logo
Myanmar's China challenge: Air Force looses Chinese origin fighter aircraft due to tech failure

Myanmar's China challenge: Air Force looses Chinese origin fighter aircraft due to tech failure

Time of Indiaa day ago

Myanmar Air Force
has yet again lost a Chinese origin fighter jet in a crash due to technical failure raising serious concerns over quality of defence equipment produced by Beijing.
A
F-7 fighter jet
of Myanmar Air Force or MAF (F7 is the predecessor of JF17) crashed in Pale Township of Sagaing Region on June 10 wherein one pilot was killed in the crash.
MAF attributed crash attributed to mechanical failure, but People's Libration Army (PLA), a Resistance Group, has claimed that they shot down fighter jet by using Machine Gun during a battle. However, PLA version is under question mark.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Unsold Container Homes in Davao Oriental - Prices You Won't Believe!
Shipping Container Homes | Search Ads
Search Now
Undo
Experts said the June 10 incident showed vulnerability of Chinese weapon systems being sold to developing countries including Myanmar and Pakistan.
Earlier frustrated with quality of Chinese origin equipment, the Myanmar Air Force last year acquired six
Sukhoi Su-30 SME
fighter jets from Russia. The Chinese origin JF-17 Thunder fighters with MAF have been facing major technical trouble.
Live Events
The Myanmar Air Force acquired the Russian warplanes under a $400 million contract signed in 2018 and the jets were commissioned at the Meiktila Air Base in Mandalay on December 15, 2024.
The Su-30SME fighters can be be a shot in the arm for the Myanmar Air Force to turn the tide against the rebel groups which have captured territories along the border with India among other areas in the country.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

How real estate helps Vijay Kedia invest in stocks
How real estate helps Vijay Kedia invest in stocks

