Japan approves energy firms' household power price hike
Reuters
23-05-16 09:30
Japan's government has approved an increase in household electricity rates made by seven major utilities, which range from 14% to 42% to reflect higher fuel costs. The hikes will put strain on the world's third-biggest economy, and are expected to squeeze the loss-making sector between high global fuel prices and Tokyo's green goals. The increases, which were due last August, took several months to examine due to the government's bid to ease the high inflation burden on consumers.
A conversation on Allied Burden Sharing in Ukraine, between the CSIS Project on Prosperity and Development and the CSIS Europe, Russia, and Eurasia Program, has discussed the role of European partners in supporting Ukraine. While the US is the world's largest financier of foreign aid and military assistance for Ukraine, the country's European partners are contributing similar amounts on a per capita basis, with the US ranking tenth overall. European burden-sharing has also been substantial on energy and trade, with the continent suffering from vulnerability to global market dynamics and reductions in energy consumption, and potential trade disruption in areas such as food. To ensure Ukraine emerges victorious, the US and Europe will need to collectively carry these burdens.
A conversation on Allied Burden Sharing in Ukraine, between the CSIS Project on Prosperity and Development and the CSIS Europe, Russia, and Eurasia Program, has discussed the role of European partners in supporting Ukraine. While the US is the world's largest financier of foreign aid and military assistance for Ukraine, the country's European partners are contributing similar amounts on a per capita basis, with the US ranking tenth overall. European burden-sharing has also been substantial on energy and trade, with the continent suffering from vulnerability to global market dynamics and reductions in energy consumption, and potential trade disruption in areas such as food. To ensure Ukraine emerges victorious, the US and Europe will need to collectively carry these burdens.
A conversation on Allied Burden Sharing in Ukraine, between the CSIS Project on Prosperity and Development and the CSIS Europe, Russia, and Eurasia Program, has discussed the role of European partners in supporting Ukraine. While the US is the world's largest financier of foreign aid and military assistance for Ukraine, the country's European partners are contributing similar amounts on a per capita basis, with the US ranking tenth overall. European burden-sharing has also been substantial on energy and trade, with the continent suffering from vulnerability to global market dynamics and reductions in energy consumption, and potential trade disruption in areas such as food. To ensure Ukraine emerges victorious, the US and Europe will need to collectively carry these burdens.
China is looking to Central Asia for a new energy partner source to offset growing tensions between it and the US-led West. Leaders from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan join President Xi in China, where the main focus will be the joint projects between the nations aimed at pushing forward cooperation in other areas from the economy to security and politics. Beside abundant reserves of traditional fossil fuels, there is huge untapped hydropower potential in Tajikistan and Kyrgyzstan. Piped natural gas from Central Asia to China is traditionally considered to be more secure and cheaper than other countries, especially the US. Central Asia supplied over two-thirds of China's pipeline gas imports in 2017, with the bulk of it coming from Turkmenistan, which has the world's fourth-largest gas reserves after Qatar, Iran and Russia.
US President Joe Biden is expected to emphasise unity and Washington's dedication to the Asia-Pacific during his planned trip for the G7 Summit in Japan whilst navigating a delicate balance between countering China's economic coercion and avoiding further division among US allies. Biden also seeks to build a "little Nato" in Asia to contain Russia and China. While the G7 is expected to outline proposals on countering China's "economic coercion", it is important to not inflame nationalistic tendencies or put smaller countries in a difficult position where they become the target of coercive activities. The trick, according to experts, is to build more robust trade agreements, maritime security measures, and reinforcing supply chains rather than setting up divisions. China carried out 73 incidents of economic coercion aimed at 19 countries between 2020 and 2022, including trade sanctions, investment restrictions, tourism bans and popular boycotts.
UK businesses could benefit from hiring overseas workers as labour shortages continue to impact industries such as agriculture and hospitality, according to British Chambers of Commerce Director-General Shevaun Haviland. The government should adopt a “shortage occupation list” to secure the necessary labour, she suggested. Social care, fruit picking and meat processing also face labour shortages and the National Farmers' Union has called for a rolling five-year worker scheme to address the absence of seasonal workers on British farms.
A Group of Seven summit is expected to face significant tensions on the issue of nuclear disarmament. Many atomic bomb survivors in Hiroshima fear that the summit may be the last time that world leaders will call for disarmament. For those in the West, Russia's invasion of Ukraine has reminded them of the important role played by nuclear deterrence. The summit is also expected to discuss ways of curbing nuclear programmes in Iran and North Korea. Barack Obama, the last US President to visit Hiroshima, chose the city as an opportunity to express his hope for a world without nuclear weapons.
A conversation on Allied Burden Sharing in Ukraine, between the CSIS Project on Prosperity and Development and the CSIS Europe, Russia, and Eurasia Program, has discussed the role of European partners in supporting Ukraine. While the US is the world's largest financier of foreign aid and military assistance for Ukraine, the country's European partners are contributing similar amounts on a per capita basis, with the US ranking tenth overall. European burden-sharing has also been substantial on energy and trade, with the continent suffering from vulnerability to global market dynamics and reductions in energy consumption, and potential trade disruption in areas such as food. To ensure Ukraine emerges victorious, the US and Europe will need to collectively carry these burdens.
China has developed "watchdog" technology to limit the use of its drones in military attacks on its territory. According to a source, all Chinese combat and reconnaissance UAVs have been constructed to recognise an "electric geofence" around China. This means that the drones automatically stop flying or launching weapons when nearing Chinese borders. The technology is included in the implantable components of the UAVs and is declared in developers' instruction books. China, which is now the world leader in drone development after the US, is said to have delivered 220 drones to 16 countries over the past decade.
