Uganda’s President Yoweri Museveni has signed into law one of the world’s toughest anti-LGBTQ pieces of legislation, which includes the death penalty for “aggravated homosexuality”, drawing criticism from Western governments and risking sanctions from aid donors. Same-sex relations were already illegal in Uganda, but the new law further criminalises these relationships, including a capital punishment for “serial offenders”, as well as the transmission of a terminal illness such as HIV/AIDS through gay sex, and a 20-year sentence for “promoting” homosexuality.
Tesla CEO, Elon Musk, is set to visit China for the first time in three years and will meet with senior Chinese officials and visit the company's Shanghai factory. Musk is expected to meet Premier Li Qiang to discuss Tesla's full self-driving technology, which it is hoping to introduce to the market. Tesla's factory in Shanghai accounted for over half of its global production in 2022, and the facility can now produce as many as 1.1 million cars annually.
China has sent three astronauts, including a civilian, to its Tiangong space station, marking the fifth manned mission to China's space station since 2021. The Tiangong space station is key to China's "space dream" and was meant to be developed after the US barred NASA from engaging with China. This launch is also the first time China has sent a civilian into orbit. Gui Haichao will be serving as the payload specialist on the mission and will manage experiments at Tiangong space station. China is also expected to send another crewed mission to the space outpost this year.
North Korea will launch its first military reconnaissance satellite in June in order to monitor US movements, according to state-run news agency KCNA. Vice-chairman of North Korea's Central Military Commission, Ri Pyong Chol, stated that space-based monitoring was necessary to shield against what he called "reckless" military exercises conducted between the US and South Korea. Pyongyang recently informed Japan’s coast guard of its upcoming launch which is expected to take place between 31 May and 11 June, warning of possible disruption to sea traffic in areas including the Yellow Sea, East China Sea and east of the Philippines’ Luzon Island.
Dozens of NATO soldier have been deployed to the town of Zvecan in Kosovo after 30 NATO soldiers in the region were left injured in a clash with 52 Serb protestors. Some ethnic Serbs are believed to have gathered outside a municipal building that has been secured, although the situation is reported to be calm. The previous day, Serb protestors had thrown tear gas and stun grenades at NATO soldiers stationed in Zvecan. The NATO force, KFOR, has not responded to the violence. The reasons behind the violence are being debated, with both sides blaming the other.
Elon Musk, CEO of Tesla, has arrived in Beijing from the US, according to a Reuters witness. Musk is expected to meet with Chinese government officials and visit the company's Shanghai plant, the largest production hub for its electric vehicles, during his first visit to the country in three years. Tesla declined to comment on the reports.
Moscow experienced its first drone attack since the start of the Ukrainian conflict. Drones targeted various civilian buildings throughout the Russian capital and surrounding region, in an attack presumed to have been orchestrated by Ukraine. Russian President Vladimir Putin, however, is alleging terrorist involvement. Two people sought medical assistance after the attack, but no one sustained any serious injuries. The incident came after Russia launched a third attack on Kiev in just 24 hours, which left one person dead and eleven injured. Kiev believes Ukraine has every right to defend itself, including the right to attack targets beyond its own borders.
The attack comes amid escalating hostilities, with the Kremlin blaming Ukraine for the drone attacks. The UN Security Council is expected to hold an emergency summit in the near future to discuss the ongoing violence. Meanwhile, the US and France have also blamed Russia for the drone strikes, whilst the UK supports Ukraine’s right to defend itself. Speaking at a press conference in Estonia, UK Foreign Secretary James Cleverly said that Ukraine has a “legitimate right to defend itself” within its borders and also beyond them. The Kremlin is continuing to strengthen its military presence in the area, deploying bomber, fighter and transport planes and helicopters, along with warships, tanks and artillery units.
US stocks remained subdued as investors continued to monitor discussions on US debt ceiling negotiations ahead of a meeting between US President Joe Biden and House speaker Kevin McCarthy later in the day. The S&P 500 closed flat while the Nasdaq Composite added 0.5%. Both indices lost ground in the previous session following a pause in negotiations by US policymakers over a debt ceiling deal, raising concerns they will fail to reach a compromise and trigger a default ahead of the early-June deadline. Stock markets in Europe were mixed as the eurozone’s consumer confidence index came in lower than forecast at -17.4 in May.
Spain's inflation rates dropped to 2.9%, the lowest in nearly two years, which boosted hopes among economists that inflation across the Eurozone might soon ease. The European Central Bank may benefit from this decrease, with inflation data expected to show a rapid deceleration in inflation across the region. After stripping out energy and unprocessed food, inflation in Spain fell from 6.6% to 6.1%. Spain's ruling Socialist party attributed this to its government energy policies, but this failed to resonate with voters, leading to the party losing control of much of the country in regional elections.
The recent launch of a satellite by North Korea triggered an unusual mobile alert and evacuation procedure for residents of South Korea and Japan. The missile launching became a violation of the UN Security Council resolutions, which bans North Korea from using ballistic technology. Reports suggest the scale of the alert based on a potential missile attack reflects the anxiety felt by South Korea’s nine million citizens. Businesses and schools were forced to close and seek shelter. Mobile alerts were issued warning of a potential attack while the government’s siren system was also activated. South Korea, is reported to be developing low-grade intelligence weaponry to manage the ever-increasing threat from their Northern neighbour.
