Latest news with #Chinese-led
Economic Times
4 days ago
- Business
- Economic Times
Huge methane gas reserve found in western Nepal
Synopsis A recent report indicates that western Nepal may possess approximately 430 billion cubic metres of methane gas reserves. This could potentially fulfill the nation's gas demand for about 50 years. Initial findings from a Chinese-led exploration project in the Dailekh district revealed significant methane deposits in a single well. A preliminary report published on Thursday has revealed that the total methane gas reserves in western Nepal could reach approximately 430 billion cubic metres, enough to possibly meet the Himalayan nation's demand for gas for around 50 years. ADVERTISEMENT The report, prepared by the China Geological Survey (CGS), presented initial findings from just one of the four targeted wells in Jaljale area of Dailekh district, raising the possibility of the Himalayan nation tapping into domestic sources of energy, according to government daily Gorkhapatra. The findings were shared with the government of Nepal on Thursday. The exploration was carried out under a bilateral agreement signed in 2019 between Nepal and China. "The first drilling operation, launched on May 11, 2021, reached a depth of more than 4,000 metres, revealing an estimated 1.12 billion cubic metres of methane in a single well," the report said. "The report represents initial findings from just one of four targeted wells. Based on early estimates, the total reserve in the area could reach 430 billion cubic metres, which could possibly meet Nepal's demand for gas for around 50 years," Gorkhapatra said. ADVERTISEMENT Dinesh Kumar Napit, Deputy Director General at the Department of Mines and Geology, and head of the Petroleum Exploration Project said that the site is the deepest and most scientifically advanced exploration carried out in Nepal to date. The government has allocated 45 ropanis of land equivalent to 2,50,000 sq ft area, which is less than 1 sq km, for the project. Further testing is underway to assess gas quality, commercial viability, and economic potential. ADVERTISEMENT "The final report from the Chinese team is expected by the end of this year, with plans to begin commercial production testing thereafter," the newspaper said. This project - entirely grant-funded by the Chinese government - is considered a pilot initiative, with the CGS providing technical and financial support. The initial estimated cost was Rs 2.5 billion, though delays caused by the COVID-19 pandemic, led to escalation. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY
LeMonde
4 days ago
- Politics
- LeMonde
Putin to visit China for regional summit and WWII commemorations
Russian President Vladimir Putin will visit China later this year for a regional summit, talks with leader Xi Jinping and commemorations marking 80 years since the end of World War II in Asia, the Kremlin said Thursday, June 19. Putin and Xi – who often refer to each other as "dear friend" – have deepened their relations amid Russia's three-year offensive on Ukraine. The two countries signed a "no-limits" strategic partnership just days before Russia launched its full-scale military campaign in February 2022. Kremlin aide Yuri Ushakov said Putin will attend a summit of the Shanghai Cooperation Organization in Tianjin, a Chinese-led regional forum, on August 31-September 1. Putin and Xi will hold bilateral talks on September 2, and then the Russian leader will head to the WWII events scheduled in Beijing for September 3. Xi was guest of honour at a vast military parade in Moscow on May 9, marking 80 years since the defeat of Nazi Germany in Europe. Both Russia and China have been accused by critics of distorting the history of WWII and seeking to use the conflict to justify their expansionist foreign policies. China marks the end of WWII in September, when Japanese forces officially surrendered.
