China tests new stealth fighter; eyes export sales

December 26, 2016

Beijing, Dec 26: China has tested an improvised version of its stealth fighter and plans to sell it at half the price of the US variant to break Western monopoly over the high-tech aircraft, which will have strategic implications for India as Pakistan has already shown interest in acquiring it.plane

An improved version of China's fifth-generation FC-31 Gyrfalcon stealth fighter jet has conducted its maiden flight last week in Shenyang, capital of Liaoning province, state-run China Daily reported today.

Previously known as the J-31, the twin engine, radar evading aircraft is still under development by Shenyang Aircraft Corp, part of the Aviation Industry Corp of China, (AVIC), it said.

The Chinese stealth aircraft have strategic significance for India as besides China, Pakistan - which is producing JF-17 Thunder fighter along with Beijing - has already evinced interest in acquiring China's stealth fighter.

India is yet to have stealth aircraft in its arsenal. AVIC displayed a large-scale model of the FC-31 at the 14th Dubai Airshow in the UAE in November, 2015.

Specifications supplied by AVIC show the jet has a maximum takeoff weight of 28 metric tonnes, a flight radius of 1,250 kms and a top speed of Mach 1.8, or 1.8 times the speed of sound.

It can carry eight tonnes of weapons. The plane can hold six missiles in its internal weapons bay and another six under its wings, AVIC said.

The first test flight of the FC-31's second prototype took place on Friday at Shenyang Aircraft Corp, four years after the first prototype took to the skies, the Daily quoted officials as saying.

The report also said fifth-generation fighters are the most advanced available. Fu Qianshao, an aircraft expert with the PLA Air Force, said the new FC-31 has state-of-the-art instruments such as its electro-optical targeting system and helmet-mounted display and sight system.

The new FC-31 seems to have better stealth capabilities, improved electronic equipment and a larger payload capacity, said Wu Peixin, an aviation industry observer in Beijing said.

"Compared with the first FC-31, there are a lot of improvements on the second prototype. Changes were made to the airframe, wings and vertical tails, which make it leaner, lighter and more manoeuvrable," he said.

AVIC wants to use the FC-31 to capture market share at home and abroad but the company is making a big push to attract foreign buyers with its medium-sized stealth combat planes, he said.

Li Yuhai, deputy general manager of AVIC, previously said AVIC plans to use the FC-31 to "put an end to some nations' monopolies on the fifth-generation fighter jet" and this plane "is able to compete with any other aircraft of its kind".

"I believe the aircraft will have bright prospects in the market. Based on my experience and knowledge, I presume its price will be around USD 70 million, about half that of the US' Lockheed Martin F-35 Lightning II," Fu said.

"Moreover, the fourth-generation Euro fighter Typhoon and Dassault Rafale fighter jets are priced at about USD 100 million. All of these mean you can spend a lot less money to get an advanced, fifth-generation stealth combat plane," Fu told the Daily.

The only fifth-generation fighter jet currently available in the market is the US' F-35 Lightning II, but the US sells it only to allies.

Following the Friday test flight, aviation enthusiasts posted pictures on Chinese websites, showing what they said was the second prototype in flight.

The FC-31 was unveiled in October, 2012, when the first prototype made its maiden flight, becoming the country's second fifth-generation fighter jet following the J-20, which conducted its first flight in January, 2011.

Deliveries of the J-20 to the People's Liberation Army Air Force have started.

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News Network
March 25,2020

Wellington, Mar 25: New Zealand has declared a state of emergency as it prepares to go into an unprecedented lockdown late Wednesday for about a month.

The declaration temporarily gives police and the military extra powers. And Prime Minister Jacinda Ardern says any New Zealanders returning home from overseas who show symptoms of COVID-19 will be put in isolation at an approved facility.

“I have one simple message for New Zealanders today as we head into the next four weeks: ‘stay at home,’” Ardern said. “It will break the chain of transmission and it will save lives.”

Ardern said exceptions include people working crucial jobs, those leaving to pick up essentials like groceries, and those engaging in solitary exercise.

The country has 205 reported cases of the virus, although Ardern said that number could rise into the thousands before it begins to recede even with the strict measures being taken.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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Agencies
January 7,2020

Tehran, Jan 7: The Iranian Parliament on Tuesday ratified a motion dubbed as "harsh revenge", that considers all members of the US Pentagon and those responsible for the death of Major General Qasem Soleimani as "terrorist forces".

The triple-urgency motion is a modification of a previously ratified bill on April 23, 2019, that designated the US Central Command (CENTCOM) as a terrorist organization in retaliation to the same designation imposed on Iran's Islamic Revolutionary Guard Corps (IRGC) by Washington, the Tehran-based Mehr News Agency said in a report.

Parliament Speaker Ali Larijani said in Tuesday's open session that in the previous anti-US law, CENTCOM was designated as a terrorist entity.

"Today, following the cruel US measure in assassinating General Soleimani, the responsibility of which was accepted by the US President, we modify the previous law and announce that all members of Pentagon, commanders, agents and those responsible for the martyrdom of Gen Soleimani will be considered as terrorist forces," Larijani was quoted as saying in the report.

All of Iran nation supports the resistance, he added.

The modified law also allows withdrawal of $223 million to the IRGC's Quds Force from the National Development Fund of Iran for the next two months, added Larijani.

He said that the Supreme Leader Ayatollah Ali Khamenei's permission to withdraw the fund has been obtained, the Mehr report added.

Following its ratification, MPs chanted anti-US slogans at the Parliament.

Soleimani and his son-in-law and Abu Mahdi al-Muhandis, the second-in-command of Iraq's Popular Mobilization Front (PMF), along with eight other people were killed in the January 3 drone attack ordered by US President Donald Trump.

Soleimani, 63, was the elite Quds Force chief in charge of IRGC operations outside Iran, and has been on the ground in Syria and Iraq supervising militias backed by Tehran.

The Quds Force holds sway over a large number of militias across the region ranging from Lebanon to Syria and Iraq.

The attack has led to widespread condemnation in Iran. Supreme Leader Khamenei and President Hassan Rouhani has vowed revenge on the US.

On Sunday, Iranian MP Abolfazl Aboutorabi threatened to attack the heart of American politics.

During an open session of the Iranian Parliament on Sunday afternoon, President Trump was called a "terrorist in a suit" after he threatened to hit 52 Iranian sites hard if Tehran attacks Americans or US assets.

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