Latest news with #Australia-based
Reuters
4 hours ago
- Business
- Reuters
AVZ Minerals says Congo deal with KoBold breaches arbitration order
DAKAR, July 21 (Reuters) - Australia-based AVZ Minerals (3A2.H), opens new tab, which holds a majority stake in the contested Manono lithium project in the Democratic Republic of Congo, said on Monday a new deal between Kinshasa and U.S.-backed KoBold Metals to develop part of the project breaches an existing international arbitration order. The DRC government said on July 18 it had signed an agreement with KoBold to jointly develop the southern section of the Manono lithium and tin deposit, one of the world's largest untapped sources of the battery metal. The agreement commits the Congolese government to support KoBold's plan to acquire and develop the Roche Dure deposit at Manono, effectively positioning the California-based firm as Kinshasa's preferred partner to unlock the stalled project. AVZ, whose stake in the Manono project is held through its subsidiary Dathcom Mining, is currently locked in arbitration with Congo at the International Centre for Settlement of Investment Disputes over the government's failure to grant a mining permit. The company said Congo's deal with KoBold Metals violates interim orders issued by the ICSID tribunal in January 2024, which required Congo to recognize Dathcom as the holder of the disputed mining license and to protect AVZ's rights during the proceedings. Congolese authorities and KoBold Metals did not immediately respond to requests for comment. "On 18 July 2025, (AVZ) informed the ICSID Tribunal of the KoBold agreement which is a breach (of its orders),' the company said. Though not a party to the KoBold agreement, AVZ said it remains open to "constructive dialogue" with all stakeholders, including KoBold, to reach a commercial resolution that respects its legal and contractual rights.
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Korea Herald
19 hours ago
- Business
- Korea Herald
[Yoo Choon-sik] Factories of the future: Lee's vision beyond AI
South Korea has long prided itself on being one of the few nations capable of fully leveraging the potential of artificial intelligence innovation. This national confidence is rooted in the country's remarkable transformation from economic crisis to technological leadership ― a journey that began in earnest during the aftermath of the Asian financial crisis in the late 1990s. That legacy, however, now faces a new test. Recent independent studies have raised alarms that South Korea may be slipping behind in the global race to lead the AI revolution. One such report, published by the Australia-based technology firm Cloudscene, placed South Korea at 30th worldwide in terms of the number of AI-usable data centers. Shockingly, this ranking puts the country behind many others that it had once viewed as trailing in the domain of technological innovation. This surprising placement has prompted concern among policymakers and industry experts alike. Many attribute South Korea's lagging performance to policy missteps under the previous Yoon Suk Yeol administration, combined with a persistent failure to overhaul outdated administrative regulations. While the previous government emphasized more efficient use of research funds, it overlooked the importance of improving the business environment for tech infrastructure ― particularly the construction and operation of data centers by both domestic and international firms. As recently as early 2024, skepticism remained widespread ― even within government ranks ― about the notion that the global competition to develop stronger foundational AI models would continue to escalate. Many also questioned whether it was truly necessary for South Korea to dramatically scale up its computing power by securing more high-performance graphics processing units, especially given the massive costs involved. These doubts were swiftly proven wrong. As AI development intensified globally, the price of GPUs surged amid fierce competition among the world's tech giants. Companies like OpenAI, Google, Microsoft, Meta, Anthropic and Alibaba began pouring unprecedented investments into expanding their data center capacity and equipping them with the most advanced chips on the market. Despite this global momentum, debate persisted in South Korea. Some policymakers argued that the country could not feasibly compete with the world's largest tech conglomerates in developing foundational AI models. Instead, they suggested focusing on building secondary applications ― tools and services that piggyback on the capabilities of existing models ― once the foundational development race had settled. While this pragmatic approach had its merits, it overlooked a critical opportunity. Even if South Korea did not lead in model development, it could still serve as a vital AI hub by attracting global firms to build their data centers within its borders. The reality, however, is stark. Cloudscene's report found that Indonesia and Malaysia had 84 and 62 AI-ready data centers, respectively, compared to South Korea's 43. This disparity is especially troubling given South Korea's stronger standing in broader indices of technological and economic development. President Lee's ambitious AI policy Fortunately, a new sense of urgency has emerged under the leadership of President Lee Jae Myung. Unlike his predecessor, Lee has recognized the transformative power of AI and the importance of establishing a robust infrastructure to support it. At a groundbreaking ceremony for a new data center in Ulsan ― a joint venture between SK Group and Amazon Web Services ― Lee drew an evocative parallel between the digital infrastructure of the future and the Gyeongbu Expressway of the past. That expressway, constructed in the 1960s against widespread skepticism, played a critical role in catalyzing South Korea's industrial rise. Although he has not announced a specific target for the number of data centers to be built during his five-year term, Lee did pledge during his election campaign to procure 50,000 high-end GPUs. This would represent a massive leap