SILK ROAD
Donald Trump booed and heckled by raucous crowd at Libertarian convention
At the Libertarian National Convention, Donald Trump faced boos and heckling from attendees displeased with his past COVID-19 policies. Despite some support, most libertarians criticized him for rushing the vaccine and not opposing health restrictions. Trump's appeal for unity against Biden received mixed reactions. He promised to commute Ross Ulbricht's life sentence if re-elected, gaining significant applause. Trump's appearance highlights his concern over third-party candidate Robert F. Kennedy Jr., who also seeks libertarian support.
Bitcoin Pizza Day and the rise of crypto commerce
Bitcoin Pizza Day celebrates the first real-world Bitcoin transaction in 2010 when Laszlo Hanyecz, a programmer, paid 10,000 Bitcoins for two Papa John's pizzas. This event marked the rise of crypto commerce, as highlighted by Mr. CEO & Co-founder of Mudrex, a Global Crypto Investment Platform.
View: Chabahar, port of a smart call
Investing in Chabahar presents its own set of obstacles. The progress in the region has been hindered by US sanctions over the years. Since 2018, India has refrained from importing significant amounts of heavy Iranian crude and faced challenges in providing financial aid for the construction of the Chabahar-Zahedan railway in 2020 due to sanctions. Energy trade has long been the cornerstone of India-Iran relations, and this shift has temporarily strained bilateral ties.
The high price of slow lanes: How transport networks can make or mar the success of manufacturing hotspots
With India increasing the focus on exports, manufacturing hubs in the hinterlands have started playing a bigger role in powering the growth engine. However, these regions continue to face connectivity problems that make it difficult for traders to competitively price the goods in export markets.
Saudi Arabia plans big investment in Central Asian hub of Uzbekistan
The 3rd Tashkent International Investment Forum (TIIF) attracted significant global investor interest, resulting in agreements worth $26.6 billion. The event saw over 2.5 thousand participants from 93 countries. Key highlights included presentations of regional energy projects and agreements signed for various projects. These included infrastructure development, wind farms, heat supply system modernization, sugar production, textile manufacturing, and food processing. The forum also discussed economic development, supporting small and medium-sized businesses, retail trade challenges, digital technology integration, and urban planning.
Nowruz 2024: Google doodle celebrates the arrival of spring and Persian New Year
Google celebrated Nowruz 2024, the Persian New Year, with a lively Google Doodle created by Iranian artist Pendar Yousefi. This Doodle encapsulated Nowruz's essence, marking the start of spring and renewal. Nowruz, deeply rooted in Zoroastrianism, is a significant festival observed by millions globally along the Silk Roads. The Doodle showcased Persian cultural elements like floral designs and the Haft-sin table, symbolizing rebirth and prosperity.
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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.
Nepal & China to sign implementation plan of Beijing-backed BRI projects: Nepal's Deputy PM
Deputy Prime Minister Narayan Kaji Shrestha announced that Nepal and China will soon sign the implementation plan of the Belt and Road Initiative. This agreement comes nearly seven years after the two countries signed a memorandum of understanding for ambitious infrastructure projects in Nepal. The signing of the implementation plan is crucial for negotiating and executing projects under the initiative.
Armenian PM indicates peace treaty with Azerbaijan on cards
Armenian Prime Minister Nikol Pashinyan has expressed the possibility of a peace treaty with Azerbaijan in the coming months, amid fears of renewed conflict. Pashinyan outlined key peace principles, including mutual recognition of territorial integrity and border delimitation based on the 1991 Alma Ata Declaration.
China ramps up yuan internationalisation under Belt and Road Initiative
China is leveraging loans from its Belt and Road Initiative (BRI) to promote the yuan internationally and boost its share of global payments. During the recent Belt and Road Forum, China's policy banks signed yuan-denominated loan contracts with foreign lenders, aiming to increase the acceptability of the yuan for trade settlements. The yuan's share of global payments reached a record high of 3.71% in September, up from 1.91% in January.
China's Xi promises more market openness and new investments for Belt and Road projects
At the forum's opening ceremony at the cavernous Great Hall of the People, Xi promised two Chinese-backed development banks - the China Development Bank and the Export-Import Bank of China - will each set 350 billion yuan (USD 47.9 billion) financing windows, while an additional 80 billion yuan (USD 11 billion) will be injected into the Silk Road Fund to support BRI projects.
How China's Belt and Road Initiative is changing after a decade of big projects and big debts
China's Belt and Road Initiative (BRI) is set to become smaller and greener following concerns over debt and the environment. The initiative, which involved building power plants, roads, railroads, and ports worldwide, has deepened China's global relations but raised environmental concerns and left countries in debt.
How China's Belt and Road Initiative is changing after a decade of big projects and big debts
China's Belt and Road Initiative (BRI) is set to become smaller and greener as the country aims to address concerns about debt and the environment. The BRI, which has built infrastructure projects around the world, has deepened China's relations with various regions. However, it has also faced criticism for leaving countries in debt and causing environmental issues. Going forward, future BRI projects are expected to be smaller and rely more on investment by Chinese companies rather than development loans. China has also pledged to stop building coal power plants overseas and is encouraging green transition projects.
What is China's Belt and Road Initiative?
A decade since its launch, the Belt and Road Initiative has yet to entice significant Western engagement.
