Chinese tech financier released after probe: former colleague
Chinese tech financier Bao Fan has been released by Chinese authorities after vanishing from public view over two years ago while "cooperating"Saturday. His disappearance -- and China Renaissance's subsequent announcement that he was "cooperating in an investigation being carried out by certain authorities" -- sent shockwaves throughout the financial services industry.
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First Post
28 minutes ago
- First Post
Jaishankar in Moscow, Wang Yi in Delhi: Why this is an important time for Indian diplomacy
External Affairs Minister S Jaishankar will travel to Moscow next week, where he will meet Russian Foreign Minister Sergey Lavrov on August 21. Talks with Russian President Vladimir Putin could also be on the cards. Before the EAM's trip, Chinese Foreign Minister Wang Yi is expected to be in India. The two visits come amid a strain in New Delhi's ties with the US over trade Chinese Foreign Minister Wang Yi will visit India next week. Foreign Minister Subrahmanyam Jaishankar will head to Russia. File Photo/Reuters India will boost engagement with Russia and China at the top levels over the coming weeks, amid a strain in ties with the United States over trade. External Affairs Minister (EAM) S Jaishankar will be in Moscow next week to meet Russian Foreign Minister Sergey Lavrov on August 21. Before Jaishankar heads to Russia, India is reportedly preparing to host Chinese Foreign Minister Wang Yi. This will be the first high-level visit from China following a four-day conflict between India and Pakistan in May after Operation Sindoor. STORY CONTINUES BELOW THIS AD As relations with the US take a hit over trade, India's ties with Russia and China are evolving. Let's take a closer look. Jaishankar in Russia, China's FM in India EAM S Jaishankar is slated to visit Russia on a two-day trip next week. He will hold talks with Russian Foreign Minister Lavrov and a meeting with Russian President Vladimir Putin could also be in the cards. 'The Ministers will discuss key issues on our bilateral agenda, as well as key aspects of cooperation within international framework,' the Russian Foreign Ministry said, announcing Jaishankar's Moscow visit on Wednesday (August 13). This will be the third meeting between Jaishankar and Lavrov in the past few weeks. The duo last met on the sidelines of the Shanghai Cooperation Organisation (SCO) Council of Foreign Ministers (CFM) meeting in Tianjin on July 15, as well as on the margins of the 17th Brics Summit in Rio de Janeiro on July 6. During his Moscow visit, the EAM could also co-chair the 26th session of the India-Russia Intergovernmental Commission on Trade and Economic, Scientific-Technological and Cultural Cooperation, reported PTI. India's purchase of Russian crude oil is likely to feature during Jaishankar's meetings with Russian leaders. Russia's conflict with Ukraine is also expected to be discussed. Before Jaishankar's Moscow trip, Chinese Foreign Minister Wang Yi will reportedly be in India next week. As per Indian Express sources, Wang will be in New Delhi on August 18 for the Special Representative-level talks with National Security Adviser (NSA) Ajit Doval. STORY CONTINUES BELOW THIS AD India is yet to officially announce the visit of the Chinese foreign minister, which could come as early as August 18. The visit will be keenly watched as it comes three months after Operation Sindoor, when India briefly fought Pakistan. New Delhi said Pakistan used Chinese weapons and drones and Beijing helped Rawalpindi with 'live intelligence' during the military conflict. Wang's trip is aimed at continuing high-level discussions on the India-China border issue, sources told The Hindu. They added that New Delhi will be cautious in improving ties with Beijing, given its all-weather relationship with Pakistan. India continues engagement with Russia despite Trump threats New Delhi has intensified engagement with Russia in recent weeks, even as US President Donald Trump announced additional 25 per cent tariffs on India for buying Russian crude oil. This has taken the total tariffs on Indian goods exported to the US to 50 per cent. Jaishankar's Moscow visit will lay the groundwork for President Putin's arrival in India for the next Russia-India annual summit expected later this year. This will be his first trip to the South Asian country since the Russian invasion of Ukraine in February 2022. Lavrov could also visit India before Putin's trip. STORY CONTINUES BELOW THIS AD This week, the Russian foreign minister will travel to Alaska with Putin for the high-stakes summit with US President Trump on Friday (August 15). The talks between the two leaders have been welcomed by India, which said the move holds the 'promise' of ending the Russia-Ukraine conflict. There are hopes in New Delhi that the Trump-Putin summit in Alaska would help persuade the US president to drop the 25 per cent additional tariffs on Indian goods as a penalty on New Delhi for buying Russian oil. On August 11, Prime Minister Narendra Modi spoke to Ukraine's President Volodymyr Zelenskyy on the phone, underlining the need for a 'peaceful settlement' of the conflict. Amid Trump's steep tariff threats, Modi also held a telephonic conversation with Brazil's President Lula Da Silva, whose country is part of Brics – the informal group that the US president has targeted. As India continues trade