forward, especially considering that only several thousand GPUs are believed to be currently in operation across the country. Equally significant is Lee's vision to decentralize this new digital infrastructure. Rather than concentrating all development in the capital region, his administration is seeking to distribute data centers across a wide range of provinces. This strategy not only addresses the current shortfall in AI computing capacity, but also tackles one of South Korea's most persistent social challenges: The overconcentration of population and economic activity in the Seoul metropolitan area. As of 2024, over 51 percent of the population lived in Seoul, Incheon and Gyeonggi Province ― an area that comprises just 12 percent of the nation's landmass. Modern data centers have evolved far beyond their original function as basic storage facilities. Today, they serve as industrial-scale computational hubs essential for training, fine-tuning, and deploying advanced AI models. Establishing such facilities outside the capital region could help balance national development by generating jobs both directly and indirectly related to the AI industry. According to the Korea Data Center Council, private-sector revenue from data centers is projected to grow by an average of 13 percent annually over the next four years ― even before accounting for the anticipated expansion under Lee's administration. However, these gains will only materialize if structural challenges are addressed. Chief among them is the country's aging and inefficient power grid system, which remains a bottleneck for large-scale AI infrastructure projects. In response, Lee has pledged to implement regulatory reforms and offer incentives to companies that locate new data centers near renewable energy sources in the provinces. Still, the key lies in translating these promises effectively into action. Reforming entrenched systems takes time, political capital, and cross-sector cooperation. Yet the urgency is undeniable. South Korea cannot afford to wait for the perfect moment. The global AI landscape is evolving rapidly. For South Korea, the stakes are more than economic. They touch on national identity and the country's ability to shape its future in an increasingly AI-driven world. Whether the country emerges as a leader or falls behind may depend on the decisions made in the next few years. The groundwork is being laid ― not just for faster computation, but for a new era of growth, equity and innovation.
Business Insider
21 hours ago
- Business
- Business Insider
Upcoming Stock Splits This Week (July 21 to July 25)
These are the upcoming stock splits for the week of July 21 to July 25 on TipRanks' Stock Splits Calendar. A stock split is a corporate move that increases the number of outstanding shares by issuing more to existing shareholders, all while keeping the company's total market value unchanged. This leads to a lower share price, making the stock more accessible and often more appealing to retail investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. On the flip side, some companies opt for a reverse stock split. Instead of dividing shares, they consolidate them, reducing the share count and boosting the price per share. While the market cap stays the same, this move is typically aimed at meeting minimum price requirements to maintain exchange listings, like Nasdaq's threshold, and avoid delisting. Whether the goal is to attract retail interest or preserve listing status, these corporate maneuvers can send important signals – and smart traders are always watching. Let's take a look at the upcoming stock splits for the week. Invo Fertility (IVF) – Invo Fertility, known for its innovative fertility treatments and its unique INVOcell device, is taking steps to stay in line with Nasdaq's listing requirements. On July 17, the company announced a 1-for-3 reverse stock split to help boost its share price and maintain compliance with the exchange's minimum bid rule. The split will take effect on July 21. Globavend Holdings (GVH) – Australia-based Globavend Holdings offers cross-border logistics services to e-commerce retailers, focusing on last-mile delivery and freight forwarding. On July 17, the company announced a 1-for-200 reverse stock split of its ordinary shares to increase its share price and meet Nasdaq's continued listing standards. GVH stock is expected to begin trading on a split-adjusted basis on July 21. Top Wealth Group Holding (TWG) – Hong Kong-based Top Wealth Group is engaged in environmental consulting, caviar production, and waste treatment services. On July 17, the company announced a 1-for-90 reverse stock split of its ordinary shares to regain compliance with Nasdaq's $1 minimum bid price rule and support its pending merger with Jilin Xiuzheng Agriculture & Animal Husbandry. TWG stock is expected to begin trading on a split-adjusted basis on July 21. CNS Pharmaceuticals (CNSP) – CNS Pharmaceuticals is a biotechnology company focused on developing anticancer drugs for primary and metastatic cancers of the brain and central nervous system. On July 15, the company announced a 1-for-12 reverse stock split of its common shares to comply with Nasdaq's minimum bid requirement. CNSP stock is expected to begin trading on a split-adjusted basis on July 22. Generation Bio (GBIO) – Focused on tackling rare and common genetic diseases, Generation Bio is developing next-gen non-viral gene therapies using its own closed-ended DNA platform. On July 18, the company announced a 1-for-10 reverse stock split to boost its share price and stay in compliance with Nasdaq listing rules. GBIO shares will begin trading on a split-adjusted basis starting July 22. Premium Catering Holdings (PC) – Serving up large-scale halal meals across Asia, Premium Catering Holdings is a key player in feeding construction crews and corporate events alike. On July 17, the Hong Kong-based company announced a 1-for-9 reverse stock split of its ordinary shares, a move aimed at boosting its share price and staying in line with Nasdaq's listing standards. PC stock is set to start trading on a split-adjusted basis on July 22.