Taliban to join China's Belt and Road forum, elevating ties
The Taliban will attend China's Belt and Road Forum, demonstrating Beijing's growing ties with the administration. While the Taliban has attended regional meetings in the past, this is one of the most high-profile multilateral summits they have been invited to. Haji Nooruddin Azizi, the Taliban's acting minister for commerce and industry, will travel to Beijing to attend the forum and invite large investors to Afghanistan.
China to host Belt and Road forum October 17-18: State media
Chinese President Xi Jinping will attend the opening ceremony and deliver a keynote speech.
Bengaluru to get 190-km tunnel road. Which areas will be covered?
Bengaluru tunnel road project: We have selected the Ballary Road, OMBR Road, ST Mall Junction to Mekhri Circle, Miller Road, Chalukya Road, Trinity Circle, Sarjapur Road, Hosur Road, Kanakapura Road to Krishna Rao Park, Mysuru Road to Sirsi Circle, Magadi Road, Tumakuru Road to Yeshwantpur Junction, Goraguntepalya, K.R. Puram, Silk Board Junction areas in Bengaluru, Karnataka deputy CM Shivakumar explained.
Maritime and land routes not distinct but part of silk roads ecosystem: Peter Frankopan
"Certainly, massive new investment in infra, energy, transport and communications can, and will, help boost trade even further. But this is a proposed stimulus to something that already exists. The Middle East is already home to a large Indian diaspora, and there are very close trade ties already; the same with Europe," Frankopan said.
China says it welcomes India-Middle East-Europe Economic Corridor so long it doesn't become a geopolitical tool
China has welcomed India-Middle East-Europe Economic Corridor, as long as it is not used as a geopolitical tool. The Chinese Foreign Ministry stated that they support initiatives that aid in infrastructure development and promote connectivity and common development.
Italian PM tells China's premier of plan to quit Belt and Road Initiative
Italian Prime Minister Giorgia Meloni has announced Italy's plan to withdraw from the Belt and Road Initiative (BRI) during a meeting with Chinese Premier Li Qiang at the G20 summit, as per media reports in Italy. Italy aims to replace its involvement in the BRI by revitalizing a strategic partnership agreement with China, signed in 2004. Italy is the only G7 nation to have joined the BRI
China says 90 countries have confirmed attendance for Belt and Road Initiative
China has announced that 90 countries have confirmed attendance for its Belt and Road Initiative conference in October. The third Belt and Road Forum for International Cooperation will be held in Beijing and is expected to attract several foreign leaders, including Serbian President Aleksandar Vucic and Argentine President Alberto Fernandez.
China state media says developed nations not shunning Belt and Road Forum
Chinese state media on Saturday rejected a Western claim that developed nations were shunning the country's Belt and Road Forum, while saying most of the leaders invited this year were from developing nations. Critics see the ambitious Belt and Road initiative - billed as recreating the ancient Silk Road to boost global trade infrastructure - as a tool for President Xi Jinping's China to spread its geopolitical and economic influence.
China to work with Pakistan to build CPEC into 'exemplary project': Xi
Chinese President Xi Jinping has promised to strengthen the China-Pakistan Economic Corridor (CPEC), a flagship project under the Belt and Road Initiative (BRI), despite an economic crisis in Pakistan. During the disputed CPEC project's 10th anniversary event, Xi said that the Pakistan-based project provided a positive foundation for regional integration and demonstrated China's friendship with the country, adding that China would continue standing "firmly with Pakistan regardless of international changes".
China launches platform to promote its soft power in Nepal
The projects—clubbed under a platform called the ‘Silk Roadster’—were launched earlier this month to commemorate the 10th anniversary of Chinese President Xi Jinping’s most important initiative, the BRI.
Environmental damage from Belt and Road Initiative projects on rise
China's Belt and Road Initiative (BRI) projects have caused significant damage to the environment across all countries where they were implemented, according to various reports. The projects have exacerbated climate change in vulnerable regions by increasing pollution and causing water and soil shortage.
US lays claim to $1 billion in bitcoin stolen from Silk Road
In the second largest seizure in Department of Justice history, law enforcement seized the 50,000 Bitcoin during a November 2021 search of the Gainesville, Georgia, home of James Zhong.
Taliban say Afghanistan secure enough for big projects
Foreign aid stopped when the Taliban took over Afghanistan in August 2021. World governments piled on sanctions, halted bank transfers and froze billions more in Afghanistan's currency reserves. Taliban-appointed government spokesman Zabihullah Mujahid said Afghanistan has the opportunity to connect with the rest of the countries in the region, highlighting China as a key part of the nation's economic development.
Vladimir Putin, Xi Jinping hail 'great power' ties at talks defying West
"China is willing to make efforts with Russia to assume the role of great powers, and play a guiding role to inject stability and positive energy into a world rocked by social turmoil," Chinese President Xi Jinping told his Russian counterpart Vladimir Putin at the talks. Chinese state broadcaster CCTV also quoted Xi as saying China was willing to work with Russia to support "each other's core interests".
China reportedly investing $ 8.43 bn in Africa as part of Digital Silk Road initiative
As part of this strategy, the Chinese government is recommending its tech giants – Huawei, ZTE and Cloudwalk to enter into mobile telephony, social media and e-commerce applications in Africa, according to experts on Sino-African ties.
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