BOJ may hike rates if sustained wage growth looks likely-government panellist
Reuters
23-05-31 00:41
The Bank of Japan (BOJ) may raise short-term interest rates early next year due to the possibility of sustained wage growth, according to economist Tsutomu Watanabe who had a key role in a government panel on economic policy. Inflation will likely continue to rise as organizations become more confident they can charge higher prices, Watanabe said, adding that Japan is experiencing the beginnings of long-term, domestic inflation. The prediction differs from that of the BOJ's view that inflation will drop back below 2% after past import price rises cease to be effective, thereby making it necessary to maintain ultra-loose policy.
India’s economy is expected to have grown by 5% YoY during the January-March quarter, up from 4.4% in the previous quarter, helped by both government spending and robust service sector performance. Food prices and falling oil prices also aided demand. However, this economic acceleration comes with warnings from the Reserve Bank of India that the country could face economic headwinds in the form of slowing global growth and political tensions.
Child migrants crossing Darien Gap surge eightfold -UNICEF
Reuters
23-05-30 23:46
The number of child migrants crossing the dangerous jungle between Colombia and Panama has increased eight-fold in the first four months of 2021, according to the United Nations Children's Fund (UNICEF). Many minors are arriving in Panama unaccompanied by adults after the trek through the Darien Gap, which is home to roving bands of criminals. As a result, UNICEF has called for greater protection for the minors, who are often escaping violence in Colombia and Venezuela. A record 25,431 young people entered Panama from January to April this year with an average of around eight to 10 minors arriving each day.
Enel SpA CEO Flavio Cattaneo is contemplating changing the company's top management. Chief Financial Officer Alberto De Paoli, who has been with the company for a decade, is the leading candidate to be moved. Stefano De Angelis is reportedly being considered for the post of CFO, with De Paoli likely to stay with the company as an executive.
China’s Geely is considering entering Thailand’s EV market, and is currently assessing both imported models and local manufacturing types, including an electric mode pickup truck, according to industry insiders familiar with its plans. Thailand’s Board of Investment has already spoken to Geely as well as four other major Chinese EV manufacturers in April during a roadshow. The others are even more interested in Thailand’s policy of developing home EV production and supply chains. Thailand has set a 30% goal to convert its annual production of 2.5 million vehicles into EVs by 2030.
Credit Suisse has abandoned plans to set up a locally incorporated bank in China to avoid potential regulatory conflicts from its merger with the UBS Group. Credit Suisse planned to set up a wholly-owned local bank in China to boost its presence in the country with a branch network to draw deposits and expand its onshore wealth management business. Credit Suisse's decision to abandon and cancel its China local bank plan could be a precursor to similar moves it and UBS make on other businesses where they both have operating units.
Nepal PM Dahal to seek energy, new air route deals on India visit
Reuters
23-05-31 05:52
Nepal's Prime Minister Pushpa Kamal Dahal wants to establish long-term deals to export hydroelectric power and open up new air routes between India and Nepal, during a visit to New Delhi. Nepal has the potential to generate 42,000 MW of hydroelectric power, and plans to generate around 3,500 MW by next year, with the excess energy exported to India. During the meeting, Dahal will ask India to open three more points along their border for airlines to enter and exit Nepal's airspace, helping boost air traffic to two new international airports. The visit underlines the strong ties between the two nations.
Former President Donald Trump's legal team is said to be fearing disloyalty as the probe into whether he or his advisers broke the law in their retention of documents, including some potentially classified material from the White House, nears its end. The Daily Beast reported on Tuesday that attorneys representing the former president are worried that some among them may decide to testify against Trump, becoming witnesses against him in the case as the attention of the agency turns to the actions of the legal team itself. The investigation into Trump's handling of presidential records, including classified documents, came to public attention last year when FBI agents raided his home and resort in Florida. Meanwhile, President Joe Biden laughed off the notion of considering a pardon for the former president after Florida Governor Ron DeSantis announced his 2024 campaign for the presidency, saying that Trump has too many issues to consider.
Drones hit several buildings in Moscow, including residential areas, in an apparent retaliatory attack following Russian air strikes on Kyiv overnight for the third time in 24 hours. The drone hit marked the first such attack on the Russian capital as Russia’s escalating war with Ukraine enters a new, and more alarming, phase. The Russian President has accused Ukraine of “terrorist activity” and attempting “to intimidate Russia, Russian citizens and attacks on residential buildings”. Two people sought medical assistance following the drone raid on the Russian capital, but none were seriously injured, mayor Sergei Sobyanin said. Russian air strikes on Monday reportedly killed one person and injured 11. Moscow blamed Ukraine for that attack, saying its forces carried out strikes on Ukrainian “decision-making centres” in Ukraine.
Russia has been urged to commit to safeguarding the Zaporizhzhia nuclear power plant in Ukraine, which has been occupied by Russia for more than a year. The International Atomic Energy Agency has suggested that there is no official agreement in place to safeguard the power plant. The situation at Zaporizhzhia is “extremely fragile and dangerous,” the agency’s director said. The director has tried to craft an agreement to reduce the risk of a catastrophic nuclear accident from military activity like shelling at Europe’s biggest nuclear power plant. Russia, however, sent a letter to the United Nations Security Council earlier this month saying that transport of nuclear products and events at nuclear energy facilities in eastern Ukraine created a dangerous situation requiring attention from the international community.
Moscow-installed officials in Luhansk have reported five people have been killed and 19 wounded after Ukrainian forces used U.S.-made HIMARS rocket launchers to attack a farm in Karpaty village. There was no immediate response from Ukraine. Russian artillery shells smashed windows and damaged roofs of an eight-storey apartment building, four homes and a school in Shebekino, damaging vehicles and injuring two people. Southern Russia also saw a drone likely cause a fire that broke out at the Afipsky oil refinery. The drone war continues to ignite as a stalemate endures on the ground with Russian forces entrenched along an extended line in Ukraine’s east and south.
