Bangladesh has learned a valuable lesson over the past two months: Do. Not. Trust. The. New. York. Fed.
On a quiet Friday morning in early February, a series of instructions using authenticated SWIFT codes was sent to 33 Liberty allegedly from the Bangladesh central bank requesting the transfer of nearly $1 billion from the country’s FX reserves. Continue reading
If it’s not limited to ISIS, then this could also be perceived as a hedge against Iran and possibly a new bloc opposed to Israel.
“The countries here mentioned have decided on the formation of a military alliance led by Saudi Arabia to fight terrorism, with a joint operations center based in Riyadh to coordinate and support military operations,” the statement said. Continue reading
MOSCOW (Sputnik), Ekaterina Blinova — By involving India and Russia in its “One Belt, One Road” project, China has dealt a final blow to ambitious New Silk Road initiative, launched by the United States in 2011.
“Since China’s “One Belt and One Road” strategy, which refers to the Silk Road economic belt and the 21st century maritime Silk Road, was initiated at the end of 2013, significant progress has been made and increasing support has been garnered from the international community,” the Global Times, a Chinese English-language media outlet noted. Continue reading
DISCUSSIONS are under way at the ‘highest levels’ regarding plans by the Chinese People’s Liberation Army Navy to build a base at Walvis Bay in the next 10 years.
According to reports in the Chinese media, Walvis Bay will be one of 18 naval bases that will be established in various regions: Pakistan, Sri Lanka and Mynanmar in the northern Indian Ocean; Djibouti, Yemen, Oman, Kenya, Tanzania and Mozambique in the western Indian Ocean; and Seychelles and Madagascar in the central South Indian Ocean.
“These three strategic lines will further enhance China’s effectiveness in taking responsibility for maintaining the safety of international maritime routes thereby maintaining regional and world stability,” the media reports said.
DHAKA: Bangladesh has seen a huge leap in gold smuggling to neighboring India, the customs intelligence chief said Wednesday.
Mainul Hossain Khan said his team was catching gold smugglers red-handed every day at the country’s two international airports, with bullion brought in mainly from the Middle East and believed destined for India.
They had seized 623 kilograms (1,370 pounds) of gold since July 2013, up from just 15 kilograms over the whole of the previous five years, he said. Continue reading
Consider the territorial disputes roiling the Indian Ocean and other East Asian regions, sparked by China’s repeated _ and increasingly assertive _ efforts to claim sovereignty over vast maritime areas. As China’s incursions reignite long-smouldering disagreements and threaten to destabile [sic] the regional status quo, countries throughout Asia are reconsidering their strategic positions.
For example, the Philippines is revamping its security strategy by enhancing cooperation with the United States _ China’s counterweight in the region _ only two decades after it closed two major American military installations, the naval base at Subic Bay and Clark Air Base. Vietnam, too, has strengthened its ties with the US. And, after decades of absence, America has resumed training programmes for Indonesia’s military. Continue reading
A partial unification of Asia begins, under the Chinese umbrella.
KUNMING – China is looking to revive the ancient “Southern Silk Road” linking its southwestern regions with Southeast and South Asia, as it aims to boost cooperation with countries along the once-booming trade route.
China has had trade, religious and cultural exchanges with South Asian countries by way of the “Southern Silk Road” since ancient times, Dilip Barua, Minister for Industries of Bangladesh, said at the ongoing 8th China-South Asia Business Forum in Kunming, capital of southwest China’s Yunnan province.
With a history of more than 2,000 years, the ancient trade route, stretching over 2,000 kilometers long, was dubbed the “Southern Silk Road” by historians. Continue reading
Newly-elected Prime Minister Mian Muhammad Nawaz Sharif, in his maiden speech, revealed that Islamabad and Beijing have expressed a keen desire to implement the Gwadar-Khunjerab-Kashgar rail network. The project had been discussed during talks with Chinese Premier Li Keqiang in his recent visit to Pakistan.
While PM Sharif said the actual details of the project would be shared at a later date, he also stated that both countries will soon establish a taskforce to complete the project within the next five years, indicating that it may be implemented on a fast-track basis.
The successful implementation of the Gwadar-Khunjerab-Kashgar rail network will help China secure oil supply and commercial routes on the Indian Ocean, furthering its plans to secure yet another strategic energy and trade corridor. Besides, the project is expected to provide a major boost to Pakistan’s sinking economy. Continue reading
The government of Turkey is building a 15-acre, $100 million mega-mosque in Lanham, Maryland. Turkey’s Prime Minister Erdogan visited the site on May 15 as part of his official visit to the U.S.. The state of Maryland was officially represented at the event by its Secretary of State John McDonough.
The event was also attended by the leaders of two U.S. Muslim Brotherhood entities. Continue reading
NEW DELHI: Increasing presence of the Chinese maritime forces in the Indian Ocean Region (IOR) and disciplinary issues in the force are expected to be discussed by the top Navy brass in their commanders’ conference starting on Tuesday.
The Navy has been concerned over the increasing presence of Chinese navy’s submarines and other warships in the IOR. In a recent report submitted to the defence ministry, the Integrated Defence Staff headquarters had informed the government quoting the data by American agencies that 22 encounters of Chinese submarines have taken place outside its territorial waters in the IOR. Continue reading