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
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
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
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
On Wednesday, Prime Minister Narendra Modi and Greek Prime Minister Kyriakos Mitsotakis agreed to enhance collaboration in defence manufacturing, space, and connectivity. They discussed the Migration and Mobility Partnership Agreement, emphasising cooperation in defence, cybersecurity, counter-terrorism, and maritime security. A Working Group will enhance mutual coordination, fostering co-production and co-development opportunities in defence manufacturing. Both nations share concerns about terrorism, aiming to strengthen cooperation in this area. They explored bolstering connectivity,
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
On Wednesday, G20 ministers gathered in Rio de Janeiro to address pressing global conflicts and governance challenges in preparation for the annual leaders’ summit chaired by Brazil's President Luiz Ignacio Lula da Silva. Lula has emphasised that the G20's top priority this year should be tackling climate change, reorganising global governance, and reducing poverty. Yet, there are still several active conflicts in the region, such as the tensions in Gaza and Russia-Ukraine, which makes it difficult to move forward with governance reforms in the biggest economies in the world. Brazil h
The Biden administration recently cancelled another $1.2 billion in student debt for over 150,000 borrowers under its income-based repayment plan. This brings the total amount of debt relief that Biden has approved for almost 4 million Americans to $138 billion. Eligible borrowers will have their debts cancelled soon, with notices already sent by email. Despite initial delays, the Education Department accelerated the forgiveness process through the Savings on a Valuable Education (SAVE) plan. To qualify, borrowers must be enrolled in SAVE and repay for at least 10 years on a federal studen
The UN Secretary-General plans to initiate consultations for appointing a UN envoy to coordinate engagement between Afghanistan’s Taliban government and the global community. Antonio Guterres revealed that Taliban representatives declined an invitation to a recent meeting in Doha, expressing hope for their participation in future gatherings. He criticized the unilateral approach of the international community, urging for more constructive engagement with the Taliban. The envoy aims to enhance collaboration with the Taliban, potentially fostering their involvement in upcoming meetings.
UN Prime Minister Rishi Sunak stands on the brink of solidifying a pivotal agreement between the UK and the EU's border protection agency, Frontex, marking a significant step in thawing post-Brexit relations. Expected to echo Frontex's existing accords with "third country" states such as Albania, the agreement focuses on intelligence sharing regarding migration trends. However, it notably sidesteps the pressing issue of the small boat crisis, which sees individuals crossing the Channel through irregular means. The agreement is being negotiated, driven by shared interests, and is expected t