3 h. ago Chinese sanctions will cost a South Korean shipbuilder but could boost US ties

China’s sanctions on Hanwha Ocean will drive up the firm’s costs in the medium term but may also end up boosting South Korean ties with the US over the long term as Washington seeks to expand naval shipbuilding capacity, analysts said. Last week, the Chinese commerce ministry announced it had imposed sanctions on five US-based affiliates of Hanwha Ocean, one of South Korea’s largest shipbuilding companies. The ministry alleged that Hanwha had supported Washington’s investigation into Chinese...

Politics

46 h. ago Indonesia, Brazil boost ties, strike cooperation deals as leaders meet

Indonesia and Brazil agreed to boost ties and struck a series of agreements on Thursday as their leaders met in Jakarta, with Southeast Asia’s biggest economy looking to make further inroads into South American markets. Brazilian President Luiz Inacio Lula da Silva was greeted by a marching band and national anthems at a ceremony at the presidential palace in Jakarta before talks with Indonesian counterpart Prabowo Subianto. The pair witnessed the signing of agreements on oil, gas, electricity,...

Politics

4 d. ago ‘Reason to be together’: India, Brazil boost ties amid US tariff tensions

India and Brazil are doubling down on economic and climate cooperation in a bid to strengthen Brics and bolster the Global South’s negotiating power as both nations face rising trade tensions with the United States. Analysts say the push – announced during Brazilian Vice-President Geraldo Alckmin’s visit to New Delhi last week – is not just about shielding their economies from punitive US tariffs, but also about asserting influence on multilateral issues ranging from energy security to global...

Events

2 w. ago Singapore to deepen defence ties with Asia’s ‘resident power’ Australia

Australia and Singapore are in discussions to boost bilateral defence ties, including enhanced reciprocal access to naval and airbases, Prime Minister Lawrence Wong said on Wednesday. Under the deal, Australia will be able to deploy more of its forces in Asia and “will mean stronger facilitation for Australia to participate in Asia”, Wong said during a joint press conference in Canberra, adding that the details are still being worked out. “We see Australia as a resident power in Asia and your...

Politics

3 w. ago Why is Shenzhen, China’s balmy southern tech hub, becoming a skiing destination?

Some Chinese skiers are travelling to an unexpected destination to take part in the winter sport: the hot and humid tech hub of Shenzhen in southern China’s Guangdong province, during next month’s eight-day National Day holiday, also known as the “golden week”. Qianhai Huafa Snow World, which is being touted as the world’s largest indoor ski resort, is set to open there on Monday as authorities look to tie the winter sports economy to efforts to boost consumption. The 10-hectare (24.7 acre)...

Politics

4 w. ago Beijing vows to protect Chinese firms in US and boost bilateral ties amid talks

China has pledged to safeguard the legitimate rights of its companies operating in the United States and work to stabilise economic and trade relations, as Beijing and Washington seek progress in ongoing trade negotiations. Minister of Commerce Wang Wentao convened a round-table meeting in New York on Tuesday with executives from more than a dozen Chinese companies operating in the US, joined by the head of the China General Chamber of Commerce in the US. Wang warned that the global trade...

Politics