Mint

timean hour ago

  • Mint

How real estate helps Vijay Kedia invest in stocks

MUMBAI : Vijay Kedia, known for spotting multibaggers in the small- and mid-cap space, keeps a small portion of his portfolio in real estate to create passive income through rentals. This allows the Kedia Securities founder, who is also the largest shareholder in several listed Indian companies, to freely invest and hold his stock positions. In his interaction with Mint for the Guru Portfolio series, Kedia shares how he invests in different asset classes, apart from equities, and why he is bullish on sectors like tourism and hospitality. Edited excerpts: What's your asset allocation split? Around 6% is in gold and silver, around 10% in real estate, 11% in cash and the balance 73% is in equities. Within equities, I have moved 20% of my investments into more liquid stocks. These are not necessarily large-cap stocks, but just stocks with more liquidity. I had sold some old holdings and found these stocks at attractive valuations, with decent liquidity. If I find attractive opportunities in illiquid small- and mid-cap, I will move this money there. I love illiquid shares because they force me to hold shares in bad market sentiment. A large part of my equity portfolio, 80%, still remains in mid- and small-cap stocks. The gold exposure is through Sovereign Gold Bonds, and the silver exposure is through silver exchange-traded funds (ETFs). How has your portfolio performed? In the last one year, it is down 30%. Over the last five years, it is up 3-4X. Is there froth in the mid- and small-cap space? The mid- and small-cap space is a large universe of stocks. There is froth in some of those names and also there is value. There are some stocks, some sectors, which are still very cheap. So, I think there is a mixed trend. How has your experience been investing in international stocks? I have invested a little bit in the last three years in two stocks in the US, but I have not increased my investments. They are just small investments and are not going to move the needle for my portfolio. Besides this, I have invested in a Chinese ETF listed on Indian stock exchanges over the past year. Initially, the ETF went up by around 30% within six months of my purchase. But now it's down nearly 10% from the peak, so maybe it's still up 15-20%. But I don't measure it that way. I bought it with a holding period of four to five years—or maybe longer. I believe it should do well in the long term. That said, there are uncertainties due to tensions with US President Donald Trump and the US. It's a bit risky, but I'm comfortable with risk. I feel the US will ultimately enter into a good relationship with China. What's your view on tariff-related feuds between China and the US? What's your outlook for India and China? Honestly, anything I say would just be speculation. No one knows what's going on in Trump's mind—or China's, for that matter. But I think it'll settle down eventually. It already has, to some extent; tariffs that were once as high as 140% have come down. Both sides will realize the need to meet halfway. Ultimately, everyone is a businessman—they'll find common ground. Whatever escalation was supposed to happen, I think it has happened. Have you added to your real estate portfolio? In the last one year, I have added to it; bought two warehouses. In every bull market, I take some money out of stocks and buy real estate. The idea is to create passive income, as I don't want to be dependent on the stock market for regular income. I want to remain free even when the market falls. Since I can sustain my lifestyle from the rental income alone, I can keep investing in stocks whenever I get dividends or sell other stocks. Within my real estate portfolio, 80% is in commercial real estate and 20% is in residential real estate. Also Read | How Capitalmind's Deepak Shenoy covered shortfall in his son's education goal What's your view on silver? I expect silver to outperform gold from here on. But I don't give much attention there. I didn't intend to buy more there. I am happy when I am buying stocks, not gold or silver. Why have you kept some cash in your portfolio? I have around 11% in cash, which I am looking to deploy if there are any opportunities. I sold some shares in the last three to four months, but I did not get any good idea to invest that money at these valuations. So, I have kept them in a bank and am looking for opportunities. Do you have any health cover? I have around ₹40 lakh of medical cover. Retail investors accounted for 35% of premium turnover in FY25. It seems your warning to retail investors to stay away from futures and options is falling on deaf ears. Trading in futures and options (F&Os) without understanding is like driving an F1 car without a seatbelt—speed thrills, but it also kills. I have said this on various platforms. I have made many songs on this, but it appears that people do not understand. So, now I have realised that you have to pay a price for paradise. Anybody indulging in F&Os without understanding it, should realize that it is not for them. It is alright, if it is suiting you. Otherwise, the market teaches everybody one way or the other. Also Read | Parag Parikh Mutual Fund's Rajeev Thakkar turns to debt: What's driving the shift in his personal portfolio? What's your view on the Indian stock market going forward? Bull markets are longer and bear markets are shorter. I think bear phase is over. However, it will be a mixed bag. The indices like the Nifty and the Sensex have recovered smartly—beyond my expectations, actually. But none of my investments are in index-linked stocks, so that rally hasn't benefited me much. My focus is bottom-up—I invest in companies, not in the index. Some stocks might hit new highs, while others may underperform for sometime. Are there any particular sectors you're bullish on? Tourism could be a sunshine sector, especially with the government focusing on boosting domestic tourism. So airlines should do well—I'm holding shares in one airline. Hotels might benefit too, though I don't own any hotel stocks. Hospitals are another area. With population growth and greater health awareness post-Covid, people now realize that health is the greatest asset. There's a saying: pahla sukh ..Nirogi kaya, dusra sukh ghar mein maya—good health comes before wealth. Hospital stocks are expensive right now, but I think they'll do well. Also, EV and power-related sectors have promise but are still playing out. What's your stock selection process? I follow a bottom-up approach. I look at individual companies first. There are usually only 3-4 good companies in any sector. If the sector is doing well, I try to find a small company that can scale quickly. But even if the sector isn't doing well, a strong company can still grab market share from others. So, I start with the company and then look at the sector. While right now, I have invested in companies that offer value with moderate growth, I personally like growth companies. So, I may gradually switch back to those opportunities as and when they arise. What is a good hunting ground to find stocks? The best stock ideas aren't always found on TV or newspapers—they're often hiding in plain sight, around your own life. When you board a plane, the air hostess points out six emergency exits—front, middle, and rear—because your nearest exit may be right where you're sitting. The same applies to stock ideas: your next big opportunity might be closer than you think. For example, I invested in an airline company after noticing how crowded airports were getting in 2022–23. Flights were beginning to feel like buses. That observation led to my investment. Similarly, I invested in telecom after seeing the surge in data consumption. These are life signals. You just need to be observant. Once you have identified a stock. How do you decide how much to invest in that stock? There's no fixed formula. Invest only what lets you sleep peacefully at night. Even great companies will have bad quarters or tough phases. If a downturn gives you anxiety, you've over-invested. Also, for newcomers, I suggest a portfolio of no more than 20 stocks. That way, you can track all of them properly. Remember, it's usually just one or two stocks in your portfolio that will create the real wealth. What percentage of your equity portfolio is in your top five stocks? It should be around 50%. What's your advice to investors who want to take up direct stock investing? New investors should actually take the mutual fund route. By just selecting a systematic investment plan (SIP) and keeping that discipline, investors can compound their wealth. For instance, ₹50,000 invested every month in mutual funds for 20 years gives you a return of ₹5 crore with 12% annualized returns. Direct stock investing is not everyone's cup of tea. It has a steep and often rough learning curve. But still, if one wants to try direct stock investing, remember that volatility is not a threat; it's the tuition fee the market charges to teach you knowledge, courage, and Read | The ONDC mutual fund pipeline has arrived. Will it take over the industry? Sashind Ningthoukhongjam in Mumbai contributed to this story.

