INR | APAC : Weekly Updates

Taiwanese military bid to store ammo on temple grounds in wartime sparks outcry

• military’s proposal to convert local temples into ammunition depots during wartime 

• Residents, devotees and a military observer argue against proposal after three temples in western county report receiving agreement.

• in anticipation of a potential war, the command plans to transport some ammunition .

Read more at:

https://www.scmp.com/news/china/politics/article/3268890/taiwanese-military-bid-store-ammunition-temple-grounds-during-wartime-sparks-outcry?module=top_story&pgtype=homepage

The Bank of Japan’s $3 trillion problem

• The Bank of Japan could become unprofitable as interest rates rise and the deposits it holds become far more expensive.

• The BOJ is now in a race to cut the size of its bond holdings

• Whether the BOJ actually loses money will depend on the pace of the rate increases and balance sheet being trimmed

Read More At : https://www.japantimes.co.jp/business/2024/07/02/economy/boj-bond-purchases/

Red Bull family now richest in Thailand

• Forbes Asia said that Mr Chalerm's family increased their wealth by US$2.6 billion to $36 billion

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• The Chearavanont brothers, of Charoen Pokphand Group fame, dropped to second

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• .Charoen Sirivadhanabhakdi of Thai Beverage remains in third position, with estimated wealth of copy0 billion

Read More At: https://www.bangkokpost.com/business/general/2822351/red-bull-family-now-richest-in-thailand

Korea raises 2024 economic growth outlook to 2.6%

• The latest projection marks a 0.4 percentage-point increase

• The economy has been on a recovery track since late last year following a downturn amid the COVID-19

• The Bank of Korea presented a 2.5 percent expansion, and the International Monetary Fund forecast 2.3 percent growth.

Read More At : https://m.koreatimes.co.kr/pages/article.asp?newsIdx=377932

Japan to clarify rules for foreign kids who want to stay and work

• The government is set to shortly clarify permanent residency requirements for children of foreign parents

• Officials of the Immigration Services Agency said the requirements will include 

• more than five years of financial independence payment of taxes 

• social insurance premiums and 

• holding a “designated activities” visa.

Read More At : https://www.asahi.com/sp/ajw/articles/15329346

Water level in sections of China's longest river exceeds warning mark

• As China enters flood season, water levels in sections of the middle and lower reaches of the Yangtze River have exceeded the warning mark

• The Ministry of Water Resources has enacted a Level III emergency response for flood prevention in various provinces . 

• At the forefront of flood prevention and disaster relief efforts, not only are rescue personnel aided by technological advancements such as drones and satellite communication. 

Read More At : https://www.globaltimes.cn/page/202407/1315274.shtml

Korea aims to attract 150,000 professionals from abroad by 2035

• more than doubling the number from 72,000 in 2023, seeking to enhance productivity amid a shrinking working-age population

• Asia's fourth-largest economy also aims to establish the world's most extensive network of free trade agreements (FTAs) by 2027. 

• These plans are being implemented as Korea's annual gross domestic product (GDP) growth rate is anticipated to decline to the 1 percent range in the coming years, and potentially below 1 percent after 2035.

Read More At : https://www.koreatimes.co.kr/www/biz/2024/07/602_377946.html

Taiwan says China seized fishing boat near Chinese coast

• Taiwan’s coast guard said the Taiwanese boat was fishing for squid outside Taipei-controlled waters off the Kinmen islands, when it was boarded and seized by two Chinese maritime administration boats.

• The Taiwanese boat was operating during China’s no-fishing period. 

• the coastguard said, adding that Taiwan will communicate with China and urge them to release the fishermen as soon as possible.

• So far this year, Taiwan has detained five such boats from China, Taiwan’s coastguard data shows.

Read More At : https://www.aljazeera.com/news/2024/7/3/taiwan-says-china-seized-fishing-boat-near-chinese-coast

Pakistan will continue attacks in Afghanistan - Pak Defence Minister

• Pakistan will continue to launch attacks against Afghanistan as part of a new military operation aimed at countering terrorism

• The Taliban government in Afghanistan describes the strikes as violations of its sovereignty.