USA Today
3 days ago
- Entertainment
- USA Today
Crafty stingray outmaneuvers hammerhead shark during ‘high-speed chase' off Australia
An Australia-based fisherman has captured extraordinary footage showing a large ray trying to outrun a hammerhead shark in the shallows. 'Just another day in Cape York,' Brody Sutton stated via Instagram. ALSO: Fisherman hardly speechless during rare encounter with orcas off Hawaii (video) The footage, posted below, shows both creatures speeding over the flats and the ray leaping to escape the jaws of the shark. The ray then uses Sutton's boat to assist in its seemingly successful survival effort. (The footage contains brief profanity.) The footage has been widely shared via social media. BDOutdoors described the footage as 'insane' and added: 'High-speed chase in the shallows. What a juke by this ray!' The Cape York Peninsula is in Far North Queensland.
Vancouver Sun
3 days ago
- Entertainment
- Vancouver Sun
Cook This: 3 recipes from Sour Cherries and Sunflowers, including a refreshing cold borsch
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Our cookbook of the week is Sour Cherries and Sunflowers by Sydney, Australia-based cook, author and former MasterChef contestant Anastasia Zolotarev. Jump to the recipes: cold beet borsch , barley pilaf with plums and walnut pesto, and stuffed chicken rissoles . The taste of sour cherries and the scent of sunflower oil take Anastasia Zolotarev back to her roots. The cook and author was born in Belarus and lived in Ukraine before her family moved to Australia when she was six. Sour Cherries and Sunflowers (Quadrille, 2025) felt right as the title of her cookbook debut. 'Sunflowers connect me instantly with Ukraine, and sour cherries do the same, but with Belarus,' says Zolotarev from her home in Sydney. Discover the best of B.C.'s recipes, restaurants and wine. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of West Coast Table will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Sour Cherries and Sunflowers' more than 80 recipes highlight the seasonality and togetherness at the heart of Eastern European cuisines. From vibrant salads, such as a Belarusian barley pilaf with plums and walnut pesto , and refreshing kholodnyk (cold beet borsch) to pickles and ferments and varenyky (dumplings) that 'were made for cooking with others,' Zolotarev showcases the different ways Eastern Europeans prepare and celebrate food. 'I wanted to give people a taste of my home and also communicate how we cook these recipes.' After graduating from the University of Technology Sydney with a tourism management and marketing degree, Zolotarev worked in events and hospitality. She was drawn to the creative side of the business and, having grown up in a food-focused family with a passion for home cooking, started to immerse herself. When she applied for MasterChef Australia, 'it all kind of erupted from there.' Zolotarev was a contestant in Season 8 of the reality show, which aired in 2016. People immediately began asking her if she planned to write a cookbook. 'I felt, 'Why would I write a cookbook? I've got nothing to write about. I'm just starting out. I'm just learning.'' She started doing work experience in restaurants and continued honing her skills. But those questions planted a seed. Zolotarev took on more food styling and content creation work in the hopes of figuring out her next steps. Then, on a trip back to Ukraine, her future snapped into focus. 'I was in Kyiv, and I was just hit with this incredible, intense sensation of, 'Oh my gosh, the food culture here is absolutely incredible.' And it was funny because I, of course, had travelled back over the years before that, but I wasn't in that mindset. I guess it was normal for me. It was like an everyday thing. I was brought up with the food. I would travel back and forth, and it was just around me. But after MasterChef, it was a really eye-opening experience.' In the TV studio, she had learned about many other food cultures. Travelling with her mother, Elena, in 2017, Zolotarev saw the cuisines of her heritage in a new light. She knew she had a story to tell. Zolotarev was born in Baranavichy, western Belarus, to a Ukrainian dad and a Belarusian mom. In 1994, her family left her father's home in Kharkiv, Ukraine, after living with her paternal grandparents for five years. Whenever she returns, she typically visits both countries. 