NATIONAL SECURITY RISK
Germany stops planned sale of Volkswagen's gas turbine business to China
Germany's cabinet blocked the sale of MAN Energy Solutions' gas turbine business to a Chinese company for security reasons amid EU-China trade tensions. Concerns over national security implications led to the decision, with fears that China could use the turbines for military purposes. Both Germany and the EU aim to reduce risks from economic ties with Beijing. China opposes the politicization of business cooperation and hopes for a fair business environment.
Departments advised against blanket approval of Chinese FDI
There must be review and monitoring, including through robust IT tools and databases, when it comes to FDI from countries of concern, highly placed sources told ET. Once a system is in place, disposal of cases should take place through a time-bound mechanism, sources pointed out.
Only comprehensive reform can enable UNSC to effectively manage global conflicts: India
India has urged for urgent reforms to the UN Security Council as the United Nations approaches its 80th anniversary next year, emphasizing the need to expand both its permanent and non-permanent categories to manage current global conflicts more effectively. This call was made by Pratik Mathur, Minister in India's Permanent Mission to the UN, during a UN General Assembly debate on the Annual Report of the UN Security Council.
Assange's plea deal sets a chilling precedent, but it could have been worse
Julian Assange, founder of WikiLeaks, has reached a plea deal with prosecutors, affecting American press freedoms but allowing him to walk free after more than five years in British custody. The agreement, concluded on Wednesday in a courtroom in a remote U.S. commonwealth in the Western Pacific, involved Assange pleading guilty to one charge of violating the Espionage Act.
Enemy within? China is buying land around American military bases
China's proximity to military bases within the US, including a nuclear missile base in Wyoming, raises national security concerns. The US government blocked a Chinese-backed cryptocurrency mining firm from owning land near Francis E. Warren Air Force Base in Wyoming, citing it as a 'national security risk'. The order required the divestment of property operated as a crypto mining facility near the base.
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US slaps sanctions on leaders of Russia software firm Kaspersky Lab
US imposes sanctions on Kaspersky Lab leaders, bans antivirus sales, citing national security risks and Russian government control.
Kremlin slams US ban on cybersecurity firm Kaspersky
The Kremlin on Friday criticised the US decision to ban Moscow's cybersecurity firm Kaspersky over security concerns as creating "unfair competition" from American companies. "Kaspersky Lab is a company which is very, very competitive on the international level," Kremlin spokesman Dmitry Peskov said.
Cybersecurity firm Kaspersky denies it's a hazard after the US Commerce Dept bans its software
The Moscow-based company - whose CEO Eugene Kaspersky is Russian - said in a statement that the Commerce Department's decision would not affect its ability to sell and promote its cyber security products and training in the U.S. Kaspersky said the government had based its decision on the "geopolitical climate and theoretical concerns" rather than independently verifying if there was a risk.
Sikh extremists on Canada's no-fly list lose appeal, court sees 'reasonable grounds' for terror concern
A Canadian court has upheld the no-fly designations of Sikh extremists Bhagat Singh Brar and Parvkar Singh Dulai, dismissing their appeal as there are "reasonable grounds" to suspect they pose a security threat. The court found that the Secure Air Travel Act is justified in preventing potential terrorism offenses while respecting rights.
Keen to learn about financial markets? Sebi rolls out free investor certification exam
Developed in collaboration with the National Institute of Securities Markets (NISM), this voluntary certification aims to help investors assess their knowledge of markets and investing. It is designed to provide individuals with comprehensive insights into investing in the Indian securities markets.
Israeli strike on UNRWA school in Gaza 'kills at least 40' Palestinians
Israeli Air Force jets struck a Hamas compound inside a UNRWA school in Nuseirat, central Gaza Strip, overnight, killing at least 40 people, including 14 children and 9 women, and injuring 74 others. The IDF stated the strike targeted terrorists involved in the October 7 attack in southern Israel. Hamas condemned the strike as a premeditated crime. Gaza's Health Ministry reported over 36,654 deaths and 83,309 injuries since October 7, with 68 killed and 235 injured in the past 24 hours. The closure of the Rafah border has left 25,000 needing medical evacuation.
Some Indian brokers impose higher trading margins to withstand election volatility
Some large Indian brokerage firms have asked clients to furnish higher margins against trades this week to limit the risk of default ahead of the results of India's national elections, due on Tuesday.
Retail investors' participation in F&O trading surges due to quick profit potential: Experts
Finance minister Nirmala Sitharaman and chief economic advisor V Anantha Nageswaran have recently flagged the growing risk of F&O trading for retail investors. In November 2023, Sebi chief Madhabi Puri Buch also cautioned investors against heavy bets on F&O
Congress leader Rahul Gandhi writes to Prez Droupadi Murmu on Agnipath scheme, urges her to intervene
Congress leader Rahul Gandhi on Saturday wrote to President Droupadi Murmu against the Agnipath scheme, alleging there is "discrimination" in the nature and extent of benefits given to the families of slain soldiers. Urging the president to intervene, Gandhi said an "exception is warranted in this case" as she is the Supreme Commander of the Armed Forces of India and the issue affects national security.
US shifts focus to China risks; Zelenskiy arrives at Asia defence meeting
Ukrainian President Volodymyr Zelenskiy is anticipated to attend the Shangri-La Dialogue security conference in Singapore this weekend, according to six sources. This comes as Ukraine faces renewed aggression two years after Russian forces invaded. Security assistance for Ukraine is expected to be a key topic at the conference, with attendees including U.S. Defense Secretary Lloyd Austin and Chinese Defense Minister Dong Jun.
