China bullying neighbours to reorder Indo-Pacific region: Pentagon

Agencies
February 13, 2018

WASHINGTON, Feb 13: China is coercing its neighbours to reorder the Indo-Pacific region, the Pentagon told Congress in its annual budget proposals for the fiscal 2019, beginning October 1 this year.

Trump administration on Monday released their proposal for the fiscal year 2019 budget. Fiscal years are different from calendar years. The budgetary proposal covers October 1, 2018, through September 30, 2019.

"China is leveraging military modernisation, influence operations and predatory economics to coerce neighbouring countries to reorder the Indo-Pacific region to their advantage," the Pentagon said in its annual defence budget for the fiscal 2019.

As China continues its economic and military ascendance, asserting power through an all-of-nation long-term strategy, it will continue to pursue a military modernisation programme that seeks Indo-Pacific regional hegemony in the near-term and displacement of the US to achieve global preeminence in the future, it said.

The most far-reaching objective of this defence strategy is to set the military relationship between the US and China on a path of transparency and non-aggression, it said.

According to the Pentagon, the central challenge to the US prosperity and security is the reemergence of long term, strategic competition by what the national security strategy classifies as revisionist powers.

"It is increasingly clear that China and Russia want to shape a world consistent with their authoritarian model — gaining veto authority over other nations' economic, diplomatic and security decisions," it said.

The Pentagon said Russia seeks veto authority over nations on its periphery in terms of its governmental, economic and diplomatic decisions to shatter the North Atlantic Treaty Organisation and to change European and Middle East security and economic structures to its favour.

The use of emerging technologies to discredit and subvert democratic processes in Georgia, Crimea and eastern Ukraine is concern enough, but when coupled with its expanding and modernising nuclear arsenal the challenge is clear.

"Rogue regimes such as North Korea and Iran are destabilising their regions by pursuing nuclear weapons or sponsoring terrorism," the Pentagon said.

North Korea seeks to guarantee regime survival and increased leverage through a mixture of nuclear, biological, chemical, conventional and unconventional weapons and a growing ballistic missile capability to gain coercive influence over South Korea, Japan and the US.

In the Middle East, Iran is competing with its neighbours, asserting an arc of influence and instability while vying for regional hegemony, using state-sponsored terrorist activities, a growing network of proxies and its missile programme to achieve its objectives, the Pentagon said.

According to the budgetary proposals, competitor states, especially China and Russia have narrowed department of defence's military technological advantages, demanding the US find new and innovative ways to fight in the future.

"China is now a strategic competitor, using predatory economics to intimidate its neighbours while militarising features in the South China Sea. Russia has violated the borders of nearby nations, and pursues veto power over the economic, diplomatic and security decisions of its neighbours," it said.

Concurrently, North Korea's actions and rhetoric continue despite the United Nation's censure and sanctions.

Iran continues to sow violence and remains the most significant challenge to the Middle East stability.

Despite the defeat of the Islamic State of Iraq and Syria's (ISIS) physical caliphate, threats to stability remain as terrorist groups with long reach continue to murder innocent people and threaten peace, the Pentagon added.

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News Network
July 18,2020

Global coronavirus infections passed 14 million on Friday, according to a Reuters tally, marking the first time there has been a surge of 1 million cases in under 100 hours.

The first case was reported in China in early January and it took three months to reach 1 million cases. It has taken just four days to climb to 14 million cases from 13 millionrecorded on July 13.

The United States, with more than 3.6 million confirmed cases, is still seeing huge daily jumps in its first wave of Covid-19 infections. The United States reported a daily global record of more than 77,000 new infections on Thursday, while Sweden has reported 77,281 total cases since the pandemic began.

Despite the surging cases, a cultural divide is growing in the country over wearing masks to slow the spread of the virus, a precaution routinely taken in many other nations.

U.S. President Donald Trump and his followers have resisted a full-throated endorsement of masks and have been calling for a return to normal economic activity and reopening schools despite the surging cases.

COVID-19 Pandemic Tracker: 15 countries with the highest number of coronavirus cases, deaths

Other hard-hit countries have “flattened the curve” and are easing lockdowns put in place to slow the spread of the novel virus while others, such as the cities of Barcelona and Melbourne, are implementing a second round of local shutdowns.

The number of cases globally is around triple that of severe influenza illnesses recorded annually, according to the World Health Organization.

The pandemic has now killed more than 590,000 people in almost seven months, edging towards the upper range of yearly influenza deaths reported worldwide. The first death was reported on Jan. 10 in Wuhan, China before infections and fatalities then surged in Europe and later in the United States.

The Reuters tally, which is based on government reports, shows the disease is accelerating the fastest in the Americas, which account for more than half the world’s infections and half its deaths.
In Brazil, more than 2 million people have tested positive including President Jair Bolsonaro, and more than 76,000 people have died.

India, the only other country with more than 1 millioncases, has been grappling with an average of almost 30,000 new infections each day for the last week.

Those countries were the main drivers behind the World Health Organization on Friday reporting a record one-day increase in global coronavirus cases of 237,743.

In countries with limited testing capacity, case numbers reflect only a proportion of total infections. Experts say official data likely under-represents both infections and deaths.

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News Network
March 18,2020

Dubai, Mar 18: Emirates, one of the world's biggest international airlines, has asked pilots to take unpaid leave to help it mitigate the impact of the coronavirus pandemic that has shattered demand for global travel.

"To this end you are strongly encouraged to make use of this opportunity to volunteer for additional paid and unpaid leave," the airline said in an internal email to pilots, seen by Reuters.

Emirates earlier this month asked some staff to take unpaid leave, although at that time it was not available to pilots.

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News Network
June 19,2020

Jun 19: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

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