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May
Russia expects trade with China to reach US$200 billion by 2024: Report
Written by nuke
Men move bags of goods for export in front of a trading centre that houses shops and offices with Russian goods and services, in Beijing, China Apr 1, 2022. (File photo: Reuters/Tingshu Wang) -
Russia said on Saturday (Apr 30) it expected commodity flows with China to grow and trade with Beijing to reach US$200 billion by 2024, as Moscow faces mounting isolation from the West.
China has refused to condemn Russia's actions in Ukraine and has criticised the unprecedented Western sanctions on Moscow. The two countries have bolstered ties in recent years, including announcing a "no limits" partnership in February.
"We are focused on achieving the goal set by the heads of state to bring bilateral trade turnover to US$200 billion by 2024," Georgiy Zinoviev, head of the Russian foreign ministry's first Asia department, told the Interfax news agency.
"Moreover, we suggest that reaching this ambitious figure earlier than planned is quite possible."
With Russian trade buffeted by sanctions, Zinoviev said time was needed to adapt. He said China's struggle with COVID-19 in recent weeks was also a factor that could complicate efforts.
"Chinese business remains interested in expanding its presence in Russia, for whom additional opportunities are opening up given the departure of some Western companies," Zinoviev said.
He acknowledged the risk of secondary action that Chinese companies could face if they help Russia circumvent sanctions, but said that a significant increase in cooperation was likely nonetheless.
"It is clear that in the current situation many Chinese economic operators have to exercise caution, given the likelihood of secondary sanctions," said Zinoviev.
"I am convinced our partners and us will be able to use the current situation to our common interests and fully unlock the potential for a significant increase in cooperation in all areas."//CNA
May
Angelina Jolie visits Lviv in Ukraine, meets people displaced by war
Written by nuke
American actress Angelina Jolie, a UNHCR special envoy, poses for a picture with children in Lviv on Apr 30, 2022, as Russia's attack on Ukraine continues. (Photo: Reuters/Press Service of the Lviv Regional State Administration handout) -
Hollywood actress Angelina Jolie visited the Ukrainian city of Lviv on Saturday (Apr 30), popping into a bakery and going to the railway station to meet some of the people displaced by the war with Russia.
Jolie, 46, is a special envoy for the United Nations' refugee agency, which says that more than 12.7 million people have fled their homes in the past two months, which represents around 30 per cent of Ukraine's pre-war population.
During the visit to the station, Jolie met volunteers working with the displaced, who told her that each of the psychiatrists on duty spoke to about 15 people a day. Many of those in the station are children aged between two and 10, according to volunteers.
"They must be in shock ... I know how trauma affects children, I know just having somebody show how much they matter, how much their voices matter, I know how healing that is for them," she said in reply.
At one point during her visit to the station, she tickled a small girl dressed in red, who laughed out in delight. She also posed for photos with the volunteers and some of the children.
Last month, in her role as special envoy, Jolie visited Yemen, where millions of people have been displaced by war//CNA
May
FILE PHOTO: People use ATM's inside the Bank of China head office building in Beijing, China March 30, 2016. REUTERS/Damir Sagolj/File Photo -
Bank of China Ltd (BoC), the country's fourth largest bank by assets, posted on Saturday a rise of 7 per cent in first-quarter net profit as the economy recovers from the coronavirus pandemic.
BoC, which has the largest global network among Chinese lenders, said net profit for the first three months of 2021 grew to 57.8 billion yuan ($8.75 billion) from 54 billion a year earlier//CNA
April
Sri Lanka teachers, bank workers join mass walkout over economic crisis
Written by Nur Yasmin
Many schools in Colombo were shut and several train stations deserted on Thursday as teachers and train drivers joined mass walkouts demanding President Gotabaya Rajapaksa's government quit over Sri Lanka's worst financial crisis in decades.
Hundreds of employees from Sri Lankan state-run banks, most wearing black and carrying black flags, also joined other bank trade unions in a protest march to the president’s office as thousands of people took to the streets around the country.
The pandemic, rising oil prices, populist tax cuts and rapidly dwindling foreign currency reserves have left Sri Lanka without enough dollars to pay for vital imports of fuel, food and medicine. Sometimes violent street demonstrations have erupted this month as shortages and power cuts became acute.
"This government has ruined our country. Costs are increasing every day, businesses are closing, and people have no way to live. There is no fuel, when we go home there is no electricity and no cooking gas to make meals," said Samanthi Ekanayake, 34 who works as a teller at a state-run bank.
"We are tired of broken promises."
The country's trade union leaders have threatened an ongoing strike from May 6 if the president and the government do not resign.
