DIRS.INFO The most relevant business & tech news

"Given the events, their relationship with the Syrian defence ministry is now over." Mali authorities did not respond to a request for comment on the flights and whether any Wagner fighters had been redeployed from Syria to Mali. Wagner fighters secured Syrian oilfields and Western officials say Wagner is linked to Evro Polis, a company that profits from those assets. Reuters was unable to determine the fate of those commercial interests in the wake of the Russian defence ministry's moves against Wagner in Syria and Russia. In the wake of the Wagner uprising, Syria's leadership quickly restated publicly the importance of its military alliance with Russia.

Persons: Wagner, Nawar Shaban, Yevgeny Prigozhin, Bashar al, Assad, Vladimir Putin, Prigozhin, Russian Wagner, Evro Polis, Asmaa al, Laila Bassam, Tom Perry, Ed McAllister, Joanna Plucinska, Mike Collett, White, Daniel Flynn Organizations: Omran Center, Strategic Studies, Syrian Republican Guard, Republican Guard, Reuters, Russian Reconciliation Center, Moscow State University, Thomson Locations: BEIRUT, Moscow, Syria, Russian, Russia, Istanbul, Damascus, Ukraine, Belarus, Syrian, Syria's, Homs, Hmeimim, Latakia, Bamako, West African, Mali, Evro Polis, Libya, elswhere, Africa, Western, U.S, Deir, Beirut, London

☆ Explainer: How is extreme weather testing China's climate resilience?
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +5 min

BEIJING, July 5 (Reuters) - Dramatic swings between extreme heat and intense rainfall are testing China's ability to cope with increasingly wild weather, as high temperatures challenge power grids and water security while floods ruin crops and threaten urban populations. The average number of high-temperature days stood at 4.1 in January-June, already higher than the full-year average of 2.2 days. Heatwaves spur demand for electricity to cool homes, malls and offices, taxing power supply and even triggering blackouts. Factories also shut when power demand exceeds supply to meet demand from residential and non-industrial users. The southern province of Hunan, which produces around 13% of China's rice, has been hit by continuous rain since late June.

Persons: Qiaoyi Li, Ethan Wang, Qin, Ryan Woo, Andrew Hayley, David Stanway, Sonali Paul Organizations: Factories, Thomson Locations: BEIJING, China, Beijing, Yunnan province, Yunnan, Sichuan, Hunan, Zhengzhou, Guangxi, CHINA

☆ Foxconn to invest $246 mln in 2 projects in northern Vietnam
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

HANOI, June 30 (Reuters) - The world's largest contract electronics maker and assembler, Foxconn (2354.TW), has received approval from Vietnam to invest $246 million in two new projects its northern province of Quang Ninh, the local authority said on Friday. The projects, by its unit Foxconn Singapore, will raise total investments by Foxconn in Vietnam to about $3 billion and will centre on the manufacture and assembly of telecom and electric vehicle (EV) parts, the provincial government said. The remaining $46 million is for a plant to produce electronics and telecommunication components, with production set to begin in October 2024. Foxconn, which has been in Vietnam for nearly two decades, also plans to set up a new factory in the central province of Nghe An. with an initial investment of $100 million, the provincial local authority said last month.

Persons: Foxconn, Phuong Nguyen, Khanh Vu, Martin Petty Organizations: Foxconn, Thomson Locations: HANOI, Vietnam, Quang Ninh, Singapore, Hanoi, Foxconn, Nghe

☆ China and Pakistan sign $4.8 billion nuclear power plant deal
▼ + stars: | 2023-06-20 | by ( ) edition.cnn.com time to read: +2 min

Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally. Pakistan’s total nuclear energy production capacity rose to 1,400 mw, when the country’s sixth nuclear power plant opened two years ago. It is unclear whether the new investment is part of the $65 billion that China has pledged in infrastructure building for Pakistan under its Belt and Road Initiative. Instead, he said, the Chinese had disbursed an initial $104.53 million (30 billion Pakistani rupees) to start the project. CNN has reached out to China National Nuclear Cooperation and the Chinese Ministry of Foreign Affairs for comment.

