INR | APAC : Weekly Updates

 

Hyundai to invest $28m in Thailand for EV assembly, batteries

• South Korean auto maker Hyundai Motor Company will invest 1 billion baht (US$28 million) to set up a facility to assemble electric vehicles (EVs) and batteries in Thailand

• The Hyundai factory, to be located just southeast of the capital city of Bangkok, will start production in 2026, according to a BOI statement.

• Thailand, the region's biggest auto manufacturing hub, accounted for 55% of all Southeast Asia's EV sales in the first quarter, according to Counterpoint Research.

Read More At : https://www.bangkokpost.com/business/motoring/2843103/hyundai-to-invest-28m-in-thailand-for-ev-assembly-batteries 

Thai constitutional court bans popular politician, dissolves party

• The Constitutional Court in Bangkok voted "unanimously" to dissolve the Move Forward Party and ban its executive board, which includes its former leader Pita Limjaroenrat, for 10 years

• This followed an earlier ruling that the party's pledge to reform the royal lese-majeste law amounted to an attempt to overthrow the constitutional monarchy.

• Lese-majeste charges are extremely serious in Thailand, where King Maha Vajiralongkorn enjoys a quasi-divine status that places him above political fray.

 Click to read: https://www.thejakartapost.com/world/2024/08/07/thai-constitutional-court-bans-popular-politician-dissolves-party.html.

Singapore has 'very limited role' to play in Middle East conflict: Vivian Balakrishnan

• Singapore has a very limited role to play in the conflict in the Middle East, said Minister for Foreign Affairs Vivian Balakrishnan on Wednesday (Aug 7).

• The Ministry of Foreign Affairs (MFA) has issued travel advisories against travel to Lebanon, in particular the Israel-Lebanon border as well as the Israel-Syria border,

• Dr Balakrishnan urged Singaporeans not to go to hotspots where safety will be an issue, or where further regional conflict is a real and present risk. 

Read More At: https://www.todayonline.com/news/singapore-has-very-limited-role-play-middle-east-conflict-vivian-balakrishnan-2472536 

Piyush Gupta to step down as DBS CEO after 15 years in March 2025; Tan Su Shan, 56, to take over

• DBS Bank CEO Piyush Gupta will step down from his role when he retires at the next annual general meeting on March 28, 2025.

• The 64-year-old will be replaced by Tan Su Shan, 56, who is group head of institutional banking at DBS.

• The bank has earned numerous accolades during Mr Gupta’s 15-year tenure and consistently provided strong returns to its investors .

• Still, DBS also faced difficulties including a spate of digital disruptions in 2010, 2021 and 2023 — the latter causing Mr Gupta to take a variable pay cut of 30 per cent .

• Read More At : https://www.todayonline.com/news/piyush-gupta-step-down-dbs-march-2025-tan-su-shan-take-over-2472456 

South Korean President faces mountain of challenges post-vacation

• President Yoon Suk Yeol is expected to confront several significant challenges, including addressing the market rout and implementing the promised reforms, when he returns from vacation.

• Presidential aides said Yoon has been using the time to rest and explore ideas that can help him tighten his grip on state affairs.

• The remark came a day after Rep. Lee Jae-myung, former leader of DPK, expressed his wish to meet Yoon again. The two held first one-on-one meeting on April 29.

• “The overall economy is currently in a dire state. I would like to meet and talk to Yoon about how we can overcome this situation and resolve parliament stalemate,” Lee said.

Read More At : https://www.koreatimes.co.kr/www/nation/2024/08/113_380146.html 

Chinese military holds joint patrol around contested Scarborough Shoal

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• The Chinese military conducted a joint sea and air patrol around Scarborough Shoal on Wednesday, amid continuing tensions in the South China Sea.

• The Southern Theatre Command of the People’s Liberation Army said it had organised a joint patrol in the waters and airspace near the shoal

• Tensions have escalated in recent years between Beijing and Manila on the disputed waters in the South China Sea, mainly centred on Scarborough Shoal, Second Thomas Shoal and Sabina Shoal.

Read More At : https://www.scmp.com/news/china/military/article/3273522/south-china-sea-chinese-military-hold-joint-patrol-around-contested-scarborough-shoal?module=top_story&pgtype=homepage 

New Democratic VP pick Walz adds deep China experience to ticket

• Minnesota Governor Tim Walz criticized the U.S. approach to China, arguing that current policies are failing to address the challenges posed by Beijing effectively.