Zambia raises key interest rate to 9.5% to tame inflation
Reuters
23-05-17 09:52
The Bank of Zambia has increased its key interest rate by 25 basis points from 9% to 9.5% due to high inflation in the copper-rich country. The bank said that inflation was expected to remain above the 6%-8% target band until the last quarter of next year. Zambia was the first African country to default on its sovereign debt during COVID-19 and has struggled to agree a relief deal with its external creditors. It secured a $3bn IMF funding last August. The central bank warned that further delays in external debt restructuring negotiations and tighter global financial conditions could pose risks to the inflation outlook.
The Council of Europe (CoE) has approved a “Register of Damage” to identify financial compensation owed for damage in Ukraine caused by Russian forces. Marija Pejcinovic Buric, Council head, called the register an “urgent, necessary, first step.” The US, Canada, and Japan, as well as over 40 countries, backed the register. German Chancellor Olaf Scholz said it would be important in punishing “war crimes of Russian occupiers” while supporting potential future legal proceedings. The Dutch Prime Minister Mark Rutte and the British Prime Minister Rishi Sunak also pledged to provide a coalition giving Ukraine combat air capabilities.
An opinion poll of 1,100 people in Kazakhstan has shown that 15% now believe that neighboring Russia may invade, double the percentage that held this view 6 months ago, a result of the ongoing war in Ukraine. Kazakhstan shares its longest continuous border with Russia, and has maintained neutrality in the Ukrainian conflict, though remains close in historical, economic and security ties with Moscow.
Ukrainian air defences using US-made Patriot interceptors neutralised a heavy Russian missile attack against Kyiv, with six KH-47M2 Kinzhal air-launched missiles reported to have been stopped by Patriots. However, the Kinzhal missiles are modified air-launched versions of the ground-launched Iskander short-range ballistic missile developed three decades ago, and do not incur the additional hypersonic boost-glide system of manoeuvrable hypersonic descent hypersonic weapons that can be fired atop booster rockets, making them harder to intercept. Therefore, while Patriots can indeed stop Kinzhal missiles, they cannot necessarily intercept swerving-and-jinking weapons. Additionally, Russia has been developing an Avangard hypersonic glide vehicle, deployed on Russian ICBMs, capable of descending at Mach 20 and outpacing any interceptors. China is also said to be developing similar weapons.
The Chinese embassy in London has warned that Britain risks "serious consequences" after former PM Liz Truss's high-profile visit to Taiwan. Truss is the first former British leader to visit the island since Margaret Thatcher in 1996. Truss urged the UK to use “hard power” to deter China and to "get real" about military cooperation with Taiwan. Beijing called it a “dangerous political show”. Britain amended its foreign and defence policy in March to describe China as a “epoch-defining challenge”.
A conversation on Allied Burden Sharing in Ukraine, between the CSIS Project on Prosperity and Development and the CSIS Europe, Russia, and Eurasia Program, has discussed the role of European partners in supporting Ukraine. While the US is the world's largest financier of foreign aid and military assistance for Ukraine, the country's European partners are contributing similar amounts on a per capita basis, with the US ranking tenth overall. European burden-sharing has also been substantial on energy and trade, with the continent suffering from vulnerability to global market dynamics and reductions in energy consumption, and potential trade disruption in areas such as food. To ensure Ukraine emerges victorious, the US and Europe will need to collectively carry these burdens.
Activist jailed for 7 years in Russia for "justifying terrorism"
Reuters
23-05-17 13:53
A Ukrainian-born activist, Mikhail Krieger, has been sentenced to seven years in prison by a Russian court. He was found guilty of "justifying terrorism" in social media posts made last year praising two men who attacked buildings of Russia's Federal Security Service. Prosecutors accused him of "inciting hatred" in statements on social media that President Vladimir Putin should be hanged. Krieger denied the charges and used the trial as an opportunity to speak out against the war in Ukraine. Russian rights groups have designated him a political prisoner.
The European Union’s head of enlargement, Oliver Varhelyi, has cautioned Bosnia-Herzegovina that EU allies should not visit Russia, leading to speculation that the Balkans nation’s application to join the EU could be in jeopardy. Bosnia-Herzegovina was granted candidate status in December, in part due to concerns that the Ukraine conflict could have destabilising effects in the Balkans. However, there is no unified stance on foreign policy within the country, with Serb nationalist leader Milorad Dodik maintaining close relations with President Vladimir Putin of Russia.
Britain has said it will support all countries that want to send F-16 jets to Ukraine, subject to US approval for the transfer of the military technology. It is part of the effort to set up an international coalition with the Dutch and other nations to come to the aid of Ukraine in its conflict with Russia. It was announced amid a web of diplomatic efforts over the invasion of Ukraine, including the extension of a deal with Turkey that would allow the country to export millions of tonnes of grain through the Black Sea, which would otherwise be blocked by Russian warships. China has also sent peace envoys to mediate talks in Russia, Poland, France, and Germany about the conflict.
An international deal for Ukraine to continue exporting agricultural products including grain to other markets via the Black Sea, known as the Black Sea Grain Initiative, has been extended by two months. Russia has demanded that the Russian Agricultural Bank be readmitted to the international transfer system, SWIFT and has called for the resumption of supplies of agricultural machinery and the lifting of restrictions on insurance and access to ports for Russian ships and cargo. Although there were no specific sanctions on Russian agricultural exports, William Moseley of Macalester College noted that any failure to renew the deal would hurt Russia's ability to cultivate friends in the Middle East and Africa.