Persons: Shehbaz Sharif, Sharif, ” Sharif Organizations: PTV, China National Nuclear Cooperation, Pakistan Atomic Energy Commission, “, Initiative, CNN, Chinese Ministry of Foreign Affairs Locations: Pakistan, China, Punjab, Karachi

ISLAMABAD, June 20 (Reuters) - Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally. Pakistan's total nuclear energy production capacity rose to 1,400 mw, when the country's sixth nuclear power plant opened two years ago. Located in the southern port city of Karachi, that 1,100 mw plant was also constructed with Chinese assistance. It is unclear whether the new investment is part of the $65 billion that China has pledged in infrastructure building for Pakistan under its Belt and Road Initiative. Instead, he said, the Chinese had disbursed an initial 30 billion Pakistani rupees ($104.53 million) to start the project.

Persons: Shehbaz Sharif, Sharif, Asif Shahzad, Simon Cameron, Moore Organizations: PTV, China National Nuclear Cooperation, Pakistan Atomic Energy Commission, Initiative, Thomson Locations: ISLAMABAD, Pakistan, China, Punjab, Karachi

☆ Three die, farmland and trees damaged as storms sweep across China
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 11 (Reuters) - Three people died in eastern China after strong winds toppled a shipyard crane, authorities said on Sunday, as storms caused damage across the country, including large swaths of farmland. In Nanjing, the capital of Jiangsu province in eastern China, large trees were felled on Saturday, crushing vehicles and blocking roads, local media reported. The measures include 275 million yuan for prizes to family farms and cooperatives to encourage high yield, CCTV reported. On Friday, heavy rain hit parts of southwest China, including Guangxi, engulfing roads and partially submerging buildings. ($1 = 7.1273 Chinese yuan renminbi)Reporting by Ellen Zhang and Martin Quin Pollard; William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Hailstorms, Ellen Zhang, Martin Quin Pollard, William Mallard Organizations: Twitter, CCTV, Liaoning Meteorological Service Centre, Thomson Locations: BEIJING, China, Wuhu, Nanjing, Jiangsu, Liaoning, Wafangdian, Henan, Guangxi, rainstorms, Guangdong, Hainan, Hubei, Guangzhou

☆ Heavy 'dragon boat water' rains hit southwest China, some cities flooded
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 9 (Reuters) - Non-stop heavy rains lashed parts of southwest China on Friday, triggering floods in cities, engulfing roads and partially submerging buildings. A particularly harsh first bout of summer rains known locally as "dragon boat water" saw the city of Beihai in Guangxi log 453 millimetres on Thursday. Rain is forecast to continue in southern China over the coming days while the northeast is also expected to be hit by sudden thunderstorms, the weather bureau reported. China, prone to floods, is increasingly warning of more extreme weather due to climate change. The central province of Henan, the granary of China, was recently struck by heavy rainfall that caused crops to sprout or be hit by blight, triggering concerns about food security.

Persons: Ella Cao, Ryan Woo, Edwina Gibbs Organizations: China Meteorological Administration, Thomson Locations: BEIJING, China, Beihai, Guangxi, Yulin, Henan

☆ Farm animals, crops suffer from extreme weather affecting China
▼ + stars: | 2023-06-02 | by ( Laura He | ) edition.cnn.com time to read: +6 min

This year, extreme heat has ravaged many parts of the country even earlier than last year. Animals killedIn recent days, reports of farm animals killed by extreme heat have dominated the news. The pigs suffocated to death amid extreme heat and poor air circulation, Jimu News, a government-owned news website, cited an unnamed employee at the farm as saying. The heat wave was blamed for killing large numbers of farmed carp living in rice fields in the southwestern region of Guangxi. And more extreme weather events are likely to come.

Persons: Sheng Xia, El, El Niño, ”, Sheng, Wang Gang, Niño, Xi Jinping, Shi Guangming Organizations: Hong Kong CNN, China Meteorological Administration, Citic Securities, “, El, World Meteorological Organization, Qiushi, Communist, Villagers, China Today, China Media Group Locations: Hong Kong, China, Yunnan, Sichuan, El, Shanghai, Beijing, Jiangsu, Guangxi, Henan, Pingdingshan, Henan province, Xinjiang

☆ Canada sends military to help battle blazes in Nova Scotia
▼ + stars: | 2023-06-01 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

[1/2] Smoke from the Tantallon wildfire rises over houses in nearby Bedford, Nova Scotia, Canada, May 28, 2023. Nova Scotia is battling two large fires that are threatening communities on the outskirts of the provincial capital, Halifax. The armed forces would provide equipment and personnel to relieve firefighters "who have been working tirelessly around the clock to protect communities right across Nova Scotia", Blair said. The federal government sent the military to Alberta last month to help battle blazes there and Canada is also getting help from other countries. Some 800 U.S. firefighters have come to battle the blazes, mostly in Alberta, with another 100 are scheduled to arrive in Nova Scotia over coming days, officials said.

