US President Joe Biden is set to meet with South Korean and Japanese leaders during the upcoming G7 leaders summit in Japan, according to White House National Security Advisor Jake Sullivan. A trilateral meeting will be attempted between the leaders.
The G7 will meet in Japan and there are increasing expectations that the group will tighten economic sanctions against Russia. Despite the reality that sanctions have affected Russia with a heavy toll, it is widely believed they have not succeeded in their geopolitical aims. The sanctions have instead driven Russia deeper into the embrace of emerging-market nations such as China, India and Turkey, providing leverage for Russian foreign policy and making a nonsense of western compliance efforts. There is even wider concern related to the potential that sanctions could collapse an already weak global economy. The EU has also recently announced that it was considering penalties for EU firms that help Russia evade western sanctions, such as providing financing, investing in sanctioned sectors, or sharing technologies that could aid the energy sector.
Six Pacific countries are at a high risk of debt distress due to government spending in response to the COVID-19 crisis, according to a report by the World Bank. Fiscal consolidation is needed in Kiribati, the Republic of the Marshall Islands, Federated States of Micronesia, Samoa, Tonga and Tuvalu. These countries lack access to domestic debt markets and international capital markets, the report said, meaning high debt levels could pose a problem. Vanuatu was rated as medium-risk, while Palau and Nauru’s debt was rated as sustainable. The report recommended improving tax collection and allocating more to social assistance and protection measures.
Competing in the Mare Nostrum Swim Tour in Barcelona, Hong Kong's Siobhan Haughey broke the fastest 100 metres freestyle time in the world this year, finishing in 52.50 seconds. The performance was faster than everywhere but her silver-medal victories over the same distance at the Tokyo Olympics in 2021. This result, paired with her win in Canet en Roussillon earlier this month, means Haughey is already preparing to qualify for the 2024 Paris Olympics in the 50m freestyle. The Mare Nostrum Tour occurs across three legs and is part of the worldwide qualifying process for both the World Championships and the next Olympics.
China's special envoy for Eurasian Affairs, Li Hui, has urged all parties to create conditions for peace talks relating to the Russia-Ukraine conflict during a visit to Kyiv. Hui exchanged views with President Zelenskiy and the Ukrainian foreign minister in an effort to end the conflict through a political settlement. China is willing to promote the international community to resolve the Ukrainian crisis, making its own efforts to stop the fighting and (establish a) ceasefire and restore peace as soon as possible.
Japan military hospital to treat injured Ukrainian soldiers - lawmaker
Reuters
23-05-18 05:26
Japan is preparing to treat Ukrainian soldiers injured in the recent conflict with Russia at a Tokyo hospital run by the military. The Self-Defence Force Central Hospital has never treated foreign soldiers before, but the move is being seen as Japan's latest support measure following Russia's invasion. Details including costs will be decided at a meeting between Japanese Defence Minister Yasukazu Hamada and Ukrainian ambassador to Japan Sergiy Korsunsky.
While artificial intelligence (AI) raises some concerns over its impact on society, economists writing in the Financial Times argue that policymakers should be focusing on the distribution of the productivity gains AI could potentially bring. This issue concerns intellectual property rights, an issue which is predicated on who controls access to the technology. At one end of the spectrum there is a completely proprietary world, in which the most useful AI is the intellectual property of a monopolistic or oligopolistic company. At the other extreme, there is an open-source world where productivity gains would be earned by those who deploy the technology. Governments could legislate to increase transparency and access to such technologies.
An 84-year-old climber attempting to climb all of the highest peaks in the world was rescued after being injured on his attempt to scale Mount Dhaulagiri in Nepal. Carlos Soria was taken by rescue helicopter from the mountain to a hospital in Kathmandu for treatment. Sherpa guides and fellow climbers helped Soria down the mountain to the base camp. Before his accident, Soria had successfully scaled 12 of the 14 highest mountains above 8,000 metres.
Rachel de Thame, a presenter for the BBC's long-running programme Gardeners' World, has advised people to "let your weeds grow freely", claiming that "killing weeds is old-fashioned." Her statement has been criticised on social media, with people arguing that Gardener's World exists to give expert advice on gardening. Last month, horticultural experts from the Royal Horticultural Society urged gardeners to "down tools" in May and June during peak breeding season for birds, providing space for creatures and plants to thrive.
The treatment of migrant workers has again been brought into the spotlight amid reports in the Telegraph that three migrant workers, two Pakistani and an Indian national, at the World Cup finals in Qatar, have been held in prison since protests in January over unpaid wages, redundancies and evictions saw authorities arrest and deport many of those involved. The workers had protested against the early termination of their six-month contracts which left them without a salary or a place to live.
Taiwan is still hoping to receive an invitation to the World Health Organisation’s annual assembly, which commences on 21 May in Geneva, despite China still opposing the invitation of the democratically governed island. Despite opposition, several of Taiwan’s diplomatic allies have issued statements offering support for their participation, allowing for several bilateral meetings with the country. In response to China blocking Taiwan’s World Health Assembly participation in 2017, Taiwan pursued a diplomatic campaign to attend the global health forum as an observer. Researchers have suggested that Taiwan’s exclusion from the WHO could have hindered efforts to fight the COVID-19 pandemic.
