Latest news with #FarEastern
Epoch Times
3 days ago
- Business
- Epoch Times
South Korea's Presidential Hopefuls Make Final Push Before Election Day
Two candidates, Lee Jae-myung and Kim Moon-soo, who are hoping to become South Korea's next president, are making their final pitches to voters ahead of the June 3 election. On Monday, they crisscrossed the country with varying promises to revive the economy and steer the Far Eastern nation out of months of political turmoil sparked by a failed attempt to impose martial law.
Yahoo
27-05-2025
- Business
- Yahoo
Russia expected to lose 10% of its coal exports
Russia's coal industry, which has plunged into a deep crisis after the European Union imposed an embargo on coal supplies and the decline in global prices, is not expected to recover within the next five years. Source: The Moscow Times, an independent Amsterdam-based news outlet, citing an industry outlook by Neft Research, an analytics and consultancy group specialising in global fuel markets Details: By 2030, Russia's seaborne coal exports, which account for over 80% of total coal exports, are projected to fall by 10% compared to 2024 levels, amounting to 150 million tonnes. In 2024, seaborne exports had declined by 7.5% year-on-year, while total exports dropped by 9%. Analysts attribute the drop in exports to falling global coal prices. These prices are expected to decrease by 5-20% compared to last year's level by 2030, due to slower demand growth in Asia. As a result, shipments through Far Eastern ports are expected to grow by 27% by 2030, reaching 118.7 million tonnes, while exports in the western direction will fall by 40%. Ports in the Baltic Sea and Murmansk Oblast will be operating at less than 35% capacity. Shipments via Baltic and Arctic ports will drop fourfold, to 11 million and 2.9 million tonnes per year respectively. Exports through southern ports will remain stable at 17.8 million tonnes, due to proximity to markets in India and Türkiye. Only exporters of coking coal are expected to maintain profitability. Sales of thermal coal and anthracite, which is in demand on the Chinese market, will remain unprofitable. This situation may cause coal mining companies that produce massive grades of coal underground to leave the market, Neft Research concluded. Background: Western sanctions and difficulties with exports to Asia have triggered a major crisis in Russia's coal industry. In April 2025, China's imports of Russian coal dropped by 13% year-on-year, to 7.4 million tonnes. Global prices for thermal coal have fallen to their lowest level since 2020. Support Ukrainska Pravda on Patreon!
Daily Record
19-05-2025
- Health
- Daily Record
Ex TUI flight attendant facing jail after ‘trying to smuggle £1.2m drugs'
A former flight attendant could spend decades "rotting behind bars" after she was allegedly caught smuggling £1.2million worth of drugs while travelling. Charlotte May Lee was arrested after arriving in Sri Lanka from Thailand on Monday, May 12. The 21-year-old, who previously worked for TUI, had left her home in Surrey for the Far Eastern country two weeks ago, following vague remarks to friends about meeting a man while there. However, at Bandaranaike International Airport in the city of Colombo, her two suitcases were found to reportedly have been filled with 46kg of a highly addictive drug known as kush. The synthetic substance is made from a combination of drugs, chemicals and even human bones, reports the Mirror. A friend of Lee's family told the Sun on Sunday : 'We're frantically worried. She was arrested then seemingly abandoned and is rotting in a jail cell. She's very scared.' Another friend said: 'She's been told if convicted, because of the size of the drugs haul, she's looking at between 20 and 25 years in jail. 'British Embassy staff warned her she's going nowhere soon.' Kush is 25 times more potent than opioid fentanyl, and is often cut with deadly chemicals. It was first discovered in Sierra Leone, West Africa, around four years ago, however no official statistics exist on the exact number of related deaths. What is known is its horrific effects on users' mental health, with figures from the Sierra Leone Psychiatric Hospital showing a surge of nearly 4,000 per cent in kush-related admissions between 2020 and 2023, totalling 1,865. Around 63 per cent of current patients presented with issues linked to taking the drug. A National Task force on Drugs and Substance Abuse has been established to tackle the crisis. Centres are expected to be opened "adequately staffed by trained professionals to offer care and support to people with drug addiction". Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Lee's case is similar to that of fellow Brit, 18-year-old Bella May Culley, who was detained in Georgia on May 11 carrying £200,000 worth of cannabis. She had vanished and stopped contact with her family while travelling in Southeast Asia, before turning up in the ex-Soviet country. If found guilty of the drugs offences, she faces a long prison sentence- potentially life behind bars in the worst case. Her grandfather William Culley, 80, previously revealed: "She went to the Philippines to see somebody, a lad there, who she used to go out with a couple of years ago, who was working out there. "She said, ' I'm going on my own, but I'm meeting Ross out there.' Or Russ, I'm not sure what his name is. He was working out there for his father's company or something – but now I wonder if what she told me was true." He added: "Last night they were told they could see her in the morning. They said they'd ring me straight after they had seen her, but I haven't had a call. They must still be waiting."