Persons: Eric Martyn, Bill Blair, Blair, Justin Trudeau, Steve Scherer, Anirudh Saligrama, Sharon Singleton, Robert Birsel Organizations: REUTERS, OTTAWA, CBC News, CBC, Twitter, Thomson Locations: Bedford , Nova Scotia, Canada, Nova Scotia, Halifax, Alberta, Quebec, Australia, New Zealand, South Africa

☆ China's carbon emissions to hit new record in 2023 on economic rebound. But they could peak soon, report says
▼ + stars: | 2023-05-12 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s carbon emissions will likely hit a new record in 2023 on the back of an economic rebound, but a rapid expansion in green energy will enable its emissions to peak soon, a global energy think tank said on Friday. However, the emissions could peak soon, as China has accelerated its clean energy push and installed record amounts of solar and wind power capacity, the analysts pointed out. Coal production surged 11% in 2022 from 2021, according to the National Bureau of Statistics. This will lead to a sharp increase in bank lending and investment, particularly for manufacturing, transportation and energy production, they added. “When low-carbon power growth matches — and then exceeds — the annual increase in electricity demand, the sector’s CO2 emissions will peak,” they said.

☆ Floods and high winds hit Mozambique as record-breaking cyclone Freddy nears
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +3 min

MAPUTO, March 11 (Reuters) - Cyclone Freddy was settling off the coast of Mozambique on Saturday, bringing flooding and high winds to Quelimane two weeks after killing at least 27 people in southern Africa when it first made landfall last month. After swirling for 34 days straight, the weather system is likely to have broken the record for the longest-lasting tropical cyclone. The cyclone is slow-moving, which meteorological experts say means it will pick up more moisture off the sea, bringing heavy rainfall. More than 171,000 people were affected after the cyclone swept through southern Mozambique last month, bringing heavy rains and floods that damaged crops and destroyed houses, with OCHA putting its death toll at 27 so far -- 10 in Mozambique and 17 in Madagascar. More than half a million people are at risk in Mozambique this time, especially around in Zambezia, Tete, Sofala and Nampula and Zambezia provinces.

☆ China's so desperate to boost its birth rates, it's even cracking down on customary betrothal gifts for brides to help people get married more easily
▼ + stars: | 2023-03-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's cracking down on the custom of the "bride price" to facilitate marriages and boost birth rates. These betrothal gifts include cash, jewelry, cars, and even real estate. A delegate from the state-backed All-China Women's Federation proposed that authorities look into measures to curb expensive betrothal gifts, the women's rights organization said in a Wednesday statement. Still, nearly three-quarters of marriages involve the custom of betrothal gifts, according to a 2020 survey of 1,846 China residents by Tencent News. This is because betrothal gifts — which are typically given after negotiations between the two families — can include cash, jewelry, cars, and even real estate, according to the Tencent News survey.

☆ Philippines to deploy underwater vehicle to pinpoint location of stricken tanker
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +3 min

[1/2] A view of an oil spill at a beach in Caluya, Philippines March 4, 2023 in this still image obtained from social media video. A remotely operated autonomous vehicle would be deployed to help determine the exact location of the tanker, it said. Authorities want to know how much oil is inside and how to pump the remainder out and stop any leaks, experts said. The tanker's owner has contracted local agencies, Harbor Star Shipping Services and Malayan Towage and Salvage Corp., for the cleanup. If sea conditions are bad, it is also unsafe for our contractors to work," Rodrigo Bella, vice president of Harbor Star, told the media briefing.

