSCIEF) lost 1.10%.
Global markets have suffered a volatile few weeks as investors have worried that major economies will be pushed firmly into recessions before inflation is tamed.
After the data, traders were betting that the Fed would raise interest rates sharply in three weeks' time and ultimately lift rates to 4.75%-5% by early next year.
"After today’s inflation report, there can’t be anyone left in the market who believes the Fed can raise rates by anything less than 75 bps at the November meeting," Seema Shah, Chief Global Strategist at Principal Asset Management said.
"If this kind of upside surprise is repeated next month, we could be facing a fifth consecutive 0.75% hike in December with policy rates blowing through the Fed’s peak rate forecast before this year is over."
Minutes of the Fed's latest policy meeting released on Wednesday showed officials "emphasized the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action." But several policymakers did stress a need to "calibrate" the pace of further rate hikes to reduce the risk of "significant adverse effects" on the economy.
While U.S. Treasury yields shot higher after the hotter-than-expected inflation suggested higher interest rates higher for longer, bond selling eased as the session wore on.
Benchmark 10-year yields were up 5.4 basis points to 3.956%, from 3.902% late on Wednesday.
In currencies the dollar had hit a fresh 24-year peak against the yen and gained across the board, after after the inflation data but the greenback since gave up some gains.
The U.S. currency hit a high of 147.2 yen and pushed the euro to a 2-week low.
Recently though the euro up 0.74% to $0.9776. The Japanese yen weakened 0.18% versus the greenback at 147.16 per dollar, while Sterling was last trading at $1.134, up 2.13% on the day.
Benchmark 10-year gilt yields , which erupted after the UK government laid out tax cutting plans last month, had swung from a fresh 14-year peak at 4.632% to 4.25% in post CPI trading.
The Bank of England has insisted that its emergency bond market support will expire on Friday as originally announced, countering media reports of continued aid if necessary.
While crude oil was having a volatile session the commodity was most recently rallying as low levels of diesel inventory ahead of winter helped investors shrug off higher-than-expected stocks of crude and gasoline. Oil futures had fallen 2% on Wednesday due to demand worries.
U.S. crude recently rose 1.82% to $88.86 per barrel and Brent was at $94.11, up 1.8% on the day. (Reuters)
October
Kremlin says its goals in Ukraine can be achieved through talks
Written by Nur Yasmin
Kremlin spokesman Dmitry Peskov was quoted as saying on Thursday that the goals of Moscow's "special military operation" in Ukraine were unchanged, but that they could be achieved through negotiations.
The comments to the Russian newspaper Izvestia were the latest in a series of statements this week stressing Moscow's openness to talks - a change of tone that follows a run of humiliating defeats for Russian forces as the war in Ukraine nears the end of its eighth month.
"The direction has not changed, the special military operation continues, it continues in order for us to achieve our goals," Peskov was quoted as saying. "However, we have repeatedly reiterated that we remain open to negotiations to achieve our objectives."
Peskov added, however, that he did not see any prospects for talks with the West in the near future because of its "hostile" attitude towards Russia.
"It takes two sides to have a dialogue. As the West is now taking a very, very hostile stance towards us, it's unlikely that there will be any such prospect in the near future," - Peskov told Kazakhstan's Khabar 24 TV channel, according to the Russian news agency TASS.
"Nevertheless, Turkey, as well as a number of other countries, continue to try to mediate in some way."
While Russia has said before that it is prepared to negotiate, the repeated references this week to the possibility of dialogue are striking.
Foreign Minister Sergei Lavrov said on Tuesday that Moscow was open to talks with the West, but the United States dismissed the statement as "posturing".
Lavrov returned to the issue on Thursday, telling Izvestia: "We won't run after anyone. If there are specific serious proposals, we're ready to consider them."
He added: "When we get some sort of signal, we will be ready to consider it."
Ukrainian President Volodymyr Zelenskiy has ruled out talking to President Vladimir Putin after Russia proclaimed the annexation of four Ukrainian regions last month and rained missiles on Ukrainian cities this week in the wake of an attack on a vital bridge between Russia and annexed Crimea. (Reuters)
October
Solomon Island police officers head to China for training
Written by Nur Yasmin
A group of 32 police officers from the South Pacific nation of Solomon Islands has flown to China to train in policing techniques and improve their understanding of Chinese culture, the Royal Solomon Islands Police Force said in a statement.
China has provided public order management training to police in the Solomon Islands since the two countries signed a security pact in April, an agreement that alarmed the United States and its allies including Australia, which traditionally provided policing support.
The 32 officers would visit different police stations in China during their month-long visit, the force said in the statement.
At a White House summit with Pacific island leaders last month, the United States, seeking to counter China's rising influence in the strategically important region, said it would send FBI law enforcement trainers to the Solomon Islands this year.
Solomon Islands Prime Minister Manasseh Sogavare has previously told Australia it remained the nation's security partner of choice and denied the pact with China would allow it to set up a military base.
Australian police quelled anti-government riots in Honiara, the Solomon Islands capital, in November. China says its security pact will allow Chinese police to protect Chinese projects and personnel.
Chinese construction and telecommunications companies have struck multi-million dollars deals for Solomon Islands infrastructure projects. (Reuters)
October
Myanmar court jails Suu Kyi for three years for graft - source
Written by Nur Yasmin
A court in military-ruled Myanmar on Wednesday sentenced deposed leader Aung San Suu Kyi to three years in prison on charges of accepting a bribe, a source with knowledge of the matter said.
The 77-year-old Nobel laureate, a figurehead of opposition to military rule, faces charges for at least 18 offences ranging from graft to election violations, carrying combined maximum terms of nearly 190 years.
Suu Kyi has called the accusations against her absurd and denied any wrongdoing. She is being held in solitary confinement in the capital, Naypyitaw, and her trials have been conducted in closed courts.
The latest charges were related to allegations Suu Kyi accepted bribes from a businessman, said the source, who declined to be identified due to the sensitivity of the issue.
Suu Kyi received three-year jail sentences on two charges, to be served concurrently.
Opponents of the military say the charges against Suu Kyi are aimed at blocking her from ever getting involved in politics again or trying to challenge the military's grip on power since last year's coup.
A junta spokesperson did not answer calls seeking comment on Wednesday. The junta insists Myanmar's courts are independent and those arrested are receiving due process. (Reuters)