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☆ China to close airspace north of Taiwan April 16-18, sources say
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - China is planning to close the airspace north of Taiwan from April 16 to 18, four sources with knowledge of the matter said, a move that could disrupt flights around the region. China and Taiwan's foreign ministries did not immediately respond to requests for comment. It comes as China rounds off several days of military training around self-ruled Taiwan, a response to Taiwan President Tsai Ing-wen's recent meeting with U.S. House Speaker Kevin McCarthy in California which infuriated Beijing. One senior official with direct knowledge of the matter said the flight ban would affect 60%-70% of flights going between Northeast Asia and Southeast Asia, as well as flights between Taiwan and South Korea, Japan and North America. Reporting by Yimou Lee in Taipei and Sakura Murakami and Tim Kelly in Tokyo; Editing by Jacqueline Wong and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

NEW DELHI/LONDON, April 6 (Reuters) - Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. The ban comes on top of a halt late last year on Russian crude sales into the bloc as well as Western price caps. Also in March, Russian clean products shipped to Togo reached 973 million MT-NM, up from zero in November. Conversely, Russian exports to the Netherlands dropped to 238,200 tonnes in February from 1.15 million tonnes in September. Those longer distances are being done at higher costs for Russian products than for typical shipments from Europe.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

☆ US amphibious assault ship joins drills in South Korea
▼ + stars: | 2023-03-23 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

BUSAN, South Korea, March 23 (Reuters) - South Korean and U.S. troops launched their largest amphibious landing drills in years involving a U.S. amphibious assault ship, officials said on Thursday, a day after North Korea tested four long-range cruise missiles. About 12,000 sailors and marines from the two countries will take part, as will 30 warships, 70 aircraft and 50 amphibious assault vehicles, the South Korean military said. Hours before the ship docked, North Korea fired four cruise missiles off its east coast, South Korea said, in apparent protest of ongoing drills by the U.S. and South Korea. The ship's welldeck, which can be flooded to provide direct access to the sea, allows it to launch and recover landing craft and other amphibious vehicles, the U.S. military said. South Korea and the U.S. say the exercises are purely defensive.

☆ Hong Kong is giving out 500,000 free plane tickets. I tried to get one as a Singapore resident and ended up stuck in a waiting room behind 50,000 people.
▼ + stars: | 2023-03-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Sponsored by Hong Kong's airport authority, the giveaway involves the distribution of 500,000 airline tickets via three of the city's carriers: Cathay Pacific, Hong Kong Airlines, and Hong Kong Express. Residents in Singapore quickly snapped up all 12,500 free round-trip tickets Cathay Pacific was giving out on Thursday. Those interested need to apply for a free Cathay Pacific membership on its website and answer three quiz questions about Cathay Pacific correctly, according to SCMP. Budget carrier Hong Kong Express is slated to join the campaign later, but it hasn't released details. Hong Kong Airlines did not immediately respond to Insider's requests for comment.

☆ How China is helping to prop up the Russian economy through the war in Ukraine
▼ + stars: | 2023-02-22 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China has been buying more energy from Russia since the Ukraine war started. Total trade between China and Russia hit a new record high in 2022, up 30% to $190 billion, according to Chinese customs figures. In particular, the energy trade has risen markedly since the onset of the war. Russian companies have been using more yuan to facilitate the increased trade with China. UnionPay, the Chinese payments system, has reportedly stopped accepting cards issued by Russian banks over fears of international sanctions, according to Russian paper Kommersant.

☆ Hong Kong is offering free flights to tourists across the globe, following years of COVID restrictions
▼ + stars: | 2023-02-02 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +2 min

Hong Kong will offer 500,000 flights to tourists all over the world, the city announced Thursday. The tickets will be distributed by Hong Kong Express, Cathay Pacific, and Hong Kong Airlines starting March 1, according to TimeOut. Hong Kong followed China's zero-COVID policy through most of the pandemic, before loosening rules last year, Reuters reported. As part of the announcement Thursday, Lee said Hong Kong will begin to host sporting and other cultural events, while highlighting its culture, Reuters reported. "We have to let outsiders know that Hong Kong has a unique status, especially when the 'one country, two systems' principles will be implemented in Hong Kong for a long time," he said.