• The Taliban said the statement was "irresponsible", warning Pakistan that cross-border attacks would have "consequences".

• Mr Asif dening  operations had been due to pressure from China rather  would address security threats to Chinese projects and nationals in Pakistan.

Read More At : https://www.bbc.com/news/articles/c7289yvl84po

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

Prisoner Parole for Battlefield, Russian Gains, Hungarian PM Visits Kyiv

• In a controversial mobilisation approved by the parliament last month, more than 3,000 prisoners have been released on parole. In the face of personnel shortage in fighting the Russian forces, convicts have been given a chance at parole in return for battlefield services. 

• The Russian defence ministry has announced that it has captured control of two villages in eastern ukraine. These settlements include Stepova Novoselivka in Kharkiv region, and of Novopokrovske in Donetsk region. The Ukrainian military statements have partly denied the assertion. 

• The hungarian prime minister Viktor Orbán is set to visit kyiv. This is the first visit since the Russian invasion of Ukraine and as Hungary takes over the rotating presidency of the EU. The pro-russian leader has often questioned the need to support Ukraine militarily and has instead called for a ceasefire. 

Read more : 

https://www.theguardian.com/world/article/2024/jul/02/ukraine-war-briefing-thousands-of-ukrainian-convicts-join-fight-against-russian-forces

 
Trump Claims One-Day Russia-Ukraine Peace, Russian UN Envoy Disagrees

• Donald trump, in the US presidential debate has repeatedly mentioned that he would be able to end the russia ukraine war in a single day if he were the president. This remark comes after Trump met with Zelensky and later putin. 

• The Russian ambassador to the UN has however rejected the claim and stated otherwise. He has accused Ukraine's western backers of prolonging the war. Nebenzia mentioned Putin's June 14 offer to order a ceasefire immediately if Ukraine surrendered some territories and gave up the plan to join nato. However, Ukraine did not take up Russia's ultimatum. 

Read more:

https://apnews.com/article/trump-russia-ukraine-war-un-election-a78ecb843af452b8dda1d52d137ca893 

Hungary Takes EU Presidency Amid Controversy

• Hungary takes over the EU rotating presidency amidst criticisms that the prime minister Viktor Orban frequently violates rule of law and human rights. Hungary is the only European country that has maintained ties with Russia after its invasion of ukraine. Orban has also criticised military support to ukraine. 

• Orban plans to form his own group in the EU along with Austria's far-right Freedom Party and the centrist ANO party of ex-Czech premier Andrej Babis. Hungary has announced seven priorities for the EU, which include curbing illegal migration and bringing the Western Balkans countries "one step closer" to EU membership.

Read more:

https://www.hindustantimes.com/world-news/hungary-takes-on-eu-presidency-amid-concerns-101719810708124-amp.html

Ukraine reinforces borders with Belarus

• The Belarusian military has reported that Ukraine is moving troops, arms and equipment into its northern Zhytomyr region. Belarus, a part of a union state with Russia and its close ally, has started reinforcing its borders with Ukraine after a security incident. 

• The border guard had shot down a quadcopter after it allegedly crossed the border from Ukraine to collect intel about Belarusian infrastructure. The Kremlin has stated it to be a cause of concern. Ukraine has claimed the reports to be a part of the Russian disinformation strategy. 

Read more:

https://www.reuters.com/world/europe/kremlin-says-report-that-ukraine-is-reinforcing-belarus-border-is-worry-2024-07-01/

Belarus Sentences 20 Exiled Analysts in Post-Election Crackdown

• Belarus has sentenced 20 political analysts to prison terms of at least 10 years each for conspiracy to overthrow the government and participating in an extremist group. The analysts live outside Belarus but could be imprisoned upon returning to the authoritarian state. 

• The crackdown began after mass demonstrations following the August 2020 election. The analysts are part of a crackdown on rights groups and independent news media, including Ales Bialiatski, founder of the Viasna human rights group.