'I remember being on the bus (from Ukraine to Belarus), and it was this really intense feeling and sensation. And I just felt like, 'I have to share more about this food culture,' whatever that might mean at that point. I didn't really know exactly. And then I also kind of felt like, 'OK, I want to write a book. Maybe I do have something to write about.'' Zolotarev spent several years laying the groundwork for Sour Cherries and Sunflowers, talking with family, including her babushka Liana, who left Ukraine to join them in Sydney, and her late babushka Lida in Baranavichy. It was a valuable learning period. Though Zolotarev had grown up steeped in the food culture, she didn't know its intricacies. 'It all came with this incredible deep knowledge and understanding and a connection for food and culture and so much meaning,' says Zolotarev. 'It was a very step-by-step, slow, intuitive process. So, every year, there was sort of a different stage and chapter, and I went back and forth trying to understand how to bring this book together. Because it was all new to me, and on the side, I was also working in food. It was all just very new territory, new waters that I was trying to get through and understand.' She discovered the hows and whys of the dishes and learned more about her own history through interviews with family, friends and other members of the community. Zolotarev says that interviewing her family was especially rewarding. As they recounted stories, past experiences and people dear to them came to life. As with the Russian invasion of Ukraine , circumstances can change quickly. 'So, it's up to us people to capture (traditions) in some way or another, whether it's writing, recording, documenting visually or somehow. Those things are important for our identity and our connection. And I think one of the things is when people do move away, far from their original home because of conflict, there's this trauma that's either hidden away and locked up, or it's alive and continues. And every family deals with it differently, of course, but it's there, and I think it's important to express it or process it in some way or another.' Spending time with talented cooks in Belarus, Ukraine and the diaspora made her realize how much she still had to learn. '(The) research for the book has been one of the most special processes for me. I was just thinking last week how it's actually kind of sad that it's over,' says Zolotarev, laughing. 'The journey meant so much to me, and I'm going to treasure it.' Kholodnyk Serves: 4 5 medium-large beets (stems and leaves removed, but keep the skin and the natural ends for flavour and colour), washed well 1 tsp apple cider vinegar 4 eggs 2 cucumbers Small bunch of dill A few stems of spring onions (scallions) Lemon wedges, for squeezing Sour cream, to serve Put the beets in a large saucepan and cover with enough water to cover the beets and fill the pan three-quarters full, about 2.5 litres. Add the vinegar, cover with a lid and bring to the boil, then reduce the heat and simmer for 1 hour or until the beets are cooked through. (Check by piercing one with a fork or skewer: it should easily pass through to the centre.) Transfer the cooked beets to a bowl, reserving the liquid, as this will be the base of the soup. Cool the liquid to room temperature, then transfer the liquid and bowl of beets to the refrigerator for a couple of hours until cold. Meanwhile, place the eggs in a small saucepan of cold water. Bring to the boil and cook for 9 minutes, then plunge into cold water to stop the cooking. Peel and slice into halves or quarters. When you are ready to serve, prepare the rest of the ingredients: dice the cucumbers, finely chop the dill, and slice the spring onions. Peel and grate the chilled beets. Divide everything between serving bowls and serve with a squeeze of lemon, a dollop of sour cream and some fresh bread, if you like. Piarlouki sa slivami i hreckimi arechami Serves: 4 as a side 200 g (7 oz) pearl barley, rinsed 200 g (7 oz) chestnut (Swiss) mushrooms or other seasonal ones, cleaned then halved or quartered 4 plums, halved and pitted 1 red (bell) pepper, deseeded and cut into wedges 2 onions or