Business Recorder
03-06-2025
- Business
- Business Recorder
No high population growth blackmail, please
EDITORIAL: Ahsan Iqbal, the Minister for Planning Development and Special Initiatives, on the occasion of the launch of Asian Infrastructure Report 2025 by the Chinese-led Asian Infrastructure Investment Bank (AIIB) remarked on the need to revisit the major criteria for resource distribution, notably population, under the 2010 National Finance Commission award. Three extremely disturbing observations are in order. Firstly, the last NFC award was 25 years ago and this in spite of Article 160 of the constitution which stipulates that 'within six months of the commencing day and thereafter at intervals not exceeding five years, the President shall constitute a National Finance Commission consisting of the Ministers of Finance and Provincial Governments, and such persons as maybe appointed by the President after consultation with the Governors of the Provinces.' Thus while three NFC awards subsequent to the 2010 award should have been agreed and implemented all administrations representing the three national parties have been unable to reach a consensus and instead have relied on Clause 6 which states that in the event that an order has not been issued by the President because there have been no recommendations by the NFC 'the President may, by order, make such amendments or modification in the law relating to the distribution of revenues between the Federal Government and the Provincial Governments as he may deem necessary or expedient.' Secondly, the consensus on 2010 NFC award was reached after the Punjab government agreed to a percentage decrease in population as the major criteria — an agreement supported by the then Punjab Chief Minister Shehbaz Sharif for reportedly the then PPPP-led government's agreement to amend the constitution to allow for a third-time prime minister. Population component of the award was reduced to 82 percent, poverty and backwardness 10.3 percent, revenue collection or generation 5 percent and inverse population density 2.7 percent. This, in turn, accounted for Punjab's share to decline from 57.88 percent to 51.74 percent, for Sindh share to rise from 23.28 percent to 24.55 percent, Khyber Pakhtunkhwa to rise from 13.54 percent to 14.62 percent and Balochistan's share to rise from 5.3 percent to 9.09 percent. There is a need to further reduce the population component of the NFC award as correctly stated by the Planning Minister as the NFC must not incentivise population growth, which is considered a major reason behind the lack of focus of all provincial governments to reduce population growth and thereby improve the percentage benefitting from social and physical infrastructure. In fact, the opposite has happened; in order to maximize the share of resources under the NFC, the number of seats in the National Assembly and quotas in federal job allocations the population figures have been grossly exaggerated. The result is that the results of all censuses carried out post-1972 (the third census was conducted, replacing the planned 1971 census due to political circumstances) have been contested and rejected by various parts of society in various parts of the country. They have been rejecting the results of censuses as being flawed, if not entirely false. Nevertheless, one can draw a lesson or two from India where the share of population in distribution of resources was significantly reduced in the NFC; and other criteria such as distance factor, tax generation, fiscal discipline, infrastructure index, forest and ecology, etc., have been introduced in the NFC. The number of seats in the Lok Sabha (lower house of parliament) stands frozen (initially frozen by Indira Gandhi for 25 years and the freeze then extended by another 25 years by Atal Behari Vajpayee. It is due to expire within the present tenure of the incumbent government); and it is unlikely to be changed on the basis of the upcoming census. In this regard, it is important to note that a number of political parties have demanded prime minister Narendra Modi give a categorical assurance in Parliament that the freeze on the number and state-wise distribution of seats in Lok Sabha will be extended for another 30 years beyond 2026. It is therefore desirable in our own national interest as well that the weight of population within the NFC formula is reduced significantly to arrest the proclivity to overstate and grossly exaggerate the population figures at the time of the national census. Needless to say, carrying out national census and announcing NFC award every 10 years are constitutional obligations and it is matter of national shame that successive governments in the country have miserably failed in fulfilling this mandatory obligations under the supreme law of the land, the supreme law that they swear to uphold under the sacred oath that they take upon assuming office of the State. They must not ignore the fact that population growth is a huge liability. In other words, a large population base with high population growth is a ticking time bomb, to say the least. Copyright Business Recorder, 2025
Daily Maverick
24-04-2025
- Business
- Daily Maverick
US lawmakers subpoena China telecom giants over security concerns
