South Korea And The US Prep Early Talks On Defence Costs Ahead Of The Election
Politics

South Korea And The US Prep Early Talks On Defence Costs Ahead Of The Election

South Korea and the United States have appointed envoys, Lee Tae-woo and Linda Specht, respectively, to initiate talks on cost-sharing for American troops stationed in South Korea. The action is unusually early for a contract that is scheduled to start in 2026; it could be an attempt to reach an agreement prior to Donald Trump's possible reelection as US president. Since the early 1990s, South Korea has been paying for local labour and military sites to offset the costs of 28,500 American troops stationed there as a deterrent to North Korea. Both nations aim to strengthen their defence

Read more

Prabowo Promises A Seamless Transition And Promotes Privatisation
Politics

Prabowo Promises A Seamless Transition And Promotes Privatisation

On Tuesday, presumed Indonesian President Prabowo Subianto assured a smooth power transition and hinted at privatising state-run enterprises while keeping key sectors under government control. He foresees potential 8% annual economic growth over the next few years. Prabowo advocates for a balanced approach where the state regulates strategic areas but allows the private sector to thrive. Prabowo proposes rationalising and privatising state-owned enterprises, emphasising the need for private dominance in various sectors. He vows to continue Joko Widodo's infrastructure modernization and pla

Read more

Japanese PM Kishida Set To Address US Congress On April 11
Politics

Japanese PM Kishida Set To Address US Congress On April 11

Japanese Prime Minister Fumio Kishida is set to address a joint U.S. Congress session on April 11 during his official visit to Washington, which marks the first address by a Japanese leader in nine years. Scheduled to meet President Joe Biden and attend a state dinner on April 10, Kishida aims to reaffirm Japan's alliance with the United States amidst challenges from China and North Korea. Kishida's visit highlights the commitment to peace, prosperity, and global democracy shared by both nations. The topics of discussion will include bolstering cooperation in economic security, outer sp

Read more

India And South Africa Block Investment Deal At WTO Talks
Politics

India And South Africa Block Investment Deal At WTO Talks

India and South Africa have officially lodged objections against an investment agreement during a World Trade Organisation (WTO) conference in Abu Dhabi, effectively stalling its adoption. On Wednesday, delegates and a document both confirmed this development. About 125 countries support the Investment Facilitation for Development (IFD) Agreement, which aims to improve the investment climate and encourage foreign direct investment. The document emphasised the absence of unanimous consensus, rendering the matter inappropriate for inclusion in the meeting's agenda. Negotiations geared tow

Read more

Qatar’s New LNG Expansion Aims To Squeeze Out US And Other Rivals
Politics

Qatar’s New LNG Expansion Aims To Squeeze Out US And Other Rivals

Qatar aims to strengthen its LNG exports, targeting a 25% global market share by 2030. Amidst the US's export approval pause, Qatar plans a new 16 million tons per year project by 2030. It further aims to increase annual capacity to 142 million tons. Qatar's dominance in LNG has been established by this growth, which is being fueled by 250 trillion cubic feet of additional gas in the North Field. Securing long-term contracts with significant players like China Petroleum & Chemical Corp., Eni SpA, TotalEnergies SE, and Shell Plc is essential to its strategy. With demand expected to incr

Read more

Japan Takes Taiwan’s Helping Hand On Long Road To Chip Revival
Politics

Japan Takes Taiwan’s Helping Hand On Long Road To Chip Revival

TSMC, the leading Taiwanese chipmaker, inaugurated its inaugural Japanese plant, marking its crucial involvement in Tokyo's ambitious endeavour to revitalize its semiconductor manufacturing sector. Japan's reliance on TSMC emphasises its dominant position in the foundry business and concerns over China's technological advancement. TSMC's presence in Japan has catalyzed investment in a sector pivotal for economic security, complementing Japan's support for domestic ventures like Rapidus. By 2027, Taiwan is expected to control two-thirds of advanced foundry capacity, with Japan aiming for a

Read more

Address Geopolitical Issues Constructively And Find Common Ground: India At G20 Fmm In Brazil
Politics

Address Geopolitical Issues Constructively And Find Common Ground: India At G20 Fmm In Brazil

India emphasized the imperative of addressing geopolitical issues constructively and seeking common ground at a G20 ministerial meeting in Brazil amidst global conflicts. Brazil assumed the G20 Presidency from India on December 1, 2023, marking the first ministerial meeting under its helm. V Muraleedharan, India's Minister of State for External Affairs, highlighted India's stance on various conflicts: advocating for dialogue in the Russia-Ukraine war and supporting a two-state solution for Israel-Palestine. He condemned terrorism and stressed securing sea lanes amidst Red Sea vessel attack

Read more

Albania Approves Migration Deal With Italy
Politics

Albania Approves Migration Deal With Italy

Albania's Parliament approved a deal with Italy to establish migrant processing centres in Albania. Two centres—one inland for asylum processes and one at Shūngjin port for initial screening—are part of the plan. Together, they can accommodate 3,000 migrants, with a target of 36,000 processing cases annually. With more people seeking asylum as a result of the conflict in Ukraine, Italy hopes to use this agreement to fight human trafficking and unauthorised immigration. Human Rights Watch and Amnesty International were among the critics who criticised the idea for allegedly breaking EU

Read more

South Korea’s Foreign Minister To Meet Blinken Later This Month
Politics

South Korea’s Foreign Minister To Meet Blinken Later This Month

Cho Tae-yul, the foreign minister of South Korea, is set to travel on a diplomatic mission that will start with his attendance at the G20 Summit in Brazil and end with a significant trip to the United States. According to the news agency, Cho will speak with Antony Blinken, his American counterpart, on Thursday, February 28. The Ministry of Foreign Affairs confirmed Cho's impending trip highlighting its importance in strengthening bilateral relations. Following participating in the G20 Summit, Cho will head to the United States for his first visit since assuming office last month, accordi

Read more

Noboa Proposes $214 Million Hike In Security Spending For Ecuador
Politics

Noboa Proposes $214 Million Hike In Security Spending For Ecuador

Ecuador's President Daniel Noboa aims to strengthen security spending by $214 million in 2024 to combat violence linked to drug trafficking, proposing a potential increase in value-added tax (VAT) to 15% starting in April. The need is highlighted by the designation of gangs as terrorist organisations following recent violent episodes, such as hostage-taking and a TV station siege. As per the Economy Ministry, the planned budget for security would increase from $3.3 billion to $3.52 billion from the previous year. This budget is part of the $35.5 billion budget that needs to be approved by

Read more