BRI
Nepal seeks better BRI terms as ruling party MPs visit China
Nepal is dispatching a group of MPs to China to negotiate potential advantages from the Belt and Road Initiative. Prime Minister Balen Shah emphasized negotiating with assurance and encouraged the MPs to meticulously examine how Nepal can benefit from Chinese projects. The talks are anticipated to cover concerns regarding financing and implementation, as the government remains vigilant about risks associated with BRI involvement.
US sanctions have India cornered. BRICS charts an escape route
US sanctions have significant implications on international trade, especially concerning countries like India. As BRICS countries explore alternative payment systems, the renminbi could become an attractive option. This change might reduce reliance on the US dollar and offer nations more strategic autonomy. The recent discussions emphasize the importance of cross-border interoperability and local-currency settlements among BRICS members. These developments highlight a potential shift in global economic power dynamics.
Anthropic opens office in Singapore, partners with government on AI safety and adoption
The new office is Anthropic's fifth in the Asia-Pacific region. The company said Singapore is one of its most active markets globally, with its Claude AI assistant being used by businesses and government services serving millions of people every day.
Florida execution: 74-year-old William Lee Thompson's execution called off by Governor Ron DeSantis but 63-year-old James Robertson's execution to be held same day. Here's why
Florida Governor Ron DeSantis did not provide a reason in the letter for withdrawing Thompson's death warrant but had temporarily stayed his execution last month pending a psychiatric evaluation.
102-year-old woman watched US-Canada border change for nearly a century—then walked across the new Gordie Howe International Bridge
At 102 years old, Rita Georgeff from Windsor finally walked across the newly inaugurated Gordie Howe International Bridge, a moment she had dreamed of for two long years. Joined by her friends, she showcased incredible determination, leaving onlookers inspired. After admiring the scenic views, they made their way back to Canada, with Rita smiling as she expressed her desire to celebrate her 103rd birthday next year.
Neighbourhood Power Play: Transmission lines are new pathways of India’s subcontinental influence
India’s power grid is emerging as a strategic counter to China’s Belt and Road push in South Asia. India’s ability to buy large quantities of electricity makes its market crucial for neighbours such as Nepal and Bhutan. While China funds power projects, India provides the revenue through electricity imports.
From G7 to D10: Why the world's democracies should finally name their coalition
Global summits highlight a multipolar world order and competing national interests. Industrial democracies informally assemble, behaving like a D10 coalition. This grouping commands significant global GDP and economic influence. India's consistent participation makes it indispensable to these discussions. The time has arrived for this informal arrangement to gain formal recognition.
Nepal’s flood disaster is bigger than the climate blame game
Nepal seeks climate justice and compensation from industrial emitters for a recent disaster. Scientific analysis suggests the event was primarily a geological hazard, not solely climate change. The article highlights inadequate infrastructure and hazard assessments contributing to the disaster's impact. Nepal's naming of China, the US, and India as emitters faces geopolitical and economic considerations. India should offer support and aid to Nepal, acknowledging shared geographical risks.
BRI in Nepal remains non-starter despite optimism among section of Nepalese leadership
Nepal and China signed a memorandum of understanding on BRI in 2017. Nearly seven years since, not a single project under the initiative has either been executed or negotiated as successive governments in Nepal have been averse to borrowing loans from Beijing unlike Sri Lanka and Pakistan, according to Nepal watchers.
Italian PM: Strong partnership with China more important than BRI
Italy is the only G7 nation to sign up to the BRI, a global trade and infrastructure plan modelled on the old Silk Road that linked imperial China and the West. Italy has the G7 presidency next year and recasting its relationship with Beijing would placate its Western allies, who are fearful of Chinese influence, while reducing the risk of a backlash from Beijing.
Nepal & China agree to expedite pending infrastructure projects under BRI
The agreement was reached during a meeting between the vice chairman of Nepal's National Planning Commission (NPC), Dr Min Bahadur Shrestha, and Chong Liang, the vice chairman of the Chinese government's National Development and Reform Commission (NDRC), which oversees the implementation of the Belt and Road Initiative (BRI).
Nepal needs to prioritize its interests while executing China's BRI: Experts
During the one-day event, former Foreign Minister Pradeep Kumar Gyawali said hat Nepal should prioritize its interests while executing projects under the BRI. "We have not held discussions with China on the funding modalities of the projects under the BRI. Let's do that," he said. Gyawali said that Nepal has not entered a negotiation with China on the free trade. "We can do that only after having enough negotiations," he said.
China denies its BRI, CPEC projects faced serious crisis as countries like Pakistan, Sri Lanka drowned in debt
Several reports quoting well-established think tanks said the Belt and Road Initiative (BRI) and its flagship, the USD 60 billion China Pakistan Economic Corridor (CPEC), were mired in debt with countries from Asia to Africa not able to complete the projects and unable or refusing to pay the loans.
China's BRI spending fell to $28.4 billion in first half of 2022
According to research published on July 24 by Shanghai-based Green Finance and Development Center (GFDC), multiple countries saw a 100 per cent drop in BRI engagement compared to H1 2021, such as Russia, and Egypt, while China's engagement in Pakistan for the China Pakistan Economic Corridor (CPEC) dropped by about 56 per cent.
BRI projects in Nepal suffer amid funding challenges
During a recent visit (March 25-27) of Chinese foreign minister Wang Yi to Nepal, the two countries signed nine agreements, but none was related to the BRI. The BRI plans were reportedly not discussed during Wang's visit, with Nepal insisting on threadbare negotiations on the issue, ET has learnt.
China’s agony: Slow pace of BRI projects in Nepal
During the recent visit (March 25-27) of Chinese Foreign Minister Wang Yi to Nepal, both countries signed nine agreements, but none of them were related to the BRI. The BRI plans were reportedly not discussed during Wang’s visit due to some confusion and Nepal insisting on negotiations, ET has learnt.
China rebranding BRI to rival Biden's B3W with focus on green finance, inclusive development
When B3W was unveiled by Biden during the G-7 summit in June, with the goal of creating "a values-driven, high-standard and transparent infrastructure partnership" to help finance projects in developing countries, China played down any competition, saying that BRI is open for international cooperation.
China considers softening BRI to mitigate environment impact following G-7 & India pushback
An internal study in China believes BRI projects in Iran and Afghanistan face environmental challenges compared to BRI projects in SE Asia and South Asia, many of which are part of India’s near and extended neighbourhood, ET has learnt.
'Fed up' of US criticism of BRI, says China
US Secretary of State Mike Pompeo has made scathing criticism of the BRI during his recent tours to the UK and Finland.
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