• Walz emphasized the necessity for a new strategy that balances competition with collaboration, rather than relying solely on confrontational tactics.

• He highlighted that the U.S. needs to tackle both economic dependencies and security risks associated with China more comprehensively.

• Walz called for a reevaluation of existing policies, suggesting a more nuanced approach that incorporates diplomatic and economic measures alongside traditional security strategies.

Read More At : 

https://www.japantimes.co.jp/news/2024/08/07/world/politics/walz-us-china-policy/ 

News bits collected and drafted by: 

Deepanjali Singh (BA IR 3rd year) (Region Head)

Gungun Thakur (BA IR 2nd year)

Published by: Varsha Das (BA IR 3rd year)

INR | EASTERN EUROPE AND CENTRAL ASIA : Weekly Updates

 Russian exclusion at the Olympic Games

• Mariya Lasitskene, a Tokyo 2020 gold medallist, expresses the hurt of not being able to participate in Paris 2024 due to the ban against Russian athletes issued since the beginning of aggression against Ukraine, showing how profound the emotional and professional impact is on Russian athletes.

• The Russian press and politicians give pejorative nicknames to the Paris Olympics, which indicates that for them, the Olympic Games have been politicized—but more than that, a broad national sentiment of grievance and exclusion is carried through.

•  In response to the exclusion, Russia hosted nationalistic sports festivals. These include traditional recreations and military-themed activities that are quite far from the international Olympic spirit.

Read more:

https://www.bbc.com/news/articles/clwyy9j8wxdo

Russian Defence officials arrested in corruption probe

• Major General Vladimir Shesterov and Vyacheslav Akhmedov, the head of Patriot Park, have been detained over suspicions of fraud relating to the misappropriation of funds destined for work in the park.

• Wider Anti-Corruption Drive: It is part of an unprecedented wave of corruption investigations in the Russian military and defense sectors that have seen several high-ranking officials and businessmen arrested since April.

• The decision of President Vladimir Putin to replace Defence Minister Sergei Shoigu recently with Andrei Belousov signals towards the Kremlin's big push to tighten control over the defense budget and repressions against corruption in the midst of war in Ukraine.

Read more:

https://www.hindustantimes.com/world-news/russia-detains-senior-defence-official-over-suspected-fraud-at-military-theme-park-101722860614475.html

Ukrainian athletes shine at the Olympic Games amidst the ongoing war

• Yaroslava Mahuchikh took gold in high jump and set a new world record, while her compatriots Iryna Gerashchenko and Mykhaylo Kohkan captured bronze medals, showcasing the spirit of strength and national pride amid the ongoing war in Ukraine.

• Deep emotional turbulence and devotion are expressed by athletes in such remarks. In particular, Gerashchenko and Mahuchikh dedicate their medals to friends and family who have become victims of the war. The impact on athletes' personal lives and training conditions since this conflict broke out, including Mahuchikh's displacement from Dnipro, is highlighted.

• Despite the ruined sports infrastructure and miserable condition, the Ukrainian Olympic team continue to perform admirably; President Zelenskyy hails their strength. The athletes look upon participating in and winning the Olympics as a demonstration of the strengthening of their nation and a reminder of the ongoing war.

Read more: 

https://indianexpress.com/article/sports/sport-others/paris-olympics-away-from-war-team-ukraine-wins-a-battle-and-more-9497448/

Mali severs ties with Ukraine over Wagner attack 

• Mali cuts ties with Ukraine over comments by a Ukrainian official acknowledging Kyiv's involvement in helping Tuareg rebels attack Russian Wagner mercenaries and Malian soldiers in a deadly assault.

• The rebels carried out a heavy strike in northern Mali, leaving many dead. It was among the heaviest blows suffered by Wagner. Ukraine stated it was not in any way related to the strike; its foreign ministry declared the decision of Mali to sever relations with it to be "shortsighted and hasty."

• The pivot toward Russia, spearheaded by the Malian approach to Wagner, further consolidated from 2021 after the coup that took place in 2020. In that context, Russian Foreign Minister Sergei Lavrov has, in fact, reaffirmed the support due for Mali.

Read more:

https://www.aljazeera.com/news/2024/8/5/mali-breaks-off-diplomatic-ties-with-ukraine

South Korea and Poland strengthen bilateral ties through air force consultative body

• South Korea and Poland have agreed to set up a consultative body between the air forces in order to improve two-way military cooperation, following Poland's acquisition of Korean fighter jets. Details and launching time are currently under negotiation.