☆ Cuba blasts US govt for granting asylum to pilot of stolen plane
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +1 min

HAVANA, March 1 (Reuters) - Cuban authorities have accused the U.S. government of being "complicit in piracy" for granting political asylum to a pilot who fled to Florida on a small "kidnapped" plane last October. In a statement late Tuesday, Cuba's foreign ministry said it had summoned Washington's charge d'affaires in Havana to communicate Cuba's "protest" to the asylum granted to the Cuban pilot, arguing he violated regulations. The Cuban ministry said it had made four requests to the U.S. to "return" the 29-year-old pilot and the aircraft, a Russian-made Antonov An-2 single-engine used for fumigating crops, owned by the national air service company. The Caribbean nation's authorities warned that the U.S. decision could encourage similar unlawful acts with negative repercussions for the national security of both countries. Reporting by Nelson Acosta; Writing by Valentine Hilaire Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ China provinces top list of world's most climate-vulnerable regions - data
▼ + stars: | 2023-02-20 | by ( David Stanway | ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 20 (Reuters) - China is home to 16 of the 20 global regions most vulnerable to climate change, according to data published on Monday, with some of the world's most important manufacturing hubs at risk from rising water levels and extreme weather. The data showed that some of the engine rooms of the global economy face catastrophic hazards such as rising sea levels, river flooding and wildfires, which could also depress property prices and deter investment, XDI said. "We're already feeling the significant impacts of weather events around the world, and they will only increase," XDI Chief Executive Rohan Hamden told reporters. "Finally, we just want to make sure that every investment decision is made in a climate-resilient way." The shift of global manufacturing to Asia has driven a substantial increase in infrastructure investment in already vulnerable regions throughout China, making it more susceptible to the impacts of climate change, Hamden said.

☆ South Korea court orders first compensation for Vietnam war victim
▼ + stars: | 2023-02-07 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

SEOUL, Feb 7 (Reuters) - A South Korean court ordered the government on Tuesday to compensate a Vietnamese victim of atrocities during the Vietnam War in the 1970s, when about 300,000 South Korean troops fought alongside U.S. forces. The ruling marked the first legal acknowledgement of South Korea's liability for atrocities during the war and could potentially pave the way for other victims to seek compensation. The Seoul Central District Court ordered the government to provide around 30 million won ($23,800) in compensation and additional funds for delay to Nguyen Thi Thanh, a survivor of killings of civilians by South Korean troops. A court official confirmed the decision but said the full verdict was not immediately available for release. Hanoi's foreign ministry did not immediately respond to a request for comment.

☆ Ukrainians trying to clear land mines turn to Cambodia for help
▼ + stars: | 2023-01-17 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

PHNOM PENH, Cambodia — Fifteen Ukrainian deminers are being trained by experts in Cambodia who are among the world’s best because of experience from clearing the leftovers of nearly three decades of war. The Ukrainian deminers are being hosted by the Cambodian Mine Action Center, a government agency that oversees the clearing of land mines and unexploded ordnance in Cambodia. Cambodia was littered with land mines and other unexploded ordnance after almost three decades of war ending in the late 1990s. Cambodian Prime Minister Hun Sen pledged in a telephone conversation with Ukrainian President Volodymyr Zelenskyy in November to send Cambodian demining experts to help train their Ukrainian counterparts. Several other countries, including the United States and Germany, have already provided Ukraine with demining assistance.

☆ COVID wave past its peak in many parts of China - state media
▼ + stars: | 2023-01-10 | by ( Bernard Orr | ) www.reuters.com time to read: +4 min

BEIJING, Jan 10 (Reuters) - Many parts of China are already past their peak of COVID-19 infections, state media reported on Tuesday, with officials further downplaying the severity of the outbreak despite international concerns about its scale and impact. One official was quoted as saying nearly 90 million people had already been infected in Henan province. On Tuesday, a Health Times compilation of reports from local government officials and health experts across the country, suggested the COVID wave may be past its peak in many regions. Yin Yong, acting mayor of Beijing, was cited as saying the capital was also past its peak. Separately in the state-run China Daily, a prominent health official said the percentage of severe cases remained unclear.

Nanjing, a historic city in eastern China, vowed to ensure daily supplies of fever medicines. The rapid spread of the virus across China has left many pharmacies sold out of medication to treat COVID-19. A major Chinese pharmaceutical company said this week that it expects the shortage of fever medicines to ease soon as manufacturers ramp up production. The Haikou-based drug manufacturer said there was a “short-term” shortage of its fever and cold medicines mostly due to hoarding. Tech giant Tencent announced this week that it had rolled out a program via its social messaging app Wechat allowing people to share surplus fever medicines.