shallots, quartered 30 g (1 oz) butter, melted Salt and pepper For the pesto: 50 g (1 3/4 oz) walnuts 1/2 bunch of parsley 1/2 bunch of dill 1/2 bunch of basil 1 garlic clove Generous drizzle of golden unrefined sunflower oil Put the pearl barley in a saucepan with 750 mL (3 cups) water. Add a pinch of salt and bring to the boil. Cover with a lid and lower the heat to simmer for 25-30 minutes, stirring occasionally, or until all the water has been absorbed. You may need to add more water. Once cooked, transfer to a large bowl and leave to cool, stirring occasionally. Preheat the oven to 180C convection (200C/400F). Spread the mushrooms, plums and the vegetables over a baking tray, drizzle with the butter and season with salt and pepper. Roast for 30 minutes. To make the pesto, soak the walnuts in a small bowl of water for 15 minutes. Drain, then add to a blender with the herbs, garlic and oil. Blend and season with salt to taste. Stir a spoonful of the pesto through the pearl barley, then toss through the roasted mushrooms, plums and veg, along with any juices in the tray. Serve warm or cool with extra pesto on the side. Farshirovannyye kotleti Serves: 4-6 (makes about 12) 2 small onions, very finely chopped 1 kg (2 lb 4 oz) ground chicken 100 g (3 1/2 oz) butter or sunflower oil for cooking, plus extra butter for the filling 550 g (1 lb 4 oz) mushrooms, very finely diced 1 garlic clove, finely chopped 150 g (5 1/2 oz) breadcrumbs 1 kg (2 lb 4 oz) potatoes, washed, unpeeled 1/2 bunch of fresh dill, fronds chopped Salt and pepper Radishes, to serve Set aside half the chopped onion. Transfer the other half to a bowl with the chicken, season well with salt and pepper and mix thoroughly. Heat a large frying pan over a high heat and add 40 g (1 1/2 oz) of the butter or oil along with the mushrooms and stir them through. The mushrooms will quickly absorb the fat. Let the mushrooms cook and release their liquid — this takes about 2 minutes — stirring them occasionally. Then, add the other half of the chopped onions and season with a pinch of salt. Cook, stirring, for a few minutes until the liquid has mostly evaporated. The mixture should smell earthy and aromatic. Stir through the garlic and turn off the heat — you want a bit of 'rawness' to the garlic. Transfer the mushrooms to a bowl and set aside until warm but not hot. To make the stuffed chicken rissoles, place the breadcrumbs in a shallow bowl. Wet your hands and take around 90 g (3 1/2 oz) of the raw chicken mixture. I recommend weighing the first amount so you get a good idea of the approximate amount you need. Flatten it in the palm of your hand to an oval shape about 1-cm (1/2-in) thick. Place 2 heaped teaspoons of the cooled mushroom mixture in the centre, then a small knob of butter (about a third of a teaspoon) on top. Bring the outside edges together, encasing the mushroom filling and covering any holes with extra ground chicken. Reshape your rissole into an oval and place in the bowl of breadcrumbs, coating on all sides. Set aside on a board and make the rest. Heat a large pan over a medium-high heat and add a generous amount of butter (about 20 g/3/4 oz) or about a tablespoon of oil. Once hot, add a few rissoles to the pan without overcrowding them. Cook for about 3 1/2 minutes on each side or until the surfaces are golden and crispy, adjusting the heat as needed. Set aside the cooked rissoles and keep warm while you cook the next batch, adding more butter or oil to the pan between batches. Meanwhile, put the potatoes in a medium-large pan and cover with water. Add a generous seasoning of salt. Cover with a lid and bring to a simmer. Move the lid slightly to the edge and simmer the potatoes for about 15 minutes. The time depends on the type and size of your potatoes, but I recommend checking the centre of one after about 15 minutes by piercing it with a fork. Once cooked, drain and transfer the potatoes to a serving bowl and add generous amounts of butter, salt and dill. Serve the rissoles with the potatoes and radishes or other fresh vegetables of your liking. Recipes and images excerpted from Sour Cherries and Sunflowers: Recipes from Eastern Europe and Beyond by Anastasia Zolotarev. Photography by Karen Fisher and Anastasia Zolotarev. 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