• The new body would handle various aspects of military cooperation, from strategies and tactics to developments in the defense industry. Poland has purchased enormous amounts of defense equipment from South Korea—FA-50 fighter jets, K9 howitzers, and K2 tanks.

• The consultative body will facilitate the sharing of operational know-how concerning the FA-50s jets and may involve a pilot exchange program. Discussions may further be held on the possible exports by South Korea to Poland of its advanced KF-21 Boramae fighters.

Read more: 

https://www.thehansindia.com/news/international/south-korea-poland-to-establish-air-force-consultative-body-896740?infinitescroll=1

Resurgent far-right conjures Austria-Hungary headache for EU on Ukraine

• The far-right favorites to win Austria's next election have forged an alliance with Hungarian leader Viktor Orban that could deepen defiance of Brussels and threaten an already fragile consensus over the Ukraine war if they take power.

• "We're entering what I would like to call a new era in European politics," Kickl said with Orban announcing their European alliance in June in a Vienna hotel alongside Andrej Babis, head of the biggest party in the Czech Republic's lower house, and a former prime minister of that country.

• The EU has agreed 14 rounds of sanctions since Russia's invasion, and in February passed a 50 billion euro ($54 billion) aid package for Ukraine until 2027.

Read More - https://www.reuters.com/world/europe/resurgent-far-right-conjures-austria-hungary-headache-eu-ukraine-2024-08-05/

Hungary to revoke green number plates from hybrid vehicles

• According to a government decree, from 1 September 2024, only fully electric and zero-emission vehicles will be eligible for green number plates upon their first domestic registration, iho.hu writes.

• Owners of less environmentally friendly vehicles—classified as 5P (plug-in) and 5N (extended range) hybrid electric vehicles—must initiate the replacement of their green plates with white ones by 30 November 2026.

• Consequently, the tax incentives associated with green number plates are also under review, marking the end of the era for luxury SUVs with green plates.

Read More - https://dailynewshungary.com/hungary-green-number-plate-hybrid-vehicles/

The Taliban says people in Afghanistan on previous government’s visas can stay for now

• Afghanistan’s Taliban government said Monday it would allow people in the country on visas issued by the former Western-backed government to stay for now, but that they wouldn’t be allowed back in without documents from a Taliban-approved diplomatic mission.

• The move is part of the Taliban’s efforts to gain control of Afghanistan’s representation abroad since returning to power in 2021.

• In March 2023, the Taliban said they were trying to take charge of more Afghan embassies abroad. Their chief spokesman, Zabihullah Mujahid, said the administration had sent diplomats to at least 14 countries.

Read More - https://apnews.com/article/afghanistan-taliban-embassies-65876e961468ddff762ea70d6f01c72a

Fire at Iran-Afghanistan border extinguished after massive inferno

• "Smoke from the fire in this economic hub is visible up to 18 kilometers away," the deputy governor of Taybad for political, security, and social affairs said.

• Fuel tanks caught fire on Monday on Iran's side of the Iran-Afghanistan Dogharoun Special Economic Zone at the border, semi-official Iranian state Tasnim news agency reported.

• "Firefighters have already been dispatched to control the fire, but the amount of damage has not yet been reported," Tasmin news agency reporter Mohammad Reza Rezaei said.

Read More - https://www.jpost.com/breaking-news/article-813363

Kazakhstan, Uzbekistan keen to take their multifaceted partnership to next level

• "The head of state received the assistant to the President of Uzbekistan, Saida Mirziyoyeva. During the meeting, current issues of further advancing the multifaceted partnership between the two countries were discussed," the source said.

• "The head of state received the assistant to the President of Uzbekistan, Saida Mirziyoyeva. During the meeting, current issues of further advancing the multifaceted partnership between the two countries were discussed," the source said.

• "The head of state received the assistant to the President of Uzbekistan, Saida Mirziyoyeva. During the meeting, current issues of further advancing the multifaceted partnership between the two countries were discussed," the source said.

Read More - https://www.azernews.az/region/229544.html

News Bits collected by [Region Head]: 

Poulina Banerjee (BA IR 3rd year)

Drafted by: 

Gauri Upreti (BA IR 2nd year)

Angel Chindalia (MA IR 2nd year)

Published by: Varsha Das (BA IR 3rd year)