Russia’s overheated economy is squeezing one of Moscow’s key trading channels with China

By Business Insider

One of Russia’s key trading channels with China is facing serious snags. That is a result of burdens stemming from Russia’s war-driven economy, which have fuelled a big slowdown in the nation’s rail industry – a vital means of trade between Moscow and Beijing.

Russia’s rail industry is in its worst slowdown since the Great Financial Crisis, with the downtrend “still going strong”, according to an analysis from the Russian research firm MMI Research.

Freight volume transported by Russian Railways, Russia’s state-owned rail system, slumped 5 per cent in the first 11 months of 2024 compared with the same period last year, according to MMI data cited by Bloomberg.

The slowdown is driven in part by Russia’s need to ship war-related materials, which have worsened supply bottlenecks and slowed the trade of key commodities, such as coal and aluminium, the outlet reported.

Investment in Russia’s railways is also being slashed, partly due to high interest rates in the nation, according to a report from the state-owned Tass news agency. Russian Railways said it would earmark just 890 billion roubles, or US$8.5 billion, for its investment programme next year, a 30 per cent cut from investment in 2024, Tass reported.

The firm is considering whether it should cut investment by another third until the end of the decade, the Russian news outlet Kommersant reported. Russian Railways did not immediately respond to a request for comment from Business Insider.

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Chocolate maker Cadbury ‘disappointed’ at losing royal warrant under King Charles

By Agence France-Presse

Chocolate firm Cadbury said on Monday it was “disappointed” after losing its royal warrant for the first time in 170 years following King Charles’ first review of the coveted list since becoming monarch.

Campaign group B4Ukraine earlier this year urged the king to remove companies “still operating in Russia” following its invasion of Ukraine.

It singled out Mondelez International which owns Cadbury as well as Bacardi, Nestle and Unilever, the maker of the UK’s love-it-or-hate-it breakfast spread, Marmite.

Cadbury was among 100 firms including Unilever missing from a new list of 386 royal warrant holders, although Bacardi and Nestle retained their warrants.

Not all those absent from the latest list, published by the Royal Warrant Holders Association, were necessarily actively removed, and instead may have ceased trading or not applied.

The review of royal warrants follows Charles’ accession to the throne in September 2022 on the death of his mother Queen Elizabeth.

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This cute California squirrel hides a secret: It’s a vicious predator

By dpa

The California ground squirrel seems innocent. A familiar sight to hikers, the plump rodent can often be seen contentedly chewing on grass, seeds and berries.

But according to recently published research, wildlife biologists have documented a fierce feature of the creature: It is a committed carnivore, hunting and feasting on unlucky little voles.

Like a rodent version of the notoriously violent 1969 film The Wild Bunch, extensive video footage recorded at the Briones Regional Park in the San Francisco Bay Area offers repeated evidence of the squirrels’ savagery.

Squirrels chase voles – small rodents that are relatives of lemmings and hamsters – then catch and pummel them until they’re a bloody pulp.

Like cats, the squirrels sometimes let the mortally wounded creature limp off. Then they pounce again. Even as the vole squirms, clinging to life, they take a bite.

It’s been known that California ground squirrels won’t pass up an easy meal of meat. Prior research found clues of ingested voles, as well as quail eggs, insects and shellfish.

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US launches trade investigation into China’s ‘legacy’ semiconductor chips

By Mark Magnier

The White House on Monday announced a trade investigation into “legacy” semiconductors made by China, less than a month before the new administration of president-elect Donald Trump takes power, that could impose additional tariffs on Chinese-made every day US consumer goods from cars to coffee makers.

The probe falls under Section 301, a tool named after a part of the US Trade Act of 1974 that allows Washington to challenge imports on national security grounds. Given the last-minute timing, it will be up to the Trump administration whether to pursue the probe after taking over on January 20.

The investigation by the US Trade Representative could give Trump a launch pad to further his threat to impose up to 60 per cent tariffs on all Chinese imported goods that he outlined during his election campaign.

“This investigation underscores the Biden-Harris administration’s commitment to standing up for American workers and businesses, increasing the resilience of critical supply chains, and supporting the unparalleled investment being made in this industry,” said US Trade Representative Katherine Tai in a statement.

The trade agency added that “evidence indicates” that China seeks to dominate domestic and global chip markets through extensive anticompetitive and non-market means. These include setting and pursuing market share targets, it added.

China’s acts, policies, and practices threaten to hurt the US and allied economies and undercut US economic security, it added.

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Luigi Mangione pleads not guilty to murder in killing of United Healthcare’s Brian Thompson

By Associated PressReuters

The man accused of fatally shooting the CEO of UnitedHealthcare pleaded not guilty on Monday to murder and terror charges in a state case that will run parallel to his federal prosecution.

Luigi Mangione, 26, was shackled and seated in a Manhattan court when he leaned over to a microphone to enter his plea.

The 11-count indictment includes three murder charges, including murder as an act of terrorism.