Rajapaksa this week reiterated his willingness to form an interim government with a new prime minister and cabinet. However, Prime Minister Mahinda Rajapaksa, who is his elder brother, has declined to step down and insisted he continues to have a majority in the 225-member parliament.
Meanwhile, two Opposition parties, the Samagi Jana Balawegaya (SJB) and the Tamil National Alliance (TNA) have started the process to bring no-confidence motions against the president and prime minister in parliament.
"Political instability will only make it more difficult to provide solutions to the financial crisis. So it is imperative a strong government with a clear majority is established in parliament and the government is working towards this goal," Cabinet spokesman Nalaka Godahewa said. (Reuters)
April
Indian heat wave disrupts industrial activity as power demand soars
Written by Nur Yasmin
India's northwestern Rajasthan state scheduled four hours of power cuts for factories, making it at least the third state to disrupt industrial activity to manage surging power demand amid an intense heat wave.
Extreme heat continued to scorch large swathes of south Asia this week, offering no reprieve after the hottest March on record in India, and triggering comments from Prime Minister Narendra Modi on India getting too hot too early.
India's western Gujarat state and Andhra Pradesh restricted industrial activity this month as air conditioning demand peaked and economic activity picked up following an end to coronavirus-related restrictions.
The desert state of Rajasthan also imposed four-hour power cuts for rural regions, exposing thousands of families in the desert state to extreme temperatures, with peak summer heat still to come before cooling monsoon rains arrive in June.
Maximum power demand in India surged to a record high on Tuesday, and is seen rising by as much as a tenth next month. The India Meteorological Department has warned of worse heatwave conditions in the coming days.
The unprecendented heat puts millions of blue-collar workers, including construction and farm labourers and those working on factory shop floors, at great risk. Sunstrokes have claimed thousands of Indian lives in the past.
Industrial disruption and widespread power cuts are also bad news for corporate India, as economic activity has just started to pick up after months of stagnation amid coronavirus lockdowns.
A rapid rise in power demand has also left India scrambling for coal, the dominant fuel used in electricity generation. Coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in nearly four decades.
A train shortage is exacerbating the crisis, with India's power secretary telling a court-ordained meeting this week that train availability was 6% lower than required. (Reuters)
April
Facing international criticism, Singapore defends Malaysian's execution
Written by Nur Yasmin
Singapore authorities late on Wednesday defended a decision to execute a Malaysian drug trafficker, in response to international criticism over their use of the death penalty.
Nagaenthran Dharmalingam, 34, had been convicted of smuggling at least 42 grams (1.48 oz) of heroin into Singapore, which has among the world's harshest narcotics laws. He was hanged on Wednesday morning, after multiple legal challenges and appeals for clemency on the grounds that he had an intellectual disability, failed.
His lawyers and activists have said Nagaenthran's IQ was found to be 69, a level recognised as an intellectual disability.
But Singapore's Central Narcotics Bureau said in a statement his actions were "a deliberate, purposeful and calculated decision", and reiterated court findings that "he knew what he was doing".
The Attorney General's Chambers said in a separate statement Nagaenthran was given a fair trial and had "exhausted his rights of appeal and almost every other recourse under the law over some 11 years".
The case attracted international attention, with a group of United Nations experts and British billionaire Richard Branson joining human rights activists to urge Singapore to commute his death sentence.
The European Union and Amnesty International were also among several voices that called the punishment "inhumane" and urged Singapore to impose a moratorium on executions.
The city-state's government says the death penalty is a deterrent against drug trafficking and most of its citizens support capital punishment.
Another Malaysian drug trafficker, Datchinamurthy Kataiah, is due to be executed on Friday. (Reuters)
April
WHO donors reach preliminary deal on budget overhaul - sources
Written by Nur Yasmin
World Health Organization members agreed this week to gradually raise their mandatory fees starting from 2024, three sources following the talks told Reuters on Thursday, as part of a funding review seen as vital to the U.N. health agency's future.
Reforming the 74-year old agency's funding model is a priority for Director-General Tedros Adhanom Ghebreyesus as he aims to remodel it to respond to the growing risk of more pandemics. Currently, the body relies heavily on voluntary contributions from governments and private donors which are often earmarked for specific programmes, leaving it with insufficient flexibility.
"There's a basic agreement and there is a timeline and conditions," said one of the sources. "It's a very good day for global health," he added.
The agreement is in the form of a recommendation and still needs to be given formal approval by governments at the World Health Assembly next month.
The WHO did not immediately respond to an emailed request for comment.
