"Overseas"  News

Israeli parliament approves contentious suspension bill

The Israeli parliament adopted on late Tuesday night a controversial law allowing lawmakers to suspend their colleagues with a special majority. Lawmakers voted in favor of the contentious "suspension bill" with 62 parliament members voting for it, and 47 lawmakers against it. The law proposal states that a majority of 90 Israeli parliament members (out of an overall 120) can suspend a fellow member for "inciting to racism" and "supporting an armed struggle against Israel." Out of the 90 parliament members needed for the suspension, 10 must be from the opposition, the proposal states. It would come into effect in two weeks' time, to allow lawmakers and organizations to appeal the law to the Supreme Court. The legislation was advanced by Nissan Slomiansky from the nationalistic Jewish Home party, and is thought to be aimed against Arab Israeli parliament members.

2016-07-20 11:59:06

Spotlight: How 3 East Asian countries have overcome middle-income trap

by Fei Liena, Zhang Dailei Japan, South Korea and Singapore took different approaches to overcome the middle-income trap and successfully fostered a stable middle class to form a rugby-shaped society in terms of income. JAPAN: INCOME-DOUBLING PLAN In December 1960, when then Japanese Prime Minister Hayato Ikeda proposed the ambitious "income-doubling plan" aiming at doubling average per capita incomes in 10 years, all people thought it was mission impossible. Starting from 1961, the Japanese government took a series of measures to increase people's income. In agriculture, the government raised the price of farm products and encouraged production efficiency. In industry, the government cut taxes and lowered interest rates to facilitate borrowing and reduce costs. In commerce, the authority pushed trade liberalization and narrowed the salary gap.

2016-05-28 09:49:02

Australian police seize 215 kg drug worth 150 mln USD

About 14 foreigners are facing charges in Australia, after police undertook one of the largest drug seizures in Western Australia's (WA) history on Friday. More than 215 kilograms of crystal methamphetamine, known as "ice" was uncovered by WA Police, after they raided two homes in Perth on Friday morning. The 215 kilograms of ice is the equivalent of 2 million individual portions of the illegal substance, and is said to be worth up to 150 million U.S. dollars on the street. WA Police's Deputy commissioner Gary Dreibergs said the 14 foreigners would be charged over "the biggest methamphetamine seizure in WA this year".

2016-05-27 10:40:14

No decision yet on financing production increase at Tengiz oilfield

The Wellhead Pressure Management Project / Future Growth Project (WPMP / FGP), which will make it possible to significantly increase oil production at the Kazakh Tengiz field, are being considered, but a decision on their financing hasn't been made yet, Tengizchevroil (TCO) Consortium engaged in the development of the field, told Trend. "Large capital projects of the TCO undergo thorough and rigorous consideration to be coordinated with the partners in order to ensure their further safe, profitable and timely implementation," said the consortium. Earlier, Kazakh Energy Minister Kanat Bozumbayev said in an interview with the Wall Street Journal that the TCO Consortium plans to allocate up to $37 billion, starting from 2017 for production build-up at the Tengiz oil field. Implementation of the WPMP / FGP will make it possible to increase Tengizchevroil LLP (TCO) oil production by 12 million tons - up to 38 million tons per year. Implementation of the WPMP envisages the construction of a new system for the collection of the well production, infrastructure and support facilities, construction of a new oil refinery. Due to a sharp fall in oil prices on the world market in February 2015, TCO held optimization of costs for implementation of these projects and recommended the project partners to postpone a final decision on financing.

2016-05-26 10:30:03

Chinese construction industry expects sluggish growth: Moody's

China's construction sector will remain lackluster with slowing revenue growth this year due to ongoing economic hardships, global rating agency Moody's predicted. "The industry will see low-single-digit revenue increase, similar to the 2 percent recorded in 2015 and down from 8.7 percent in 2014," said Lu Chenyi, a Moody's vice president and senior analyst, citing construction companies' large order backlogs and long lead times for project completion. The construction of both residential and commercial buildings will likely be sluggish during the coming 12 to 18 months due to the economic slowdown, moderating property-sales growth and high level of developed but unsold properties in lower-tier cities, Lu said. Despite a surge in property sales in the first quarter, the high inventory has caused property developers to slow the pace of new projects, which means fewer contracts for companies that construct these properties. However, large companies -- especially central state-owned enterprises -- will report strong revenue growth from overseas owing to their technical expertise, strong brand equity, large scale and reputations, Moody's said.