Arab Times
17-05-2025
- Business
- Arab Times
$4 trillion Gulf investments pledged in US over 3 years
Recent visits by the U.S. President have resulted in $4 trillion worth of investments in the U.S. over the next three years from three Arab Gulf countries: Saudi Arabia, Qatar, and the UAE. These investments are expected to yield productive outcomes that could strengthen security and stability in the region. There are also strong indications that a new deal between the U.S. and Iran is imminent, which could help stabilize oil prices. While huge sums of money are being spent, there is hope that oil prices will recover in the coming years. Many Arab Gulf states are currently facing huge deficits due to low oil prices, which are insufficient to cover even 40 percent of their state budgets and expenditures. The visit itself serves as a strong indication of a new and emerging alliance between the USA and the Gulf States, in terms of the security and safety of all Gulf nations. This is aimed at ensuring they work together for defense in the event of an emergency. Meanwhile, the Gulf states continue to use all available means to secure their safety while simultaneously investing in the U.S. through arms purchases and financial investments. From this perspective, Kuwait is emerging as a leading global investor, as it is channeling its surplus funds into overseas investments, primarily in the U.S. and European countries. This investment strategy is expected to extend further into Far Eastern markets, including Japan, and eventually China, amounting to $40 billion. This shift is becoming a huge development, offering potential for growth in Kuwait's oil industry, as well as in refining and petrochemicals. The Kuwait Petroleum Corporation (KPC) should seriously consider these opportunities. The President's visit to our region is a clear indication of the commitment to the stability of the region. However, one element that was overlooked is the future stability of oil prices, especially among the top producers. It appears the issue was intentionally left untouched, allowing the oil markets to make their own predictions and remain separate from politics. Undoubtedly, the visit was a highly successful one, with a $4 trillion deal, marking the largest ever weapons purchase in a single state visit.
The Irish Sun
06-05-2025
- Sport
- The Irish Sun
Zhao Xintong, 28, tipped to become richest snooker player in history and dwarf Ronnie O'Sullivan's earnings
ZHAO XINTONG has been tipped to become the richest snooker player in history. Yet Asia's first world champion has been warned by his manager that he is not allowed to splash too much cash despite his £500,000 title winnings. Advertisement 3 Zhao Xintong is tipped to become the richest snooker player in history 3 Xintong could make more than snooker legend Ronnie O'Sullivan 3 Ronnie O'Sullivan has earned close to £15million in career prize money The Chinese cueist flies home on Wednesday and if the reception he received outside the Crucible is any gauge, he will be mobbed on his return. Hordes of fans waited patiently for him outside the Stage Door to the Sheffield theatre following his 18-12 win over Mark Williams – and they were back again on Tuesday morning for selfies and autographs. Sheffield-based Advertisement Read More on Snooker WPBSA chairman Jason Ferguson said: 'Xintong has the potential to become the richest earning snooker player in the history of the sport. 'That's quite a bold statement when you think about the titles that 'But the size of the market is huge and when you see the association of the brands who want to partner with snooker, it has endless potential. 'Let's sing the praises of this young boy. He's an amazing talent. To go all the way in this is nothing short of a miracle. Advertisement Most read in Snooker CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS 'This is one of the biggest occasions snooker has ever seen. 'We've seen the growth in the China market and we've seen the size and scale of grass-roots development underneath that. Emotional Zhao Xintong shares touching moment with rarely-seen girlfriend after World Snooker Championship triumph 'To see a world champion returning to China a national hero is really going to send the sport to another level.' Advertisement So much of this year's tournament had been framed by the 40th anniversary of the 1985 Black Ball Final, one of the significant moments in the sport's history and enduring popularity. Xintong's victory, albeit tainted by his past involvement in a match-fixing scandal, could have a similar impact in the Far East. There are more than 300,000 official snooker and billiards clubs in China and it is played by hundreds of millions of people. Ferguson reckons opening up this key Far Eastern market might open doors at IOC level and help their chances of being part of a future Olympic Games, maybe as soon as Brisbane 2032. Advertisement He said: 'We're talking to all the multi-sport bodies. There's a lot of politics involved and these bids are about multi-cue sports. 'Probably the best potter' 'It's quite complicated. But at the end of the day, the size of snooker now, how important China is to the IOC, someone has to look at this today and say this is now snooker's time. 'It's a game-changer for us if we get in somewhere like the Olympics. The Paralympics may be another route.' Williams – who downed shots at the after-party while Xintong left after just an hour – called his opponent ' probably the best potter I've ever seen'. Advertisement The Welshman, 50, said: 'Good luck to him. I'm sure he's going to earn a few quid out of this. 'He could dominate or at least give Judd Trump and Kyren Wilson a run for their money. We've got a new superstar. 'I'm sure there are Chinese companies ready to throw zillions at him already. Ronnie O'Sullivan comparisons 'It's great for our sport to have someone attacking and young. He's 28. Not a Luke Littler but similar. Advertisement 'He's as close and as good to watch as O'Sullivan when he was younger. 'He just walks round the table as if he's going to the toilet, strolling, and pots from anywhere and walks around without a care in the world. 'Two minutes later he's on 65, and you have no idea how he's got 60 just like that.' Xintong's manager Victoria Shi – who runs an academy in Sheffield – will make sure he does not get too big for his boots as the money floods in. Advertisement She said: 'Let him enjoy it, but if he enjoys it too much, I'll tell him off. I will. He practises for six or seven hours a day. He works hard. 'He's the first Asian world champion. That's huge. Its like if Tottenham won the Premier League and Son [Heung-min] was the first Asian footballer to win. It's the same.'