☆ Debt woes and zero-Covid: China's cities are running out of cash to pay huge bills
▼ + stars: | 2022-12-02 | by ( Laura He | ) edition.cnn.com time to read: +9 min

They spent 11.8 trillion yuan ($1.65 trillion) more than they raised in revenue between January and October, borrowing heavily to do so, according to data from China’s Ministry of Finance. Andy Wong/AP‘Widest in history’For nearly three years, local governments have borne the brunt of enforcing pandemic controls. The weak fiscal position of local governments has been a drag on the country’s overall financial standing. Kevin Frayer/Getty ImagesLow income, high costsWhy are local governments in this parlous state? In May, Beijing told local governments that they had to bear the costs for regular Covid testing in their regions.

☆ China’s Zhengzhou, home to world’s largest iPhone factory, ends Covid lockdown
▼ + stars: | 2022-11-30 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the site of “iPhone City,” a sprawling manufacturing campus owned by Taiwanese contract manufacturer Foxconn that normally houses about 200,000 workers churning out products for Apple (AAPL), including the iPhone 14 Pro and 14 Pro Max. The troubles started in October when workers left the campus in Zhengzhou, the capital of the central province of Henan, due to Covid-related fears. Total iPhone 14 Pro and 14 Pro Max shipments in the current quarter would be 15 million to 20 million units less than previously anticipated, according to Kuo. Due to the high price of the iPhone 14 Pro series, Apple’s overall iPhone revenue in the current holiday quarter could be 20% to 30% lower than investors’ expectations, he added.

☆ Apple has a huge problem at Foxconn's iPhone factory in China
▼ + stars: | 2022-11-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +5 min

“Every week of this shutdown and unrest we estimate is costing Apple roughly $1 billion a week in lost iPhone sales. Now roughly 5% of iPhone 14 sales are likely off the table due to these brutal shutdowns in China,” he said. Security forces clash with workers during a protest outside Apple supplier Foxconn's factory in Zhengzhou, China, on November 23. Covid outbreakEarlier this month, Apple said shipments of its latest lineup of iPhones would be “temporarily impacted” by Covid restrictions in China. Even before this week’s demonstrations, Apple had started making the iPhone 14 in India, as it sought to diversify its supply chain away from China.

Hong Kong/Beijing CNN Business —More than 100,000 people have signed up for a massive recruitment drive by Apple’s supplier Foxconn for the largest iPhone factory in China, according to Chinese state media. And our hiring process is now closed temporarily,” a Foxconn executive, Yang Han, in Zhengzhou told state news outlet Yicai on Thursday. Some local governments in Henan have recently also asked community officials to join the production line themselves, according to multiple Chinese state media reports. Several unidentified such officials, also known colloquially as local “grassroots officials,” or “cadres,” told state media publication Cailian Press Tuesday that they were told to work at the Zhengzhou campus from one to six months. “We now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated,” the tech giant said in a statement earlier this month.

☆ Vingroup, Gotion start building $275 mln battery plant in Vietnam
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

HANOI, Nov 18 (Reuters) - VinES Energy Solutions, a unit of Vietnam's largest conglomerate Vingroup JSC (VIC.HM) and China's Gotion High-Tech (002074.SZ), have commenced construction of a $275 million battery factory in the Southeast Asian country, Vingroup said on Friday. The factory in the central province of Ha Tinh will annually produce 30 million lithium iron phosphate (LFP) battery cells, the company said in a statement. The cells will be used for electric vehicle batteries and energy storage systems, it said, adding that the factory is scheduled to start production in the third quarter of next year. The factory will help meet the battery needs of VinFast, an electric vehicle production arm of Vingroup, it said. Reporting Phuong Nguyen; Writing by Khanh Vu; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Binance founder Changpeng 'CZ' Zhao wants to 'rebuild' crypto post FTX collapse
▼ + stars: | 2022-11-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Hong Kong CNN Business —Binance founder and CEO Changpeng Zhao is once again in the global spotlight, this time as the self-appointed white knight of crypto as the industry is embroiled in crisis. “Let’s rebuild.”Humble beginningsZhao launched Binance in July 2017 in China, gradually building it into the world’s largest crypto exchange. Binance CEO Changpeng Zhao attending the Viva Technology conference in Paris on June 16, 2022. In May, TerraUSD lost its dollar peg, which led to the collapse of its sister token and eventually created a huge global liquidity crisis in the crypto industry. The Binance chief said his firm had been asked to help as FTX grappled with liquidity issues.

Search resuls for: "Central Province"

25 mentions found