World

India’s appeasement policy toward China unravels
World

India’s appeasement policy toward China unravels

Indian Prime Minister Narendra Modi is “not in a good mood,” U.S. President Donald Trump recently declared, as he offered to mediate India’s resurgent border conflict with China. After years of bending over backward to appease China, Modi has received yet another Chinese encroachment on Indian territory. Will this be enough to persuade him to change his approach? While India was preoccupied with the COVID-19 crisis, China was apparently planning its next attempt to change the region’s territorial status quo by force. Last month’s swift and well-coordinated incursions by People’s Liberation Army troops into the icy borderlands of India’s Ladakh region were likely the product of months of preparation. The PLA has now established heavily fortified camps in the areas it infiltrated, in additi...
Stocks wobble as investors assess risks of second wave
China, World

Stocks wobble as investors assess risks of second wave

Asian stocks were set for gains on Friday although trade was likely to be choppy after a mixed Wall Street session with investor focus swinging between concerns about a second pandemic wave and more upbeat hopes about an economic recovery. TOKYO/WASHINGTON: Asian shares and U.S. stock futures teetered in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1per cent. U.S. S&P 500 e-minis moved in and out of the red, and were last up 0.21per cent. Shares in China rose 1.15per cent, led by gains in financials and the health care sector, but South Korean stocks fell 0.25per cent due to concern about diplomatic tension with North Korea. ...
Looters target Myanmar temple treasures in tourist slump
World

Looters target Myanmar temple treasures in tourist slump

BAGAN, Myanmar: A squad of armed police patrol Myanmar's sacred site of Bagan under the cover of night, taking on plunderers snatching relics from temples forsaken by tourists due to coronavirus restrictions. Each evening as dusk falls, about 100 officers fan out across the plain of Bagan measuring 50 sq km, sweeping torches over the crumbling monuments to scour for intruders. "Our security forces are patrolling day and night," Police Lieutenant Colonel Sein Win tells AFP. "We have it under control for the moment, but it's a challenge." The central Myanmar city is strewn with more than 3,500 ancient monuments – stupas, temples, murals and sculptures – and was finally added to the prestigious United Nations Educational, Scientific and Cultural Organisation (UNESCO) World Heritage Li...
Exclusive: Boeing 737 MAX development marred by design, communications flaws – US IG report
World

Exclusive: Boeing 737 MAX development marred by design, communications flaws – US IG report

Boeing Co failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. WASHINGTON/SEATTLE/CHICAGO: Boeing Co failed to submit certification documents to the U.S. Federal Aviation Administration (FAA) detailing changes to a key flight control system faulted in two fatal crashes, a long-awaited government report seen by Reuters has found. The flight control system, known as MCAS, was "not an area of emphasis" because Boeing presented it to the FAA as a modification of the jet's existing speed trim system, with limited range and use, according to the report. The 52-page report by the U.S. Department of Transportation's ...
Singapore reports 202 new COVID-19 cases; 6 infections in community
China, Singapore, World

Singapore reports 202 new COVID-19 cases; 6 infections in community

SINGAPORE: Singapore reported 202 new COVID-19 cases on Monday (Jun 29), including six cases in the community, said the Ministry of Health (MOH). The community cases involve four Singaporeans and two work permit holders. Among the Singaporeans, one had already been quarantined as he had been in contact with a previous case linked to the Leo dormitory cluster. Another two cases were detected as part of MOH's screening of people working at dormitories or frontline COVID-19 operations. "Epidemiological investigations are ongoing for the remaining (Singaporean) case," said MOH. The tally of COVID-19 cases in Singapore stands at 43,661. Most of the new cases daily are work permit holders residing in foreign worker dormitories, with 196 infections reported on Monday. Three ne...
Greece is ‘ready to welcome tourists’, says prime minister
China, World

Greece is ‘ready to welcome tourists’, says prime minister

FIRA: From the emblematic island of Santorini, Greek Prime Minister Kyriakos Mitsotakis said on Saturday (Jun 13) that Greece is "ready to welcome tourists" in complete safety after the coronavirus lockdown, whose impact on tourism will be "significant". "Greek tourism is back," said Mitsotakis, two days before the reopening of the tourist season. The return of tourists to Greece from around 30 countries by air, sea and land, begins on Monday. "Everything is ready in terms of making sure that we ensure the proper social distancing guidelines, said Mitsotakis, adding that safety and health is "our number 1 priority". "We want visitors to feel safe. I am not interested in making Greece the number one destination in Europe. I am interested in making Greece the safest destination in Eu...
India says officer, 2 soldiers killed in ‘violent faceoff’ on Chinese border
China, USA, World

India says officer, 2 soldiers killed in ‘violent faceoff’ on Chinese border

NEW DELHI: An Indian officer and two soldiers were killed in a "violent faceoff" with Chinese troops on the contested border, the Indian army said on Tuesday (Jun 16) following weeks of rising tensions and the deployment of thousands of extra troops from both sides. Brawls and face-offs flare on a fairly regular basis between the two nuclear-armed giants over their 3,500km frontier, which has never been properly demarcated, but no one has been killed in decades. The Indian army said that there were "casualties on both sides", but Beijing made no mention of any deaths or injuries as it swiftly laid the blame squarely on India for the incident. "A violent face-off took place yesterday (Monday) night with casualties on both sides. The loss of lives on the Indian side includes an office...
Vietnam, Philippines denounce China military drills in disputed waters
China, World

Vietnam, Philippines denounce China military drills in disputed waters

HANOI: Vietnam and the Philippines on Thursday (Jul 2) criticised China's holding of military drills in a disputed part of the South China Sea, warning it could create tension in the region and impact Beijing's relationship with its neighbours. Philippine Defence Secretary Delfin Lorenzana said China's exercises in the waters near the Paracel Islands were "highly provocative", while Vietnam's Foreign Ministry called them a violation of sovereignty that could be "detrimental" to Beijing's relationship with the Association of Southeast Asian Nations (ASEAN). China scheduled five days of drills from Wednesday near the Paracels according to a Jun 27 announcement by the Hainan Maritime Safety Administration. Vietnam has overlapping claims with China over the Paracels. Vietnam and the Phi...
Tibet’s only soccer club folds over altitude dispute
China, USA, World

Tibet’s only soccer club folds over altitude dispute

Tibet's first and only professional soccer team has become the latest in a string of Chinese clubs to fold, following a row over hosting matches in one of the highest cities in the world. Lhasa Chengtou played only two games in the Tibetan capital — which sits at an oxygen-sucking altitude of 3,650 meters — and on both occasions the referee had to suspend play every 15 minutes to let the players breathe bottled oxygen, Xinhua news agency said. The demise of the club, just three years after it was founded, is a blow to the ruling Communist Party's hopes of having a team in the professional leagues to make Tibetans feel more integrated into China. Lhasa Chengtou finished last season 26th of 32 teams in China's third division and had been playing its home matches thousands of kilometers aw...
Credit Suisse CEO sees things ‘going in right direction’
Market, World

Credit Suisse CEO sees things ‘going in right direction’

ZURICH: Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday (Jun 10). "Those early indications that we have seen now in the last couple of weeks have been actually quite promising and going in the right direction. We clearly had a lot of stress in the system in the second half of March but things really calmed down in April and they continue to be quite robust in May and June," he said in an audiocast for a Goldman Sachs conference. "So far, so good. Clearly we expect very bad economic data for Europe and the US for Q2 but overall actually if I speak to my colleagues on the corporate banking side in Switzerland, to my colleagues in investment banking, we actually see high engage...