Read more:

https://abcnews.go.com/amp/International/wireStory/court-belarus-sentences-20-analysts-prison-terms-charges-111602977

Russia's crude exports surge to their highest levels of the year

• Russia's seaborne crude exports have surged to their peak level for the year, with key Pacific port shipments bouncing back after a storm had hindered loading operations the previous week.

• The gross value of crude shipments jumped to the highest since October, rising to $1.86 billion in the seven-day period, despite an international sanctions regime designed to crimp President Vladimir Putin’s ability to finance the war in Ukraine.

• A total of 34 tankers loaded 25.9 million barrels of Russian crude in the week to March 10, vessel-tracking data and port agent reports show. That was up by about 4.1 million barrels from the previous week and the highest so far this year.

Read More - https://www.bloomberg.com/news/articles/2024-07-02/russia-s-oil-exports-rebound-to-their-highest-level-since-may

A Ukrainian drone "swarm" launched an overnight raid on a Russian steel mill

• Ukrainian drones launched a "swarm" attack on Novolipetsk Steel's facility early Sunday, causing no serious damage, a company spokesperson reported.

• According to Russia's defense ministry, air defense systems intercepted 36 Ukrainian drones overnight that were aimed at several southwestern regions, including Lipetsk.

• The ministry also reported that Russian forces had captured the villages of Spirne and Novooleksandrivka in Ukraine's eastern Donetsk region, according to the Russian news agency RIA, marking the latest in a series of incremental territorial gains.

Read More - https://www.google.com/amp/s/www.ndtv.com/world-news/swarm-of-ukrainian-drones-attack-russian-steel-mill-in-overnight-raid-6003961/amp/1

Four regions in Kyrgyzstan have declared a state of emergency following deadly mudslides and flooding

• Due to deadly mudslides and floods caused by heavy rains in recent weeks, the Kyrgyz Emergency Ministry announced on July 2 that a state of emergency has been imposed in the regions of Batken, Jalal-Abad, Osh, and Talas.

• The ministry warned that the situation is expected to remain very dangerous for several days, with heavy rains forecasted to continue until July 7.

Read More - https://www.google.com/amp/s/www.rferl.org/amp/emergency-kyrgyzstan-regions-over-deadly-mudslides-flooding/33018468.html

China's President Xi Jinping is set to visit Kazakhstan and Tajikistan for important talks.

• According to Xinhua news agency, Chinese leader Xi Jinping departed on Tuesday for state visits to Kazakhstan and Tajikistan, where he will also participate in a meeting of Shanghai Cooperation Organization (SCO) member states in Astana, the capital of Kazakhstan.

• The Shanghai Cooperation Organization (SCO), comprising nine member states from Moscow to Beijing, represents approximately half of the world's population. Its permanent members include Kazakhstan, India, China, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan, and Iran.

• Xinhua reported that Xi’s entourage includes Cai Qi, a top-ranking member of the Chinese Communist Party, and Foreign Minister Wang Yi.

Read More - https://www.google.com/amp/s/www.firstpost.com/world/chinas-xi-jinping-heads-to-kazakhstan-tajikistan-for-high-level-talks-13788235.html/amp

The Taliban are leveraging Afghanistan's cricket success to their advantage, even as the women's team remains in exile

• Despite Afghanistan men’s team playing their inaugural official game only two decades ago and never hosting an international match at home, the future remains uncertain under the Taliban’s rule.

• After reclaiming power, the Taliban have signaled their intention to back Afghanistan's national cricket team, including plans for a new stadium in Kabul. However, these efforts are widely perceived as an attempt to "sportswash," as women continue to endure severe restrictions and injustices under Taliban rule.

• Amidst the turmoil, Afghanistan's women's cricket team advocates for equal opportunities and recognition, highlighting cricket as a potential positive force for women in the country.

Read More - https://www.telegraph.co.uk/cricket/2024/07/01/afghanistan-t20-cricket-world-cup-taliban-women-australia/

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)