Saudi Utility Eyes $10 Billion of Malaysia Renewable Projects
Saudi utility Acwa Power Co. signed non-binding agreements with Malaysian firms, including to explore development of about 13 gigawatts of power generation capacity, totaling $10 billion in investments by 2040.
Acwa's collaborations will include renewable energy, green hydrogen and advanced water solutions, it said in a statement. One of the world's largest private water desalination companies, Acwa signed the agreement with the Malaysian Investment Development Authority on Thursday.
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- Yahoo
Hegseth warns Asia allies that China threat is ‘imminent'
Defense Secretary Pete Hegseth delivered a stark warning to Asian allies on Saturday, portraying the threat China poses to the region as 'real, and it could be imminent.' In his first speech to the annual Shangri-La Dialogue in Singapore, Hegseth was blunt about Washington's view of the Chinese military buildup in the region and the threat it poses to Taiwan, calling on allies to spend more on defense while pledging continued American partnership and support. "There's no reason to sugarcoat it. The threat China poses is real, and it could be imminent," Hegseth said. Any Chinese military move on Taiwan "would result in devastating consequences for the Indo-Pacific and the world,' he added. The secretary's comments were delivered in front of a packed room of Asian diplomats, military officials and business leaders, who heard the most fulsome comments on the threat of China delivered by any member of the Trump administration to date. It comes after President Donald Trump delivered a speech in Saudi Arabia this month outlining his vision of a reduced American military footprint around the world, while pushing allies to invest more heavily in their own security. Vice President JD Vance followed that up with a speech emphasizing the vision of a United States that will no longer attempt to impose democracy and democratic values on other countries, but seek economic and military partnerships that offer value to both sides. While Hegseth pledged American support for allies in the region, he built upon that theme by telling allies they weren't spending enough on their own defense at a time when the U.S. is increasingly looking inward, moving troops and equipment to its southern border with Mexico instead of new deployments overseas. 'Credible deterrence starts at home. It starts at our borders,' he said. 'We have put troops on the Southwest border and are driving towards 100 percent operational control there.' The stop in Singapore marked the secretary's second trip to the region since his January swearing-in. It followed a trip to NATO headquarters in Europe where he admonished allies for not spending enough on defense, a criticism he imported to Singapore. "It's hard to believe, a little bit, after some trips to Europe, that I'm saying this, but thanks to President Trump, Asian allies should look to countries in Europe as a new found example," Hegseth said. The NATO goal of spending at least 2 percent of GDP on defense has been updated by the Trump team to a whopping 5 percent, a goal that will be extremely difficult for most allies to achieve, including the United States, which spends about 3.5 percent on defense. Hegseth brought that message of more spending with him to Asia, telling the audience that 'we ask, and indeed we insist, that our allies and partners do their part on defense. Sometimes that means having uncomfortable and tough conversations.' On the spending issue, Hegseth remained frank. "It doesn't make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea,' he said. That message will rankle some allies in the region, as Australia is spending billions on a partnership with the U.S. and U.K. to build a new fleet of nuclear-powered submarines, and Japan and South Korea have invested heavily in their own militaries in recent years. South Korea has emerged as a defense-industrial powerhouse, selling artillery and air defense systems across Europe. Hegseth also suggested that European nations should focus their efforts on securing European territory, allowing the U.S. to focus more on the Indo-Pacific. "We're pushing our allies in Europe to own more of their security — to invest in their own defense ... Thanks to President Trump, they are stepping up," Hegseth said.