U.S.-China trade truce leaves military-use rare earth issue unresolved, sources say
U.S.-China trade truce leaves military-use rare earth issue unresolved, sources say

The Hindu

timean hour ago

  • The Hindu

U.S.-China trade truce leaves military-use rare earth issue unresolved, sources say

The renewed U.S.-China trade truce struck in London left a key area of export restrictions tied to national security untouched, an unresolved conflict that threatens a more comprehensive deal, two people briefed on detailed outcomes of the talks told Reuters. Beijing has not committed to granting export clearance for some specialised rare-earth magnets that U.S. military suppliers need for fighter jets and missile systems, the people said. The United States maintains export curbs on China's purchases of advanced artificial intelligence chips out of concern that they also have military applications. Editorial | ​Big deal: On the U.S.-China trade deal At talks in London last week, China's negotiators appeared to link progress in lifting export controls on military-use rare earth magnets with the longstanding U.S. curbs on exports of the most advanced AI chips to China. That marked a new twist in trade talks that began with opioid trafficking, tariff rates and China's trade surplus, but have since shifted to focus on export controls. In addition, U.S. officials also signalled they are looking to extend existing tariffs on China for a further 90 days beyond the August 10 deadline agreed in Geneva last month, both sources said, suggesting a more permanent trade deal between the world's two largest economies is unlikely before then. The two people who spoke to Reuters about the London talks requested not to be named because both sides have tightly controlled disclosure. The White House, State Department and Department of Commerce did not immediately respond to requests for comment. China's Foreign and Commerce ministries did not respond to faxed requests for comment. President Donald Trump said on Wednesday the handshake deal reached in London between American and Chinese negotiators was a "great deal," adding, "we have everything we need, and we're going to do very well with it. And hopefully they are too." And U.S. Treasury Secretary Scott Bessent said there would be no "quid pro quo" on easing curbs on exports of AI chips to China in exchange for access to rare earths. China Chokehold But China's chokehold on the rare earth magnets needed for weapons systems remains a potential flashpoint. China dominates global production of rare earths and holds a virtual monopoly on refining and processing. A deal reached in Geneva last month to reduce bilateral tariffs from crushing triple-digit levels had faltered over Beijing's restrictions on critical minerals exports that took shape in April. That prompted the Trump administration to respond with export controls preventing shipments of semiconductor design software, jet engines for Chinese-made planes and other goods to China. At the London talks, China promised to fast-track approval of rare-earth export applications from non-military U.S. manufacturers out of the tens of thousands currently pending, one of the sources said. Those licenses will have a six-month term. Beijing also offered to set up a "green channel" for expediting license approvals from trusted U.S. companies. Initial signals were positive, with Chinese rare-earths magnet producer JL MAG Rare-Earth, saying on Wednesday it had obtained export licences that included the United States, while China's Commerce Ministry confirmed it had approved some "compliant applications" for export licences. But China has not budged on specialized rare earths, including samarium, which are needed for military applications and are outside the fast-track agreed in London, the two people said. Automakers and other manufacturers largely need other rare earth magnets, including dysprosium and terbium. Big Issues Remain The rushed trade meeting in London followed a call last week between Trump and Chinese leader Xi Jinping. Trump said U.S. tariffs would be set at 55% for China, while China had agreed to 10% from the United States. Trump initially imposed tariffs on China as punishment for its massive trade surplus to the United States and over what he says is Beijing's failure to stem the flow of the powerful opioid fentanyl into the U.S. Chinese analysts are pessimistic about the likelihood of further breakthroughs before the August 10 deadline agreed in Geneva. "Temporary mutual accommodation of some concerns is possible but the fundamental issue of the trade imbalance cannot be resolved within this timeframe, and possibly during Trump's remaining term," said Liu Weidong, a U.S.-China expert at the Institute of American Studies, Chinese Academy of Social Sciences. An extension of the August deadline could allow the Trump administration more time to establish an alternative legal claim for setting higher tariffs on China under the Section 301 authority of the USTR in case Trump loses the ongoing legal challenge to the tariffs in U.S. court, one of the people with knowledge of the London talks said. The unresolved issues underscore the difficulty the Trump administration faces in pushing its trade agenda with China because of Beijing's control of rare earths and its willingness to use that as leverage with Washington, said Ryan Hass, director of the John L. Thornton China Center at the Brookings Institution. "It has taken the Trump team a few punches in the nose to recognise that they will no longer be able to secure another trade agreement with China that disproportionately addresses Trump's priorities," Hass said.