LONDON, Jan 17 (Reuters) - Northwest Europe is half-way through the winter heating season and gas inventories are at a record high following an extended period of exceptionally mild temperatures since the middle of December. Market-driven high prices have significantly reduced gas and electricity consumption by major industrial customers and more modestly by residential and commercial users. By Dec. 19, Frankfurt had experienced a total of 675 heating degree days, very close to the long-term average of 682. Between Dec. 19 and Jan. 15, however, the region experienced an exceptional and extended period of much warmer temperatures that reduced heating demand significantly. Cumulative heating demand so far this winter was 20% below the long-term seasonal average by Jan. 15 compared with a 5% deficit by Dec. 19.

☆ Explainer: How will Japan resolve shipping insurance for Russian LNG imports?
▼ + stars: | 2022-12-29 | by ( Yuka Obayashi | ) www.reuters.com time to read: +6 min

Japan's Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance told shipowners last week that from Jan. 1 they would stop offering insurance coverage for ship damage caused by war in Russian waters, because reinsurers were withdrawing coverage. Japan receives 9% of its imported LNG from Sakhalin-2, which is owned by Gazprom (GAZP.MM) and Japanese trading houses. Loss of supply from Sakhalin-2 could send Japanese power and gas utilities such as JERA and Tokyo Gas Co Ltd (9531.T) scrambling for alternatives. It has had to persuade G7 partners to give it leeway so it could keep importing Russian LNG, and after the Russian government decided in June to seize control of Sakhalin-2, Japanese trading houses had to agree to remain as shareholders of the new Russian operator. read more"The top priority now is to secure marine war insurance," a senior official at the industry ministry said.

☆ The US military is planning for a 'transformative' year in Asia as tensions with China continue to rise
▼ + stars: | 2022-12-27 | by ( Christopher Woody | ) www.businessinsider.com time to read: +8 min

Amid rising tensions with China, the US military has sought to bolster its presence in Asia. US forces there may see the "most transformative year" in a generation in 2023, a US official said. Major changes to the US military presence in Asia face logistical and political hurdles, however. Other countries have sought more training with the US military or, in the case of Palau, to host US forces. There are opportunities for the US "to expand its access and deepen relationships" in both Northeast and Southeast Asia, said Thompson, a former US Defense Department official, but US leaders will have to reckon with the limits of those partnerships, especially in Southeast Asia.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones -sources
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

A source who was present at the weapons discussions said they involved the Ministry of Public Security and Ministry of National Defence. A second person familiar with the matter said talks on drones and helicopters began before the arms fair and have involved more weapons. The U.S. embassy in Hanoi declined to comment, but Ambassador Marc Knapper has said the U.S. stood ready to discuss any military item Vietnam might want to acquire. Sources and analysts said Vietnam is also considering deals with suppliers from Israel, India, and European and Northeast Asian countries. In the last decade, Israel has been the second-biggest seller of weapons to Vietnam after Russia.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

☆ U.S. forces launch space unit in South Korea amid North's growing threats
▼ + stars: | 2022-12-14 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

Forces Korea launched a new space forces unit on Wednesday as the allies ramp up efforts to better counter North Korea's evolving nuclear and missile threats. The U.S. Space Forces Korea is the second overseas space component of the U.S. Space Force and is tasked with monitoring, detecting and tracking incoming missiles, as well as bolstering the military's overall space capability. South Korea's air force also set up its own space unit this month to bolster its space power and operation capability together with the U.S. Space Force. Beijing has warned Seoul against joining a U.S.-led global missile shield, and criticised the THAAD U.S. missile defence system installed in South Korea. Seoul's defence ministry said the creation of the U.S. space component had nothing to do with South Korea's participation in existing missile defence programmes.