The use of automated technology to replace judgement-based calls made by umpires and officials in sport has inspired a thoughtful commentary by author and journalist Will Leitch. In his article in the Washington Post on 1 October, Leitch does not argue against the idea that future use of automated strike zones and reviews to decisions will benefit the accuracy of matches. However, he warns that by removing the human factor entirely from refereeing denies players the chance to prove their resilience, allowing them to respond to events beyond their control and carry on fighting. Leitch argues that the lessons that players can learn through contests decided by human error are valuable for others, and instead of pure automation he suggests solutions such as human-computer teams, that will keep the humans in sport but reduce the likelihood of bad decision-making. “Nobody writes an obituary for a robot. And nobody will regret how they treated the robot when he is gone” says Leitch.
The Metropolitan Police Service has asked Interpol to trace Australian pop group, New World, who are believed to be on a European concert tour in Sweden. The three members of the band - John Lee, Mel Noonan and John Kane - are named in a charge against John Grossman who is accused of conspiring with Noonan, Kane, Lee and others to contravene the Forgery Act by uttering forged postcards. The police investigation relates to allegations of bribery made against some employees at the British Broadcasting Corporation (BBC) by newspaper News of The World, who claimed that cash gifts, free holidays and sex parties were being used to persuade disc jockeys to promote specific records.
India's Gland Pharma reports lower Q4 profit on soft demand
Reuters
23-05-18 13:51
Gland Pharma, the majority of which is owned by Shanghai Fosun Pharmaceutical, reported its Q4 2019 profit fell 56% due to weak sales in its key markets. Consolidated profits before tax and exceptional items fell to INR 1.68bn ($20.54m) from INR3.80bn from the previous year. The Indian company has a business-to-business model and depends on core markets including the US, Canada, Europe, New Zealand and Australia, which provide 70% of its revenue; access to capital markets for funding and the stability of these markets has therefore been key to success.
Banks should collaborate on data to improve their fight against financial crime by enabling financial institutions to share information from within and outside their networks, according to the CEO of Nasdaq, Adena Friedman. Speaking in the Financial Times, she said the increase in financial crime was partly due to regulations that limited banks’ use of data and technology. Friedman spoke of the benefits of the New York exchange's own approach to combating financial crime, in which data from over 2,400 banks was used in conjunction with advanced artificial intelligence algorithms. Regulators should also allow banks to use data sets in order to combat crime and employ cloud-based AI and machine learning to tackle the problem.
Chile's economy up for 2nd straight quarter as recovery tries to gain steam
Reuters
23-05-18 13:22
Chile's GDP increased by 0.8% in Q1 2023 from the previous three-month period, marking the Andean country's second consecutive quarter of positive growth after the economic decline resulting from the COVID-19 pandemic. However, the new figure is lower than market expectations and the country is still facing challenges arising from high inflation. Internal demand fell by 8% in the period because of lower investments and consumption, while falling commerce and agriculture and forestry also had a downward influence on activities, according to the central bank.
The gathering of the Group of Seven (G7) in Japan has been dubbed a farewell to the old world order, as the leaders meet in Hiroshima, a city devastated by an atomic bomb in 1945, but now, somewhat against the odds, thriving. G7 leaders are expected to discuss the economy, security, terrorism and the refugee crisis, although some have raised concerns about the group’s relevance. Furthermore, this year’s meeting of the UK, US, France, Germany, Italy, Japan, and Canada, is more a reflection of the post-war era, rather than the ‘future-shaping task force’ it claims to be.
Hailey Van Lith, the LSU women's basketball player, is among eight players who have been announced as members of USA Basketball's 3x3 World Cup team. The tournament is set to take place in Austria at the end of May, and Van Lith will be joined by Stanford's Cameron Brink and Linnae Harper, as well as Cierra Burdick, a three-time 3x3 World Cup player. The USA's men's team, which features four players who won gold at the AmeriCup last November, will be coached by Joe Lewandowski.
English rugby union player Tom Curry has called for rule changes to protect players from the controversial charging technique knwon as a "crocodile roll". His twin brother, England forward Ben Curry, will miss the Rugby World Cup due to a serious hamstring injury. Ben, who plays for Sale Rugby Club, was hurt during the club's semi-final win over Leicester. "Crocodile rolling" is seen by some players as dangerous and risky, particularly as the technique can result in injuries and lengthy absences from the game.
NATO's Secretary General, Jens Stoltenberg, announced that he expects NATO members to agree to a new investment pledge to spend 2% of their GDP on defence at the upcoming alliance summit in Vilnius, Lithuania in July. Currently, only seven of NATO's 30 countries met the 2% of GDP goal in 2022. Stoltenberg has urged NATO countries to increase defence spending as the world has become "more dangerous" since Russia's invasion of Ukraine last year. At the Vilnius summit, the alliance intends to send a firm signal of support to Ukraine.