Yahoo
an hour ago
- Yahoo
Hegseth reassures allies that US will support them against Chinese aggression
Defense Secretary Pete Hegseth reaffirmed in a speech in Singapore on Saturday that the United States will continue to support U.S allies in the Indo-Pacific region against Chinese aggression as he warned that Chinese military action against Taiwan could be "imminent." Hegseth made his remarks in a speech at the annual Shangri-La Dialogue, which is organized by the International Institute for Security Studies and is a high-profile gathering of regional and international security leaders. His remarks laid out how the Trump administration sees the Indo-Pacific region as a "priority theater" and how the U.S. is prepared to stand by allies in a region where China continues to carry out aggressive military actions, particularly against Taiwan and the Philippines. MORE: Hegseth, Gabbard lead US delegation to major security summit in Singapore "We do not seek conflict with Communist China. We will not instigate nor seek to subjugate or humiliate," Hegseth said. "President Trump and the American people have immense respect for the Chinese people and their civilization, but we will not be pushed out of this critical region. And we will not let our allies and partners be subordinated and intimidated." In recent years China has invested heavily in building up its military and increased its naval and air presence around Taiwan, engaging in almost daily harassment of Taiwan's borders -- raising concerns that it is preparing to retake by force the island nation it considers a breakaway province. "Nobody knows what China will ultimately do," said Hegseth. "But they are preparing and we must, therefore, be ready as well. Urgency and vigilance is our only option." "We are preparing for war, to deter war — to achieve peace through strength," Hegseth added. "And we look to you — our allies and partners — to join us in this important work. Our time is now. The threats we face will not wait. Nor can we." MORE: Macron will kick off Singapore security conference with Hegseth in attendance "To be clear: any attempt by Communist China to conquer Taiwan by force would result in devastating consequences for the Indo-Pacific and the world," said Hegseth who stressed that China may be ready to act sooner than the 2027 deadline that China's President Xi Jinping had set for China's military to be prepared for possible action against Taiwan. "There is no reason to sugarcoat it. The threat China poses is real. And it could be imminent -- we hope not, but it certainly could be," said Hegseth. China has also increased tensions with the Philippines where Chinese military vessels regularly harass Philippine ships operating in the international waters of the South China Sea as it continues to assert its territorial claims in the region. Relations between the U.S. and China have also soured following Trump's announcement of steep tariffs on Chinese imports that led China to announce reciprocal tariffs. Both sides have since entered into a shaky temporary agreement to lower their tariffs. MORE: Trump admin live updates: Trump says he's doubling steel tariff to 50% In his remarks, Hegseth said the Trump administration was pursuing a "common sense" approach to reestablishing deterrence that includes increasing the U.S. military presence in the western Pacific, "helping allies and partners strengthen their defense capabilities, and by rebuilding our defense industrial bases." Hegseth encouraged Asian countries to follow the example of NATO nations that have made commitments to increase their military spending to 5% of their gross domestic product as the Trump administration has stated that it wants them to take more ownership of their security commitments in Europe. "President Trump and I will be counting on you in this room -- our allies and partners -- to be force multipliers of peace alongside the United States," Hegseth said. "We ask — and indeed, we insist — that our allies and partners do their part on defense." He added, "Sometimes, this means having uncomfortable and tough conversations. Partners owe to it to each other to be honest and realistic. This is the essence of a pragmatic, common-sense foreign policy." Hegseth emphasized that the administration's approach does not mean that America's allies will have to go it alone in potential military actions. "You will also see that we are -- and will remain -- loyal to our allies and partners. In fact, the only way to ensure lasting alliances and partnerships is to make sure each side does its part," he said. Hegseth added, "We will stand with you and beside you to deter Chinese aggression," said Hegseth. The forum is sometimes an opportunity for high-level meetings between top U.S. and Chinese defense leaders during times of rising tension. But in an apparent snub, China's defense minister did not attend this year's forum and instead China was represented by a delegation from its National Defense University. MORE: Trump claims China 'totally violated' trade agreement with US "We can't account for whether or not China is here or not, but we're glad we are, and we think it makes the region more stable and more peaceful," Hegseth told reporters when asked to comment on China's decision. China's rising aggression in the region has been a major topic of the conference that included an opening address by French President Emmanuel Macron, who has been touring of Southeast Asian nations to stress France's role in the region. On Friday night, Hegseth sat in the audience as Macron stressed the importance of a new alliance between European and Asian nations to avoid becoming "collateral victims of decisions made by superpowers" -- a reference to the United States and China. Macron cautioned against a loss of credibility for the international-rules based order if it is applied differently by the U.S. with regard to China while it attempts to resolve the war in Ukraine by allowing Russia to keep seized Ukrainian territory as the Trump administration has proposed. "If we consider that Russia could be allowed to take a part of the territory of Ukraine without any restriction, without any constraint, without any reaction of the global order, how would you phrase what could happen in Taiwan?" Macron said. "What would you do the day something happens in the Philippines?" "What is at stake in Ukraine is our common credibility, that we are still able to preserve territorial integrity and sovereignty of people," said Macron. "No double standards." Hegseth reassures allies that US will support them against Chinese aggression originally appeared on
Yahoo
an hour ago
- Yahoo
Hegseth Warns About China Threat, Urges Asian Allies to Boost Defense Spending
Speaking at the Shangri-La Dialogue in Singapore, US Defense Secretary Pete Hegseth urged Washington's partners in Asia to increase defense spending and warned that "China seeks to become a hegemonic power" in the Indo-Pacific region. Inicia sesión para acceder a tu portafolio