The leaders of a U.S. congressional committee on Wednesday moved to force China's three telecom giants to cooperate with an investigation into their alleged support for the Chinese military and government, according to letters seen by Reuters. In a bipartisan effort, the House of Representatives' select committee on China used its seldom exercised subpoena powers in an effort to compel China Mobile China Telecom and China Unicom to answer questions about whether they could exploit access to American data through their U.S. cloud and internet businesses. Democratic and Republican lawmakers continue to express concern over the Chinese telecoms' U.S. operations following high-profile Chinese-led cyberattacks, including Volt Typhoon, which the FBI said has allowed China to gain access to American telecommunications, energy, water and other critical infrastructure. Beijing has denied responsibility for those attacks. A spokesperson for China's embassy in Washington said in a statement: 'We oppose the U.S. over-stretching the concept of national security, using national apparatus and long-arm jurisdiction to bring down Chinese companies.' The committee's Republican chair John Moolenaar and its top Democratic Representative Raja Krishnamoorthi in March had sought the companies' responses to questions after a 2024 Reuters report that they were under U.S. Commerce Department investigation. The committee said the companies had ignored that request. The Federal Communications Commission (FCC) denied China Mobile's application to provide U.S. telecommunications service in 2019 and revoked China Telecom and China Unicom's authorizations in 2021 and 2022. But the companies still have a small presence in the U.S., for example, providing cloud services and routing wholesale U.S. internet traffic. U.S. regulators and lawmakers fear that the companies could access personal information and intellectual property stored in their clouds and provide it to the Chinese government or prevent Americans from gaining access. In three similar letters dated April 23 notifying the companies of the subpoenas, Moolenaar and Krishnamoorthi said the select committee had received information indicating the companies 'may continue to maintain network Points of Presence, data center access, and cloud-related offerings in the United States, potentially through subsidiaries or affiliates.' They called for the companies' full cooperation by May 7. The companies did not immediately respond to Reuters' requests for comment. China's embassy in Washington also did not respond immediately, but it has previously said the U.S. sought to suppress Chinese companies under 'false pretexts.' A committee spokesperson said despite the FCC ban on all three companies operating licensed telecom infrastructure in the U.S., they have continued to run equipment, software, and cloud-based systems in the country that do not require licenses and thus avoid FCC oversight. 'The committee has received third-party private sector reporting and intelligence indicating these platforms have enabled cyber intrusions, data theft, and potential sabotage of U.S. infrastructure,' the spokesperson said, without providing further details. Congress could move to find the companies in contempt if they fail to respond.
Time of India
24-04-2025
- Business
- Time of India
US lawmakers subpoena China telecom giants over security concerns
By Michael Martina WASHINGTON: The leaders of a U.S. congressional committee on Wednesday moved to force China's three telecom giants to cooperate with an investigation into their alleged support for the Chinese military and government, according to letters seen by Reuters. In a bipartisan effort, the House of Representatives' select committee on China used its seldom exercised subpoena powers in an effort to compel China Mobile , China Telecom , and China Unicom to answer questions about whether they could exploit access to American data through their U.S. cloud and internet businesses. Democratic and Republican lawmakers continue to express concern over the Chinese telecoms' U.S. operations following high-profile Chinese-led cyberattacks, including Volt Typhoon, which the FBI said has allowed China to gain access to American telecommunications, energy, water and other critical infrastructure. Beijing has denied responsibility for those attacks. A spokesperson for China's embassy in Washington said in a statement: "We oppose the U.S. over-stretching the concept of national security, using national apparatus and long-arm jurisdiction to bring down Chinese companies." The committee's Republican chair John Moolenaar and its top Democratic Representative Raja Krishnamoorthi in March had sought the companies' responses to questions after a 2024 Reuters report that they were under U.S. Commerce Department investigation. The committee said the companies had ignored that request. The Federal Communications Commission (FCC) denied China Mobile's application to provide U.S. telecommunications service in 2019 and revoked China Telecom and China Unicom's authorizations in 2021 and 2022. But the companies still have a small presence in the U.S., for example, providing cloud services and routing wholesale U.S. internet traffic. U.S. regulators and lawmakers fear that the companies could access personal information and intellectual property stored in their clouds and provide it to the Chinese government or prevent Americans from gaining access. In three similar letters dated April 23 notifying the companies of the subpoenas, Moolenaar and Krishnamoorthi said the select committee had received information indicating the companies "may continue to maintain network Points of Presence, data center access, and cloud-related offerings in the United States, potentially through subsidiaries or affiliates." They called for the companies' full cooperation by May 7. The companies did not immediately respond to Reuters' requests for comment. China's embassy in Washington also did not respond immediately, but it has previously said the U.S. sought to suppress Chinese companies under "false pretexts." A committee spokesperson said despite the FCC ban on all three companies operating licensed telecom infrastructure in the U.S., they have continued to run equipment, software, and cloud-based systems in the country that do not require licenses and thus avoid FCC oversight. "The committee has received third-party private sector reporting and intelligence indicating these platforms have enabled cyber intrusions, data theft, and potential sabotage of U.S. infrastructure," the spokesperson said, without providing further details. Congress could move to find the companies in contempt if they fail to respond.