2016-05-24 09:32:11

U.S. Calls for Completing Investment Treaty Talks With China

The U.S. Chamber of Commerce on Wednesday called on the United States and China, the world's two largest economies,to wrap up their investment treaty talks by the end of this year. "China has become a huge and growing market for U.S. businesses, and Chinese investment in the United States has rapidly accelerated," Thomas Donohue, president and CEO of the U.

2016-05-19 12:52:53

Mitsubishi Motors'headquarters complicit in data rigging: transport minister

Following Japan's Land, Infrastructure, Transport and Tourism Industry representatives inspecting Mitsubishi Motors' headquarters on Friday, the automaker's head office along with a subsidiary have now been implicated in the embattled firm's falsification of fuel economy tests. Following the inspection, it was found that a product development official based at the automaker's headquarters in Tokyo had green-lit the fabrication of fuel efficiency data, after being consulted by a manager working for one of the maker's subsidiaries based overseas. Transport minister Keiichi Ishii suggested at a press briefing on Friday that Mitsubishi Motors itself oversaw the data rigging, which had initially been pegged on the parent company's subsidiary. "We want to reveal the headquarters' involvement," Ishii was quoted as telling the briefing, adding that Mitsubishi Motors was now expected to conducted another probe on its data falsification dealings and report its findings next week. Local media said Friday that Mitsubishi Motors used one of its subsidiaries in Thailand to collect favorable fuel efficiency data as the climate in Thailand can help produce better results in resistance tests, with the manager in Thailand alleged to have manipulated the data in February 2013. With Mitsubishi Motors being slammed recently by the government for falsifying data and tests related to the fuel efficiency of some of its minivehicles, possibly since 1981, leading to mass diminishing public trust, Nissan said Thursday that a capital tie-up with the embattled maker would help it to reestablish a firm financial base and offer both parties more growth opportunities.

2016-05-13 11:07:50

Valued 2, 5 million TL narcotic drugs seized in İstanbul

Valued 2.5 million Turkish Lira (TL) narcotic drugs were seized in an operation conducted in Kağıthane, Esenyurt, Avcılar, Bakırköy, Fatih and Küçükçekmece districts of Turkish biggest province of İstanbul. Relating with the drugs 15 out of 20 detainees were taken under arrest following completion of their interrogation held at the court. Over the tip off informing a great deal of drug to be sent to Europe from Turkey, police units from Narcotic Department of Istanbul Police Department was conducted eight different drug operations between the dates of April 28th- May 5th. During the operation a big amount of drug stuffed two suitcases were seized by police units. In the second operation police reached information saying a big amount of drug will be sent to an individual by cargo.

2016-05-09 14:39:24

55 Daesh militants killed by Turkish army

Turkish Armed Forces announced on Sunday that a total of 55 Daesh militants were killed by the security forces as part of overseas operation on Saturday. The explanation said the operation was carried out in northern Aleppo and in the northeastern parts of al-Hisn over gained tip-offs. At the end of shelling of Daesh positions, 55 Daesh militants were seized dead.

2016-05-08 12:18:54

“Professors’ Club” established at UNEC

"Professors' Club" has been established by the Academic Board of Azerbaijan State University of Economics (UNEC). The main goal of founding the "Professors' Club" is to foster advanced ideas in modern society using intellectual potential of professors and doctors of sciences. The members of the club will be able to communicate in non- formal, active and meeting different tastes atmosphere during the relaxation period to share their knowledge, skills and life experiences. The club established by the head of the Department of Finance and Financial Institutions, Dr. of economy Avaz Alakbarov's initiative undertakes the role of the union of domestic and overseas professors and doctors of sciences based on volunteerism and cooperation. To arrange meetings for exchanging views on the achievements of classic and modern sciences, to achieve the integration of club members to international scientific communities, to provide young scientists with comprehensive support and to be represented in different scientific, cultural and public events held in the republic and abroad are the directions of the club's performance.

2016-05-05 11:13:42

Orlando Bloom travelled to conflict-hit eastern Ukraine

UNICEF Goodwill Ambassador Orlando Bloom travelled to conflict-hit eastern Ukraine to raise awareness of the global education crisis facing children in emergencies. Bloom visited children who study in classrooms hit by shells just three kilometres from the frontline of the conflict that broke out more than two years ago. Approximately 580,000 children are in urgent need of aid and more than 230,000 children have been forced from their homes. Around one in five schools and kindergartens in the region have been damaged or destroyed and around 300,000 children are in immediate need of assistance to continue their education. The trip came as new findings show that nearly a quarter of the world’s school-aged children – 462 million – now live in countries affected by crisis. “I met children like 11 year old Liana who hid in the basement of their school for almost two weeks, in freezing conditions, without lighting or heat, while shelling devastated the classrooms above,” said Orlando Bloom, who first travelled to see UNICEF’s work in 2007.