The compromise reached late on Wednesday envisages mandatory fees reaching 50 % of the budget by the 2028-2029, or possibly 2030-31. The funding reforms have been discussed over the past year and a half and the compromise deal, which is contingent on certain conditions, was watered down from earlier proposals due to opposition from some member states. (Reuters)
April
Hungary says 'no obstacles' to signing agreement on EU recovery funds
Written by Nur Yasmin
Hungary sees no obstacles to signing an agreement with Brussels about the release of EU recovery funds to Hungary, Prime Minister Viktor Orban's chief of staff said on Thursday.
The European Commission has been withholding its approval to pay out recovery money to Poland and Hungary because the two countries have yet to address EU recommendations on the rule of law.
The EU's executive also sent a formal letter to Hungary on Wednesday, officials said, the first step in a fresh offensive to safeguard democratic checks and balances that could freeze funds for Prime Minister Viktor Orban over corruption risks. read more
Orban's chief of staff Gergely Gulyas told a briefing the government studied the letter, and he was optimistic about an agreement on the release of recovery funds.
"We have studied the Commission's letter, there is no obstacle to signing the agreement on the recovery fund, as the issues raised in the letter are all issues that we have been negotiating about for months with the Commission," Gulyas told a briefing.
"There is no point where we don't have a shared position, or where we wouldn't have found an acceptable solution."
The European Commission did not immediately respond to a request for comment.
Gulyas said Hungary agreed with an EU proposal to reduce the share of public procurement tenders with a single bidder, and was ready to reduce the share of these contracts below 15%.
"There are also expectations with regard to abuses with EU funds and we have found a solution here as well, which could be sufficient for the Commission," he added as another example.
"I think the common will is there (to sign an agreement), we hope the courage is there as well."
Senior EU officials said the case launched on Wednesday focused on systemic faults in Hungary's public procurement that failed to prevent single bidding, conflict of interests and the risk of corruption.
"Serious concern" about the functioning of Hungarian authorities managing EU funds and controlling how Orban's government spends the money was aggravated by limitations on effective investigation and independent prosecution, they said.
Hungary had irregularities in nearly 4% of its spending of EU funds in 2015-2019, according to the bloc's anti-fraud office OLAF, compared to an EU average of 0.36%. (Reuters)
April
Shanghai's focus shifts to vaccination of elderly as new cases decline
Written by Nur Yasmin
The COVID-hit city of Shanghai is making more resources available to improve vaccination rates among the elderly as daily case numbers decline and it looks for a way out of four weeks of stringent lockdown restrictions.
The city, battling China's biggest ever coronavirus outbreak, saw new asymptomatic cases fall to 9,330 on April 27, down 22% from a day earlier and its lowest rate in 24 days, with symptomatic infections also down by almost a fifth.
With the outbreak still at a critical stage, every district in Shanghai is now coordinating "prevention and control" work with a vaccination drive focusing on elderly people, said Zhao Dandan, the deputy director of the municipal health commission.
"On the condition that epidemic risks are controlled, and with the elderly as the focal point, we are actively promoting COVID-19 vaccinations," he told a briefing on Thursday. He said districts were now arranging community vaccination vehicles and setting up temporary vaccination stations in care homes.
Though the more infectious Omicron variant is less virulent than its predecessors, Chinese medical experts have justified the country's heavy-handed "dynamic zero" response by pointing out that thousands of people could still die if it spreads into its vulnerable elderly population.
The 47 people reported to have died from COVID-19 in Shanghai on April 27 had an average age of 84.7 years. Of the city's 285 COVID-related fatalities this year, the vast majority have been elderly, with many unvaccinated and suffering from underlying health conditions.
Zhao told the briefing that 3.6 million residents aged 60 or over had received a full vaccination so far, amounting to 62% of the city's total population in that age bracket. He said 38% of the over sixties had also received a booster jab.
The number of infections outside of quarantined areas in Shanghai reached 192 on April 27, up from 171 the previous day. The city aims to bring the number down to zero.
Zhao said on Wednesday that those areas that had stamped out infections outside of the quarantine zones would be allowed to relax restrictions. (Reuters)
April
Germany's Scholz says Putin clinging to idea of 'forced peace' in Ukraine
Written by Nur Yasmin
Chancellor Olaf Scholz said a strong German military was necessary as a deterrent against a Russian attack and criticized Russian President Vladimir Putin for clinging to the idea of a "forced peace" in Ukraine, which he said would not work.
Scholz, speaking in Tokyo on Thursday, said Germany was looking to create closer ties with countries that share its values, naming Japan and India, among others.
Deglobalisation should not become an excuse for protectionism, he said, adding that global trade should continue to be free and fair. (Reuters)