negotiations with the US, it has also carried on its engagement with Russia. Moscow has condemned Trump's tariff action and supported India's right to choose its trading partners. STORY CONTINUES BELOW THIS AD Last week, Modi and Putin held a 'detailed' phone conversation, discussing 'the latest developments on Ukraine' and 'reaffirmed our commitment to further deepen the India-Russia Special and Privileged Strategic Partnership'. This came after NSA Doval visited Russia, where he met Russian Security Council Secretary Sergey Shoigu and President Putin. In late June, Defence Minister Rajnath Singh held talks with his Russian counterpart Andrey Belousov on the sidelines of the gathering of SCO Defence Ministers in Qingdao, China. Thaw in India-China ties Wang Yi's visit to India is likely to take place before PM Modi heads to China's Tianjin for the SCO summit later this month. It will be the Indian prime minister's first visit to the country since 2018. The SCO summit will be held in Tianjin from August 31 to September 1, with Chinese President Xi Jinping and Putin also in attendance. Prime Minister Narendra Modi, Russian President Vladimir Putin and Chinese President Xi Jinping arrive for a family photo during the BRICS summit in Kazan on October 23, 2024. File Photo/AFP Russia is also part of the SCO grouping, along with India, China, Pakistan and Iran. PM Modi could also hold bilateral talks with both the Chinese and Russian presidents on the sidelines of the summit. The meeting between Modi and Xi will be an opportunity for India to review the situation along the border with China and the bilateral relationship, as per Indian Express. STORY CONTINUES BELOW THIS AD This is PM Modi's first trip to China since the military clashes at Galwan in eastern Ladakh along the Line of Actual Control (LAC) in 2020. Last October, India and China completed the process of disengagement along the LAC in eastern Ladakh. Following this, Foreign Secretary Vikram Misri, Rajnath Singh and Jaishankar visited the country. Wang Yi had come to India in 2022, after the Russian invasion of Ukraine. Doval and Wang are likely to deliberate on bilateral ties and the situation along the LAC. In recent months, India has enhanced engagement with both Russia and China. This is significant as Beijing has batted for the Russia-India-China trilateral meeting. However, New Delhi has, so far, not agreed. India and China have taken several steps to improve relations. Beijing allowed the resumption of the Kailash Mansarovar Yatra this year, while India has started issuing tourist visas to Chinese nationals since July. In a sign of further easing of tensions, New Delhi and Beijing are mulling resuming direct flights between the two countries. Beijing has also reportedly relaxed restrictions on urea shipments to India. STORY CONTINUES BELOW THIS AD As per ThePrint report, India and China are also in talks to 'facilitate' the revival of border trade through the Lipulekh Pass (Uttarakhand), Shipki La Pass (Himachal Pradesh) and Nathu La Pass (Sikkim), the Rajya Sabha was told last week. Trade between India and China through these border posts was first disrupted during the Covid-19 pandemic. It was not resumed following a downturn in diplomatic ties due to the border clashes in 2020. With inputs from agencies
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Business Standard
28 minutes ago
- Business Standard
Vivo's answer to Apple Vision Pro headset launches on August 21: Details
Chinese consumer electronics brand Vivo has announced that it will be launching its Vision Discovery Edition Glasses on August 21. The announcement was accompanied by a teaser video highlighting the headset's design. Vivo has yet to confirm whether this will be a global event or limited to its home market in China. Vivo Vision Discovery Edition Glasses: What to expect The teaser reveals a design reminiscent of Apple's Vision Pro, featuring a metal build and a front visor likely housing the display. It also shows a digital crown, which is expected to control passthrough functionality for blending real-world and virtual visuals. As reported by FoneArena, Vivo's General Manager of Smart Device Products, Hong Yi, shared further insights on Chinese social platform Weibo. He stated that the device will support gesture-based precision control, enabling an experience akin to physically grabbing objects. Yi claimed Vivo is the only brand besides Apple to achieve this interaction style. 'It completely breaks away from the limitations of two-dimensional touch, allowing you to reach out and 'grab' props in games and effortlessly drag and drop floating documents at work, returning interaction to its most instinctive form,' Yi said, according to FoneArena. The report also stated that the Vivo Vision Discovery Edition Glasses are expected to be powered by a chip based on the Qualcomm Snapdragon 4nm platform, and be designed for lightweight comfort, making it suitable for long sessions. Vivo Vision Discovery Edition Glasses: Expected availability According to FoneArena, Yi in his post on Weibo clarified that the Vision Discovery Edition Glasses will not be commercially available in 2025. However, following the August 21 launch, Vivo will begin taking reservations for in-store demo sessions across China. Availability in other regions has not yet been confirmed. Vivo had previously displayed its Vision headset prototype at the Boao Forum for Asia earlier this year.