2016-05-04 10:28:13

Police wounded, scores arrested as French labour protests turn violent

Two dozen police officers were wounded Thursday, three of them seriously, as violence flared in protests across France against a hotly contested labour reforms bill. Security forces in Paris responded with teargas as masked youths threw bottles and cobblestones, leaving three policemen with serious injuries, Interior Minister Bernard Cazeneuve said, adding that 24 police were injured overall. Clashes between police and protesters also erupted in the cities of Nantes, Lyon, Marseille and Toulouse, with 124 people arrested nationwide, Cazeneuve said in Lyon. Prime Minister Manuel Valls strongly condemned the unrest, which he blamed on "an irresponsible minority". "They will be brought to justice. Support to the police," he wrote on Twitter.

2016-04-29 11:46:52

Samsung's Q1 profit posts double-digit growth on smartphone sales

Roundup Samsung Electronics' first-quarter operating profit posted a double-digit growth on the back of robust sales of Galaxy S7 smartphones, launched earlier than forecast, the company said on Thursday. Consolidated operating profit reached 6.68 trillion won (5.84 billion U.S. dollars) in the January-March period, up 11.

2016-04-28 09:23:37

Disney's "The Jungle Book" debuts with over 100 mln USD

Disney 3D live-action computer animated film "The Jungle Book" rocketed into the movie theaters of North America with a debut of 103.6 million U.S. dollars in weekend ticket sales, said box office tracker comScore on Sunday. Directed by Jon Favreau, the live action reboot of the famous Disney animated feature opened with the third-highest opening record of the year, for only "Batman V. Superman: Dawn Of Justice" (166 million dollars) and "Deadpool" (132.

2016-04-18 10:00:19

Indonesia trade surplus narrows in March

Indonesia trade balance in March witnessed a lower surplus of 497 million U.S. dollars compared with a 1.15 billion U.S. dollars surplus in February as import's decrease was lower than export's decline, the statistic bureau announced here on Friday.

2016-04-15 14:57:15

Offshore gambling revenue targeted in New Zealand regulation proposals

The New Zealand government is mulling plans to charge overseas gambling firms for bets received from New Zealand as it seeks to stem a decline in betting revenue. Racing Minister Nathan Guy on Friday released proposed changes to the Racing Act designed to ensure returns from betting continue to support New Zealand racing and sport organizations. By law, the New Zealand Racing Board (NZRB) is the only New Zealand-based provider of racing and sports betting via the government-mandated Totalisator Agency Board (TAB) and the NZRB distributes profits back to racing and sports in New Zealand. "A working group has found that a growing number of New Zealanders are gambling through offshore betting agencies, which raises a number of issues," Guy said in a statement. "In 2015, about 40,000 New Zealanders turned over 518 million NZ dollars (356.54 million U.

2016-04-15 12:48:14

Australia to host southern hemisphere's 1st ocean acidification conference

Australia will hold the first "Ocean in a High CO2 World" symposium hosted in the southern hemisphere, with world-leading experts assembling to discuss solutions to the ongoing acidification of the seven seas. The international conference, convened every four years, will be held in the Tasmanian city of Hobart next month and moderated by Australia's respected Commonwealth Scientific and Industrial Research Organisation (CSIRO). The forum is expected to attract around 350 Australian and overseas delegates, exploring the issue's "science and likely impacts" for future generations. Prof. Catriona Hurd, the event's organizer, said acidification of the world's oceans was one of the more tangible impacts of rampant climate change, and the problem would only get worse without reducing our carbon footprint. "This process .

2016-04-13 12:41:18

Hyundai, Kia sell 100 mln vehicles in 54 years after launch

South Korea's top carmaker Hyundai Motor and its affiliate Kia Motors have sold almost 100 million vehicles in 54 years after their establishment, the companies said Monday. The top two South Korean automakers have sold a total of 99.7 million cars in the global market through March since they began selling cars in 1962. Hyundai has sold 64.02 million units, with Kia having sold 35.68 million units.

2016-04-11 11:19:44

Mainland-HK trade down 10 pct in first two months

Trade between the Chinese mainland and the Hong Kong Special Administrative Region (HKSAR) totaled 39.3 billion U.S. dollars in the first two months of this year, down 10.5 percent year on year. Statistics from the Ministry of Commerce (MOC) showed that mainland-Hong Kong trade during the period accounted for 7.