Israel strikes Iran's gas fields: Why is South Pars indispensable for Tehran?
Israel strikes Iran's gas fields: Why is South Pars indispensable for Tehran?

Hindustan Times

time2 hours ago

  • Hindustan Times

Israel strikes Iran's gas fields: Why is South Pars indispensable for Tehran?

Tel Aviv and Tehran's military conflict escalated on Saturday as the Israeli army struck the world's biggest gas field in Iran, threatening the latter's energy security, which is highly dependent on the domestic oil and gas production sector. Iran's South Pars gas field, which it shares with Qatar, was on fire after Israel's precision strikes. The fire was extinguished. However, the attack shows that Israel will go for Iran's economic backbone if the conflict escalates further. The South Pars field is located offshore in Iran's southern Bushehr province. Iran is the world's third-largest gas producer after the US and Russia. It produces around 275 billion cubic meters (bcm) of gas per year, or some 6.5% of global gas output. However, because of the US sanctions on exports, it is forced to consume the fuel domestically. It shares the field with Qatar, which produces 77 million tonnes of liquefied gas; it supplies the gas to several nations in Europe and Asia. The attack can potentially disturb the global oil pricing. The attack heightens the risk to oil infrastructure in Iran, OPEC's third-biggest producer, and to shipments from elsewhere in the region. South Pars provides roughly two-thirds of the country's supplies. 'It's going to be pretty significant,' Richard Bronze, head of geopolitics at consultant Energy Aspects Ltd., said of Saturday's attacks. 'We appear to be in an escalatory cycle,' and there will be 'questions about whether Israel is going to target more Iranian energy infrastructure,' he added. Iran has been facing an energy crisis for a long time, with some areas facing the worst power outages in decades. The Iran Chamber of Commerce, Industries, Mines and Agriculture estimated that these blackouts cost the cippled economy about $250 million a day. 'This is a significant escalation,' said Jorge Leon, an analyst at Rystad Energy A/S who previously worked at the OPEC secretariat, said of the onslaught on Saturday.'This is probably the most important attack on oil and gas infrastructure since Abqaiq,' Leon said, referring to the 2019 strike that briefly crippled one of Saudi Arabia's key oil-processing plants. Also read: Iran Israel war news live updates: 'We can easily get a deal done, end this bloody conflict' says Trump amid strikes In the 1970s, Iran's oil production was at its peak, with the nation accounting for 10 per cent of the world's output at the time. However, after the 1979 revolution, the US crippled the Iranian economy by announcing sweeping sanctions on Tehran. The United States tightened sanctions in 2018 after Trump exited a nuclear accord during his first presidential term. Iran's oil exports fell to nearly zero for some months. China is the biggest importer of Iranian oil. It says it does not recognise sanctions against its trade partners. The main buyers of Iranian oil are Chinese private refiners, some of whom have recently been placed in the US Treasury sanctions list. If Israel attacks Iran's oil and gas production, it may also impact China, the United States' biggest strategic and economic rival. Analysts, however, say Saudi Arabia and other OPEC members could compensate for the drop of Iranian supply by using their spare capacity to pump more. With inputs from Bloomberg, Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store