His initial appearance in New York’s state’s trial court was pre-empted by federal prosecutors bringing their own charges over the shooting. The federal charges could carry the possibility of the death penalty, while the maximum sentence for the state charges is life in prison without parole.

Prosecutors have said the two cases will proceed on parallel tracks, with the state charges expected to go to trial first.

Authorities say Mangione gunned down Brian Thompson as he was walking to an investor conference in midtown Manhattan on the morning of December 4.

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Hong Kong airport told to step up train safety after girl’s platform gap fall

By Ng Kang-chung

Authorities have ordered the operator of Hong Kong airport to step up safety measures for its driverless trains after a child stepped into the gap between the platform and a carriage last year but was quickly pulled out by other passengers.

The Airport Authority said that while it had found no evidence of a cover-up of the accident by staff, it had taken disciplinary action against the relevant staff for not being alert enough to report the incident in time and document it properly.

The government, which said it was highly concerned about the accident, announced on Monday that it had finished a review of an investigation report and related supplementary information submitted by the authority.

The incident took place in November last year when a girl, said to be about five or six years old, reportedly stepped into the gap at a platform while boarding a train of the airport’s automated people mover (APM).

An authority investigation found that the girl was immediately pulled out of the gap by other passengers. The train’s operation was not interrupted and carriage doors closed as scheduled. The safety mechanism was not triggered.

The authority did not receive a complaint or injury report filed by the girl’s family.

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China-born biologist Wang Cunyu returns from decades in US to head advanced institute

By Dannie Peng

Distinguished biologist Wang Cunyu has left the University of California, Los Angeles and joined Peking University to head its Institute of Advanced Clinical Medicine (IACM).

Wang – who left China in 1990 and has been in the United States for more than three decades – delivered a speech as the institute’s newly appointed head at a conference last week to mark the body’s anniversary on December 18, the Peking University Health Science Centre said on Friday.

Wang was quoted as saying that it was his great honour and responsibility to return to his alma mater and develop the institute.

He said he would lead the team to “take root in clinical needs, make full use of the unique advantages of cross-disciplines and bridge the gap between basic research and clinical application”, and would devote himself to building the institute into a major force in global medical innovation.

Previously, Wang was a professor and associate dean for graduate studies at the UCLA school of dentistry, and the first person to hold the school’s Dr No-Hee Park Endowed Chair in Dentistry. He is also a professor in the department of bioengineering and a member of the university’s cancer centre.

According to the UCLA’s website, his research focuses on three areas related to human health and medicine. These include molecular signalling, epigenetics – the study of how behaviour and environment can affect gene activity – and therapeutics of oral, head and neck cancer.

Wang was born in 1963 in Xinghua in eastern China’s Jiangsu province. He studied at Nanjing Medical University and Peking University’s school of dentistry, where he obtained his undergraduate and doctoral degrees in 1985 and 1989 respectively.

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EU tariffs a factor as value of Chinese electric vehicle exports falls 42%

By Mia Nulimaimaiti

The value of China’s electric vehicle exports plunged last month to their lowest level since July 2022, driven by tariff challenges in Europe, large declines in shipments to emerging markets and intensified price cuts.

Exports were worth US$1.58 billion in November, according to the latest detailed customs data. In July 2022 they were worth US$1.4 billion.

In year-on-year terms, electric vehicle exports were down 42 per cent by value last month, the steepest decline since April 2022, when global supply chains were disrupted by the coronavirus pandemic lockdown in Shanghai and the conflict in Ukraine. By volume, exports were down 19 per cent last month, indicating that falling prices were a big factor in the larger decline in export value.

Liang Yan, an economist at Willamette University in the US state of Oregon, said the decline was largely due to the European Union’s implementation of tariffs at the end of October, as the bloc now accounted for around a quarter of the total value of China’s electric vehicle exports, as well as weakening shipments to emerging markets.

The value of electric vehicle exports to the EU dropped 36 per cent year on year in November, while export volume declined by 23 per cent. On October 31, the bloc began to enforce new import tariffs of up to 45 per cent on electric vehicles produced in China.

Exports to emerging markets also fell, with the value of China’s electric vehicle exports to members of the Association of Southeast Asian Nations last month down by a quarter year on year and those to Latin America plunging 47 per cent.

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Hong Kong launches facial recognition tech for entry to street in border town

By Johnny Wan

Hong Kong authorities have launched a facial recognition pilot scheme to allow permit holders to enter part of a restricted town on the border with mainland China without showing any documents.

No 2 official Eric Chan Kwok-ki, who officiated the opening ceremony of the revamped Chung Ying Street checkpoint in Sha Tau Kok on Monday, said authorities hoped to improve efficiency for those living and working there.

“Through this [facial recognition] pilot scheme, we hope to use innovative technology to replace manual checks and provide convenience to people going in and out the checkpoint,” the chief secretary said.