Chinese firms turn from ‘Panda’ to ‘Skunk’ as US tensions flare
Chinese investments in the US have trailed behind smaller economies like Spain and Singapore in recent years, according to the US Bureau of Economic Analysis.
Agniveer scheme introduced to avoid pension to soldiers: Shashi Tharoor
Congress leader Shashi Tharoor has criticised the BJP-led Centre for the Agniveer scheme, claiming it is a short-term military recruitment scheme to avoid pensions for soldiers. Tharoor argued that the government sends young recruits to the borders after six months of training and leaves them unemployed after four years. He cited the scheme's potential to damage the Indian Army's reputation and the country's unstable borders.
France's Macron urges a green light for Ukraine to strike targets inside Russia with Western weapons
French President Emmanuel Macron urged Western allies to allow Ukraine to strike Russian military bases using long-range weapons provided by the West. Macron's call, echoed by NATO Secretary-General Jens Stoltenberg, comes amid Ukraine's struggles due to delayed military aid and shortages. While Western leaders have been cautious, fearing escalation, Macron emphasized targeting only Russian bases launching attacks on Ukraine. The U.S. remains hesitant, maintaining restrictions on using its weapons to strike inside Russia. Recent European pledges include significant military support from Belgium, Spain, and Sweden.
OpenAI forms AI safety committee after key departures
OpenAI, the company behind ChatGPT, announced the formation of a new safety committee on Tuesday, weeks after the departures of key executives raised questions about the firm's commitment to mitigating the dangers of artificial intelligence. The committee's formation comes on the heels of recent executive departures that stoked concerns about OpenAI's AI safety priorities.
National security has become crucial to many economic transactions: Jaishankar
Rooting for multipolarity and the role of India, the minister said, "The transformation of India is critical to strengthening multipolarity in Asia itself, a prerequisite for a multipolar world. India's growing weight will ensure that the overall balance in the world order remains in favour of freedom, openness, transparency and a rules-based order."
China's $538 billion deposit exodus charges bonds rally
The nation's total deposits slumped by $538 billion, or 1.3%, in April as investors looked for higher returns elsewhere and policymakers cracked down on companies that took advantage of preferential deposit rates to park cash at banks. One-year deposits at China's largest banks pay a record-low of just 1.45%. The rush of funds into higher-yielding assets indicates efforts by Chinese policymakers to boost risk appetite are starting to bear fruit, though the money has yet to translate into a jump in consumer spending or stock investment.
Indian firms should use 'national security filter' in business dealings with China: S Jaishankar
External Affairs Minister S Jaishankar emphasized the importance of a "national security filter" for Indian businesses dealing with China amid the ongoing border tensions. He urged Indian firms to prioritize sourcing from domestic manufacturers but did not entirely prohibit dealings with China. Jaishankar highlighted concerns over the weaponization of economic activity by certain countries, citing instances of political pressure exerted through exports, imports, and tourism stability.
Saudi King Salman’s health, Iran President Raisi’s death spur succession bets
The death of Iranian President Ebrahim Raisi has not significantly altered the regime's trajectory, with little hope for political reform or reduced hostility towards the US and its allies, according to Western officials. The focus has shifted to succession planning, especially given the aging Supreme Leader Ayatollah Ali Khamenei. However, Iran's detente with Saudi Arabia is expected to continue, as is its support for regional proxies. In Saudi Arabia, Crown Prince Mohammed bin Salman's ascension to the throne is expected to maintain continuity in oil policy and regional relations.
Israel vows to broaden Rafah sweep amid heavy fighting in parts of Gaza
Israel broadened its military operation in Gaza, focusing on Rafah to dismantle Hamas and rescue hostages. Battles intensified in Jabalia, Wadi Al-Salqa, and Al-Karara. U.S. urged targeted strikes on Hamas militants. Gaza medics reported 23 casualties.
China plans to float nuclear reactors in disputed South China Sea, analysts see it 'risky for environment'
China's development of marine nuclear power platforms in the South China Sea raises concerns for regional stability and security. The US warns of the risks posed by China's plans to power disputed islands with floating reactors. Analysts highlight the potential for radiation leaks, weaponization, and security implications in the region.
Explainer: What risks do advanced AI models pose in the wrong hands?
Biden administration takes steps to safeguard U.S. AI from China and Russia by regulating advanced models. Concerns arise over deepfakes, misinformation, biological and cyber weapons, with potential threats from hacking groups and foreign governments.
NPCI beefs up infosec team with two senior appointments
NPCI appoints Benjamin Ambrose as CISO and Pravin Kumar as CMISO to enhance security and compliance. Formerly from Amazon and Citibank, they strengthen security standards, manage risks, and engage stakeholders for secure digital payment solutions.
China says AUKUS risks nuclear proliferation in Pacific
China's foreign minister criticized the AUKUS security pact, accusing Western powers of causing division and nuclear proliferation risks in the South Pacific. During his visit to Papua New Guinea, Wang Yi condemned the agreement between the US, UK, and Australia, which aims to provide Australia with nuclear-powered submarines. He emphasized that AUKUS goes against a South Pacific treaty banning nuclear weapons in the region and could destabilize the area. Wang's remarks reflect China's efforts to counter US and Australian influence in the Pacific Islands, which are strategically significant despite their small populations.
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