☆ North Korea's flurry of missile tests has South Korea talking about the nuclear option
▼ + stars: | 2022-11-23 | by ( Robert Kelly | ) www.businessinsider.com time to read: +6 min

North Korea has done dozens of missile tests this year, including an ICBM test last week. We should always keep talking to North Korea — it is too dangerous to ignore — but there is little realistic hope that North Korea will deal profoundly with its nukes or missiles at this point. South Koreans watch a news report on North Korean missile tests. The current South Korean president, Yoon Seok-yeol, suggested, as a candidate, that South Korea might preemptively air-strike North Korean missile sites in a crisis. The South Korean conservative party has suggested that South Korea should withdraw from the NPT if the North conducts a seventh nuclear test.

☆ U.S. calls for U.N. Security Council president's statement on North Korea missiles
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +4 min

The U.S. ambassador to the United Nations, Linda Thomas-Greenfield said it was vital the 15-member Security Council respond with one voice and reiterated U.S. charges that China and Russia were "emboldening" Pyongyang by blocking council action. The United States will be proposing a Presidential Statement to this end," she said, referring to North Korea by the initials of its official name, the Democratic People's Republic of Korea. He said Washington should take the initiative and put forward realistic proposals to respond to North Korea's "legitimate concerns." A spokesperson for the U.S. mission to the United Nations said a draft president's statement would be shared with the Security Council soon and negotiations would follow. It said the Council must act to limit the advancement of North Korea's weapons programs.

☆ US-China meeting in Bali lays groundwork for stronger economic ties
▼ + stars: | 2022-11-15 | by ( Laura He | ) edition.cnn.com time to read: +5 min

That helps explain why expectations for Monday’s meeting between President Joe Biden and Chinese leader Xi Jinping on the sidelines of the G20 summit were set so low. But to the surprise of many, the meeting featured televised images of smiling officials, handshakes, and a commitment to reopening lines of communication on urgent global issues. Analysts said the meeting could lay the groundwork for stronger ties between the world’s top economic powerhouses. Speaking after the three-hour meeting, Biden described it as an “open and candid” discussion, saying he planned to manage the China relationship “responsibly.”“We’re going to compete vigorously, but I’m not looking for conflict,” Biden told reporters. “The meeting met or exceeded the low expectations set by the Biden administration and was a mild positive for global stability,” he said.

☆ Factbox: Top takeaways from the Biden-Xi meeting in Bali
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +4 min

Xi too was explicit about Taiwan, calling it the "first red line" that must not be crossed in China-U.S. relations. The White House said Biden and Xi agreed to "deepen constructive efforts" to address issues such as climate change, health and food security. But according to the White House statement, Biden and Xi "underscored their opposition to the use or threat of use of nuclear weapons in Ukraine". Biden told reporters after the meeting there was no need for concerns about a new Cold War between the United States and China. At the same time, Biden warned Xi that such actions by North Korea would result in bolstered U.S. and allied military capabilities in Northeast Asia.

☆ Analysis: Sanctions fail to halt North Korea's accelerating weapons programs
▼ + stars: | 2022-11-04 | by ( David Brunnstrom | ) www.reuters.com time to read: +7 min

Biden administration officials concede that sanctions have failed to stop North Korea's weapons programs - but they maintain they have at least been effective in slowing North Korea's nuclear program. The Security Council has imposed sanctions on North Korea since 2006 to choke off funding for it nuclear and ballistic missile programs. However U.N. experts regularly report that North Korea is evading sanctions and continuing to develop its programs. Some critics like sanctions expert Joshua Stanton fault both the Trump and Biden administrations for failing to exert maximum pressure to stop China allowing North Korea's sanctions evasion. He rejected the idea that Washington should recognize North Korea as a nuclear-armed state.

Xi Jinping consolidated his power in China with a reshuffle of the politburo standing committee. He also used the event to unveil the new members of the politburo standing committee. He is a new entry to the standing committee, and at 60, is its youngest member. He is another new member of the politburo standing committee and will help lead the central commission for discipline inspection. He previously worked as the party leader in Yan'an, which once served as the headquarters of the party before it took control of the whole country.