2016-04-03 11:40:13

Falkland Islands Row Reignites as UN Commission Extends Argentine Borders

The debate over the control of the Falkland Islands have been reignited once again after a UN commission decided to extend Argentina's maritime territory to include the disputed South Atlantic archipelago. Officials in Buenos Aires have hailed the decision as a victory, after the UN Commission on the Limits of the Continental Shelf (CLCS) ratified a 2009 Argentinean proposal to extend the limit of the country's territory from 200 to 350 miles form its coast. "This is a historic occasion for Argentina because we've made a huge leap in the demarcation of the exterior limit of our continental shelf," foreign minister Susana Malcorra said. "This reaffirms our sovereignty rights over the resources of our continental shelf." While the decision doesn't grant Argentina sovereignty over the islands, it looks set to spark debate about control of the Falklands, which are self-governing but rely on Britain for defense and foreign affairs issues. Despite British control of the islands, Argentina also lays claim to the archipelago, which it calls Las Malvinas.

2016-04-02 10:47:09

Huawei 2015 profits up 33 percent

China's leading telecommunications company, Huawei Technologies, reported on Friday that its profits leapt 33 percent last year, driven by smartphone sales. The private company said in its annual report that its net profits rose to 36.9 billion yuan (6.13 billion U.S. dollars) in 2015 and its global revenue grew to 395 billion yuan, up 37 percent year on year.

2016-04-01 09:28:09

China urges Japan to do more for regional peace and stability

A Chinese Foreign Ministry spokesperson said on Monday that China hopes Japan will do much more for regional peace and stability. Spokesperson Hong Lei made the remarks in response to reports that Japan on Monday had switched on a radar station on Yonaguni Island in Okinawa Prefecture. The new Self Defence Force base on the island of Yonaguni is only about 150 km from China's Diaoyu Islands. "China has a clear and consistent stance on the East China Sea and Diaoyu Islands issues," Hong said, expressing his hope that Japan can do more to benefit regional peace and stability. When asked to comment on Japan's controversial new security-related legislation, which will become effective Tuesday, Hong said that due to historical reasons, military and security policy moves by Japan have been watched closely by the country's Asian neighbors and the international community. The new security legislation gives the green light to Japan's Self-Defense Forces (SDF) to engage in armed conflicts overseas for the first time since the end of WWII.

2016-03-28 14:50:24

Top court releases reasoned decision on MİT law amendment case

The Constitutional Court has published its reasoned decision on a case in which it annulled two articles of a controversial legal amendment granting sweeping powers to the National Intelligence Organization (MİT), citing among other things the ability of such agencies to undertake intermediary roles in diplomatic issues as the reason behind the decision to uphold some of the amendments. The reasoned decision, published in the Official Gazette on Tuesday, concerns a petition filed by the main opposition Republican People's Party (CHP) in 2014 to annul an amendment to Law No. 6532 on State Intelligence Services and the National Intelligence Organization, granting sweeping powers to the spy agency including the immunity of MİT agents from legal proceedings. According to the decision, intelligence agencies are no longer just responsible for intelligence gathering operations but can also act as intermediaries in certain diplomatic issues. This is a nod in the direction of one of the articles endorsed by the Constitutional Court -- Article 3 Paragraph (a) -- which gives the organization the right to hold talks with all groups, including terrorist organizations that pose a threat to national security. The article has been criticized for providing legal grounds for the Oslo talks, a series of meetings held secretly between senior operatives of the terrorist Kurdistan Workers' Party (PKK) and MİT officials in Oslo in 2010 in an attempt to mediate a solution to the country's Kurdish problem.

2016-03-02 19:19:51

Dündar calls his release a defeat for Erdoğan as he faces another probe

The Cumhuriyet daily's Editor-in-Chief Can Dündar, who was freed on Friday after 92 days in jail following a Constitutional Court ruling, has said his release is a "clear defeat" for President Recep Tayyip Erdoğan, even as the pro-government Yenişafak daily has claimed that Dündar will be summoned to testify as part of another investigation into him. Dündar and the newspaper's Ankara representative Erdem Gül were arrested last November for a report on alleged illegal arms transfers to Syria. Both were freed on Friday. Speaking at a news conference in İstanbul, Dündar said he would defy an order to surrender his passport and would attempt to travel overseas. According to Yenişafak, İstanbul Deputy Chief Public Prosecutor İrfan Fidan, who is overseeing the probe into the report on the alleged arms transfer to Syria, has launched a separate investigation into Cumhuriyet's report. The daily claims that there are allegations that Dündar sold his house, which is worth TL 1.

2016-03-02 19:18:18
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