Hans India
28 minutes ago
- Hans India
India can help reshape semiconductor and rare earth supply map in Southeast Asia
New Delhi: As Southeast Asia emerges as a transformative critical player in the global semiconductor and rare earth mineral industries, India can play a significant role amid the reshaping of the world trade and supply chain order as US tariff tensions escalate. Although no single silver bullet exists to overturn decades of Chinese dominance, yet the combination of US defence funding, EU market regulations, JOGMEC diplomacy and Indian exploration is already reshaping the supply map, said a new report. JOGMEC diplomacy refers to the strategic use of the Japan Organisation for Metals and Energy Security (JOGMEC) to secure Japan's energy and resource needs, while also contributing to global resource development. "Countries that combine capital, creativity, and credible standards stand the best chance of navigating the rare-earth era without succumbing to strategic chokeholds," according to a latest report published by Politeia Research Foundation (PRF), a non-profit initiative. India's ongoing renegotiation of the ASEAN-India Trade in Goods Agreement (AITIGA) has a significant potential to reshape the trade dynamics and supply chain movements between India and Southeast Asian nations, according to the report authored by Madhav Maheshwari, a lawyer and independent policy consultant. India had offered duty concessions on 71 per cent of its tariff lines, whereas ASEAN countries provided significantly lower market access, with Indonesia opening only 41 per cent of its tariff lines, Vietnam 66.5 per cent, and Thailand 67 per cent. The report further mentioned that this imbalance led to a substantial disparity and led to a significant increase in India's trade deficit with ASEAN, rising from just $5 billion in 2010–11 to $43.57 billion in 2022–23, with semiconductors constituting a major component among the imports. "India has significant trade volumes from Southeast Asian countries like Singapore, Malaysia and Thailand. Such imbalance and the exploitation of the rules of origin provisions, which are also the main drivers of the ongoing renegotiation," the report emphasised. The India-Singapore Comprehensive Strategic Partnership, signed in September 2024, provides for a specific memorandum of understanding on semiconductor ecosystem partnership, which establishes frameworks for strategic bilateral cooperation. The fresh renegotiated agreement aims to tackle the Chinese problem faced by India while also facilitating Singapore's participation in the fast-growing Indian market. Malaysia is also one of the largest trading partners for India, with a total trade of $20 billion in 2023–24. "The trade imbalance between Malaysia and India also suggests that Malaysia may need to offer greater market access in the renegotiation phase. Vietnam's position is also important because it represents the type of manufacturing hub that India is competing with," said the report. "Both Thailand and Indonesia also play an important role in reshaping the dynamics, considering intensified competition and essentially trying to serve themselves as alternatives to China-dependent supply chains and products. This reflects a broader shift in global semiconductor geopolitics. ASEAN's strategic position in global semiconductor trade networks..." the report emphasised. In order to break the Chinese monopoly on rare earth processing, particularly dealing with Myanmar, "India could latch on to this opportunity, being the neighbour and help deal with the Chinese monopoly." The report further stated that India and the Southeast Asian countries should prioritise upgrading their investments in Myanmar. "Initiatives like the G7 Critical Minerals Action Plan, which are widely endorsed by Australia, India and South Korea, should provide an expanded scope to provide targeted support for Southeast Asian processing capabilities and infrastructure development," the PRF report noted.