“This can raise the checkpoint’s capacity in handling commuters and showcase Hong Kong’s level of digital technology as an international metropolis.”

A permit is needed to enter Chung Ying Street, a shop-lined avenue jointly governed by Shenzhen and Hong Kong authorities. Most permits are held by those living there or working in its stores.

The street is part of the Sha Tau Kok border town, which has been closed off to most outsiders since the 1950s as part of colonial government efforts to combat illegal immigration, smuggling and spies.

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Why Afghanistan is once again a hotbed of terrorism

By Chris Fitzgerald

The Taliban is under pressure, facing an increasing number of attacks from terror groups seeking to undermine its rule and destabilise Afghanistan. However, this is a problem of the Taliban’s own making.

The Taliban’s acting refugee minister Khalil Ur-Rahman Haqqani was killed in a suicide bombing earlier this month. Taliban government spokesperson Zabihullah Mujahid called the bombing, which reportedly killed and wounded several other ministry employees, a “cowardly attack”.

Haqqani is the highest-ranking leader in the Taliban-led administration to be killed since the group re-took power in August 2021. He is the brother of Jalaluddin Haqqani, founder of the Haqqani Network, and uncle of acting interior minister, Sirajuddin Haqqani.

The family are key power brokers in Afghanistan, viewed as a more pragmatic faction vying for influence against the more extreme elements of Taliban leadership, who adhere to a strict interpretation of Islam.

Islamic State Khorasan (or Isis-K) quickly claimed responsibility for the suicide bombing this month, reportedly saying that its agent Abu Usman Khorasani evaded security to kill Haqqani. The group is an offshoot of Islamic State and seeks to create a caliphate across South and Central Asia.

Since 2021, the Taliban has claimed to have improved the security situation in Afghanistan by reining in Isis-K but the facts on the ground tell a different story.

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Head of Taiwan’s third political party Ko Wen-je set to resign over corruption probe

By Lawrence Chung

The leader of the party that holds the balance of power in Taiwan’s legislature is set to step down.

Ko Wen-je was one of the candidates for the island’s top job in January’s election but has since been arrested on corruption charges, throwing the future of the Taiwan People’s Party – which he founded in 2019 on promises of clean governance – into question.

Ko has been held incommunicado for over 100 days without being formally charged. He is accused of accepting bribes during his time as Taipei mayor between 2014 and 2022.

On Friday a district court in Taipei said it had approved Ko’s request to send a resignation letter to the party, adding that this would not prejudice his case.

However, TPP officials said they had yet to receive Ko’s resignation letter and criticised the court for overstepping its authority by suggesting the resignation would take effect automatically upon submission.

“So far, we have not received any resignation letter from Chairman Ko,” said TPP secretary general Vincent Chou on Monday. “Even if we do, we will make every effort to persuade him to stay.”

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Can cultural exchanges fix ‘ambiguity and uncertainty’ in China-India ties?

By Maple Leung

China and India should work harder to promote exchanges and bridge the perception gap between two countries, according to a leading Chinese expert on South Asia.

Zhang Jiadong, director of the South Asian Studies Centre at Fudan University, said the level of people-to-people and cultural exchanges between China and India lagged “far behind”, considering the strength and international status of the two Asian powers.

This has resulted in “ambiguity and uncertainty” in their understanding of each other, Zhang said in an article published in the Global Times on Monday.

“This problem needs more frequent people-to-people and cultural exchanges to alleviate it,” he wrote.

The scholar noted that after years of tensions as a result of conflicts along their disputed Himalayan border, a lack of robust exchanges between China and India had contributed to misunderstandings as these exchanges were vital for fostering mutual trust.

Zhang’s commentary came as he and other Chinese scholars, including those from the Tibetan Academy of Social Sciences, wrapped up talks with a delegation from the India Foundation – a think tank affiliated with India’s ruling Bharatiya Janata Party – in China’s Tibet autonomous region.

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Singapore invokes fake news law against Bloomberg, 3 others over bungalow sales article

By Kimberly Lim

Singapore’s law ministry has invoked the fake news law against Bloomberg and three other news sites for publishing false information regarding the transparency of good-class bungalow (GCB) transactions.

The ministry said in a statement on Monday that Bloomberg published false statements that “attack the transparency of property transactions in Singapore”.

“Together, these falsehoods give the impression that Singapore does not have a robust legal framework to require disclosure of information to the government in GCB transactions, which may allow wrongdoing to take place undetected. It is in the public interest that these falsehoods are addressed so that public confidence in the government is not undermined.”

Apart from Bloomberg, the correction order was also issued to The Edge Singapore, The Independent Singapore and The Online Citizen.

The four news sites are required to carry correction notices against their original articles and social media posts, stating that they contained false statements of fact, and provide a link to the government’s clarification.

The Edge Singapore and Independent Singapore have published correction notices and removed their articles, while The Online Citizen carried the correction notice but its article is still online, according to checks by This Week in Asia.

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