☆ Ding Xuexiang: from Xi staff chief to ruling elite
▼ + stars: | 2022-10-23 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

SHANGHAI, Oct 23 (Reuters) - Chinese President Xi Jinping on Sunday made his chief of staff, Ding Xuexiang, one of the most powerful men in China, in a move party watchers say underscores the importance Xi puts on trust and loyalty. "Ding is effectively Xi's chief-of-staff and is almost always by his side. It is clear that Xi has trusted Ding's loyalty and ability," he said. It is possible that Ding has influenced Xi to promote more technocrats to leadership positions at the ministerial and vice-ministerial level," Thomas said. In speeches this year Ding repeatedly urged party cadres to demonstrate loyalty and unity as well as rectify problems to ensure the smooth execution of the Party Congress.

Promoted despite facing difficulties in leading China's capital, Cai is much like another Xi ally elevated to the Standing Committee, Shanghai Party Secretary Li Qiang. Cai and Li on Sunday joined a long list of Shanghai and Beijing Party bosses that have been promoted to the Standing Committee. Cai was promoted in 2014 to general office deputy director at the Beijing-based National Security Commission, a body founded and chaired by Xi. In 2017, just weeks after the 19th Party Congress, Cai faced loud public criticism over the forced eviction of migrant workers on Beijing's outskirts. A decade later, during a Beijing Party committee meeting on cyberspace and ideology hosted by Cai, no mention was made of citizens using social media to hold officials accountable.

BEIJING, Oct 23 (Reuters) - Li Qiang, who oversaw Shanghai's grinding two-month COVID-19 lockdown this year as party boss of China's commercial hub, is on track to become China's next premier after President Xi Jinping unveiled a new governing body packed with loyalists. Current Premier Li Keqiang, a more reform-minded voice, will step down in March after the maximum two terms. "We have not seen Li Qiang introduce any market-oriented reforms," said Lam. In 2015, Li accompanied Xi on a visit to the United States to meet then-President Barack Obama. In Seattle with Xi, Li gave a speech calling for more cooperation between Zhejiang and U.S. firms.

☆ China's economy is 'in deep trouble' as Xi heads to Communist Party congress
▼ + stars: | 2022-10-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“Xi’s leadership is not causal for China’s economic rise,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy. Bloomberg/Getty ImagesThe International Monetary Fund recently cut its forecast for China’s growth to 3.2% this year, representing a sharp slowdown from 8.1% in 2021. Under Xi, China has not only become more insular, but has also seen the fraying of US-China relations. He is expected to secure an unprecedented third term in power at the Communist Party Congress that begins on Sunday. “Moreover, growth is not the only source of legitimacy and support for the Communist Party, and Xi has increasingly burnished the Communist Party’s nationalist credentials to appeal to patriotism as well as pocketbooks,” he added.

☆ Ding Xuexiang: from Shanghai party cadre to Xi gatekeeper
▼ + stars: | 2022-10-11 | by ( Brenda Goh | ) www.reuters.com time to read: +4 min

Alongside China's top diplomats was Ding Xuexiang, who has risen from Communist Party cadre in Shanghai to become Xi's private secretary and gatekeeper. Ding, 60, is considered a leading candidate for promotion this month to the Politburo Standing Committee, the party's seven-member ruling echelon, despite lacking experience as a provincial-level party secretary or governor. He eventually succeeded the General Office's then-head, Li Zhanshu, who is currently China's top legislator and at 72 is expected to retire from the Standing Committee. Given the opacity of Chinese politics and Ding's roll as a background player, there is even less known about him than other leading Standing Committee prospects. In speeches this year Ding repeatedly urged party cadres to demonstrate loyalty and unity as well as rectify problems to ensure the smooth execution of the Party Congress.

☆ China's top leaders are set for a reshuffle. Here are the names to watch
▼ + stars: | 2022-10-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

China's top leadership team around President Xi Jinping is set to change this month at a twice-a-decade congress. One of the most closely watched changes in the political reshuffle is the future of Premier Li Keqiang, who turned 67 this year. However, he could remain a standing committee member, JPMorgan analysts said, pointing to a precedent at the 15th party congress. Huang Kunming — Politburo member and head of China's propaganda department, who worked closely with Xi in the provinces of Fujian and Zhejiang, the report said. Yang Jiechi, a 72-year-old Politburo member and director of the party's central committee foreign affairs office, is widely expected to retire.

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